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00:36:36.920and so if you're passing legislation to create winners you know who the winner is going to be
00:36:45.900you can front load that Nancy Pelosi is the most famous if you coattail trade Nancy Pelosi yeah
00:36:50.680no people very well there's a huge thing like one of the guys that I follow online he that's what
00:36:55.180he he does he posts updates all the time really yeah she bought a whole bunch of options in this
00:37:00.600thing but usually they disclose quarterly so it's usually a little bit late but either way
00:37:05.380I mean she doesn't have losers you know because of that but another aspect of an inflationary
00:37:11.540economy is that it it punishes middle class and lower class people because they're typically
00:37:18.520savers right you want a savings account you want to have an emergency fund and usually it's a pretty
00:37:24.300big percentage of your income because you don't make that much money so if somebody makes eighty
00:37:28.700thousand dollars a year and it costs you know their three months uh emergency fund is going to
00:37:34.320be something like thirty thousand dollars we'll say they need ten thousand dollars a month for
00:37:38.560emergency fund, their roof goes bad, their water heater goes out, AC, whatever it is,
00:37:44.400that's a huge percentage of their income. It's like 40% of their income in a savings account.
00:37:50.820And inflation is slowly stealing that or more rapidly stealing it in recent times,
00:37:58.460the purchasing power. So now you need to have a bigger emergency fund, but your wages haven't
00:38:03.720increased. While in the meantime, the wealthy know in an inflationary economy, you have to hold
00:38:09.420assets. The wealthy have enough money to own an enormous amount of asset hedge. So not only did
00:38:17.120your savings go down, but also then as you as life happens over time and you need to move or you need
00:38:23.140to buy a new vehicle or these big purchases for us normal people. Well, now your home that you
00:38:28.560just had to buy, instead of costing you, let's say, 28% of your monthly income, well, your
00:38:35.780monthly income grew by 6% over a period that inflation grew by 25%, and home values inflated
00:38:41.600by 40%. And so now you actually have to spend 49% of your annual income in order to just purchase
00:38:49.100a worse home than you could have bought 10 years before. Meanwhile, who owns all of the homes? Who
00:38:54.540owns all of the infrastructure who owns all these things well the extremely wealthy do and the
00:38:59.780governments do so what are they doing they're enslaving the populace on their big surf farm
00:39:09.440it's it's a it's modern oligarchical feudalism on a massive scale it's it's something that most
00:39:15.940christians don't spend time thinking about but there's a reason particularly in the old testament
00:39:20.120for god's people that you're not using usury against your brothers right um usury is a way0.54
00:39:27.820to enslave people and particularly if they're your people so when you it's a tool domination
00:39:33.340that's right so when you see your leaders opening your borders uh for venezuelan militants and
00:39:41.000criminals or colombian or wherever they're from and you see them doing that to you with the0.99
00:39:46.560monetary policy it's because your own leaders want to make you an absolute dirt munching slave
00:39:54.380yeah that is the reality and i think for when you start looking at the biblical principle like dan
00:40:00.560you you had mentioned in the show notes proverbs 20 10 this being an issue of unequal weights and
00:40:06.800measures you're actually enslaving and cheating people yeah um one of the things that struck me
00:40:12.9402020 people in the middle to lower classes. We were like, wow, we got hit hard. Like I lost my
00:40:19.720job for a time. Couldn't find work. What struck me as interesting. Um, it was the, I think I read
00:40:27.680this. I think it's true. It was the greatest wealth transfer in American history. The people
00:40:34.640who are, you know, wealthy already got way richer. Yeah. Well, in part because they have assets.
00:40:40.740So that's part of this whole series, right? We talked about Bitcoin. Now we're going to talk
00:40:46.140about gold. And then we have real estate and then traditional, you know, TradFi, traditional
00:40:52.520finance, which is like the stock market, bonds and things like that. All of those things went up.
00:40:58.500So gold, for example, since 2020, so inflation went up 25.7 percent since 2020. Gold has gone
00:41:05.560up 66 percent or almost a thousand dollars an ounce and so if you hold assets held assets at
00:41:12.640that time which the wealthiest people do they're not going to have all of their money in a bank
00:41:17.120account are you kidding me they're going to have it in assets and investments and things like that
00:41:21.100um even our home values everybody increasing their value yeah that's right you've seen your
00:41:25.560property taxes go up mine's almost doubled since i bought my house mine went up another 500 this
00:41:31.160year it was really really fun to get the letter it was like a little love letter from weber county
00:41:36.100they were like here you go here you go money please yeah well and and the thing is that
00:41:43.800when you have we have a fiat currency um fiat meaning i made it up i made up what the value
00:41:51.360of the dollar is essentially it's like by government decree it's by yeah exactly and so
00:41:55.640So one of the arguments of the gold guys, and I think this is right, is that in the past, even when the Federal Reserve was created, so it was gold only gold backed at the time in previous previous policy.
00:42:10.920It was by I can't remember what the term is, but essentially silver and gold.
00:42:15.460They thought there was too much volatility in the the value of the dollar because silver was more volatile than gold.
00:42:22.380So they were like, you know what, let's just go to gold.
00:54:30.740And, you know, I know we're here to talk about gold, but just morally speaking between holding it in your mattress and putting your $100,000 in the bank, you know, $100,000 in the bank is a million dollars of lendable money to that institution.
00:54:45.560And so they are profiting off of your $100,000 by lending it out 10x because that's the way the game is played. That's the system that they've created in that their reserve requirements are 10% versus the 90% that they're going to go lend out.
00:55:02.340And so they're paying you three and a half, 4% if you're lucky on a high yield savings account, which by the way, is still a negative real rate when you compare it to actual inflation. And on top of that, they're lending out $900,000 at say 8% and making a ton of money off of you and perpetuating the system of debt slavery that's been created through fractional reserve lending.
00:55:28.100And so even just like morally, you're not happy to have money in a bank. That's fine. But the comparison between in a mattress versus in a bank gives you a little idea of what you're allowing the bank to do by holding your money in addition to the inherent risk of just being in the financial system.
00:55:46.820So would you, back to the, back to the original question, then you've got a hundred thousand
00:55:51.020dollars in a safe, which is a lot of money to have in a safe, by the way, is that a good
00:55:55.540thing to hold or are there better things that you should have than cash?
00:56:00.860Well, I think cash in today's world is the, what we would call the most marketable commodity.
