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What the Latest CPI Report & Soaring Gold Prices Mean for YOUR WALLETplay icon
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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(music)
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.

Witnessing a SpaceX Launch & Predicting Elon Musk's Legacy in 50 Yearsplay icon
RADIO

Witnessing a SpaceX Launch & Predicting Elon Musk's Legacy in 50 Years

Glenn Beck recently witnessed a SpaceX rocket launch from hours away, and the raw power of it sent him into a passionate breakdown about the wonder of space travel, the brilliance of Elon Musk, and the insanity of a culture that’s turning on its greatest innovators. From the days of the Space Shuttle to Musk’s Starship and self-driving Tesla vehicles, Glenn argues that Elon isn’t just a tech founder, but rather a once-in-history mind, a modern Edison who revived an American spirit we had forgotten.

Transcript

Below is a rush transcript that may contain errors

GLENN: Last night, here in Florida, Tania said SpaceX is going to launch another missile. About 15 minutes. Let's go outside and see if we can see it. And we live right on the coast. And all of a sudden, you know, we're watching it, ten, nine, eight, seven, six. And about 45 seconds after the launch. We're like, oh, but we can't see it. Then all of a sudden, over the top of the trees, we just see this flame coming up. And it was absolutely. I posted it on the Instagram last night. On my Instagram page. It was absolutely one of the most amazing things I've seen.

From a distance. I've seen it once before. I've seen the last space shuttle lift off in the middle of the night. And I really close. I was across the water. I was just right across from -- what is it?

Cape Kennedy.

And I could not believe, it was a wonder of the world. 3 o'clock in the morning. All of a sudden, it was just day light.

And now, I'm -- oh, I don't even know.

Three hours away. Two, three hours away?

And it's one of the most incredible things I've ever seen.

It just starts coming up. And then, you know, you see the rocket. The boosters detach.

The -- the first stage rockets go out. They turn blue. Then they go out.

And then you see them. And it just picks up so much speed. And just racing through the sky.

It is incredible. It's incredible.

If you've never seen a rocket launch, I can't wait to see his -- what is the -- that was a falcon.

What's the big, big heavy one that he's working on.

Nobody knows.

VOICE: Falcon Heavy, isn't it?

VOICE: Is it the Falcon Heavy?

I don't know.

I don't think so.

I think -- somebody look this up.

Starship. That's it.

I think it's based on the original Soviet design. The Soviets, the reason why we beat the Soviets up in space, is they had this great design of like 24 rockets.

Where we had like four, big, huge ones for lift.

They had like 24, 25 rockets, at the bottom of it.

But they couldn't synchronize them.

You know, this was when computing was really, really bad.

They couldn't synchronize them.

So they couldn't keep it level.

So it would take off. And spiral out of control and blow up.

That's the reason why we beat them into space.

I saw the bottom end of one of these rockets in a video. And I think -- I think it's the original Soviet design. I'm not sure. Because now we have the ability to synchronize everything. But I can't wait to see that thing. Because it's bigger than a Saturn rocket. Bigger the ones that we send to the moon.

JASON: At some point, I don't know if the wonder of space travel left.

JASON: We get bored with things.

JASON: It's so weird. But Elon Musk just brought it back. I mean, we're doing just amazing stuff.

GLENN: It's like everything.

We did it. We mastered it. We put people on the moon. Everybody was crazed about it. I remember sitting in class and seeing the astronauts, you know, on the moon. We would go in. They would bring in an old TV.

And they would sit the TV. Before these things were even on the little -- you know, wheel, you know, AV kind of things.

It was just a big old TV.

And we all went into the regular -- you know, the gym, and we watched it on a regular TV.

And them walking around, on the moon. And that must have been in the early '70s.

And then after that, everybody was like, yeah. So we've been to the moon. Now, nobody believes we've gone to the moon ever.

Now we're going back up. And, I mean, it's amazing. It's amazing to watch. Because you just think, I just watched it last night. I'm like, my gosh. Look at the power of that thing.

