1 00:00:04,800 --> 00:00:09,360 Speaker 1: On this episode of News World. Rising gas prices, supply 2 00:00:09,440 --> 00:00:14,200 Speaker 1: chain issues, the highest inflation in forty years, on certainty 3 00:00:14,200 --> 00:00:18,200 Speaker 1: in the markets, and interest rate increases. All of these 4 00:00:18,239 --> 00:00:23,080 Speaker 1: factors add up to economic instability for many Americans. When 5 00:00:23,120 --> 00:00:25,919 Speaker 1: I talk with people and the subject of the economy 6 00:00:25,960 --> 00:00:29,280 Speaker 1: comes up, almost everyone wants to know why are we 7 00:00:29,360 --> 00:00:33,800 Speaker 1: facing such a challenging economic situation and how can they 8 00:00:33,840 --> 00:00:37,279 Speaker 1: protect their own finances. So I want to talk with 9 00:00:37,320 --> 00:00:41,240 Speaker 1: someone who has been advising people on their personal finances 10 00:00:41,240 --> 00:00:45,440 Speaker 1: and investments for over twenty five years. That's why I'm 11 00:00:45,440 --> 00:00:50,080 Speaker 1: really pleased to welcome my guest, Charles Thornton. Charles served 12 00:00:50,080 --> 00:00:52,680 Speaker 1: in the Air Force for five years who was stationed 13 00:00:52,680 --> 00:00:56,000 Speaker 1: for three years at Ramstein Air Base in Germany. After 14 00:00:56,040 --> 00:00:59,200 Speaker 1: the Air Force, he returned to Los Angeles and began 15 00:00:59,280 --> 00:01:03,400 Speaker 1: working as a talk He is now the CEO of 16 00:01:03,600 --> 00:01:17,480 Speaker 1: Legacy Precious Metals. Charles, welcome and thank you for joining me. 17 00:01:18,600 --> 00:01:20,400 Speaker 1: Let's start with the Air Force. You and I were 18 00:01:20,440 --> 00:01:23,360 Speaker 1: talking earlier about the fact that as a kid, my dad, 19 00:01:23,400 --> 00:01:26,559 Speaker 1: who was in the Army, had served at Stuttgart, which 20 00:01:26,600 --> 00:01:28,840 Speaker 1: is about two and a half hours away from Ranstein. 21 00:01:29,440 --> 00:01:32,640 Speaker 1: You were a jet mechanic for F fours and F sixteens. 22 00:01:33,319 --> 00:01:35,920 Speaker 1: And in that period, what were the lessons you took 23 00:01:35,959 --> 00:01:39,680 Speaker 1: away that you brought back home with you. Interesting question. 24 00:01:40,240 --> 00:01:42,320 Speaker 1: You know. One of the things about our job there 25 00:01:42,360 --> 00:01:45,560 Speaker 1: in Germany, and back then there were two Germanis, we 26 00:01:45,560 --> 00:01:48,160 Speaker 1: were in the middle of the Cold War, the job 27 00:01:48,400 --> 00:01:52,120 Speaker 1: was to be the first line of defense. So with 28 00:01:52,200 --> 00:01:55,640 Speaker 1: that and this seriousness of that job, you know, it 29 00:01:55,680 --> 00:01:59,000 Speaker 1: was always to be aware, to be prepared, to look 30 00:01:59,040 --> 00:02:01,880 Speaker 1: at the inevitable bull and say I'm prepared, regardless of 31 00:02:01,880 --> 00:02:05,440 Speaker 1: what it takes of me and my fellow service members 32 00:02:05,840 --> 00:02:09,720 Speaker 1: to be ready. And I think that's something that when 33 00:02:09,760 --> 00:02:11,560 Speaker 1: we really look at it, it's a lot to ask 34 00:02:11,600 --> 00:02:15,040 Speaker 1: of a young man or a young woman, but it 35 00:02:15,160 --> 00:02:18,200 Speaker 1: creates something in you. It creates you to be better 36 00:02:18,240 --> 00:02:20,600 Speaker 1: than who you are. You work with a group of 37 00:02:20,600 --> 00:02:24,000 Speaker 1: people and you depend on them as they depend on you, 38 00:02:24,639 --> 00:02:27,640 Speaker 1: and it creates for a better society, I believe. So 39 00:02:27,760 --> 00:02:30,760 Speaker 1: when you were doing that, did you have this sense 40 00:02:30,800 --> 00:02:33,440 Speaker 1: that in your time in the Air Force you kind 41 00:02:33,480 --> 00:02:37,000 Speaker 1: of grew as a person? Absolutely? You know, we used 42 00:02:37,000 --> 00:02:39,040 Speaker 1: to joke I joined the service as a boy, I 43 00:02:39,160 --> 00:02:41,560 Speaker 1: left as a man, and I think That really means 44 00:02:41,560 --> 00:02:44,760 Speaker 1: something because it changes your parameters. When you do something 45 00:02:44,880 --> 00:02:48,320 Speaker 1: as giving as saying I will devote my entire being 46 00:02:48,520 --> 00:02:51,320 Speaker 1: to make sure that we have what we have in America, 47 00:02:51,600 --> 00:02:54,040 Speaker 1: it changes the way you think. Become a man or 48 00:02:54,080 --> 00:02:57,360 Speaker 1: woman who have a place in society to make things better. 49 00:02:57,400 --> 00:02:59,440 Speaker 1: That's our job to protect and to make it best 50 00:02:59,480 --> 00:03:02,720 Speaker 1: for everyone. As I understand it, you actually met your wife, 51 00:03:02,760 --> 00:03:06,519 Speaker 1: Maryland while serving in the Air Force. I absolutely did. 52 00:03:06,680 --> 00:03:10,000 Speaker 1: That's thirty five years ago, but yeah, that's where we met. 53 00:03:10,080 --> 00:03:13,040 Speaker 1: We were both first line of defense, and it's been 54 00:03:13,080 --> 00:03:15,200 Speaker 1: a wonderful thing for me. You know, donal a grow 55 00:03:15,200 --> 00:03:16,519 Speaker 1: as a man. I learned to be a husband and 56 00:03:16,639 --> 00:03:19,720 Speaker 1: learned to be a father from that, and to devote 57 00:03:20,200 --> 00:03:23,560 Speaker 1: to someone more than you do to yourself. You hear 58 00:03:23,600 --> 00:03:26,480 Speaker 1: the passage that marriage is a fifty fifty thing, and 59 00:03:26,480 --> 00:03:28,560 Speaker 1: we don't believe that. We believe it's one hundred percent. 60 00:03:28,600 --> 00:03:30,440 Speaker 1: You've got to give everything that you have to the 61 00:03:30,480 --> 00:03:32,200 Speaker 1: other and then when they in turn do the same 62 00:03:32,240 --> 00:03:34,920 Speaker 1: to you. That's how a marriage lasts, that's how you 63 00:03:35,000 --> 00:03:38,040 Speaker 1: have long term success. So that's interesting. So it's sort 64 00:03:38,080 --> 00:03:41,000 Speaker 1: of one hundred one hundred rather than fifty to fifty. 65 00:03:41,280 --> 00:03:43,520 Speaker 1: That's a pretty good way to think of it. Now, 66 00:03:43,960 --> 00:03:46,520 Speaker 1: when you got out of the Air Force, it shows 67 00:03:46,680 --> 00:03:50,400 Speaker 1: Maryland's influence. You ended up in Los Angeles, which is 68 00:03:50,440 --> 00:03:53,680 Speaker 1: where she was from, and you began working in the 69 00:03:53,680 --> 00:03:58,720 Speaker 1: financial services industry as a stockbroker. Now, the transition from 70 00:03:58,760 --> 00:04:02,600 Speaker 1: being a jet mechanic in Germany to being a stockbroker 71 00:04:02,600 --> 00:04:07,880 Speaker 1: in Los Angeles, what was that like? It definitely was different. 72 00:04:08,400 --> 00:04:12,640 Speaker 1: But for me, being a broker is really about serving 73 00:04:12,880 --> 00:04:16,360 Speaker 1: your customer, serving your clients, doing what's best for them, 74 00:04:16,360 --> 00:04:19,279 Speaker 1: making sure that they have the stability to meet their needs. 75 00:04:19,680 --> 00:04:22,239 Speaker 1: And when I really looked at it at an expanded view, 76 00:04:22,560 --> 00:04:24,320 Speaker 1: you know, it's kind of the same as being a 77 00:04:24,400 --> 00:04:27,799 Speaker 1: jet mechanic. I did what I did on those vehicles 78 00:04:27,839 --> 00:04:30,000 Speaker 1: to make sure that that pilot had that safety that 79 00:04:30,040 --> 00:04:32,719 Speaker 1: they needed, that jet was able to perform its function 80 00:04:32,760 --> 00:04:35,880 Speaker 1: to protect the United States and its interests, and also 81 00:04:35,920 --> 00:04:38,760 Speaker 1: that pilot who had a family as well. When you 82 00:04:38,839 --> 00:04:42,039 Speaker 1: have a servant's heart, you find the similarity in things 83 00:04:42,640 --> 00:04:45,320 Speaker 1: and it becomes easier to do things that way when 84 00:04:45,320 --> 00:04:49,239 Speaker 1: you have that heart. When you approached your new job 85 00:04:49,680 --> 00:04:55,400 Speaker 1: as a stockbroker and you're trying to understand what your 86 00:04:55,520 --> 00:04:58,760 Speaker 1: clients and your customers really need. I mean, how do 87 00:04:58,800 --> 00:05:01,360 Speaker 1: you go about doing that? I think it's a brilliant insight. 