00:56:08.040I think Gary North gave me that definition in his book, honest money, which is one of
00:56:13.980those books we could add to the show notes, the, the currency, you know, it needs to be easily
00:56:19.460spent. Right. And so cash is number one right now. And, uh, and of course I would advocate for,
00:56:26.100for holding precious metals as, as a marketable commodity. I do believe that gold is one of the
00:56:33.180top, if not the top marketable commodity in the world economy, because that's something that can
00:56:39.400be made liquid and used to make purchases anywhere in the world. And so I would say cash in the vault
00:56:47.040or in the safe at home is good because I mean, a hundred thousand dollars, you can't go into the
00:56:52.780bank and get a hundred, a hundred thousand. No, you know, we go regularly to do business and it's
00:56:59.100difficult to get 20,000. We know coin shop, other, other gold brokers that ironically put their cash
00:57:06.940in a deposit box in the Wells Fargo so that they know that they can go and get the cash when they
00:57:14.760need it because it's assumed that the bank teller doesn't have it. So when they do a big purchase
00:57:20.920of half a million in gold and somebody comes in and wants cash, he runs down and opens up his
00:57:28.180safe deposit box and pulls out the cash because that's the only way he knows that the bank will
00:57:33.340have it and i used to kind of give my mom a hard time because she told me that she did that and i
00:57:38.180was like what's the difference it's either in the bank or or in the deposit box both in the bank
00:57:42.820but she actually had a point that well i know the cash is going to be there if it's in the box
00:57:48.620versus a number on a screen so just an interesting tidbit there on on the bank system so that's
00:57:55.760interesting that's actually not what i thought you were going to say i would i would advocate
00:57:59.740for having some cash, but you'd have to, I mean, it depends on how much, you know, your portfolio
00:58:06.280is worth overall. If you only have $100,000, that's all you have in your savings, holding it
00:58:11.280all in cash, probably not the best use of that money. No, absolutely not. I'm thinking more of
00:58:17.460the velocity of money and what you need to do with that. What we try to do at Alpine Gold is
00:58:22.660encourage people to view gold and silver as a cash replacement. And so our whole mission
00:58:29.380in helping people view gold and silver as money is to be able to make those transactions so that
00:58:35.260the velocity and the transactability is there. Because in today's world, you still need a
00:58:40.700middleman for your gold. You still need to get into cash and to buy things, whether they're
00:58:46.660homes or cars or paying bills the question is how long do you want to be exposed to the dollar
00:58:53.040and right now your exposure to the dollar in a given 12 month period could be a 10 percent loss
00:58:59.740you know and then we don't know the real you know rate cpi is not actually a measure of inflation
00:59:06.320inflation by definition is the measure of the amount of money being created and we really have
00:59:12.520no idea how to quantify that number. So we use CPI as a, as a fancy tool to, to dupe people
00:59:20.620into thinking that it's not as bad as they say it is, but we know it's bad when, when you factor
00:59:26.640in things that don't get included in CPI, like home insurance or car insurance, or the price of
00:59:32.260real estate. If that, you know, since the Clinton era, they've really fine tuned how they use CPI.
00:59:37.580But if we just go ahead and double their stated rate of 5%, then yeah, 10% in a year is what you're losing on your cash, whether it's in the bank or in your mattress.
00:59:49.560Right. So, I mean, in an inflationary economy, you can just look at the wealthy. In an inflationary economy, the best thing to hold is assets because assets track with the rate of inflation.
01:00:02.680So that's why we're examining things like Bitcoin, gold, real estate, and even the stock market all have their unique risks and challenges and all of that. But you can, if you want to secure guaranteed losses and buying power, the best thing you can do is hold cash. Like you said, it's 10% loss in one year in buying power.
01:00:22.580And so you talked about gold is viewing gold as currency. I've mentioned it as an asset. What is gold? Is it an asset, an investment, a currency? What exactly is it?
01:00:35.880I think J.B. Morgan said it best when he said gold is money and everything else is credit.
01:00:42.400A lot of people today, maybe even a guy like Dave Ramsey, who I think gives good advice and has helped a ton of people.
01:00:50.960He compares gold as an investment against other investments.
01:00:56.300And I think that's a little bit apples to oranges.
01:01:00.300Gold, I think by definition, is money.
01:01:32.840So I just did a little math earlier today, looking at the prices of gold and the S&P and the NASDAQ over the last 30 years. So 94 to 2024, the S&P produced a 5.5x growth. The NASDAQ was 11x and gold was right there in the middle at 8.63 growth.
01:01:58.940So gold went from $275 an ounce in 1994 to $2375 an ounce in 2024.
01:02:08.020And so if I'm here saying gold isn't an investment, but it's performing better than the S&P and nearly as good as the NASDAQ, what does that say about the stock market?
01:02:20.960What does it say about the stock market?
01:02:22.320I think what it says is that simply holding an asset that beats inflation in a very simple way
01:02:30.580is more wise than trying to play the market and use Wall Street as your investor guide.
01:02:41.500And the simplicity is anybody can do it, right? You don't have to be a speculator. You don't have
01:02:48.720to be really good in the market to just buy gold and, and, and hold it not as an investment,
01:02:54.160but as a preservation of wealth. And then, but by the same token, you know, you're still beating
01:02:59.220the market in many ways. And so I just, I think that, that, that idea of, of investing kind of
01:03:07.060needs to be reevaluated because that's what we're here to talk about, right? Is investments. Well,
01:03:11.420if I'm, if I'm coming right out of the gate and saying, well, gold isn't actually an investment,
01:03:15.220it's just a preservation of your wealth or a true savings account. Then the next logical question
01:03:20.520is, okay, well then how do I invest my wealth? Because that's square one. I want to go and build
01:03:28.260the new Christendom. So what investments do I need to make to do that? But how do I first secure
01:03:34.540what I've got and what I've worked hard? And especially if you're a 55 year old guy who's,
01:03:40.180who's looking at retirement and wondering when the next crash is going to be, you can't afford
01:03:46.120to roll the dice with people in New York or London or wherever and hope that they're going
01:03:50.660to take care of you. The younger guy has a lot more options and a lot more work to do,
01:03:56.300but either way, the small or large amount of money that you've saved needs to be protected
01:04:02.220first and secured prior to going out and investing. Interesting. Yeah. So you're viewing
01:04:09.000gold as uh well as an asset it's a non-productive asset that retains its value and and because it's
01:04:18.300a it's an asset it grows in value with inflation obviously if if there was no inflation you'd
01:04:25.320since uh 1994 you'd expect gold to be about 275 dollars an ounce as it was in in 1994 correct
01:04:32.760Correct. Like when gold was $20 an ounce and you can look at an old gold coin from the early 1900s and they were $20 pieces and gold remained $20 an ounce until 1933 when they confiscated all the gold and revalued gold at $35 an ounce.
01:04:52.360So that was a 75% inflation of gold price overnight, and that served as the basis for monetary creation after the great bank shakeup in the FDR days.
01:05:04.220And then gold held fairly steady at 35 an ounce until the early 70s.
01:05:11.120And then we go off the gold standard with Nixon, and the price of gold starts to run away from there.
01:05:17.740So I've heard a lot of definitions for what is money, what is currency. The Jordan Bush, whom I spoke to about Bitcoin, gave a definition for why he thought Bitcoin was money. One way I've heard it described is that it's an encapsulation of of work. Right.
01:05:40.600So you work and there's value to that and it's captured in your currency.
01:05:45.440Would you, would you say that that could be a working definition of, I think that's fair.
01:06:04.540And one of the, one of the things, the reasons that one should consider holding gold is that it's a, it's essentially a secure vault of your, of, of value of that, of that, uh, work value that you've secured.
01:06:21.460So it's kind of like insurance in a way.
