Glenn Beck: Peak Gold?

November 12, 2009

The Glenn Beck Program

The latest Beck Talks featuring Stu, brought

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GLENN: Full disclosure here. This is my, this is my gold guy, but my gold guy happens to be a sponsor of this program. So I want you to understand clearly going into this that this is a sponsor of my program. We're not going to talk about, you know we're going to talk about gold, but I want you to know, full disclosure, sponsor of the program. Mark Albarian is here, president of Goldline now. Mark, how are you?

ALBARIAN: I'm doing great. More importantly, how are you feeling?

GLENN: I'm feeling better. Thank you, by the way. I can't believe that I'm actually eating the fruit that you sent. People were sending me, people were sending me all kinds of, all kinds of food and I thought, it was all fattening. And I'm thinking, I'm on television; what are you doing. But thank you very much for your nice gift.

ALBARIAN: You're welcome.

GLENN: Okay. So Mark, I saw a story last night that said we're out, we're running out of gold, that we're hitting a gold, what do you call it, the oil

ALBARIAN: Peak oil.

GLENN: Peak gold. Is that even possible?

ALBARIAN: I think it is. When you think about the gold that we've seen on the market in the last handful of years, it's come from central banks. And central banks, the banks of countries, aren't selling gold now but they are buying gold. The second big source of gold has been mining companies selling gold forward, meaning that they sell the gold before it comes out of the ground. They do it in the paper transaction. Well, the mining companies are actually buying back their forward trades. So the big supplies of gold hitting the market, probably the third point is new mine production is down. So I think there's a very good argument that you could see peak gold. Now, we won't actually run out of gold, but you'll see much higher prices in my opinion.

GLENN: What are you we're playing a dangerous game here, you know, in speculation because, you know, there's a million ways to be wrong. What do you think? We haven't even hit the 1980 price which is, what, 18 in today's dollars, $1800 an ounce?

ALBARIAN: Well, if you take the 1980 price of $850 and you adjust it for inflation, I've seen offers anywhere between $2,000 and $2400 depending on how they do the math. Now, that's the inflation adjusted price.

GLENN: Right.

ALBARIAN: And so lots of people believe that, I mean, it's reasonable to believe that gold could get to those levels again.

GLENN: Do you find that reasonable?

ALBARIAN: Absolutely. Absolutely.

GLENN: I think it was CitiBank or one of the, maybe J.P. Morgan, or I don't remember even who's in business anymore. But one of them came out and said $2500 gold per ounce. I think that is, I think that's even reasonable.

ALBARIAN: Merrill Lynch said you could see $1500 gold in 18 months and others are talking about higher prices. There was an article on AOL where they talked about how you could get to $2750. It's not hard to find articles

GLENN: Right.

ALBARIAN: And experts talking about gold at much, much higher prices.

GLENN: So there's two things that I want to know about. The IMF has never been allowed to sell their gold. The International Monetary Fund. They've never been allowed to sell their gold. We have veto power so they can't sell their gold unless the United States says you go ahead and sell your gold. Well, they're selling their gold now. So we gave them permission. Now, I'm trying to noodle this, and you'd be a better expert on this. I'm trying to figure out if I'm holding something that's worth a lot of money, the last thing I want to do is allow more of it, a lot more of it to go out on the open market because it devalues what I am holding. Unless you want to make sure psychologically that the gold price stays, you know, out of the $2,000, $3,000 range because that makes people psychologically panic about the dollar. Does that make sense to you?

ALBARIAN: I think it makes perfect sense. There's been talk that the gold price has been held down by central banks, by governments for that very reason. If all of a sudden you have a record price in gold, then people start turning to gold. And when we saw gold hit a new record price, it wasn't just the investing public but all of a sudden you see Wall Street saying, hey, maybe it makes sense to have a little bit of gold in your portfolio. There's really not that much gold out there. And if gold is looked at as an alternative currency, you could see these $1500 or $2500 gold prices in the future. And I think that frankly makes people nervous.