I could -- how far are we away?

Three hours?

Two hours?

You could hear it. You could hear it. It got to a certain place. Where my wife said, you can see it on the tape on Instagram. My wife at one point said, can you hear that?

You could! You could hear the crackle of it. It is -- I mean, it's incredible. Just incredible.

I really want to go see a liftoff in person, again. Just amazing.

STU: Yeah. We should. To be clear, we should excommunicate him out of our society. Because you wore a red hat a few times. That, I think is a smart -- it's a smart move.

GLENN: I know. What a dummy.

STU: Yeah. He's an idiot. And obviously, we don't need him helping our country, right now.

Why?

Because he voted for lower taxes or something.

We -- that's a good way to run our society.

GLENN: Hate that guy. Hate that guy.

STU: Amazing.

GLENN: What a dope.

We have just -- we have just become morons.

STU: Hmm.

GLENN: We really -- really have.

History will look back and go, at what point, they just became morons. You know.

STU: Do you find it interesting, Glenn. He was at this turn with the Saudi Arabian, you know, delegation, I guess.

Trump did a turn and invited a bunch of VIPs to it.

I thought a good sign from the perspective of the relationship between Trump and Elon Musk, that he was invited in, was there.

Right?

Remember, they had a total falling out. It was over the Epstein files. If you --

GLENN: No. They made nice at Charlie Kirk's funeral.

STU: Yeah. So that's what you think earlier repaired. Somewhat repaired at this point?

GLENN: Yeah. Somewhat repaired. And, you know, if you're trying to showcase the best of America. Who better to have at the table than Elon Musk?

I mean, he is the Tesla or the Edison of our day. There's nobody -- is there anybody in the world that everybody, with an exception of those who are just so politically, you know -- I don't know.

Pilled. That they just can't stand anybody that votes differently than them.

I mean, be even when he was -- we thought he was a real big lefty.

I still wanted to meet the guy.

I still wanted to be, man, I would give my right arm to sit and listen to that guy in the same room.

You know what I mean?

It would be great.

This is a guy who will be remembered for hundreds of years.

After Jesus comes.

Well, we may not have history books at that point.

But he's going to be remembered for hundreds of years, as one of the greatest human beings ever. When they were still human beings.

So, I mean, who doesn't want to meet that guy?

How is it that we have half of our -- we have half of our country now just hating on that guy?

It's genius. Would you be happier if he was Chinese.

STU: Thank God, he's here.

GLENN: Thank God.

STU: And wants to be here.

And wants to be in this environment.

I think that, you know, you look at everything.

And it's going to be a great biopic.

The movie on Elon Musk's life. Is going to be absolutely incredible. Because he is a somewhat complicated figure at times.

There's a lot to discuss on the Elon Musk front.

GLENN: Oh.

STU: Just think of the fact that this guy has put, I don't know.

You know, hundreds of thousands. Millions of cars on the road right now.

That are, you know, capable and are driving themselves.

Think of -- that's like -- an incredible accomplishment!

This is a guy who is putting cars that are -- you know, have full self-driving. You can sit in there.

The thing will drive itself from point A to point B. Without you touching really anything.

And that is -- think about the fact that that's just being said. That even people are allowed. You know, that governments are just like. Yeah. We trust this guy. To let all these cars drive themselves.

It's an amazing accomplishment. That's just one of many.

It's really an amazing life.

Jasmine Crockett just DEFENDED this Jeffrey Epstein claim?!play icon
RADIO

Jasmine Crockett just DEFENDED this Jeffrey Epstein claim?!

Democrat Rep. Jasmine Crockett recently claimed on the House floor that Republicans, including EPA Administrator Lee Zeldin, had taken money from “somebody named Jeffrey Epstein.” But it wasn’t THE Jeffrey Epstein. Glenn and Stu review this incredibly dumb attempt to smear Republicans and the even more insane excuses she gave to CNN.

