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Is a Global Gold "Ponzi Scheme" About to Come Crashing Down?

Something weird is going on with gold, related to tariffs and a possible audit, that could drastically change the value of the dollar. Glenn reviews an X thread from user Matt Smith and warns that we must start looking for the word "rehypothecation" to appear in news stories. If that happens, it would mean, "no one owns anything." But this isn't the only possible future. There's a chance, Glenn explains, that Trump could return the US dollar to the gold standard.

Read the X thread: https://x.com/mattpheus/status/188961...

Transcript

Below is a rush transcript that may contain errors

GLENN: They're great. There is a great thread from Matt Smith, that I retweeted last night. And it's about the -- the dollar and our economy and everyone needs to read this.

What the average person is going to be talking about is my groceries are going up. And, yes, they are. That's not anything from this administration. That is from all of the lies, that the media was telling you that things were strong and it's getting better. Yada, yada.

No. It's not. Those numbers and all of that stuff were garbage!

And it's not getting better yet.

And Donald Trump is cutting, cutting, cutting.

But we also need to cut regulations.

We need to get business back on its feet.

These two things have to have happen in a coordinated passion.

Otherwise, you will get the spending.

Remember, most of our GDP. A lot of our GDP is coming from the government.

They're spending all of this money.

You're not spending money. They're spending money. That's keeping the government's GDP. So if you cut, our GDP goes down. Which means all kinds of numbers start to fluctuate from interest rates and everything else. So we want a growing GDP, which means we have to grow real wealth. We have to grow real business. Not NGOs. And the one guy that I think can do it is Donald Trump. But there's a tweet, that caught my eye yesterday. Because it starts with gold, and I've been following the comments.

There's something going on with gold, and nobody really knows what it is. Somebody here in the United States is buying a crap load of gold. We think, I hope. It's the Treasury. Or the central bank. The Fed. But somebody is taking huge physical deliveries. And it's causing shortages, in London. Where they're -- they buy and sell gold.

There are shortages now of gold. Because somebody is buying it. And shipping it here. Somebody with very deep pockets. Okay. So why? Now, this is all theory. That's fact. Here's the theory of what's going on.

They're preparing for a full-on gold audit. We talked about this yesterday. The government right now claims on its balance sheet, as an asset, all of this gold.

And it's valued at $45 an ounce. In case, you haven't heard, it's $2,900 an ounce. So they're talking now, about boosting the price of gold, at least market to market, but maybe even making it 5,000 dollars an ounce. Okay? If that happens, the balance sheet starts to fall into line, and our debt to GDP is not as bad as it really is. Right now. Okay?

Just start claiming the truth about gold, and our balance sheet starts to come into line. Start taking our minerals, start taking our oil. And claiming those as assets, and putting those on the balance sheet. Which we can do. And it's not a bad idea. Unless, you know, we lose in the end.

Because then we lose all of our assets, our natural it assets. You put those on the balance sheet. This helps strengthen the United States. Because we're coming a place where we're not going to be able to finance the debt. Who wants to write the United States a new long-term loan, at less than really market value, and market value, I mean, you know -- if you walked into a bank, and you had the credit report that the United States of America has. What do you think the bank is going to charge you in interest?

You're a risk. You're just addicted to spending. You're doing ridiculous things. I'm sorry.

Now, they might write you a check, if you have all of this stuff on your balance sheet. Okay?

And that's why they're doing it. They're trying to reshore up our balance sheet, make ourselves healthier than we are. Because we're at the end of the dollar. We're at the end of this financial system. So this is an endgame. It's why tariffs are being, you know, brought in.

It's a -- it's a -- to -- to force others to start to see the sorry situation they're in, I mean. Europe. If this deal with Ukraine goes through, which, by the way, yesterday, had a great -- a perfect phone call with Putin. And it did go really, really well.

And Donald Trump is saying, yeah. You know, we might have to have the resources, from you. We might. We want your rare earth minerals.

Because of what we've already given you.

We want that in exchange.

He's doing that as a negotiating tactic with everybody.

And he's putting on notice, the European Union.

We're not in this anymore. This is your problem. We leave. We're not rebuilding Ukraine. You have to do it.

And you're going to have to protect it. And we're not going to guarantee its protection. So if you want it protected. You do it. They're talking $3 trillion to be able to rebuild and protect.

Europe can't handle that!

But, you know what, Europe, neither can we!

So he's putting everybody in the same situation.

And this is going to cause inflation to rise. It's going to!

It will punish the average person. Because tariffs and everything else. If they're not done exactly right, it will punish with higher prices.

However, he's betting that wages will also rise. Because he's forcing people to keep their profits here.

And make jobs here.

If everything goes right, what the -- the trade on gold is showing us, is that we may be going towards a gold-backed financial system. Or gold-backed currency of some sort.