88 00:05:01,400 --> 00:05:04,880 Speaker 1: But it's also quite a change from what you've been 89 00:05:04,920 --> 00:05:08,320 Speaker 1: doing in Ramstein. You know it really was. But I 90 00:05:08,360 --> 00:05:11,960 Speaker 1: think it goes back to a mentality that's been said, 91 00:05:12,000 --> 00:05:14,080 Speaker 1: I have an older soul. I don't know if that's 92 00:05:14,080 --> 00:05:15,600 Speaker 1: a good thing or a bad thing, but I'll take 93 00:05:15,600 --> 00:05:20,280 Speaker 1: it as a good thing. But when you try to 94 00:05:20,279 --> 00:05:23,120 Speaker 1: help somebody, the best way to help is to actually 95 00:05:23,600 --> 00:05:27,920 Speaker 1: care to spend the time to find out beyond the surface, 96 00:05:28,320 --> 00:05:33,200 Speaker 1: what someone needs, what someone requires to meet their goal 97 00:05:33,360 --> 00:05:36,720 Speaker 1: or to have a retirement. You need to dig in. 98 00:05:36,880 --> 00:05:39,560 Speaker 1: You need to spend time and understand what that person's 99 00:05:39,680 --> 00:05:42,680 Speaker 1: goals are, what their fears are, what some of the 100 00:05:42,760 --> 00:05:45,280 Speaker 1: areas of concern are, some as I like to call them, 101 00:05:45,279 --> 00:05:47,400 Speaker 1: pitfalls that could get in the way of what their 102 00:05:47,440 --> 00:05:49,960 Speaker 1: goal is, so that you can tailor or a plan 103 00:05:50,560 --> 00:05:53,800 Speaker 1: to meet that goal. Right, it's not about me, and 104 00:05:53,839 --> 00:05:56,840 Speaker 1: it's not about my job. It's about them and their 105 00:05:56,920 --> 00:06:00,320 Speaker 1: dreams and their goals and their scenario. And the only 106 00:06:00,320 --> 00:06:03,800 Speaker 1: way to effectively help someone is to approach it from 107 00:06:03,880 --> 00:06:08,800 Speaker 1: that aspect, because not everyone needs what I need. I 108 00:06:08,960 --> 00:06:11,640 Speaker 1: have to build my business even then as a broker 109 00:06:11,880 --> 00:06:14,400 Speaker 1: based on what my client needs, because that is the 110 00:06:14,440 --> 00:06:18,479 Speaker 1: goal to keep a successful client, a happy client, is 111 00:06:18,520 --> 00:06:21,479 Speaker 1: to meet their needs. From that standpoint, as you paying 112 00:06:21,480 --> 00:06:26,760 Speaker 1: attention to your clients needs, you live through recessions in 113 00:06:26,839 --> 00:06:31,680 Speaker 1: ninety eight, two thousand and two, the housing market crash 114 00:06:31,720 --> 00:06:34,719 Speaker 1: in two thousand and eight, and yet you're trying to 115 00:06:34,760 --> 00:06:39,760 Speaker 1: provide security to your customers. How did all that affect you? 116 00:06:40,640 --> 00:06:44,280 Speaker 1: It was a interesting time as a broker. At the time, 117 00:06:44,320 --> 00:06:47,039 Speaker 1: we believe that equities were the center of the universe. 118 00:06:47,600 --> 00:06:50,599 Speaker 1: Everything revolved around them. And as I got to be 119 00:06:50,640 --> 00:06:52,880 Speaker 1: a little older and a little wiser and saw more 120 00:06:52,920 --> 00:06:55,520 Speaker 1: of what was happening in the world and talking to 121 00:06:55,600 --> 00:06:58,440 Speaker 1: my clients and seeing what their needs were, I started 122 00:06:58,520 --> 00:07:02,440 Speaker 1: running into this scenario where things didn't make sense right. 123 00:07:02,520 --> 00:07:06,760 Speaker 1: Equities weren't the be all end all I had preached 124 00:07:06,839 --> 00:07:09,880 Speaker 1: to be diversified, and as life went on, we realized 125 00:07:09,960 --> 00:07:13,320 Speaker 1: diversity means more than just different stocks. It means diversity 126 00:07:13,360 --> 00:07:16,800 Speaker 1: of asset classes and that's where the real protection comes. 127 00:07:16,800 --> 00:07:19,360 Speaker 1: And this is how I could truly meet customers needs 128 00:07:19,760 --> 00:07:22,160 Speaker 1: by being in not one basket of things, but being 129 00:07:22,160 --> 00:07:27,640 Speaker 1: in several different baskets. Most investments have a cylindrical approach. 130 00:07:27,960 --> 00:07:30,680 Speaker 1: There's ups and downs, and they follow a cycle. So 131 00:07:30,800 --> 00:07:33,960 Speaker 1: by finding out what that cycle was, you could meet 132 00:07:34,000 --> 00:07:36,960 Speaker 1: the needs by offering the objects that were different from 133 00:07:37,000 --> 00:07:39,640 Speaker 1: what you had a core belief in. That's how I 134 00:07:39,640 --> 00:07:43,400 Speaker 1: found metals. So explain that you found medals. What does 135 00:07:43,440 --> 00:07:47,240 Speaker 1: that mean? It means when I'm having heart conversations with 136 00:07:47,320 --> 00:07:50,760 Speaker 1: clients and doing the best that I could, my clients 137 00:07:51,200 --> 00:07:53,160 Speaker 1: always had an open line to call me and say, Hey, 138 00:07:53,160 --> 00:07:55,760 Speaker 1: this is what's happening. How do I stop this? As 139 00:07:55,760 --> 00:08:00,360 Speaker 1: I searched the markets, I realized the vehicle that made 140 00:08:00,400 --> 00:08:03,680 Speaker 1: sense because we were dealing with inflation then much like 141 00:08:03,760 --> 00:08:07,920 Speaker 1: we are now, didn't meet the true parameter. As I'm 142 00:08:07,960 --> 00:08:11,239 Speaker 1: doing my research, I see gold and I see silver, 143 00:08:11,560 --> 00:08:15,680 Speaker 1: and it's increasing in value. And I said to myself, okay, 144 00:08:15,840 --> 00:08:19,040 Speaker 1: why because the wise is important as the what. In 145 00:08:19,160 --> 00:08:21,840 Speaker 1: the research that I did, I came to the conclusion 146 00:08:21,880 --> 00:08:26,160 Speaker 1: that metals were that anti dollar investment. They had a 147 00:08:26,200 --> 00:08:29,440 Speaker 1: reverse relationship with the dollar, and that's what we were 148 00:08:29,480 --> 00:08:32,720 Speaker 1: really fighting. Inflation was bad but we were also fighting 149 00:08:32,760 --> 00:08:36,680 Speaker 1: dollar problems and it made sense. I said, Okay, let's 150 00:08:36,840 --> 00:08:39,960 Speaker 1: follow this path a little further in and that's when 151 00:08:39,960 --> 00:08:42,360 Speaker 1: metals really became a part of my life as a 152 00:08:42,400 --> 00:08:45,920 Speaker 1: personal investment of mine, but also recommending it to my clients. 153 00:08:45,960 --> 00:08:47,960 Speaker 1: And that was something that I was doing that I 154 00:08:48,000 --> 00:08:50,960 Speaker 1: couldn't even offer them at the time. As I understand it, 155 00:08:51,440 --> 00:08:55,520 Speaker 1: you've actually worked with four different gold companies, that is correct. 156 00:08:56,000 --> 00:08:58,720 Speaker 1: So once you got into gold and precious metals, you 157 00:08:58,800 --> 00:09:02,200 Speaker 1: really found that gave you a sense of comfort that 158 00:09:02,400 --> 00:09:07,200 Speaker 1: you could deal with your client's needs in a way 159 00:09:07,240 --> 00:09:09,600 Speaker 1: that was very different than when you were just giving 160 00:09:09,640 --> 00:09:14,800 Speaker 1: them paper equities. Absolutely, you know, there's very little out 161 00:09:14,800 --> 00:09:18,080 Speaker 1: there in the realm of precious metals for investors. A 162 00:09:18,120 --> 00:09:20,480 Speaker 1: stockbroker that's like a lawyer. You throw a stick and 163 00:09:20,480 --> 00:09:22,920 Speaker 1: you're going to hit two of them. So to help people, 164 00:09:22,960 --> 00:09:25,400 Speaker 1: you had to be able to offer something that's not there. 