RADIOOctober 27, 2022

Why a HUGE ‘migration’ of gold to Asia should WORRY YOU

Bloomberg recently published a piece called, ‘The Gold Market’s Great Migration Sends Bullion Rushing East.’ The article notes that China has imported 160 TONS of gold since April, India has added 80 tons, Turkey 62, and the list goes on. Is the U.S. — or other Western nations — selling gold to China? And if so, why wouldn’t we be buying it, instead? Carol Roth, financial expert and author of ‘The War On Small Business,’ joins Glenn to make sense of this ‘head scratcher.’ She theorizes what’s REALLY going on with gold, and she explains why the U.S.’s lack of longterm thinking regarding gold, should worry you.

Transcript

Below is a rush transcript that may contain errors

GLENN: All righty then. I saw a -- I saw a disturbing story from Bloomberg. Last week. And I haven't mentioned it because I wanted to make sure I had some facts on it. I called Carol Roth. I called everybody I know. And they said, that doesn't seem. Well, I don't know. Let me look into it.

Carol is here to explain this. Here's what I found in Bloomberg.

Asia has net imported gold from the West. Since April. The trade flow into China. 160 tons of gold. Into India. 80 tons. Into Turkey. Sixty-two. Thailand. 38 tons. Saudi Arabia, 20 tons. Malaysia. 4 tons. Hong Kong 3 tons.

Where did they get all this gold?

Well, the UK sold 15 tons of gold from their Treasury. 32 tons. South Africa. Canada, 33. Australia, 34 tons. And the United States of America, sold 136 tons of gold. If we send that to China, why are we selling gold when smart money would be buying gold? Hopefully, Carol will have an answer for us in 60 seconds.

By the way, as we're talking with this, let me tell you about Goldline. The United States top economists are saying, that we will enter a recession, in the coming 12 months. If we aren't already in one. The only reason why we're still debating this. Is because Republicans don't have control of the House or the Senate. As soon as they get control of the House and the Senate, I can guarantee you, we're in a recession. And it's their policies that put us into one. In fact, Joe Biden said it just this weekend, they're going to collapse the economy. That's their plan. To collapse the economy.

Oh, shut up. How do we -- I was going to say, how do we -- how do we deal with the amount of lies and smoke screens, that are put out?

Well, you just have to know what is true. What is true always has value.

The dollar won't always have value. Because it's no longer true.

There's no full faith and credit in the United States of America anymore. So what is true? What does the world always respond to?

Gold. They always -- look what China is doing. And India. And then look at what we're doing. Goldline has a deal this week, on their historic graded 5-dollar gold Indian coins. With every box of 20 of the graded coin, you'll receive 100 of the silver Mind Your Business bars at no cost.

That's a great deal. Both of these items are ideal for barter. Not that I would suggest you do this. I'm a coin collector myself. 866GOLDLINE. 866GOLDLINE or goldline.com.

Carol, please tell me I'm reading too much into this. Please tell me. Please tell me.

CAROL: So this has been a little bit of a Nancy Drew mystery for me, Glenn.

I saw this Bloomberg piece as well, and it was a little bit of a head scratcher. So I'm going to take you through some of the things I found, and hopefully we can piece this together.

GLENN: Okay. This is really weird.

Because I went to some really big brains, that know this kind of stuff. No one had an answer for me.

CAROL: Okay. So I think -- I'll wrap it in a bow first, and then I'll walk it back. But I think this is the short-term trader mindset, versus people who have a long-term view on the world. So this is short-termism, versus long-termism.

GLENN: Uh-huh.

CAROL: So the first thing that we have to understand, the thing I did was went, oh, my gosh, all this gold is flowing east. Or where is it coming from? Is our central bank that dumb, that they're selling gold?

So I pulled a chart of central banks. And central banks have been net buyers of gold, for most of the year, since April. Which is the same time period of the chart.

That's April to August. They have pretty much everybody is a purchaser of gold. There's almost --

GLENN: Including us?

CAROL: Just a tiny little bit -- every central bank in the world. Which means, even if we're not purchasing it. We're not selling any. There's almost no net sales. So that means our central bank is not the one selling this. We'll take that off the table.

GLENN: Here's what I couldn't figure out either. Is the Treasury the same as the central bank? Does the Central Bank have all of the Treasury's gold?

What --

CAROL: So they're probably not.

But let me walk through where I think this is coming from.

GLENN: All right.

CAROL: So the second piece I went to, was the consumer market. And consumers, seeing what's going on with inflation.

Understanding that a recession is here, and that it's going to get worse next year, have also been buying.

And by the way, we can't supply them. So both here in the US, as well, particularly in the east, much more in the east. There's been an additional premium.

And I'm going, what's going on here. What you have to understand about the market for gold, is that the prices for the gold, when you call Goldline, to buy your gold, like you and I do, Glenn. You're buying physical gold, but that price isn't being set by the supply and demand of you and I buying it.

It's being set by these future markets. By these traders, who are trading contracts.

And all of these derivative products, the options, the futures, they are so much larger than the underlying product.

And, yes, if this sounds like a familiar story. It is one. But the research estimates put the sides of these futures market, at 200 to $300 trillion of value being traded. With the underlying supply of goodly. The underlying supply of gold, underlying supply of gold is like 11 to $12 trillion.

GLENN: This is why I say all the time. Don't buy paper gold. Don't do it.

Don't do it. It will be worthless in the end.

CAROL: Exactly. So let me tell you what's happening. These traders are looking at not just what's happening in the physical supply demand. They're looking at little blips on their screen. And they're saying, oh, well, historically, when we have a strong dollar, that means that's not good for gold. So we should probably get out of it, as the fed tightens their monetary policy.