The Fed could even be shut down. There is something big in the wind, and nobody knows what it is, for sure.

So if -- what do you do as a regular person?

You need to understand that the dollar could be by design. Being collapsed.

That's exactly what the Biden administration was doing.

Collapsing the dollar. But they didn't have a plan, to replace it, other than a digital dollar. And, you know, global slavery.

I'm not sure what the plan is here. But it seems much more American-centric. Good for America. And good for the rest of the world.

And it doesn't look like it's taking freedom away from people. But we have to watch it.

The situation with the economy is really dire.

That hasn't gone away!

What we have is a -- one of the best mechanics who have hired the rest of the best mechanics. To come in, put up the hood, and say, we want to save this engine!
How do we do it?

And they're applying that. We don't know what direction. But a -- a huge sign that something big is coming, is the amount of gold that is being purchased. And the key here that you have to understand, shortages in London, gold flowing into the US at record levels. Somebody with deep pockets. This is what Matt Smith is scooping up gold.

They're reshoring gold, that might have been leased out. What does that mean?

That the United States is buying all this gold. Why?

Because they're reshoring the gold that might have been leased out. That's rehypothecation. That's just the word away from the word that I said, if you see rehypothecation.

Begin to be bantered around. Look out.

What rehypothecation is, is we've taken one asset. And we've -- we've counted it, on several different accounting books.

So we counted at the United States. But also, we've -- we've leased this gold out to Germany.

So Germany could get more money, based on their gold. But their gold is our gold.

And our gold is England's gold. So that's how dire this is. Is we're beginning to enter the world of rehypothecation. Which means, no one knows anything. Because your house, you say, well, I've got my loan through Citibank. Because Citibank has rehypothesized -- has used rehypothecation to put that on their balance sheet, as that's their house. But they sold it in a package to eight different banks. And they're all counting that house, yours. As an asset. So when they all start to go down, they all say, well, we've got all of these assets. Well, no, you don't.

Which one of you has the 100 percent.

You're all claiming 100 percent of Bob Smith's house. Which one actually has it? Well, they all do. This is such a Ponzi scheme. Where -- you know what this is?

This is the story of The Producers. You ever see the movie, or the stage show Mel Brooks, the Producers. Why did they get into trouble? Because they were selling over 100 percent of the play. They kept selling the play. You get 100 percent. You get 100 percent. You get 100 percent. All thinking, that it's not -- that that particular show, wouldn't make any money.

It won't be a success. It's the worst play ever. So it will close. And nobody will audit and say, wait a minute. You sold 100 percent. Nobody will ask. They just want to get away from it.

They lost their money. It closed.

But if it's a success, they now have to pay 100 percent of the proceeds to 14 different people!

It's a scam. That's what's happened here. They have sold 100 percent of your house, or in this case, the gold!

To several different people. When everybody says, I'm in trouble. I want my money back. I need my gold. Trouble.

Trouble.

STU: I mean, it just seems like the type of thing that's almost impossible to unwind. Right?

If it's that deep, how do you unwind it, or do you just protect yourself and your family?

GLENN: For you. You -- you make sure that if your house is paid for. If you have anything paid for, you have the title.

You know where the title is, you have the title.

Okay? So you're not in as bad of shape.

If you own things. You own your car. Good.

The title.

You own your house, good. Have the title.

It's really good, if you're buying a house, to make sure that that loan is staying local.

That they're not reselling that loan. That it's staying with one bank. And it's not -- it's not being sold, what were those cold? Credit default swaps.

STU: I remember those things. Yeah.

GLENN: That it's not being sold like that. Because that's what causes the problem.

And -- and so you just need assets.

You need real assets. If you can buy gold, you should buy gold.

It especially, if they're going to start counting that on the balance sheet. If they change the price of gold, to -- from $45, to $4,500, that means they're going to have to do that worldwide. So gold all of a sudden becomes $4,500 an ounce. Okay. As your that are goes down, your gold will go through the roof.

STU: This is much better when Margot Robbie is telling me about it, in a bathtub. That is -- the delivery --

GLENN: I can run the water.

STU: No. Please don't. Oh, my gosh. Sara just threw up on the board. Stations, we may have some technical difficulties.

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Salena Zito reveals WHY Trump said “Fight! Fight! Fight!”

“I have a new purpose,” then-candidate Donald Trump told reporter Salena Zito after surviving the assassination attempt in Butler, Pennsylvania. Salena joins Glenn Beck to reveal what Trump told her about God, his purpose in life, and why he really said, “Fight! Fight! Fight!”, as she details in her new book, “Butler: The Untold Story of the Near Assassination of Donald Trump and the Fight for America's Heartland”.

Transcript

Below is a rush transcript that may contain errors

GLENN: Salena, congratulations on your book. It is so good.