165 00:09:25,760 --> 00:09:29,160 Speaker 1: And that's where that led my first two jobs in 166 00:09:29,360 --> 00:09:33,400 Speaker 1: precious metals. We're learning the industry. After that, it was 167 00:09:33,480 --> 00:09:38,720 Speaker 1: time to make the precious metals industry more customer oriented, 168 00:09:38,720 --> 00:09:41,200 Speaker 1: and that's when I started my own companies because that's 169 00:09:41,200 --> 00:09:44,120 Speaker 1: how I could accomplish that. And I understand that your 170 00:09:44,120 --> 00:09:48,160 Speaker 1: son Andrew played a role in convincing you that Legacy 171 00:09:48,280 --> 00:09:51,480 Speaker 1: was the right place to go. Absolutely, and he's also 172 00:09:51,600 --> 00:09:54,120 Speaker 1: part of the reason why it's called legacy, because that's 173 00:09:54,120 --> 00:09:57,520 Speaker 1: what we're working on, our family legacy. Andrew work with 174 00:09:57,559 --> 00:10:00,719 Speaker 1: me at a previous company that I owned, amazing young man. 175 00:10:00,760 --> 00:10:03,800 Speaker 1: I couldn't be prouder as a father, my best salesman, 176 00:10:03,960 --> 00:10:07,320 Speaker 1: and when it was time to make a change, he 177 00:10:07,440 --> 00:10:10,960 Speaker 1: convinced me that we weren't done yet. America still needed help. 178 00:10:11,080 --> 00:10:14,440 Speaker 1: We had a duty, we had knowledge, we had concern, 179 00:10:14,880 --> 00:10:17,080 Speaker 1: and we still had the energy to do something that 180 00:10:17,200 --> 00:10:19,840 Speaker 1: was constructive, and that it was time for us to 181 00:10:20,080 --> 00:10:23,280 Speaker 1: do this as a family organization and do the things 182 00:10:23,320 --> 00:10:25,520 Speaker 1: we've always meant to do, create a legacy for us 183 00:10:25,520 --> 00:10:29,400 Speaker 1: in our clients. So in that sense, Legacy Precious Metals 184 00:10:30,000 --> 00:10:34,960 Speaker 1: his family owned, and that you focus on customer education 185 00:10:35,480 --> 00:10:39,360 Speaker 1: as your first priority. Absolutely. I can't tell you how 186 00:10:39,360 --> 00:10:41,640 Speaker 1: many people call me and they're invested, but they have 187 00:10:41,760 --> 00:10:45,240 Speaker 1: no idea what they're invested in, or more importantly, why 188 00:10:46,040 --> 00:10:49,840 Speaker 1: something as important as your retirement in your livelihood. You 189 00:10:49,840 --> 00:10:52,560 Speaker 1: should know what and why and we don't see that 190 00:10:52,720 --> 00:10:56,000 Speaker 1: enough nowadays. You know, you look at your average portfolio 191 00:10:56,160 --> 00:10:59,680 Speaker 1: from a brokerage house and you've seen company names, but 192 00:11:00,120 --> 00:11:02,280 Speaker 1: you know you don't even know what those companies believe, 193 00:11:02,679 --> 00:11:05,800 Speaker 1: what are their core values? Never mind what assets do 194 00:11:05,840 --> 00:11:08,440 Speaker 1: they hold? What do they do? You know? I like 195 00:11:08,520 --> 00:11:11,040 Speaker 1: to call it the chase for yield leads people to 196 00:11:11,080 --> 00:11:13,560 Speaker 1: do things they wouldn't normally do, or get involved with 197 00:11:13,600 --> 00:11:16,960 Speaker 1: companies they wouldn't normally be involved with because they're chasing 198 00:11:16,960 --> 00:11:20,160 Speaker 1: a yield. And if you approach those same people and 199 00:11:20,240 --> 00:11:22,520 Speaker 1: ask them what they would do for one hundred dollars, 200 00:11:23,000 --> 00:11:24,680 Speaker 1: they wouldn't do near as much as what some of 201 00:11:24,679 --> 00:11:27,679 Speaker 1: these companies do because their own moral code would prevent 202 00:11:27,720 --> 00:11:31,280 Speaker 1: them from doing it. So knowing not just who, but 203 00:11:31,480 --> 00:11:42,840 Speaker 1: what is really important to a portfolio. Every family's financial 204 00:11:42,880 --> 00:11:46,040 Speaker 1: situation is unique, but right now one thing is certain. 205 00:11:46,440 --> 00:11:49,560 Speaker 1: Inflation is out of control and eating into our savings 206 00:11:49,559 --> 00:11:52,240 Speaker 1: and our retirement. That's why you need to talk with 207 00:11:52,280 --> 00:11:56,439 Speaker 1: the experts at Legacy Precious Metals about investing your IRA 208 00:11:56,640 --> 00:11:59,920 Speaker 1: or four O one K in something you can count on. Gold. 209 00:12:00,480 --> 00:12:04,520 Speaker 1: At Legacy, we offer personalized customer service. We listen and 210 00:12:04,559 --> 00:12:07,040 Speaker 1: provide you with the information you need to make an 211 00:12:07,040 --> 00:12:10,880 Speaker 1: informed decision. At Legacy, you won't deal with pushy salespeople. 212 00:12:11,160 --> 00:12:14,760 Speaker 1: You work with financial experts who offer tailored advice based 213 00:12:14,800 --> 00:12:18,439 Speaker 1: on your financial goals. Protect your family and your investments. 214 00:12:18,840 --> 00:12:21,080 Speaker 1: Find out if investing your IRA or four oh one 215 00:12:21,160 --> 00:12:23,240 Speaker 1: k in gold is right for you. Talk with one 216 00:12:23,280 --> 00:12:26,800 Speaker 1: of our financial experts at Legacy Precious Medals today. Call 217 00:12:26,880 --> 00:12:30,000 Speaker 1: eight six six four eight four four O four three. 218 00:12:30,080 --> 00:12:33,480 Speaker 1: That's eight six six four eight four four O four three, 219 00:12:33,640 --> 00:12:37,559 Speaker 1: or download Legacies Free Investor Guide at Legacy p M 220 00:12:37,679 --> 00:12:50,440 Speaker 1: Investments dot com. Legacy PM investments dot com. Charles, you 221 00:12:50,480 --> 00:12:53,360 Speaker 1: heard me send the introduction. How many people are feeling 222 00:12:53,360 --> 00:12:57,480 Speaker 1: economically insecure these days? I must say somewhere between rising 223 00:12:57,520 --> 00:13:01,480 Speaker 1: gas prices clistatomy when she filled up her car it 224 00:13:01,640 --> 00:13:04,280 Speaker 1: was ninety one dollars and she was sort of in 225 00:13:04,360 --> 00:13:07,240 Speaker 1: a mild state of shock, and I gather in California. 226 00:13:07,240 --> 00:13:10,600 Speaker 1: It's much worse, even more than gasoline. We're seeing food 227 00:13:10,600 --> 00:13:15,079 Speaker 1: go up dramatically, and in order to cope with the inflation. 228 00:13:15,640 --> 00:13:18,440 Speaker 1: As of last Wednesday, the Fed started to raise interest 229 00:13:18,520 --> 00:13:21,280 Speaker 1: rates and some people think they may raise them six 230 00:13:21,360 --> 00:13:25,480 Speaker 1: more times this year to help curb inflation, the Federal's 231 00:13:25,480 --> 00:13:29,960 Speaker 1: Earth chair Jerome Powell announced on Wednesday, March sixteenth, But 232 00:13:30,080 --> 00:13:33,199 Speaker 1: the FED raised interest rates for the first time since 233 00:13:33,240 --> 00:13:36,679 Speaker 1: twenty eighteen by a quarter point and they expect to 234 00:13:36,800 --> 00:13:39,920 Speaker 1: keep rising somewhere between a quarter and a half percent 235 00:13:39,960 --> 00:13:44,360 Speaker 1: at a time. Now, from your standpoint, why does the 236 00:13:44,400 --> 00:13:49,280 Speaker 1: FED find raising interest rates essential to help curb with inflation. 237 00:13:49,880 --> 00:13:54,400 Speaker 1: The thought is by making things more expensive, you reduced demand. Okay, 238 00:13:55,160 --> 00:13:57,720 Speaker 1: they're saying inflation is due to high demand and people 239 00:13:57,760 --> 00:14:00,280 Speaker 1: wanting more, so people have to pay more to get 240 00:14:00,360 --> 00:14:05,400 Speaker 1: items because there's limited supply. Theoretically it works, but as 241 00:14:05,520 --> 00:14:09,800 Speaker 1: most things theoretically, in practicality, it doesn't really work. Look 242 00:14:09,840 --> 00:14:11,920 Speaker 1: at what happened in twenty eighteen when he tried to 243 00:14:12,000 --> 00:14:14,040 Speaker 1: raise the interest rates. It caused a tremor in the 244 00:14:14,040 --> 00:14:18,400 Speaker 1: stock market, and the FED decided then that we were 245 00:14:18,440 --> 00:14:21,800 Speaker 1: not in a position to deal with inequities turnaround, so 246 00:14:21,840 --> 00:14:26,040 Speaker 1: they stop the process, which is unfortunate. You know, the 247 00:14:26,120 --> 00:14:28,880 Speaker 1: inflation we deal with today is based on what we 248 00:14:28,920 --> 00:14:31,760 Speaker 1: didn't do in the past few years. And we look 249 00:14:31,800 --> 00:14:36,440 Speaker 1: at that number and inflation everyone's saying eight percent. No 250 00:14:36,720 --> 00:14:39,280 Speaker 1: it's going to be ten percent soon. But the reality 251 00:14:39,440 --> 00:14:43,680 Speaker 1: and the concern that people should have is that the 252 00:14:43,800 --> 00:14:47,440 Speaker 1: way that inflation has been reported has changed. If you 253 00:14:47,640 --> 00:14:51,840 Speaker 1: look at actual inflation right now, you're looking at inflation 254 00:14:51,880 --> 00:14:55,480 Speaker 1: that is touching sixteen percent. If we go back to 255 00:14:55,520 --> 00:14:58,520 Speaker 1: the numbers from when you balance the budget for US 256 00:14:58,520 --> 00:15:02,440 Speaker 1: NEW and use those same numbers for inflation, you're looking 257 00:15:02,480 --> 00:15:07,400 Speaker 1: at sixteen percent inflation, not eight percent. And that's a 258 00:15:07,440 --> 00:15:09,960 Speaker 1: travesty that we've taken this kind of a course that 259 00:15:10,760 --> 00:15:14,280 Speaker 1: the manipulation of numbers to make people feel better is 260 00:15:14,360 --> 00:15:18,280 Speaker 1: more important than actually addressing the issue at hand. So 261 00:15:19,320 --> 00:15:21,600 Speaker 1: we look at that number and we say, you