On today's show, Glenn Beck is joined by Judy Shelton, an expert on gold and what we should be doing with our money right now. Plus, why the Fed is ruining our economy and why we should all be worried about inflation.
00:01:29.660Every call that you make, every text you send, every dollar you spend is a vote for something you believe in.
00:01:35.520That's part of the idea behind Patriot Mobile.
00:01:37.540They're not just a cell company or a phone company.
00:01:39.380They're America's only Christian conservative wireless provider, and every portion of every dollar they earn goes to fund causes and organizations that match the beliefs of you, the people who support them.
00:01:51.240Things like the First Amendment freedoms, all five of them.
00:02:00.980Patriot Mobile is actively involved in defending those values, showing up, speaking out, and helping support communities that are fighting for the same principles that you care about.
00:02:12.360So when you switch your service and start paying your bill through Patriot Mobile, you're getting not just reliable coverage and U.S.-based support, you're supporting freedom.
00:05:14.040I'd like the president to come on and say, my fellow Americans and to our friends and neighbors in Canada, we bear no ill will towards Canada.
00:05:38.720Our families cross the same border every day in peace because for decades we have believed in the same principles, freedom, accountability, and the dignity of the individual.
00:05:50.000But our friendship does not erase reality.
00:05:52.880And we have reached a moment when reality demands real clarity.
00:06:00.200Let me just say this to Canada and for the rest of the world and for everybody listening to my voice right now.
00:06:51.760You want us to pay our fair share on tariffs and you want us to be your friend and pay for some of the things that you guys have been doing for us.
00:07:00.400We're going to either cry or we're going to run to China.
00:07:03.900If you align yourself with Chinese Communist Party members, allowing the Chinese state-linked firms into your telecoms, your 5G, your cloud, your ports, your power grids, your satellite, your space, your sensitive minerals refining and strategic infrastructure, your intelligence systems, any of that, then the nature of our alliance has got to change.
00:07:29.060And it has to change, not because we wanted to, but because the foundation of trust is gone.
00:07:37.420Trust, you know, any alliance, the foundation must be trust.
00:07:40.900And if that trust is gone, then it has consequences.
00:07:43.140So let's talk, frankly, Canada, what your choice means.
00:09:41.540Because the United States Navy said so.
00:09:44.860And it was our taxpayers that funded the shield that allowed you as our allies to invest a lot less in military might so you could be more prosperous.
00:12:20.260A country of 340 million people can adjust a little faster than a country of 40 million whose largest customer is us.
00:12:29.740The most important thing here to think about is security.
00:12:35.260Canada, if you choose to partner with an authoritarian power in critical technologies, especially telecommunications and infrastructure, then you can no longer participate fully in the shared defense system like NORAD.
00:13:41.720And Canada, you know, my father used to say, all right, before he disciplined me, that's going to hurt me more than it's going to hurt you.
00:15:45.340And we did it gladly to defend the free world.
00:15:50.180Do you even understand what that means?
00:15:53.680Hell, half of our nation doesn't even understand what that means anymore.
00:15:57.340It's worth defending and fighting for.
00:16:00.220And under that shield, nations, including our closest allies like you, have been able to prosper without having to carry the military weight.
00:17:22.000We just came off Valentine's Day, which is supposed to be about flowers and cards and nice dinners.
00:17:27.940But if you really think about it, love isn't proven by chocolate, although I could make a very good case for it.
00:17:32.280It's proven by what you do to protect the people who matter most when life doesn't go according to plan.
00:17:38.340This is one of the reasons I'm such a believer in Jace Medical.
00:17:42.180I started thinking about the people in my life, my family, my friends, and I asked myself, if something happens and they can't get help right away, have I done everything I can ahead of time?
00:17:51.200Have you ever asked this question yourself?
00:17:53.760The Jace case is a set of doctor-prescribed antibiotics, emergency medications that you order online, have shipped straight to your door.
00:18:01.640It's about being ready for the real world scenarios that we all hope never will happen.
00:18:52.320And just a few months later, the Berlin Wall falls.
00:18:55.700What did you see that everybody else was missing?
00:18:59.520You know, I'm kind of a green eye shade accountant by nature.
00:19:05.660And I think that when I took on what was meant to be a very scholarly and probably dull project as a postdoctoral fellow at the Hoover Institution at Stanford University, my goal was to study the impact of Western capital on the Soviet economy.
00:19:23.300Because it turned out, and you had to look at CIA statistics and some other statistics from government agencies to see this.
00:19:33.400But Western banks and Western governments were lending twice as much as any of them thought to the Soviet government, which was really bailing out Gorbachev and all of his programs and not causing the Soviet Union to reconcile with everything it spent on a war machine.
00:19:54.820So I looked at the Soviet financial statements, and I really analyzed their internal budget figures, and it became apparent that it wasn't adding up.
00:20:07.480They always showed they had a balanced budget, but in fact, they were running a huge budget deficit, and they were financing it by printing rubles.
00:20:16.540And so it was in analyzing and then recognizing that, that I was able to say, and it even surprised me at first, that this country was going bankrupt.
00:20:29.640So you did this in the 90s, right before, you know, the Asian crash.
00:20:36.420I mean, you have a way of being ahead of the curve.
00:21:44.120Well, I think that it shows that you don't have faith in the future viability of your country.
00:21:53.820To me, it's here we are about to celebrate this year, our 250th anniversary.