Transcript

Below is a rush transcript that may contain errors

GLENN: Let's start with Jasmine Crockett. Yesterday, she came out, and she said that Lee Zeldin was receiving money from Jeffrey Epstein!

And Lee Zeldin is like, what?

No, I didn't!

Now, he knows that he did get money from Jeffrey Epstein. Just not the Jeffrey Epstein. Another Jeffrey Epstein.

Here is -- here is Jasmine Crockett trying to spin her mistake, on CNN last night.

Listen to this.

VOICE: Senate Democrat, who has been on defense over Jeffrey Epstein is Stacey Plaskett. She represents the Virgin Islands. She was texting with Jeffrey Epstein the day of Michael Cohen's hearing. Her questions pretty closely followed the text messages between the two of them to ask about Rhona Graff, Trump's long-time assistant. You were defending her today and in recent days, yesterday. And you talked about Republicans taking money from a Jeffrey Epstein. Here's what you said.

VOICE: Who also took money from somebody named Jeffrey Epstein, as I had my team dig in very quickly. Mitt Romney, the NRCC. Lee Zeldin. George Bush. When (inaudible). McCain/Palin. Rick Lazio.

VOICE: You mentioned Lee Zeldin there. He's now a cabinet secretary. He responded and said, it was actually Dr. Jeffrey Epstein, who is a doctor that doesn't have any relation to the convicted sex trafficker. Unfortunate for that doctor. But that is who donated to a prior campaign of his.

And do you want to correct the record on --

VOICE: I never said that it was that Jeffrey Epstein. Just so the people understand when you make a donation, your future is not there. And because they decided to spring this on us, in real time. I wanted the Republicans to think about what could potentially happen.

Because I knew that they didn't even try to go through FEC. So my team, what they did was they Googled. And that is specifically why I said agent, because unlike Republicans, I at least don't go out and just tell lies.

Because it was -- when Lee Zeldin had something to say, all he had to say was it was a different Jeffrey Epstein. He knew he did receive donations from a Jeffrey Epstein. So at least I wasn't trying to mislead people. To find out who this doctor was --

GLENN: Can we stop for a second. There's so much to digest.

We have to stop for just a second.

You weren't misleading people. Because you didn't see it was the Jeffrey Epstein.

You said it was a Jeffrey Epstein. What is the problem with getting money from Jeffrey Epstein?

There's no problem. That would be like, and Stu Burguiere has been taking money from Bob Stevenson. And?

What's the problem?

He's been working for Bob Stevenson for years. He was delivering papers as a kid to Bob Stevenson's front door! Who is Bob Stevenson?

There's not a problem with that. Why would you go out and say -- if she had come out and said, you know what, Lee Zeldin was also taking money from Bob Stevenson and Jim Furstenbergersteinberg.

I mean, then it would be fine.

You clearly were smearing. Not misleading? Not misleading?

STU: Oh. I --

GLENN: What's the problem from taking it from -- other than poor Dr. Jeffrey Epstein. Oh, my gosh.

STU: First of all.

GLENN: I feel bad for that guy.

STU: That life sucks.

If you're Dr. Jeffrey Epstein, you got to think about a name-change.

But there's hundreds of Dr. -- not doctor, but hundreds of Jeffrey Epsteins across the country.

GLENN: Hundreds.

STU: And I -- I mean, she was designed in a lab to make me happy. Jasmine Crockett.

I -- I love her so much.

GLENN: True. I do too. I do too.

STU: If you could formulate the perfect Democrat. I think I would just have to put her out there.

She just says the dumbest.

Like, she can't even get her bad defense right over this.

Like, she's trying to say, well, I didn't lie. Like, that's your defense in theory. I threw this in here. I noticed it, at the time. We talked about it, I think yesterday.

That she said -- yeah. She did.

She knew -- which actually makes it worse. She knew she was lying. She knew there was a good chance this wasn't Jeffrey Epstein.

