Bitcoin blows past $100k since Trump's election. Here's what to know
Summary
Drew Mason, CEO of St. Joseph's Partners, joins the show to discuss Bitcoin's meteoric price rise and what it means for the future of the financial markets and the world at large. Today's episode features a chart that shows Bitcoin's valuation relative to gold and the value of the tulip bowl in the 17th century.
Transcript
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Advisors who tell people, what's your choice? Do you want gold or Bitcoin? And who frame a
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discussion such that it's one or the other, or that they are similar assets, are doing a great
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Hey, my friends, have you seen Bitcoin going through the roof? President Trump just said
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it may hit a million dollars US. We want to get into that with our financial expert Drew
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Mason. But also, did you know there is an opportunity that wealthy folks are using to
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leave huge gifts to their children tax-free? And many of you probably know nothing about
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it. Stay tuned to this episode of the John Henry Weston Show with Drew Mason from St.
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over to give.lifesitenews.com and support our Christmas campaign today. Thank you, and
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Praise be to Jesus. Thank you for having us, John Henry. Great to be here. And as we do
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this, celebrating December 12th, the Great Feast of the Americas, Our Lady of Guadalupe,
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it's wonderful to be here with all of your viewers.
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Awesome. Let's begin, as we always do, at the sign of the cross.
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In the name of the Father, and of the Son, and of the Holy Ghost. Amen.
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So, for everybody who doesn't know yet, Drew Mason is the head of St. Joseph's Partners,
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the gold firm with which LifeSite News is partnered to make sure all of our families and our readers
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are able to invest with a safe company in gold to set up for their futures.
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Drew, let me ask you, Bitcoin is huge in the news. It's at the highest level ever,
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I think. I'm not a big Bitcoin follower, so I don't know that much about it. But I just heard
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President Trump the other day saying that it's going to hit a million dollars US. It's like at
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100,000 now. Tell us about Bitcoin and what's going on.
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Without a doubt, Trump is strongly supporting cryptocurrencies and Bitcoin. And since his
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election, they have been on fire. And Trump is saying that he is going to use some of America's
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challenges at this point in time and use Bitcoin as a way to work through those. So, if he is that
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committed to it, it is potentially changing the outlook for Bitcoin. And I want to delve into the
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specifics with the audience because on the one hand, I want to say to everyone, we would not tell you
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don't own any. But the point we want to really drive home is to understand what Bitcoin is. And
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advisors who tell people, what's your choice? Do you want gold or Bitcoin? And who frame a discussion
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such that it's one or the other or that they are similar assets are doing you a great disservice?
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Because Bitcoin is, at the end of the day, showing all the signs of being a speculative asset.
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Again, it may work out fabulously. But as your team will pull up here, John, and we have a chart to
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the viewers from X. And it shows the performance of Bitcoin relative to looks. Now, some
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viewers may not realize, but one of the first and most famous financial manias was tulips in the
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Tulip bowls. That's exactly right. And it's hard for us to comprehend this and it sounds ridiculous.
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But people got into their minds that the tulip bowl was going to be the center of wealth
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moving forward and wealth creation depended on it. And people begged the price of tulip bowls so
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high that they literally were more than a house in the Netherlands and whole years working wages.
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And then, as has happened throughout financial history, something unexpected triggered the
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awakening to reality. And the price of tulips imploded. And people who had had too much exposure,
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who were thinking of tulips as a safe asset, were wiped out. Now, you may say, that's just ridiculous.
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Who would ever put their wealth in tulips? But what I would like to say is look at the chart
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of tulips and see how it went straight to the roof. What you can see is this similar price behavior
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by Bitcoin that I would say to you, no matter how bullish you are in Bitcoin,
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warrants some caution because no asset goes to the world. And similarly, what you see here is the price
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of NVIDIA. And the audience has probably heard of NVIDIA. It is the semiconductor chip company.
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And they are perceived to be intertwined with the future of artificial intelligence.
