00:00:53.000We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
00:01:58.000Yeah, well, and especially this week, I think that we've seen, you know, over the years when people would wire us money out of a bank, sometimes the banks would try to discourage them.
00:02:08.000They would tell the client as they walked in, they would tell, you know, are you sure?
00:02:16.000But I've had a lot of funny calls from clients where they said this is the first week that they bought gold from us that even the bank that they went to didn't discourage them to sending us money.
00:03:15.000And a lot of the banks today are struggling to find a decent return, especially ones that bought treasuries a year ago.
00:03:21.000But this collapse, I think, made no sense in that when they bought those treasuries a year ago, it didn't make any sense that they didn't take the lick back last year, sell some of it.
00:03:31.000Why would they sell 60% of what they had today?
00:03:34.000It really, it was the perfect storm for that bank.
00:03:36.000And there's six or seven other banks that are in a similar position.
00:03:41.000And we'll see what happens over the next few weeks.
00:04:29.000Why is that gold has had this stability regardless of different currency systems?
00:04:34.000Well, to go over your first analogy is when you're trading and barter, you want an item that during the transaction is going to hold its value over that transaction.
00:04:42.000So gold is the perfect item to hold its value over their transaction because as you can see over there, it's not going anywhere.
00:05:23.000And it's a great bartering instrument.
00:05:24.000And also, you know, when you look at our fiat system, the way it's set up is it's just, we're always playing a guessing game of when is a bank going to fail?
00:05:45.000So I think now people are saying like, I got to have some gold.
00:05:49.000I got to have some silver as just a hedge and be diversified because so many people, I mean, we saw these people over 250,000 running to the banks afraid and they just didn't feel comfortable.
00:06:01.000And listen, Biden said he, you know, there's nothing to worry about, but, you know, this is one big bank.
00:06:07.000If two or three other banks of this size or close to this size go under, do we have enough to cover?
00:06:25.000Noble Gold Investments, we've been in business only for seven years, but I've been in the space for almost 14 years selling precious metals.
00:06:32.000And because of partners like you and other partners we've had, we've actually, in the last three years, become the number one gold IRA company in the country.
00:06:55.000So I could say that because we've sent a lot of people your way and it's an overwhelming report because a lot of people say, oh, come on, gold guys.
00:07:02.000And that is kind of the reputation, right?
00:07:07.000And look, I say this, again, I'm not a financial wizard.
00:07:11.000The people that are financial wizards are actually idiots like Jim Kramer.
00:07:14.000But isn't it rational that when you have more dollar bills than you know what to do with, you kind of go back to the roots of value, which is gold.
00:07:25.000And we were talking about, you know, you want to buy things that have a limited supply and gold, the amount of gold that's mined, you know, 1%, a little less, a little more.
00:07:53.000They even know to get their money out of the banks.
00:07:57.000So I want to explore this idea of the fiat currency system.
00:08:00.000And again, if anyone wants to read, there's a fascinating book called The Creature from Jekyll Island, if you really want to get into kind of the, I don't want to say a conspiracy, none dare call it a conspiracy, but it's well written about meetings that happened right near Sea Island, Georgia in a place called Jekyll Island, where basically the Federal Reserve System, as we know it, was created.
00:09:11.000So everybody that sold, they sold it early, got like a 30 or 40% clip on what eventually they set the price of gold being, which was in the low 30s and in the early 1930s.
00:11:49.000Check it out right now, relieffactor.com, relieffactor.com.
00:11:55.000Colin, there's several topics here, but I do want to talk about the Silicon Valley Bank thing because I think it is an example of some of the deeper economic fissures that we're going to experience, living above the means.
00:12:07.000But the federal government comes in and they insure deposits up to any amount, basically eradicating the FDIC minimum.
00:12:13.000That sets a precedent where basically, again, I'm somewhat conflicted because they almost had to do that.
00:12:19.000I'm not to preserve the fractional banking reserve system.
00:12:23.000But if there's not going to be a cost for bad decisions or they're not going to follow the $250,000 guideline, then there is no limit.
00:12:31.000How much more can we take of the federal government just coming in and pumping in artificial money into the economy?
00:12:39.000And they only, before they went and did this, which was unprecedented, there's only $120 or $130 billion set aside for this kind of bailout.