know, 262 00:15:21,680 --> 00:15:24,920 Speaker 1: six more hikes in the course of this year, which 263 00:15:24,960 --> 00:15:29,840 Speaker 1: is unprecedented. You know, every hike is going to be 264 00:15:29,880 --> 00:15:33,120 Speaker 1: a platform for precious metal, especially gold and silver, to 265 00:15:33,200 --> 00:15:36,640 Speaker 1: move higher, because that's what it does, that's the balance 266 00:15:36,680 --> 00:15:39,680 Speaker 1: that it provides. But every hike is also going to 267 00:15:39,720 --> 00:15:44,320 Speaker 1: take a toll on the stock market. You hear people say, oh, 268 00:15:44,360 --> 00:15:46,840 Speaker 1: this is priced into the market, but we know that 269 00:15:46,880 --> 00:15:50,000 Speaker 1: it's not. Look what happened when we just did a 270 00:15:50,080 --> 00:15:54,720 Speaker 1: simple quarter percent The market took a jolt, and expect 271 00:15:54,800 --> 00:15:58,760 Speaker 1: to see more of that because the raises this year 272 00:15:59,840 --> 00:16:03,760 Speaker 1: is just this year. You will see the FED step 273 00:16:03,800 --> 00:16:06,680 Speaker 1: out and do more so in the next following years 274 00:16:06,720 --> 00:16:09,920 Speaker 1: as well, because if we look at that real number 275 00:16:09,960 --> 00:16:14,760 Speaker 1: of sixteen percent inflation, it doesn't come down quickly or easily. 276 00:16:15,720 --> 00:16:19,880 Speaker 1: It's painful well. And the inflation problem is being compounded 277 00:16:20,520 --> 00:16:24,360 Speaker 1: by the various supply chain shortages. I mean, the Department 278 00:16:24,400 --> 00:16:29,040 Speaker 1: of Commerce said that the global semiconductor shortage probably will 279 00:16:29,080 --> 00:16:31,280 Speaker 1: not slow down until the second half of the year. 280 00:16:31,800 --> 00:16:35,040 Speaker 1: Texas A and M study found that feed grade farms 281 00:16:35,560 --> 00:16:39,160 Speaker 1: in twenty twenty two could face an increased cost of 282 00:16:39,200 --> 00:16:43,120 Speaker 1: about one hundred and twenty eight thousand per farm due 283 00:16:43,160 --> 00:16:45,240 Speaker 1: to higher fertilizer costs. I talked to a good friend 284 00:16:45,240 --> 00:16:48,120 Speaker 1: of mine who is the ambassador to the United Nations 285 00:16:48,200 --> 00:16:52,520 Speaker 1: Food Agencies farmer in Indiana. Their family farm is going 286 00:16:52,560 --> 00:16:56,640 Speaker 1: to have, he said, an eighty four percent increase in 287 00:16:56,720 --> 00:17:00,560 Speaker 1: the total cost of doing business, which is just deathtaking. 288 00:17:00,960 --> 00:17:03,480 Speaker 1: Do we have this current war going on in the 289 00:17:03,520 --> 00:17:08,080 Speaker 1: Russian invasion of Ukraine. Russia accounts for fifteen percent of 290 00:17:08,160 --> 00:17:12,800 Speaker 1: the worldwide trade and nitrogen fertilizer and seventeen percent of 291 00:17:12,920 --> 00:17:17,080 Speaker 1: global potash fertilizer exports. Here in the United States, we 292 00:17:17,240 --> 00:17:21,240 Speaker 1: import twenty two percent of our nitrogen fertilizer from Russia. 293 00:17:21,320 --> 00:17:24,159 Speaker 1: So you can begin to see that despite whatever the 294 00:17:24,200 --> 00:17:29,200 Speaker 1: FED does on the inflation front, the underlying supply shortage, 295 00:17:29,240 --> 00:17:31,840 Speaker 1: which is part of what drives prices, is not going 296 00:17:31,880 --> 00:17:35,080 Speaker 1: to change in the near future. So when you look 297 00:17:35,119 --> 00:17:38,040 Speaker 1: at all that and you think about your years of 298 00:17:38,119 --> 00:17:41,560 Speaker 1: experience dealing with precious metals, how do the two interact. 299 00:17:41,800 --> 00:17:46,040 Speaker 1: What is it that happens that leads precious metals to 300 00:17:46,200 --> 00:17:49,080 Speaker 1: be sort of a store of value when you have 301 00:17:49,200 --> 00:17:52,520 Speaker 1: these kinds of things going on. That's a great question 302 00:17:53,160 --> 00:17:56,639 Speaker 1: with precious metals. We want to understand what their role is, 303 00:17:56,920 --> 00:18:01,040 Speaker 1: and it's to be that backup investment. It's an anti 304 00:18:01,119 --> 00:18:04,800 Speaker 1: dollar investment, which in this scenario, when we're dealing with 305 00:18:04,840 --> 00:18:07,960 Speaker 1: inflation and we're dealing with supply chain issues, that's really 306 00:18:07,960 --> 00:18:11,919 Speaker 1: coming down to when you exaggerated out to a dollar issue. 307 00:18:12,440 --> 00:18:15,679 Speaker 1: The loss of the power of the dollar is what 308 00:18:15,760 --> 00:18:20,040 Speaker 1: really plays into hand here. Now we sanctioned Russia, they're 309 00:18:20,040 --> 00:18:24,280 Speaker 1: going to sanction back. This is the geopolitical world that 310 00:18:24,320 --> 00:18:26,800 Speaker 1: we live in. We could say that if we had 311 00:18:26,840 --> 00:18:29,520 Speaker 1: a stronger administration, this war would have never happened to 312 00:18:29,560 --> 00:18:33,959 Speaker 1: begin with. But that's irrelevant to what we have to 313 00:18:34,000 --> 00:18:37,080 Speaker 1: deal with. We are here and how do we go forward. 314 00:18:37,560 --> 00:18:40,720 Speaker 1: So we look at that and say, okay, we know 315 00:18:40,840 --> 00:18:43,880 Speaker 1: that food is going to cost more, and which is important. 316 00:18:43,920 --> 00:18:46,399 Speaker 1: We all like to eat every day. The cost of 317 00:18:46,440 --> 00:18:49,800 Speaker 1: a car, that's troublesome, but we don't buy cars every day. 318 00:18:50,240 --> 00:18:52,320 Speaker 1: So we look at food and we look at gas 319 00:18:52,359 --> 00:18:54,960 Speaker 1: in our day to day things that we need, and 320 00:18:55,000 --> 00:18:57,960 Speaker 1: they're all going to increase in price. This is the 321 00:18:58,040 --> 00:19:00,520 Speaker 1: scenario where gold is going to offer for you an 322 00:19:00,520 --> 00:19:04,800 Speaker 1: offset because your goal will become more valuable as the 323 00:19:04,880 --> 00:19:08,159 Speaker 1: dollar gets weaker. And if food costs more, in gas 324 00:19:08,200 --> 00:19:11,840 Speaker 1: costs more, that's a weakness in our dollar. So we 325 00:19:12,000 --> 00:19:15,239 Speaker 1: have our medals to offset. That doesn't mean we want 326 00:19:15,280 --> 00:19:18,000 Speaker 1: to trade it in today or tomorrow, probably not, but 327 00:19:18,080 --> 00:19:21,760 Speaker 1: we do know that our overall portfolio is going to 328 00:19:21,800 --> 00:19:25,800 Speaker 1: balance out and offset the shortage that we're seeing in 329 00:19:25,920 --> 00:19:28,400 Speaker 1: what we need from the day to day, which is important. 330 00:19:28,960 --> 00:19:33,560 Speaker 1: Because we look at this increased cost from Russia, that's 331 00:19:33,560 --> 00:19:36,800 Speaker 1: going to play into products in the stock market as well. 332 00:19:36,920 --> 00:19:40,040 Speaker 1: There's many companies now that get affected by that, So 333 00:19:40,080 --> 00:19:43,639 Speaker 1: you're going to see price reductions in the share cost 334 00:19:44,520 --> 00:19:47,760 Speaker 1: what your rate of return is based on the scenarios 335 00:19:47,760 --> 00:19:50,000 Speaker 1: that we're dealing with. But we have to deal with 336 00:19:50,040 --> 00:19:53,560 Speaker 1: the shortages on our livelihood. Yes, there's no way to 337 00:19:53,600 --> 00:19:58,280 Speaker 1: fix that other than creating a scenario where we can 338 00:19:58,280 --> 00:20:01,920 Speaker 1: get back to civilized terms with Russia. If that happens. 