They have gotten to the point, where these crazy traders are actually not short on gold. Meaning that they have sold more than they have. And this is only the third time since 2014 that this has happened. This happened in 2015. It happened in 2018. And what my researchers have told me is both of those times, as you can imagine, when you have all of these shorts out there, but this crazy macro economic environment. It's prime for a short squeeze. And that's set major floors, and there's been huge rallies involved.

So once again, we have the financialization of a product. A product that is very important to us.

You know, being bastardized by Wall Street. And what happens, in China. And India. And other parts of Asia. Is that they're smart. They go, well, the price is falling. We should load up on it.

Buy low. Sell high. So they actually create a floor for the price of gold. Because they know they can get it at cheaper prices than it's actually worth. So they go in, and they load up on it.

And that's the tenor of what's been happening here, which is just complete insanity. So my speculation, is that institutional investor's gold, that is flowing because these traders are doing the same thing that the traders always do. They're being short-termed, grubby, greedy, and not looking at the bigger macro environments.

GLENN: That means, then we are doing that. We as a nation are -- we're going to be the opposite of the big short. Right?

We're selling, when we should be buying.

CAROL: So the good news is, our central bank. Our country has -- and, again, if this is true. Right?

So I'm just going to report what's being reported. I did not go to Fort Knox and verify, that the gold is actually there.

But we actually have the most gold in the world per -- by a country.

GLENN: I do not know if I actually believe that, but they say -- they say that's 85, or 84.

CAROL: 8100 tons. Tons. Yes.

GLENN: Tons. How much is that worth?

CAROL: I knew that you would ask me that question, and it was Monday, and my calculator wasn't big enough.

GLENN: Try it.

CAROL: It's a lot. A lot.

GLENN: I looked at it, and it's in the two or three digit trillions.

STU: Give me the number one more time.

CAROL: 8100 tons of gold.

GLENN: Which is about 32,000 ounces per ton?

STU: Thirty-two thousand ounces per ton?

GLENN: Yeah. And gold is trading at about $17 an ounce.

So how much is -- if they say we have this -- to me it makes no sense.

STU: 1700 an ounce, you said?

It's a big number. Let's --

GLENN: Yeah. Go ahead. Try to figure it out.

STU: Yeah, I know. Here we go.

CAROL: This is a lot for a Monday, guys.

STU: $440 billion dollars plus.

GLENN: No, no, no. Billion. It's higher than that. It has to be trillion.

STU: I'm going by your numbers here.

GLENN: 32,000 ounces, times eight.

STU: Thirty-two thousand times 8100, times 1700. So I'll do it again. 8100 times 32,000 times 1700, is, let's see. Yeah, 440 billion.

GLENN: No.

STU: So, again, I think maybe you're -- are you sure about that number of 32,000 ounces? I don't know --

CAROL: I will look that up.

STU: Too low.

GLENN: Look it up. Yeah, that's way too low.

It's got to be in the trillions. It's got to be in the trillions.

CAROL: It's probably somewhere I would say between 440 billion and a trillion dollars.

Again, like you said, it's just the central bank piece of it.

At any rate, the U.S. has more than any other individual country. The Eurozone, as a group, actually has more than the US.

And on a sort of tons to GDP, you know, value standpoint. You know, we are -- you know, we're not quite at our GDP, but we're in sort of a good position.

The only ones that are really stacking up via their GDP, is the Eurozone and Russia. And now China is starting to continue to add to that.

So, you know, it's a very strange situation. And it's also a strange situation, Glenn. If you think about the fact that the traders are doing this, based on, quote, unquote, dollar strength. Because they're looking at the dollar strength versus other currencies.

But they're not looking at the dollar's lack of strength at home. The dollar is not strong when you go to buy your groceries, or you go to pay your rent, or you go to heat your house.

And so that is the challenge. That is what we are. When we go and we buy physical gold, that's one of the things we're continuing to protect against. The continual debasement in the value of the dollar. So there really is a setup here. Potentially for, you know, some sort of a squeeze. Or even the collapse of some point of the paper gold market. Which means, eventually, things would change, to going off the actual spot price, of supply and demand. Which is how this should be based to start.

GLENN: Okay. So I should not be worried that Bloomberg's headline is, gold's great migration, sends bullion rushing east.

CAROL: No. I think you should be worried. And I think the reason why you should be worried is the people in Asia are taking a long-term view. And the people in the West are not. And that is going to come back to bite us. And by the way, usually this ends up flowing back. When the price goes high, in the past, it has flowed back. Because, you know, of course, we'll buy it at the higher price --

GLENN: Which is so stupid.

CAROL: Which makes no sense.

But the people I'm talking to, who really know this stuff, say not this time. We're in a new financial world order, something is going to shift here, and so don't expect that flow to come back the other way.

GLENN: Wow. One last thing, Carol. I appreciate your work on this.

Because I couldn't -- I couldn't make heads or tails of this, and our gold situation is so not transparent in America.

CAROL: It's a travesty. It really is. Something needs to change with this market, it does.

GLENN: It is. The other question is, we just sent the 101st Airborne, over to support NATO.

The Pentagon said, this weekend, we're ready to go to war if we have to go to war with Russia and Ukraine. What does war mean to our economy, if -- if it starts, with Russia?

CAROL: I mean, you know, there's obviously a bunch of layers of scenarios, depending on how bad it is. Certainly, the defense sector will be doing very well.

And it's just a question, of how much is this being fought over there? How much of what we're doing ends up being disrupted? Or does it end up being something that looks more like the recent wars that we've had in Afghanistan. And the like.

So I just it really depends on the scope. But, certainly, if we get into a big escalation here. And this becomes something that is like a world war, a true world war. I think we can all pretty much not take a pretty big leap of faith. To guess, that that is not going to be a good sign for our economy, particularly at a time when the economy is breaking down, and the Federal Reserve has been taking steps to damage the economy to do that, quote, unquote, demand destruction. To create higher unemployment. All of those things. You know, not that there's ever a good time for a war. But it will just exacerbate those issues.