00:12:48.000So anything like Credit Suisse or any of these other banks going would well exceed that number.
00:12:54.000So I think they did something that's unprecedented.
00:12:57.000And then if other banks, even smaller banks go out of business, are they obligated to come in and protect?
00:13:03.000That's the question I don't really understand and how they could do this.
00:13:08.000And the thing is, yes, I guess you could say they had to do it.
00:13:11.000But my argument would be that if this bank was really strong, like everybody said, it was actually a very strong bank.
00:13:19.000It should have been cleared up within the next few days.
00:13:23.000I think they just basically sent a message.
00:13:25.000They didn't want banks all across the country to have these bank runs.
00:13:29.000So I guess as an administration, you decide to do that.
00:13:32.000But to say that there's no cost is misleading because basically we're using money that we could put into somewhere else to bail out an asset or a bank that is not doing well.
00:13:44.000So we're buying assets that are depreciating.
00:13:47.000So there is always a cost when you do any of these bailouts.
00:13:50.000Any of the bailouts, they always have a cost.
00:13:53.000And I think we all pay for it as taxpayers.
00:13:56.000Carl Icon, one of the richest men alive, has some pretty sharp words about our economic health, and it's not good.
00:14:03.000He's giving a pretty negative prognosis.
00:15:06.000It's basically a big loan for green energy.
00:15:09.000And then it reports that it's going to bring down the cost of medical in some way, which anyone that owns a business knows that that hasn't happened.
00:15:18.000I mean, from the big healthcare bill all the way to today, I can tell you as a business owner, our health insurance has gone up anywhere from 10 to 20% every year as a company.
00:15:46.000Business owners, they want to find solutions.
00:15:49.000So by pumping money with this Inflation Reduction Act into green energy, like Obama did this too, he did it when he was in office too, by pumping this money into the economy and giving free loans to all these corporations with really no repercussions, it does set a bad precedent.
00:16:06.000And it's not a good time, as you mentioned, with war and everything that's going on, it's not a good time to be pumping more money.
00:16:13.000And, you know, and the interesting thing of all this is that gold has been relatively stagnant until the last probably 60 days.
00:16:22.000And obviously, when you see people, you know, running the banks like this, they're thinking to themselves, where am I going to move this money?
00:16:58.000If six months ago, if somebody would have went to Noble Gold Investments and put money there, they would have made at least 14 to 15% of their money.
00:17:05.000The price of gold is up 14% in six months.
00:17:08.000You can't say that about most stocks right now.
00:17:26.000When you introduce a girl to her baby by providing an ultrasound, you are giving her the truth at the most important time in her life.
00:17:33.000And more than 85% of the time, she will choose life.
00:17:36.000You're also giving her access to a two-year mentorship program and a chance to receive free maternity clothes, baby clothes, diapers, parenting classes, but perhaps, and most importantly, someone to walk alongside her and be a friend during the most crucial time of her life.
00:17:51.000$140 gives five mothers a free ultrasound and saves babies.
00:18:36.000We basically went to a seven-day work week at Noble Gold.
00:18:39.000We were always on a six-day, but we usually work a half day on Saturday.
00:18:44.000But we've been going through seven days a week.
00:18:46.000And just because people have been running the banks to send us wires and we just wanted to give them comfort kind of every week that we're around.
00:18:53.000We don't want them to think we're running the same thing that's going on at the bank.
00:18:57.000So we've been quite busy and the market's seen obviously a pretty big uptick.
00:19:03.000And before that, even 30 days before, we were seeing a huge push into platinum.
00:19:07.000A lot of people were buying platinum from us because platinum is pretty undervalued.
00:19:11.000I know we don't have that much time to get into it, but platinum is a metal that a lot of people have been talking about.
00:19:16.000So we've seen this platinum push and then obviously gold and silver over the weekend and this week has just been, there's been a flurry.
00:19:24.000In both silver and gold, have you seen it?
00:19:26.000Both silver and gold has been, yeah, we've seen a pretty dramatic price has obviously shot up.
00:19:32.000But, you know, we've, we're prepared for this in terms of stockpiling.
