RADIOApril 12, 2024

What the Latest CPI Report & Soaring Gold Prices Mean for YOUR WALLET

The price of gold just hit a new all-time high and that’s NOT a good sign. Plus, the CPI report for March has released and it revealed that inflation rose faster than expected yet again. But of course, the Biden administration is bragging about how gas inflation allegedly went DOWN. Financial expert Carol Roth joins to explain what the gold and CPI news means for your wallet, as well as why the White House’s data is “trash.” Plus, she reveals a new way that small business owners can vent their frustrations to Congress.

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth, I know we have a lot to talk about. So just quickly, I woke up this morning.

Looking at gold prices.

And it was kind of -- kind of impressed, on how they're skyrocketing. And I remember, a conversation with the gold guy.

Who said, don't ever, ever look at gold and say, gee. I hope it goes up because of my portfolio.

And we were talking about $3,000 an ounce. And he says, do you realize how crazy the world has to be, for gold to be at $3,000 an ounce?

It's over 2400 right now. We're headed there quickly.

CAROL: Yeah. You remember a discussion that I and I had with a group of people, I believe, in November of last year. When people were saying a similar thing. When is gold going to break out? And you and I were both communicate the idea that gold is really a hedge against all kind of insanity. Things like inflation. Things like the crumbling standing of the dollar. Things like war.

And so when you see that gold continues to rise. Even in the face of things like rising yields on bonds. I mean, normally, there's a lot of push back there. We saw that as bond yields had gone up.

People were moving away from gold. Because you weren't getting that same interest rate. You know, gold does not produce an interest rate. So there is a different reason why we are looking at gold. And some of the things that we're talking about are a bit more structural. Perhaps gold is playing a bigger role in things like settling international commodities. Trades. And trading between countries.

Particularly, the BRICS nations. But, again, all of the things that are the signals, none of them are good for us here in the United States.

You have the signal as, oh, well, it's just because trade. Well, that's not good for the US dollars reserve currency. And that's not good for, you know, inflation over the long term and our purchasing power.

And so all of these things have a mechanism. And when you see so much interest in gold over the past few months. When it has been very steady for -- for a while.

That breakout is giving you additional information. And like you said, this particular case, I think that information is coming from lots of different places. And not one of them is good.

GLENN: Oh, yeah. One of them is, we're hitting the point where our -- our debt, the interest on our debt is going to be 1.6 trillion dollars a year. That's more than Social Security.

It's the biggest. It will be the top line on our budget now, is just the interest. Because we have an adjustable mortgage in America.

And the fed, I think is out of bullets.

CAROL: Yeah. I've been making this argument now for a couple of years. That the fed's monetary policy isn't effective. Because they are -- they're trying to control, demand, and so many of the issues that we've had are on the supply side.

Additionally, we've been headed. And I think we are in today, this period of fiscal to me unanimous. And as we've talked about before, that just means, that fiscal policy plays a bigger role in what is determining economic outcomes and monetary policy.

On its face, that is sort of neutral physical dominance. In our particular situation, it's very bad. It's because of the debt. It's because of the deficits. And it's because of the fact, that we have it these massive interest payments. And continuing deficits, that need to be financed and are creating this vicious loop.

And as we know, there are -- there is not a lot of ways to finance the debt.

There certainly are not a lot of buyers. And we say that this week. There was a Treasury option, for ten-year Treasury notes, that did horribly. It was rated a D by (inaudible) CNBC, who was very, very smart.

GLENN: Oh, my gosh.

CAROL: D, by the way, I don't know if you know this. Is right next to F. So that is a very bad position, to be in.

GLENN: We've always been AAA, haven't we?

I mean, for ten years.

CAROL: So there's a debt rating. And that's done by the rating agencies. These are the bond options.

This is when the Treasury goes out to the market. And says, you know, how is it that, you know -- how did we do?

How many buyers were there? Who were -- who wanted to buy our debts?

And so this happens on a regular basis. And, you know, people who watch this. They give those auctions a grade. To say, how did we do?