339 00:20:02,440 --> 00:20:05,080 Speaker 1: I mean, that seems to be a difficulty We've had 340 00:20:05,160 --> 00:20:07,879 Speaker 1: more than once in our world history. That will go away, 341 00:20:07,920 --> 00:20:09,720 Speaker 1: but until then we have to deal with it. So 342 00:20:10,160 --> 00:20:13,280 Speaker 1: we choose to protect what we can that portfolio, and 343 00:20:13,400 --> 00:20:15,960 Speaker 1: that's what metals will help to do. When you're talking 344 00:20:15,960 --> 00:20:20,560 Speaker 1: about how gold reacts two changes in the financial system, 345 00:20:21,200 --> 00:20:24,800 Speaker 1: talk for just a minute about how people who were 346 00:20:24,880 --> 00:20:28,280 Speaker 1: into gold and other precious metals in two thousand and 347 00:20:28,320 --> 00:20:30,960 Speaker 1: eight when the collapse came, which all of us remember 348 00:20:31,000 --> 00:20:33,920 Speaker 1: because it was so fast and so deep, how were 349 00:20:33,960 --> 00:20:38,159 Speaker 1: people who had hedged against inflation with precious metals and 350 00:20:38,240 --> 00:20:41,960 Speaker 1: gold in particular, how were they protected from being sucked 351 00:20:42,000 --> 00:20:46,199 Speaker 1: into the collapse? Great question. What happened in two thousand 352 00:20:46,200 --> 00:20:50,280 Speaker 1: and eight was very fast. It was unprecedented. We saw 353 00:20:50,760 --> 00:20:54,680 Speaker 1: the world full apart in the equities market seemingly overnight, 354 00:20:55,119 --> 00:20:59,919 Speaker 1: starting with AIG leading to the closing of major world 355 00:21:00,080 --> 00:21:06,480 Speaker 1: renowned financial institutions. What gold did was it counterbalanced the 356 00:21:06,600 --> 00:21:10,479 Speaker 1: offset that we saw in equities and bonds. We saw 357 00:21:10,680 --> 00:21:13,359 Speaker 1: an increase in the price of gold. So what we 358 00:21:13,480 --> 00:21:18,200 Speaker 1: had happened was the seesaw effect. As equities and bonds 359 00:21:18,560 --> 00:21:22,879 Speaker 1: lost value, gold became more valuable. So what that gives 360 00:21:22,880 --> 00:21:26,600 Speaker 1: you is when you have a ratio on your portfolio established, 361 00:21:27,200 --> 00:21:30,280 Speaker 1: you will see gold increase in value to offset your 362 00:21:30,359 --> 00:21:34,080 Speaker 1: losses that you're seeing in the equities markets, that you're 363 00:21:34,080 --> 00:21:37,640 Speaker 1: seeing in the bond markets. And eventually we're led into 364 00:21:37,720 --> 00:21:40,280 Speaker 1: the real estate market as well. During two thousand and eight, 365 00:21:40,880 --> 00:21:45,840 Speaker 1: people who had diversifications didn't feel that financial loss. So 366 00:21:45,920 --> 00:21:48,160 Speaker 1: many people we spoke to in two thousand and hey, 367 00:21:48,200 --> 00:21:51,320 Speaker 1: we're saying, I can't retire now. I was set to 368 00:21:51,359 --> 00:21:54,560 Speaker 1: retire next year, my portfolio has gone in half. How 369 00:21:54,560 --> 00:21:58,399 Speaker 1: do I retire? And it's troublesome. And while you feel 370 00:21:58,520 --> 00:22:00,480 Speaker 1: you know, there's nothing you can do about but try 371 00:22:00,480 --> 00:22:02,120 Speaker 1: to get them set up so that they can retire 372 00:22:02,160 --> 00:22:05,640 Speaker 1: again soon. And that's what the precious metals does. It's 373 00:22:05,680 --> 00:22:09,840 Speaker 1: that insurance on your portfolio, on your money, that gives 374 00:22:09,880 --> 00:22:12,840 Speaker 1: you that safety net that if and when the next 375 00:22:13,640 --> 00:22:17,960 Speaker 1: collapse comes, you're prepared. You won't suffer that tremendous loss. 376 00:22:18,480 --> 00:22:21,640 Speaker 1: You will have an asset that will outperform the losses 377 00:22:21,680 --> 00:22:32,960 Speaker 1: that you're receiving. And that's true protection. Every family's financial 378 00:22:33,000 --> 00:22:36,159 Speaker 1: situation is unique, but right now, one thing is certain. 379 00:22:36,560 --> 00:22:39,680 Speaker 1: Inflation is out of control and eating into our savings 380 00:22:39,720 --> 00:22:42,359 Speaker 1: and our retirement. That's why you need to talk with 381 00:22:42,400 --> 00:22:46,560 Speaker 1: the experts at Legacy Precious Metals about investing your IRA 382 00:22:46,760 --> 00:22:49,240 Speaker 1: or four O one k in something you can count 383 00:22:49,280 --> 00:22:54,080 Speaker 1: on gold. At Legacy, we offer personalized customer service. We 384 00:22:54,240 --> 00:22:56,760 Speaker 1: listen and provide you with the information you need to 385 00:22:56,840 --> 00:22:59,960 Speaker 1: make an informed decision. At Legacy, you won't deal with 386 00:23:00,080 --> 00:23:03,960 Speaker 1: pushy salespeople. You work with financial experts who offer tailored 387 00:23:03,960 --> 00:23:07,760 Speaker 1: advice based on your financial goals. Protect your family and 388 00:23:07,880 --> 00:23:10,880 Speaker 1: your investments. Find out if investing your IRA or four 389 00:23:10,920 --> 00:23:13,040 Speaker 1: oh one k in gold is right for you. Talk 390 00:23:13,080 --> 00:23:16,359 Speaker 1: with one of our financial experts at Legacy Precious Medals today. 391 00:23:16,720 --> 00:23:20,200 Speaker 1: Call eight six six four eight four four O four three. 392 00:23:20,240 --> 00:23:23,320 Speaker 1: That's eight six six four eight four four O four 393 00:23:23,440 --> 00:23:28,399 Speaker 1: three or download legacies Free Investor Guide at LEGACYPM Investments 394 00:23:28,480 --> 00:23:41,600 Speaker 1: dot com LEGACYPM Investments dot com. When you founded Legacy 395 00:23:41,600 --> 00:23:45,720 Speaker 1: Precious Medals, having already had this very widespread experience and 396 00:23:46,280 --> 00:23:50,280 Speaker 1: dealing with customers and explaining the whole Precious Medals business, 397 00:23:50,720 --> 00:23:53,520 Speaker 1: my sense was that you and your sun decided it 398 00:23:53,560 --> 00:23:56,639 Speaker 1: would be a different kind of company and that you 399 00:23:56,640 --> 00:23:59,119 Speaker 1: would really serve in a kind of different way for 400 00:23:59,200 --> 00:24:02,880 Speaker 1: your clients. Can you explain that a little bit? Absolutely, 401 00:24:03,640 --> 00:24:07,000 Speaker 1: our goal is to actually help each individual that wants 402 00:24:07,000 --> 00:24:09,160 Speaker 1: our help. We want to spend the time with them, 403 00:24:09,920 --> 00:24:13,280 Speaker 1: educate them on the process, talk about what their goals 404 00:24:13,320 --> 00:24:16,800 Speaker 1: are and how to best go about meeting those goals. 405 00:24:17,440 --> 00:24:20,720 Speaker 1: It's not a one size fits all. Everyone has different needs, 406 00:24:20,760 --> 00:24:26,480 Speaker 1: everyone has different time frames, and when you compare scenarios, 407 00:24:27,000 --> 00:24:28,760 Speaker 1: you may come up with some of the same assets, 408 00:24:28,760 --> 00:24:30,680 Speaker 1: but you may come up with them in different quantities, 409 00:24:30,960 --> 00:24:33,160 Speaker 1: You may come up with them in a different parameter. 410 00:24:33,640 --> 00:24:36,320 Speaker 1: Some people may want to buy medals outside of an IRA, 411 00:24:36,520 --> 00:24:38,520 Speaker 1: some may want to do it inside of an IRA. 412 00:24:39,280 --> 00:24:42,080 Speaker 1: It's a truly case by case scenario, and what we 413 00:24:42,200 --> 00:24:46,600 Speaker 1: decided was to spend time with people to figure out 414 00:24:46,600 --> 00:24:50,800 Speaker 1: how to best serve them by giving them as much 415 00:24:50,920 --> 00:24:54,720 Speaker 1: education as possible, by making sure they understood the process, 416 00:24:54,760 --> 00:24:58,160 Speaker 1: and by being fair to them in pricing and service. 417 00:24:58,440 --> 00:25:01,520 Speaker 1: That was the goal, to be different from everyone else. 418 00:25:01,600 --> 00:25:05,000 Speaker 1: And this is the road we've taken to really make 419 00:25:05,040 --> 00:25:07,960 Speaker 1: sure that we know that we're doing our part, not 420 00:25:08,000 --> 00:25:11,200 Speaker 1: just for our customers, but for America too. The stronger 421 00:25:11,240 --> 00:25:14,360 Speaker 1: the individual, the stronger the country. So let me ask 422 00:25:14,400 --> 00:25:17,280 Speaker 1: a couple is it's really practical when you're talking to 423 00:25:17,320 --> 00:25:20,080 Speaker 1: people and they say to you, all right, I'm sold 424 00:25:20,080 --> 00:25:23,880 Speaker 1: that we ought to do something with precious metals, But 425 00:25:24,359 --> 00:25:28,520 Speaker 1: how do I decide between gold and silver as an investment? 426 00:25:29,080 --> 00:25:30,800 Speaker 1: You know? And it's a great question. And part of 427 00:25:30,800 --> 00:25:33,639 Speaker 1: that answer comes from where the metals are going to 428 00:25:33,680 --> 00:25:35,520 Speaker 1: be stored. Is it going to be in an ira? 429 00:25:36,040 --> 00:25:37,800 Speaker 1: Is it going to be something you take delivery of? 430 00:25:38,240 --> 00:25:41,480 Speaker 1: This is going to be something you store at a depository. 