GLENNApril 20, 2017

Belly of the Beast: Glenn Recounts a Hallway Argument at Fox News

What was the corporate culture like at Fox News? On radio today, Glenn shared an enlightening encounter from his FNC days, which now makes him question certain stories being reported in the wake of Bill O'Reilly's exit.

Enjoy the complimentary clip or read the transcript for details.

GLENN: All right. So we're talking about this audio about Kirsten Powers, who was complaining that Bill O'Reilly pointed out the fact that there were a lot of blondes that work at Fox News. And that was her experience with Bill O'Reilly, the nightmare, that he was a Neanderthal and said, "There's so many blondes here, I sometimes lose track and I can't keep you all straight." She wanted something done. He needed to apologize. Needed to make sure that that never happened again. Blah, blah.

This woman is -- you know, she's a liberal. She dated Anthony Weiner. And her -- I mean, how you could have spent two minutes with Anthony Weiner if your line is that --

PAT: If you're that sensitive.

GLENN: -- is beyond me. But -- so the trouble comes, as she is telling the story -- she said, so I went to Roger Ailes.

And what did Roger Ailes say, Stu?

STU: He --

GLENN: Nobody likes Bill.

STU: Nobody likes Bill. He likes to pin up pictures of hot women. He likes to talk dirty to hot women.

GLENN: Okay. Where does that come from? Where does the talk dirty come from?

STU: Well, I mean, it's coming from Roger Ailes here.

GLENN: Here. But what does that --

STU: He's referencing an old story that had been reported.

GLENN: Okay. Now, this is the big thing. This is the one where everybody said, well, he paid off. Okay.

Here he is. And it seems as though this was a consensual relationship, at least at one point. Bill thought that they were -- this is what it seems. I don't know if this is true.

STU: We have not talked to Bill.

GLENN: I have not talked about Bill.

STU: You're just saying, basing this on the reporting.

GLENN: Basing this on the reporting. I have not talked to Bill. And it's like, hey, Bill, so tell me about that lawsuit. No.

But this is -- this is my theory on -- on Bill. Consensual, and at some point, it stopped. He didn't know. Or he was just like, eh, I'm kidding. Whatever.

But she taped really inappropriate things on the phone. At some point, she knew, I can make a killing here. Okay?

And so she demand -- I think the word was $60 million, to keep those tapes out of the public. Do you want your tapes or your emails to your wife or your husband -- do you want bedroom talk of yours out into the public? Because I wouldn't. Would you, Stu? Would you?

PAT: Well, especially to my husband. I would say no to that.

GLENN: Your wife or your husband. Okay? Nobody wants that. That's not something that Bill O'Reilly or anybody wants.

Well, I have it. Okay. Settle the lawsuit.

Now, I think that -- I could be wrong. But the way I've read that story -- and I've looked at it, you know, for, what? Fifteen years that story came out. Fifteen years ago.

PAT: Been a while. Ten, 15.

GLENN: So I haven't thought about that story since then. But if you hear what she's saying here -- what did Roger Ailes do? Roger Ailes brought that story up, and her sexual smear, the reason why this is on CNN with the -- the headline, "Look at what she said Roger Ailes said about Bill," comes from that one story.

Now, why is that important? Let me share a story with you on what I know about working at Fox under Roger Ailes.

Roger Ailes was a genius. Sheer genius. I think there was a good side of Roger Ailes. I think the dark side of Roger Ailes won. But I think there was a really good side of Roger Ailes. And I think he was torn apart towards the end of his life thinking what he could have done, if he would have used his power for good as opposed to evil.

But at some point in his life, he became a dirty old man. And -- and one of the things that he did at Fox -- and I know it firsthand is, he would sabotage relationships.

Remember how I have said in the past that, you know, Sean Hannity and Mark Levin and I, we didn't get along.

Well, me personally, I believe that all came from Roger Ailes. And I know another one who was involved, who was also feeding that stuff. But they were being fed by Roger Ailes. Roger liked to be the kingpin. And he was the master manipulator of everybody's relationship. And he liked his shows and his talent not liking each other. Because he knew, if I keep them pitted against each other, A, they'll compete harder to beat that son of a bitch. And they would never join forces. If they joined forces, then we're in trouble.

I know this firsthand because Bill O'Reilly heard an argument in the hallway at Fox. I don't know if I've told this story before on the air. Have I?

PAT: I don't think so.

GLENN: I heard an argument on -- in the hallway about ACORN. And remember when we found that New Orleans was the head. There was something really bad. And it had to do with Van Jones and ACORN and SEIU. Well, I didn't have the money to go investigate that, but Bill O'Reilly's team did. Bill O'Reilly saw that story and was like, "Got to get on that story. That's great."