But the last thing in the world --

GLENN: It's not a problem if you would have said -- it wouldn't be a problem if you would say, look!

All of these people have taken money from a Jeffrey Epstein.

Doubt that it's the same Jeffrey Epstein. Might be.

Might not be.

STU: I mean -- what value would be that?

GLENN: I know. I know.

It would be no value. But at least you can say, I'm not trying to mislead people.

STU: Right.

GLENN: I am trying to create doubt in people's minds.

But I'm not saying he's taking money from Jeffrey Epstein.

You know, when she just lists all of these people.

I mean, let's look at her donation. Let's see if she's ever taken money from a Charlie Manson.
(laughter)

You know what I mean? She's taken money from a John Wayne Gacy.

Hello!

A Ted Bundy has been seen around her house.

I mean, it's crazy! It's crazy!

And she knew exactly what she was doing.

And I hope that she continues. I hope that she continues to gain power.

STU: Yes!

GLENN: And love and respect from the Democrats. Because she is insane.

She's insane? She's so reckless. She's insane.

STU: She is. And, by the way, this is the person that we are told that should be the face of the party, that they should lean into the way she talks.

Because she's such a good communicator.

And she gets on all these shows, Glenn. This is a massive problem in our politics. And it affects the left more than the right.

It affects both sides to some degree. We're incentivized. The entire system is set up to reward people like her.

Who just say the dumbest things possible. And the most irresponsible and reckless things possible. And get all the clicks.

This woman has been on Colbert. Why?

She has been a complete nobody who is wrong all the time. She's getting on all these massive shows. She's getting booked everywhere. She's living the ultimate life of today's modern congressman.

And what is going to stop her?

The incentives are right there for her to continue.

GLENN: Do you think she doesn't know that she's dead.

Because didn't a Crockett die at the Alamo. Is that her?

I think that's her.

I know a Crockett died at the Alamo.

I'm not really sure. I'm not really sure.

I mean, just, what a dope.

JASON: Can I just point out? It's like, I'm a part of her research team, because she put her team on this.

GLENN: But quickly. But quickly.

JASON: Yeah. I always thought, especially Congress research would have these amazing tools.

GLENN: No, they don't.

JASON: And we, like -- our team struggles over this. We're constantly trying to stay ahead of the curve.

GLENN: And the last thing we do is Google. Google.

JASON: Google searches. That's what you do in Congress.

GLENN: Yes. Yes. That is what you do. That is what you do.

STU: Don't you have to fire your whole team after this.

GLENN: I would. I would. No. But she -- I don't think.

I have a feeling that her team briefed her.

It's why she did say, A, Jeffrey Epstein.

They briefed her, and said, this is probably not the same guy.

It might have even said, if you're Googling, it might have said, Dr. Jeffrey Epstein.

Why wouldn't it?

If that's who gave that money, it most likely said, Dr. Jeffrey Epstein.

And so they would say, it's not the Jeffrey Epstein. Yes, but that's okay.

I mean, she clearly knew. So who is she going to fire? This is what she wanted. Just the smear.

STU: Do we have time to play the rest of this clip? Because there's more to this. It's amazing.

GLENN: Yeah. Go ahead.

VOICE: So I will trust and take what he says. Is that it wasn't that Jeffrey Epstein. But I wasn't attempting to mislead anybody. I literally had maybe 20 minutes before I had to do that debate.

STU: So good.

GLENN: Okay. Stop. Stop. Stop.

So you don't say it!

I literally had 20 minutes. So I -- I didn't know, that the sky wasn't on fire, that that was actually the sun.

I only had 20 minutes before I said, my God, the whole sky is on fire!

STU: This is why I love her.

GLENN: What were you thinking?

STU: She had no idea whether the accusations she was making was true.

And she didn't even consider not saying it. The only thing that she could come up with in her brain, whatever information that comes in, in this rushed time period, just go with it.