GLENN: Okay. I would love for you to look into something else. Right now, Biden is saying, the G.O.P. will collapse the economy. What he's saying, they will shut down the government. That's a lie. You can shut the government down.

Pay your bills. And not go defunct. Can you not?

CAROL: I would love them -- when they shut down the government, they can't spend any money. He's basically setting this up. He knows the Republicans have a strong chance here. And he knows the economy is going into a worst condition. He's basically setting up the blame for the things he has been created. He's already pinned it on things that will happen.

GLENN: Right. I would like you to look at, how the government actually pays its bills. And you don't go into default if you're a nation, if you shut down. There are ways to do it, so you don't go into default. So we can stop this madness.

CAROL: And we can bust this. I have this great deficit myth, when you have a $1.4 trillion deficit on 40 percent more spending. Would love to chat about that with you.

GLENN: Okay. Good. Thank you very much. Carol, we'll have you on maybe later on this week.

We'll cover both of those things. That's Carol Roth. You can follow Carol, @CarolRoth. CarolRoth.com/Glenn is where you will be taken to her page, where you can find all the information she does with us. CarolRoth.com/Glenn.

WARNING: The Sinister Plan to SABOTAGE Trump’s Deportations | Tom Homan | Glenn TV | Ep 433

The Trump resistance is expanding outward from the courts to the streets as Democrats have decided to make their latest phony stance all about ICE and deportations. In this episode, Glenn Beck breaks down the Left’s latest coordinated push to destabilize America. When Democrats lose elections, their strategy apparently isn’t to win back voters — it’s to storm ICE facilities, defend criminal illegal immigrants, and accuse law enforcement of brutality. While they champion open borders and compare themselves to Civil Rights heroes, they lose their minds over 59 white South Africans being admitted as refugees. It’s all about ideology, not compassion. Glenn outlines how the Left’s obsession with race and Marxist ideology, combined with the planning sessions of Democratic governors, is setting the stage for the Left’s next mass street action. Are we headed for another 2020-like summer of “mostly peaceful” riots? White House border czar Tom Homan joins “Glenn TV” to address dangerous rhetoric from Democrat leaders like Rep. Swalwell (Calif.) and Gov. Walz (Minn.), the debate over due process in deportations, the success of the administration's self-deportation program, and the case of the Brazilian American accidentally detained by ICE.

Democrats in denial: The truth about genocide in South Africa

President Donald Trump presented evidence of genocide against white Boer farmers in South Africa during an Oval Office meeting with the country’s president. But yet, many Democrats and their allies in the Legacy Media are denying it’s a “real” genocide. Glenn Beck destroys this narrative and explains the second problem South Africa is having that’s just as dangerous.

Transcript

Below is a rush transcript that may contain errors

GLENN: Here's a bit of a Prager University video on South Africa.

VOICE: White South African farmers are being hunted from their land by black gangs. Facts. And I had a young son at the time, and he would sometimes have nightmares when the monsters would come at nighttime. But in South Africa, that is when the gangs come. And they work together, and they attack white farmers.

And some of the things that happened to white farmers, we don't talk about here. But the barbarity, it isn't just about burglary, which gets filed away as, this is torture. And the numbers of white farmers being killed is incredible. And because South Africans have expropriation without compensation, which basically means, we're taking your land. So I went and slept on the farms to feel the fear white people are -- are denied treatment, in hospitals, in South Africa.

It's an extreme situation that nobody --

GLENN: I'd like to get her on. This is a really bad situation. The reason why I want to play that for you, is because I believe there is genocide going on. But not to the numbers perhaps of what people think of genocide.

You know, CNN was like, there's only 1800 or 2000 white farmers that have been killed in the last few years.

I was like, oh, that's it. Okay. Okay.

At least we know what genocide is not.

Apparently, a couple thousand.

Genocide is a frame of mind.

You genocidal maniac. It's a frame of mind, that I will kill all of these people. For whatever reason.

These group of people. I think they should all die.

And if you take steps to do that, that's genocide.

You are trying to enact or help others enact genocide. Okay?

We'll get back to South Africa, and the -- what I believe is the genocide, just not the way you frame it.

6 million Jews. It's not that. But it is -- it's anti-racism. That's what it is.

You can't just not be a racist. You have to be an antiracist.

You have to hate the oppressor.

You have to do whatever you have to do. Because the oppressor is the evil one. And has to be stopped.

This is what's happening over in -- this is what's happening over in South Africa.

And it is a Marxist, racist ideology.

And it is destroying South Africa.

You know, you look at the 2000 white farmers. And I don't know if that number is entirely accurate.

But around 2,000 white farmers that have been killed.

Okay. That's a lot.

But they had 27 thousand murderers in that -- in that country.

Now, they're a country of 60,000. 65,000.

We're a nation of 350 million.

And we had 19,000 murders. Okay?

So think of the fear. That's a country completely out of control. And some of those were passions, and crimes of passion.

They were crimes of -- of burglary, perhaps. They were crimes just senseless, killing.

And some of them were genocide. Okay?

You don't dismiss genocide. And you don't dismiss a system that is producing 27,000 murders on average, every single year.

This is what happens. When a government starts to adopt all of the things that the left wants to us adopt. The antiracist point of view.

The let's not punish criminals. Socialist Marxist ideals.

Look at South Africa. That's what they want here. Now, they might say they don't. But, you know, they even say, you know.

I'm going to -- I'm going to put a bunch of bacon into my oven.

Because puppy dogs are going to pop out.

But you can believe whatever you want.

You can say whatever you want. But that's not going to happen. And I want you to look at the pattern here in America. Okay?

What are these -- they are -- the left now is defending murderers. Gang members.