01:13:09.340And, and these uneven weights and measures that, that are being used in our society,
01:13:14.100pushed down from the top, from the bankers and from the politicians, they absolutely are caught
01:13:23.120in a moral trespass, I would say. So you've mentioned people being enslaved by the system
01:13:30.740a couple of times. What do you, what do you mean about by that? Well, so, so like we mentioned,
01:13:38.260uh, you know, JP Morgan says gold is money. Everything else is credit. Well, when he says
01:13:43.780credit, that's debt. So our entire system is based on debt. If every dollar that was loaned out
01:13:53.020was paid back, you would have zero dollars in the entire system. The way that this system works is
01:14:00.840by creating money through creating debt. And as we know from scripture, the borrower is slave to
01:14:07.660the lender. And so every single dollar out there in the system is, is a result of somebody borrowing
01:14:15.740money and then it being borrowed again and again. So take your house, for example, you sell your
01:14:22.460house. Uh, the money that is used to buy that house is more than likely going to be borrowed
01:14:28.520unless it's from, you know, some guy from California who sold his house and has cash,
01:14:33.280which is a possibility, but by and large, you swipe your credit card, you get a car loan,
01:14:38.040you go out and get a new mortgage. Those are all dollars being created through debt. And so that
01:14:45.020is what I'm talking about when I say there's, there's enslavement happening because those of
01:14:50.500us who have been in debt, uh, even mildly feel the, the yoke of, of that. And, and, and of,
01:14:58.360of course there's some debt that's unavoidable and again i'm not here to to say oh no debt at
01:15:04.080all because that's that's a reality of of the system that we're living in but it is it is a
01:15:10.320yoke and it is it is uh draining the energy and and weighing heavy on the minds of people
01:15:16.280who may have made some mistakes on a credit card or bought a car they shouldn't have and then these
01:15:23.580these people who are trillions and trillions of dollars in debt because that's the system they
01:15:27.700designed will ruin your life for not paying back the debt that you owe and ruin your credit score
01:15:34.600and make it impossible to get an apartment or buy a house when they're the ones who created
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01:18:42.840And so if you look at the salaries that the average salary, the average income for a U.S.
01:18:48.720household versus uh the housing prices i mean you talk to a lot of our younger guys and they're
01:18:56.860coming out of college and they're trying to make an income and have their wife at home and take
01:19:03.540care of their kids and build their household and just just honestly you look at the numbers and
01:19:09.280it's not possible for most of them to own a home it's it's it's really sad and so the system is not
01:19:16.600even set up in a way in which people can even get access to owning a home. But another part that's
01:19:24.680really interesting that you mentioned earlier. So with the example of having $100,000 in the bank
01:19:30.220and the bank then has access to give out $900,000 in debt from that $100,000, which is interesting
01:19:39.060because they're essentially like trading on leverage, which is a really risky deal. That's
01:19:43.920very lucrative for for them uh it's been a minute since i've read uh on this but where does that
01:19:50.220nine hundred thousand dollars come from isn't that just from the fdic they're making it available
01:19:56.280liquidity from the fdic to the banks it's just created ex nilo so the fdic is not involved in
01:20:07.020that way the fdic is an insurance fund oh i'm sorry yeah the fed the federal reserve okay yeah
01:20:12.180So all the banks are required to pay into the FDIC, just like we pay for insurance.
01:20:19.420Every bank, whether it's a credit union or regional bank or Bank of America, everybody has a tie back to the Federal Reserve.
01:20:28.740So if you're a credit union and you're doing a loan or something, you have a tie to a commercial bank, which is probably one of the big five.
01:20:36.000Wells Fargo, Bank of America, Chase Manhattan, Goldman Sachs, something like that.
01:20:40.380that those guys are constantly working with the fed the federal reserve you know every day of the
01:20:48.000week and they're the ones who are being allowed to create that money but that's why whether you
01:20:54.540get a mortgage from a regional bank or from wells fargo or from some random broker it's all going to
01:21:00.300be the same rates it's all going to be the same questions it's all going to be the same requirements
01:21:04.180for your income and your debt and all that, because it's all coming down from on high,
01:21:10.220which is the Federal Reserve who dictates the terms. And so they are allowing money to be
01:21:15.360created based on a reserve ratio. But you can see how that could become very problematic very
01:21:20.880quickly. When I have $100,000 in the bank, they go out and lend $900,000. And then say they lent
01:21:28.700it to you and then you go deposit it into another bank. Now that becomes the liquidity basis for
01:21:34.200another bank who will then go and loan out another, you know, 90% on whatever you put in there,
01:21:40.560even though it's borrowed money. So all of a sudden it becomes very top heavy and, and very
01:21:47.360risky, I would say for anybody who's paying attention. Oh my word. Yeah. So that a hundred
01:21:52.400thousand dollars that you started with, they give out a whole bunch of, you know, $900,000 in debt.
01:21:56.560i have a mortgage then and i i decide to refinance take cash out refi and i take a hundred thousand
01:22:02.420dollars out and i put it in another bank and then there's another nine hundred thousand dollars that
01:22:06.680comes off of that so from from that one first one hundred thousand dollars you essentially have
01:22:12.2401.8 million dollars that's been created and that could be done i think roughly nine times
01:22:18.400that's just two times but exactly oh man uh so do you think um given our time like knowing the
01:22:30.460times uh this is this is part of the reason why i started this series was because i looked out and
01:22:36.200i've got some cash and i was like what do i what do i do with this do i do the stock market do i
01:22:40.420do gold do i do cryptocurrencies do i do i do real estate um you know i see problems with each
01:22:46.540Obviously, there's risks all the time, but especially now, given our economic moment, do you think that now, compared to even any other time, is particularly ripe for holding gold?
01:23:01.680Do you think now is a better time than in recent history?
01:23:06.060Or do you think it's just always been this way?
01:23:15.640with gold's pedigree of thousands of years being used as a currency, there's never a bad time to
01:23:24.620hold gold. But I don't have a crystal ball. However, we know that there's some serious
01:23:31.920fractures going on. The foundation is cracked in the financial system. And so I'm a little bit
01:23:38.180in a wait and see moment personally. And so that's why I would say gold is really good right
01:23:44.720now because it's a great place to park your money. The, you know, I'm hesitating to go out
01:23:50.800and pay these prices for, for real estate, for example. Uh, I certainly don't want to borrow
01:23:56.780money at eight or more percent from a bank. Uh, I still, you know, have some private deals out
01:24:03.760there and would, would be okay going into debt with somebody, you know, who's, who's a family
01:24:08.260friend or something, but I'm just very patient right now because I think 2025 could be a very
01:24:17.160interesting year. And I'd like to just see what's on the other side of 2024. We're kind of, you know,
01:24:23.820it's an election year. We're kind of in a lull right now. It doesn't seem that crazy, but in the
01:24:29.440first year of a new president, they're going to be able to have some leeway because they don't
01:24:35.120have to worry about another election for a few years. And so in this moment where we know there's
01:24:40.520all of this, this financial turmoil underneath the surface, and they're trying to make everything
01:24:45.400look okay right now, as we go into an election, I would say that, yeah, it's a great time to hold
01:24:51.240gold because we could see any number of things happen. And we've already talked about the
01:24:57.140inflation thing. And if you'd allow me to talk about the deflationary potential.
01:25:02.140Yeah. So, so describe in, in economic cycles, you have usually inflationary periods where you see massive economic growth as new money is being injected into the system. We saw this in 2020, 2021, where, you know, they were handing out stimulus payments and relief payments.
01:25:22.020And there was money going everywhere that they're printing and injecting into the economy.
01:25:26.260And we just saw on-risk assets go crazy.
