This Makes No Sense: Bitcoin Is Now More Valuable Than Gold

It could be zero tomorrow, but for now, Bitcoin is more expensive than gold --- actual gold.

"This is one of those things that, you know, you're either going to look like a genius or a dummy," Glenn said Tuesday on radio.

If you invest significantly in Bitcoin and the price plummets, welcome to dummy town. But, if the price continues to climb, your family could be talking about grandpa and grandma's amazing foresight for generations to come.

Listen to this segment from The Glenn Beck Program:

GLENN: I just want to do a couple of minutes here on bitcoin because I find it interesting. Stu and I both have very little money in bitcoin. Just enough that you are like, okay. I can walk away from this and not worry about it. So we both have about $6.75 in it.

STU: That's too much for my blood. But I have some.

GLENN: Yeah. So Stu bought about $300 a coin. And it is now -- is it about to cross the 1800 mark?

STU: Yeah, it's right around there. 1800.

GLENN: 1800 per bitcoin.

STU: They're saying a lot of it goes to the --

GLENN: Instability.

STU: In China --

GLENN: Instability. Oh, yeah China.

STU: And instability. It's true. China though. Both of those are true: Instability, and the Chinese market has blown up. They're throwing money into this like crazy. And remember, we haven't even hit a point where there's an actual collapse of an economy. And a lot of people think that if this happens, where currency collapses in this environment, a country may switch to bitcoin as its actual currency.

GLENN: I know.

STU: I mean, if that were to happen, I mean -- God only knows what could happen to this. I have no idea.

GLENN: And at the same time, it could completely collapse and go nowhere.

STU: It could be zero tomorrow, without -- without any doubt at all.

GLENN: Yeah. This is one of those things that, you know -- that you're either going to look like a genius or a dummy.

If you put a lot of money into it, you have a better chance of looking like a dummy. But, you know, this is something that your family could talk about for generations. "Yeah, I know. My great grandfather, he bought bitcoin when it was $300 an ounce." When it was, what? For a coin.

STU: Yeah.

GLENN: When it was what?

But there are some changes going on with that. And I think, you know, when things go unstable, at least until they can get their arms around it. See, this is what happened to gold. Look at bitcoin. This makes no sense. Bitcoin now is more expensive than gold. That doesn't make sense.

STU: Right. No. Of course not.

GLENN: And that's because they do reverse treasuries and all of those games. They shut this down and they play all kinds of games with the manipulation of the price of gold because they know that people see gold as a signal of trouble. And so when they see gold start to fluctuate in big jumps, they freak out.

Gold should probably be closer to 2,000 to 2500. If it wasn't the artificial barriers, it would be at least -- I bet you it would be $2,000. But these artificial barriers keep them down.

STU: And that's what happens -- bitcoin is even more susceptible to that.

GLENN: Oh, yeah. It's not susceptible -- I don't know if anybody is trying to keep it down. But people don't know. And it's not stable. And it could go to zero. Gold will never go to zero. You know what I mean?

STU: Right.

GLENN: But it depends on what happens. Do they -- same with bitcoin. Do they seize it? Do they not seize it? Do they make it illegal for trading in it? I don't know.

STU: Right. That's my biggest concern. My biggest concern, as is, my biggest concern with everything is the government coming in and saying, "You know what, people are doing X, Y, and Z, that we don't like with this currency. Therefore, it will no longer exist."

And the people who love bitcoin say, "Well, they can never do that because it's digital and it goes around the government." And all that's true. Like, it is true -- it would be very difficult for the government outside of shutting the internet down completely to turn off bitcoin.

However, if you make it so that you -- you know, if the government creates a law and somehow it makes it possible that, you know what, you're not allowed to accept bitcoin. No one is allowed to have bitcoin, it's going to chase everybody like me out of it. Because I have no interest in being on the wrong side of the law. I'm not looking to make some weird, you know, currency point here. I just find it generally interesting. And at that point, while, yes, it will still exist in some world, it will no longer, I think have the -- the number of people involved in it that will create the increase in value.

GLENN: Unless it's China. Unless China says, that's our currency. Or that's how we're going. If China does it, then you still have all that money in bitcoin available to China. Your job is to get to China. You know, if you had $10 million in bitcoin --

STU: Right.

GLENN: -- because you bought it -- this is not crazy.

STU: No.

GLENN: Because you bought it today and currency went out and China said, "Oh, by the way, this is our currency." And a few markets were using that as currency, you could see that -- you could see $10 million in bitcoin. Now, get to it, you couldn't do it here in the United States. But if you could get to someplace where it was free, that's -- you know, that is one thing about -- you know, people in the 1930s had to try to smuggle everything out. They were eating diamonds and everything else, to try to smuggle it out. This is all up in your head.

That's different than gold or anything else. You don't have to move around with it. You just have to find a way to access it, which, you know, today is easy. But if you had real global, you know, authoritarianism, that changes. But that changes everything anyway.

STU: Yeah, exactly. At that point, you're beyond --

GLENN: Yeah, there's no -- there's no scenario -- oh, let's see. If Blade Runner comes true. There's no scenario for Blade Runner.

STU: Well, considering there's a sequel coming out very soon.

GLENN: Well, I forgot about that. Yes, I forgot that.

STU: Then I would say yes. Sequel to the documentary Blade Runner 2049.

GLENN: Right. Which looks really good. It looks really good.

STU: It looks kind of interesting.

