The Meaningless Inflation Of Currencies ｜ Collin Plume @NobleGold
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Summary
In this episode of the Just The Facts podcast, I have a special guest, Colin Plume. She is the CEO of Noble Gold and founder of MyDigitalMoney, a crypto-trading platform, and a serial entrepreneur. In this episode, we talk about why gold is a great investment and why Bitcoin and other digital currencies are not.
Transcript
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What up, guys? Welcome to the Just Pearly Things YouTube channel and welcome to The Sit Down.
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Today, I have a special guest and partner of the channel, Colin Plume. Welcome to the show.
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Nice to see you. So you're the CEO of Noble Gold.
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Correct. Yeah. And a few other. I'm also the founder of My Digital Money, which is a crypto
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trading platform and sort of a serial entrepreneur. But today, I think we're going to talk mostly
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about commodities, gold, and other things. Yeah. I'm really excited for this because us
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as women, we're really bad with money. So I was like, this is great. This is like an improvement,
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you know? Yeah. Well, you know, it's funny. A lot of people say, you know, with Noble Gold,
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they always ask, like, are you appealing mostly to men? But it's a pretty big number. Almost 50%
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of our clients are women. No way. Yeah. And I don't know if it's, you know,
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you're dealing with over time. You know, our average client is, you know, 45 to 65, 70.
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Okay. Yeah. You'd be surprised. A lot of times it's the husband doesn't even want to talk about
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it. And he just says, yeah, I want to buy, get on the phone with my wife. And then she handles,
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you know, 95% of the transaction. So, you know, I, you know, maybe it changes over time or,
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you know, I don't know how it is, but I think in general, young people don't want to talk about
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finances as much as, as they should. So why gold? Like what makes gold different than,
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you know, cause I just feel like as a young person, we're constantly like spewed all this,
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like there's Bitcoin, there's gold. So like, how do you pick?
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Yeah. Well, I think you have to look at gold being around for, you know, 5,000 years. It's one of the
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oldest assets there's ever was. And it was, you know, it's the real true currency is gold. You
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know, today you're on the Euro, you're on, you're on the pound, you're on the dollar, you know, all
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these currencies are just being inflated into nothing. You know, during the pandemic in the U.S.,
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they expanded our money supply by almost 18% for two years in a row. So now we have this awful
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inflation that most people believe isn't going away for a very long time. And this has happened
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all over the world. Yeah. They just inflate these currencies. They kick the can down the street.
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So gold is something that you just can't, you can't do that with. It's, you have to mine it.
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You have to find it in the ground. There's a limited supply of it. You know, the supply only grows by
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about one, one and a quarter percent per year. So it's a true, real fungible currency that has been
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around a long time. And it just has, you know, tons of different uses in many different industries,
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especially jewelry. Obviously, that's the one that people talk about is jewelry, but
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it's used at heart monitors and cell phones. And there's a lot of other uses for gold out there.
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I keep hearing about how, do you think the dollar and the pound are going to crash completely?
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Yeah. I mean, that's, I think that's why they're talking about us moving on to these
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digital currencies. I think they, they want, they know that eventually it is going to come. So I think
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the story that's going to come out there is that, you know, now we're going to digital currency. We're
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going to a new currency because the dollar has lost so much value and it's, it's happening all over
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the world. People don't want to use the dollar. Countries don't want to use the dollar. The brick
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nations are all moving away from the dollar. So it's very common for people to not want to use the
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dollar right now. So I do think there will be a transition of moving away from, you know, these,
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these kinds of currencies into, into new currencies. So what's the difference? Because, um, I think of
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like my dad, my dad kind of sounds like your target, like the, the way you said between 45 and
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70. Yeah. Yeah. That's my, my dad. Um, and he sold like his company, but he mostly did
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properties and then he did investments. Like what's the difference between investments, properties?