Bill and I had no relationship. Bill heard an argument in the hallway between my producer and his producer. And my producer at the time was yelling at Bill's producer saying, "You stole our story." And that's when I came around the corner. And I said, "Whoa, whoa, guys, what is up?" And he said, "Well, you know, Bill O'Reilly's people are stealing our story." And I said, "What story is that?" The ACORN story.

That's not our story. That's America's story. What are they doing?

And he said, "Well, they're going to send somebody down into New Orleans." And I looked at Bill's producer, and I said, "That's fantastic. We'll get you everything that we know. Can we have you after you break the news with Bill -- can we have you on the show and you further the -- he was stunned.

Yeah. Good.

And I looked at Grish and said, "Whatever -- whatever they need, get them. This is -- we're a team here."

That's when Bill walked around the corner, and he just looked at me and went, "Beck." Bill was sitting around -- standing around the corner. He was listening to all of it.

That was the first time that Bill knew, I'm not like -- I'm not cut from the rest of -- I'm not like that. I'm a team player. Let's work together for the good of the company. Let's work together for the good of the country.

We're allies. If you remember on my show, I used to promote Sean Hannity. And he would do specials. And I would promote them because I wanted him to know, I'm in your corner. You don't have to be in my corner. I'm in your corner. And I would promote.

I did that to every show because I wanted to show -- and nobody ever asked me to. I had to go track down the details. But I did it to show the other talent, we don't have to be enemies. Why do we have to be enemies?

So when that happened, Bill called me up to his office the next day. "Beck, can you stop by my office? I want to talk to you."

Okay.

So I go into Bill's office which was the corner office and pretty darn sweet. And I'm sitting there. And, you know, he's got all these pictures of, you know, him with, you know, the pope and the president and Jesus. I mean, he's got everybody. And you're like, "Wow." And it was a pretty powerful office.

And I'm sitting there like a little no-nothing. Oh, is that the music? I'm going to have to pause in this story so we can pay some light bills. And we'll come back and tell you the rest. And I think it will begin to make sense, why I've said, "We're on a dangerous road in the media." A very dangerous road.

[break]

GLENN: So I'm sitting in Bill O'Reilly's office. And Bill calls me in, and he said, "So what are you doing here?" And I'm like, "Well, you called me to come up to your office." He said, "No, why are you here at Fox?" He said, "I used to watch you on Headline News." And he said, "I'd watch you." He said, "For a while there, I just thought you were nuts." And he said, "You might be. I'm not saying you're not. You might be nuts." He said, "But you're a hell of a television performer." And I said, "Thank you."

And he said, "You really believe this stuff, don't you?" And I said, "Yes, I do."

He said, "You need to slow down." And I said, "What do you mean?" And he said, "You're just going to burn through way too much." And I said, "Bill, I don't plan on being here for very long." And he said, "Why?" And I said, "I don't want to do this. I figure I'll be here for about two years, and that will be enough." And he said, "You could be here the rest of your -- look at me. You could be here the rest of your life." And I said, "I don't want to be." And he really didn't understand that.

And he was like, "Why not?" And I said, "Because this isn't what I want to do. This is what I feel like I need to do."

So the Bill O'Reilly in the hallway that heard me say basically, "We're partners. We don't even have to be friends. We don't have to be enemies. We're partners on furthering the news." That, coupled with him sitting me down and saying, "Why are you here?" And I said, "Because I believe it." He said, "You're going need to help." And I said, "Okay."

And he said, "You say some pretty crazy things." He said, "And people are going to need to hear the answer on what you really meant." And he said, "You know you're not going to get a fair interview anywhere." And I said, "Oh, I know. I just spent some time with Katie Couric." And he said, "I promise you, I will give you a fair interview. I'm not going -- I'm not going to be a Bill, but I'll give you a fair interview. I'm going to ask you the question that everybody wants to hear, but I'll let you answer it." And I said, "That would be tremendous." And if you're a long-time listener, you know -- people used to call me all the time and say, "Glenn, why do you go on Bill O'Reilly? He's not helping you. He's not your friend." Yes, he was. He was my friend. He was allowing -- he was asking the question the Katie Courics of the world wanted to ask me, without the agenda. He was a great friend. He was -- in fact, he and Anderson Cooper are the only two people in the industry that treated me like an equal, like a human being. And like I was intelligent. Only two people on the air that I can think of, that actually have been there. And really understand it. And may not agree with me on everything. But they know that I'm trying to be a decent human being.

I left Bill's office. When I left Bill's office, that didn't take long to get back up to the second floor, to where Roger Ailes was.

A few weeks later, I was in Ailes' office. He called me in for something. And he said, "Hey, listen, I know you're new here. I just want you to know, you've got to be careful of Bill O'Reilly." And I said, "Okay."

He's a user of people. And you just need to stay away from him and be very, very careful.

Huh. Okay. I didn't say anything. Okay. File it away.

A couple weeks later, I get another -- you know, another interview or time with Roger Ailes. And he plants another negative seed about Bill O'Reilly.