Just started reading it. Or listening to it, last night.

And I wish you would have -- I wish you would have read it. But, you know, the lady you have reading it is really good.

I just enjoy the way you tell stories.

The writing of this is the best explanation on who Trump supporters are. That I think I've ever read, from anybody.

It's really good.

And the description of your experience there at the edge of the stage with Donald Trump is pretty remarkable as well. Welcome to the program.

SALENA: Thank you, Glenn. Thank you so much for having me.

You know, I was thinking about this, as I was ready to come on. You and I have been along for this ride forever. For what?

Since 2006? 2005?

Like 20 years, right?

GLENN: Yeah. Yeah.

SALENA: And I've been chronicling the American people for probably ten more years, before that. And it's really remarkable to me, as watching how this coalition has grown. Right?

And watching how people have the -- have become more aspirational.

And that's -- and that is what the conservative populist coalition is, right?

It is the aspirations of many, but the celebration of the individual.

And chronicling them, yeah. Has been -- has been, a great honor.

GLENN: You know, I was thinking about this yesterday, when -- when Elon Musk said he was starting another party.

And somebody asked me, well, isn't he doing what the Tea Party tried to do?

No. The Tea Party was not going to start a new party.

It was to -- you know, it was to coerce and convince the Republican Party to do the right thing. And it worked in many ways. It didn't accomplish what we hoped.

But it did accomplish a lot of things.

Donald Trump is a result of the Tea Party.

I truly believe that. And a lot of the people that were -- right?

Were with Donald Trump, are the people that were with the Tea Party.


SALENA: That's absolutely right.

So that was the inception.

So American politics has always had movements, that have been just outside of a party. Or within a party.

That galvanize and broaden the coalition. Right? They don't take away. Or walk away, and become another party.

If anything, if there is a third party out there, it's almost a Republican Party.

Because it has changed in so many viable and meaningful ways. And the Tea Party didn't go away. It strengthened and broadened the Republican Party. Because these weren't just Republicans that became part of this party.

It was independents. It was Democrats.

And just unhappy with the establishment Republicans. And unhappy with Democrats.

And that -- that movement is what we -- what I see today.

What I see every day. What I saw that day, in butler, when I showed I happen at that rally.

As I do, so many rallies, you know, throughout my career. And that one was riveting and changed everything.

GLENN: You made a great case in the opening chapter. You talk about how things were going for Donald Trump.

And how this moment really did change everything for Donald Trump.

Changed the trajectory, changed the mood.

I mean, Elon Musk was not on the Trump train, until this.

SALENA: Yeah.

GLENN: Moment. What do I -- what changed? How -- how did that work?

And -- and I contend, that we would have much more profound change, had the media actually done their job and reported this the way it really was. Pragmatism

SALENA: You know, and people will find this in the book. I'm laying on the ground with an agent on top of me.

I'm 4 feet away from the president.

And there's -- there's notices coming up on my phone. Saying, he was hit by broken glass.

And to this take, that remains part of this sibling culture, in American politics.

Because reporters were -- were so anxious to -- to right what they believed happened.

As opposed to what happened.

And it's been a continual frustration of mine, as a reporter, who is on the ground, all the time.

And I'll tell you, what changed in that moment.

And I say a nuance, and I believe nuance is dead in American journalism.

But it was a nuance and it was a powerful conversation, that I had with President Trump, the next day. He called me the next morning.

But it's a powerful conversation I had with him, just two weeks ago.

When he made this decision to say, fight, fight, fight.

People have put in their heads, why they think he said it. But he told me why he said that. And he said, Salena, in that moment, I was not Donald Trump the man. I was a former president. I was quite possibly going to be president again.

And I had an obligation to the country, and to the office that I have served in, to project strength. To project resolve.

To project that we will not be defeated.

And it's sort of like a symbolic eagle, that is always -- you know, that symbol that we look at, when we think about our country.

He said, that's why I said that. I didn't want the people behind me panicking. I didn't want the people watching, panicking.

I had to show strength. And it's that nuance -- that I think people really picked up on.

And galvanized people.

GLENN: So he told me, when he was laying down on the stage.

And you can hear him. Let me get up. Let me get up.

I've got to get up.

He told me, as I was laying on the stage. I asked him, what were you thinking? What was going through your head? Now, Salena, I don't know about you.

But with me. It would be like, how do I get off the stage? My first was survival.

He said, what was going on through his mind was, you're not pathetic. This is pathetic.

You're not afraid. Get up.

Get up.

And so is that what informed his fight, fight, fight, of that by the time that he's standing up, he's thinking, I'm a symbol? Or do you think he was thinking, I'm a symbol, this looks pathetic. It makes you look weak.

Stand up. How do you think that actually happened?

SALENA: He thinks, and we just talked about this weeks ago. He -- you know, and this is something that he's really thought about.