431 00:25:41,600 --> 00:25:46,080 Speaker 1: Because when you're dealing specifically in silver silver, you're getting 432 00:25:46,080 --> 00:25:49,359 Speaker 1: a lot more volume for your dollar. Gold's easy, right, 433 00:25:49,440 --> 00:25:51,359 Speaker 1: A million dollars in gold, you can fit that in 434 00:25:51,400 --> 00:25:54,680 Speaker 1: a shoe box. But silver's where you get the difficulties 435 00:25:54,680 --> 00:25:57,399 Speaker 1: when you start getting you know, a hundred pounds of 436 00:25:57,400 --> 00:26:00,800 Speaker 1: silver delivered. You need to have us storage should establish 437 00:26:00,840 --> 00:26:05,639 Speaker 1: before you end. Which do you recommend normally keeping it 438 00:26:05,680 --> 00:26:09,400 Speaker 1: in a IRA or something where view the company has 439 00:26:09,440 --> 00:26:12,600 Speaker 1: it or home storage. What do you tend to recommend 440 00:26:12,640 --> 00:26:15,879 Speaker 1: to people? There's two answers to that question. The first 441 00:26:15,920 --> 00:26:17,960 Speaker 1: answer is going to be where is the money that 442 00:26:17,960 --> 00:26:21,159 Speaker 1: you're concerned about coming from? If it's already in an IRA, 443 00:26:22,040 --> 00:26:25,120 Speaker 1: we don't want to move that and take the tax penalties, right, 444 00:26:25,840 --> 00:26:27,919 Speaker 1: so we'll leave it in an IRA because that's going 445 00:26:27,960 --> 00:26:30,239 Speaker 1: to suit you better. Why pay more taxes than you 446 00:26:30,280 --> 00:26:32,520 Speaker 1: need to. I think we all pay more than our 447 00:26:32,560 --> 00:26:35,120 Speaker 1: fair share of taxes and we don't want to add 448 00:26:35,160 --> 00:26:37,320 Speaker 1: to that. So in that scenario, we're going to leave 449 00:26:37,320 --> 00:26:40,160 Speaker 1: it in the IRA. We're gonna get that tax deferred 450 00:26:40,160 --> 00:26:42,760 Speaker 1: growth if you're doing it a regular IRA, tax free. 451 00:26:42,760 --> 00:26:44,840 Speaker 1: If it's in a wrath and we're not going to 452 00:26:44,920 --> 00:26:48,879 Speaker 1: pay the oners early withdrawal penalties and the taxes on 453 00:26:48,960 --> 00:26:51,919 Speaker 1: the money that's there, so in that case, we're going 454 00:26:52,000 --> 00:26:53,879 Speaker 1: to leave it in the IRA. It makes the most sense. 455 00:26:54,359 --> 00:26:57,159 Speaker 1: If you've irase funding and it's protected, and you have 456 00:26:57,240 --> 00:26:59,440 Speaker 1: cash you want to protect, then we'll take a look 457 00:26:59,440 --> 00:27:01,760 Speaker 1: and say, okay, maybe we want to buy metals outside 458 00:27:01,760 --> 00:27:04,720 Speaker 1: of the IRA, something for delivery or for storage, based 459 00:27:04,720 --> 00:27:07,119 Speaker 1: on your scenario, if you have the room for it, 460 00:27:07,119 --> 00:27:10,560 Speaker 1: if you feel comfortable having it. Not everyone feels comfortable 461 00:27:10,680 --> 00:27:13,879 Speaker 1: having large dollar amounts of metals or any assets in 462 00:27:13,880 --> 00:27:20,520 Speaker 1: their house. Isn't there a third precious metal? Is it? Platinum? Platinum? 463 00:27:20,640 --> 00:27:23,720 Speaker 1: There's also palladium too. They're both considered precious metals, the 464 00:27:23,760 --> 00:27:27,000 Speaker 1: four of them, but only gold and silver have a 465 00:27:27,280 --> 00:27:31,080 Speaker 1: currency aspect to them. The other's trade as an industrial metal, 466 00:27:31,280 --> 00:27:36,240 Speaker 1: and they're important. Palladium has risen tremendously. Platinum has fallen recently, 467 00:27:36,560 --> 00:27:38,960 Speaker 1: and that has a lot to do with catalytic converters 468 00:27:38,960 --> 00:27:42,160 Speaker 1: in cars. As we build better engines, we use less platinum. 469 00:27:42,520 --> 00:27:48,280 Speaker 1: But that's really for somebody who's investing indirectly in a 470 00:27:48,280 --> 00:27:52,240 Speaker 1: product that will be manufactured, rather than somebody who's looking 471 00:27:52,280 --> 00:27:58,040 Speaker 1: for something that'll be part of their currency based model. Correct, 472 00:27:58,160 --> 00:28:01,040 Speaker 1: it's good to have an industrial aspect well, but that's 473 00:28:01,040 --> 00:28:03,200 Speaker 1: not what most people are looking for in the beginning, right, 474 00:28:03,200 --> 00:28:07,920 Speaker 1: They're looking for that protection first. That's fascinating. Now, in 475 00:28:07,960 --> 00:28:11,440 Speaker 1: your experience, do people once they invest do they tend 476 00:28:11,480 --> 00:28:14,159 Speaker 1: to stay with it and just keep it because of 477 00:28:14,240 --> 00:28:16,760 Speaker 1: its long term value, or do they tend to go 478 00:28:16,800 --> 00:28:19,320 Speaker 1: in and out the way they will will stock. It's 479 00:28:19,320 --> 00:28:22,680 Speaker 1: been our experience that they tend to hold it. When 480 00:28:22,720 --> 00:28:25,960 Speaker 1: you look at the way our economic system is set 481 00:28:26,000 --> 00:28:28,840 Speaker 1: up in the United States, we're told that three percent 482 00:28:28,880 --> 00:28:31,960 Speaker 1: inflation is a good thing. If you extrapolate that number, 483 00:28:32,760 --> 00:28:35,760 Speaker 1: you lose so much value over time that holding precious 484 00:28:35,760 --> 00:28:39,880 Speaker 1: metals offsets that. If you have your investment portfolio and 485 00:28:39,920 --> 00:28:42,160 Speaker 1: you have it for forty years, if we go with 486 00:28:42,240 --> 00:28:45,320 Speaker 1: what the government wants three percent, you've lost one hundred 487 00:28:45,360 --> 00:28:49,320 Speaker 1: twenty percent of your value, your purchasing power. So we 488 00:28:49,400 --> 00:28:51,600 Speaker 1: buy it for a short term and we realize what 489 00:28:51,640 --> 00:28:54,080 Speaker 1: it is and we say, wow, I'm not going to 490 00:28:54,120 --> 00:28:56,320 Speaker 1: get rid of this unless I have a need to 491 00:28:56,360 --> 00:29:01,520 Speaker 1: do so, because nothing is protecting me better. So one 492 00:29:01,560 --> 00:29:05,160 Speaker 1: of the theories is I think that the sooner you 493 00:29:05,200 --> 00:29:07,840 Speaker 1: can get into this habit, the younger you are when 494 00:29:07,880 --> 00:29:11,960 Speaker 1: you start, the more years you have for your investment 495 00:29:12,000 --> 00:29:15,040 Speaker 1: to grow. I mean, is that a fair summary? That is? 496 00:29:15,080 --> 00:29:17,560 Speaker 1: And I think that goes for almost any investment, whether 497 00:29:17,600 --> 00:29:21,400 Speaker 1: it's the equities, bonds, or even real estate. You know, 498 00:29:22,440 --> 00:29:26,360 Speaker 1: the act of starting in itself begins a trend, It 499 00:29:26,400 --> 00:29:30,040 Speaker 1: begins a ritual for you. And that's important because you 500 00:29:30,120 --> 00:29:33,680 Speaker 1: want to make your economic outlook to be something that 501 00:29:33,800 --> 00:29:36,680 Speaker 1: is a habit. You want to be considering it all 502 00:29:36,720 --> 00:29:39,080 Speaker 1: the time. It doesn't need to rule your life, but 503 00:29:39,200 --> 00:29:41,360 Speaker 1: it should actually rule part of your actions on a 504 00:29:41,440 --> 00:29:44,360 Speaker 1: daily basis, because that's how we get the success that 505 00:29:44,400 --> 00:29:47,280 Speaker 1: we are looking for. And the sooner you start, the better. 506 00:29:47,760 --> 00:29:49,840 Speaker 1: Let's say you're dealing with a college student or somebody 507 00:29:49,840 --> 00:29:52,200 Speaker 1: who's just out of college or just out of high school. 