Bill O'Reilly and I are talking. And I said, "Hey, Bill, I think I've figured something out about this place." He said, "Yes." And I said, "I bet you're hearing negative things about me, about things I might be saying about you behind your back." And he just smiled. "Might be."

And I said, "Yeah, I'm hearing things that I shouldn't trust you because you're saying things behind my back." He smiled and said, "Might be."

And I said, "I tell you what, why don't we make a deal that we don't listen to those voices. And if we think that it might be true, we come to each other and we ask the other and we're honest with each other. Other than that, we dismiss them."

He said, "I think that's very wise advice."

Now, here's why I tell this story. Did you see what just happened with Kirsten Powers? She goes into Roger Ailes' office. She's new there. She goes to Roger's office, and she has a problem because he called her blonde on the air. And that's something that she even wrote a book about, you know, about what? Blondes. A non-blonde joke book. I mean, it was a book about how it's bad, and the horrible things that happen to blonde women.

STU: Well, I mean, a very standard criticism by the left was that there are a bunch of blondes working at Fox News.

GLENN: Yes.

PAT: The Fox News babes, they've been called. And that was something very common that the left was upset about.

GLENN: Yeah, but she's on the left.

STU: She was on the left, but worked at Fox News. So defended Fox News against that accusation and has written about how she did not like that people noticed the blonde hair.

GLENN: Right. Then you probably should have your hair -- you should stop lightning your hair because it's so blonde.

STU: I don't know what her natural color hair is, honestly. Personally.

GLENN: Yeah, I would say probably 40 percent of the people that are on-air at Fox are not naturally blonde. But that's, you know, a different story.

I'm, believe it or not, not a natural blonde anymore.

STU: Really?

GLENN: Yes. Yes.

So, anyway, you see what happened. She goes up and talks to Daddy Ailes. And what's Daddy say? A friend of Bill. A friend.

JEFFY: Uh-huh.

GLENN: You got to be careful. You know, Bill likes to -- he likes to talk dirty to people.

My guess is that Bill has made mistakes. But Bill mainly is old-school, as he says. He just -- come on. He's not going to play the politically correct, oh, I have to apologize because you were hurt by a blonde -- get over it. You're in the big leagues. Get over it.

I think that's old-school Bill O'Reilly. I also know Bill. We never had a problem because Bill knows that we're not only doing news, but we're also doing a show. And so he takes his business seriously. More seriously than anybody I've ever seen. And he has very high standards. Don't screw it up. Don't screw my show up. Don't waste my time. Don't waste my audience's time. Okay?

Very high standards. In the '90s -- in the '80s, this is the way I was, except I was much more of an animal. And if you screwed something up, I was pissed at you.

STU: You're not saying the sexual part of it.

GLENN: No, I'm saying the demanding exactness in your job.

So Bill gets a bad rap because, look, if you're not good at what you do or you screw up or you're lazy -- screw up once, he's going to be mad at you. Screw up twice, you've made an enemy. Not on his show. Not on his watch. Don't screw it up. Okay? That's one reason why Bill and I never had a problem because I understood that about Bill.

He takes it very seriously. Those who don't, you've got trouble. So he has that going for him. Or against him.

He is old-school, not going to play political correctness. He made a mistake I think in a consensual relationship.

And the worst part of it was Roger Ailes was feeding poison to everybody. So how much of this was right about Bill O'Reilly, and how much of this is poison that everybody knows that because -- I mean, even Roger Ailes who we know is a predator, Roger Ailes says he's a predator, right? I mean, he's got to be a predator.

JEFFY: Nobody likes him.

GLENN: Nobody likes him. That was one of the first things, Glenn, there is a reason that nobody likes Bill O'Reilly. Really? Because I didn't take everybody else's word for it. I just got to know him. And it started with me knowing that he's got to be the most guarded man in the world because either everybody wants something from him or everybody is knifing him in the back for his position. So I showed him support. And that broke down a wall. And so I found out who he really was, or at least who he really was who he showed me.

How many people just took, oh, yeah, he's -- watch out. Watch out.

STU: And, you know, it's tough because you get into these situations. And there is nobody who will even say things that are positive. Whether they're judging the case or not -- you know, even if they like you, they don't defend you. You're not the only one, apparently, though defending Bill O'Reilly. In a world exploding in violence, we've now identified a naval closer to home: Bill O'Reilly. Sexism is a serious problem and a serious accusation. It's true there are many people who dismiss a woman as unserious and out of their depth, not because they are, but because they are a woman. Bill O'Reilly isn't one of them. If disagreement is violence and everything is sexist, then eventually nothing will be.

GLENN: Who said that?

STU: Oh. The headline is Kirsten Powers: Bill O'Reilly is not sexist.

GLENN: Oh, my gosh.

PAT: Oh, my gosh. When did she say that?

