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Mark Albarian discusses plunge in gold prices

April 15, 2013
Wilson

Writer

Earlier today, the price of gold began to plummet and if you looked at Drudge Report the message was clear: 'Panic everywhere'. Glenn invited Mark Albarian, President & CEO at Goldline International, Inc (and sponsor of this program and website), to discuss the news and give his perspective on what is happening in the gold market.

GLENN: I've been e‑mailing back and forth with a lot of people over the weekend because some really significant things are happening with the U.S. dollar. I don't know how much time we have, but I will tell you the clock that we feared and told you would happen and would start clicking and ticking is, and it's only a matter of time before the U.S. dollar is not supreme anymore. And there's something weird happening at the same time. For some unknown reason gold is now plummeting, and if I'm looking at the Drudge Report, it says panic is everywhere. Mark Albarian is a sponsor of this program. He is from Goldline, and I wanted to call him and find out why is gold plunging. What is happening, Mark?

ALBARIAN: Well, I think people have reacted what Goldman Sachs said about a week ago where they said gold was going to go lower. And, you know, traders out there, if they get information like that, will sometimes sell gold, sell their gold or sell gold short to take advantage of a Goldman Sachs quote. Goldman Sachs' basis for it is, "Hey, the economy's getting better. The world's getting better. Everything's okay. Look at the stock market going up. Gold's not as important."

GLENN: Can you tell me that ‑‑

ALBARIAN: That's not something that I personally believe in the long run.

GLENN: I don't believe ‑‑ I mean, really? Goldman Sachs said it. So it must be so. I don't ‑‑ I'm not one that actually believes that this is coincidence that the sovereign funds are buying up gold, or as countries collapse, they are dumping gold and then at the same time we're being told that the economy is okay. I personally think that this is collusion. It is keeping the price of gold down for the sovereign central banks so they can store the gold. Do you think there's anything to that? Because that's just ‑‑ that's just me saying that. Is there anything that you've ever read ‑‑

ALBARIAN: Well, I think there's a lot to be said for that. First of all, there's some talk that Cyprus might sell its gold. Whenever a country or a central bank or there's rumors that a large amount of gold is going to hit the market, people panic. Remember Germany talked about selling their gold. Switzerland talked about selling their gold. Many, many times it just doesn't happen.

The other thing is as you've seen and I've seen is that China and Russia have increased their gold reserves. So whenever there's been an opportunity to buy any quantity of gold, you've seen other countries. It's not just the big ones or the giant ones. You see India increasing gold reserves from time to time. So you see other countries taking advantage of these opportunities.

Right now that word "panic," it's, there's no panic at Goldline. There's no panic in the physical market. I don't think investors that own gold are panicking. I think people that are on margin, that are speculating, that are traders, they've made ‑‑

GLENN: They are panicking.

ALBARIAN: Yeah, they overreacted. How come nobody's talking about silver? Silver's down today almost 9%. So if gold's going down, does it make sense that silver goes down? Does it make sense that platinum goes down? Does it make sense that palladium, which is almost purely an industrial metal. So if things are going ‑‑ getting better, does it make sense that palladium is down today 5%? It seems like it's, you know, an overreaction in the trading markets. But who knows.

GLENN: Okay. So gold mining shares around the world were battered, and this is kind of what you're talking about and this is something that I have said don't do and that is buy paper gold. So the ‑‑

ALBARIAN: I would agree with you. Gold mining shares, what you are doing is you are investing in a business. If that gold mine makes money and the stock market's good, you'll make money. But you're not betting specifically on the gold price. And shares can, you know, react up or down because people feel like gold's going to go up or because of a particular mine.

GLENN: Okay. So when does ‑‑ because ‑‑ in fact, I got a call from a guy today. I got a call from a guy. And he said, "Glenn, I just want you to know because I know you're a big gold guy." He said, you've got to get out of gold because it's going to plummet. And I said, thank you very much. What do you think it's going to hit? And he said, I don't know, but it's going to go down and I said, great, because I'm going to be planning on buying more. Because I just don't believe that the ‑‑ with what happened, Mark, this is what's so confusing. You followed the currency stuff that was happening over the weekend with Japan and Switzerland and France and Australia last week, with China and the currency, right?

ALBARIAN: Yes, all the currencies.

GLENN: Okay.

ALBARIAN: It's interesting because we've seen the dollar at a level now that, with all that's going on in the world, everybody's now saying the U.S. currency is the safest.

GLENN: Well, but China is making moves to basically set up, I think, the ultimate undermining of the U.S. dollar, and it's only a matter of time I think before the dollar collapses or interest rates have got to be jacked up to be able to hold this thing together which would eventually mean our demise. But it doesn't make sense. Those things don't go together.

