BLOGMay 24, 2017

The Pope's Gift to President Trump Might Make Your Head Explode

When Barack Obama gave the queen a collection of his own speeches as a gift, he set the bar pretty low for future Presidents. But what do you get the guy who has everything and wants nothing? Wednesday on radio, Glenn talked about the gifts President Donald Trump and Pope Francis exchanged.

"Donald Trump gave him a case of books from Martin Luther King," Glenn said.

Now, get out the duct tape. The gift the Catholic pontiff gave President Trump might make your head explode.

"The pope gave Donald Trump a medal by a Roman artist," Glenn said. "The pope also gave him three books: the 'Topics of Family,' the 'Joy of the Gospel,' and 'On the Care for Our Common Home,' (the environment)."

Glenn's radio co-host Pat Gray nearly lost it when he heard the pope gave Trump his encyclical on climate change.

"Ugh," Pat groaned.

Author Paul Kengor joined the program to discuss the visit and compare it to Ronald Reagan's first visit with John Paul II nearly 35 years ago to the week.

Enjoy the complimentary clip or read the transcript for details.

GLENN: Hello, America. Welcome to the Glenn Beck Program. The president has just left the pontiff. He was in Rome. The exchange books and exchange gifts. Now, the last president we had, remember his first tour? Oh, my -- remember he gave the queen a DVD, which she couldn't use in England, of all of his greatest speeches. We all are pretty sure that Donald Trump thinks highly of himself. Even Donald Trump didn't give a gift of all of his greatest gifts. So what did he give the pope? And who did the pope give him?

Meeting with the pontiff, we begin there, right now.

(music)

GLENN: So they get together. They exchange gifts. I mean, what do you get the pope? I mean, a guy who literally has everything. Oh, you got me a nice little statue. Good. Thank you, I'll put that over in my desk, right next to the Michelangelo. I mean, what do you get that guy, who has everything, including his own face on bottle openers?

PAT: I had an idea, but I --

STU: You thought better?

PAT: Uh-huh.

STU: Yeah, okay.

GLENN: You may not think better when you hear what the pope gave to Donald Trump.

STU: Because it's not only a guy who has everything, but also a guy who is outwardly telling you that material things don't matter.

GLENN: Correct.

PAT: So where do you go?

GLENN: Correct. That's when you walk in and say, "Hey, pope, I just was thinking about you. And I thought, you know what, you don't want any material things. So I bought a little something for myself."

(laughter)

Okay. So Donald Trump gave him a case of books from Martin Luther King, and the pope gave Donald Trump a medal by Roman artist that said what that was, was an olive. I mean, when a Roman artist is making something for the president of the United States, you wonder, yeah, then how can it looks like a pile of crap? No, no. It's an olive. But he gave him an olive, a symbol of peace. And apparently the president said, "We can use peace." The pope also gave him three books: The Topics of Family, the Joy of the Gospel, and the Care of our Common Home, the environment.

JEFFY: Hmm.

GLENN: He then gave him --

PAT: Oh, man.

GLENN: And this is what is going to set Pat off. Look out, he's going to be screaming to the pope, "Get off my lawn."

He also gave him his encyclical on climate change.

PAT: Ugh.

GLENN: So hopefully -- hopefully that will help Donald Trump, you know, understand --

PAT: Yeah.

GLENN: -- that you got to do something on climate change.

PAT: And not just something, we need to spend -- well, according to the Al Gore group, 50 trillion. And according to that other group, 90 trillion, was it?

STU: Just the 90 trillion.

GLENN: Yeah.

Paul Kengor is with us. He's the author of a new book called A pope and a President. A Pope and a President. It's an amazing book. If you love Ronald Reagan, you have to buy this book and read it. A Pope and a President: Ronald Reagan and His Relationship with Pope John Paul.

Paul, welcome to the program. How are you, sir?

PAUL: Hey, good, guys. Great to be with you.

GLENN: Good. So what are your thoughts on the visit with Donald Trump and the pope?

PAUL: Well, you know, I was first struck at how different this is from Ronald Reagan and John Paul II, right? You know, to have -- with those two, when they first met, which was ironically 35 years ago almost to this exact week, when the two of them met at the Vatican for the first time --

GLENN: Wow.

PAUL: Yeah. That was June 1982. And, you know, those two went in with all sorts of commonalities. I mean, they agreed with the international situation, domestic situation. They both had been, you know, shot, the year before, and both miraculously survived these assassination attempts.

GLENN: They both agreed --

PAUL: So when they came together --

GLENN: They both agreed clearly on the definition of evil as well.

PAUL: They did. And to both of them, the one clear international threat was atheistic Soviet communism. And these two, as well, with Francis and Trump -- you know, they might agree that the dominant international threat is Islam, or radical Islam. But they don't, in any way, I think, share any sort of common mission on how to respond to it.

GLENN: Do you think that the pope -- hang on, where are you getting that the pope really understands radical Islam? I mean, he -- he seems to almost be towing the same line that you would hear from CNN.

