JustPearlyThings - The Meaningless Inflation Of Currencies ｜ Collin Plume @NobleGold

00:00:00.000 What up, guys? Welcome to the Just Pearly Things YouTube channel and welcome to The Sit Down.

00:00:05.840 Today, I have a special guest and partner of the channel, Colin Plume. Welcome to the show.

00:00:12.140 Thank you. Nice to see you.

00:00:13.720 Nice to see you. So you're the CEO of Noble Gold.

00:00:16.600 Correct. Yeah. And a few other. I'm also the founder of My Digital Money, which is a crypto

00:00:22.820 trading platform and sort of a serial entrepreneur. But today, I think we're going to talk mostly

00:00:28.820 about commodities, gold, and other things. Yeah. I'm really excited for this because us

00:00:34.460 as women, we're really bad with money. So I was like, this is great. This is like an improvement,

00:00:38.920 you know? Yeah. Well, you know, it's funny. A lot of people say, you know, with Noble Gold,

00:00:43.140 they always ask, like, are you appealing mostly to men? But it's a pretty big number. Almost 50%

00:00:50.160 of our clients are women. No way. Yeah. And I don't know if it's, you know, 0.83

00:00:55.960 you're dealing with over time. You know, our average client is, you know, 45 to 65, 70.

00:01:03.420 Okay. Yeah. You'd be surprised. A lot of times it's the husband doesn't even want to talk about

00:01:10.220 it. And he just says, yeah, I want to buy, get on the phone with my wife. And then she handles,

00:01:15.780 you know, 95% of the transaction. So, you know, I, you know, maybe it changes over time or,

00:01:21.240 you know, I don't know how it is, but I think in general, young people don't want to talk about

00:01:26.700 finances as much as, as they should. So why gold? Like what makes gold different than,

00:01:34.020 you know, cause I just feel like as a young person, we're constantly like spewed all this,

00:01:37.940 like there's Bitcoin, there's gold. So like, how do you pick?

00:01:41.600 Yeah. Well, I think you have to look at gold being around for, you know, 5,000 years. It's one of the

00:01:47.680 oldest assets there's ever was. And it was, you know, it's the real true currency is gold. You

00:01:53.960 know, today you're on the Euro, you're on, you're on the pound, you're on the dollar, you know, all

00:01:58.660 these currencies are just being inflated into nothing. You know, during the pandemic in the U.S.,

00:02:07.280 they expanded our money supply by almost 18% for two years in a row. So now we have this awful

00:02:12.880 inflation that most people believe isn't going away for a very long time. And this has happened

00:02:17.680 all over the world. Yeah. They just inflate these currencies. They kick the can down the street.

00:02:22.620 So gold is something that you just can't, you can't do that with. It's, you have to mine it.

00:02:27.160 You have to find it in the ground. There's a limited supply of it. You know, the supply only grows by

00:02:32.240 about one, one and a quarter percent per year. So it's a true, real fungible currency that has been

00:02:39.560 around a long time. And it just has, you know, tons of different uses in many different industries,

00:02:44.640 especially jewelry. Obviously, that's the one that people talk about is jewelry, but

00:02:47.780 it's used at heart monitors and cell phones. And there's a lot of other uses for gold out there.

00:02:53.260 I keep hearing about how, do you think the dollar and the pound are going to crash completely?

00:02:59.180 Yeah. I mean, that's, I think that's why they're talking about us moving on to these

00:03:02.280 digital currencies. I think they, they want, they know that eventually it is going to come. So I think

00:03:08.100 the story that's going to come out there is that, you know, now we're going to digital currency. We're

00:03:12.800 going to a new currency because the dollar has lost so much value and it's, it's happening all over

00:03:18.300 the world. People don't want to use the dollar. Countries don't want to use the dollar. The brick

00:03:22.080 nations are all moving away from the dollar. So it's very common for people to not want to use the

00:03:27.500 dollar right now. So I do think there will be a transition of moving away from, you know, these,

00:03:33.960 these kinds of currencies into, into new currencies. So what's the difference? Because, um, I think of

00:03:39.860 like my dad, my dad kind of sounds like your target, like the, the way you said between 45 and

00:03:45.880 70. Yeah. Yeah. That's my, my dad. Um, and he sold like his company, but he mostly did

00:03:52.900 properties and then he did investments. Like what's the difference between investments, properties?

00:03:58.960 Yeah. So, I mean, so gold is, is considered an alternative investment, um, today, even though

00:04:05.260 it probably shouldn't be, um, a lot of people put do, you know, if they sell a company and they

00:04:11.080 have a big windfall, they'll, they'll move into real estate. They're all the moving to stocks and

00:04:14.600 bonds. Those are the kind of traditional ways to go. But like right now, for instance, if you look at

00:04:19.080 real estate, you know, in the U S is a big, big question mark, you know, real estate in the U S is,

00:04:25.520 is very difficult to move and has, is we're seeing a dramatic pullback, uh, in, in some of

00:04:32.940 the values across the country, people aren't able to sell. So the, the, the pro of real estate is

00:04:38.060 similar to gold is that there's a limited supply. If you're buying it in a specific area, you know,

00:04:42.940 if you're in a city that people want to live, people will typically move there. Um, but also the

00:04:48.560 downside of it is liquidity. Right. And so, you know, if you're in properties right now, so for

00:04:53.660 instance, in the U S there's, you know, all these huge companies, these REITs bought massive office

00:04:58.940 buildings all across the country. Uh, and actually I was in Phoenix. I toured a number of these office

00:05:04.240 buildings for a business I'm involved in. And there is just millions of square feet of vacant

00:05:09.220 office space that people are never going back to. They're never going to go back to work in that

00:05:13.840 environment the way they used to. So, you know, there is that inherent risk of getting into the wrong

00:05:19.620 sector of real estate. And then maybe the investment is difficult to sell and the returns are, are

00:05:25.260 harder. So, you know, that's one area. Then the equity markets stocks right now, the equity markets

00:05:31.140 have been really rocky because nobody knows where interest rates are going to go. We don't know where

00:05:35.380 inflation is going to go. So we've had a very bumpy road in, in, in the stock market over the last

00:05:40.120 two years. And they're predicting, you know, the CEO of BlackRock predicts that we're going to see

00:05:44.300 interest rates in the 5% range for the next five to 10 years, that could be a very bad sign for the

00:05:50.900 equity markets because companies really have been using this cheap money. I mean, basically people

00:05:55.540 have been using this three, 4% money to, to kind of keep growing their business and growing and buying

00:06:00.940 houses. And if, if we stay above 5% or higher, that could really slow down that, that engine of,

00:06:08.320 of the economy that people want to, to keep going. So you think there's going to be a crash? Like,

00:06:13.120 do you think it'd be similar to like 2007, 2008? Yeah. I mean, they, here's the thing right now,

00:06:19.540 they've predicted that we're, and I believe we're in a recession, even though that some of the typical

00:06:24.120 indicators in the U S that, you know, unemployment is still low. But if you look at the other factors

00:06:28.600 out there, a lot of the jobs that people want 65,000 and above those, those companies are not

00:06:34.240 hiring. We've seen a general slowdown of the economy in many different sectors. GDP is very low.