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So anyone who is thinking, I want to invest, I want to profit from artificial intelligence,
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the way Wall Street is held up to that is through NVIDIA because they make chips that are used,
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the servers that work on AI. And if you look at that again, you see this aerobolic move that history
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says is unsustainable. Now, in this case, because NVIDIA is a stock, we have some data points that I
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think you would want to be aware of. But we have seen in the most recently completed quarter, the CDO
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of NVIDIA sold $700 million of his personal stock in NVIDIA. So he owns even more than that, but he
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chose as he looks at the future and he thinks about what is likely for these moonshots that are taking
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place. He chose to take $700 million out of NVIDIA and put it elsewhere. If you are really bullish on
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the outlook for your company near term, you're not going to do that. Similarly, his team, they add up all the
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executives and the board members. They sold over a billion dollars. So they said, while they're out here
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talking to the retail public and telling them how great AI is going to be, now NVIDIA is
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indispensable, they're voting with their own wallets and they're selling stock while retail investors are
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getting it through the roof. So the next chart, because you wanted your TV, your viewers, the city,
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what is transpiring here, we wanted you to see this correlation between Bitcoin and the tech sector,
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technology stocks. If Bitcoin really was a hinge to protect your wealth, in case the tech sector
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has a strong drawdown, then you would see Bitcoin be fading in an inverse manner to the tech sector.
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But what you see is that Bitcoin is preferring through time in line with the tech sector,
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giving credence to what I am submitting to you, that it is an asset of speculation.
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Now, again, crystal clear, not saying it has to fail. Trump has brought massive support for Bitcoin.
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What I'm just submitting to you as an audience, because if you have earned, you know, much of
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your life's earnings already, if you're getting older, you don't want to be wiped out if there's
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a crash and say, oh my gosh, I should have known that. Yes, you absolutely must have. You must
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partition your portfolio appropriately, be at risks. Now, in contrast also to what we see happening with
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when Lydia and Bitcoin, I want to pull up this quote, our third and final slide to your audience.
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Trump nominated Scott to be the treasury secretary. Scott is a billionaire. So in contrast to,
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you know, the blue collar workers who are out there buying Bitcoin, what he is saying is that gold
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is his largest position and that he thinks we are in a multi-year bull market for gold.
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So for many Americans and families, your home may be your biggest asset on your company balance,
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on your personal balance sheet. So if a family's worth, say, $500,000, for many families,
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their home is the most valuable asset they own. Maybe it's worth $250,000 of the $500,000.
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And the other $250,000 may be stocks, bonds, your cars, things like that. For Bissette, who is a
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billionaire, he has chosen to make gold, the biggest portfolio allocation that he owns. And I want to say
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this is really significant because his history, his set's history is he made a fortune by recognizing
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that the currency of Great Britain was hopelessly flawed and was extremely overvalued. And he
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prospered abundantly by betting that that was going to come down to reality. So here's this billionaire
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billionaire who arguably is one of the greatest currency triviers of our generation. And as he
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looks at currencies, the dollar, the euro, yen, the Great British pound, and gold, he has chosen to
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make gold the biggest owing in his portfolio because he sees all these flaws, these problems that are
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maturing in these currencies and that will in all likelihood flow through to the fixed income markets
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and ultimately equity in real estate as well. So he is saying, as should be many viewers here,
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thank you, God, I am successful. I have assets saved up. The last thing I want to do is get blown up.
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And so he is positioning in gold, not only because gold is so defensive, but he knows the history of
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gold. When these currencies hit air pockets, when the markets hit air pockets, the relative value of
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gold historically has done extremely well. So the irony, what is happening here, John Henry,
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is that we are witnessing that, I would say, the destruction of the fundamental underpinning of
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Western finance that all financial advisors are using. They tell their clients the U.S. Treasury
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bill, which is the dollar, led for just three or six months. They say that is the risk-free. That is
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the safest investment. That is getting blown out of the water because of our debts and inflation.
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What has been the safest currency over time, going back thousands of years, has been gold.
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Ironically, even though it has been the safest, I can't promise anyone it's not going to lose that.
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But what I can point to is this track record in finance that has done so well for families who
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allocated a portion of wealth. But ironically, even though it's so safe, what we see happening is that
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gold also tends to appreciate. Notably, usually it's like, oh, it's a safe asset. It doesn't have
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any upside. What percent seems to see, and what history points to, is that even though gold is so
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safe, it does have upside. Now, can I tell you it has the upside of Bitcoin? I can't. However, again,
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your portfolio should be like a well-oiled machine. You decide what amount of your wealth you want to have,
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pedal to the metal, going for it. And if you make 100x your money, great. But if you lose it all,
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it's not going to devastate your family. And what percentage of your portfolio do you want to have
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that is, I can go hand on my pillow and know where I am in life, that we have made a decision
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that will, according to history, protect that portion of my wealth, no matter what is coming.