JEFFY: What!

STU: Written in 2014. Written in 2014 for USA Today.

GLENN: Oh, my gosh. Oh, my gosh. And she is the one that had -- CNN is using now as the big smoking gun.

PAT: What! Oh, my gosh.

JEFFY: She must have forgotten -- forgotten when Bill thanked her for her --

GLENN: Unbelievable.

PAT: Jeez.

STU: I mean, that's incredible. Literally the headline in USA Today: Kirsten Powers, Bill O'Reilly is not sexist. That's the headline of the story. It was a column.

JEFFY: Unbelievable.

PAT: I mean, it was shocking that she survived the initial attack about her being blonde.

JEFFY: Right. I know.

PAT: You know, that she could even speak after that is a tribute to her. And then for her to completely forget about it in 2014, what an extraordinary person. Extraordinary person.

STU: We all have days where we forget things.

GLENN: Unbelievable. I have to tell you, is there anybody else that is defending -- I saw Eric Metaxas say something nice. Is there anybody saying anything nice about Bill O'Reilly?

STU: Other than Kirsten Powers in 2014.

GLENN: Yeah, other than when it was popular to say something nice about Bill O'Reilly. Look, I'm not judging the -- I don't know any of that. So I don't know. And I think you should -- you need to take people seriously on that stuff.

And I don't like if he's treating people, you know, poorly on the staff. I don't like that. Shut up, Jeffy. No, I don't like it. I think it's -- when you're rude to people, it's wrong. Shut the fat mouth. And close the --

JEFFY: That's a surprise to me. I didn't know you would feel that way.

GLENN: Close those -- close those lard-ridden eyes.

JEFFY: Is that a new policy coming from Glenn Beck?

GLENN: Yes, it is. It is. But I don't -- you don't stand for that. It's not right. It's not right.

PAT: No.

GLENN: And in a world where there are contracts and stars, it sometimes lasts longer than it should.

But also, let's look at facts.

PAT: Have we seen any? Have we seen a single fact? Have we seen any proof? Have we seen evidence of any of it? I don't think so. We have somebody's word against his.

GLENN: I haven't. I haven't. And nobody wants to -- nobody wants to stand up because it's unpopular. And we are -- we know -- I will be painted as a guy who is dismissing sexual assault or, you know, sexual impropriety or any of that. I know how that's going to be -- but that's not what I'm saying. That's not what I'm saying. I'm saying there is real. And there is fake. I don't know which this is. But I haven't seen the real stuff. I'm only seeing things that make me say, well, he called her blonde. And then Roger Ailes said something about him. That's not the same as sexual harassment. What are we doing?

Right is right. No matter what it costs you personally, right is right.

VIDEOS

TPUSA Presents This is The Turning Point Tour LIVE with Glenn Beck at the University of North Dakota

In this poignant segment of Turning Point USA's American Comeback Tour live event, Glenn Beck honors the late Charlie Kirk by revealing his private plan to name Kirk as his successor in conservative media, emphasizing Kirk's unparalleled dedication and achievements. Blending themes of faith, history, and personal resilience, Beck shares life principles on forgiveness and truth while unveiling 'George AI,' a revolutionary tool for exploring American history through digitized artifacts and interactive conversations with Founding Fathers.

RADIO

Israel and Hamas sign Trump's historic deal. Will it work?

Israel and Hamas have signed phase 1 of President Trump’s peace deal, paving the path for the release of all remaining hostages, hopefully in a few days. Glenn and Stu explain the significance of this historic deal and what it could mean moving forward.

Transcript

Below is a rush transcript that may contain errors

GLENN: Oh. Your initial thoughts here on the peace deal?

STU: It's an incredible opportunity. I think it is important to remind ourselves, that this -- these things typically do fall apart. That is essentially your expectation, any time anything like this happens. Part of this is going to be Hamas coming through on promises.

I have very little belief that they are typically able to do such things.

That being said. They probably also -- you know, one of the things -- a friend of mine pointed this out to me. We were going through all of this.

And he said, you know, one thing to think about it: This is, like, not the B team of Hamas. But the R team of Hamas. They've killed so many of the leadership.

GLENN: Yeah, yeah.

STU: These are people making decisions that were not at the top of this organization and had those ridiculous ideological beliefs that would lead you to October 7th. That's not to mean that Hamas, these people that are left are like, "Hey, you want to invite them over for Thanksgiving."

But I do think there's a possibility here that they're like, you know, maybe this life is not here for us.

GLENN: That would be nice if that were true. I don't know if that were true. But it would be really thyself.

STU: I don't know if that's true. I do think there may be a little bit lower ideological commitment, potentially. And also, the idea that some of these people might be able to make this deal and escape to another third country.

GLENN: Yeah.

STU: And live life there, in a different way.

GLENN: So the breaking news that just was announced, Israel, their parliament or their cabinet just met or approved phase one of the deal.