00:06:39.980 So, so I think unless we see some kind of black swan event next year, we're going to be in a lot

00:06:45.920 of trouble in this country and they're going to have to keep interest rates really high. And so

00:06:50.260 that's going to keep this slowdown of the economy happening. So I think it's going to be very sluggish

00:06:55.100 for many years. And then, you know, just looking at inflation, I don't know, you know, what you're

00:07:00.420 buying day to day or what you're looking at, but it just seems like it's out of control. Yeah.

00:07:04.540 Yeah. I mean, gas prices here in the U S you know, we're looking at six, $7 a gallon. Whereas

00:07:12.020 if you go back five to seven years ago, we were in the two to $3 range. So how do people

00:07:17.780 afford to go on a vacation or get to work or to do all the things that they used to be

00:07:23.420 able to do when their salaries have not doubled yet? The cost of gasoline and all of these day

00:07:29.100 to day things have gone up significantly. Food costs have gone up 20 to 30% energy costs,

00:07:35.320 the same thing. So to go back to what you're saying about gold, the reason people like gold

00:07:39.760 is because it's an asset that they can hold. You know, these are assets that we ship to people.

00:07:44.080 They can actually hold these assets. It has a limited supply out there. And if you look at

00:07:49.380 today's prices, it's very, very affordable relative to where a lot of people think the price

00:07:55.320 of gold and silver can go. Is gold typically more of like a long-term investment? Cause

00:08:00.320 I, cause I think of like, if I get a paycheck, right. And it's, you know, let's just say it's

00:08:04.880 $5,000, right. Are you able to put that into gold and still spend the gold or is it more something you

00:08:10.860 put away and like leave there for a long time? Yeah. I mean, I, you can, there are states here

00:08:16.000 in the U S that are accepting gold for taxes and payments like Utah and the state of Texas is

00:08:20.920 actually trying to pass a law where they'll have a gold back currency. So there are places that do

00:08:25.960 accept some gold and silver, but typically this is kind of a sleepy investment. It's, it's one of

00:08:31.540 those investments that you buy and you hold for, you know, five, 10, 15 years, and you want to just

00:08:38.000 buy it and just sort of forget about it. And over time it will go up. It's not an, this kind of

00:08:43.320 investment. It's not a kind of an investment that you're looking to trade quickly. Other investments

00:08:48.160 are investments that you want to be more active with, but when you're buying gold, it's, you have

00:08:52.980 a chunk of money, you want it to be, you know, a good hedge against inflation. You're looking at,

00:08:58.480 you know, kind of an insurance policy kind of buy. So it's typically a safer long-term investment,

00:09:03.560 but yeah, absolutely. If you have a paycheck and you want to allocate some of it to gold, people do

00:09:08.820 that. But as I said, typically our buyers, you know, 45 to 75, they've, you know, built their nest egg

00:09:14.620 and they're trying to just, they just carve off a piece. They pull some of it out of the stock

00:09:19.720 market and they just want to get into something that's a little safer. Okay. So it's typically

00:09:23.300 more of like a long-term investment. Yeah, that's typically, I mean, you can see quicker gains and

00:09:28.800 if you need the money, you can always sell it. You don't have to stay in it. You're not locked into

00:09:32.960 it in any way, but yeah, typically if I, you're looking at a five to 10 year hold is, is what you

00:09:37.160 should be considering when you're buying this investment. And you said you have like a Bitcoin

00:09:41.440 trading company too. Yeah. My digital money is our, is our crypto trading platform. So for anyone

00:09:47.420 that wants to get into crypto, you can do it in your IRA. And, you know, we were talking about,

00:09:52.360 you know, the thing about crypto that's hard sometimes is that people don't, you know, they

00:09:56.800 don't want to remember a code or they don't want to have their own wallet and they don't want to do

00:10:00.560 all these, they lose their wallets. There's the famous guy. I think he's somewhere in Europe. He

00:10:04.760 actually lost the Bitcoin and then he was trying to find it in the land. Do you know the story?

00:10:09.500 I've heard, I've heard, I lost my, I lost my hundred dollar Bitcoin thing I got at the

00:10:15.340 convention and I, that hurt my soul a little bit. I don't like wasting money, you know?

00:10:19.700 Yeah. And they were, you know, they were probably thinking like, if we give this a hundred dollar

00:10:24.160 Bitcoin out to like a hundred people, 85 are going to lose and we're never going to have to pay out

00:10:29.900 on this code because, you know, we're not set up anymore to, to be able to, you know, just have a

00:10:35.360 code and just have it all set up. So my digital money, we take care of all that, the paperwork,

00:10:40.740 all the IRS reporting, all the tax reporting. Really? Yeah, we do all that. And everyone,

00:10:46.200 anyone in the U S that's looking to, to, to get a crypto account, they don't want to deal with any

00:10:50.820 of that. My, our company does that. And we do that on the gold side too. If you're doing it in IRA and

00:10:54.920 gold, we do all the tax reporting and everything there for you too. So it's all, it's all taken care of.

00:10:59.800 So would you say like, because when you get dollars or pounds that that's inflating like crazy,

00:11:06.020 but you still need to spend money day to day. So do you recommend that people get Bitcoin to like

00:11:11.860 spend day to day or keep spending in cash? Like how do you differentiate that?

00:11:16.760 Well, I would say the, the major issue with Bitcoin is, is the volatility.

00:11:20.740 Yeah. Looking at a situation where it's not stable enough as a currency that you want to be using it

00:11:27.780 day to day, in my opinion, because you're, you're really looking at a situation where

00:11:31.880 it can move up and down 10, 15, 20% pretty easily. And so that's not stable enough as a currency.

00:11:39.960 Now the dollars and the pound are the same, they're losing, you know, anywhere from five to

00:11:44.420 8% per year, but you got to have enough to transact and live on. So what I always say is you

00:11:50.480 should have enough in, in currency to survive day to day, but everything else you should be investing

00:11:56.500 in something that can hopefully achieve a higher return than inflation. And depending on what you

00:12:01.380 believe inflation is anywhere from five to, you know, 10%, depending on what numbers you're looking

00:12:07.000 at, you got to be looking at investing. And I think, you know, talking to young people about this

00:12:13.080 is that they, they have this sort of hoarding mentality with currency and cash, and they think

00:12:18.640 they should be sitting a lot in cash. And actually, even at a young age, you should be allocating in your

00:12:24.380 twenties and that you should be allocating a little bit into investments monthly as continuously as

00:12:30.480 you can, because the earlier you start to build those habits of, of setting money aside and getting

00:12:35.740 returns, the easier it gets when you start to hit an age, when you're getting, um, when you're making

00:12:41.120 the kind of money that you do later on in your life, you know, most people, their earning potential

00:12:46.440 sort of hits their high number in 35 to, you know, 45, 50 range. So building the habits in the early

00:12:53.340 twenties, even if you're only putting maybe 50 or a hundred bucks a month away or something to that

00:12:57.620 number later on, when you're making bigger income, you've already built that habit. So you'll go from

00:13:02.880 saving a hundred dollars a month to a thousand or 2000, whatever you can afford. And then you're able

00:13:07.680 to sort of get to the point where you can retire, uh, safely. It's so interesting because

00:13:13.360 entertainment is such a bubble where people just like get like, like, it's like the opposite,

00:13:18.880 like they're earning potential, like ends at 30, you know? Yeah. I mean, yeah. I know that's not,

00:13:24.520 that's not the normal, like life cycle, but I was just thinking how it's like the opposite in

00:13:28.880 entertainment with like streamers, you know, entertainment is like, yeah. And, and professional

00:13:32.980 athletes, the same money when they're young and, you know, it's, and it's sort of a shocking,

00:13:40.060 you know, they get that shock, like that first good check, or they're starting to earn some money.