GLENN: You know, Mark, I have I think people are running out of options on what, you know, could be worth something at all. You know, I've said this for over, what, maybe two years. You have to think like a German Jew, 1934. Maybe 1931. You have to see that what we're doing here doesn't make any sense and it's been done before. So what do they do? People had food, diamonds, gold, artwork, anything of value that people would say, oh, you know what, things are going to change. So I'll be able to trade in gold or whatever. But there is a disturbing article that I read from Nouriel Roubini who said that because dollars are so cheap now this is frightening to me. Because dollars are so cheap, we're doing now on the global scale what George Bush did and Alan Greenspan with the housing market except now we're doing it with commodities. And people are taking giant companies and giant hedge funds and countries are gobbling up these dollars and they're buying gold because and other commodities, oil, et cetera, et cetera, which is driving the prices up and they're doing it because they know the dollar, they can make more in the commodities in the short term than they can in the dollar because the dollar is going to continue to fall. But at some point that system implodes and so the commodities do what our houses have done and that bubble bursts. Are you concerned about a gold or a commodities bubble?

ALBARIAN: I don't think we're at the bubble levels. You know, in talking about gold at $850 back in 1980, you know, we're looking back almost, you know, well, 30 years ago. The idea that the inflation adjusted high is $2,000 to $2500, I just don't think $1100 gold right now could be looked at as a bubble, but I will agree that a lot of what you're seeing with the gold price isn't about gold so much as the devaluation of the decrease in the value of the dollar. And I think we're seeing that not only with gold but we're seeing it with oil and other commodities. People want, traders want something of tangible value. And you talk about it all the time. You have politicians that spend money that's not there. And when you are spending money that's not there, countries look at you and say, how can we trust the value of your paper if you can't keep your finances in order.

GLENN: Do you sell, do you sell any paper gold? I think you do, don't you?

ALBARIAN: No, we don't.

GLENN: You don't?

ALBARIAN: We give people an option and we arrange independent storage for them.

GLENN: Okay.

ALBARIAN: But the gold is really there.

GLENN: Okay.

ALBARIAN: A lot of the gold that you see Wall Street trades back and forth is options or the right to acquire it.

GLENN: That's stupid.

ALBARIAN: It's not necessarily real.

GLENN: That's just stupid. And one quick last question. I've only got 30 seconds. I've been buying gold coins for a long time, antique gold coins. You can do your own homework if you are listening to figure out why. But I had the last time I bought gold from you, I had a hard time. You are one of the only people that could still do it. And you can't really buy American gold coins anymore. Is the world running short on antique gold coins?

ALBARIAN: We're seeing some scarcity there because they are antiques, they are not making any more of them. But being one of the largest, if not the largest we have good inventories and good sources and it's our job to always have gold in stock and I hope we can.

GLENN: Okay, from Goldline, Mark Albarian. Thank you very much. We'll talk again.

Trump is INDICTED: Here are the TOP 5 questions about Trump's indictment ANSWERED

Brandon Bell / Staff, J2R | Getty Images

BREAKING NEWS: Trump has been INDICTED.

Today marks the first time in U.S. history that a President has been criminally indicted—but what does that actually mean? Unless you have a legal or political background, it is difficult to follow what will actually happen surrounding Trump's indictment.

Glenn will provide more clarity in coming days as this story continues to unfold. In the meantime, Americans are wondering what Trump's indictment means and what comes next.

Here are five things you NEED to know about Trump's indictment.

1. What does "indictment" actually mean?

To "indict" someone is the formal term used when a person is notified that they have been officially charged with a crime. In this case, the Manhattan grand jury found that the Manhattan District Attorney, Alvin Bragg, brought forward enough evidence to criminally charge Trump with a crime.

2. What crime is Trump being charged with?

Though the story is still developing, at the time of this article's publication, Trump was apparently being charged with mislabeling campaign finance funds. A week before the 2016 Presidential election, adult film star Stormy Daniels claimed she allegedly slept with Trump years prior and threatened to go public with the story. Trump's then-advisor Michael Cohen paid Stormy Daniels $130,000 and labeled the fee as "legal fees" in their campaign finances. Trump repaid Cohen once he was elected to office.