Why? Because America is oppressive. They would rather have those guys returned safely, so they can -- I don't know. Go through trial. Or live here happily. Or I don't know.

They would rather have sanctuary cities that protect those people, than you!

How does -- that's not a winning strategy, for the next campaign.

It's just not. You know, going in and beating on police. I mean, just watch the video. You can say whatever you want about McIver. If you watch the video, you can see exactly what's going on. Okay?

She was assaulting police officers. And then she was trying to play victim. Because remember, that's what you do on the left. You make the other person the oppressor, and you the oppressed. So you get all the sympathy. And it's insane. And it's happening over and over and over again. Yet, the two Jews, last night, gunned down in the streets of Washington. Who were they? Pro-Hamas, Marxist communists. Okay.

You have something else going on. You also have the investigation into who is covering up for Joe Biden?

The auto-pen. Today, the news is, we have a -- listen to this.

A high, quote, high, high level democratic operative, that was involved in the campaign.

And involved with the White House.

That has come out now, as a confidential whistle-blower. To identify the three people that were not only guarding all of the secrets and keeping people away from the president.

Which was bad enough.

But this whistle-blower was now saying, they were making money on the signature machine.
The auto-pen.

Excuse me? You have a whistle-blower saying that. It will be turned over to the DOJ soon.

You will see these people tried. And hopefully, go to jail, if that evidence is true.

Today, you also have a story about the government knew, we now have a new report that is out. After an investigation.

That the government knew about the vaccine side effects. And the injuries that could happen, and they actively covered it up. You will see people, I think within the next two weeks.

You will see people marched in handcuffs because of that. The cover-up on the COVID.

You will see people marching in handcuffs, because of what happened to the White House. And that cover-up with the auto-pen.

You already saw McIver marching in handcuffs.

So there's two forces. This is what I want to tell you. There are two forces. One the United States government. Which is now the Justice Department. And the FBI.

Seemed to be moving in exactly the right direction.

You have ICE moving in the right direction.

And they are starting to enforce the law.

So what's that going to do to the other side?

The other side, these are Marxists, communists, antiracists. Radical revolutionaries.

Make no mistake. This is not your Democrat that you've known for years. That lives next door. These are radical revolutionary Marxists.

Communists.

Pro-Sharia law people. They do not want to live side by side with their neighbor. They do not want the American justice to be restored. They're looking for an entirely different justice. The kind of justice that you're now finding in South Africa.

And I'm sorry. But I'm not going to -- not on my watch.

Not on my watch. I don't think you're going to stand for it either.

But they're going to cause violence. What we have to do, is in every way possible, support the institutions that are moving in the right direction. Nobody is perfect. Nothing is perfect.

And I don't trust any of them -- the institutions right now. And I think George Washington would applaud me for that.

But that doesn't mean I want them all to go into a fiery furnace.

We have to have institutions, that we can trust. Or we have no civilization.

You know, Jonah Goldberg, you're pathetic. You're absolutely pathetic. He wrote something yesterday, about how me and Alex Jones are just, you know, all populist. And we're going to -- we're going to make sure that nobody believes in any institution.

That is exactly the opposite of what I am saying.

But we're -- we're under attack.

Voices like mine, saying this.

I'm under attack. Because people must have division.

I'm saying, do everything you can, to stop dividing.

Do everything you can. You've got to call, you've got to call a spade a spade.

You've got to say, that is evil. That is good. That is black. That is white.

You're a man. That's a woman.

You have to do that. But they're going to start get more and more violent in the next two or three years. Maybe it happens faster.

And they're going to use everything they can.

And they're going to also, they'll get into bed with anything that they can.

Do you know that the -- the push, for, you know, people standing up and, you know, protesting for these illegals, that are being -- do you know that China is funding a lot of that?

We just found that out today.

You think they have a pro-American. Pro-freedom agenda.

Had to. But these organizations don't care. They will take that money.

They don't care!

So we have to know who we are.

What we believe.

We have to know our Constitution.

We have to teach it to our family.

We have to stay calm. Be leaders. And you're only leaders if you're well informed.

Again, anybody who gets their news off of social media. The person who reads nothing, has a better education, than the people who only read social media.

Do not get your news from social media. You can get a dip. You can say, oh, wow. But then go in and investigate it.

Don't go in with the headlines.

Don't understand believe social media.

And as we saw yesterday. All the people who were saying, this is a conspiracy theory, about the whites and the farmers in South Africa.

They're all the same people that told you, there's nothing wrong Joe Biden.

So you have to decide what side you're on.

And what I know side you're on.

And, you know, somebody came to me, the other day. And they talked to me about you.

And they said, your audience -- and they know. Because they deal with audiences all over the country.

And they said, your audience is different than any other audience in America.

And I said, I know.

But how do you see it?

And they said -- they described it, exactly like I do.

You're the most honest, decent, kind, loving, true American that is not out for vengeance. But out for the American values!

You're the most polite. You still say please, thank you.

You still hold doors open for people.

You clean up after yourselves. You will have a big event in a park or something.

And you will clean up after yourself.

There is no group of people, I think, that's been assembled for broadcast, that is like this. And I -- I am honored to serve you, every day. Truly honored to serve you every day.

Things are going to get much, much better.

But it's going to be a hard slog, because I don't think the left is done. Because they're not -- they're not doing anything here that would lead to reelection.

They're not uniting with the average American. With these kinds of things. So what are they planning?

I think what all Marxists, antiracists, communists, and revolutionaries plan for every time.
Street action.

Whoopi’s outrageous question: Why Biden’s health scandal can’t be ignored

Whoopi Goldberg recently asked on “The View” why is it “important to know now” about President Biden’s cognitive and health declines while in office. Glenn Beck gives a fiery response, making the case that the American people MUST be told the truth.