And Hamas has just come out and said, they accept phase one of the deal.

That means the hostages will be released either this weekend or Monday.

Any remaining hostage will be released.

STU: I mean, just that.

GLENN: Just that.

STU: If that occurs, it is a massive achievement.

GLENN: Yes.

STU: So far, it is already the greatest opportunity we've had.

And only possible because of his detection to this idea!

GLENN: And his deal-making.

Not just his vision.

But his ability to work all of the parties and find out what all the parties need.

And make it happen.

You know, we're not talking about peace between Gaza, you know, Hamas, and Israel.

We're talking about peace in the Middle East.

STU: Yeah. It's bigger. It's bigger than just Israel.

GLENN: I mean, it's Egypt and Saudi Arabia and -- and Jordan to some extent. And -- and Turkey. All of them getting together and saying, you know what! We'll rebuild Gaza. We want to make it into a very prosperous kind of area. I mean, think of places in Saudi Arabia that are so prosperous. That's the way Gaza could be. So they're all getting together and they're saying, "We will rebuild. We'll oversee. We will try to make everything -- you know, keep everything held."

They will put their money into it, which means they have a lot to lose if it goes awry. And they're all saying, "We can co-exist with Israel."

Three years ago, did you even think that was possible?

STU: Yeah. And, you know, look, there are a lot of places you can go and find non-stop criticism of Donald Trump. They will say terrible things he does, and everything he does is the worst thing ever.

GLENN: Yeah.

STU: Also, there are plenty of places you can go where you find that everything that he does is the greatest thing of all time.

I hope you realize that's not what we do here. And I -- on a -- I said this -- and you said this as well when we -- when this was unveiled.

Sometimes, you can get -- people are critical of the way Trump handles these situations.
Sometimes. And sometimes there's arguments on that.
Sometimes it's not the best approach.

You know, we were critical of him, for example, how he handled Canada. You know, probably cost Poilievre that election. And I think that's a really bad thing.

GLENN: I do on top.

STU: That being said, this is a great example of where his instincts work perfectly. This is all set up over a long period of foundational stuff from his first term. With the decision he made, to come out and just announce the agreement with Netanyahu. We agreed. We agreed to this peace deal.

Now, in theory, we have no position to agree between these two parties. But he came out and all of the focus had been, look at all the bad things Israel is doing. Look at how bad, they're so evil. They're so bad.

And he said, we agree with Israel. Now we just need Hamas.

And so the world's attention was like, what's Hamas going to say?

Finally, he was able to focus his attention to the appropriate place. To the party that is holding the hostages, to say, hey. How about asking if they want to a freaking cease-fire for once?

He was able to do that. In a way that I think only Donald Trump could achieve. Which leads to this, over a long foundation.

GLENN: And here's another thing.

You know, this guy has walked through wall after wall after wall of fire. Everybody calling him everything. Nazi, every day.

Here's a guy who, you know, in a time period where the whole world is like, the Jews control everything. Donald Trump is run by the Jews.

He not only kept his relationship with Israel solid and helped them, when he thought they were right. But when they were wrong, in his view, he chastised them.

He knew how to do it. And still hold their respect.

And gained the respect of places like Qatar. And say, so Qatar. When he chastised Benjamin Netanyahu and Benjamin Netanyahu had to I think apologize to some degree about what they did in Qatar.

That's when the Middle East went, wait a minute.

He's not being controlled by the Jews! You know what I mean?

That should be a really big wake-up call to everybody who thinks that Donald Trump is just being controlled by the Jews.

No. No. No. He's not.

He does what he thinks is right. And he'll chastise both sides.

And he will support either side. When they're right, to get to a deal. That's good for everybody.

This deal could be amazing.

I don't have any -- and it's not because of this deal.

I happen to -- I read the end of the book. So I know how this ends.

This will not -- you know, this is not --

STU: You skipped ahead?

GLENN: I skipped ahead. I skipped ahead.

STU: Don't ruin anything.

Don't -- no spoiler alerts.

GLENN: I won't. No spoiler alerts.

Let's just say, this might last for a week. It might last for a thousand years. I don't know.

But we will be in this situation again. We all know that. We all know that. But let's take and celebrate peace while we can.

And the hostage is coming back. That is massive. Massive.

And due to Donald Trump.

Today, if you don't like Donald Trump, fine. Fine.

But how do you take this one apart?

Honestly, how do you not claim this is a massive victory, for the whole world?

STU: Well, I can tell you, that a lot of people on the left are rooting for it to collapse, which is a shockingly revealing moment. I mean --

GLENN: Wait. What?

STU: They are -- you know, they're not going to be out there like, we hope this collapse is.

But you know they hope it collapses.

They don't want to give Trump credit for it.

And they would rather have this continue. They would rather have this war go on.