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Yeah. So, I mean, so gold is, is considered an alternative investment, um, today, even though
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it probably shouldn't be, um, a lot of people put do, you know, if they sell a company and they
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have a big windfall, they'll, they'll move into real estate. They're all the moving to stocks and
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bonds. Those are the kind of traditional ways to go. But like right now, for instance, if you look at
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real estate, you know, in the U S is a big, big question mark, you know, real estate in the U S is,
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is very difficult to move and has, is we're seeing a dramatic pullback, uh, in, in some of
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the values across the country, people aren't able to sell. So the, the, the pro of real estate is
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similar to gold is that there's a limited supply. If you're buying it in a specific area, you know,
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if you're in a city that people want to live, people will typically move there. Um, but also the
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downside of it is liquidity. Right. And so, you know, if you're in properties right now, so for
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instance, in the U S there's, you know, all these huge companies, these REITs bought massive office
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buildings all across the country. Uh, and actually I was in Phoenix. I toured a number of these office
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buildings for a business I'm involved in. And there is just millions of square feet of vacant
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office space that people are never going back to. They're never going to go back to work in that
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environment the way they used to. So, you know, there is that inherent risk of getting into the wrong
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sector of real estate. And then maybe the investment is difficult to sell and the returns are, are
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harder. So, you know, that's one area. Then the equity markets stocks right now, the equity markets
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have been really rocky because nobody knows where interest rates are going to go. We don't know where
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inflation is going to go. So we've had a very bumpy road in, in, in the stock market over the last
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two years. And they're predicting, you know, the CEO of BlackRock predicts that we're going to see
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interest rates in the 5% range for the next five to 10 years, that could be a very bad sign for the
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equity markets because companies really have been using this cheap money. I mean, basically people
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have been using this three, 4% money to, to kind of keep growing their business and growing and buying
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houses. And if, if we stay above 5% or higher, that could really slow down that, that engine of,
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of the economy that people want to, to keep going. So you think there's going to be a crash? Like,
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do you think it'd be similar to like 2007, 2008? Yeah. I mean, they, here's the thing right now,
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they've predicted that we're, and I believe we're in a recession, even though that some of the typical
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indicators in the U S that, you know, unemployment is still low. But if you look at the other factors
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out there, a lot of the jobs that people want 65,000 and above those, those companies are not
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hiring. We've seen a general slowdown of the economy in many different sectors. GDP is very low.
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So, so I think unless we see some kind of black swan event next year, we're going to be in a lot
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of trouble in this country and they're going to have to keep interest rates really high. And so
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that's going to keep this slowdown of the economy happening. So I think it's going to be very sluggish
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for many years. And then, you know, just looking at inflation, I don't know, you know, what you're
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buying day to day or what you're looking at, but it just seems like it's out of control. Yeah.
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Yeah. I mean, gas prices here in the U S you know, we're looking at six, $7 a gallon. Whereas
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if you go back five to seven years ago, we were in the two to $3 range. So how do people
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afford to go on a vacation or get to work or to do all the things that they used to be
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able to do when their salaries have not doubled yet? The cost of gasoline and all of these day
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to day things have gone up significantly. Food costs have gone up 20 to 30% energy costs,
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the same thing. So to go back to what you're saying about gold, the reason people like gold
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is because it's an asset that they can hold. You know, these are assets that we ship to people.
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They can actually hold these assets. It has a limited supply out there. And if you look at
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today's prices, it's very, very affordable relative to where a lot of people think the price
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of gold and silver can go. Is gold typically more of like a long-term investment? Cause
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I, cause I think of like, if I get a paycheck, right. And it's, you know, let's just say it's
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$5,000, right. Are you able to put that into gold and still spend the gold or is it more something you
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put away and like leave there for a long time? Yeah. I mean, I, you can, there are states here
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in the U S that are accepting gold for taxes and payments like Utah and the state of Texas is
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actually trying to pass a law where they'll have a gold back currency. So there are places that do
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accept some gold and silver, but typically this is kind of a sleepy investment. It's, it's one of
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those investments that you buy and you hold for, you know, five, 10, 15 years, and you want to just
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buy it and just sort of forget about it. And over time it will go up. It's not an, this kind of
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investment. It's not a kind of an investment that you're looking to trade quickly. Other investments
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are investments that you want to be more active with, but when you're buying gold, it's, you have
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a chunk of money, you want it to be, you know, a good hedge against inflation. You're looking at,
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you know, kind of an insurance policy kind of buy. So it's typically a safer long-term investment,
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but yeah, absolutely. If you have a paycheck and you want to allocate some of it to gold, people do
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that. But as I said, typically our buyers, you know, 45 to 75, they've, you know, built their nest egg
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and they're trying to just, they just carve off a piece. They pull some of it out of the stock
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market and they just want to get into something that's a little safer. Okay. So it's typically
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more of like a long-term investment. Yeah, that's typically, I mean, you can see quicker gains and
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if you need the money, you can always sell it. You don't have to stay in it. You're not locked into
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it in any way, but yeah, typically if I, you're looking at a five to 10 year hold is, is what you
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should be considering when you're buying this investment. And you said you have like a Bitcoin
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trading company too. Yeah. My digital money is our, is our crypto trading platform. So for anyone
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that wants to get into crypto, you can do it in your IRA. And, you know, we were talking about,
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you know, the thing about crypto that's hard sometimes is that people don't, you know, they
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don't want to remember a code or they don't want to have their own wallet and they don't want to do
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all these, they lose their wallets. There's the famous guy. I think he's somewhere in Europe. He
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actually lost the Bitcoin and then he was trying to find it in the land. Do you know the story?