Transcript

Below is a rush transcript that may contain errors

GLENN: If I suspect does Donald Trump was incompetent. Or somebody else was running things.

Or we were being lied to in any way, shape, or form. I would be on the air, today. Telling you that.

And every journalist, worth their salt.

No, every American has that responsibility!

No matter what the cost. No matter that it's going to mean that Kamala Harris is in.

Nope, sorry.

You -- I believe in the American people. More than I believe in me. And certainly, more than I do some group of people, whose whole existence is to get a politician elected.

If the truth doesn't matter on this, then neither does your vote.

And if that is true, we do not have a republic at all.

We have something else.

He doesn't know it is. But something we were never, ever meant to be.

That is why all of this matters.

I mean, here's Whoopi, yesterday, on the View.

VOICE: So should anonymous sources, who talked to Tapper and spoke up about their concerns, while he was still in office. And my other question is: Why is this important to know now?

VOICE: Yeah.

STU: Yeah!

VOICE: It's insane.

You know, we've got a lot of stuff to be concerned about, at the moment.

GLENN: Okay. Stop. Stop. Stop.

You're in the hospital. You just found out that several patients were left to die by a certain doctor, but you don't know which doctor.

You're now in the hospital with the same thing that they have. And you -- you say, could I get the name of that doctor, that -- and they say, no. That's not important.

That is about them. They are already dead. Don't worry about it.

You would get out of that hospital!

Okay?

That's the situation.

You don't know who did what! You certainly cannot be treated or healed, when you have no idea, who was hiding the death of those patients and protecting, what? An incompetent doctor. No, thank you!

No. That hospital is not for me!

GLENN: So there's a -- there's a couple of things that all tie into what we were just talking about, with -- with Whoopi Goldberg saying, what difference does it make?

Now, why do we need to know who was running the White House?

Why? I mean, it's so insane. It's honestly like saying, all right! So the bank was robbed.

They got their money back through insurance policy. Everybody is made whole. Why does this matter?

Why are we still going after these bank robbers? Are you crazy? I mean, the logic just does not work anymore. For a lot of people.

Because ends justify the means. You cannot take the position that Whoopi Goldberg is held for so long, with -- and then say, wow.

You know, we should go after those people. We should look into that. Because that's a danger to the republic. And once you say that. Then you're like, wait a minute. I've been saying that Donald Trump was a danger to the republic. I denied all of this. What did I really believe now?

What side am I really on? What -- I don't have to like Donald Trump. But I do have to recognize my errors, and most people just can't do that.

And it is really sad. But that is what makes people leader. And then also makes people either leaders for the dark side. Or they just destroy themselves. Because the truth does matter.

And if you don't reconcile that in you. There's no way you can connect into the flow of life, for those of you listening in California.

There's a couple of things on this. Here's why it matters: Is anybody above the law?

We know that's against the law. And it matters, when it's happening. And after it's happening.

Okay?

You have a couple of people. You have the New York mayor.

Was arrested. For protest and charged with trespassing. By the US attorney for the district of New Jersey.

And she also arrested McIver. Who could be against MacGyver? Not that MacGyver. Congresswoman McIver. Now, it's on tape. They're seen pushing through guards, ICE guards.

This is not -- they were part of a protest, and they used that protest to storm the gates, to get past the guards.

That's not -- that's not doing your Constitutional duty. That's not. So why are we persecuting?

Because if you want to -- if you want to assemble peacefully in protest, I'm all for you.

I can despise what you're protesting for. But I'll stand with you.

Okay? Because you have that right to do it.

But you don't have the right to whip up a mob, and storm the gates.

You don't. That's where you're -- you're -- your constitutional rights stop right at that door.

Does it matter?

Yes. If we would have put people behind bars, who were looting Macy's. And burning cities down.

And we would have concentrated on the people, who actually believed that there was a problem with the police.

And wanted a real solution, if we would have listened to those peaceful protesters. And put the other protesters behind bars, we wouldn't be sitting in this situation.

Once you ignore something, you teach bad people, or even people who are just frustrated with the system, oh, well, if they can do it. I can do it too.

I mean, as soon as we stopped enforcing the law because of BLM. What happened to crime?

Do you think crime going up all over the country is for no reason whatsoever?

No. We stopped enforcing the law. We stopped arresting people for small crimes.

You know, now you can steal up to a thousand dollars. Well, what do you think happened?

Everybody went, well, I didn't steal a thousand dollars. I will know exactly what I'm going to steal. And I will take those things, and I can walk out. No harm, no foul.

That's why you lost your CVS, in many stores -- or, in many states all across the country.

Because if you teach that, well, then, everybody will just capitalize on it. You have to teach the opposite.

Your actions matter to our society.
Now, yesterday, Jay Bhattacharya, hosted his first staff town hall meeting. Sorry, it was on Monday.

At the National Institute of Health. He's the NIH director. This is -- this is Fauci's old stomping ground. So he's holding a -- an open town hall. And he's taking questions. And he's answering questions. And there were 1200 submitted questions. He took the questions. Answered as many as he could.

It was on in public, and, you know, you could go there, and you could also watch it online.

And he said, if it's true that we sponsored research that caused the pandemic, then that's a different story. And if you look at the polls of the American people. That's what most people believe.

It is -- I'm quoting. It is possible, the pandemic was caused by research, conducted by human beings.

It is also possible that the NIH partially sponsored some of that research. Now, as soon as he said that, dozens of NIH officials got up and walked out of the room.

And his response was, it's nice to have free speech.

You're welcome, you guys. Free speech.

If it is true, that we sponsored research, that caused the pandemic, and if you look at the polls of the American people. That's what most people believe.

I've looked at the scientific evidence. And I believe it's true!

What we now have to do is make sure that we do not engage in research, that is posing any risk to human populations. They got up. Even though, the CIA, everybody.