00:13:43.840 And, you know, they think, excuse me, that potentially that could go on forever.

00:13:49.760 Yeah. You know, as we know, we have a writer strike, actor strike, like it gets, it can get

00:13:55.060 tougher over time. Um, but yeah, no, there's, you know, those two industries are really interesting.

00:14:00.760 I actually have a lot of friends that are agents for, for professional athletes and they always talk,

00:14:06.320 try to talk to them early about investing and money. And, you know, they sign a $5 million deal and

00:14:11.580 they get, you know, 5 million and then, you know, two, two, two and a half million goes to taxes and

00:14:15.980 they got to pay their agent. And this, so 5 million goes down to kind of like a million pretty fast.

00:14:22.060 And you'd be surprised. A lot of these guys can blow a million bucks.

00:14:25.440 That's what my dad told me. He said the same thing. He was like a million isn't as much as you

00:14:30.160 think. And I know like the average person's going to like, be like, ah, Pearl, you're so privileged.

00:14:34.540 But like, but I, when I, when he started to break down, like the way people spend money,

00:14:39.620 um, and how quick they can blow it, he's like a million dollars in their twenties. They'll blow it

00:14:44.440 by like 10 years. Oh, easily. Yeah. I mean, you hear about some of these athletes, uh, there's,

00:14:50.400 you know, famous like Mike Tyson, for instance, uh, the boxer, he, he earnings 300 million. And when he

00:14:57.500 went to jail the second or third time, he was almost completely broke. He blew 300 million.

00:15:03.180 Yeah, absolutely. Houses and cars. And, you know, I mean, listen, he, he lived it up. I can tell you

00:15:11.360 that right now. He was living a fun life. I mean, the stories that I've heard are pretty, uh, pretty

00:15:17.460 elaborate and, and, uh, he definitely lived for the moment. Um, but yeah, when you, when you make

00:15:22.920 300 million in, in career earnings of boxing, you should be okay. But somehow, you know, he's got a

00:15:27.580 tattoo on his face and he came out and he's got a sense of humor and now he's, he's built a whole other

00:15:32.120 career, but it's unusual. Usually people can't, uh, but he, he was somehow able to reinvent himself

00:15:37.560 and, and, you know, become a, a star and use his celebrity in a way to make money. Yeah. It's so

00:15:42.460 interesting. Cause I'll see, I'll see people like online and my, my dad's, um, he's kind of, I call

00:15:50.200 him like the cheapest, like successful guy you'll ever meet. He's very cheap guy. And, um, and I'll be

00:15:56.340 like, dad, how do they afford this? And he'll always tell me they can't, they do not, they can't

00:16:01.380 afford it. Yeah. Yeah. There's a famous comedian, uh, Sebastian Maniscalco who does this, he has a

00:16:08.000 skit and he does like, um, he talks about when he, his dad walks around his house, he has to tell

00:16:13.040 him the parent price because like his dad can't believe how much everything costs. Basically he's

00:16:18.820 like, you know, he'll be like, you know, what's that TV? And he'll lie to him and tell him it's

00:16:23.900 like $200. And his dad is like, $200 for a TV. That sounds just like my dad. Yeah. That's, and

00:16:30.680 that's true. Like you can't tell your parents the real price of anything nowadays. Cause they're

00:16:35.220 absolutely blown. Um, so it's, it's, it's funny. Um, I know we were sort of, we broached the subject

00:16:43.260 and being a year out in the UK. Um, but one of the biggest, uh, you know, people always talk to me

00:16:50.100 about central banks buying gold. One of the biggest reported blunders, uh, for gold was, uh, from, uh,

00:16:57.440 99 to 2001, Great Britain sold basically 90% of its gold reserves. And it's sort of a blunder. And I,

00:17:04.580 and at the time I think it was interesting because gold had sat pretty dormant from 1983, 84

00:17:11.600 to 2000, it didn't really move. And so they had all this gold, you know, obviously Great Britain

00:17:17.180 has tons of gold and, you know, they were always having this goal and they thought it was safe and

00:17:21.640 they, you know, held it. And then basically they started selling it in 2001. And then within six

00:17:26.120 months of them selling it, gold started to go up 20% per year for like nine years or eight years in a

00:17:32.400 row. Um, so it was sort of reported one of the, the, the biggest, uh, blunders from a prime minister.

00:17:38.500 Um, yeah. And then over time, I'm sorry, who was that? Who did it? Brown, I think was the prime 1.00

00:17:46.000 minister at the time. I don't know. Maybe you know more than me, but, uh, but yeah, it's, it's

00:17:50.420 interesting, um, that, that sale happened and just, you know, obviously horrible timing. Uh, and, and it

00:17:57.680 shows you can't really predict the market too much. And if you have a stable asset in your reserves,

00:18:03.060 it's probably good to keep it. And now central banks have been buying like crazy. The last two

00:18:08.840 years, China, Russia, uh, you know, Brazil, you go down the list. These countries are buying tons

00:18:17.500 and tons of gold and they're putting it away because of exactly what we talked about earlier.

00:18:23.200 They don't have faith in the dollar. They don't have faith in the Euro. They don't have faith in

00:18:27.160 any kind of paper currencies. And so they're divesting, getting out of us bonds, getting out

00:18:33.020 a lot of that money trap that they've been in for a long time. And they're going into, you know,

00:18:37.220 the yellow metal to protect themselves. Um, so it's, it's a unique time in our history. I think,

00:18:43.320 you know, you look at what's been happening globally and, and, you know, overall fear of the

00:18:49.020 economy and things that are happening and people are fleeing some of the traditional real

00:18:53.280 estates and stocks and bonds. And they're diving into, uh, into the yellow metal, uh, to, to protect

00:18:59.060 themselves. Okay. So you said that the stock market is a casino and it's too risky to invest in.

00:19:06.800 Well, I, I, I think it depends on your risk level. I think, I think a lot of people are,

00:19:12.000 you know, depending on where they're at in their retirement journey or where they're, how close they

00:19:16.800 are. I think you have to be cautious, especially right now, because there's so many negative factors.

00:19:22.760 The stock market, in my opinion, has really, a lot of it's been built on low cheap money that

00:19:28.980 companies are able to use to grow. And if we are going to have interest rates stay in the five to

00:19:34.780 7% range, uh, U S mortgages, uh, uh, yesterday hit the highest it's been in almost 23 years and 7.4%.