ALBARIAN: Yeah, I think that's a great point. Lots of things don't go together. So if gold is going down today, wouldn't you expect that the stock market might be going up? And the Dow's down over 80 points. I mean, how is everything going down at one time? And China looking for world dominance? Clearly that's an issue, and it's hard for us to be on an equal footing with China when we negotiate with them because we owe them so much money. When you owe somebody a lot of money, you have to be nice to them. You're not really equal when you negotiate.

GLENN: One of my guys came in this morning and said that he had read a thing that it showed, it was a chart of all of the central banks, that all of the central banks in the last five years have made significant increases in their gold reserve. True or false?

ALBARIAN: True.

GLENN: By an unusual amount or is this the usual you kind of fluctuation?

ALBARIAN: Well, actually the usual thing is one of the things that caused gold to stay low for all those years was that the central banks were actually selling gold. They weren't adding to their reserves. They were selling. And there was an agreement between the central banks, they were selling so much gold, it was hurting the gold miners. It was hurting the actual workers in South Africa that needed a job because they were in risk of closing mines. So they all got together around gold prices of $300 or even a little less and said, you know, let's stop selling gold so quickly. And they all agreed to do that.

Now, independent of that, we saw the financial crisis in 2007, 2008, 2009. And from that point on, central bankers have been adding to their gold reserves. People would have been happy if they just agreed to sell normally, but they went the other way. They started buying. And the people that have the most gold and the most power to move the gold market in my opinion are the central bankers.

GLENN: Do you think there's any gold in the United States?

ALBARIAN: I would guess that there's gold at Fort Knox. I would guess that there's gold at the Federal Reserve. I would guess also that there's a lot that I don't know and that we don't know and they are not telling us.

GLENN: Do you ‑‑

ALBARIAN: Because if it was completely transparent, they would call in one of the big four accounting firms and they would just do an audit and they would take pictures.

GLENN: Why would Illinois last week begin the passage of a bill to log everybody's gold, to make in the State of Illinois that if you have gold, you need to report it to the State of Illinois so they know exactly how much you have of physical gold?

ALBARIAN: I don't know where that bill went but I'll tell you I'm very concerned when you get government asking that question. Even if it was just a proposed bill, even if it gets shot down quickly, that makes you nervous. I think an equally important question is why would the State of Texas be so concerned about getting their gold physically in their state. If the State of Texas doesn't trust somebody else to hold their gold, then I think that my view over all these years has probably been right: The people ought to buy gold and put it someplace safe and have complete control over it. Real gold, not paper, hold it themselves.

GLENN: All right. Thanks a lot, Mark. I appreciate it.

ALBARIAN: Thank you, Glenn.

GLENN: All right. Again, full disclosure. He is a sponsor. He is a friend of mine, but he's also a sponsor of the program and that was not a commercial. You ‑‑ I mean, it's ‑‑ God only knows what is going to happen. You know, if you had gold, I'd keep it to yourself. I would keep it to yourself. Now, in the future is it going to be ‑‑ I mean, do you see up on TheBlaze they have a new story out, where is it, hungry for some Hunger Games: See the first trailer released for the second film? How is it nobody can see that you're headed toward that kind of a world? I'm not saying that we're going to be hunting each other, but you're headed towards a rule ‑‑ a world where you're ruled over. I mean, is it un ‑‑ is it unreasonable to say right now that if the economy collapsed that the government could say, "If you trade in gold, if you..." I mean, they are already doing it. They are arresting you if you have vegetables and you are trying to sell your farm fresh vegetables to a neighbor. Remember, they went in, where was it, in Colorado where they went with bleach to destroy all of it.

STU: Yeah.

GLENN: I mean, is it really that so unusual that we ‑‑ I mean, we're headed toward some really spooky things if we don't wake up.

Can fear win the vote? Democrats have a dangerous strategy to demonize Trump.

Anna Moneymaker / Staff | Getty Images

The Democratic Party’s nominee is deliberately spreading false, fear-driven narratives to turn her base against Donald Trump, regardless of the consequences.

Have you noticed how Kamala Harris and her allies in the corporate left-wing media have become bolder in labeling Trump a “fascist”? A recent New York Times article revealed that Democrats have shed their reluctance to use the term. In fact, it has become their rallying cry as Election Day approaches.

What’s the real goal here? According to John Daniel Davidson at the Federalist, Harris and her supporters are using this rhetoric to energize their base — and more disturbingly, to prepare them for violence if Trump wins. The fearmongering isn’t just about driving people to the polls; it’s about creating an atmosphere of rage and chaos.

Let’s show the Democrats that our republic doesn’t bend to fear and certainly doesn’t bend to those who twist the truth for political gain.

Harris is deliberately spreading false, fear-driven narratives to turn her base against Trump, regardless of the consequences. This is the same Kamala Harris who, during the George Floyd riots in 2020, encouraged bailing out rioters and urged the violence to continue both before and after the election.