508 00:29:52,760 --> 00:29:56,160 Speaker 1: What's the smallest amount they can start with to build 509 00:29:56,160 --> 00:29:59,280 Speaker 1: the habit? You know, And we tell people, because the 510 00:29:59,320 --> 00:30:02,160 Speaker 1: way we're look and the way taxation works here in 511 00:30:02,160 --> 00:30:05,080 Speaker 1: the United States, if it's less than fifteen hundred dollars, 512 00:30:05,080 --> 00:30:07,880 Speaker 1: we'd have to charge you tax. In that scenario, what 513 00:30:07,920 --> 00:30:10,040 Speaker 1: we're probably going to do is say, hey, there's a 514 00:30:10,040 --> 00:30:12,000 Speaker 1: couple of places around you. They may be a little 515 00:30:12,040 --> 00:30:14,560 Speaker 1: bit more expensive for coin, but when you figure tax 516 00:30:14,600 --> 00:30:17,320 Speaker 1: into it and everything else, it may make sense for 517 00:30:17,360 --> 00:30:19,360 Speaker 1: you to go there and buy a silver dollar here 518 00:30:19,400 --> 00:30:21,200 Speaker 1: and there when you have the money and just start 519 00:30:21,200 --> 00:30:24,360 Speaker 1: putting it away start funding your IRA, and as you 520 00:30:24,400 --> 00:30:27,200 Speaker 1: get a certain dollar amount, maybe diverse some of it 521 00:30:27,360 --> 00:30:30,680 Speaker 1: into precious metals at that point and make it an 522 00:30:30,720 --> 00:30:33,440 Speaker 1: active thing that you do so that you're always maintaining 523 00:30:33,600 --> 00:30:37,040 Speaker 1: some form of balance in that portfolio. Of course, so 524 00:30:37,680 --> 00:30:39,880 Speaker 1: is the tax you pays it a sales tax or 525 00:30:39,880 --> 00:30:42,480 Speaker 1: why are they paying tax? It is a sales tax 526 00:30:42,560 --> 00:30:45,840 Speaker 1: because you're buying property. Yes, you're buying a physical item. 527 00:30:46,080 --> 00:30:48,120 Speaker 1: And this was decided upon a long time ago. Once 528 00:30:48,160 --> 00:30:51,080 Speaker 1: you break the fifteen hundred dollars range, it's no longer 529 00:30:51,120 --> 00:30:55,120 Speaker 1: considered an individual item. It's now considered an investment unless 530 00:30:55,160 --> 00:30:57,400 Speaker 1: you live in a couple of states Minnesota being one 531 00:30:57,440 --> 00:31:00,360 Speaker 1: where the need to require that you get charged sales tax. 532 00:31:00,680 --> 00:31:03,520 Speaker 1: That's wild. I mean, gold and silver are the unique 533 00:31:03,560 --> 00:31:09,040 Speaker 1: examples where it is an anti savings tax. That is true. Now, 534 00:31:09,200 --> 00:31:11,280 Speaker 1: I mean I sort of understand it if it's in 535 00:31:11,320 --> 00:31:14,120 Speaker 1: the shape of a ring or a bracelet or something 536 00:31:14,160 --> 00:31:16,800 Speaker 1: you're buying at your local jewelry store. But if there 537 00:31:16,800 --> 00:31:18,120 Speaker 1: ought to be some way to be able to buy 538 00:31:18,120 --> 00:31:21,160 Speaker 1: it just straight up, So to go back to your point, 539 00:31:21,400 --> 00:31:24,000 Speaker 1: I mean, if somebody just had the habit that once 540 00:31:24,040 --> 00:31:26,280 Speaker 1: a quarter or even as seldom is once a year, 541 00:31:26,800 --> 00:31:28,880 Speaker 1: they got something. As you said, in the early days, 542 00:31:28,920 --> 00:31:31,680 Speaker 1: they bought some coins, and then they gradually got other 543 00:31:31,720 --> 00:31:34,160 Speaker 1: things until they got to a point where they could 544 00:31:34,720 --> 00:31:39,280 Speaker 1: pay the fifteen hundred plus and start making investments. Do 545 00:31:39,320 --> 00:31:42,000 Speaker 1: you mean literally like as early as they can start 546 00:31:42,040 --> 00:31:45,280 Speaker 1: doing it, they're increasing the length of time that they're 547 00:31:46,000 --> 00:31:51,360 Speaker 1: accruing more and more value. Absolutely, time matters, and you 548 00:31:51,520 --> 00:31:55,440 Speaker 1: really drive home that point. I mean, the most important 549 00:31:55,480 --> 00:31:58,160 Speaker 1: thing you can do for your retirement account is started right, 550 00:31:58,480 --> 00:32:01,600 Speaker 1: because the most important thing to getting returns is the 551 00:32:01,720 --> 00:32:04,040 Speaker 1: length of time that you're invested, and that goes for 552 00:32:04,080 --> 00:32:09,040 Speaker 1: almost any investment, but specifically for metals. The more time 553 00:32:09,040 --> 00:32:12,440 Speaker 1: you give it, the better return you get. So when 554 00:32:12,440 --> 00:32:15,000 Speaker 1: you're looking at things, you want to say, here's my plan, 555 00:32:15,120 --> 00:32:17,360 Speaker 1: and also I'm going to make sure I do this 556 00:32:17,440 --> 00:32:20,440 Speaker 1: something for me so that sixty five year old me, 557 00:32:20,480 --> 00:32:22,600 Speaker 1: if the retirement age is still sixty five when you 558 00:32:22,640 --> 00:32:25,240 Speaker 1: get there, I can do what I want to do. 559 00:32:25,280 --> 00:32:27,239 Speaker 1: You want to be able to live that life, and 560 00:32:27,320 --> 00:32:30,760 Speaker 1: it's about the quality of that life, which is all 561 00:32:30,800 --> 00:32:33,640 Speaker 1: about the purchasing power of your dollar, right, It's not 562 00:32:33,680 --> 00:32:36,239 Speaker 1: about how many you have it's what those dollars do 563 00:32:36,360 --> 00:32:38,959 Speaker 1: for you, and that's where your precious metals come in 564 00:32:39,040 --> 00:32:41,920 Speaker 1: because it keeps I remember in the Carter years, the 565 00:32:42,000 --> 00:32:44,960 Speaker 1: last time we had really big inflation, somebody had this comment. 566 00:32:45,040 --> 00:32:47,240 Speaker 1: They said, you know, I was looking forward to becoming 567 00:32:47,240 --> 00:32:49,600 Speaker 1: a millionaire to I realized that would be about the 568 00:32:49,640 --> 00:32:54,960 Speaker 1: price of a big back. But I'm curious, if you 569 00:32:55,040 --> 00:32:59,320 Speaker 1: think in terms of cycles, say ten twenty thirty years, 570 00:32:59,360 --> 00:33:05,480 Speaker 1: how do you compare gold to stock market investments just statistically? 571 00:33:05,840 --> 00:33:08,680 Speaker 1: You know, it's an interesting question, and part of the 572 00:33:08,720 --> 00:33:10,880 Speaker 1: difficulty with that answer is I'm going to throw a 573 00:33:10,920 --> 00:33:12,680 Speaker 1: couple of things out there, and some of them you'll know. 574 00:33:12,760 --> 00:33:15,680 Speaker 1: Some of them the younger people may not. But you know, 575 00:33:15,760 --> 00:33:18,000 Speaker 1: the stock market sounds great, and they talk about the 576 00:33:18,040 --> 00:33:22,600 Speaker 1: stock market in terms of overall return. What it doesn't 577 00:33:22,600 --> 00:33:26,320 Speaker 1: consider as a person's portfolio. Just because the Dow did 578 00:33:26,400 --> 00:33:30,440 Speaker 1: something does not mean that your portfolio did something. Each 579 00:33:30,480 --> 00:33:34,080 Speaker 1: portfolio is different. So when we look at metals, metals 580 00:33:34,080 --> 00:33:38,720 Speaker 1: are based on the metals price, so that return is 581 00:33:38,760 --> 00:33:41,800 Speaker 1: that return. It doesn't matter what gold bar you have, 582 00:33:42,000 --> 00:33:45,200 Speaker 1: what silver bar you have. Your return is the same 583 00:33:46,440 --> 00:33:48,760 Speaker 1: with the Dow and with the stock. It depends on 584 00:33:48,880 --> 00:33:53,040 Speaker 1: your specific portfolio. I remember taking a call from someone. 585 00:33:53,520 --> 00:33:55,480 Speaker 1: They were involved in a company and they had a 586 00:33:55,520 --> 00:33:59,520 Speaker 1: great retirement plan and the company allowed private purchases of 587 00:33:59,560 --> 00:34:02,400 Speaker 1: its company any stock in the retirement account, and everyone 588 00:34:02,440 --> 00:34:05,920 Speaker 1: thought it was fantastic. And they were involved in natural 589 00:34:05,960 --> 00:34:08,920 Speaker 1: gas and oil products and everyone was doing wonderful. Oil 590 00:34:09,040 --> 00:34:10,880 Speaker 1: was going up and they were making a lot of money. 591 00:34:11,360 --> 00:34:14,920 Speaker 1: And then one day Enron went out of business. And 592 00:34:15,000 --> 00:34:17,319 Speaker 1: you may remember the name Enron. Oil and gas did 593 00:34:17,360 --> 00:34:20,040 Speaker 1: not go out of business, but Enron sure did, and 594 00:34:20,120 --> 00:34:25,000 Speaker 1: it left everyone broke. And that's the difference. Oil and 595 00:34:25,040 --> 00:34:28,920 Speaker 1: gas was great, Enron wasn't. And that's the difference between 596 00:34:29,000 --> 00:34:34,600 Speaker 1: stocks and physical metals. It depends what stock. Because you 597 00:34:34,680 --> 00:34:37,080 Speaker 1: have spent so many years looking at the stuff. Do 598 00:34:37,120 --> 00:34:39,759 Speaker 1: you have any sort of parting words of advice for 599 00:34:39,880 --> 00:34:43,600 Speaker 1: our listeners about the current economy, because you know, there 600 00:34:43,600 --> 00:34:45,920 Speaker 1: are a lot of people who are worried for a 601 00:34:45,920 --> 00:34:48,480 Speaker 1: lot of different reasons, and I'm just curious, as a 602 00:34:48,560 --> 00:34:50,840 Speaker 1: real professional who's looked at this for a long time, 603 00:34:51,520 --> 00:34:54,000 Speaker 1: what advice would you give them? In general? What's your 604 00:34:54,040 --> 00:34:57,160 Speaker 1: sense of the economy. You know, my issue isn't what 605 00:34:57,239 --> 00:35:00,520 Speaker 1: everyone thinks. Inflation is horrible. Don't get me wrong on 606 00:35:00,719 --> 00:35:04,400 Speaker 1: sixteen percent, it's tremendous. Our biggest problem that we have 607 00:35:04,600 --> 00:35:07,600 Speaker 1: right now is that federal budget. All Right, The Fed's 608 00:35:07,719 --> 00:35:12,080 Speaker 1: balance sheet has over nine trillion dollars on it. Of 609 00:35:12,239 --> 00:35:17,120 Speaker 1: that nine trillion, four point three trillion is US treasury assets. 