00:19:42.680 So that means that, you know, two years ago, a U S homeowner could have got a mortgage at 3%,

00:19:48.840 some lower that same mortgage on the same house. People are buying today is 85% higher.

00:19:55.800 Wow. So I just think right now, and there's so many companies across the country that are,

00:20:00.660 that are predicated upon the real estate market continue to move and people buying houses.

00:20:05.620 And so I just believe that right now, until we figure out what we're going to do with inflation,

00:20:10.660 until we get rates in a more normal pattern where we get them down, maybe they don't go back to three,

00:20:16.680 but they go maybe in the four, four and a half percent range until those things happen. I think

00:20:21.480 the stock market and, and, and real estate are going to be pretty rocky. Do you think that they'll

00:20:25.980 ever go back to the gold standard for currency? It's interesting. Yeah. I mean, I think that it'd

00:20:31.260 be hard to go to a full backed, uh, gold standard, but in some ways it'd be so great. You know, we just

00:20:37.680 had a potential government shutdown, uh, you know, a few days ago and it was averted over a weekend deal

00:20:43.320 over, you know, tea and crumpets or whatever they were eating. And it's like, you have these

00:20:47.260 situations where, you know, the government has, has no real sense of how to balance a budget. I mean,

00:20:54.900 in the U S it's, it's literally every year they're raising our debt ceiling. Now we're at third,

00:21:00.100 the U S is at $33 trillion in debt. Um, that number is just, it's, it's mind boggling. And so,

00:21:07.300 and because they don't have any real recourse to, to, to stop it, like, cause we're the world's

00:21:13.680 reserve currency. It's just, it's just a matter of time before we get to 40 trillion and 50 trillion,

00:21:19.300 it's never going to count. Whereas if we had a partially gold backed system, we wouldn't be

00:21:24.760 able to spend this freely because there'd have to be enough gold to back, uh, all the currency out

00:21:29.700 there. They wouldn't just be able to spend and increase the money supply this much. So in a lot of

00:21:34.140 ways, it would be fantastic. You know, the brick countries have been talking about doing a gold

00:21:38.420 backed system. China has been talking about it. They've been buying a lot of gold, whoever can do

00:21:43.540 it, whoever nails it. I think that currency will, will become the number one currency in the world.

00:21:48.640 Um, but it's, it's really just a matter of politicians loving to just spend freely and,

00:21:55.640 and putting them on a gold standard does not allow them to do that.

00:21:58.720 You're saying the debt is just going to keep going up and up and up. Um, what do you think about

00:22:03.980 because aren't they, and I, and I've just heard this, but I don't really understand it completely.

00:22:08.540 They, they talk about how it's like, we're turning into more of like a debt economy

00:22:12.940 wherever, like where businesses are even in debt, like everybody's in debt.

00:22:18.300 Yeah. Yeah. Well, you look at like, you know, you hear about these IPOs and these companies that

00:22:22.860 people sell on the stock exchange and you're like, Oh my God, these companies, they, you know,

00:22:26.840 they came out in the stock and they're so successful, but 95% of those IPOs, those companies

00:22:33.160 are not profitable. And they're literally just living on debt. Now they're getting debt from

00:22:38.260 different places. They may be getting debt of, you know, getting actual loans. They may be getting

00:22:42.740 money from, um, VC money. So, you know, a big conglomerate comes on and gives them money,

00:22:48.480 but, and they're getting equity, equity, equity money that they're getting from different places.

00:22:52.940 But if you look at these companies that they, they come out and the stock prices hit these crazy

00:22:57.860 stock prices, 95% of them are actually not profitable. And so, yeah, we are living in a

00:23:04.380 debt society. If a, if a company hits a stock market, uh, like Uber, for instance, uh, maybe

00:23:10.400 they've hit profitability now, but over the last, you know, 10 years, they've never been profitable.

00:23:15.560 They've literally just been getting more money from equity investors over time. And they just keep

00:23:21.140 getting VC money and, you know, they hit the stock exchange and then there's money because

00:23:25.220 the stock exchange, but overall, you look at the, a lot of these companies, there's, there's really

00:23:30.180 no profit. Um, and, and so as a business owner who, you know, and that's the interesting thing

00:23:36.220 about a small and medium-sized business, small, medium-sized business, we're not going to get

00:23:39.660 venture capital money. We actually, you know, maybe you get some money from friends and family

00:23:44.260 when you start out. Um, you know, I did it when I started Noble Gold and most of my business,

00:23:48.420 I didn't, but for the most part, like a small, medium-sized business, we have a P and L and

00:23:53.540 we have to actually show profit. We have to make money in the world. So you have these

00:23:58.020 normal businesses, you and I, for instance, you're, you're a good example too. You're a

00:24:01.720 business. You have to show pro you have to make money every month. And if you don't make

00:24:06.900 money every month, you're going to have to get a loan from somebody and who's going to

00:24:09.580 want to get a loan to, to somebody that's not profitable at, at, at a certain point.

00:24:13.900 So, uh, and you know, I'm sure at the beginning you had to bootstrap, you're, you're putting

00:24:18.740 up your own cameras, you're doing the whole thing. And then you get to a point where you

00:24:22.160 hire some people and you grow and you go from there. But at the end of the day, you know,

00:24:25.880 small, medium-sized businesses are really the ones that drive the economy. If you think

00:24:29.520 about it, because they're the ones that actually have profit. Uh, and when you have profit, we,

00:24:33.680 we pay taxes, you know, unlike a lot of operations. So, so all the, all the big companies

00:24:40.400 are just in debt and are they going to go under, is it going to kind of be like a Sears

00:24:44.820 thing where they just eventually. It just, it comes down to the level of debt that a lot

00:24:49.820 of these companies are in. Yeah. Sears obviously ran into it, but if you look at Sears, they

00:24:53.580 filed for bankruptcy and were able to stay open for many years. I think they filed bankruptcy

00:24:57.960 probably 20 years ago. And then they were able to stay open over time. They were able to

00:25:02.080 restructure the debt. They were able to do a lot of different things. Uh, they had some

00:25:06.360 real estate there. So, so they had some, some value there. Um, but yeah, I mean, you

00:25:11.060 do see it. I mean, if you go back, uh, 20 years and you look at, you know, the S and P 0.98

00:25:16.120 and the Dow, a lot of the companies that were there 20 years ago are no longer there. So

00:25:20.000 they do eventually either fall into oblivion or they go out of business or stuff happens.