01:26:19.160in deflation, your dollar is going further. The value of your dollar is improving in a
01:26:24.380deflationary environment, which seems like a good thing. But with the inflationary cycles,
01:26:29.900like you mentioned, that hangover is, is the deflation. It's, it's the, the long, you know,
01:26:37.660night out of inflationary spending. And then the morning headache of, um, oh man, this is,
01:26:44.460this is rough and i think it's easy to forget even with even if you're not party to it right
01:26:50.200we're not we're not perpetuating inflation here at our level but we're in it and that's all we
01:26:55.600really can think about because every time you go to the pump or every time you get your insurance
01:26:59.120premium or you know every time you go to the grocery store it's like man this sucks but you
01:27:04.220got to still remember that like the dawn is coming like the day will break and and there's another
01:27:10.280there's another thing on the other side of this called deflation. And, and, and we talk about
01:27:15.880this all the time with just with, with different people, right? When you think about where's the
01:27:21.220money being spent, where's the source of funds for this economy right now, you look at that
01:27:28.080government projects, you look at universities build being built, you look at hospital systems
01:27:33.040that are owned by the government being built. You look at social security checks that are going out,
01:27:37.280You look at Medicaid and the healthcare industry, and a lot of that's coming from the government.
01:27:41.860So all of a sudden, you know, you realize like the fount of the economy and the cash is really government spending, which is out of control.
01:27:51.480And what happens if or when they decide to tone that back?
01:27:56.840Or what happens when it becomes too expensive for the government to spend like that?
01:28:01.780And all these these trades and all these construction companies and all these different jobs that matriculate out of that government spending.
01:28:10.080Yeah, because it's not just government as an employer, but they also have all the contractors and all of the industries that are relying on government cheese, you know, to keep their operations going.
01:28:21.060So that deflation is when the amount of dollars available are just no longer there. And when you start to control an economy through the government, you then have the ability to pump the brakes in a really painful way.
01:28:37.560obviously politically that's a difficult thing to do but the but the thing is it's not just
01:28:43.080politicians that we have to worry about it's their banker friends and and federal reserve
01:28:48.040lenders that are ultimately going to call the shots and so at least we know a politician is
01:28:53.680worried about getting re-elected and so we don't have to worry too much about him completely
01:28:57.840shutting out the spigot just red pull yeah but the overlord of the federal reserve is not part
01:29:04.280of the government does not have the same inhibitions because they are not elected and they they have
01:29:10.720the ability to continue to crank that interest rate to a point where it becomes completely
01:29:14.580untenable to continue borrowing and then the amount of like again like we said the creation
01:29:19.920of money is the creation of debt and and you and i probably are both thinking here i'm not going to
01:29:25.580borrow more money because the interest rates are high everybody's doing that calculation even the
01:29:30.960government. So at some point the rates are going to get high, higher and higher that no new money
01:29:36.640will be being created at the rate that it needs to be to perpetuate this, this system that we're
01:29:43.160in. And it doesn't mean that all the other money's gone, but it's just, that's all tied up and other
01:29:47.560things. So we rely like a heroin addict on new hits and new money injections. When that stops,
01:29:55.900It doesn't matter how much has been consumed prior to that. When the new stuff stops flowing, that's when you see deflation happen. And that is when I'm saying gold is a good thing to own, is gold is the only proven asset that will excel or grow in value in a deflationary environment.
01:30:18.240And maybe Bitcoin will, maybe it won't, but there's no track record for Bitcoin. It doesn't
01:30:25.160have the history. So assets will tank in a deflationary environment. And that includes
01:30:31.060real estate, that includes the stock market, that includes all kinds of businesses. And what
01:30:36.900happens? The people with cash are buying things up at pennies on the dollar. And that's why, yeah,
01:30:43.140It won't hurt potentially to have cash in that environment, but your goal, it will hurt to have
01:30:48.500debt. It will absolutely be because asset prices are going down. And so you become like the banks
01:30:55.540right now where you become upside down. So your house that has doubled in value since 2018 has
01:31:01.980now halved in value, you know, because there's no money out there to buy it. Right. Like we don't
01:31:06.900have to be speculatory about the house prices. It's just, we know that in a deflationary environment,
01:31:12.080there will be no money to buy assets because it just,
01:31:16.000they won't be writing loans and people won't have the cash.
01:31:18.440We already know people don't have enough cash to,
01:31:20.760to front like a $400 unexpected event,
01:31:41.580the interest rates have gone up and the house prices have stayed the same for as long as they
01:31:45.220have. Most people figured that house prices would start to come down, but, but they're just not.
01:31:50.480But at some point that, that has to drive prices down. And when that happens, will we be ready?
01:31:58.140And, and, and so that's where we're at, right? Is trying to figure out what's the best play
01:32:03.540as we kind of feel out and watch what's happening. I don't want to be on the sidelines forever.
01:32:08.760Right. I'm still building. Right. I'm still. But but the debt is very concerning to me and the market is concerning. And so I'm being more conservative right now by sitting and parking in gold while we just kind of let things play out.
01:32:24.880Hmm. Very interesting. So tell me why does gold perform well in a deflationary economy versus other assets that, that don't do well? Is it because there's no debt associated with gold versus real estate and, and versus, um, you know, stock market, you have companies that are essentially run on debt and things like that. Is that the reason or is there something else?
01:32:47.380Well, I won't be able to give probably the textbook answer here. The one example that comes to mind, right, which was actually kind of like government mandated was that gold in the Great Depression was $20. And then we came out the other side at 35. So that's a 75% growth in the value of your gold. And that's just a historical anecdote, right?
01:33:06.120But what you did mention, I think, is a good point is that gold has no counterparty risk. Everything else almost has counterparty risk and the dollar, you know, the government and the Federal Reserve is your counterparty. So whenever you're using dollars, you're transacting dollars like that's your that's your bedmate, like whether you like it or not.
01:33:27.060Bitcoin, I think, has counterparties that I don't really fully understand. You always have to just consider when you're holding something of value, what could potentially go wrong with it that's outside of my own control.
01:33:41.520So if I have gold in a vault in my house, the counterparty is me and my ability to secure that gold. But other than that, nobody can reach out. They can't inflate the value. The value will change, but it is what it is, right? You can't reach out and touch that if it's not in the system.
01:33:57.800Bitcoin is actually interesting because it's going to be subject to some of the same manipulations that gold is because of the ETFs, which, you know, you'll talk about in just a minute.
01:34:07.700But the thing is, and I should ask Jordan about this, but no matter what you think Bitcoin is, if it's currency, if it's an asset, if it's an investment right now, it is treated like a risk on asset.
01:34:22.300And so that's just something to keep in mind when you have risk off, you know, so in times of economic volatility, often you'll see people flee to like bonds and to gold.
01:34:38.700And so that could be another reason why things tend to do well.
01:34:43.560Gold tends to do well in a deflationary economy.