Mislabeling legal fees is a misdemeanor—not a felony—yet Trump is being federally charged. Hillary Clinton was guilty of the same misdemeanor, mislabeling funding for the Steele Dossier as "legal fees" in her campaign finances. Why did she get away with paying $130,000 to the Federal Election Commission, while Trump is facing federal criminal charges?

Mislabeling campaign finances can't be considered a felony unless there is evidence it was used to shield a federal crime. So what was Trump covering up? Even NBC admitted that Bragg's case to prove this point was flimsy to begin with. It has not been revealed what evidence was presented to the grand jury to determine that Trump is guilty of a federal crime.

3. What is a "grand jury" and how are they able to indict Trump?

A "grand jury" is a type of federal jury that evaluates criminal cases. A U.S. prosecutor has to submit evidence before a grand jury, who will determine whether there is “probable cause” to believe an individual has committed a crime and should be put on trial. In this case, the Manhattan grand jury ruled that the evidence submitted by Manhattan DA Bragg was sufficient enough to believe that Trump had committed a federal crime.

Grand jury proceedings are closed to the public, thus, we don't have access to the evidence Bragg submitted before the jury.

4. Will Trump be arrested?

The simple answer is: yes.

Trump's arrest won't look like your typical crime shows with police officers busting through Trump's door and handcuffing him. The district attorney’s office will ask Trump’s attorney when he plans to come to New York to be arraigned, which means to appear before a court to face criminal charges. Once Trump arrives in Manhattan, he will likely surrender himself at the courthouse where he will be formally "arrested," taken to get fingerprinted, get a mugshot taken, and even a DNA test. He will then await his trial to defend himself against the charges.

5. Will Trump appear in court?

Yes. Once Trump is arraigned, he will await his court date to defend himself against his charges. Trump will likely pay bail to avoid being confined to the courthouse or a jail cell.

Buckle up, America! Be sure to tune into the Glenn Beck Program to stay up-to-date on all the developments surrounding Trump's indictment. And if you haven't already, be sure to check out last week's episode of Glenn TV where Glenn dove deep into the "big distraction"—the REAL reason they're going after Trump.

Message to America after the Nashville massacre: We are worshiping a FALSE GOD

BRENDAN SMIALOWSKI / Contributor , DEA / A. VERGANI / Contributor , Chip Somodevilla / Staff | Getty Images.

We had yet another tragic school shooting. There is only one way to begin to address this tragedy, a tragedy that has repeated itself all too often. We must begin by mourning with the families of the victims. Our hearts break for the victims, their families, and the entire community affected by this senseless act of violence.

I'm a parent, and I mourn with you as one.

I'm also a concerned citizen deeply concerned with the profound brokenness that pervades our current culture. All of us fear for the safety of our children and our loved ones. We share the same goal of creating a safe and secure environment for everyone, especially for our children, in our schools, in places of learning and growth.

It is natural for all of us to feel anger and fear during these times, and it may seem unnatural to rise above it. But we must. It's essential to remember that we have to come together as a society, together, and address the root causes of violence. Let me state it plainly: the root cause is not the gun, but rather, the misuse of them by individuals who are mentally ill or have criminal intent. I, for one, want to address the problem of gun violence. I am worried about this with my own children. Every American, regardless of who you voted for, feels the same.

But enough is enough.

When will we address mental health? Do you know the damage we have done to our children, just because of COVID? We have destroyed the mental health of our children. Our country's suicide rate is proof enough that something has gone deeply awry within the soul of our nation—the souls of our children. What is causing all of this? It is the loss of the old guards of our civilization.

Something has gone deeply awry within the soul of our nation.

There are several groups that we need to address. First, to the parents and families of the Nashville victims, I'm sorry. We love you. Our society is sick—it is sick and unrecognizable to most of us. Your loved ones have paid the ultimate price for that illness. I'm sorry because I'm part of the society that has an unwillingness to see the truth, apparently.