00:25:25.360 Um, so you do see a shift of that wealth happening, but there's so much money made in

00:25:30.400 the VC go to IPO market and they make their money there and they don't really care if

00:25:37.100 that company is actually profitable. Um, it's more about just getting it to the point where

00:25:41.880 it sells out or some bigger company buys it. And then they'll figure out if there's any,

00:25:46.880 any profit, uh, in the company at all. Okay. So basically they're in debt and the investors

00:25:53.320 fund it for like 10 years or whatever, and then they sell it to a bigger business. That's what

00:25:59.100 happens. Or, or they go IPO. They said they go on the stock exchange. Um, you know, and,

00:26:03.760 and when they go on the stock exchange, they do interesting things. I don't know if you

00:26:06.920 know about Salesforce, a big company here in the U S they, they do all the CRM management,

00:26:10.560 but they laid off 8,000 workers like eight months ago because they wanted to hit their quarterly

00:26:17.120 numbers. So they wanted to hit their quote. They fired, you know, 8,000 people. And then

00:26:21.600 basically after the quarter, they realized they actually needed a lot of these people. So they

00:26:25.740 were trying to hire the same people back. So they're trying to hire 3,000 of the 8,000

00:26:30.400 people back to the same company is because they were trying to hit a quarter. They hit

00:26:34.600 that quarter. And then now they want to bring those people back because they're going to

00:26:37.560 put those, uh, employees back in the book. So yeah, it's, it's quite interesting. Um, when

00:26:42.900 you really start to dive in the economics of it. Um, and that's why for me, uh, always being

00:26:48.520 a big proponent of just small and medium sized businesses. Cause we really, if you look at

00:26:54.580 the next 10 or 15 years in the world economy, you know, uh, organizations like ours that

00:27:00.240 are slowly growing over time, that actually have profit that are doing, putting jobs on

00:27:04.320 the table and have to look at, you know, the actual staying profitable over time were the

00:27:09.580 companies that actually will grow the economy, uh, for the future. And, and that's why I think,

00:27:14.920 you know, I'm such a big proponent of influencers, first amendment rights, you know, people like us

00:27:20.780 that are getting out, hiring people and doing the right things with business and really trying

00:27:25.480 to grow our business over time, organic. Should businesses put their reserves in gold?

00:27:30.660 I have had, I've had a number of corporations, uh, put a percentage in gold. Um, actually the

00:27:36.900 CEO of overstock.com who's a big proponent of gold and silver during two or three years

00:27:43.440 ago, he actually had enough silver. If the dollar fell apart to actually pay his employees in silver,

00:27:50.340 um, we've had a number of organizations, uh, nonprofit religious organizations that'll put

00:27:56.020 some of their reserves into gold and silver. So we've had that happen. Obviously I'm not a financial

00:28:00.740 advisor. I can't advise anybody of anything, but at the end of the day, we have had a lot of people

00:28:05.540 do that. And I think in today's environment where, you know, there's a lot of nervousness out

00:28:11.020 there, I think it's worth taking a look at gold. Um, because if you look historically, we're sitting

00:28:16.500 in the mid 1800 range gold did hit, uh, well over $2,000 now it's 2,070. Um, so I think if,

00:28:23.320 if it goes back to where it was, you could see some pretty significant upside from where it is today.

00:28:28.600 My, cause I think of like your target market. I think of my dad, he, he's very big in like the

00:28:34.480 investment, like stock market. What, what's like the, like why gold over investments?

00:28:40.600 Yeah. I mean, I think like, I believe that you should have a little bit of everything. So I'm not,

00:28:44.340 I'm not saying you shouldn't have any money in the stock market. Uh, I just think you have to

00:28:48.580 understand the level of risk. And obviously there's a lot of different ways to invest in the

00:28:52.620 stock market. You can invest in international equities. You can invest in, you know, you can

00:28:57.800 invest in, um, you know, the S and P or the NASDAQ, different types of companies. So I think you should

00:29:03.960 be considering all of them. I think the thing about gold that people like when they buy gold is they

00:29:09.580 like the control, you know, number one, you own this. So there's no fund manager. There's no, um,

00:29:16.320 it's not a stock. You're actually buying a real asset, which I think a lot of people, when they

00:29:21.860 get gold or they have it, they feel very comfortable that they don't have to trust. Cause in essence,

00:29:27.020 anytime you buy a stock, you have to trust that team, that CEO, that they're doing the right thing

00:29:32.980 with the business. Whereas this, you're buying the asset and you're in, you're in control of it.

00:29:36.440 And a lot of people, especially as they get older, they want assets that they can actually

00:29:40.440 control. And they're in charge of also the other idea with the stock that some people don't like

00:29:45.120 is that you're sharing it, right? You're just buying a share of a bigger corporation. And a lot

00:29:50.420 of things can affect the value of that corporation. You know, we've seen things like, you know, CEOs of

00:29:56.140 company say the wrong thing, get fired. And the stock price drops 10, 20, 30%. You know,

00:30:03.560 you saw what happened to Bud Light. Great example. Somebody thought there's-

00:30:07.080 Oh, that is a bad.

00:30:08.960 Yeah. And what happened? That stock went, and then you'd think to yourself,

00:30:13.440 Bud Light, you know, Budweiser, Bud Light.

00:30:15.740 Right. That's really, you would never expect them to put a gay guy on there. 0.97

00:30:21.380 And one, you know, one siloed person on their marketing team said, Hey, we want to hit app,

00:30:28.200 go after a 0.001 demographic, and we're going to do an ad. And it blew up. I mean,

00:30:34.060 they're down. I don't know if you know this. They're down like 25% of their business. And

00:30:37.440 actually, Budweiser had to sell off like 10 of their alcohol companies. You know, they have a

00:30:44.580 number of them. They had to sell off 10 to kind of fight off some of the loss that they had. So,

00:30:50.040 you know, that's the problem. That is the one major issue with that.

00:30:53.460 So, so gold's like the most consistent because all the other, like the Bitcoin goes up, like,

00:30:59.060 and so even though the stock market, the general trend is up, and even though the investments,

00:31:05.460 the general trend tends to be up, gold is like the most consistent one out of the three.

00:31:10.960 Yeah. You're sort of betting against the other things falling apart, right? You're sort of like

00:31:15.300 insurance. It's, it's, it's a similar idea to buying, you know, you're buying some safety,

00:31:20.280 you're buying something safe, you're buying something that's been around a long time.

00:31:24.960 And, and, and, and if inflation continues to go up and it's at the numbers that they expect,

00:31:29.580 typically gold goes well. And I'd also say platinum right now is a very undervalued metal.

00:31:36.080 They're starting to use platinum in the catalytic converters and cars. And so now that we're moving

00:31:40.700 to a lot of these electric cars, they're going to need platinum. So I'd also look at platinum right

00:31:45.000 now as, as being an undervalued asset, platinum is just under $900 an ounce. So yeah, it's,

00:31:51.720 it's typically, you know, gold is typically moves kind of inverse to a lot of the other markets out

00:31:57.860 there. And so you have gold, silver, and platinum. Gold, silver, platinum, palladium are the four

00:32:02.280 metals that we sell. We sell it all in bullion, you know, bullion means minted in mass supply.

00:32:08.700 Right? So these are bullion, gold coins. These are bullion bars, anything that they mint mass

00:32:14.640 supply is considered bullion. And the reason that bullion is where you want to have the majority of

00:32:18.700 it of when you're buying precious metals is because if a lot of people get into these, you know, coins,

00:32:24.480 these kind of over-dramatized coins that are really expensive and not necessary. So you want to stick

00:32:31.020 into bullion coins and bars that are mass produced, because you're going to get the most value.