Than admit that the reason it's ending is because Donald Trump was able to negotiate this deal.

That is central!

GLENN: I think anybody who has played politics with the Palestinian, you know, all that stuff. And all the stuff on the streets. That -- that has been a very effective tool for them. And so I would agree.

And they don't want that tool to be taken away.

STU: You think the Hamas wing of the party wants this? You think Rashida Tlaib is all thrilled about Donald Trump's efforts here. They will hear about Ilhan Omar -- how wonderful --

GLENN: Those are extremists.

STU: I mean that. This is a very revealing dividing line on the left. Right?

If there is anything that is ever going to happen, that Donald Trump can be given credit for. That you think this could be clear. John Fetterman. Fetterman has obviously pretty good on this issue. But Fetterman came out, gave a statement that should be basic. Basic. Like, hey, this is good. And I really hope it works. Donald Trump did a good job on this.

That's the type of stuff that should be obvious for everyone to be able to --

GLENN: That's what "Tip" O'Neill would have done. "Tip" O'Neill and Ronald Reagan, they got together. They disagreed. They fought hard, but they had dinner.

Yeah. Because "Tip" O'Neill could say, that was good. That was good. What he did was just good for all of us.

STU: That worked well. Good. I'm glad that happened. You should be glad that happened. We should all be rooting for the success here.

Even if what the -- you know, like, I rooted -- again, I have all sorts of criticisms the way Barack Obama dealt with the Middle East.

Yeah. Plenty of them. And we went over them over and over and over again.

And plenty of issues with specifically the way he went after Osama bin Laden. But on the day that it happened, really happy about.

Very happy that we were able to do it.

Now, look, it's our military that does it. They can say all this stuff too. They can say, oh, well, the real reason is. Blah, blah, blah.

But we can still be happy, that this occurred. And you can still be excited and give credit where credit is due.

GLENN: This is a win for all humankind. For humanity!

For life!

Stopping Hamas from torturing. You know, torturing kidnap victims.

Stopping the bloodshed that was happening because of the war on both sides.

That is a win. Having the possibility of a stable Middle East, at least for a while. That's a win!

That's a win all the way around. Everyone should be happy. I don't care if you like the president or not.

Everyone should be happy that mankind, put one on the chalkboard for all of mankind today.

This is a huge -- never seen -- this is on the good side. Never seen this one before. Didn't see this one coming.

I mean, we should all be able to say, wow!

And thank you. Because he's the -- I really, truly believe, when it comes to negotiating things like this, there is nobody better.

I mean, that's what he does for a living.

And he knows it. He knows how to read people. He knows how to it.

And this is evidence of it.

STU: And he will do things that are so out of the norm. That it resets everybody's thinking. You know, I mentioned --

GLENN: If he wouldn't have done that. If he wouldn't have done that, we wouldn't have all the Middle East signing on to a peace deal.

STU: I respect. What would they have done in a situation like Trump was with Netanyahu?

Their advisers would have said, "Look, this is great. You guys are together on this. Let's go to Hamas. We'll talk to them. We will see if we can get something done. We don't want to ruin it by announcing it publicly. There are times, where that tactic cannot work. But it worked really well here."

He forced them to basically say, "No, we don't want a cease-fire," or, "Okay. We'll go along with this."

And, by the way, you go down this list, there's a lot of stuff -- this is Hamas never, ever having control of this region ever again is built into this agreement. Now they've only talked about -- they're only on phase one here. So we don't know that we get all of this stuff. But like, there's a lot here that really improves the lives of Israelis, of --

GLENN: Palestinians.

STU: Arab Israelis in the region. You know, Palestinians. Other Arabs in the region.

GLENN: Saudi Arabia. Everybody.

STU: Yeah. Not to mention, just globally.

Right? This is a positive.

GLENN: Look what this does.

That's Turkey. So that separates Turkey from Syria, which is right in bed with -- with Iran.

I mean, think about how this box is. If you have the entire Middle East, now operating with Israel, and saying, we have a right to exist. Think about what that means, for this block, now to Iran. Iran doesn't mind being a pariah.

But now, everyone is officially saying, aisled do business with them.

STU: We will choose business over these guys.

That's a big statement in that world.

GLENN: That's a big deal. Big deal.

RADIO

Gold is at $4k an ounce. What that means for YOUR dollar

Gold has reached a record high price of over $4,000 an ounce. So, what does that mean for your dollar? Financial expert Carol Roth joins Glenn to explain why this news is so concerning and why many big investors have started to buy gold.

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, Carol Roth, welcome to the program. How are you?

CAROL: I'm doing great, Glenn! I'm actually celebrating my 26th wedding anniversary today, so it's a blessed day.

GLENN: Oh, my gosh. Congratulations! Congratulations! It's weird. I'm coming up on my 26th on January.

CAROL: Oh, fabulous. Fabulous. It's a good amount of time to be married, yes.