00:19:37.000Even during COVID, we never ran out of silver like many of the other dealers are out there because we went ahead and I actually bought basically every thousand-ounce silver bar in the whole market and uh sort of mortgaged my house.
00:19:50.000And then you didn't the hunt thing where you bought every I literally bought every thousand ounce bar that I could get my hands on uh in like two days, like right before the shutdown.
00:19:58.000I mean, that must have been millions and millions of dollars.
00:20:00.000It was a tremendous, I even had to borrow for some friends because I was so ahead of it.
00:20:05.000Um, so we never stopped incredible, Jeremy.
00:20:19.000And and and then what happened, and I remember when it happened in 2008, when the last uh crisis happened, and and it was sort of happening with COVID, was that that the dollar temporarily got strong.
00:20:29.000So, actually, gold and silver prices actually dropped.
00:20:31.000So, silver dropped all the way down to about $13.80.
00:20:41.000Uh, gold and silver both pulled back for about a month and a half, and then we saw them uh uh go ahead with quantitative easing phase one in 2009, then it inverts and then it inverts.
00:20:51.000Um, which I think a lot of people believe this new way that I was going to say, this new way that they've been able to fund the banks is sort of maybe a way that they're doing some new quantitative easing.
00:21:00.000I know there's some talk about this creates some liquidity in the markets.
00:21:04.000Um, and so, anyway, so then in 2020, I bought all the silver bars that I could, literally anything I'd get my hands on.
00:21:11.000And then silver went from $13.90 all the way up to $29 in nine months.
00:21:16.000And pretty much, I would say 70% of the people that bought at the beginning sold and made a fortune.
00:21:39.000So, I mean, that's a good reason to go get it.
00:21:40.000But it's just you as a business owner that, you know, to go all in and yeah, yeah.
00:21:45.000I just, I just saw that because once most of the silver in this country that we use that creates bars and coins, most of it comes out of Mexico.
00:21:53.000And they, for almost nine months, they had a very difficult time.
00:22:47.000And yes, you're going to have fluctuations.
00:22:50.000And obviously, we've seen like with states like California that you can create taxes that make it onerous and people will move, even though it's very desirable real estate, right?
00:23:00.000But in the long run, if you're in a state that makes sense and there's real estate that people want, it's the same dynamic.
00:23:07.000People are going to eventually, it'll eventually go up in value.
00:23:11.000So I want to talk about just the general economy.
00:23:13.000And we're seeing here, JP Morgan, Jamie Dimon, says the Green Transition Inflation Reduction Act have actually increased inflation.
00:23:20.000And the bigger trends are inflationary as the money supply continues to increase.
00:23:26.000Our leaders, not to be look, I don't want to be too dystopian or doom and gloom, but our leaders really have only a couple options at their disposal right now, which is you could take the cough syrup and you're going to hate the way it tastes, but you actually might be able to save the American economy, raise rates and cut spending and go through a little tough patch.
00:23:45.000They seem totally uninterested in that and said they are only going to continue to try to inflate their way out of an inflation problem.
00:23:54.000And next week will be, I think, the most interesting Fed meeting that we've had.
00:23:59.000It's going to be like people are going to have Fed watching parties.
00:24:01.000No, I think, I mean, since a year ago, when they decided to really raise rates and they've sort of been consistent, but now I think they know that if they go too aggressive next week, it could spur more banks going out of business.
00:25:56.000Well, he's sitting on a lot of cash because he's waiting for opportunities, right?
00:25:59.000I mean, that's, he wants to be able to jump into the market.
00:26:01.000And there's a lot of people out there that are so happy with some of these bond rates.
00:26:05.000You know, people that now, in a high, you know, if you look at inflation, let's say it's 10% and they're giving you a bond at 5%, it's still not great, right?
00:26:12.000It's sort of the same thing because they said inflation was 2% or 3%.
00:27:05.000There's a lot of people that say, I'm never going to get, I'm not going to get a rate like that right now.
00:27:09.000And so I knew we were in trouble about 18 months ago where I had some of our donors come to me and they said, do you know any ideas of places I can invest things in?
00:27:23.000They said, there's just, I don't know where the value is.
00:27:25.000And when you have dollar bills trying to find value, bad things start to happen.