Second, to the mother of the 27-year-old shooter, we mourn with you as well. I've read your old posts. You've been fighting against guns in school. While we disagree, we both want this violence to end. I've also read your posts about your children, and how proud you are. There were so many moments of beauty. You feel the same way every mom and dad feels about their child, and you were right to feel that way.

Today, I can only imagine how confused you must be. You should know, we love you too. You lost a child as well. You lost a child to the same society that has an unwillingness to see the truth. You should also know, you are part of our community, and we mourn with you as well.

You lost a child to the same society that has an unwillingness to see the truth.

Now, lastly, to the political class and the media elites. You have been dividing us for years. At first, I think I was a part of that. I've tried really hard not to be. However, you're not sincere in anything you do. At first, maybe you thought you were right in your motivations, but then every time society proved you wrong and you just dug your heels in.

Why do you continue to divide us? Is it just to win over your opponent? Is it just to crush the other side? Is it because you believe that everyone who doesn't vote your way is evil? Or is it that you just no longer care? I'm one American among many who no longer believe in you.

I can understand how easy it is to think people who vote differently than me are the problem. I really can, and those people aren't the problem. The problem begins with people, like you, who only care about money or power, or are so arrogant that they think they know better than the rest of us. You make yourselves and your system into a false god. The arrogance.

You make yourselves and your system into a false god.

You go after the disaffected, the weak, and the hopeless, and you prey on these people, promising to be their savior, hoping they will help you gain power over those who you call your enemies. You have lied. You have lied through half-truths. You have lied through omission. You have lied through fabrications. You have distorted the truth to the degree that it's no longer recognizable.

You call men women, and women men. In your world, our children are legally children until 25 for insurance purposes. Yet you also consider our children "adult" enough to alter their own bodies at eight years old. You have called evil good, and good evil. We do not have a gun problem in America. Per capita, there were more gun owners 50 years ago than there are right now, yet they didn't have these problems. Is it the gun, or is it the people?

What we have in America is a TRUTH problem. We have turned ourselves inside out. We have turned ourselves against the basic principles that gave us life and freedom, and the promise of a fuller life. Our women have no more children, and our men have lost all meaning, reason, and faith.

What we have in America is a TRUTH problem.

Just yesterday, the Wall Street Journal released a poll that showed what principles the American people value most. Children, God, family—the values that used to define us as Americans—were LAST on the list. What was on the top? Money was in the top three. Money? Since when has money become a principle?

Perhaps it is because money is the god that so many worship—money over principles every time a corrupt bank is bailed out, money over principles for those who never want to pay their school tuition, every time we make someone who didn't go to school pay for someone else's tuition.

What kind of god do we worship, that makes children so allegedly flawed that we lay them on our metal alters to the gods in the surgical gowns, who can mutilate and sterilize them to make them "just the way they were intended?" That's an ancient god I don't recognize.

We all know the words that were written in the summer of 1776: "We hold these truths." But other words were written later that year when things weren't so sunny. It was December 21st: "These are the times that try men's souls." These words turned our nation around. These truly are the times that try men's souls, and the modern-day patriots—the lovers of truth and justice—must stand firm in the face of an ever-growing storm of disinformation and division. The weak-hearted are not going to be able to weather the storm, but those with the courage to fight for what is true will emerge victorious.

Lovers of truth and justice must stand firm in the face of an ever-growing storm of disinformation and division.

We live in a time when our faith in institutions, our faith in everything we know, is at an all-time low. Our republic is under siege, and the only way out is to remember our founding principles. We are drowning in a sea of lies. Cling to the life raft! Cling to the enduring belief in life and liberty, truth and justice. We'll only be able to find our way out if we can rekindle the flame of unity and embrace the American spirit that carried us through so many crises before. We have been here before.

But this time, in our current American crisis, we have to constantly remind ourselves that our fight isn't against an external enemy that we conquer. Our enemy is causing the internal divisions that are threatening to tear us apart, divisions that are created by monsters of men. These monsters are not just tearing us apart individual to individual, but tearing us and our children out from the inside out.