01:34:46.500yeah any crisis environment any low trust environment any recovering economy i mean
01:34:53.620and it's not a choice by the by the overlords i mean it is a choice by the people and it almost
01:35:00.480is always driven uh the the use of gold or the return to gold is driven by sober-minded people
01:35:07.140at the bottom saying yeah we're we're not going to to play the game anymore i mean we we don't
01:35:12.100have all the choices in the world like we do have to interact with the dollar but you know i wanted
01:35:17.420to make this point at some some time during the podcast i thought that uh i think it was doug
01:35:22.320wilson right who made the comment that like if everybody pulled their kids out of public schools
01:35:26.440the system would would collapse uh they wouldn't have enough students and and the you know there
01:35:32.640would be too much demand for private schools charter schools in the public school system0.99
01:35:36.800If all the Christians just pulled their kids that we could almost force a change that is happening. And it's not uncommon, right? It's almost normal now to be like, yeah, I would never put my kid in a public school.1.00
01:35:51.220And what our goal as we have these conversations is to help people consider like, what if all the Christians pulled out of the financial system by using gold and silver versus versus participating in the IRAs and the mutual funds and the traditional finance?0.60
01:36:09.060I think Bitcoin's pushing itself into traditional finance in some ways. What if we did that? And it's a small movement right now, but I think it could grow. And the impact of that many Christians pulling out of the financial system would be catastrophic, not for us, but for them.0.66
01:36:27.440because it's so you know even if like 10 percent of people stop paying their mortgage for example0.96
01:36:32.800it would create massive ripple effects in the system and could probably instantiate another
01:36:38.600crash just from the bottom up now it's going to be very hard to convince people not to pay their
01:36:43.320mortgage because they know the threat of foreclosure and all that but every time we get somebody to
01:36:50.840convert their IRA into gold or to take cash out of the bank and, and put it into gold. It's a small
01:36:58.420victory for us at our, at our business, because if I can get a guy, you know, we did, we had a
01:37:04.500call from Bozeman, Montana. Somebody has taken 400,000 out of their bank and putting it into
01:37:09.460gold with us. And that is $4 million of debt, slavery, borrowed money that is gone. You know,
01:37:18.620if we take that 10 X multiplier, right. At least. And that's just not even counting the,
01:37:22.480you know, the Ponzi scheme effect of, of that multiple. And so that's where we, you know,
01:37:28.200we're excited, right. Because we're, we're, we're punching above our weight class because of the
01:37:33.240way they built the system to be piled up on top of itself. And so that's where we get our motivation.
01:37:39.040And we do think that the Bible does play well for gold, like as far as, as, as what we can tell,
01:37:45.820what I can read. I do believe that God did give us gold as a currency because it's not a commodity.
01:37:51.480It's not something that's used in many manufacturing processes or equipment. It's
01:37:58.120some like limited, but ultimately it's just this beautiful metal that nobody really knows what to
01:38:04.180do with. But for some, for whatever reason, we can't shake it. The banks, as hard as they've
01:38:08.800tried to manipulate it, like you said, through the ETFs in London and New York, they can't shake it.
01:38:14.800And I think it's because ultimately you, you can't defy something that God made for a certain purpose or, or, you know, it's like if, if, you know, God made a woman to, to bear children and to, and to be in the home, like you can try as you will to, to, to convince everybody that that's not the way it is, but it's still the way it is.
01:38:36.840even if nobody believes it, because that's how God made it or made them the same, I think could
01:38:42.500be said about gold and time will tell that like, if he made it for, for, for money so that it
01:38:46.900couldn't be manipulated and we couldn't perpetuate wars and spending like we are, then eventually
01:38:52.460the, the hens are going to come home to roost. And I think that will be a potentially very
01:38:57.880interesting time for holders of gold. So, okay. Tell that was, that was wonderful. That was great.
01:39:05.400uh i'm i'm excited right now i'm just logging into my bank and i'm gonna go to my upma account and
01:39:11.420take all my money out of the system uh tell me tell me a little bit about the uh services you
01:39:17.780guys offer because i think it'd be helpful not as like this isn't like a huge sales pitch or
01:39:23.880whatever but there are some things that are that are really interesting that you guys offer uh the
01:39:29.440ira one i think is particularly interesting because while we were talking i was looking at
01:39:34.840trading view as I do on a daily basis. And you pull up the S and P and Oh, surprise, all time
01:39:42.220highs, right? And it has been for a long time. And eventually they won't be at all time highs.
01:39:48.520And so it may be, you know, I'm not a financial advisor. Talk to Joe Garrison if you want,
01:39:53.820if you want that, but it may be a pretty good time to start thinking about taking some of your
01:40:00.980ira money and putting it into gold most people don't even know that you have the option because
01:40:06.240a lot of people just assume the etf which is paper gold it's not real gold but you guys offer
01:40:12.980a service that's a little bit different than that right correct the yeah a brief like moment on the
01:40:18.800etfs like the the etf is is nothing more than just exposure to the price of gold which is fine but
01:40:27.120it's not real gold, right? They, they have a lot of gold in their vaults in London and New York,
01:40:31.940but it's just a mechanism to manipulate the price. And hopefully my Bitcoin brothers will
01:40:37.000not experience the same pain that we've had in gold with all the ETF manipulations. Um, but yeah,
01:40:42.780I would be very cautious. Uh, if, if I, you know, just wanted to be into gold, I wouldn't just go
01:40:48.300and buy shares of the SLV or GLD. Um, and so I'll start first, like, thank you for, for the
01:40:55.280opportunity to talk about that. But the mission of, of this podcast, I think for us is really just
01:40:59.980to help Christians consider, uh, these questions and, and, and whether you're going out and buying
01:41:06.080gold from your local coin shop or online from a reputable dealer like SD bullion or something,
01:41:12.220that's a win for us. Uh, we're, we're, we're, that's what we want. Um, but if you're, if you
01:41:18.300do have an IRA that, you know, you're considering what's the best route forward and, and maybe you
01:41:24.400don't have a great financial advisor, like, like Joe looking out for you, there's, there's a lot
01:41:29.300of risks there, like we've discussed. And so what one of our most popular services as of late has
01:41:34.900been converting IRAs into gold and silver. And how we do that is very simple. We, we basically set up
01:41:42.760a self-directed IRA for our client. They, they tell their fund managers that they want to liquidate
01:41:48.820and, uh, and put that money into their self-directed. And then that self-directed IRA
01:41:54.620just directs the money into our vault in, in Alpine, Utah. And we are a certified depository
01:42:02.480for those funds and the gold and silver is just sitting there. And, uh, and it's producing the
01:42:07.320returns that we've discussed, but it's also, you know, has the ability to, you know, to be leased
01:42:12.340out and to gain a bit of a dividend if, if that's what you're into. And we can hold on, tell me what
01:42:17.440lease what do you mean so one of the main critiques of gold is that it doesn't produce
01:42:23.380returns right like i i'd said earlier it's a non-productive asset so so yeah that's one of
01:42:29.180the criticisms uh-huh and and i would say that's fine for me i i still want gold but we are trying
01:42:37.680to solve problems and and answer the critiques and so one of the programs that we offer is a
01:42:42.800lease of your gold to a company called Goldback Incorporated, who's making a alternative currency
01:42:49.020that's very popular, but that's for another time to discuss. But they are writing gold contracts
01:42:55.140within your IRA to lease that gold out for a period of 12 months at a time for a rate of
01:43:01.380return of two and a half percent. And you are getting paid in gold. So two and a half percent
01:43:08.520doesn't sound great. But when you're getting paid gold on gold, that's a very different thing
01:43:12.700because it's not just numbers on a screen. If you had a hundred ounces of gold, the following
01:43:17.280year, you're going to have 102 or 102 and a half. That, that is, that is real growth, right? Like
01:43:23.460that's an extra two ounces of gold in your account, uh, give or take. And, and so that's an
01:43:29.660option that we offer. And again, these are, you know, we see it every day. Uh, the fund managers
01:43:36.360and the Morgan Stanley's of the world, they get really upset when their client calls them and
01:43:41.740says, Hey, I want to pull all my money out and I'm moving into self-directed IRA and I'm putting
01:43:47.580it into gold. And without a doubt, you know, they always try to, you know, kind of down talk gold
01:43:54.600and say, Oh, are you sure you want to do this? And, and most people are convinced in their minds
01:44:00.540and they go through with it, but you can tell that it's a, it's an emotional event for these
01:44:04.980fund managers. You know, we we've done a lot of different sizes, but like I said, even a hundred
01:44:09.100thousand is a big deal. And so that's a very, you know, simple process. A lot of guys, you know,
01:44:14.720in their late twenties, mid thirties might have, you know, most of their, you know, decent cash
01:44:20.040sitting in an IRA that I hate to break it to you. Like wall street locked you up for, for 30 years
01:44:27.580plus, you know, you can't touch that until 59 and a half, unless you have an emergency or some kind
01:44:34.600of exception like we did during COVID. So if you're going to be locked up for that much time,
01:44:40.340don't expose yourself to wall street, consider moving it into gold and silver and protecting it
01:44:45.920in a, in a physical vault that you can actually walk into. It's not Delaware. It's not Las Vegas.