GLENN: It is. It is. So, Carol. Let's talk about the price of gold hitting --

CAROL: It's over 4,000.

GLENN: Which is nuts. And I don't think people really understand. I don't think the average -- this is my guess, and I want you to correct me. I don't think the average person is buying gold. I think this gold-buying is happening from sovereign funds and central banks, mainly. Also, Asian markets. I don't think Americans really understand what $4,000 an ounce means. Can you explain it?

CAROL: Absolutely. I think the world both, investors and central banks are catching up to the things that you and I have been talking about for years. So, you know, we're ahead. We warned everyone. And now this is a little bit of catch-up. Interestingly, you know, as you noted, the average American is very behind in terms of what gold means.

When you look at Chinese households. When you look at Indian household. There are estimates that each one of those country's households owns up to 30,000 tons of gold at this point. Which to put that in context, the US government owns 8,133 times.

GLENN: So the Indian households, all of them combined, 27,000 tons.

CAROL: Right.

GLENN: What we say we have, is he 8100. Wow!

CAROL: So the households in China and India are really ahead of the curve. When you look at data for the US, it's a little bit hard to get good data. But from what I've seen, the estimates are only about ten to 11 percent of US households at all, have exposure to gold.

Now, I know that your audience is very sophisticated and is ahead of the curve. And I would imagine blows through that number. But just shows how sort of unprepared US households are in general.

GLENN: When you're looking at Indian and Chinese households that own gold. Does that include all the gold jewelry?

CAROL: Yes. Yes. That's actually, particularly in India. One of their preferred ways of procuring gold. Yeah.

GLENN: Okay. So gold has -- gold has shot up over $4,000 in record times. I mean, breathtaking time. What is causing that?

CAROL: Okay. So there are a confluence of factors, and I think the two most important factors, which, of course, are linked. Are what Wall Street is now calling the debt debasement trade. Which they're just caught up. And gave it a cute name.

And changing the global financial order. And they're very much linked.

GLENN: Yeah. Tell me, what is it? The debt debasement? What is that?

CAROL: They're doing the debt debasement trade, which is just basically what you and I have been talking about, which is our unsustainable fiscal position.

GLENN: All right.

CAROL: And what all of the money printing that we've seen over the past 17 years, what that has done to our purchasing power, and how that's going to catch up to us.

So as a reminder, our debt to GDP is at emerging market crisis levels. We were at 120 police levels of GDP.

We're running deficits equivalent to a war-time level. Or recession level, while we still have growth.

Which is crazy. We have interesting interest rate -- or interest payments that are outpacing defense spending.

So everyone is now finally catching on to the fact that this is an unsustainable financial position.

And it is going to be very difficult to get out of. Without there being some sort of additional debasement of our currency. Which is a fancy way of saying, a diminishment of your purchasing power.

What's really crazy. There's a chart that's been going around, and they did kind of a comparison of different asset classes. Price in US dollars, price in gold.

So if I look from the end of September 2018, out seven years, and you look at the top 100 NASDAQ nonfinancial companies. It's called the NDX. In US dollar terms, that is up 236 percent. So you think you're super rich, right?

But in gold terms, solid money that doesn't -- you know, that doesn't have its value debased. It's only up 4.7 percent.

GLENN: Oh, my gosh.

CAROL: Yeah. Of course. The S&P 500 up 133 percent over that period in dollar terms. It's down 27.6 percent in gold terms.

And what's called the Case-Shiller Home Price Index, which is the value of homes, the way that's measured. Dollar terms, 60 percent. Oh, houses. So expensive In gold terms, it's down 50 percent.

In fact, right now, it takes less gold in terms of ounces, to buy the median single-family house, than it has in decades and decades and decades.

So it goes to show, that even though we see these dollars. They're buying less and less. And now, you and I were talking about this forever.

But now Wall Street is catching on. Oh, that's not a great thing. And so in terms of preserving the hard-earned capital, we need something that is that -- that hedge. That mutual hedge that is going to retain its value.

And that's why more investors, institutional investors. Funny enough, a lot of millennials, more than anyone starting to really get in to gold.

GLENN: You know why? Because millennials have not been trained their whole life. Trust the system!

CAROL: Yes.

GLENN: And they see it clearly. And they look at it, and they're like, well, this doesn't make any sense at all. And they're going to spend this.

And they will wreck the dollar and everything else. They just see it without being trained over and over and over again. Like, trust the system. They don't trust the system.

And once you realize, the system is rigged in a million different ways. And the system is not telling you the truth.

I mean, that is amazing. When you look at the stock market. And you say, it's actually down, when you compare it in US dollars. To gold!

What's happening -- let me explain this to the audience. What all that means is: Gold is only going up in dollars. It's staying -- it's staying stable. But it's costing you more because of inflation. The dollars are buying less! So it looks like you're paying more, but you're really not. It looks like the stock market is going up, but it's really not! It's what it costs to get in with dollars. If you're going in with gold. You'll actually see that if it was all done in gold, the stock market is down. The price of housing is town.