Cling to the enduring belief in life and liberty, truth and justice.

America, it is high time to reaffirm our commitment to the values that define us as a people. It is our collective responsibility, as free people, to stand up for those principles of truth. The seeds of division have been sewn by those who seek to manipulate and exploit us for their own gain. They shatter our trust in one another to instill fear and hatred where there should be understanding and compassion.

Truth is now clouded by conspiracy. The lines between fact and fiction have been blurred. Truth is a light. Everything we face is not insurmountable, but now is the time to return to truth and decency and justice for all.

Our kids are the ones who are going to pay the highest of prices for what we do now.

What's on Glenn's desk? THIS graphic novel's dystopia has TERRIFYING similarities to our world.

Matt Battaglia

Imagine a global health crisis. Everyone is ordered to "stay-at-home" and only to venture out for "essential" purposes. Travel is regulated by government surveillance, with only permitted workers allowed to go into the city. Inflation is at historic levels, and basic necessities, such as food and gasoline, become invaluable commodities.

Sound familiar?

As the COVID pandemic begins to recede into our cultural memory, it is harrowing to remember the sheer breadth of power we surrendered to our government in order to "keep us safe." We would be foolish to think that the pandemic wasn't a repetition of an age-old tale in the west, and we would be even more naive to believe that we aren't at risk of repeating it in the future: the government's manipulation of a crisis to secure its complete control over its people.

We would be foolish to think that the pandemic wasn't a repetition of an age-old tale

Filmmaker Matt Battaglia published a first in what is likely to become an emerging genre of post-pandemic apocalyptic literature, bringing to life the harrowing consequences of what could happen if we continue to surrender our liberty to the government for the sake of "safety and security."

Battaglia's graphic novel, House on Fire, brings this world to life in an even more vivid dimension through pictures, telling the story of a single day of a man living in this apocalyptic world that doesn't seem too distant from our own.

The setting

Imagine there is another global pandemic of a respiratory virus that is similar to COVID. The government implements COVID-like lockdowns and restrictions from their 2020 blueprint, but this time, the regulations are here to stay. After all, this pandemic isn't the only threat allegedly facing the American people. The future of our planet is at stake. On top of the pandemic regulations, our government restricts the types of food available for consumption, implements individual carbon quotas, mandates electric vehicles, eliminates gas-powered heating, cars, stoves, etc.

Of course, the pandemic and climate change policies require major government funding, so the President uses his emergency powers and executive orders to push through a multi-trillion-dollar proposal that secures the funding necessary to finance the "clean and safe transition." Yes, inflation will be an issue, but that is a small price to pay to secure our health and the future of our planet. Don't forget to include foreign aid for our warring allies in the multi-trillion-dollar packages as well.

Inflation is a small price to pay to secure the future of our planet.

Now fast forward 20 years of living under these all-too-familiar draconian policies. This is Battaglia's apocalyptic world where we meet our nameless main character, causing the reader to question whether our world could devolve into Battaglia's in such a short amount of time.

The plot

Battaglia's story begins with our character kissing his wife goodbye and leaving their country home on a one-day mission to the city in search of a cure for his wife's most recent bout of the illness that is, presumably, a result of the pandemic.

All of the themes that contribute to the apocalyptic nature of Battaglia's world are familiar to us, disturbingly so. Our character drives through country roads, passing by gas signs that list $20 per gallon prices. His radio reports on another invasion of Poland, while country fields transform into steeple-like towers of run-down factories, like old monuments to former industries of a time long past.

Our character reaches the city limit, a border-like security checkpoint where he is required to scan his identity card to enter the city, the likes of which we see in China today. Masks required. He then drives through empty streets of a once bustling city, save for several suspect people who seem to blend into the crevices of alleyways and corners, shrouded by their masks.

Finally, our character meets with his "contact," who gives him some type of canister, supposedly a remedy for his wife's ailment. He barters with several cuts of meat, a rarity more valuable than inflated cash in this "Green New World." From this point onward, things take a turn for our character—for the worst.