And it's like --

GLENN: Do you know why?

STU: Why?

GLENN: Do you know why?

And I don't know if she's smart enough to know this. But you can say whatever you want as a congressman on the floor of Congress, and you cannot be held liable.

STU: That's true.

GLENN: You could say the worst thing. You could say, he was having sex with 4-year-old with his Jeffrey Epstein.

And it could be a complete lie. And you could not be held responsible because you said it, on the floor of the house.

That's why the standards are so low.

The standards are absolutely so low for these Congress -- she could say whatever she wants. If she would have said, not on the floor of the house. Lee Zeldin would sue her.

You could say, you knew what were you doing. You were smearing me and my reputation, intentionally. You knew exactly what you were doing so you couldn't sue.

She could have said, and he was having sex with a 4-year-old.

As long as he said it on the floor of the House, not a problem.

STU: This is the --

GLENN: Yeah. That is how bad our Congress is out of control.

They've you written all these laws for themselves to protect them. So they can be completely irresponsible, and it's fine.

STU: Yeah. I mean, I don't know if it's that, or if she's just a dunce.

It's hard to know with her.

GLENN: She's just dishonest. She's just dishonest.

STU: Yeah. She's dishonest and bad at it. And that's one of the things that I love about it.

There's no wool being pulled over anyone's eyes. It's just pathetic.
GLENN: No. No.

Is there more to this?

Play the rest of it out.

VOICE: Make it sound like he took money --
VOICE: I did not know. I just heard registered sex offender.
VOICE: I literally did not know.

When you search FEC files, and that's what I had my team to do. I texted my team and said, listen. We're going up. They're saying the sheets --
VOICE: Similar to saying, well, your team should have done the homework to make sure it wasn't the convicted sex trafficker.

VOICE: Within 20 minutes, you couldn't find that out. The search on FEC. So number one, I made sure that I was clear, that it was a Jeffrey Epstein.

But I never said it was specifically that Jeffrey Epstein. Because I knew that we would need more time to dig in.

VOICE: Well, Stacey Plaskett was texting the Jeffrey Epstein, talking about -- you voted against the censure for her, to remove her from her committees. You know, we pressed the -- the minority leader, Hakeem Jeffries on this last night.

Maybe you don't think she should be removed from her committees. Why do so many Democrats seem unwilling to say, it's inappropriate to be texting with a registered sex offender about what you're going to ask a witness at a Congressional hearing?

VOICE: So I'm not going to say that was necessarily the case. Now, this was someone who was a former prosecutor. Now, I haven't sat down and talked about all the specifics of why Stacey was doing what she was doing.

I know that when she got up, and she spoke. She talked about the fact that this is one of her constituents. At the end of the day, what I know with prosectors, is that they are typically talking to codefendants. They're typically talking to the people who had the best information.

What you had was the former attorney for the president that was sitting there. And honestly, we knew. Or she knew or at least Jeffrey Epstein presented that he was very cozy with the president.

He had more information, registered sex offend or not. The bigger question is why is it that the president was so cozy with a sex offender. Even if he after ultimately ended up with some of his convictions.

And seemingly he absolutely was on the plane with him. We know about the birthday card. The bigger question is why is the president of the United States not the one in the hot seat for his relationship instead of us saying, oh, you know what, we're going to take her off of her committee.

Because he decided to text her.

GLENN: Stop. Stop.

I can't take this. I can't.

STU: Literally, none of the stuff she said was true.

GLENN: None of it is true. And she's presenting it as absolute fact.

CNN is presenting it as absolute fact. And the latest is the smear last week on the Epstein stuff.

It shows that Epstein that the reason he was going to jail or going through all of the problem is because Donald Trump was the whistle-blower!

I mean, it's -- it's incredible, what they can get away with.

It's absolutely incredible.

STU: All of those happened before this conviction happened. I don't know that she doesn't know that happened. It's so fascinating to watch CNN's response to that.