It's the dollar. It takes more dollars to buy, than it does with gold, which holds its value.

That is -- if people could understand that one thing, that changes all the conversations of, the government has to do something to make housing more affordable. No, they don't. They have to stabilize the dollar. They have to stop spending so much money.

CAROL: Yeah, I mean, if you think of the three definitions of money, it is a medium of exchange. You know, how you helped to exchange goods.

It's a unit of account, which we say, things are priced in dollars, and it's supposed to be a store value. The unit of account, that you just talked about. My friend Steve Forbes has a great analogy, and he talks about other measurements.

You know, imagine that your clock, you know, one day, at 12 o'clock, you know, means midnight. And another day, 3 o'clock means midnight. Or 6 inches to measure a curtain one day. And then the same measurement is like a foot, a different day.

You can't have -- a consistent measurement if the unit of account continues to change. And that's what we've been seeing here with the dollar. And unfortunately, it has not been to our favor.

Which means, that when you work really hard to earn something and it's valued in a dollar, that over time, that -- that work that you put out, your productivity is worth less and less.

And so what gold is meant to do. It's meant to be Capitol preservation. It's not a risk asset. It's not meant to take on risk. And maybe go up a ton. And maybe go down a ton. It's really meant to be a counterbalance to what you have earned. So that you can preserve your purchasing power.

GLENN: You know, I've been saying this for a long time. That you put your money. And I have money in the stock market. You put the money in the stock market.

If things really go awry, go ahead. You're going to cash out for an awful lot of money. But those dollars. It will be paid back to you in dollars.

Those dollars will be worth less, even though there's more of them stacked up, than that ounce of gold, or, you know, that 10 ounces of gold, or whatever you had!

The stock market is paid in dollars. And so as the inflation goes up.

But gold keeps its value!

Keeps its value and hold it steady.

So, yeah. You will be paying more in dollars if you try to sell your gold. But that will continue to increase while stock markets will go down. Am I right?

CAROL: It's a counterbalance. So if things were to shift, and for some reason, you know, things were to change with the dollars, which we would need a lot of different catalysts. Then your gold goes down. It's a counterbalance, which is why it's important to have that diversification in your portfolio. And to have the gold hedge.

What's interesting, Glenn. Just the history, we're talking about millennials.

You know, they went through the great recession. Financial crisis.

They're kind of keyed into this. But if you think about when we came out of the '70s with this crazy inflation. We came out of the gold standard. It used to be very commonplace for a financial adviser to sit down and say, okay.

We've been through this. And so you should be putting, you know, five to 10 percent of your portfolio in gold. As the stock market took off in dollars. And became this big thing.

And they started seeking fees. That went away. Financial advisers, who don't get paid sometimes at all, when you allocate to gold. Stop recommending it.

GLENN: Yep.

CAROL: And now we're seeing a shift back, now we're seeing, you know, oh, yes. You should have some. Some of the big names out there saying, even more.

GLENN: Ray Dalio just came out and said, 15 percent.

CAROL: Yes, we've seen big names like that, anywhere from ten to 20.

And when they surveyed high net worth investors, which are $250,000 in assets or more, they're averaging right now, 21 percent of their holdings in gold.

So it's a very big flip in recent years, on how this is being viewed bit people who have accumulated those dollars and are worried about them.

GLENN: Okay. So let me just summarize here before we move on. On to some other questions.

That is exactly what my grandfather who lived through the great depression said. What are the people with big large amounts of money doing?

I want to do that. And if I did do that. I would be better off in the great depression.

You just heard it, 20 percent or more, right?

From big dollars.

They're investing in gold. 20 percent!

You should -- you should have some!

CAROL: And it's interesting. Some of the portfolios we're seeing is coming from not only the equity peace, but from the fixed-income peace, which is pretty interesting too.

GLENN: Amazing.

Unmasking Antifa: The Dark Truth Behind Its Well-Funded Network | Glenn TV | Ep 461

The cities of Portland and Chicago are turning into war zones. Federal agents have been ambushed, police have been ordered to stand down, and mayors are defying the Constitution. It’s insurrection in plain sight. Glenn Beck heads to the chalkboard to uncover the hidden support and funding networks propping up Antifa. Glenn debunks the myth that Antifa is decentralized and leaderless, tracing connections from Soros to Tides and other shadowy nonprofits. Plus, independent journalist Nick Sortor joins from outside an ICE facility in Portland, where he was wrongfully arrested by police following attacks by Antifa members.

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Transcript

Gold is at $4k an ounce. What that means for YOUR dollar

Transcript

Unmasking Antifa: The Dark Truth Behind Its Well-Funded Network | Glenn TV | Ep 461