Glenn's warning

Many of these scenes bring to life themes that Glenn has been warning about for years, from the government's use of a pandemic to seize control over its people, the depleted dollar and record-high inflation resulting from government spending and foreign conflicts, the Great Reset's goals to eliminate meat, gas-powered products, and other "high emissions products." All of these will be done in the name of seemingly righteous goals: "health," "safety," "security," and the "future of our planet" come to mind. However, we won't realize our freedoms will be a faint memory of the past until it is too late.

All of these measures will be done in the name of seemingly "righteous" goals.

House on Fire's poignant ending leaves the reader with a terrifying yet vitally important question: are the issues plaguing our society latent within society itself, or do they stem from the troubles within our own souls? Does society mold the human soul, or is society, as Plato puts it, the human soul "writ large?"

Battaglia's short yet powerful graphic novel brings to life many of the themes that Glenn has been warning his listeners. It is sitting on his desk, and we hope it will sit on yours too. It gives the reader a glimpse into our society after years of decay and oppression, calling on the reader to halt its progression before it's too late.

Click HERE to get your own copy!

Elon Musk comments on Glenn's podcast with David Sacks, takes jab at U.S. foreign policy

Pool / Pool | Getty Images

Elon Musk chimed into Glenn's conversation about foreign policy with PayPal's founding COO David Sacks on the most recent installment of the Glenn Beck Podcast.

Musk tweeted, "US foreign policy is bronze tier on a good day!" He hit the nail on the head, as Glenn and Sacks discussed the deterioration of U.S. foreign policy and the rising probability of war with Russia and China.

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Glenn asked Sacks, "How likely do you think it is that we'd be headed towards war?" Sacks responded that he has been warning about the imminent threat of war since the Ukraine situation started and lamented that we have entered into a "proxy war of choice" with Russia.

"We engaged in a series of actions going back to 2008 that the Russians have viewed as highly provocative," Sacks said, decrying the continued expansion of NATO into Ukraine. Russia has continually warned the U.S. against expanding NATO into Ukraine, yet the State Department "crusaders" have persisted in their NATO-driven objective, which is "unacceptable to the Russians," Sacks said, "in the same way the Soviet Union trying to put nukes in Cuba was unacceptable to us in 1962."

If NATO expansion isn't enough to provoke a response from the Russian bear, our ongoing and escalating aid to Ukraine certainly is. As Sacks explained, "We're not just providing [Ukraine] with money and weapons. We are providing them with intelligence, we have commandos on the ground" and we are even directing Ukrainian soldiers on how to use our weapons on how to hit specific Russian targets. As Sacks said, "We are providing the kill chain" for Ukraine.

To put this in perspective, that would be equivalent to Russian soldiers instructing Taliban members on how to use Russian weapons to hit specific U.S. camps in Afghanistan. In that situation, wouldn't we accuse Russia of engaging in an act of war? The term "proxy" is increasingly diminishing in its relevance towards the U.S.'s involvement in the Ukrainian conflict. We aren't engaging in a "proxy war" anymore. As Sacks said, "We are effectively a co-belligerent in this conflict."

It is no wonder that we are driving Russia into China's arms while both Putin and Xi continue to forge ties with sworn enemies of the U.S., including Iran and North Korea. If we continue to "poke the bear," it is only a matter of time before Russia finds its confidence with its newly-forged allies to retaliate against its aggressor.

Musk rightly said, "US foreign policy is bronze tier on a good day." But U.S. foreign policy has not even had a "good day" in some time. We are not only jeopardizing our own international reputation with ongoing aid to Ukraine; we are jeopardizing the whole world order by marching NATO increasingly toward war. Elites in the Biden administration and the military industrial complex may benefit from aggravating Russia towards war, but it certainly doesn't benefit anyone else, in the U.S. and abroad.

There are few tools in the conservative's kit to fight back against the elites' dangerous agenda. However, Musk mentioned one of these vital tools in a comment he tweeted on Glenn's interview with San Fransicko author and Twitter Files contributor Michael Schellenberger back in January: "Citizen journalism is vital to the future of civilization."