00:22:00.180And if you asked most Americans, do you think we will still be around, let alone standing tall in 50 years, in 2076, I don't know that you would hear a strong affirmation of yes.
00:22:14.780And I think everyone's aware, and we're dealing with the fallout of fiscal deficit spending every day with this dread we all feel from perpetual inflation.
00:22:26.880We're never able to catch up, no matter how much we're reassured that wage gains are helping to keep up.
00:22:38.520And the problem for me is until we establish a beachhead that we're willing to look this problem square in the face and demand honest government, which means an end to deficit spending, which I consider immoral.
00:22:56.040Because you're allowing people to consume today goods and services that haven't even been produced yet, which is robbing the next generation.
00:23:07.720And we just need to face this and say we believe in honest jobs, that is productive labor that results in genuine output, that increases real prosperity instead of just being told the GDP has gone up because maybe Wall Street is making out financially.
00:23:29.340And we can't have these government shutdowns, we have to have functional government and just say that we won't tolerate massive government at the expense of private sector growth.
00:23:44.000And then I think we need to guarantee honest money.
00:23:48.140So I have a very small proposal, which is just to begin to establish a link between what has long been the constitutional money of the United States, that is a dollar defined in terms of gold, as a special treasury offering for people who want that guarantee that they could convert a treasury security to gold redeemer.
00:24:14.000Mobility in the future, and I'm even suggesting 50 years from now, if you believe that our country will still be standing.
00:24:23.220I have to tell you, this is the only, you know, return to the gold standard idea that I have heard, and I'm going to explain it in great detail next, next hour, but it's the only thing that I have heard that actually would work.
00:24:37.780Everything else would be too disruptive.
00:24:40.380I mean, it would just cause so much pain, but this, this one allows it to, it allows us to go back to a gold standard.
00:24:48.040Cause we know we're going to have to pay it out in gold eventually.
00:24:50.940Um, and you know, if people stop believing, uh, and so it, it slowly forces us back into the gold standard, but I've heard so many people say bankers, et cetera, et cetera, say, Glenn, there's not enough gold on the earth to be able to pay for everything that we have now.
00:25:08.800Um, there's just not enough gold to do that.
00:25:12.480Well, and I think that's, that's very perceptive of you to see that when, when people say, oh, um, they're for a gold standard or, or say that I'm for a gold standard, they really don't define what they mean.
00:25:27.540Um, it's, it's, it's not a matter of the government having enough gold to cover even the paper money that's out there.
00:25:35.660Uh, the federal reserve has, has printed something like four and a half trillion in paper money.
00:25:40.760And about 70% of that circulates outside the United States.
00:25:45.480So our gold holdings, while they are the largest in the world, we have 261 million ounces and no other country even comes close.
00:25:54.520Um, they nevertheless, it might be worth a trillion three, but I'm really talking about is in some ways it's symbolic, you could say, but it's also quite real because it would be the first time for there to be an official link between the dollar and gold.
00:26:12.840Since President Nixon ended the Bretton Woods system, which was based on a, um, uh, gold convertible dollar and ended in August, 1971, it would be a way of saying for bondholders who, who are willing to lend money to the government.
00:26:32.720I mean, we know, as you said, our treasury markets, they need to be stable.
00:26:36.720They need to, they need to be popular.
00:26:39.320But if you had an instrument that said to people who, who are willing to lend money to our government, but who are maybe skeptical about losing purchasing power of the dollar over the duration of that bond.
00:26:55.880And it's a way of saying, you will have a choice at maturity of being paid out in the face value of the bond.
00:27:02.900That's a normal treasury security, or you can receive this much gold, a pre-established amount, and it is at your option.
00:27:13.780And, um, um, I think that is a way to, to say in a way we're putting our, our money where our mouth is, or you could say we're putting our gold where our money is.
00:27:24.420Um, we actually have, have the gold sitting there doing nothing.
00:27:29.480It's been doing nothing since 1971, although it is carried on the books of the treasury and on the books of the federal reserve at a value of being worth $11 billion.
00:27:42.500So we have a windfall profit right there.
00:27:47.060If we were to offer this treasury instrument and specifically warehouse the gold to serve as collateral, that would do two important things.
00:27:58.720One, it would reassure a lot of people who don't even think the gold exists at Fort Knox.
00:28:04.200I'm amazed that people don't even trust our government enough to believe it exists.
00:28:10.660But secondly, how do we know the next presidential administration isn't going to be even more spendthrift and someone gets the bright idea?
00:29:01.800Police now have identified the gunman who killed two people and critically injured three others at a high school hockey game in Rhode Island.
00:29:11.220Robert Dorgan, a transgender dad who railed against anti-trans hate in family legal disputes and deranged social media rants.
00:29:22.70056-year-old father who shot four family members and a family friend before turning the gun on himself following the deadly rampage at the Pawtucket ice rink.
00:29:32.560He used a female alias, but nobody was thinking he was a female except maybe him.
00:29:40.160Roberto Esposito, Pawtucket police chief Tina Goncalves says, uh, during a press conference Monday night, we've identified the person by birth name.
00:34:19.540Iowa High School shooter, trans activist.
00:34:21.420Charlie Kirk's assassin, Tyler Robinson, had a furry obsession and lived with transgender boyfriend.
00:34:29.560Trump's attempted assassin, Thomas Crooks, used the they, them pronouns, had a deep interest in furries, and was exploring gender identity.
00:34:38.500Do you think maybe we have a mental illness problem?
00:34:45.600Look, America, you want to kill yourself, kill yourself.