01:44:50.860It's not New York where they're going to, you know, put a gun to your face. If you walk up to
01:44:55.380the front door of the Brinks vaults, you can actually, you know, walk in, see the storefront
01:45:00.440and ask for a tour of the vault. And then you can participate in the audits and know that the
01:45:05.820ounce for ounce, you know, it's there. It's not being loaned out unless you tell us to,
01:45:11.280to at least to do that lease program. But if we say it's there and you tell us to leave it there,
01:45:15.760and then that's where it is. So that's, that's a really popular thing to do right now, whether
01:45:21.480you're in your, in your mid thirties or whether you're staring down the barrel of retirement in
01:45:26.300the next couple of years it it's a it's a very uh i think positive thing to do especially given
01:45:33.100the the conversation that we've had today yeah but so even with the lease program it's not
01:45:37.840fractional reserve it's not like you're taking and making you know a whole bunch more like gold
01:45:44.260loans off of that that gold that you're leasing is going into making these gold backs which are
01:45:49.680you know, essentially laminated, uh, paper with, with, uh, gold in it. Uh, and, and so it's, it,
01:45:56.660it's actually going, it's, it's, it's a manufacturing company. Like you're, you're
01:46:00.520literally just lending your gold to a manufacturing company who's then using the gold to create a
01:46:06.300product that is, there's very popular. Um, but it's, it's, it's a little bit ahead of its time,
01:46:11.360but, but regardless, like they're creating a cash replacement, uh, product and it requires gold as
01:46:18.120an input yeah not and we like we said not many manufacturing processes require gold as an input
01:46:23.540and so so that's that's the opportunity yeah and so i i didn't mean to knock gold when i said it
01:46:29.900was a non-productive asset that's just a class of assets because most of you like a non-dividend
01:46:35.180paying stock is a non-productive asset it doesn't produce income when you hold it like real estate
01:46:41.280does you know ideally you'd make income when you hold real estate but but anyway uh so you
01:46:47.920essentially have a service though that offers the the uh insurance policy of owning gold physical
01:46:55.380gold in a vault that you can tour and audit and you have a program in which you can essentially
01:47:02.360receive gold dividends on leasing your gold that seems like a really good option for you guys to
01:47:08.220consider if you're interested in uh gold otherwise can people call you up like and and buy gold
01:47:15.440yeah the the with personal funds it's the same exact thing just we have less less uh handcuffs
01:47:22.080there's certain processes we have to follow with the ira and the custodian and the distributions
01:47:26.460and all that but we do the exact same thing with with people who just have cash sitting around that
01:47:32.140they want to dump into gold uh and and and we're happy to ship it to you uh direct you know to
01:47:37.760your house or you can leave it in the vault and and there's some benefits there to the liquidity
01:47:43.300of of having it in the vault because then if you need to liquidate you just get a check or or an
01:47:47.780ach next day and so yeah we're happy to talk through that stuff uh but but hey i mean go to
01:47:54.720your local coin shop if you have one get to know them right because those guys are on the ground
01:48:01.560of the underground financial system. I mean, people look at coin shops and I did as well
01:48:08.420as if they were like trinket shops and you go in and it's like old guys, you know, looking at
01:48:13.980Morgans and old, old coinage from, from the 1800s. And, and sure, there's some of that,
01:48:19.900but what you don't realize is that these guys are moving millions and millions of dollars every year
01:48:26.160for their clients. And it's because there's a, there's a small percentage of people who are
01:48:32.620still using gold and silver as their savings account, and they need to get into gold and
01:48:38.020get out of gold. And those coin dealers are the on the ground mechanism for, for liquidity and
01:48:45.500for getting in. And so I think it's a good relationship to have. Most coin dealers are
01:48:51.280are pretty cool guys. Uh, they're almost always owner operated. Um, but then there's online stuff
01:48:57.380and then, and then anything more sophisticated than that, please give us a call. And we'd love
01:49:01.620to tell you about what we do and why we're doing it. Yeah. You guys should definitely support,
01:49:06.460uh, Alpine, you know, Jace's, uh, business and, and, uh, buy something from him. Talk to him
01:49:13.200about the IRA stuff. Cause that's a really interesting thing is far better than ETFs.
01:49:18.040Um, so speaking of ETFs, uh, I'm just curious, what are the biggest risks to gold?
01:49:47.160I wouldn't even waste a lot of time, uh, spending a bunch of money on, on a, on a vault or something
01:49:52.800for my house. Cause that's just, that's just a target for the, for the criminal. I'd rather
01:49:56.780just kind of stash it somewhere if I was keeping it in my house. But, uh, yeah, like I said,
01:50:01.980the ETFs and the, and really the price manipulation is the biggest risk of gold, so to speak.
01:50:08.140The, the, the fact is like, we, we, we don't have a control over the price right now. We know that
01:50:13.880it's undervalued. We know that there's a lot of room for price growth. Gold's at like 2350 right
01:50:18.860now today. Generally the accepted target price is 2600 by the end of the year and 3000 by the end
01:50:25.780of 2025. That's like Goldman Sachs and guys who are finally having to admit that like, yeah,
01:50:30.380we're going to see some gold price growth, but we would see some serious gold price growth if they
01:50:35.980took their hands off the wheel and let the market do what it would naturally do. And that's mostly
01:50:43.180based on Chinese and Indian buying, as well as sovereign wealth funds and central banks
01:50:49.820around the world who look at Russia and what happened with the seizing of their 300 billion
01:50:57.220or whatever it was in dollars and are saying, yeah, I don't want that to happen to me.
01:51:01.460So here, take my dollars and give me gold.
01:51:04.920That's because of the risk of the dollar.
01:51:08.120But also, you know, there's the manipulation in price in London and New York.
01:51:13.180And then, and then you watch the Shanghai market overnight and you'll see the prices start to go up. And then the London market opens up around 2 a.m. my time. And I, and I see the price start to go down. And then 6 a.m. the New York market opens, you know, and this is again our time and the price goes down even further.
01:51:29.860So that's, I'd say, the number one risk outside of just pure theft. There's also the risk of there's a lot of predators in the gold market who are waiting for you to have this realization that gold is money and everything else is credit and that the financial system is really risky.