Everybody is now coming to the conclusion, this was cooked up in the lab. Okay?

EcoHealth looks like it was involved.

EcoHealth was a recipient of cash from the NIH.

We know that Fauci covered things up, and was in bed with EcoHealth.

We know all of that stuff, right?

We know it! Is it -- do we have absolute truth?

No. But we have -- we have -- beyond -- I believe, beyond reasonable doubt.

Okay. But still, let's pursue that.

Let's find out.

I predict that you will start seeing arrests, on COVID.

You're going to start seeing arrests of people that covered up. That is essential.

Why?

Because you just hate science?

Why?

Because you're just for Donald Trump, and anybody who was against Donald Trump should go to jail?

No!

Listen to what he said. If it's true, we sponsored research that caused the pandemic. And I've looked at the scientific evidence, and I believe it is.

Notice he said, I believe. He didn't say, it is.

He said, I believe it is.

If it's true, what we have to do is make sure that we do not engage in research that's posing any risk to human populations.

That's why it matters! That's why this matters!

Because if you don't admit it, if you don't track down, how did this happen? You cannot prevent it from happening again. You can't save the republic by ignoring that the president wasn't in control of his faculties, or the government!

You can't ignore that, and save the republic!

You can't ignore the truth, that the NIH, most likely, but you don't move until you know, that they were involved in a cover-up, because they were funding things they weren't supposed to be funding.

But Fauci was so arrogant, that he thought it was okay for him to do.

You can't predict -- you can't prevent the next pandemic, if you don't fix what was -- was causing this pandemic. That's why it matters, Whoopi.

They're going after Andrew Cuomo now, over the nursing home deaths. Okay?

DOJ is opening up an investigation on that. Whether he goes to jail or not, Stu. I know he has an opinion on this.

Weather he goes to jail or not. Whether he's guilty of it, or not.

Has to be proven in a court of law. I have seen the evidence. We've talked about it before. To me, it looks very -- it looks beyond a reasonable doubt, to me.

But this is in the court of law.

It needs to be investigated. It needs to be tried, in open and fair court. And if he's guilty, he needs to go to jail. Why?

Why would you do that? Because you hate the Cuomos?

No, because I love people more!

And I don't people to be able to be killed in a nursing home, because they're expendable. They're old. It doesn't matter anyway.

I don't want that happening!

And you can't solve that, unless you put the people behind bars that encouraged that! Because they'll just do it again. And if they don't, somebody else will do it.

This is why yesterday Trump just unloaded.

On the New Jersey Democrat charged with, you know, storming the gates at ICE.

Give me a break. Did you see her? She was out of control, he said. Out of control.

She assaulted a federal agent outside a New Jersey ICE facility. The days of that crap are over. In this country.

We are going to have law and order.

That's all I want. I don't want vengeance.

I don't want anything done in anger.

I want the system to work. I want law, for all people, to be equal. And I want order. We do it the right way.

That's why he was asking for.

Why does it matter? Because you can't -- you can't have it, if you don't enforce it now.

This, by the way, is the reason why his approval ratings are surging. Did you see he's up again in the polls?

All of these things are connected.

All of our problems, I would say, I shouldn't say all of our problems.

Most of our problems are caused in our country, politically. Because we no longer care about the Constitution.

We don't even know what it is.

And I'm not talking about the politicians. They give lip service to that. They don't know it.

They don't care. It never comes up in conversation. I know. I've talked to senators.

I've talked to representatives, on both sides of the aisle.

They never talk about the Constitution when they're putting anything together. They don't care!

Okay? They think they know better.

Rules are different now.

But they're not. So there's two reasons, why we're in the situation, we're in. One, three.

One, nobody notices the Constitution. Nobody is following it.

Two, nobody is listening to the sage advice of three presidents.

One, George Washington.

What was his farewell address about?

Don't get involved in these parties. These parties will kill you. They will figure it out. Don't overspend. Don't get involved in everybody else's affairs overseas. Be a friend to everybody. Now, if they attack you. We have to be strong.

But we're not involved in anybody else's business. Stay out of that business. Don't run up debt.

Well, they're -- all you have to do is listen to that guy. That one. Then we don't listen to Eisenhower, who said, okay. We have to do things now, to have a strong defense. So we will have a standing army now.

And because defense is now about nuclear weapons, we are going to have to have science, which means we will have to have education.

And so the money to education, to universities, to science. And to the military, has to be guarded by the American people.

Because the universities will train everybody to give what the government wants.

They won't be pursuing science anymore for science.

They will give it, what the government wants. So you will get the answers, the government wants.

Science will do the same thing. And the military will also start to promote foreign wars and wars of all kind. Because they want to sell weapons.
Warning. Do we listen to him?

No. No. Educational, scientific, and defense. All of them.

Sold out. And we don't really have any control. And the -- the last one, is Ronald Reagan.

Who said, within this generation. If we don't teach now, this is 1988. If we don't teach them now, the next generation will not be able to defend this country. Because they won't know our history. History is being lost.

It must be restored in schools and in our homes.

If we would have just listened to those three, and known the Constitution. We would not be any of these situations we are in now.

What do you say?

Let's listen to those three guys. Repair that. And learn the Constitution. That's what you can do as a citizen.

This tax could WIPE OUT your wealth before you know it

An insane leftist policy that has DESTROYED nations could be coming to YOUR state, Glenn Beck warns. Glenn dives into how unrealized gains taxes work and why they’re devastating. Australia is now installing them. Will a state like California be next?

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. I want to tell you a story here: And it's not just a story. It is actually now happening. In Australia. And it could be coming to a state and a government near you, soon. So let me tell you a story. Let's just call him David. David is not a billionaire. He doesn't have a private jet. He doesn't sip rare wine, you know, or hedge currencies in the caymans, okay?