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So that is how we are framing and would encourage everyone to think about gold with this long
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time versus many other speculative assets. If you want to make an investment in gold,
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please consider doing so through LifeSite's partnership with St. Joseph's Partners. You
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can click the link in the description below for that. For U.S. residents, creating will has never
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LifeSite News. Thank you for your support and may God bless you. But let's get on to this issue of
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this opportunity to gift your kids. Being a Canadian, I was stunned to learn that in America,
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you can't just give your kids as much money as you want, even while you're still alive. I'm not even
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talking about it in your will. Just gift it to them. You're not allowed to do that without being
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taxed, which I thought was crazy. But anyway, there's this thing that restricts you from doing
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that. What was it last year? You couldn't give them up to, I think it was anything above $17,000 last
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year without getting taxed. Is that correct? In person, that's correct. Correct. And so this year,
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2024, the amount you can gift has risen to a record level. Now, what I would say to the audience is
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studying the Uber wealthy regarding finances. Their behavioral trait is they rarely miss an opportunity
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to protect themselves from taxes and to get money tax-free to their family. And so this opportunity
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that many are not aware of is an individual can give this year $18,000 to anyone they choose as a
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tax-free gift. It will not create a tax qualification for the recipient or for the donor. So if you're a
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couple, you can give $36,000 and it's free. So you can give that to your child, to each of your
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children. You can give it to grandchildren. If you're an employer and you've done really well,
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you have, you know, you see kids who are your company, here's a way for you to get them money
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that they could use potentially for college or to buy a home. This is actually not only for your
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children. It can be for your grandchildren and then even friends. You can gift it to anyone you want.
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The key is you have to have this in place by December 31st, 2024, in order to take advantage of
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this record opportunity in this current calendar year and to avoid any tax issues.
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Okay. So yeah, I mean, this becomes a really important issue because when you have inheritance
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tax and you leave it in your, in your, you know, in your will to your kids, that's all taxed. But so
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you're saying that now you can actually give $18,000 to any individual child or, or
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friends or whomever you want. And then as a couple, you can do that twice. So you get you,
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you're out of your joint account with your wife, you, you can hand on 36,000 to each child or 36,000
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to multiple people. In America, when you leave money for your heirs, there's a finite amount you can
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before it's taxed. There's a ceiling on that. So what the very wealthy do is they take opportunities
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like this to get out significant amounts of money above any tax threshold that would come at that and
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get this money into the hands of the next generation or the people that they love or two generations
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down. And if like John Henry, again, there, there are no guarantees with gold. However,
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let's look at history, let's look at precedent. So if you have a young child now, and they can say in
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25 years, they're going to be ready to buy their first home. In America today, John Henry, as you
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probably are aware, homeownership is becoming so much more difficult for young people. Well, if 25 years ago,
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you had made this gift to a child today, that would be worth over $325,000. They could use and buy
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almost at the median home in America, at least through a major down payment. It is game changing
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if we will take advantage of this. You know, we, we think, what can we do that's meaningful
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for those we love? And what happens, you know, if in 25 years, I'm not here. And you may think the
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same thing about your children, your grandchildren and those you love. Well, by doing this, you are
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saving for them, you are being such a steward, as history tells us, we should be that you're
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setting this up so that they will be able to have a home, if otherwise, they wouldn't afford it,
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but they will be able to start a business. Now, this also has no requirements, you can give any
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amount that you would like up to that amount. And there's no restriction of time. So it's not like
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you have to set it aside, no one can touch it for 25 years. If the child is 10 now and 15, you know,
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you want to, you want to gear it. So then in 15 years, they can take it out by all that can be
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done. And again, looking back in history, that also would have been very, very profitable for
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these children. So, so we stick here thinking, what can we do for those we love in Christmas of 2024?
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This is something that literally can change lives and families for generations to come.