01:51:48.100And I've actually experienced this myself during COVID because that's kind of when I started seeing the writing on the wall and doing more research.
01:51:55.560And there's people there waiting with open arms to take advantage of you and your ignorance about gold and silver.
01:52:02.280And so there's IRA companies, Patriot Gold or Noble Gold or whatever.
01:52:07.880And these aren't all bad companies, but they're waiting to tell you, oh, yeah, you should buy this collectible coin and put it in your IRA.
01:52:15.260Or, oh, yeah, you should get these proof coins.
01:52:17.640And it's like, no, no, I just want gold and silver.
01:52:20.340I don't want to speculate about these numismatic coins, but they create this market for numismatics
01:52:27.060by taking advantage of people who woke up to the fact that the dollar is risky, but
01:52:31.820now we're just thrown into another, you know, pool of sharks that are trying to take advantage
01:52:41.040And, uh, and yeah, I would stay away from collectibles and numismatics just in general,
01:52:44.940because it's not, we're not here to, uh, to do that. We're here to deal in, in real currency.
01:52:50.060And, and that is not speculative. That's just, uh, an alternative to, to the dollar.
01:52:56.220Yeah, it is really interesting. So I've got the, uh, us.clock, uh, website pulled up.
01:53:02.440And, uh, one of the things that you should be aware of is that, uh, we had talked about paper
01:53:08.140gold. Like you said, the ETFs are essentially just exposing you to the price of gold. Um,
01:53:13.620There are right now, because of the way that the ETFs operate, they operate on 216 paper, like paper gold to every real ounce of gold.
01:53:26.100So they have one, I'm sorry, 126, 126 ounces of paper gold to every one real ounce of gold silver, though, for every one ounce of silver, it's 400 paper ounces.
01:53:42.260And so this is one of the means by which they manipulate the price is because if you look
01:53:47.080at these ETFs, like you said, SLV or GLD, they are selling you paper, gold, paper, silver.
01:53:54.380And so they are taking your money for the value of silver, for the value of gold, and
01:54:00.260they have paper, not real silver, not real gold.
01:54:04.540And so they are able to manipulate the price of silver and the price of gold through essentially
01:54:12.020ious yep is essentially what they're doing and so the one of the speculations is that if somehow
01:54:20.040that goes away what would happen to the price well the price would obviously go up uh astronomically
01:54:27.200so anyway it's just one of the things that to be aware of when when uh jay says that they can
01:54:32.700manipulate the price that's one of the ways because they never have to worry about you taking
01:54:37.120delivery because you know a share of that etf is supposed to be an ounce or whatever but they
01:54:43.380they will make it so difficult for you to ever take delivery of that metal that they never
01:54:48.680actually have to worry about how much paper they're creating because they'll just pay you
01:54:52.320off in cash and when push comes to shove and you start watching the price of gold and silver
01:54:58.240go up and up and up and up do you want cash no you want your gold you want your silver
01:55:05.140And so that's where we come in. We're like, no, absolutely. We are happy to send you your gold. We're happy to have you pick it up. You know, that is your gold and we are ounce for ounce ready to deliver. But that's not the case with ETFs.
01:55:19.120Yeah. So, Jace, I know that you're huge proponents of building the new Christendom. You are all in, right? And are actually doing it. You've got some interesting things you're working on with that. But would you have any other recommendations than gold? Like you said, gold is a good insurance policy. Gold is a good thing to have. What else do you think should be something that someone should look at?
01:55:45.620like we were talking about earlier gold is is the starting point and it's a foundational
01:55:52.640tool it's not the end zone right it's it's not the end all be all i think we mentioned right
01:56:00.440the the one talent guy versus the 10 talent guy like we're working to to build up to become
01:56:07.500the one talent guy first who buried the talent in the ground which was a precious metal and pulled
01:56:14.480it out and it was worth the same thing. That's where we're trying to get to just to start,
01:56:19.160but we're not going to stop there. We're looking to become the two talent guy, the five talent guy,
01:56:25.620and what kind of things did they do to produce a return? And, uh, and I've, I've been in real
01:56:32.940estate for about a decade. You've been in gold for about five years. And we've also been starting,
01:56:38.340you know, small businesses of, of various types. I would say once you get to the point where you
01:56:43.460can have some real savings, right? Like it doesn't happen overnight. It's not easy and it's not for
01:56:47.560everybody, but start by preserving wealth and then look to your local community about where that
01:56:53.840wealth can be deployed to build small, humble beginning businesses. And, and I think the best
01:57:00.900thing you could do is, is ask what does my community need? Not just like, what am I passionate
01:57:06.920about? Or what did I think looked cool on YouTube? Like look around at your community and, and beyond
01:57:13.380your church too right because i always tell guys hey don't don't expect the church to like fund
01:57:18.640your you know your new business uh because they're just your pokemon trading card company that you're
01:57:24.480starting yeah they're just not gonna do it and you ask any of the business owners around here
01:57:28.500and they'll say like yeah five percent ten percent of my business is church maybe but look around at
01:57:33.840the broader community and find out what what those businesses are and i would say yeah once you get
01:57:39.560that war chest or that nest egg of, of wealth, hopefully preserved in, in gold, uh, or something
01:57:45.920else that's, that's solid, then go out and, and build small businesses because I've been in both
01:57:52.440real estate and business. And I've seen the returns on the business side go way faster.
01:57:58.740And, and, and not that speed is always the key where we're making haste slowly, but, but we need
01:58:05.120to print money right now, like in a good way. Like we, we need to go out and hustle.