For example, Harris has claimed that Trump will use the Department of Justice as a weapon against his political enemies if he returns to office. But let’s pause for a second: Who is using the Justice Department as a political tool right now? Harris’ own administration, led by Joe Biden, has weaponized federal agencies against Trump and conservatives for years.

Harris also recently entertained the idea that Trump would round up people who “don’t look white” and throw them into camps. During an interview with Charlamagne tha God, a caller suggested this scenario. Instead of refuting the caller’s paranoia, Harris nodded and said, “You have hit on a really important point.”

This kind of divisive rhetoric fuels fear and division in our country. Let’s not forget: Trump was president for four years, and there were no camps, roundups, or authoritarian crackdowns on dissenters. Leftists claim Trump and his supporters spread conspiracy theories, but they are the ones pushing baseless and dangerous claims.

While Democrats claim to defend democracy, they are increasingly aligning with authoritarianism. For example, the EPA funneled billions of dollars to left-wing organizations, including one tied to Stacey Abrams, for “voter mobilization” efforts. This funding came through the Inflation Reduction Act — a taxpayer-funded omnibus bill. Imagine the outrage if Republicans in Congress gave billions of taxpayer dollars to right-wing groups. The media would be in an uproar, and there would be protests at the White House gates. But because it’s Democrats doing it, the mainstream media turns a blind eye. These are the warning signs of an authoritarian regime.

This is why it’s more critical than ever for Americans to see through the left’s manipulation. Trump’s not the fascist here — he’s a threat to the left's power. The real danger lies in the left’s escalating rhetoric, which is designed to incite chaos if things don’t go its way. And let me be clear: That’s exactly what leftists are preparing for.

Don’t let them succeed.

The best way to counter their lies is by getting out to vote and encouraging others to do the same. If every single one of us does this, we won’t let the fearmongering and lies being peddled by Harris and the Democrats succeed. Let’s show them that our republic doesn’t bend to fear and certainly doesn’t bend to those who twist the truth for political gain.

'Get involved': Here's how YOU can join Glenn on election night

America is currently standing at a fork in the road. Which path we take will determine our fate as a nation.

One path is “we try something entirely new,” as in “not the Constitution,” and the other path is “we go back towards the Constitution,” says Glenn Beck.

The stakes for this decision are higher than they’ve ever been.

“We're deciding this year whether or not our kids are going to grow up in a country that gives them the opportunity to be themselves and to move forward and chart their own course, or we're going to continue to live in a place where we're not sure if our kids are going to have a better life than we did,” Glenn warns.

Regardless of who you vote for, Glenn says that one thing applies to everyone: “You’ve got to get involved this year,” which includes voting.

Election Day is rapidly approaching, and it will undoubtedly be a night that goes down in history, which is why BlazeTV will be broadcasting it live.

“We’d love to share it with you,” says Glenn.

Go to BlazeElection.com for exclusive access to our election night broadcasting. Your BlazeTV+ subscription also gives you access to all BlazeTV content as well as Blaze News.

“Sign up and be a part of the family as we go through this together,” invites Glenn.

Get $40 off your first year of BlazeTV+ with code ELECTION.

TOP THREE craziest leftist reactions to Trump's McDonald's visit

The Washington Post / Contributor | Getty Images

Over the weekend, President Trump visited a McDonald's in Bucks County, Pennsylvania to serve up some french fries to hungry supporters.

MAGA fans from across the country came to celebrate and support Trump, quickly swamping the small town with a tide of Trump merch. With a roaring crowd outside, Trump cooked up some crispy fries and served them to a small selection of supporters through the drive-thru window, creating a light-hearted, fun moment— a pleasant break from the turbulent election cycle.

Naturally, the Left quickly swooped in to rain on Trump's parade. From unsubstantiated fact-checks to overused insults, here are the craziest reactions to Trump's McDonald's trip:

Fact check on Donald Trump's claims about Kamala Harris

The Washington Post / Contributor | Getty Images

While working his brief 15-minute shift, Donald Trump quipped that he's now worked at McDonald's longer than Kamala Harris, referencing the Vice President's unsubstantiated claim that she worked at McDonald's one summer during college. McDonald's further substantiated Trump's claim by indicating that there are no existing records of Harris's employment, though they admit that records from the pre-digital age may not have survived to the present day.

Despite the lack of evidence, left-wing media outlets, such as the Washington Post, were quick to defend the Vice President. Their argument essentially put Trump's word against Harris's, suggesting that Trump was deliberately lying to defame the Vice President, while simultaneously treating Harris as a more credible source.