Were there a lot of buyers? Not a lot of buyers.

So this particular time, there were not a lot of buyers. And the banks and the security dealers. Had to stock up a lot of that debt.

It's pushing us to this path of monetization. Again, that we've been talking about. That means, we're buying our own debt. And that is inflationary.

So even if we're not getting things like rate cuts, that potentially could stoke inflation. You're going to get this monetization of debt, which is inflationary. Which is why I've been arguing that inflation is sticky. And it doesn't matter if the fed goes high or low.

It's getting us on either side, until the government gets its act together. They are driving the show. It is that fiscal dominance.

GLENN: Tell me about the Consumer Price Index.

And the wholesale index. The numbers don't make sense.

For instance, fuel is not an inflation -- isn't in inflation right now? Look at the price of fuel. What do they mean?

CAROL: So you know who loves the data coming out of the government right now, Glenn?

GLENN: The government.

CAROL: Oscar the Grouch. You know why? Because the data is trash. It's absolutely trash data.

Not only have we seen adjustments on a regular basis.

The scope of which, we have not seen in a long time.

The numbers always get adjusted. But we have not seen these massive adjustments, that we have been seeing.

We also have a phenomenon, where people and entities, who are responding to the surveys. Where they collect the data, don't want to do that anymore.

Either they don't want to be board.

They don't trust the government with their data. Whatever it is.

They don't want to give up their competitive advantage.

They're having fewer people respond to these surveys. Which means that there is more of this projection and biases in the survey. So that's why we saw, you know, the CPI, which is the Consumer Price Index. That's where they go out and they survey households, that came in, higher than expected.

We all expected that it would be an uptick. Because as you said, we know the price of oil and other commodities would be going up. So this was not a surprise to any of us who live in the real world.

So that was somewhat reflected in that data. And certainly, the -- the market had reacted to that, and said, oh, well, if that's the case. The fed can't cut. Then we have another measure of inflation.

Because they measure it in different ways. This is the producer price index. PPI. Which is the wholesale measure of inflation. This is what they're supposed to tell you what's coming. Because the inputs that go into your goods and services give you a sense of what is coming down the pike.

And this was the one that was the head scratcher. Because it was not -- there's a huge disconnect between these two measures always. But even a bigger disconnect. The one as you said, everybody is going, what's going on here? Related to energy.

So floating around on social media yesterday, there was a chart about the season 58 adjustments. Again, the manipulation of the data that they do. And if you look at that, it showed you that gasoline for the month, was down 3.6 percent. I think it was.

But if you did it --

GLENN: Yeah. 3.6.

So if you didn't seasonally adjusted. It would have been up 6.3 percent.

That's a really big swing. That's like a 10 percent swing, between the two of them.

So, again, Oscar the Grouch data here, certainly we're going to get another measure in a couple of weeks here. One called the PCE. The personal consumptions expenditures index. This is the fed's, quote, unquote, favored measure.

I don't know. Maybe they like the people who do it better. It's a little bit more broad. That's what they tend to make their policy decisions on.

But the media and everybody is focused on the CPI. So it makes it very difficult for them. Or at least adds another layer of difficulty. Because they will do whatever it is, that they want to do.

When that is going up, for them to say, well, inflation is under control.

We can go ahead, and start to cut interest rates. Which is why I think everybody needs to be paying attention, to their other tools.

Which relate to the balance sheet and debt. And what they're going to do there. Because that's just a different way for them to be cooperatively.

GLENN: They're not going to do anything. They're not going to be doing anything. I mean, he's not addressing inflation. Biden is spending more.

He's now, again, forgiving more at the time. Trying to get people into houses.

I mean, he is -- we're just giving away the store at this point.

LEE: They have -- we have been saying this since day one. They've been working in the opposite direction. If you wanted to help the fed get inflation under control at the government, you should have been working with them.

You should not have been running up leftists. You've been doing. Putting into place, policies that help supply issues, instead of hurting supply issues.