He's a builder. Literally. He bought some land, let's say, 25 years ago on the edge of town.

No one had ever heard of this town, let alone this area. He poured some concrete. He raised walls. He rented the space to small businesses. And over time, that dusty little outskirt, became a thriving community. He kept the land.

The equity grew.

But he never sold anything.

He just reinvested. He repaired. He paid property taxes. Maybe he developed houses on some of that land. He hired help. Well, today on paper, tasted is worth now $3 million. In real estate assets alone. Okay?

Is that guy a fat cat that's calling the shots that needs to pay their fair share? Or have they already paid their fair share. Because they're just like you. They started with had to go. They worked hard. They invested.

And now they have assets. It's not expendable.

But he's worth $300 million in real estate. Okay. Now, let me tell you the part of the story that goes a little dark. It's called unrealized gains tax. That paper value becomes a real rob.

Because the state now wants to tax him. Not on the money he's made.

They've already done that. But on the theoretical increase in the value of his properties.

Now, he hasn't sold them. He doesn't want to sell them.

But they're going to tax him. Because he's made a profit. But he hasn't. Because he hasn't sold them. It's all on paper, but he has to pay taxes on that profit that is unrealized, he doesn't have. And if his property values plummet the next day, they don't give him the money back.

He just doesn't have to pay any more taxes, because the value has gone down, so he doesn't have to worry about that.

This is not a hypothetical. This is what is happening in Australia right now. A 15 percent tax on unrealized capital gains, for accounts, exceeding $3 million. Okay.

Is there anybody in this audience, that has put money into Bitcoin? And you put maybe a thousand dollars into it, because you're not rich. You put a thousand dollars into it. You put $5,000 into it.
But you really, I mean, it was scary to put that money in.

And you left it alone.

And now, maybe you're approaching $3 million. Now, they're going to tax you when they take that money out, but this is in addition to that! They are going to tax you on the gains!

Not when you take it out. They're going to take you on the gains, that you haven't taken. So if it goes up to 109. And now, all of a sudden, you're in Australia. And that account is now worth $3 million. Guess what!

You now have to pay income tax on that account. So you have to -- what would you do?

What would you do? You just go to your magic money printing machine, that the government would do.

Or do you have to sell something? Maybe the property. Maybe some of the Bitcoin.

And then you never get that money back. If it goes back down, which it will -- if it goes back down, they won't pay you.

Wait a minute, I paid it -- $109,000, and now it's worth 80. Do I get any of my money back? Because I just lost money? No. Uh-uh. No.

Imagine those who lived in California. Who maybe their parents bought a house. And it was $5,000 in 1960.

They still have the house. They can barely afford the taxes on it now, to keep it.

Because it might be worth $3 million, it might be worth $5 million. But it was $5,000 when her parents bought it. And they haven't gone up in their status. They're not hobnobbing it with Bill Gates. They're just regular people, who happened to get on a house from their parents. And they did well with it.

And it's the only asset they really have. But it's worth over $3 million.

Now, how will they pay that tax?
Because now, if it's $4 million.

I got to pay taxes on that. I have to pay 15 percent on that million dollars. Excuse me? I don't have that money! Well, all you have to do is sell your house. Now, let's just follow this logic here.

Consider who wins. Now, who is going to have to really pay this tax?

Is it going to be the ultra wealthy, with the teams of tax attorneys and offshore accounts?

Because they have the means to navigate around the taxes. No, no, no, no. This is going to hit the self-made man.

That's who this is going to hit. The self-made individual. The entrepreneur. The farmer. The small business owner.

They have built their wealth through hard work and prudent investment.

They have -- they have value in that land, that maybe their grandparents bought, and were farmers before them.

And they decided, you know what, I will stay in farming.

And they struggle every day. But now their land is worth over $3 million can. So now they have to pay 15 percent tax on that. In addition. Wait a minute. Wait a minute. Wait a minute. What? And it's assessed every year?

What? So who sells that?

Or who keeps that? What do they do. They have to sell it. Most likely. The average person. Or the entrepreneur. The person that is not the billionaire.

They will have to sell some of those assets, to be able to afford keeping it. To afford just staying in line. And, you know, not going to jail, because you didn't pay your taxes, to the sheriff of Nottingham.

So now you have to sell, and you have to sell at a distressed price.

Who wins?

Who wins?

Because you're forced to sell at a loss, to cover the tax bill. Guess who is standing there, ready to rake in your property?

The billionaires?

The large corporations?

The Bill Gates of the world, that wants more farmland. Hey, it's going for a song.

I can get this now!

That's who wins in this.

It destroys anybody from trying to get ahead!

It destroys them!

It is immoral.

But that's what's happening in Australia. So watch Australia burn itself to the ground!

It's going to start happening. This thing goes into effect, I think in July.

You watch.

Let's see how this works out for Australia.

Now, meanwhile, we have our own problems here. In Washington State, the Democrats who claimed they were all for adding jobs and clean energy.

Have now blocked a nuclear manufacturing plant.

Okay. Good.

If, you know, you work, you strike, it doesn't matter.

Employees now are required to pay union members not to work, if they're on strike.

And governor Ferguson signed the largest tax increase into state law with the passage of the biannual budget. Which he said, we can't -- we can't afford this.

We have to make cuts. We have to compromise. No. He just went for taxes. I mean, the election is over. Let's just go for taxes.

So what happened?

Well, they are already ranked 45 out of 50 states for business climate.

I mean, would you go work?

Would you go set up a new place in Washington State?

Would you start a business? Would you bring your business to Washington State? I wouldn't. I would get the hell out of there. In fact, I'm telling you right now, if you're in Washington State, get the hell out.

Because once they run out of all of this money that they're taxing from people, what they're going to do is say, oh, you're moving? You can't transfer that money out. You will have to pay an exit tax. And that sounds crazy. But it's going to happen. They will trap you and your money in that state.