Pointing out the obvious fact that this was a political stunt

The Washington Post / Contributor | Getty Images

In what is likely the least informative journalistic piece of the century, MSNBC made the "shocking discovery" that Donald Trump didn't actually work at McDonald's and that the entire event was for his campaign. It's unclear what detail gave this away to the "ever-vigilant" reporters at MSNBC. Maybe it was the fact that McDonald's was closed for the event, or the lack of employees within the restaurant, or possibly it was the crowd of cheering fans outside. Thank you captain obvious, the event was a carefully coordinated and secure political event. The former President who has had several assassination attempts on his life did notwork in an unsecured restaurant, dealing with countless unknown people.

Truly "top-notch" reporting by MSNBC.

Calling Trump supporters "weird"... Again.

LOGAN CYRUS / Contributor | Getty Images

The New York Times had to really scrape the bottom of the barrel to come up with something to paint Trump's fast food fiesta in a negative light. Instead of attacking Trump, they went after his supporters who lined the street to cheer on their favorite presidential nominee. They went so far as to describe the event as a violent riot full of unhinged and uneducated fanatics. The New York Times even quoted a pro-Harris protester who showed up to the event and suggested that "Jan. 6 was maybe a trial run ... and now they’re a lot more organized — and a lot angrier.” The insults didn't stop there. They dredged up the archaic and cringeworthy Tim Walz original calling the Trump supporters "weird." This "zinger" doesn't have the punch the New York Times wanted it to have, and came across as a sad attempt to bring Trump down in one of his high points in his campaign.

RIGGED: Kamala Harris attempts to sway Fox interview in her favor, STILL falls short

Paul Morigi / Contributor | Getty Images

The election is mere weeks away and Kamala Harris just had her first adversarial interview since she began campaigning.

Last week, Harris sat down with Fox News journalist Bret Baier for an interview plagued with difficulties from the beginning. As Glenn recently pointed out, it seemed like Harris had done her best to ensure the interview was intentionally rigged against Baier. Despite being in front of Baier's diverse audience, she did not seem too interested in taking the opportunity to sell herself to a new demographic. Instead, Glenn hypothesized she was just after a quick soundbite to pander to her faltering core supporters.

However, the interview blew up in Kamala's face, and the American people took notice. Here's a rundown of Kamala's first Fox interview:

Rigged Interview

BRENDAN SMIALOWSKI / Contributor | Getty Images

Harris and her team did everything possible to throw Bret Baier off his game and derail the interview in her favor. It started when Harris's team informed Fox that the interview, which was originally supposed to be an hour, would be cut in half. This left Baier scrambling to reformat his interview to better fit the new time requirement. Then Harris arrived at the interview ten minutes late, further shorting the interview.

The purpose behind Harris's tardiness became apparent during the interview. Every time Baier asked a question, Harris would launch into a lengthy word salad. Baier was forced to interject just so he was able to ask more than a couple of questions. Harris even pushed back, calling out Baier's interruptions, which of course, just wasted more time. Clearly, Harris or her staff realized that she could not sustain a hostile interview for any extended period, which is why Harris tried to filibuster away as much of the interview as possible.

When the brief interview was nearing the end of its allotted time, Harris's staff began signaling to Baier to end the interview. Despite the change in plans and late arrival, her staff was determined to end the interview as quickly as possible.

Harris's Agenda

CHRISTIAN MONTERROSA / Contributor | Getty Images

From the beginning of the interview, Harris was hostile. She was immediately adversarial and would spin every question into a criticism of Trump, no matter how pointed Baier's question was. Several times Harris had emotional outbursts, spewing classic anti-Trump rhetoric, regardless of its relevance to the question asked. Glenn pointed out that this was the reason Harris took this interview. Recently, many of her core supporters have been faltering as her sudden burst of televised appearances has revealed her paper-thin platform. She took this interview to get a good clip of her passionately bashing Trump on Fox News. This would bolster her core demographic, which she desperately needs.

Harris's Fumbles

BRENDAN SMIALOWSKI / Contributor | Getty Images

Despite her best efforts to sway the interview in her favor, Baier still managed to pin Harris several times. Harris kept dodging tough questions Baier threw her way with the same tactic: she would promise to "follow the law" then deflect the question back on Trump. One of the more memorable instances of Harris's evasion strategy was when she was questioned if she supported prison inmates having access to taxpayer-funded transgender surgery. Harris insisted she would "follow the law" and then explained that Trump had followed the same law while he was in office. This response was, in essence, a non-answer. Harris was ignoring the obvious fact that as President, she would influence what the law would be and how it is enforced.

Harris's other major blunder occurred after Baier asked her how her presidency would differ from Biden's and how she would "turn the page" on our current situation. In classic Harris fashion, she immediately deflects on Trump, framing our current situation as somehow a byproduct of Trump simply existing within the political sphere. This convoluted web she spun was so twisted that Harris herself lost track of what she was saying gave up, telling Baier, "You know what I'm talking about." Baier admitted he was just as lost as she was, and she simply went back to attacking Trump.