Every single thing this administration has done, has been a barrier, not only to you keeping your wealth and your purchasing power. But what it is, the fed has been doing.

And that's the fight that the fed has been having.

And I just think, at some point, they're going need to be real explicit. And say, we can't do anything. Until our partners get on the same page.

But, you know, everything is political.

GLENN: It doesn't happen. That's not going to happen.

CAROL: Yeah, not going to happen.

GLENN: When we come back, she actually has been invited to be somebody who testifies in front of Congress.

Carol Roth, in front of Congress, testifying as an expert, by the end of the month. On small businesses. And she's going to be talking about the FinCEN thing that's going on with LLCs and small businesses.

Where you have to register all this information, or you're a criminal.

CAROL: Yeah.

GLENN: And it's going to devastate small businesses. Small LLCs. And it affects so many people. She will be testifying.

But here's the good news. She wants to use information, that maybe you have.

To back up her testimony.

And we'll talk about that in 60 seconds.

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No. I think our banks are fine.

Everything is doing really well. Just a quick update. The AT&T Tower in St. Louis went for $3.55 million. That's a good, solid $2 a square foot. Sold for $3 million. It was sold for over 205 million, just about 15 years ago.

So no. There's nothing to see here. Nothing to see here. Carol, let's talk about small business.

CAROL: Yes.

GLENN: Take me through. In case people don't know what FinCEN is. Or what people are requiring them to do.

This is the criminal arm of the Treasury. And they're asking everybody who has an LLC or a small business to register.

CAROL: Yes. So this is called the CTA, BOI rule.

And basically, what it said, and this was passed by Congress.

Was vetoed by President Trump. And then they went back, and Congress overturned the veto, and gave this arm of the Treasury, which is charged with preventing financial crimes. Sort of free rein.

And they said, okay. We will create a database. And if you have any sort of entity, if you have an LLC, even a single member LLC, an S-Corp, a C-Corp, any sort of entity, and you're a business. You need to register with us. The financial crimes enforcement network. Because we want to prevent money laundering and cartels. And, of course, you know, I'm sure all of those people are going to self-report.

But they exempted.

GLENN: All the best cartels do.

CAROL: They all do. Well, we will do these things. We will make sure that FinCEN gets euro information.

They exempted all the big businesses. So this is unfairly targeting small businesses, so the updates. A few things that are what are happening. And we can certainly go more into this. I have been invited by the house. Small business committee, to be an expert, to testify and, you know, obviously testify against this. And how bad this is for small businesses.

And how unconstitutional at the end of the month.

What I am doing is I am bringing statements from small business owners. Because it's great to hear my statement. But if I can show up there, and say, I have hundred. Or 200 small businesses.

And here's what they have to say about this. And they're all outraged.

That holds a lot more weight.

So anyone who owns a small business. You support small business. Go to CarolRoth.com/CTA. That's CarolRoth.com, slash, Charlie Tango Alpha. And I made it really easy. I have given it a form letter, that if you want, you can borrow some of it. You can borrow all of it. You can borrow none of it, but I am going to show up at Congress with this staff from small business owners to say, you have heard what I have had to say.

Now, listen to what small business owners from across the nation, have to say, to try to get them to overturn this.

GLENN: Now, could I -- because today is not the day for me to write something. Because I'm in a very bad mood.

But I could -- could I just write to you and say, yeah. Here's what I would like to say to Congress.

I'm working my ass off, so I can keep my family afloat. And the families of all my employees, and you guys are just making my life more and more difficult, with more and more restrictions and -- and guidelines.

That nobody in Congress passed.

And are not good for the American people.

I've had it!

CAROL: Please do. Again, CarolRoth.com/CTA. Please do that. And I actually think being in a bad mood is a good time to write it, because that's when you will be honest. And that's when you will --

GLENN: I will write today then.

CAROL: Yeah. And so -- and speaking of helping, so one of the things that you did, that was very generous, Glenn. You offered to put forth a lawsuit. And I agreed. We cannot do that. Because we have been outspoken. But the good news is that there are two new lawsuits against this, that have also popped up. So we have a lot of really good momentum. And appreciative to you, for all of your help.