PAUL: Right. Right. Yeah, he's been very, let's say, merciful, right? Which is a common word of his, being sort of the pope of mercy. He's been very charitable, merciful toward Islam. But I think, really, if pressed -- and I think he and Trump, from what I can tell, so far and what I've read about the meeting, I think they agreed, at least on the threat of Islam in terms of religious persecution. Because that seems to be an issue that was brought up at the Vatican between the two of them. But I think the difference, Glenn, is how would they respond to it, right? You know, how would they talk about it publicly? You're never going to have Pope Francis condemning radical Islam in the way that Trump did, or the way Trump has. Or referring to it in the kind of incendiary language that Trump has. So the difference is probably not necessarily on how they recognize the threat, but how they respond to it.

GLENN: So -- we're talking to Dr. Paul Kengor. He's the author of A Pope and A President: The Meeting Between John Paul -- and the friendship between John Paul and Ronald Reagan.

Here we have the guy who is probably the biggest -- he's almost a caricature of capitalism. And to somebody like Pope Francis, who grew up in South America, who is not favorable to capitalists at all, he must view Donald Trump as -- as everything that he stands against. And I just can't imagine -- what do you think the pope was -- what do you think the pope's message to him was, privately?

PAUL: That's a good question. Yeah, I don't know if they talked about that at all. The actual statement that came out from the Vatican -- I'm looking at it right now. Boy, it's not even maybe 100 to 200 words long. So there's hardly anything to it at all. And it says that they talked really about common areas of agreements, such as -- as it says, a commitment in favor of life. That would be unborn human life, I would think. Freedom of worship. Freedom of conscience.

And it also says that areas -- I think it says that they brought up immigration. They talked about the Middle East, the protection of Christian communities.

So I don't think he brought up any of his sort of, what's seen as anti-capitalist viewpoints from Pope Francis. I doubt they really talked economics much. I doubt they talked climate change much.

But as you guys mentioned, Glenn, that encyclical, it's called Laudato si', that addresses all of those topics. When he said -- when he gave that to Trump and two other statements -- and Trump actually said, "I'll read these," which is impressive for Trump because the guy hardly reads anything, right? I mean, he said he doesn't read books. These are -- and these are -- they're not quite book length. But I think Laudato si' is maybe, off the top of my head, 50 to 70 pages. So it's a pretty in-depth read. But it talks about economics, climate change, but it also talks about family. It talks about how, if we're going to care for God's creation, we need to not just care about the environment, we need to care about God's creation of the little ones in the womb, for example.

So there's still -- I mean, there are some pretty obvious areas of disagreement. But they also have some pretty important commonalities that I don't think people are giving them credit for.

GLENN: Has Donald Trump -- does anybody know -- has Donald Trump ever met with a pope before?

PAUL: I doubt he has, yeah.

GLENN: I'm just wondering, was this something that you think was moving or special to him in any way? As a guy who has done everything he's wanted for his whole life --

PAUL: Yeah, I think it was.

In fact, the CNN headline on this was very interesting. At CNN.com, I think the title was something like, Trump tells Francis, "I won't forget what you said. I won't forget what you said." And there's something about the Vatican. You've been there.

GLENN: Yeah.

PAUL: I've been there. When you walk into St. Peter's Basilica, I mean, you can have an ego the size of Donald Trump, but all of a sudden, you're humbled by that environment. You know, you're humbled by -- by -- he apparently took a tour through the basilica, through the actual Vatican. They met, I think, in the Vatican library, which is where Reagan and John Paul II met when they met for the first time 35 years ago. And also, just simply when -- you know, I've talked to people who have met popes, who have met Pope Francis.

And when you meet with that bishop in white -- and in Francis' case, somebody with a very calm, friendly, winsome demeanor. I think it probably humbled Trump. And the pictures that I saw of him and Ivanka, you know, slightly veiled. Melania veiled. Melania even apparently -- this is according to the National Catholic Register, gave a rosary to the pope and asked him to bless it. I mean, I don't know if it's her rosary.

GLENN: Well, she came from a very Catholic company -- she came from a very Catholic country, did she not?

PAUL: Right. Well, that's true, she did. And the pope even made a couple references to different Slovenian dishes that he knew of. And Slovenia was -- I mean, that was part of the Balkans area that the Soviets and the communists were dominating from the 1940s to the 1980s.

GLENN: Right.

PAUL: So, you know, they probably -- in that respect, she surely has a respect for the Catholic church -- I mean, she noted that she was Slovak. And Pope John Paul II was the first and only Slovak pope.

GLENN: Paul, thank you for your analysis on this. Can't urge the audience enough. Please, if you like Ronald Reagan, you are going to love Paul Kengor's book. I'm still waiting for an autographed copy, Paul, but no rush.

PAUL: Oh. You got it.

GLENN: A Pope and a President. The story of John Paul and Ronald Reagan. This friendship that changed the world. It's a tremendous, tremendous read. Paul, thank you so much for being on.

PAUL: Okay. Glenn, take care.

GLENN: You got it.

STU: Noticed how you happened to make a story about the pope and the president, about you, which was an interesting trick there. Quite an achievement.

GLENN: Well, I thought it was the only way I could get an autographed copy on the air. I could write him all day, and he's not going to do it. Now he's got to. Now he's got to.

VIDEOS

TPUSA's Turning Point tour LIVE with Glenn Beck

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

Big investors buying gold: What does this mean 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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Unmasking Antifa: The Dark Truth Behind Its Well-Funded Network | Glenn TV | Ep 461