00:32:35.400 They're the least priced. So you're going to get the most bang for your buck when you buy,

00:32:40.920 you know, generic bullion coins and bars. Do you mean like those, those like packets

00:32:45.000 they used to sell with all the, you know what I'm talking about? Like the gold coin packets or like,

00:32:50.500 it'd be like silver. You mean like, like the, the bars that come in? No, no. When I was a kid,

00:32:57.040 they would always give me the, it was like a package of all these different like coins for the year.

00:33:02.320 Uh-huh. I don't think those are real. I don't know if those are real. If they're real,

00:33:06.640 were they not real? I don't know the school you were going to, but I wish I went there.

00:33:11.320 No, no. My mom would get me like the, the coins for the year. I don't know.

00:33:15.740 Do you have those? I know. I don't think those are real gold.

00:33:18.580 Oh, shit. 0.99

00:33:19.200 My gut is that they're not real gold and silver, but if they are, you may want to check. 0.99

00:33:23.080 I would just say you should check it out and make sure.

00:33:25.600 Is that not a normal childhood? I don't know.

00:33:27.620 You might have like, you know, like, you know, 50 grand in gold and silver that you didn't even know.

00:33:32.960 Is that how much that's worth? The coins?

00:33:35.800 Well, this, so give me an idea. So these are two one ounce gold coins.

00:33:39.120 They're worth like, 1950 each.

00:33:42.840 Like, like dot, like 19, like 19.

00:33:45.320 1950, 1950.

00:33:46.680 Oh, that's like a two grand coin?

00:33:49.360 Yeah. Yeah. There's two coins here. Yeah.

00:33:51.820 Have you ever seen the videos?

00:33:53.360 Okay. Cause this just put a lot of context. Have you ever seen those videos where they ask, do you want like a gold coin?

00:34:02.480 Do you want a gold coin or do you want like a Coca-Cola?

00:34:06.940 Yes. Yeah. I have absolutely seen those and I, I die laughing because they always choose the Coca-Cola over the $2,000 coin.

00:34:16.720 Yeah.

00:34:17.060 Wow. That's a really bad choice.

00:34:18.980 Yeah. Yeah. And one of the videos that it's, it's actually this coin, it's the Canadian Maple Leaf coin.

00:34:24.000 You can't really see it, but the guy says, I don't want that.

00:34:27.820 That's a Canadian coin.

00:34:29.420 Why would I want a Canadian coin?

00:34:31.480 And the guy says, but it's gold.

00:34:33.580 And he goes, no, I'll just take it.

00:34:37.780 Yeah. It just, it's, it that's, and that's what I was saying earlier about how young people just don't even want to think about investing.

00:34:45.860 They don't even, they're scared of it. And I think this is honestly, this generation of, of younger people is the first generation.

00:34:53.920 That's probably not going to end up better than their parents. I think it's the dynamic.

00:34:59.080 It's really.

00:34:59.480 And so because of that, because they know that it's, they're a little behind the eight ball, just because of everything that's happening in the world, they're sort of afraid to kind of ask questions and try to, and really try to get out from under that.

00:35:14.600 But also with that, for people that are willing to ask questions and are willing to get out there, there is tremendous opportunity to make wealth today too.

00:35:25.280 Because I think that for more people in their twenties that are afraid, there's obviously going to be some opportunities for people that kind of push through and, and take a leap of faith and start asking questions at a young age.

00:35:37.360 So if I, if I bought, if I said today, so if I wanted $5,000 of gold, I'd get two coins, right?

00:35:44.340 Two and a half.

00:35:44.640 Get two coins. Yeah. Or, or you could do, and listen, these are one ounce coins.

00:35:47.920 And so there's, you know, you could do different sizes of coins, but yeah, you'd probably get this and then you'd fill it in with some silver.

00:35:53.680 That's typically what people would do. You'd fill in the rest, you know, the thousand dollars left over in, in silver coins, you know, that are trading in the, you know, 27, $28 range.

00:36:04.340 You'd fill it up there.

00:36:05.520 So how, like, do I make money over time or does it stay that, how does it, so if I had $5,000 and then 5,000 gold, like, how does it.

00:36:16.740 So, yeah, in essence, you're buying power, like, this is the scenario that you should think about.

00:36:22.360 If you go back a hundred years, okay, so you had, let's say it was, it was 1922 or 1923 and you had this gold coin, a one ounce gold coin.

00:36:31.460 So in the U.S., gold, they had $20 gold coins called St. Goddard's.

00:36:36.520 So a $20 gold coin a hundred years ago would buy, you could go out, a guy could go out and buy a suit.

00:36:42.740 He could go out and buy groceries.

00:36:44.440 He could buy flowers for his wife.

00:36:45.720 He could take her out to dinner and he'd still have money left over with this one gold piece, right?

00:36:51.420 Today, a hundred years later, $1,900, $2,000, you could still buy a suit, still buy groceries.

00:36:59.360 You could still take your wife out to dinner.

00:37:01.100 You could still buy her flowers.

00:37:02.300 So you could still, the buying power a hundred years later is still the same, maybe more, right?

00:37:08.480 Obviously you could buy more today with $2,000, but the idea is in five or 10 years that these gold pieces will be able to keep up with the same standard of living.

00:37:18.380 Whereas if you had $2,000 in actual dollars from even 20 years ago, for instance, you know, the average rent, let's just say in Los Angeles 20 years ago was $650 for a one bedroom apartment.

00:37:36.080 Today, that one bedroom apartment in Los Angeles is going to cost you between $2,000 and $2,100.

00:37:42.540 So if you just left your money in cash, you're not going to be able to buy, you know, the same value in that one bedroom apartment.

00:37:51.620 That gold piece that you bought in 20 years ago in 2001, you bought it at, you know, $270, $280 an ounce, and now it's trading at $1,900.

00:38:02.300 So that gold piece has gone up significantly, almost 10 times in the 20 years, and the value of your currency, your paper money has dropped significantly so that you can't even afford to live in a one bedroom apartment.

00:38:17.740 So if you sit in cash over time or any fiat money, you're always going to lose over time.

00:38:24.340 And so basically, there's going to be this big crash soon where the, you think anyways, but the, and it seems like the interest rates are predicting.

00:38:35.820 So there's going to be a crash of like the housing market, maybe investments and not Bitcoin, but Bitcoin's like up and down every month, right?

00:38:45.300 Yeah, Bitcoin, yeah, Bitcoin is interesting.

00:38:47.320 You know, I think Bitcoin's like any investment, like a cryptocurrency that can go up 10 or 20 or 30 or 50 times, you sort of have to throw it in a different investment category.

00:38:58.120 It's like you're high risk.

00:38:59.600 You're high risk, exactly.

00:39:01.540 You know, I'd say you'd put that in your higher risk.

00:39:03.900 So I don't, but your traditional safe investments, real estate, stocks and bonds, gold and silver, I think people really have to look at the dynamics of what's going to happen over the next five years,

00:39:14.600 and really make sure that they're invested in the right areas and they're looking at safety and also not being afraid to take some money off the table and to get into different investments.

00:39:25.120 Because I do think it's going to be rocky for the next, you know, I think for the next five years, the markets are going to be pretty rocky.