GLENN: Okay. Okay. So give me the address again. It's CarolRoth.com/CTA. Correct?

CAROL: Correct.

GLENN: Okay. CarolRoth.com/CTA. If you're a small business owner, go ahead.

Vent a little bit. You will take it to Congress. Thanks, Carol.

THE GLENN BECK PODCAST

The Shroud of Turin and the Moment of Resurrection - Why Scientists are BAFFLED!

For centuries, the Shroud of Turin has baffled scientists and inspired believers. In this powerful conversation, Glenn Beck and Dr. Jeremiah Johnston explore the evidence — from carbon dating controversies to the face that appears only in photographic negative. Could this ancient linen be the very burial cloth of Jesus Christ, capturing the moment of resurrection itself? If science can’t explain it… what does that mean for faith?

Watch Glenn Beck's FULL Interview with Dr. Jeremiah Johnston HERE

How JD Vance & Marco Rubio Became Trump's Not-So-Secret Weapons

Glenn Beck and Stu Burguiere unpack JD Vance’s viral response to a potential 2028 Vance-Rubio presidential ticket, where Vance praises Rubio as his “best friend” and credits Trump’s “grand strategy” for the administration’s success.

Unveiling the secret to transforming angry boys into real men

The world has a plentiful, seemingly endless supply of angry boys. What it's lacking is real MEN. Glenn Beck shares the secret that our young men must learn if they truly want to protect and perfect our country.

Transcript

Below is a rush transcript that may contain errors

GLENN: There's a difference between a revival and an awakening. We are in a revival right now, but that doesn't necessarily lead to anything. Except, oh, I have to re-learn those principles. But that doesn't mean you apply them in your life. Okay?

That's an awakening. There's been two great awakenings in American history. One brought us the American Revolution. The second one brought us the Civil War and the freedom of slaves.

We have the possibility of going into a third great awakening. That's the only thing that will save us. If you don't know the difference between a revival and an awakening. Let me give you the negative print of a godly awakening. Our kids right now, they don't have any purpose. They don't have any meaning.

They look at everything, and it doesn't -- it's not real. None of it is real. It's money. It's fame.

It's -- you know, it's ever changing truths and definitions. And they have no purpose in their life. Okay?

So they're looking for that. Because man has to have purpose in his life. Man has to search for meaning.

So they're searching for meaning. And they found a group of people that actually mean something. And they're willing to die for it. And it's ISIS.

And so they're like, at least these people believe in something. They believe it. And they're willing to die for it. I'm going to stand with them. And they put that twisted understanding into action. That's the -- that is -- that's an awakening. It's just an awakening to the dark side. And that one is already happening. It has to happen on the good side. And let me speak directly to young men: Look, you are inheriting a very loud, angry, cynical and worst of all spiritually starving and malnourished society. And you are being sold a future of cheap pleasures and hollow heroes and screens with blue light that just rob you of your strength, one distracted second after another.

And in the middle of all that noise, may I just give you one piece of instruction. If there is anything virtuous, lovely, of good report or praise-worthy, seek those things.

Don't admire them. Don't nod at them. Seek them!

Hunt them. Chase them. Build your life around those things. A man who will do that. A boy. A young man who will do that, will become different. Noticeably different.

He will stop letting the culture feed him garbage. He stops applauding the trivial. He stops laughing at the obscene or cheering for the cruel.

He will become a curator of -- of real, lasting beauty in an age that has forgotten what beauty even looks like.

When other men are chasing down or holding up cynicism, this man holds up hope!

When everyone around him is chasing dopamine, he chooses discipline. When others will blame their circumstance, he'll take responsibility for his own action. When the world worships the shallow, he goes and searches for the deep!

You want to know what the secret of becoming strong is, or becoming trusted, or becoming the kind of man that your future wife, your future children, your future nation can depend on?

Here it is!