GLENN: Which is nothing.

STU: How many times they said, Donald Trump said this without evidence.

Where is that on the Jasmine Crockett allegations here?

GLENN: Right.

STU: How about the situation with Caitlin Collins, who at least -- I would say at least kind of asks questions here.

But she can't even take responsibility for them. She's like, oh, well, some people are saying, you shouldn't blurt out obvious lies in the middle of a House session.

Like, what do you mean some people are saying? You never say that when it's the president of the United States.

From Anthony Weiner Intern to Media Royalty... The Scandal-Ridden Rise of "Reporter" Olivia Nuzziplay icon
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From Anthony Weiner Intern to Media Royalty... The Scandal-Ridden Rise of "Reporter" Olivia Nuzzi

Reporter Olivia Nuzzi’s career is one of the strangest success stories in modern journalism. From volunteering on Anthony Weiner’s collapsing mayoral campaign to becoming a 24-year-old Washington correspondent with jobs created specifically for her... Nuzzi's rise through the media ranks defies every norm of the industry. Glenn Beck and Stu Burguiere explore how an unknown college student was elevated into a media celebrity overnight, why institutions continued to protect her even after major ethical scandals, and what her story reveals about how power truly works inside the press. Is this talent, luck, or something far more engineered?

Transcript

Below is a rush transcript that may contain errors

STU: Yes. And I will begin the story at the very, very start, Glenn. And I will start it with a question for you.

And this is a question that I think sets the scene for the entire journey we're about to go on.

GLENN: Okay.

STU: Journalist.

GLENN: Let me get my boots on.

STU: Let's do it. She starts her career, very first job, she volunteers as an intern for what campaign? Volunteers as an intern for what campaign?

GLENN: Just -- it just has to be Bill Clinton. Has to be.

STU: It's a good guess. However, timing wise --

GLENN: Oh, Anthony Wiener.

STU: Anthony Wiener is the answer.

GLENN: Yes. Yes! Yes!

STU: She volunteers for the failed mayoral campaign.

GLENN: Fascinating. Fascinating.

STU: Of Anthony Wiener. So this is how this story starts.

GLENN: Oh, Anthony Wiener. So she starts covering Wieners.

STU: Yes. She starts covering Wieners. And the whole story is her doing more of that. We'll get into that as we go.

GLENN: All right.

STU: She starts with the Wiener campaign. It's a disaster. It's kind of a legendary catastrophe. They have a documentary about to go. We talked about that at the time. You know, totally the whole thing flames apart.

GLENN: By the way. By the way. I'm just sitting here thinking, I don't think I was technically wrong when I said it was a Clinton campaign.

Because remember, Hillary Clinton is all over the Wiener.

STU: But that's -- please, don't say it like that.

But, yes. That is accurate.

GLENN: Yeah. Because if I say it like that. It leads you to believe. And that is absolutely not true.

I don't think she's ever --
(laughter)

STU: I think, yes. Because if you remember Huma Abedin, at this time is married to Anthony Wiener.

GLENN: Can you use air quotes? Air quotes on that?

STU: Yes. On her wonderful path to marry a Soros. She's at that time, married to Wiener. And she is helping out Hillary Clinton as her top dog main assistant.

GLENN: Yeah.

STU: That's ongoing. That's the first thing. Almost has nothing to do with the story.

GLENN: Did you use air quotes for the word assistant there, as well.

STU: I did not. So how does Olivia Nuzzi get into our lives? She goes to -- she goes from the Wiener campaign and leaves, and writes basically a tell-all, you know, scandal log of what was going on during the Wiener campaign. Basically, this thing was a catastrophe. She tells the inside story. And releases it to the Daily News. Who prints this column, from at this point a 20-year-old aspiring journalist. And, you know, she's pretty. She's glamorous. She's kind of like the New York elite journalist that you would exactly picture in this situation.

So she gets this, and turns that one column into a job, while she's still in college. She's at Fordham. She's still at college.