00:39:32.020 And I think we're going to see pretty flat growth in most of the equity markets.

00:39:36.120 And I think real estate is going to have a lot of trouble too.

00:39:38.000 So how much in savings should people have before they invest in gold?

00:39:42.160 Like how many months do you think?

00:39:43.720 Yeah, I think you want to have at least three months saved when you're talking about it.

00:39:48.960 A lot of financial advisors will tell you six months.

00:39:51.840 But I think, you know, somewhere in that range of three, six months range, once you get to that moment, you know, you should be looking at investing anything above that.

00:40:02.180 You know, the good thing right now that, you know, obviously there's a lot of stuff that's down.

00:40:06.520 But the good thing right now is that most banks are paying between four and 5%.

00:40:09.520 So you're actually getting a little bit better return in the banks than you were before.

00:40:13.520 I mean, you know, you go back three years, you're making 0% or half a percent.

00:40:17.440 So that's that savings crunch of three to six months.

00:40:20.380 You can actually make a little bit of money now, which is great.

00:40:22.360 But anything beyond that, unless you're saving towards some kind of larger investment or you're saving towards a business, you probably want to have that working in some kind of investment out there in the markets.

00:40:34.760 Okay.

00:40:34.960 So three to six months, roughly, and then you can invest in gold.

00:40:39.840 So if someone wants to invest, how do they do it?

00:40:43.220 Like what's the process?

00:40:44.440 Yeah, if they call, so with Noble Gold, we're actually sort of gone the opposite way of where a lot of businesses, we actually talk to people on the phone.

00:40:54.180 We have people on the phone that you can talk to and walk you through the process.

00:40:57.140 I know everybody's gone digital and app and all that stuff.

00:41:00.360 But we believe that when you're building a relationship and you're buying something, you know, of significant value, you're going to want to talk to somebody.

00:41:07.440 So you can always call Noble Gold Investments, talk to a live person.

00:41:11.160 They're going to give you a lot of information in a no pressure environment.

00:41:14.820 You can go to our website at noblegoldinvestments.com.

00:41:18.360 So any of those two ways is the best.

00:41:20.080 But my recommendation is to call, have them send out the information, ask a lot of questions, and then start to build some rapport with somebody over the phone.

00:41:28.340 So you start to get more comfortable with it and feel that you're, you know, working with someone that you like.

00:41:34.240 And then you can get a lot of your questions answered in a timely manner.

00:41:37.940 And do you get like your own agent almost?

00:41:40.620 Like salesperson?

00:41:41.120 Yeah, you're working with, yeah.

00:41:42.360 Everybody has their own customer service person.

00:41:45.040 They work within teams.

00:41:46.480 So if somebody's, you know, out of town or sick or whatever, there's always a backup person to that person that you have.

00:41:51.660 But yeah, you're going to build a relationship with somebody there.

00:41:54.580 And you're going to like, you know, these are friendly people.

00:41:57.640 These are all people that buy and own gold and silver.

00:42:00.980 So they're not, you know, this is stuff that they believe in and they own.

00:42:05.120 But yeah, I think you're going to find that people are really nice, really interesting.

00:42:08.220 And I want people to check out our reviews.

00:42:10.640 I mean, I know you did before you started working with us.

00:42:13.040 You know, you checked us out, make sure we were okay.

00:42:15.360 We want people to check out our reviews to make sure that, you know, they see something that they like.

00:42:20.500 And we urge people to go out there and check out about Novo Gold Investments.

00:42:24.280 And then basically, then you buy the gold and they'll send it to you.

00:42:28.560 I'm just walking through because for the average person, yeah.

00:42:31.620 Yeah, so all this gold and silver here that I have, we can send directly to your doorstep.

00:42:35.680 Or if you don't want to hold it, for whatever reason, we can store it in a depository for you.

00:42:40.080 Oh, okay.

00:42:40.520 Oh, so you can put it in a depository.

00:42:42.120 Cool.

00:42:42.360 Yeah, yeah.

00:42:43.080 And it's in a segregated account.

00:42:44.980 And basically, they check it and they shrink wrap it and then they put it on your own shelf.

00:42:49.620 So it's all segregated.

00:42:51.300 So you'd have your own gold and silver depository.

00:42:53.460 If some people travel a lot or they don't want to have it in their house, safety reasons.

00:42:57.300 So we can do that for you also.

00:42:59.340 But typically, most people get some gold and silver to their doorstep.

00:43:03.520 Which, so you should always pick the coin, not the coat.

00:43:06.960 Yeah, I mean, you can do a little bit of buy.

00:43:09.940 You can do it either way.

00:43:11.980 It's all preference.

00:43:14.280 Have you ever thought about doing that at like, like for a marketing thing?

00:43:18.320 I think that'd be hilarious.

00:43:19.980 What?

00:43:20.340 Doing it?

00:43:21.180 The, do you want the coin or the Coke and see like on college campuses?

00:43:25.380 I haven't done.

00:43:28.720 Because I don't know if I could hold a straight face, frankly, if I interviewed someone and I had a gold coin worth $1,900 and I had a Coca-Cola and they didn't take the, I think I would be mad.

00:43:38.340 I think I've actually, I'd probably get mad at them.

00:43:40.800 And so that's why I found that route.

00:43:44.760 So, so what are the most important things for investors to keep in mind?

00:43:49.640 Well, I think with any investment, there's obviously risk.

00:43:51.940 So you have to look at everything.

00:43:53.200 There's some level of risk in every investment that you're going to get into.

00:43:56.560 So you have to keep that in mind.

00:43:58.100 And I also think you have to know what kind of investor you are.

00:44:01.140 There's investors that, that love risk.

00:44:03.140 I'm a more risk adverse.

00:44:04.800 I'm, I'm willing to take, as an entrepreneur, I'm willing to take on some more risk.

00:44:08.700 So I have some things that are, I'm doing riskier things like Bitcoin and crypto.

00:44:13.260 And then I have other things that I just want really safe.

00:44:15.580 And I, and that being said, all the things that we talked about, stocks and real estate, I own all of those things too.

00:44:21.120 But I, as time goes on and as things shift in the year that I'm investing and I'm putting money out there,

00:44:27.080 I look at what I think the best opportunity is for the next three to five years.

00:44:31.820 And so I think ideally what you have to do is you have to understand what kind of investor you are.

00:44:36.340 And then I think the number one thing you have to do is really spend some time educating yourself and reading and not thinking that somebody else is going to do it for you.

00:44:45.740 Because the days of people working in a company for 40 years and they have, they have a retirement or a pension or whatever.

00:44:52.640 And that's going to, you're just going to ride off into the sunset and everything's going to be fine.

00:44:56.380 Those days are, are long gone.

00:44:58.240 People are living and it's not because companies don't want to do it.

00:45:01.120 It's just that people are living, you know, the average age was 71, you know, 70, 30 years ago.

00:45:07.720 Now we're talking about a hundred, 105, 110.

00:45:10.780 I mean, nobody could calculate an extra 35 years of living into a retirement plan.