Right? You know, he's gone over and over and over. And also, purpose and God. Right? These are things that have lingered with him.

You know, he -- he thought, yes.

He did think, it was pathetic that he was on the ground. But he wasn't thinking about, I'm Donald Trump. It's pathetic.

He's thinking, my country is symbolically on the ground. I need to get up, and I need to show that my country is strong.

That our country is resolute.

And I need people to see that.

We can't go on looking like pathetic.

Right?

And I think that then goes to that image of Biden.

GLENN: You have been with so many presidents.

How many presidents do you think that you've personally been with, would have thought that and reacted that way?

SALENA: Probably only Reagan. Reagan would have. Reagan probably would have thought that.

And if you remember how he was out like standing outside.

You know, waving out the window. Right?

After he was shot.

GLENN: At the hospital, right.

SALENA: Had he not been knocked out, unconscious, you know, he probably would have done the same thing.

Because he was someone who deeply believed in American exceptionalism.

And American exceptionalism does not go lay on the ground.

GLENN: And the symbol.

Right. The symbol of the presidency.

SALENA: Yeah. Absolutely. And I think that affects him today.

GLENN: So let me go back to God.

Because you talked to him the next day. And your book Butler.

He calls you up.

I love the fact that your parents would be ashamed of you. On what you said to him.

The language you used. That you just have to read the book.

It's just a great part.

But he calls you the next morning. And wants to know if you're okay.

And you -- you then start talking to him, about God.

And I was -- I was thinking about this, as I was listening to it. You know, Lincoln said, I wasn't -- I wasn't a Christian.

Even though, he was.

I wasn't a Christian, when I was elected. I wasn't a Christian when my son died.

I became a Christian at Gettysburg.

Is -- is -- I mean, I believe Donald Trump always believes in God, et cetera, et cetera.

Do you think there was a real profound change at Butler with him?


SALENA: Absolutely. You know, he called me seven times that day. Seven times, the take after seven.

GLENN: Crazy.

SALENA: Talked about. And I think he was looking for someone that he knew, that was there. And to try to sort it out.

Right? And I let him do most of the talking. I didn't pressure him.

At all. I believed that he was having -- you know, he was struggling. And he needed to just talk. And I believed my purpose was to listen.

Right? I know other reporters would have handled it differently. And that's okay. That's not the kind of reporter that I am.

And I myself was having my own like, why didn't I die?

Right?

Because it went right over my head.

And -- and so I -- he had the conversation about God.

He's funny. I thought it was the biggest mosquito in the world that hit me.

But he had talked profoundly about purpose. You know, and God.

And how God was in that moment.

It --

GLENN: I love the way you -- in the book, I love the way you said that as he's kind of working it out in his own he head.

He was like, you know, I -- I -- I always knew that there was some sort of, you know -- that God was present.

He said, but now that this has happened.

I look back at all of the trials.

All of the tribulations. Literally, the trials.

All of the things that have happened. And he's like, I realized God was there the whole time.

SALENA: Yes. He does. And it's fascinating to have been that witness to history, to have those conversations with him. Because I'm telling you. And y'all know, I can talk. I didn't say much of anything.

I just -- I just listened. I felt that was my purpose, in that moment.

To give him that space, to work it out.

I'm someone that is, you know, believes in God.

I'm Catholic. I followed my faith.

And -- and so, I thought, well, this is why God put me here. Right?

And to -- to have that -- to hear him talk about purpose, to hear him say, Salena. Why did I put a chart down?

I'm like, sir. I don't know. I thought you were Ross Perot for a second.

He never has a chart. And he laughed. And then he said, why did I put that chart down?

By that term, I never turned my head away from people at the rally. That's true.

That relationship is very transactional. It's very -- they feed off of each other.

It's a very emotive moment when you attend a rally. Because he has a way of talking at a rally. That you believe that you are seeing.

And he said, and I never turn my head away.

I never turn my head away.

Why did I turn my head away?

I don't remember consciously thinking about turning my head away. And then he says to me, that was God, wasn't it?

Yes, sir. It was. It was God.

And he said, that's -- that's why I have a new purpose.

And so, Glenn. I think it's important, when you look at the breadth of what has happened, since he was sworn in.

You see that purpose, every day.

He doesn't let up.

He continues going.

And it brings back to the beginning of the book.

Where you find out, that there was another president that was shot at in Butler.

And that was George Washington. And how different the country would have been, had he died in that moment.

And now think about how different the country would be, had President Trump died in that moment. There would be --

GLENN: We're talking to -- we're talking to Salena Zito. About her new book called Butler. The assassination attempt on President Trump. And it is riveting.

And, you know, it is so good. I wish the press would read it. Because it really explains who we are, who Trump supporters are. Who are, you know, red staters. It is so good at that. She's the best at that.