Belkar is currently making his way towards talking sense into Redcloak. He's done something similar for Serini, he's connected to Minrah, Minrah is connected to Durkon, and Durkon is logjammed with Redcloak because Durkon can't speak Paranoiac.

Belkar could change his mind and go somewhere else, but that's what he's approaching right now.

So I have to pull an Elan and say if Belkar talks sense into Redcloak, it's going to be a lot better for the story if Redcloak hasn't destroyed the phylactery at that point yet.

Speculation.