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I've heard, I've heard, I lost my, I lost my hundred dollar Bitcoin thing I got at the
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convention and I, that hurt my soul a little bit. I don't like wasting money, you know?
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Yeah. And they were, you know, they were probably thinking like, if we give this a hundred dollar
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Bitcoin out to like a hundred people, 85 are going to lose and we're never going to have to pay out
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on this code because, you know, we're not set up anymore to, to be able to, you know, just have a
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code and just have it all set up. So my digital money, we take care of all that, the paperwork,
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all the IRS reporting, all the tax reporting. Really? Yeah, we do all that. And everyone,
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anyone in the U S that's looking to, to, to get a crypto account, they don't want to deal with any
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of that. My, our company does that. And we do that on the gold side too. If you're doing it in IRA and
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gold, we do all the tax reporting and everything there for you too. So it's all, it's all taken care of.
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So would you say like, because when you get dollars or pounds that that's inflating like crazy,
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but you still need to spend money day to day. So do you recommend that people get Bitcoin to like
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spend day to day or keep spending in cash? Like how do you differentiate that?
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Well, I would say the, the major issue with Bitcoin is, is the volatility.
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Yeah. Looking at a situation where it's not stable enough as a currency that you want to be using it
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day to day, in my opinion, because you're, you're really looking at a situation where
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it can move up and down 10, 15, 20% pretty easily. And so that's not stable enough as a currency.
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Now the dollars and the pound are the same, they're losing, you know, anywhere from five to
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8% per year, but you got to have enough to transact and live on. So what I always say is you
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should have enough in, in currency to survive day to day, but everything else you should be investing
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in something that can hopefully achieve a higher return than inflation. And depending on what you
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believe inflation is anywhere from five to, you know, 10%, depending on what numbers you're looking
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at, you got to be looking at investing. And I think, you know, talking to young people about this
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is that they, they have this sort of hoarding mentality with currency and cash, and they think
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they should be sitting a lot in cash. And actually, even at a young age, you should be allocating in your
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twenties and that you should be allocating a little bit into investments monthly as continuously as
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you can, because the earlier you start to build those habits of, of setting money aside and getting
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returns, the easier it gets when you start to hit an age, when you're getting, um, when you're making
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the kind of money that you do later on in your life, you know, most people, their earning potential
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sort of hits their high number in 35 to, you know, 45, 50 range. So building the habits in the early
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twenties, even if you're only putting maybe 50 or a hundred bucks a month away or something to that
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number later on, when you're making bigger income, you've already built that habit. So you'll go from
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saving a hundred dollars a month to a thousand or 2000, whatever you can afford. And then you're able
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to sort of get to the point where you can retire, uh, safely. It's so interesting because
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entertainment is such a bubble where people just like get like, like, it's like the opposite,
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like they're earning potential, like ends at 30, you know? Yeah. I mean, yeah. I know that's not,
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that's not the normal, like life cycle, but I was just thinking how it's like the opposite in
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entertainment with like streamers, you know, entertainment is like, yeah. And, and professional
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athletes, the same money when they're young and, you know, it's, and it's sort of a shocking,
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you know, they get that shock, like that first good check, or they're starting to earn some money.
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And, you know, they think, excuse me, that potentially that could go on forever.
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Yeah. You know, as we know, we have a writer strike, actor strike, like it gets, it can get
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tougher over time. Um, but yeah, no, there's, you know, those two industries are really interesting.