But that's the thing with this, is the crazy scenario in which bitcoin goes to 10 million, the world is such a crazy place, you almost can't prepare for it.

JEFFY: Right.

STU: The situation in which, you know, let's say Chuck Schumer decides, you know what, people shouldn't be able to have the freedom with their currency, so we're going to ban it, that's not an unrealistic scenario at all to me. And even if the rest of the world continues to use it, if you're an American citizen, you don't want -- like I'm not interested in being on the wrong side of the law. I'm not Jeffy.

GLENN: No, nobody is. Nobody is.

STU: Nobody except Jeffy is interested in that. So the business --

GLENN: No, I meant nobody is like Jeffy.

STU: Nobody is like Jeffy, that's true. But the businesses will stop accepting it.

GLENN: Yeah.

STU: That won't happen anymore. And when that happens, it just becomes irrelevant to the average person in America.

GLENN: Well, same thing could be said for gold or silver and not --

STU: It's true. But gold or silver is so much more established, right? This is something where the average person knows nothing about.

GLENN: Yeah, yeah. The government -- I guarantee you, the government it -- at some point, if it crashes, the government will have to get control of -- of the currency. They're going to have to get control. And so they will say, the only way you can sell is with X, Y, or Z. Then you just have to have the courage to barter. You know, it's one thing to have gold buried in your backyard -- which I would never do --

STU: You just don't want to dig.

GLENN: What? I don't know what you're saying.

You know, it's one thing to have gold buried in your backyard. And then, you know, take it out slyly to your neighbor and say, hey, look. Bury this in your backyard. I need to buy, you know, a chicken. You know, or whatever.

STU: A chicken?

GLENN: Well, that's the only -- let's be honest, guys.

JEFFY: Right. That's right.

GLENN: If you're buying gold like I do -- I don't buy it for the investment. I didn't buy bitcoin for the investment.

I buy it for an insurance policy that the whole freaking world is burning down. So, yes, I will be in the market for a chicken so I can have an egg.

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Protests following the fatal police shooting of Walter Wallace Jr quickly devolved into violence, rioting, and looting in Philadelphia, and BlazeTV's Elijah Schaffer was there to document what the mainstream media won't. But while filming the carnage inside a Five Below on Tuesday, Elijah was surrounded and attacked by looters.

Elijah joined Glenn Beck on the radio program Wednesday to detail his experience and to explain why mainstream media efforts to downplay the violence just show that independent media has never been more important.

"Unfortunately, [the attack] escalated from one person to about a dozen very quickly," Elijah explained. "I'm actually really happy to be alive. Because in that same shopping center, right there, there was a 15-year-old girl who was shot, according to reports. And I heard multiple gunshots throughout the night. Another individual is reported to have heard a gunshot as well, so we try to confirm. I watched people get pummeled beyond belief."

Glenn asked Elijah to respond to mainstream media claims that conservatives are exaggerating the looting and violence in Philadelphia.

"It's so funny to hear people that aren't there try to counter what we're reporting," Elijah replied.

Watch the video below to catch more of the conversation:

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In the final days before the 2020 election, President Donald Trump is gaining among black voters, particularly men, because his record of accomplishments "speaks for itself" and the "façade" that President Trump is a racist "just doesn't ring true," argued sports columnist Jason Whitlock on "The Glenn Beck Radio Program" Tuesday.

Jason, who recently interviewed the president at the White House for, shared his thoughts on why he believes many black Americans — notably celebrities such as Kanye West, Ice Cube, and 50 Cent — are breaking from the "façade" that President Trump is a "flaming racist."

"I really believe the facts are starting to speak for themselves, and that Donald Trump's record of accomplishments, particularly as it relates to African Americans, speaks for itself," Jason told Glenn. "He actually has a record to stand on, unlike even Barack Obama. When [Obama] was president, I don't think he had much of a record to stand on, in terms of, 'Hey, what did he actually deliver for African Americans?' President Trump has things he can stand on and, you know, beyond that I think black people understand when he starts talking about black unemployment rate. And America's unemployment rate. And then, when you add in for black men, the façade we've been putting on [President Trump] … you know, this whole thing that he's some flaming racist, it just doesn't ring true."

Jason suggested that Trump's fearlessness, unabashed masculinity, and record of keeping his promises resonates with men in the black community. He also weighed in on how media and social media's bias plays a huge role in convincing people to hate President Trump while ignoring Antifa and others on the Left.

"I keep explaining to people, Twitter, Instagram, Facebook, they're some of the most secular places on earth. And we've reduced everyone to a tweet, that we disagree with," he added.

Watch the video below to catch more of the conversation:

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Megyn Kelly is not happy about the "disgusting" media coverage of President Donald Trump, specifically pointing to Lesley Stahl's "60 Minutes" interview on CBS Sunday.

On the radio program, Megyn told Glenn Beck the media has become so blinded by the "Trump Derangement Syndrome" that they've lost their own credibility — and now they can't get it back.

"It's disgusting. It's stomach-turning," Megyn said of the media's coverage of the president. "But it's just a continuation of what we've seen over the past couple of years. Their 'Trump Derangement Syndrome' has blinded them to what they're doing to their own credibility. They can't get it back. It's too late. They've already sacrificed it. And now no one is listening to them other than the hard partisans for whom they craft their news."

Megyn also discussed how she would have covered the recent stories about Hunter and Joe Biden's alleged corruption. Watch the video below to catch more of the conversation:

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