Mark Albarian discusses plunge in gold prices

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.

Eric Weinstein, managing director of investment firm Thiel Capital and host of "The Portal" podcast, is not a conservative, but he says conservative and center-right-affiliated media are the only ones who will still allow oppositional voices.

On "The Glenn Beck Podcast" this week, Eric told Glenn that the center-left media, which "controls the official version of events for the country," once welcomed him, but that all changed about eight years ago when they started avoiding any kind of criticism by branding those who disagree with them as "alt-right, far-right, neo-Nazi, etc.," even if they are coming from the left side of the aisle. But their efforts to discredit critical opinions don't stop there. According to Eric, there is a strategy being employed to destroy our national culture and make sure Americans with opposing views do not come together.

"We're trifling with the disillusionment of our national culture. And our national culture is what animates the country. If we lose the culture, the documents will not save us," Eric said. "I have a very strongly strategic perspective, which is that you save things up for an emergency. Well, we're there now."

In the clip below, Eric explains why, after many requests over the last few years, he finally agreed to this podcast.

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Glenn Beck: Why MLK's pledge of NONVIOLENCE is the key to saving America

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Listen to the Rev. Dr. Martin Luther King Jr.'s pledge of nonviolence and really let it sink in: "Remember always that the nonviolent movement seeks justice and reconciliation — not victory."

On the radio program, Glenn Beck shared King's "ten commandments" of nonviolence and the meaning behind the powerful words you may never have noticed before.

"People will say nonviolent resistance is a method of cowards. It is not. It takes more courage to stand there when people are threatening you," Glenn said. "You're not necessarily the one who is going to win. You may lose. But you are standing up with courage for the ideas that you espouse. And the minute you engage in the kind of activity that the other side is engaging in, you discredit the movement. You discredit everything we believe in."

Take MLK's words to heart, America. We must stand with courage, nonviolently, with love for all, and strive for peace and rule of law, not "winning."

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Conservatives are between a rock and a hard place with Section 230 and Big Tech censorship. We don't want more government regulation, but have we moved beyond the ability of Section 230 reforms to rein in Big Tech's rising power?

Rachel Bovard, Conservative Partnership Institute's senior director of policy, joined the Glenn Beck radio program to give her thoughts and propose a possibly bipartisan alternative: enforcing our existing antitrust laws.

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Dan Bongino, host of The Dan Bongino Show, is an investor in Parler — the social media platform that actually believes in free speech. Parler was attacked by Big Tech — namely Amazon, Apple, and Google — earlier this week, but Bongino says the company isn't giving up without a fight. In fact, he says, he's willing to go bankrupt over this one.

Dan joined Glenn Beck on the radio program to detail what he calls a "smear" campaign behind the scenes, and how he believes we can move forward from Big Tech's control.

"You have no idea how bad this was behind the scenes," Dan told Glenn. "I know you're probably thinking ... well, how much worse can the attack on Parler have gotten than three trillion-dollar companies — Amazon, Apple, and Google — all seemingly coordinated to remove your business from the face of the Earth? Well, behind the scenes, it's even worse. I mean, there are smear campaigns, pressure campaigns ... lawyers, bankers, everyone, to get this company ... wiped from the face of the earth. It's incredible."

Dan emphasized that he would not give up without a fight, because what's he's really fighting for is the right to free speech for all Americans, regardless of their political opinions, without fear of being banned, blacklisted, or losing jobs and businesses.

"I will go bankrupt. I will go absolutely destitute before I let this go," he said. "I have had some very scary moments in my life and they put horse blinders on me. I know what matters now. It's not money. It's not houses. It's none of that crap. It's this: the ability to exist in a free country, where you can express your ideas freely."

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