GLENN: Oh, she's in Fordham.

STU: Fordham, of course. I thought you would like that detail.

GLENN: Yeah, sorry.

STU: For multiple reasons.

GLENN: My daughter went to Fordham. They actually -- they actually had the balls to -- they held rallies against me on the Fordham campus, and then they had the balls to come and ask my wife and I to come in to meet with the dean, because they wanted to know if we would help them build a library.

STU: No.

GLENN: There were words that started with F that were not fruit!

STU: Yeah.

GLENN: As we left that meeting.

STU: Was it Fordham? Was the F-word Fordham? You Fordham!

GLENN: No. Fordham you!

STU: Yeah. That's the university.

GLENN: That's what I mean. Fordham University. Fordham you! Anyway, go ahead.

STU: Okay. So she gets hired from one that column, as one of the main presidential campaign correspondence for the Daily Beast, which tells you yet again, something about the standards of the Daily Beast when it comes to journalism, which are exactly zero. They have higher standards at Fordham.
(laughter)

GLENN: And those are pretty low.

STU: Those are low.

She is going to cover the Chris Christie campaign. The Rand Paul campaign. And some of the early bubbling beginnings of the Donald Trump campaign. This is back in 2014, '15, and there. She -- in 2015, as you note, as she's in this job. She does that tweet about House of Cards. And how women should not -- or Hollywood should not misportray the journalists that are females. Because they're always saying that they sleep with their sources. And that's a terrible thing -- point that out.

Which is an amazing thing for multiple reasons, Glenn. Because, well, I'll get into that here in a second.

GLENN: Yeah. Okay.

STU: So she see that. She then gets named by Politico one of the 16 breakout media stars of the presidential election. This is November 2016.

GLENN: Wow.

STU: She then in February 2017 parlays that into a job, as the Washington correspondent of New York magazine.

She's 24 years old. Twenty-four years old, Washington correspondent, at New York magazine. You're saying, wow. That's a prestigious position. Who held it before her?

No one. They literally create this job for her, which is incredible. Again, she's 24 years old.

GLENN: Again, it's probably not the only position created for her.

STU: She may have several that she's documented in -- in a book or two, that we could go over later. Okay. So -- and you wonder. And this is a time to pause.

GLENN: Jesus would not be doing this segment, I just want to let you know, right here and now.

STU: Right. That's true. That's true.

GLENN: Go ahead.

STU: You think about what a meteoric rise this is.

Glenn, you know this. This is not how media operates. You don't do what she's done here.

Like, incredible. It's like, she -- someone who never played basketball before, and is in the NBA three years later. It's legitimately an incredible rise. You wonder how that rise occurred. Those questions may be answered later on.

GLENN: Stop using the word "rise." You're making me uncomfortable.
(laughter)

STU: 2018, she's included in the Forbes 30 under 30 list.

GLENN: Uh-huh.

STU: Which is a very prestigious list. October 2018, as a member of -- working for the New York magazine. She's invited for an exclusive interview in the Oval Office to interview Donald Trump. Again, she's 25 at this point.

Very prestigious. She's awarded a next award by the American Society of Magazine editors. She gets a documentary on MSNBC. She portrays herself on the show time show Billions. In 2022.

GLENN: Oh, my gosh.

STU: Again, this is someone who is a massive celebrity in that world. You may not know her name. But she is a massive celebrity.

GLENN: Okay.

STU: She gets a six-part interview from Bloomberg. And then she does a profile of RFK Jr, the candidate who you may remember running for president as a Democrat.

Okay. I can't remember if the profile happened when he was running as a Democrat, or he had kind of flipped to an independent. But it's before he's endorsing Trump, or there's MAHA or any of that stuff. Right? It's in that period.

GLENN: Sure. Sure. Sure.

STU: And she does this profile of him that I guess goes pretty well. And it comes out much more favorable, I would say than many of the other previews. Profiles of RFK Jr in this period.