You become what you seek. If you seek trash, you become trash. If you seek virtue, you become a man of virtue. You seek excellence, and your life will begin to shine, not loudly, but steadily. Like the steel glow of a blade being forged.

That's who you'll be.

The world has a plentiful, seemingly never-ending supply of angry boys. We don't need any more addicted boys.

We don't need any more distracted boys. The world needs men. Whole men. Clear-eyed men.

Men whose souls are anchored to something higher than the algorithms, trying to own them!

Build a life worthy of admiration. Forget about the applause. Fill your mind with words that make you wiser. Fill your days with work, hard work, that makes you stronger. Fill your home with beauty that lifts every soul who walks into it.

Have your home a place where people walk in and go, man, I say so great here. I just love it here. I don't know what it is about your house. I just love it. It's the spirit that's there! Because you built it! You protect it.

Protect your integrity like a watchman on the wall. Don't lie. Don't cheat. Don't steal. And when you fail, and you will, stand back up again.

Because a man who seeks the virtuous, is not a man who never fails. He just -- he just becomes a man who refuses to stay on the ground.

If you seek things that are lovely and pure, trustworthy, praiseworthy, you'll become a kind of man this age almost never produces. A man whose very existence is a rebuke to the darkness.

That's your calling. That's why you were born.

Not to be lost. Not to play video games. Not to give up. Not to say, there's no hope. Not to end up in the trash bin of human history because you've -- you've taken so many drugs, you can't stand up straight anymore.

You're not destined to be alone.

You were destined for great things. You are destined to find an amazing woman!

Believe me. I didn't think I would ever find an amazing woman. Because I didn't think I was worth it. I didn't think I was worth it.

And until I started understanding how God works. That, yeah. I'm not worth any of the stuff that I have.

When you realize, it's all a gift. It's all a gift. And even if you work your brains out, you may not ever get all the things that you want. But you're going to have everything you need. Once you realize, carefully selecting friends makes a difference. My mother used to always say, show me your friends. I will show you your future.

It's true. Be careful who you select as friends. Watch your language. Watch what you're putting into your brain and what's coming out of your mouth. Because the brain is so amazing. It's being turned to mush. Did you know that there is a new study that just came out. I have to tell you about it next week, maybe.

New study going out. It is -- it's AI. And it has access to social media, and they have found that the AI -- the AI that is scrolling through social media all day, just to keep updated on everything that's going on in social media. It's getting brain mush. It's actually becoming dumber. It's become less effective!

It's a machine. What do you think this, flesh and blood, this thing is going to do?

We say life is meaningless. And life is the only thing that has any value. And yet, we spend all of our time, on things like social media. And that has absolutely no value.

But we think that's life.

I'm not that smart. I've just lived a long time. And I've made so many mistakes.

And I decided at one point, I'm going to stop saying, it's somebody else's fault. I'm going to start saying. Maybe -- what did I do to create that?

What did I do to attract that?

Why does this thing keep happening to me?

Why is it that I always find myself involved with these same kind of people?

Because, Glenn, dummy, it's you!

What you think, it's like -- it's like think of yourself as a -- as a beacon. It's just -- you're a beacon. Your GPS pin, that is constantly saying, here I am. Here I am. Here I am.

Except, it's transmitting more than just your location. It's -- it's transmitting what you're looking for, who you are. And it's attracting other dropped pins to you. It's saying, "I like this. I think this way. I believe these things. I am afraid of these things."

Whatever it is, you're thinking. It's constantly putting that out.

And saying, here I am. Is there anything else like that?

Anything else that can reinforce that? Anything else that can live like this?

Because that's me. Here I am. Here I am. Here I am.

That's why you keep finding yourself in exactly the same situations. Nothing will change, if nothing changes!

And the only thing that you can change, is you!

Seek the things, that have virtue.

Seek the things, that have beauty in music, in -- in art, in life, in architecture, in clothing! Whatever it is. Look for real, lasting beauty and value.

Find the things that are true! Truly true.

Universally true. Find the things that uplift. Seek those things!

And you will change your life and your world!