In 2022, central banks around the world bought a RECORD amount of gold. And, China was one of those powerhouses: ‘For the first time since 2019, they announced they had increased their purchases of gold in November. And now there has been three consecutive months of them buying gold,’ Glenn’s ‘favorite’ financial advisor, Carol Roth, explains. So why is this happening? Roth predicts the CCP is trying to send signals that relate to a ‘new financial world order.’ In this clip, Roth and Glenn discuss the disastrous consequences this could have for the U.S. dollar…
Below is a rush transcript that may contain errors
GLENN: Carol Roth is with us. And Carol Roth is -- she's my -- my favorite adviser on anything the economy. Because she's a former investment banker.
So she understands it at the higher level. And then she realizes, wow. I think all of these people might be in league with Satan. My words, not hers.
But she got out of that. And now she's trying to help the average person. She wrote the war on small business. And she has a new book coming out. We'll talk about here in a second.
CAROL: Thank you, Glenn. Very feisty for a Monday morning. And somebody who went to school in Philadelphia. They do have a really repugnant fan base. So it's somewhat hard to root for them.
GLENN: Yeah. It is. The game hadn't even started, and they were tipping cars over. I mean, they just -- and there's -- to have a fan base, that wants to burn your city to the ground, there's no city better than Philadelphia. To burn down to the ground.
So I'm just saying. Might want to have a fire hydrant near some of the historic places. But the rest of it, eh. Pretty much can go.
Carol, we were talking last week, about what's happening with China. And I know you have been watching the gold reserves from the central banks. Because it's kind of a tip-off, you know, my grandfather used to say.
If we only knew what the rich were doing, before the depression. We could have done that, ourselves.
And so we're watching all those things.
And the rich of the rich, the central banks, seem to be buying a lot of gold.
Except for us.
CAROL: To be fair, we -- we -- and, again, this is all supposed. This is based on what's reported. Who knows what is actually true. Whether it's us or China. But central banks around the world have bought a record amount of gold in 2022. A --
GLENN: Why? Why?
Hang on just a second, Carol. I'm just -- is there a God? As soon as she starts to give me the information, the -- the connection goes. Should we reconnect?
Do you want to reconnect real quick?
Can we do that? Let's reconnect, Carol. Your -- your feed is really bad all of a sudden.
So reconnect, so we can actually understand what she's saying. But don't worry, it's probably nothing important. It's just collapse of the dollar stuff.
So that can wait.
Oh, golly. Okay. You get her reconnected.
Let me see.
Let me -- while we're waiting. Would you just play cut three. This is -- this is one of our generals at the Pentagon this weekend. Which I thought was great.
VOICE: Have you ruled out aliens or extraterrestrials? And if so, why? Because that is what everyone is asking us right now.
VOICE: Thanks for the quelling. I'll let the Intel community and the counterintelligence community figure it out. I haven't ruled out anything at this point. We continue to assess every threat -- potential threat, unknown, that approaches North America, with an attempt to identify it.
So that's a serious general, being asked by a serious, I guess journalist. Because that's what everybody is asking her.
No. Everybody is asking, is it aliens?
Oh, my gosh. All right. Carol, you're back?
CAROL: I am back. I think it was the Chinese spy balloon, that got in my connection.
We were talking about China buying gold. And they obviously didn't want you to have this information.
GLENN: Now we're safe, we're a land line.
So we have some of those old-timey things here.
Carol, tell me what's happening with China buying up the gold.
CAROL: Yeah, so Central Banks around the world. Record year last year. 2022, 1136 tons of gold. The interesting data point was China.
For the first time since 2019, they announced that they had increased their purchases. Their net holdings of gold in November.
And now there's been three consecutive months of them buying gold.
And I really believe, that this is meant as a signal, that could be one of a couple of signals. But they all boil down to signals that relate to a new financial world order.
GLENN: Hmm. Hmm.
Would you do me a favor?
GLENN: I don't mean to put you on a spot, but could you explain how -- this is so out of your wheelhouse. And it's going to come out of left field. Can you explain how electricity is made?
CAROL: I'm the daughter of an electrician. And you're going to put me on the spot, in terms of how electricity is made.
CAROL: But obviously, we do know it's powered by all different sorts of fuels, including particularly in the United States and other places around the world.
GLENN: But what do the fossil -- you burn the fossil fuels to move a turbine, right?
And the turbine is moving, and it's moving, you know, around copper wires. And the copper wires, that is actually inside a magnet. So without magnets, you cannot make electricity, okay?
GLENN: All right. Would you do me a favor?
CAROL: Yes. I believe there's two -- there's two particles. Or whatever of -- minerals, or whatever.
That make magnets.
There's two different materials, that make a magnet.
I believe that like 100 percent of one of those, comes from Russia.
And 100 percent of the other one, comes from China.
And I have read, but I want you to look into this.
I just read this weekend, that both of those countries, just signed an agreement, that they are working together now.
On the magnets.
And that this is going to be another source of like gold for them.
That they will trade, based on -- on those materials as well.
Could you --
CAROL: All right. I don't know about magnets as a hard asset yet.
GLENN: No. I know. I know.