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I actually have a lot of friends that are agents for, for professional athletes and they always talk,
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try to talk to them early about investing and money. And, you know, they sign a $5 million deal and
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they get, you know, 5 million and then, you know, two, two, two and a half million goes to taxes and
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they got to pay their agent. And this, so 5 million goes down to kind of like a million pretty fast.
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And you'd be surprised. A lot of these guys can blow a million bucks.
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That's what my dad told me. He said the same thing. He was like a million isn't as much as you
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think. And I know like the average person's going to like, be like, ah, Pearl, you're so privileged.
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But like, but I, when I, when he started to break down, like the way people spend money,
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um, and how quick they can blow it, he's like a million dollars in their twenties. They'll blow it
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by like 10 years. Oh, easily. Yeah. I mean, you hear about some of these athletes, uh, there's,
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you know, famous like Mike Tyson, for instance, uh, the boxer, he, he earnings 300 million. And when he
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went to jail the second or third time, he was almost completely broke. He blew 300 million.
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Yeah, absolutely. Houses and cars. And, you know, I mean, listen, he, he lived it up. I can tell you
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that right now. He was living a fun life. I mean, the stories that I've heard are pretty, uh, pretty
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elaborate and, and, uh, he definitely lived for the moment. Um, but yeah, when you, when you make
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300 million in, in career earnings of boxing, you should be okay. But somehow, you know, he's got a
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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
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career, but it's unusual. Usually people can't, uh, but he, he was somehow able to reinvent himself
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and, and, you know, become a, a star and use his celebrity in a way to make money. Yeah. It's so
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interesting. Cause I'll see, I'll see people like online and my, my dad's, um, he's kind of, I call
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him like the cheapest, like successful guy you'll ever meet. He's very cheap guy. And, um, and I'll be
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like, dad, how do they afford this? And he'll always tell me they can't, they do not, they can't
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afford it. Yeah. Yeah. There's a famous comedian, uh, Sebastian Maniscalco who does this, he has a
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skit and he does like, um, he talks about when he, his dad walks around his house, he has to tell
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him the parent price because like his dad can't believe how much everything costs. Basically he's
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like, you know, he'll be like, you know, what's that TV? And he'll lie to him and tell him it's
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like $200. And his dad is like, $200 for a TV. That sounds just like my dad. Yeah. That's, and
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that's true. Like you can't tell your parents the real price of anything nowadays. Cause they're
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absolutely blown. Um, so it's, it's, it's funny. Um, I know we were sort of, we broached the subject
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and being a year out in the UK. Um, but one of the biggest, uh, you know, people always talk to me
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about central banks buying gold. One of the biggest reported blunders, uh, for gold was, uh, from, uh,
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99 to 2001, Great Britain sold basically 90% of its gold reserves. And it's sort of a blunder. And I,
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and at the time I think it was interesting because gold had sat pretty dormant from 1983, 84
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to 2000, it didn't really move. And so they had all this gold, you know, obviously Great Britain
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has tons of gold and, you know, they were always having this goal and they thought it was safe and
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they, you know, held it. And then basically they started selling it in 2001. And then within six
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months of them selling it, gold started to go up 20% per year for like nine years or eight years in a
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row. Um, so it was sort of reported one of the, the, the biggest, uh, blunders from a prime minister.
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Um, yeah. And then over time, I'm sorry, who was that? Who did it? Brown, I think was the prime
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minister at the time. I don't know. Maybe you know more than me, but, uh, but yeah, it's, it's
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interesting, um, that, that sale happened and just, you know, obviously horrible timing. Uh, and, and it
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shows you can't really predict the market too much. And if you have a stable asset in your reserves,
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it's probably good to keep it. And now central banks have been buying like crazy. The last two
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years, China, Russia, uh, you know, Brazil, you go down the list. These countries are buying tons
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and tons of gold and they're putting it away because of exactly what we talked about earlier.
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They don't have faith in the dollar. They don't have faith in the Euro. They don't have faith in
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any kind of paper currencies. And so they're divesting, getting out of us bonds, getting out
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a lot of that money trap that they've been in for a long time. And they're going into, you know,
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the yellow metal to protect themselves. Um, so it's, it's a unique time in our history. I think,
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you know, you look at what's been happening globally and, and, you know, overall fear of the
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economy and things that are happening and people are fleeing some of the traditional real
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estates and stocks and bonds. And they're diving into, uh, into the yellow metal, uh, to, to protect
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themselves. Okay. So you said that the stock market is a casino and it's too risky to invest in.
