Glenn Beck

So when property sales fall, local governments are losing a key revenue source.

What do they do when they lose that?

So they lose this key revenue source and their ability to pay for things weakens and safe investment products start to look, I don't know, less safe.

So China is so close to the edge because not only is their federal government way overloaded, but their consumers have bought all this stuff that may have been sold two or three times and they don't actually own it.

And the money to pay for all of the building of these ghost cities is on the locals.

And just the local debt is 46% of GDP.

Okay.

Okay.

Margin of error here is so thin.

And the moment, just like anything else, remember, gold is a barometer.

And what is it a barometer of?

Trust.

The moment that public belief, the moment ordinary people in China believe the guarantees are not guarantees, the danger isn't math.

The danger is a rush for the exits on everybody.

See the video.

It's free yet this week on glenbeck.com for the torch.

See the educational video.

I did capital controls.

I'm telling you these things now because no one else will.

Everybody was asking me last week.