Brett Oland： Unique style of gold based banking...
Episode Stats
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152.91023
Summary
Join Marty as he sits down with the President and CEO of the Canadian Federal Reserve Bank of Toronto to discuss what it takes to stand up for your employees and clients in the face of constant inflation. Marty and his team are dedicated to standing up for their employees and standing up to the government.
Transcript
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And we did a lot of things that made us a lot more outstanding.
00:00:05.040
First of all, we didn't force any of our staff to get vaccinated with the COVID-19 shot,
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which is much different than the bigger banks, which actually forced their staff to get vaccinated.
00:00:19.600
Secondly, when the trucker convoy was going on, we were one of the first ones,
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if not the only ones, to stick up our hand and say, this is not right that you're freezing people's bank accounts.
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And we were lucky enough that we never had to freeze anybody's accounts.
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As we soon noted just previously, that it was deemed illegal to actually freeze people's bank accounts.
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And then thirdly, we're very concerned about people's well-being within our organization
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and see the constant inflation that seems to be worming its way through society today
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And we're making efforts to basically protect our membership and our organization
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against what we see as constant inflation going forward throughout the years.
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Hence, why we're at the Bitcoin rodeo and why we continue to absorb gold and silver on our balance sheet as an organization.
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Yeah, I mean, the first two parts are outstanding.
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I mean, you're an organization that's standing up on principle for your employees and for your clients.
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They just kind of go with the flow and the government push.
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And, you know, I just really applaud you guys for making that stance because we know the pressure had to be huge.
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But the difference, that's something that takes a little more explaining.
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But it's really important that you're bringing more of a metal-based security,
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a precious metal-based security to back the assets of your bank.
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And, you know, it acts as, I guess, a hedge against fiat currency.
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When we first started looking at this, I think it took me by surprise,
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and this goes way back to 2008 during the great financial crisis,
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where governments around the world basically bailed out all the banks.
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And at the time, I thought that would be incredibly inflationary.
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I turned out to be wrong in that regard just because it was tied up in the banking system.
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But this time, when they printed trillions and trillions of dollars in 2020
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to give COVID relief and checks out to everybody,
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basically they locked everybody in a cage, stopping production,
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And so I knew that was going to be massively inflationary.
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And sure enough, we're starting to see energy prices, housing prices, grocery prices.
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Just about everywhere you look, you're seeing this constant burdened inflation.
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And that is because the governments around the world
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injected massive amounts of currency into society.
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So now we wanted to be able to protect our membership
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and our organization against that constant inflation.
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And you need to do it with a hedge such as gold and silver,
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which has stood the test of time throughout history
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And basically, the motto is, a rich man's suit 2,000 years ago costs about a gold coin.
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A gold coin in Canada has a face value of about $50,
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but it actually has a market value of about $3,300.
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So if you think about a fine man's suit, a fine tailored suit, shoes, belt, hat if you want,
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cane if you want, it has the same amount of buying power.
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And so we're leaning on that within our organization to basically protect our membership
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from that inflation that is going to be persistent over the next coming decade.