00:27:29.000And it turns out that if you actually go to the cornerstone, which is a metallic-based something that could be used, talk about how gold is used in our, I think this is interesting.
00:27:39.000Gold is not just a nice shiny thing that you wear as jewelry.
00:28:08.000But even on a interesting thing is India, even on a smaller level for families that are poor, they'll pull money together to buy one gram of gold in India, which is basically the size of your fingernail because they revere it so much.
00:28:23.000And they know, you know, India has obviously gone through pretty heavy inflation.
00:28:27.000They know that gold will be a store of value for them.
00:29:36.000Can we ever, in my opinion, we're never getting back to 2% unless they basically strip CPI down and just put a lot of favorable attributes in there.
00:29:47.000So I think what's going to have to happen, and I think it will happen, I think they're going to increase their mandate to probably 4%.
00:29:52.000Yeah, and we're going to have to live with 4% to 5%.
00:29:57.000So the new normal is going to be, guys, sorry, asset prices are going to go up 10% a year for eggs, and you're going to have to get used to it.
00:32:00.000And, you know, for so many people that just have a standard retirement or they're just, they have Social Security and they think all their metrics are off.
00:32:09.000You know, that 3% rule, that 3% pullout rule in retirement, those numbers are going to have to be recalculated based on readjusted.
00:32:18.000And so the closer you are to retirement, that's when you really have to be careful.
00:32:22.000And I think people got really used to just keeping money in the markets and just thinking it was going to, it would ride itself out over years.
00:32:30.000But it looks like this pullback in the stock market could be longer than some of the other ones that we've seen in the past.
00:32:37.000Yeah, and they're only prolonging the inevitable, which is that some of these companies have unsustainable business models that are propped up by cheap money.
00:32:45.000And you can only pump so much cheap money into the system before you get massive negative ramifications.
00:32:51.000And then people start putting money and all sorts of goofy stuff.
00:32:53.000I do like the idea of blockchain and cryptocurrency, but the amount of the inflationary bubble of crypto, I mean, now this is one of the more tragic stories.
00:33:01.000It's down 90% basically across the board.
00:33:03.000And you're probably looking around being like, well, you should have just bought the thing you could touch.
00:33:08.000Well, yeah, because everybody's always, they always say Bitcoin and gold are kind of similar.
00:33:12.000And because Bitcoin has a limited supply, they sort of attach those two things together.
00:33:17.000But fundamentally, Bitcoin still has a problem.
00:33:20.000Not that I don't own Bitcoin, and I do.
00:33:23.000I still think it has the fundamental issue of proving that it has utility.
00:33:27.000And that's the biggest issue with most of these.
00:33:29.000Whereas gold has proven that it has utility.
00:33:32.000And even silver, we didn't get to talk about this too much, but it's a beautiful silver coin here.
00:33:37.000Yeah, Five Ounce America, the beautiful coin, which is one of our most popular coins.
00:33:41.000But last year was the first year that the Indian market was actually able to buy silver and mass.
00:33:46.000And so I do think you have the Indian market, which has been infatuated with gold.
00:33:50.000Now they have a bunch of ETFs in India that they didn't have access to because your regular investor, they're not going to store silver there.
00:34:05.000And then if you talk to miners about silver, where it's priced today in the, you know, in the low 20s, they talk about all the industrial uses and how hard it is to mine.
00:34:13.000The price is just, we're still dealing with a lot of pushback from the markets.
00:34:18.000And we still haven't seen a lot of, we haven't seen it really start to take off.
00:34:22.000I mean, silver was at $50 an ounce in 2011.
00:34:42.000So the thing that has, I think, separated us and propelled us to a lot of this growth was that we're one of the few companies that you can actually call and talk to a live person.
00:34:50.000And everyone there has been associated.
00:34:55.000And we have a Florida, you mentioned it.
00:34:57.000We have a group that loves gold and silver.
00:35:00.000But even some people say like they have to almost push the sale on a salesperson because we want people to feel comfortable about the purchase.
00:35:09.000We want them to know this is a long-term thing.
00:35:11.000They're going to be, if they do a gold IRA, the gold in there could be for 10 or 15 or 20 years.
00:35:17.000So we want them to feel as though they made the decision.
00:35:20.000And so we really take our time with that.