00:45:17.080 So I think you have to not be afraid to take the bull by the horns and really get out there and start diving into some information and learning about what's available.

00:45:26.920 Is that common? People are living to a hundred?

00:45:29.160 I think people, they say people born today are going to live to, to a hundred.

00:45:34.320 Oh my God. I hope not. That's like, that's like so long.

00:45:39.260 It's a long time.

00:45:40.860 No, it's a long way to go.

00:45:42.280 What are, what are the biggest mistakes you see investors make?

00:45:45.380 Um, I think the biggest mistakes investors make is, well, I think people that invest in gold, the biggest mistake is that they fall victim to the, uh, too good to be true scams.

00:45:57.520 There's a lot of companies out there in our space that are offering free $5,000 or $10,000 in silver and gold.

00:46:04.760 And people think it's actually free.

00:46:07.680 Um, nothing is free in business.

00:46:10.520 There's no freebies.

00:46:12.460 You know, if we offer one coin for, you know, two to $300, that, that is legit.

00:46:17.380 But a company is offering $10,000 in free silver.

00:46:22.000 It's like, what's the, what's the hook here.

00:46:24.820 And it's because those companies can charge, you know, 30, 40, 50.

00:46:29.000 I've even seen 60% commissions.

00:46:31.240 So I think the biggest mistakes is that people fall victim to these free scams.

00:46:35.760 And you really have to be careful, uh, about doing it.

00:46:39.820 And it also goes back to what I was saying earlier.

00:46:41.480 The biggest mistakes people fall for is that they think people are going to do it for them.

00:46:46.040 You have to ask questions.

00:46:47.460 Even if you hire a financial advisor, you have to question them, you know, every year, every quarter, you know, what's going on?

00:46:53.580 What is this fee?

00:46:54.660 What's happening here?

00:46:55.960 You can't be afraid to go in and ask those questions.

00:46:58.600 And so I think the biggest mistake people make is that they, they don't ask questions and they're not aggressive with their, with their finances.

00:47:06.380 So how do you vet a financial advisor?

00:47:08.640 How do I battle a financial advisor?

00:47:10.020 No, not battle, vet.

00:47:11.360 How do you vet?

00:47:12.060 Oh, um, well, I, I think like seeing their track record, you know, someone that's had a 10 or 15 year track record and seeing the returns that they've had, getting some ideas of where they think the future is going to go, um, learning about their fee.

00:47:26.620 I think the fee structure, a lot of times people don't realize that there's financial advisors that'll charge one, one and a quarter, one and a half percent.

00:47:33.960 But then on top of that, if they're recommending mutual funds, the mutual funds can have two to 3% in fees in there too.

00:47:40.300 So you're talking about in some worst case scenarios, you can have three to 5% of an annual return just taken off the table.

00:47:48.280 So I think those are things you got to really dive into.

00:47:50.900 Um, there's financial advisors that just charge a one-time flat fee and they'll, you know, you'll pay them four or $500 and they'll go, okay, here's where you should go for the next five years.

00:48:00.040 So that might be a better fit.

00:48:02.200 Um, but really diving into the fee structure and then looking at past performance, I think is your, your best gauge.

00:48:08.120 And especially over the last two to three years, if you have a financial that had any kind of decent return, um, then, you know, they've probably done pretty well overall because the last two to three years have been really, uh, difficult in the markets.

00:48:20.240 Isn't that like, aren't they not allowed to show their clients finances though?

00:48:24.320 So how do you know?

00:48:25.600 But they can show, they can show the returns of the different, uh, investments that they've been in, that they've chosen.

00:48:30.660 Yes, you're right.

00:48:31.580 Oh, okay.

00:48:32.400 I was like, yeah, but they'll take a, they'll take a, a portfolio of someone that they invested.

00:48:36.440 They can show the different assets that are in there and then they can show that and put that in front of you.

00:48:40.060 But yeah, you're a hundred percent right now.

00:48:41.780 They can't obviously show your, uh, portfolio and there's, you know, privacy laws against that.

00:48:46.660 So what's a normal like percentage that for, you said the percentage mutual fund fee?

00:48:53.460 Yeah.

00:48:53.940 I mean, there, there, what, what kind of returns?

00:48:56.000 I think the returns that people are looking for today, I think you gotta be making over time.

00:49:02.820 You want to try to hit close to 10% over time.

00:49:04.960 That's like a typical, that's the number that you really need to hit.

00:49:07.980 Because if you think inflation right now is five to six, maybe 7%.

00:49:12.120 If you're not hitting 10 after all the fees, you're probably not in a profit zone.

00:49:17.900 So that's, I think that's the number that they've, that they try to hit.

00:49:21.000 And if you look at the stock market over time, it has hit that many of the years.

00:49:23.640 Um, but I do believe we're in unusual times.

00:49:26.600 So I don't know if we're going to be continue to hit those returns for the next three to

00:49:30.480 five years.

00:49:30.960 But yeah, you're looking at a 10% as a number that most people want to hit.

00:49:35.200 That would be the goal.

00:49:36.060 And what's like a bad one.

00:49:37.240 What's like a don't ever work with this guy.

00:49:40.220 Yeah.

00:49:40.480 There's, I think anything that you're looking that's in the one to 3% range, uh, unless you're

00:49:47.160 just in strict preservation mode and you're like, you know, near the end of your life

00:49:53.020 and you're just trying to make sure that you don't lose money.

00:49:55.780 Um, that's a totally different strategy, but for someone young like you or someone that's

00:49:59.820 in the growth for me, you know, I want to hit that 10 to 12% number yearly if possible,

00:50:05.360 because I know that those are the numbers that I need to hit because there are going to

00:50:09.080 be years that I'm going to be down, uh, you know, I'll be negative five to 10%.

00:50:13.560 You know, if you go back in, you know, 2001, there were some pretty negative years, uh,

00:50:18.240 2022.

00:50:19.300 So you need those 10 to 12% numbers in the positive years to, to make up for the negative

00:50:24.620 years that you're going to have in a, you know, 20 to 40 year lifespan of investing.

00:50:29.400 Well, thank you for coming on the channel today.

00:50:32.160 I feel like I learned a lot.

00:50:33.320 Girl, thank you.

00:50:34.200 I appreciate you, uh, you having me on and it was fun and, uh, hopefully we'll do it

00:50:38.560 again, uh, very soon.

00:50:39.940 Yeah.

00:50:40.340 I think it'd be an interesting series to like have like a finance person talking about

00:50:45.760 all this stuff going on.

00:50:45.860 Yeah.

00:50:46.120 Well, and I will tell you, you've solved the question.

00:50:48.280 So I appreciate, obviously you've done your homework.

00:50:51.300 So I appreciate that.

00:50:52.560 If anyone wants to dive into Noble Gold Investments, they can check out our website or call us at,

00:50:57.620 uh, 877-646-5347.

00:51:00.540 All right, guys, um, make sure you like the video on your way out.

00:51:05.040 Give him a call today, subscribe to the channel and I'll talk to you next time.

JustPearlyThings - October 07, 2023

The Meaningless Inflation Of Currencies ｜ Collin Plume @NobleGold

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