610 00:35:17,360 --> 00:35:21,920 Speaker 1: We couldn't sell those at market. They've bought back what 611 00:35:22,080 --> 00:35:25,919 Speaker 1: they supplied. It's the most horrific thing I've ever heard. 612 00:35:27,040 --> 00:35:29,440 Speaker 1: If they were a company, they would go to jail. 613 00:35:30,120 --> 00:35:32,439 Speaker 1: And I'm not trying to beat the anti FED stick. 614 00:35:32,600 --> 00:35:36,319 Speaker 1: There's enough people that do that. But from a number's perspective, 615 00:35:36,920 --> 00:35:41,239 Speaker 1: you cannot be this, feign debt and be okay. I 616 00:35:41,360 --> 00:35:44,080 Speaker 1: pose this question to you, Knut, as one of the 617 00:35:44,239 --> 00:35:47,640 Speaker 1: people who was involved last with a balanced budget. How 618 00:35:47,680 --> 00:35:49,840 Speaker 1: do you balance this budget? Could you do it in 619 00:35:49,840 --> 00:35:52,719 Speaker 1: a year or would it take you a decade? Well, 620 00:35:52,760 --> 00:35:57,040 Speaker 1: it's a funny thing. We campaigned want a balanced budget amendment, 621 00:35:57,080 --> 00:36:00,520 Speaker 1: which said we'd balance the budget in seven years. We 622 00:36:00,719 --> 00:36:02,840 Speaker 1: got over three hundred votes in the House, which was 623 00:36:02,960 --> 00:36:05,840 Speaker 1: enough because it took a constitutional amendment, and then we 624 00:36:05,920 --> 00:36:09,000 Speaker 1: got within one vote in the Senate. We were at 625 00:36:09,040 --> 00:36:12,040 Speaker 1: sixty six we needed sixty seven. And so we had 626 00:36:12,080 --> 00:36:14,719 Speaker 1: a dinner of the Republican House leadership and we said, 627 00:36:14,760 --> 00:36:19,960 Speaker 1: you know, what if we pretended that we passed the 628 00:36:20,000 --> 00:36:22,920 Speaker 1: amendment because we got over three hundred votes and we 629 00:36:23,000 --> 00:36:25,279 Speaker 1: got over sixty votes in the Senate, and what if 630 00:36:25,320 --> 00:36:27,960 Speaker 1: we just did it. We had a long evening and 631 00:36:28,000 --> 00:36:29,839 Speaker 1: we all got excited. We were young and eager at 632 00:36:29,880 --> 00:36:34,240 Speaker 1: that time, and we all got excited and we said, well, 633 00:36:34,320 --> 00:36:36,840 Speaker 1: in the Balanced Budget Amendment, we said we could do 634 00:36:36,880 --> 00:36:41,040 Speaker 1: it in seven years, so let's do it. So the 635 00:36:41,120 --> 00:36:44,960 Speaker 1: following week, John Kaysey was a great governor of Ohio 636 00:36:45,000 --> 00:36:47,160 Speaker 1: and was the chairman of the Budget Committee, the key 637 00:36:47,200 --> 00:36:49,760 Speaker 1: to this whole thing. John comes in and he says, guys, 638 00:36:50,800 --> 00:36:52,560 Speaker 1: my staff is now looked at it and we're not 639 00:36:52,600 --> 00:36:55,439 Speaker 1: sure we can get there in seven years. We think 640 00:36:55,440 --> 00:36:58,439 Speaker 1: it may take ten. This is at the leadership meeting. 641 00:36:58,480 --> 00:37:01,880 Speaker 1: We said, wait a second, John, we voted on seven. 642 00:37:02,800 --> 00:37:04,799 Speaker 1: What do you mean you're not sure we can get there? 643 00:37:05,239 --> 00:37:07,279 Speaker 1: He said, well, I'm just you know, this is going 644 00:37:07,320 --> 00:37:09,160 Speaker 1: to be really hard because he's the guy who actually 645 00:37:09,239 --> 00:37:11,880 Speaker 1: carried the whole thing. So we put it to a 646 00:37:11,960 --> 00:37:15,799 Speaker 1: vote and everybody in the place voted for seven years 647 00:37:15,800 --> 00:37:20,640 Speaker 1: except one person, John Casey. The following week at our 648 00:37:20,719 --> 00:37:23,759 Speaker 1: leadership meeting, we gave him a marble plaque for his 649 00:37:23,880 --> 00:37:28,120 Speaker 1: desk that said, balanced budgets seven years. Now here's the 650 00:37:28,160 --> 00:37:33,359 Speaker 1: funny thing, because we had the largest capital gains tax 651 00:37:33,400 --> 00:37:37,799 Speaker 1: cut in history, which really spurred economic growth. We reformed 652 00:37:37,800 --> 00:37:43,280 Speaker 1: the Food and Drug Administration, We reformed telecommunications, we reformed medicare. 653 00:37:44,560 --> 00:37:47,799 Speaker 1: We controlled federal spending. Although I always tell people that 654 00:37:47,840 --> 00:37:50,920 Speaker 1: we weren't just being stingy. We doubled the size of 655 00:37:50,920 --> 00:37:53,640 Speaker 1: the NIH budget, the nationale Suits of Health because we 656 00:37:53,719 --> 00:37:57,000 Speaker 1: thought biological breakthroughs would save so many lives and so 657 00:37:57,080 --> 00:38:00,959 Speaker 1: much money. So it turned out a didn't take seven years, 658 00:38:00,960 --> 00:38:04,680 Speaker 1: it took four. The other big thing was welfare reform. 659 00:38:04,719 --> 00:38:09,239 Speaker 1: Having a work requirement suddenly changed almost everything and the 660 00:38:09,280 --> 00:38:12,000 Speaker 1: amount of money that was saved. There's a double savings. 661 00:38:12,360 --> 00:38:14,600 Speaker 1: Not only do they get off of getting government money, 662 00:38:14,880 --> 00:38:17,840 Speaker 1: they go to work and pay taxes, and so suddenly 663 00:38:17,840 --> 00:38:20,040 Speaker 1: we had had a really big shift. But literally we 664 00:38:20,160 --> 00:38:24,160 Speaker 1: balanced it in four years. My guess is the current 665 00:38:24,160 --> 00:38:27,040 Speaker 1: budget is such a disaster that you could do it 666 00:38:27,080 --> 00:38:29,360 Speaker 1: in seven to ten. But I don't know that you 667 00:38:29,360 --> 00:38:31,759 Speaker 1: could do it a much less than that, but the 668 00:38:31,760 --> 00:38:34,840 Speaker 1: minute you started doing it, the interest rate effect and 669 00:38:34,880 --> 00:38:38,680 Speaker 1: the expectation effect would be literally that day. And that's 670 00:38:38,680 --> 00:38:42,399 Speaker 1: what happened to us back in that period. Listen. I hope, Charles, 671 00:38:42,440 --> 00:38:44,319 Speaker 1: we're gonna be able to do this again. I want 672 00:38:44,360 --> 00:38:47,000 Speaker 1: to thank you for joining me. You help me and 673 00:38:47,160 --> 00:38:50,399 Speaker 1: our listeners make sense of why we're experiencing such high 674 00:38:50,440 --> 00:38:54,000 Speaker 1: inflation and gas prices and what impact that has on 675 00:38:54,040 --> 00:38:57,399 Speaker 1: our current finances and our long term financial future. Having 676 00:38:57,520 --> 00:39:00,200 Speaker 1: your perspective of looking at this over the years is 677 00:39:00,320 --> 00:39:02,560 Speaker 1: very helpful, and I really want to thank you for 678 00:39:02,640 --> 00:39:04,640 Speaker 1: taking the time to be with us today. Oh it's 679 00:39:04,680 --> 00:39:06,400 Speaker 1: my pleasure. I want to thank you for having me. 680 00:39:10,640 --> 00:39:13,200 Speaker 1: Thank you to my guest, Charles thorn Grim. You can 681 00:39:13,320 --> 00:39:17,680 Speaker 1: learn more about his company, Legacy Precious Medals on our 682 00:39:17,680 --> 00:39:21,640 Speaker 1: show page at newtsworld dot com. Newts World is produced 683 00:39:21,680 --> 00:39:26,360 Speaker 1: by Gingwish three sixty and iHeartMedia. Our executive producer is 684 00:39:26,400 --> 00:39:30,759 Speaker 1: Garnsey Slope, our producer is Rebecca Howe, and our researcher 685 00:39:31,160 --> 00:39:34,760 Speaker 1: is Rachel Peterson. The artwork for the show was created 686 00:39:34,800 --> 00:39:38,240 Speaker 1: by Steve Penley. Special thanks to the team at Gingwish 687 00:39:38,239 --> 00:39:41,960 Speaker 1: three sixty. If you've been enjoying Newtsworld, I hope you'll 688 00:39:41,960 --> 00:39:45,160 Speaker 1: go to Apple Podcast and both rate us with five 689 00:39:45,239 --> 00:39:48,799 Speaker 1: stars and give us a review so others can learn 690 00:39:48,840 --> 00:39:53,040 Speaker 1: what it's all about. Right now, listeners of Newtsworld can 691 00:39:53,080 --> 00:39:57,000 Speaker 1: sign up for my three free weekly columns at gingwish 692 00:39:57,000 --> 00:40:02,120 Speaker 1: three sixty dot com slash newsletter. I'm Newt Gingrich. This 693 00:40:02,440 --> 00:40:05,319 Speaker 1: is Newt World, and this episode of newt World was 694 00:40:05,360 --> 00:40:07,880 Speaker 1: brought to you by Legacy Precious Metals.