But the only reason why I would bring this up, is because, when you look at what was being done to our electricity, all over.
And you look how we are just -- we're being torched all over the country.
And all over the world.
Things to make electricity, are going to become much more valuable, and I'm -- I don't even care if it's backing up their money.
I want to know if it's true, that they are the main source for all magnets. And if they just did an agreement between each other. That they're working together, on magnets.
CAROL: Yeah. What I can tell you, is that there are a whole slew of commodities, that, you know, need to be dug up from the earth, that, you know, these green energy folks are relying on, for electricity. And, you know, for these other components, that they have.
That, you know, are not only heavily available in China and Russia.
But also, all of the countries, where China has been investing through its Belt and Road initiatives.
So it would not be surprising, that this would be one of many of them.
But do we want to go back to the gold piece?
GLENN: Yes. Yes. Sorry. Sorry. Sorry.
CAROL: No worries. No, this is important stuff.
And I think it's all related. Basically, you know, we really have to blame the government and the Federal Reserve.
We have had the privilege of King dollar being the world's reserve currency. And, you know, not to say that it doesn't have downsides. One of the downsides is that you have to manage the dollar for competing interests.
To benefit the people in the US. As well as global stability.
Our fed and governments have managed to do neither.
We have eroded purchasing power in the US. And we have not had global stability.
So looking at China announcing, okay. We're signaling, that we are increasing our reserves, could very well be a signal, to say, we're trying to, you know -- enhance the -- the natural death of King dollar that the US is putting forth. And they have been talking to all kinds of different countries, about, you know, settling in their currency, the yuan. Which given the fact that they're a communist country, people aren't really excited about.
But if they can then say, well, we can do swap that for gold. We're increasing our gold. That might give more stability through their currency.
On the other hand, it could be a signal, sailing, we're getting ready to invade Taiwan. Because if you look at what happened with Russia. Before they invaded Ukraine. They were shedding US Treasury securities. And they were stocking up on gold. Which is exactly what China is doing right now.
And, you know, so that could be a signal. But that relates back to a New World Order, as well.
From a financial standpoint. Because we have never had a changing of the financial guard. Without a war proceeding it.
So, you know, those two things are somewhat interconnected.
With, you know, the dollar and, you know, kind of the US' global financial standing. Right in the middle of it.
GLENN: Are you following the balloon nonsense at all?
CAROL: I love balloons, so, of course, I'm following the balloon nonsense.
GLENN: Okay. So are you in Chicago now?
CAROL: So I actually am not. I'm in an undisclosed location where the spy balloon cannot get me.
GLENN: Right. Right. I understand that. So they shot one over the Great Lakes. They brought down three of these things.
GLENN: And the Pentagon is like, well, we're not ruling out that that might be an alien ship from outer space.
And you're like, what?
I mean, this is so ridiculous. What!
And I'm just trying to think, what would the advantage be, for China, if it indeed was a Chinese balloon.
To keep sending these things. That wouldn't make sense, would it? To you?
CAROL: I mean, listen, I am a financial person. I'm not a foreign policy person. So my interpretation of this, may make no sense.
But it does seem, you know, a test. You know, how strong is this the US going to react, when we push them, when we look at this administration?
You know, how far can we push the envelope, without them pushing back?
GLENN: So that is the -- that is the -- the idea. And I mean, all of a sudden, we're tough guys on balloons.
I mean, don't blow one up for your kid's birthday party because it might come under attack.
But the -- every --
CAROL: And they're made in China, so they may not be great.
GLENN: Right. You know, everything that is being done now, is to fight a war. At least a financial war.
And I just -- I don't see this going -- you know, we had -- not great relationships with China. Under Donald Trump.
But they were better than this. And this -- this is just not going well. And I -- I would rather not be on the receiving end of balloons, for my party.
From Russia, and China.
At the same time.
CAROL: Yeah. No. It's not a good scenario, and whether that war plays out, you know, purely on a financial basis, where you get these different blocks, that decide to do trade in a different way.
You know, Saudi Arabia, started signaling, that they are open to settling oil. And currencies. Other than the dollar.
We weaponize the dollar, obviously. Against Russia.
CAROL: During the Ukraine. So it could be financial.
You know, God forbid, it could end up having some more physical, actual war components.
But all of these things, you know, speak to the deteriorating strength of the US, you know, in general, and as a financial of power house. And I think that's the concern for your listeners in terms of protecting your assets. Because the US dollar is not what it used to be.
GLENN: Carol Roth, she's the author of a brand-new book called You Will Own Nothing. We're showing the cover of it. When does it come out, Carol?
CAROL: Oh, the release. So this is the first time the cover has ever been seen. So a little sneak peek for the Glenn Beck folks.
It comes out May 9th. If you go to CarolRoth.com/Glenn, you can leave your email, and I'll send you more information as that becomes more available.
But we're talking about all these new financial world order things, and how you can fight back. That's the crux of it.
GLENN: That's fantastic. Thank you so much, Carol. Appreciate it. You will own nothing. Make sure you grab your copy, and preorder now.
Because I have a feeling, it is going to be big. Thanks, Carol.