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And we encourage believers to be good stewards to do what we see that you were wealthy joining
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and maximize what remains in your family. How does that fit in with gold? How does the,
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this allocation to children fit in with gold? So they can save in gold or in silver. You can save in,
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you know, a plethora of opportunities. So what we do with clients is they can call us and say,
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okay, I would like to make this contribution tax-free to my children. By the way, we're
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happy to work with your tax advisors. We'll get on the phone with you to make sure they're totally
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comfortable with everything. And they can do one of a couple of things. They can say, okay,
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I'm making this $36,000 gift. I want you to send it to me and I'm going to give it to the child's
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parents. You know, you can put notes on it, you know, saying this is not to be touched until when,
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or you can save it in an insured audited vault in a manner that won't require any incremental
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maintenance payments. And where you are the custodian, the donor of it with specific instructions that the
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beneficiary of this account is to be so-and-so. And your preference is that they will not touch
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this money until whatever year it is. So it can be completely customized to whatever the family's
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This is a time of advent of, of preparation. Um, give us your final thoughts, uh, on how,
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cause you, you, you do a unique thing, Drew, you work in the financial sector and you set people up
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with investments in gold and precious metals, but then you bring to it this religious aspect. And
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now that we're, uh, in advent, uh, preparing for Christmas, give us some of your wisdom.
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I don't know if wisdom is the right word for it, John Henry, but what I would say is,
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you know, if you see being professional in the media, how people's perspective is just deliberately
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shaped the wrong way. There's not a crisis at the border. The media tells us the media tells us,
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you don't, you can't have Jesus in business or in schools or in the courthouse. So the media is telling
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us, you might have to run West looking for a sunrise. And we need to just stop and say,
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really, are you telling me the truth? And so we would say, we want to be a generation that changes
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that, but we say, no, Jesus is the foundation. He is the cornerstone of the United States of America.
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He is our greatest resource. And so as a company, I think you guys in your audience knows, you know,
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for 15 years, we have been leading endeavor, had America's fan is with us and thousands of people signed
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up Wednesdays and Fridays, just like first century Christian said, we are all obligated to do.
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And what we've begun doing more recently, John Henry, since your time leaving us, we've begun
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opening up our company prayer. So every day we pray the rosary as a company. We study the structures
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as a company. We pray for deliverance over our health, over our families, over our business,
00:21:11.920
over our homes every day, because it is a spiritual battle. We have to realize every moment Satan's
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coming to destroy us, but we've had to have the tools to push him back and destroy him.
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Now we're praying for the always spirit every day, because as our lady told us,
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whenever you pray, pray first for the always spirit, because when you have the always spirit,
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you have everything. So in this wonderful and bent season, I see cause for so much hope. We see
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revival breaking out all across the country. I think I'm less informed, but across the worried,
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there is so much good happening. So between now and Christmas, let's encourage everyone to do what
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Jesus said is the most important commandment. That's love God with all our hearts. And if you look at
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what Moses wrote, he said, the three most important commandments all have to do with that. It's we'll
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have no false gods besides the Lord. And our lady tells us the biggest false god today is money.
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Right. Right. Let us ask the always spirit to make God our Lord and not money. Secondly,
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let us resolve that we will not take the name of Jesus in vain. Let us be conscious. We're watching
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TV and movies. How awful it is that Hollywood deliberately pushes the name of Jesus as a curse
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so that we will become desentatized to it. Let us make this a new hour where we're going to take
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back holding the name of Jesus. And thirdly, again, this may not sound out of work, but Jesus said,
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this is more important than the commandment for murder. Let us honor the Sabbath. As the Lord said,
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no work on the Sabbath, no comers, no one working for us, just spending time with him and our loved
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ones. So between now and Christmas, let's try and put those three commandments that are all to do
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from Moses writing with God and that Jesus summarizes the most important commandment to
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level with all our hearts. That's what we're trying to do this Advent. And I think the Lord is pouring out
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extraordinary blessings on those who take these steps towards him at this time, John Henry.
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That's great. If you want to take advantage of that trick of the wealthy to leave your children
00:23:32.400
or whomever you wish money tax-free, you can do that through an investment with St. Joseph's Partners
00:23:40.320
at the link below. Drew Mason, thank you so much for being with us. God bless you.
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And God bless all of you. And we'll see you next time.
00:23:53.200
Hi, everyone. This is John Henry Weston for LifeSite News. We hope you found this video
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insightful. For more content like this, be sure to check out the links in the description below.
00:24:02.320
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