01:58:09.260And I think anybody who's discouraged about real estate and the prices and the interest rates,
01:58:14.720you know, it's a shame. I used to buy houses for $65,000 here in Ogden and now I can't get
01:58:20.820one less than 300 K plus the interest rate. I mean, it's sad, but don't despair. Look at,
01:58:28.640at making wealth in other ways and trust that you can actually make wealth faster by coming
01:58:34.820up with a good business idea or partnering with somebody who has a skill that's ready to break
01:58:39.460out, like a plumber in your community who's a journeyman or who's got a lot of experience and
01:58:45.220is ready to maybe break away. And maybe you're a nine to five guy and you can't really do that,
01:58:51.020but perhaps you could do the accounting and give him $15,000 to then take a small equity stake in
01:58:58.320his business and help him grow it. And that'd be a great start. There's other things out there,
01:59:03.660right? Stuart and I are working on opening up an insurance brokerage. And, and these are things
01:59:08.940that, you know, I don't like insurance. I'm not super passionate about it, but the reality is
01:59:13.560Stuart is either. Is he? Well, he's, you know, he's good at it. And so, you know, that's one
01:59:19.700of those things where everybody touches insurance, right? And nobody wants to talk to their insurance
01:59:25.140guy. Like I never want to call state farm or American family, but you know, we are as Christians
01:59:31.700can offer better services and, and yeah, we're all offering the same product, right? Insurance
01:59:36.500markets heavily regulated, but would you rather talk to Stu or some 23 year old who's getting paid
01:59:41.880by American family just to, you know, check the box. So, so there's things like that where you
01:59:47.000just have to look at like, where are people generating wealth? Um, and what can be done
01:59:51.720with a generally low overhead? I always encourage people, you know, keep the overhead as low as
01:59:56.940possible uh while you start and then invest more capital as as the customer demands um so yeah so
02:00:05.180bottom line is like i'm very bullish on small businesses uh i think it's it's easier said than
02:00:10.680done but i think the opportunities are out there we always talk about the boomer businesses that
02:00:15.740are going to be passed down to no one or bought up by a big corporation i think there's going to
02:00:20.460be opportunities. I would also look at like seller finance options of real estate. I think
02:00:26.920there's a lot of older folks who are getting out and maybe don't want to recognize a big capital
02:00:31.360gain windfall of selling their property and would consider, you know, taking a shot on a younger guy
02:00:37.140who's, who's, who's local, right. Who's going to, you know, take over that asset. And so that,
02:00:42.720that, you know, those kinds of creative real estate investments are hard to find, but they're
02:00:45.920out there. And, uh, and then yeah, there's more of them than you'd think. Cause I have been looking
02:00:50.520now. Yeah. Right. Especially now. And it pays, it pays to know your neighbors. It pays to know
02:00:56.080your community that will give you an idea of, of who's looking to sell and what, what might be
02:01:01.340on the market. And then again, knowing what your community needs is a, is another thing we, you
02:01:07.140know, our gold business that we started two years ago, there's no brokers around for 20 minutes,
02:01:11.96020 minutes from here. You know, that's not a huge journey. I know a lot of, I was looking at
02:01:16.500Bozeman, Montana the other night. There's not a good gold dealer in Bozeman for, you know,
02:01:22.800an hour or more drive. And Bozeman is one of the fastest growing communities in the country. And
02:01:29.260the average price of a house is three quarters of a million dollars. You know, so if there's
02:01:32.560a listener out there who lives in Bozeman, you know, that's the kind of thing we're trying to
02:01:36.700identify where the holes in the market, where the gaps, where we can use high integrity,
02:01:41.120i trust christian principled men and women to to build businesses that will be blessed i think
02:01:48.940ultimately by god because of that level of integrity and and excellence that we can provide
02:01:54.560yeah that's really interesting i recall elon musk was interviewed this was i don't know 2022
02:02:00.260or so and he was asked about cryptocurrency because he was you know about dogecoin whatever
02:02:05.640and he's like yeah crypto's fun it's fine you know the stock market's great whatever
02:02:09.700because he obviously is highly involved in tesla and he bought twitter and stuff like that he's
02:02:16.420like if you really want to create wealth though you have to provide a product or service that
02:02:20.480people want you have to bring value to the marketplace the the investing stuff is fine
02:02:26.900but if you want to create wealth you have to bring value to the marketplace and that's that's really
02:02:31.500really good and it's it is a gap in this series is starting a business and i think i think like
02:02:39.100you said there are lots of opportunities once you start to look for opportunities you will almost
02:02:44.360be overwhelmed with opportunities i always laugh when i have younger guys in my office and they're
02:02:48.580like i want to you know i want to escape my cubicle and my wage slavery and all that and i want to i
02:02:53.860want to start a business what should i do like uh the opportunities i i have 12 that i've had to say
02:03:01.920no to like you just have to look for opportunities and they are everywhere especially now when you
02:03:07.780get people that are a majority of the population that is satisfied with their w2 government income
02:03:12.700it's not just here you know there's a lot of government work here but when the government
02:03:16.820is the biggest employer in the united states there are a lot of government workers that are
02:03:22.980satisfied with being government workers there's not a lot of people that are out there to hustle
02:03:27.340you can see the state of labor in the united states since uh you know 2020 when coven went
02:03:33.040through service is just terrible all you have to do is be a good christian man and and be pleasant
02:03:39.920and honor your word and you're going to be the the cream rises to the top right so uh that's
02:03:46.640what i'd say i think seller financed boomer businesses are another good opportunity creative
02:03:52.040finance right now is one of the opportunities that you should be looking for both in real estate and1.00
02:03:58.460in business because there are people, there are boomers that are trying to get rid of their0.99
02:04:03.000businesses. It's really hard to sell a business, um, at, you know, in certain areas of the country.0.91
02:04:09.280And there could be some really good opportunities, even if they're not advertising as seller
02:04:13.780financing, you should definitely be, uh, thinking about creative financing for some of these cash
02:04:20.780flow, positive businesses that have a reputation in the community that have customers on their
02:04:26.560books. Uh, those are, those are another good opportunity. Um, like you mentioned. And so
02:04:31.680business examples, just to butt in here and you can edit it out. But you have two things that we
02:04:39.080looked at just in the last week, right? I've got an accountant and I've been working with him for
02:04:44.30010 years. Great guy. You know, he's, he's in the seventies and he, you know, he's sitting in my
02:04:49.700office and Stu's there and we're going through stuff, but then we're talking about what we do.
02:04:53.920And he's, he just, he really likes us. Right. And he does a lot of taxes for the, for the folks in our church. Cause we don't really have a, an EA or a tax preparer type. But he said to me, he's like, just find me a guy, find me somebody who I can train and who will work with me and work hard. And, and I'll pass him my whole book of business. You know, he's not going to be around forever.
02:05:14.360and so so that's an example of it's it's not maybe as obvious but you find these older guys
02:05:21.920who are professional service types and if you're willing to go out and learn a new skill or do it
02:05:27.020part-time for a little bit while you while you build up and yeah not everybody has an accounting
02:05:30.780degree or what have you but but that's an example like this guy is making over 300 grand a year
02:05:35.460easily and probably could make more if if he was you know equipped motivated to do it yeah or had
02:05:42.140a hungry, young Christian guy working for him. And then another example we had is like my HVAC
02:05:49.800contractor who has helped tons of people in the church. And we don't have an HVAC guy in the
02:05:55.480church presently, but he's an awesome guy. He's 56 years old. He wants to retire. He's already
02:06:01.640got his property all picked out and owns his grandpa's old home in central Utah where he
02:06:06.880wants to retire. And he's, you can tell he's burned out, but his phone is going off the hook
02:06:11.980because he's providing a good service. He's, he has Christian morals. He may not be part of our
02:06:17.220church or he may not even be Christian, but he's providing a good service to the community that is
02:06:23.260lacking because everywhere else is a corporate owned branch that is looking to take advantage
02:06:29.800of old, old Ms. Smith or, or the young person who just needs a refrigerant update. And instead of a
02:06:36.200new, a new HVAC system, right? There's predators out there that, yeah, the market might be flooded
02:06:41.320with them, but the number of guys who are honest and hardworking and doing the right thing by the
02:06:46.200customer is extremely small, at least where I look around. And so I approached him and I said,
02:06:51.940Hey, if I find you a guy to be your apprentice and HVAC, by the way, it doesn't require licensing.
02:06:56.400So it's a great opportunity to jump right in. And if I find you a guy and invest in him and maybe
02:07:03.100even cover the wage gap or whatever. Cause apprenticeships don't, don't make very much
02:07:06.940money, but, but we can ultimately earn his book of business by helping him to retire.
02:07:13.000And, and, and he looks like a guy with a pickup truck and some, some tools in the back,
02:07:17.460but he is a business. He's making a living wage and we can grow that kind of thing. So maybe find,
02:07:24.280find things like that. Find a guy in your community who, you know, who has some wealth
02:07:29.120and maybe just doesn't have the time to do anything with it.
02:07:32.760And if you're waiting, dump it in gold and wait
02:07:36.200and know that you're pushing pause on the inflation scale
02:07:40.780and you're holding the value until you can identify
02:07:43.920the real investment that you want to be in.