But, again, has some criticism. And some quirkiness in it. And her style of writing has all sorts of weird details. You know, sometimes it's kind of -- I think it's actually pretty good. I think her reporting was regulated. She did have some really fascinating stories that she wrote over this period.

But like, the celebrities seemed to overextend past maybe what she had achieved in her career so far. So she writes this profile of RFK Jr.

And then it is -- the news breaks that RFK Jr and Olivia Nuzzi are having what they call an emotional affair, which seems to be lots of very detailed loving text messages back and forth. Promises about --

GLENN: When you say loving. Is it like, you know, you are a child of God. And I just love you and want to help you in any way. Is that what you mean by loving? Or do you know do you mean like Barry White loving?

STU: Well, to put it in another word, we're talking about a Kennedy. So I'm talking about Kennedy style loving.

GLENN: Okay. Ding-dong, pizza delivery.

STU: It's important to note that Olivia Nuzzi is engaged to another journalist, Ryan Lizza at this time. And so she's engaged to somebody. RFK Jr.

Not that this makes seemingly any difference to him whatsoever, is married at the time, and is still currently married to an actress in Hollywood. So he's doing this. She's doing this.

This is suboptimal not only for a marriage, but also a presidential campaign. This goes on, the news finally breaks this is happening. This is a problem for a bunch of reasons. Number one, you're -- you have a fiancé. Number two, the person you're texting with is married.

Number three, though, a really serious journalist problem, right?

Like, you're profiling someone and having an affair with them at the same time. That's frowned upon, at least in theory, in the world of journalism.

Now, in practice, God only knows. But in theory, you're not supposed to do that, Glenn. This is something they tell you relatively early on in journalism school, I assume.

And so he --

GLENN: I've got to apologize to all those people that I've been sleeping with that I've been on the show.

STU: How many people have you profiled, Glenn? You just profiled the Great Mufti. Have you ever had any relations --

GLENN: Yeah, have you ever had the relations with the Mufti? I've got to tell you the truth, Stu. Yep. Yep. Back in 1942.

STU: Oh, no.

So all of this comes out in the -- in the media. And she sort of goes -- she gets fired from the New York magazine because of this journalistic lapse. And she sort of goes into hiding.

Okay? She goes into hiding. She moves. She is -- not saying word one about this. And, you know, she talks a lot.

So that's notable.

In this period, Ryan Lizza, her ex-fiancé now, they broke up. Ex-fiancé and her are -- are negotiating according to him, a do not -- what is it?

A non-disclosure. Don't talk about this. Don't talk about this. Don't disparage. Let's just let this be over.

He also gets a message, according to him, from an intermediate friend that says, "Hey. She never wants to talk about this again. She hopes you'll never talk about this again. Can we just move past this?" And he according to him says, "You know what, I'm on board with that. Let's just never let this go."

So a little bit of time goes on. What we learn is, her time in exile has actually been spent writing a book, which is called American Canto. It's coming out in a couple of weeks from today, or from yesterday.

Two weeks from yesterday.

And it's a book --

GLENN: Is this one -- does the book include her time with governor Mark Sanford?

STU: Well, we're getting to that.

GLENN: 2019, 2020.

I mean, was she sleeping with him, too, before the JFK thing.

STU: That's a big part of the story we're getting to. At this point in the story, we have no idea about that. We only know about the RFK Jr. thing. So she releases this book, and in it, is all these details about the RFK Jr thing.

Now, you would think the way the media would handle this woman who they've just ejected from their society for massive journalistic and immoral lapses would be hammering her over her activity here.

GLENN: No.

STU: Instead, she gets a glowing profile in the New York Times with, like, her -- with an incredible -- you have to seat footage, Glenn. You would love it. It's her, she's driving in a convertible. Hair in the wind. Like, Chanel glasses. She looks spectacular, as she's going down. This is how the New York Times rolls this out for her.