Because they're already on that path. They already said, if there's another pandemic, they just passed a law in Washington State that says, you will have no right to your own health care. They will tell you what you have to put in your body, what you have to do. How you have to live. All they need is a medical emergency. Don't think they learned anything from COVID, other than how to control people.

So they are -- they just passed House bill 2081. It increases the Business & Occupation. The B&O tax.

This is a tax that taxes you on the gross. Okay? Which is crazy. If you're in business. You don't get that money. I'm being tax odd the gross. Wait a minute. Wait a minute.

I've got things I've got to pay out of that. Tax me on what I take. No, no, no, no. Not good enough for Washington State. We will tax you on the gross.

So if you've got a business, even if your business makes a loss, because you've got bills you're paying, and it's costing you more, you're taxed on what you take in.

Not your net. So even if you lose money, you still have to pay a gross income tax.

Oh, that will work out well.

And the state has just said, it will just be passed on to the consumer. Oh, well, that's even better for the people in Washington!

They also have a new gross surcharge of .5 percent on taxpayers, with the taxable income, over 250 million, which will expire on December 31st, 2029.

Because they're just in this little place now. Don't worry. This -- all these taxes. They're going to stay like this. They're not going to get any worse.

And they will expire anyway. So don't worry about it.

Then they put a massive sales tax expansion on, adding sales tax for the first time for IT services, custom website development, custom software. Security services.

Advertising services. Now need to charge customers, sales tax on every transaction. They also vetoed the removal. The governor did, of the tax preferences for community banks. Let's not help the community panic. No. Let's -- let's help the Fed, and the banks that make up the Fed. You know, the big ones like Citi and all of those banks.

Let's help them put the little banks out.

Okay. Then there's a new gross tax on storage units of almost 2 percent. Let's see. What else?

They increased the capital gains on assets sold. Valued over a million dollars. From seven to 9 percent.

So you don't want to sell your home, better do it quickly. Larger estates, if you have something, $9 million, or up the tax rate now is going from 20 percent to 35 percent capital gains.

What has Washington done for you?

What has the state of Washington done that deserves that increase alone? I'm not talking about your property taxes.

Your state income taxes. But now they're going to take 35 percent of what you've made on your home.

Oh, okay.

Okay. Hmm. It's going to work out well for them.

Meanwhile, California, the Democrats there won't rule out new taxes to pay for health care, for undocumented immigrants.

What are you, crazy. Yes. The answer is yes.

Why do you think gold is going up in price? Why do you think Bitcoin is going up in price?

Why do you think that anything that is outside of this corrupt system is going up in price?

Because the whole world knows, this is not going to last. Now, let me take to you China. And show you what's happening in China, because they're having another problem in China, because they've been doing all these games for longer than we have.

And at which bigger scale. And it's not working there. So let me tell you what the people of China are now doing. Tell me this is not something that you could see happening all around the world.

GLENN: Okay. There's something new in China called rat people. Is it the hybrid of rats and people from the Wuhan lab?

Possibly, that could be coming too. But that is not what this is. These are people who have decided to leave the rat race. Because no matter how they work, they can't ever get ahead. And so they're saying, why would I work?

Why would I work?

They're called netizens. Rat people.

Netizens. Meaning, you're on the net. You're not really citizens. You're more just on the net. And so what are they doing? They're not socializing. They're not leaving their house. They're staying in their house.

Let me give you a blogger, who identifies as a rat person. She starts by explaining, she wakes up at 11:00 a.m. Pretends to be productive by ordering coffee and browsing her phone. Remember, China is watching your phone. At 2:00 p.m. she goes back to sleep. By 5:00 p.m. she gets up, uses the bathroom, collects the coffee delivery left on her doorstep. 6:00 p.m. she has her coffee while watching videos on her phone. 7:00 p.m. she checks her dinner options on her phone and orders takeout. 9:00 p.m. she has her first meal of the day.

One guy said, I have been a -- a rat man now, for five years. I don't socialize at all.

Hmm. This might be exactly what the World Economic Forum said would come. And they would have to, just keep these people entertained on the internet or drug them, because they will be useless eaters. Ah, that's always good. So what is happening? These are people, that basic Gen X-ers. That are like, you can't get ahead.

This is ridiculous! And so they've given up. They think, I don't want to work hard. Because it won't make any difference.

I'm getting out of the rat race. And rat people, the -- the act -- official Chinese language is that they're lying flat. And they say, they're just -- they're not going to do it. Because they can't buy. They can't buy a house.

They can't buy anything nice.

They can't buy anything.

Just, I'm giving up on all of that.

Because my life will always change. Now, China is pushing back on this. As you can imagine, the Chinese Communist Party doesn't like that, because you have a duty to the state to earn. You want to talk about useless eaters. Boy, watch what happens to these rat people. Youth day, which was May 4th. Oh, like May Day. Anyway, there was an article in the Communist Chinese people's daily.

And the -- president, President Xi told young adults, that they have to move to the countryside now, to work and support the party's version of modernization.

So you're going to move whether you like it or not.

And you'll be working. Whether you like it or not. And, you know, you owe it to the country, and to the party, to work.

So we'll make sure that you work.

Now, one person who spoke to the paper, here in America. That, you know, it's The Epic Times, that did not want to give their name. They said a whole generation of young people is babbling for limited opportunities.

Despite the fierce competition, hope is dwindling. That's why everybody chooses now to lie flat, become a rat person. Official data shows, unemployment rate for the 16 to 24-year-old age group in cities is 16.5 percent. But that doesn't include individuals who are enrolled in school, or who have stopped looking for work.

Now, listen to this part: Graduates are now securing positions within the local or state government and any public sector. Jobs are popular there, now, because they have security.

And they earned about $553 a month.

The government grows, as businesses die!