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Well, I, I, I think it depends on your risk level. I think, I think a lot of people are,
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you know, depending on where they're at in their retirement journey or where they're, how close they
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are. I think you have to be cautious, especially right now, because there's so many negative factors.
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The stock market, in my opinion, has really, a lot of it's been built on low cheap money that
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companies are able to use to grow. And if we are going to have interest rates stay in the five to
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7% range, uh, U S mortgages, uh, uh, yesterday hit the highest it's been in almost 23 years and 7.4%.
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So that means that, you know, two years ago, a U S homeowner could have got a mortgage at 3%,
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some lower that same mortgage on the same house. People are buying today is 85% higher.
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Wow. So I just think right now, and there's so many companies across the country that are,
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that are predicated upon the real estate market continue to move and people buying houses.
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And so I just believe that right now, until we figure out what we're going to do with inflation,
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until we get rates in a more normal pattern where we get them down, maybe they don't go back to three,
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but they go maybe in the four, four and a half percent range until those things happen. I think
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the stock market and, and, and real estate are going to be pretty rocky. Do you think that they'll
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ever go back to the gold standard for currency? It's interesting. Yeah. I mean, I think that it'd
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be hard to go to a full backed, uh, gold standard, but in some ways it'd be so great. You know, we just
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had a potential government shutdown, uh, you know, a few days ago and it was averted over a weekend deal
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over, you know, tea and crumpets or whatever they were eating. And it's like, you have these
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situations where, you know, the government has, has no real sense of how to balance a budget. I mean,
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in the U S it's, it's literally every year they're raising our debt ceiling. Now we're at third,
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the U S is at $33 trillion in debt. Um, that number is just, it's, it's mind boggling. And so,
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and because they don't have any real recourse to, to, to stop it, like, cause we're the world's
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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
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-
00:30:08.960
Yeah. And what happened? That stock went, and then you'd think to yourself,
00:30:15.740
Right. That's really, you would never expect them to put a gay guy on there.
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.
00:33:19.200
My gut is that they're not real gold and silver, but if they are, you may want to check.
00:33:23.080
I would just say you should check it out and make sure.
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.
00:33:35.800
Well, this, so give me an idea. So these are two one ounce gold coins.
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.
00:34:18.980
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.
00:34:37.780
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.
00:34:59.480
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?
00:35:44.640
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.
00:36:05.520
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.
00:36:45.720
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.
00:37:02.300
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?
00:38:47.320
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.
00:39:01.540
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?
00:39:43.720
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.
00:40:34.960
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?
00:40:44.440
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.
00:41:20.080
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.
00:41:42.360
Everybody has their own customer service person.
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.
00:42:10.640
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.
00:42:44.980
And basically, they check it and they shrink wrap it and then they put it on your own shelf.
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.
00:42:59.340
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.
00:43:14.280
Have you ever thought about doing that at like, like for a marketing thing?
00:43:21.180
The, do you want the coin or the Coke and see like on college campuses?
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.
00:43:44.760
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.
00:43:53.200
There's some level of risk in every investment that you're going to get into.
00:43:58.100
And I also think you have to know what kind of investor you are.
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.
00:44:58.240
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.
00:45:10.780
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.
00:45:42.280
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.
00:46:12.460
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.
00:46:24.820
And it's because those companies can charge, you know, 30, 40, 50.
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.
00:46:47.460
Even if you hire a financial advisor, you have to question them, you know, every year, every quarter, you know, what's going on?
00:46:55.960
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.
00:47:12.060
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.
00:48:02.200
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?
00:48:25.600
But they can show, they can show the returns of the different, uh, investments that they've been in, that they've chosen.
00:48:32.400
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.
00:48:41.780
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?
00:48:53.940
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.
00:49:04.960
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.
00:49:26.600
So I don't know if we're going to be continue to hit those returns for the next three to
00:49:30.960
But yeah, you're looking at a 10% as a number that most people want to hit.
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,
00:50:19.300
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.
00:50:34.200
I appreciate you, uh, you having me on and it was fun and, uh, hopefully we'll do it
00:50:40.340
I think it'd be an interesting series to like have like a finance person talking about
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.
00:50:52.560
If anyone wants to dive into Noble Gold Investments, they can check out our website or call us at,
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.