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Speaker 1: Ever thought about owning a piece of history. Introducing the

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Speaker 1: Newt Gingrich Contract with America Coin from Legacy Precious Metals.

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Speaker 1: My limited edition silvercoin celebrates the historic Republican victory in

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Speaker 1: nineteen ninety four, marking a turning point in American politics.

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Speaker 1: Give a gift with real historical weight this season. Order

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Speaker 1: now at Newt gingrichsilvercoin dot Com. That's Newt gingrichsilvercoin dot Com.

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Speaker 1: On this episode of News World, but the Holidays coming up,

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Speaker 1: the average American will spend nine hundred and seventy five

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Speaker 1: dollars on presence this year. That's up by about one

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Speaker 1: hundred dollars from last year. And while we're spending more

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Speaker 1: this year, consumer credit card debt has reached a record

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Speaker 1: high of one trillion, eighty billion dollars in twenty twenty three.

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Speaker 1: We can attribute some of that debt to families trying

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Speaker 1: to a ends meet during this past year of record inflation.

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Speaker 1: As we look at in twenty twenty four, with the

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Speaker 1: presidential primaries coming up soon, the state of the economy

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Speaker 1: is one of the top issues on voters' minds. Today,

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Speaker 1: we're going to discuss the economy and more and why

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Speaker 1: it's so important to diversify your investment portfolio. So I'm

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Speaker 1: really pleased to welcome back my guests. Charles Thorngren, founder

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Speaker 1: and CEO of Legacy Precious Metals. Charles, welcome. Thank you

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Speaker 1: for joining me again in Newts World and for sort

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Speaker 1: of helping launch our discussion about the holiday season.

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Speaker 2: Oh, thank you. It's always a pleasure to be here.

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Speaker 2: Thank you for having me.

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Speaker 1: You know, I thought we might start with JP Morgan Chase,

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Speaker 1: CEO Jamie Diamond's remarks from the New York Times Deal

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Speaker 1: Book Summit on November twenty ninth, and he's talking with

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Speaker 1: Andrew Sorkin of CNBC.

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Speaker 3: Say, well, corporate profits are up.

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Speaker 1: This is up.

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Speaker 3: Yeah, corporate profits up because people are spending a lot

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Speaker 3: of money where they get the money the government gave

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Speaker 3: it to them. Well, of course profits are up. You know,

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Speaker 3: when they stop spending money, corporate profits will go down.

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Speaker 3: So I'm a little worried that we're in that little

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Speaker 3: bit of sugar high and we don't understand it.

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Speaker 1: What do you think about the sugar high reference? And

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Speaker 1: how do you see the economy.

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Speaker 2: It's a perfect analogy. And leave it to Jamie Diamond

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Speaker 2: to kind of break it down the way people can understand.

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Speaker 2: When you have that much free money in an economy,

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Speaker 2: it gets spent, and it doesn't get spent wisely, and

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Speaker 2: it doesn't get spent efficiently, and you run into the

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Speaker 2: situation to where now we are dealing with that supply

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Speaker 2: being gone. So how do these corporations who have been

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Speaker 2: able to run basically on free money now cut back

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Speaker 2: and actually try to operate on a normal budgeting schedule

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Speaker 2: under normal account terms. And that's where the difficulty comes from,

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Speaker 2: because they're not going to be able to make that transition.

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Speaker 2: On top of a time when that money disappears and

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Speaker 2: the economy startings to titan we're going to run into

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Speaker 2: that recession on top of these companies having to come

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Speaker 2: off of all of that free money. So you're going

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Speaker 2: to not only see the profitability go down, but you're

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Speaker 2: going to see it really shutter some of the smaller

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Speaker 2: companies that aren't able to manage that kind of transition.

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Speaker 2: That's the thing that I'm worried about the most.

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Speaker 1: So you think there could be a genuine credit squeeze

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Speaker 1: as they bring down.

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Speaker 2: The liquidity, Absolutely, I think they'll have to be because

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Speaker 2: as the money is less prevalent flowing to the banks.

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Speaker 2: They now have to safeguard their investments. They're not as free,

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Speaker 2: so that helps to create that credit squeeze that we're

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Speaker 2: going to see. Are you qualified for it? Am I

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Speaker 2: willing to take the risk on your company? And we're

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Speaker 2: going to see that be a resounding no.

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Speaker 1: So you know, the next Federal Reserve meeting is going

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Speaker 1: to be held December twelfth and thirteenth. The last meeting

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Speaker 1: was held October thirty first and November first, and the

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Speaker 1: previous meeting notes, which were released in November first, it says,

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Speaker 1: quote recent indicators suggest that economic activity expanded at a

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Speaker 1: strong pace in the third quarter. Job gains have moderated

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Speaker 1: since earlier in the year but remained strong, and the

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Speaker 1: unemployment rate has remained low. Inflation remains elevated. Now it

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Speaker 1: seems to me that it's possible that they're saying that

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Speaker 1: they have not actually quite brought inflation under control. What

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Speaker 1: do you think the Fed's going to do?

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Speaker 2: I know what they should do, but will they do that?

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Speaker 2: That's the question. And inflation isn't under control yet, just

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Speaker 2: because we've had a couple of good months where we

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Speaker 2: haven't seen increases, it doesn't mean inflation's gone. We're still

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Speaker 2: dealing with a number much higher than we like to

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Speaker 2: run through our program. The FED has always said want

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Speaker 2: two percent. We're nowhere close. Because it's come down a

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Speaker 2: little bit doesn't mean that things are fixed. And when

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Speaker 2: you say things like the unemployment rate has remained low,

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Speaker 2: that's part of that equation too. The FED has come

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Speaker 2: out and Shaman Palace said it many times, they were

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Speaker 2: tasked with not just inflation but keeping employment high. So

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Speaker 2: those two things are hard to do. When you begin

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Speaker 2: to go through a runaway inflation every period. The typical

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Speaker 2: way to slow that down is to increase the rate

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Speaker 2: interest rates, but it's also to let less money in

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Speaker 2: the system so people aren't freely spending. It's very difficult

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Speaker 2: to say we want full employment and we want to

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Speaker 2: bring inflation down.

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Speaker 1: In that sense. The Humphrey Hawkins Act, which created that

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Speaker 1: dual assignment, is probably a mistake because is the Fed's

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Speaker 1: job to protect the value of the dollar and seek

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Speaker 1: price stability, or is the Fed's job to maximize economic

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Speaker 1: growth and jobs even at the cost of inflation and

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Speaker 1: prices instability? And it seems to me that they're constantly

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Speaker 1: zigzagging back and forth trying to meet two very very

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Speaker 1: different assignments.

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Speaker 2: Absolutely, either one of those is difficult enough to manage

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Speaker 2: by itself. But this comes into big government. Big government

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Speaker 2: trying to dictate more and more of people's lives, and

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Speaker 2: part of that is trying to dictate the way business

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Speaker 2: operates as well. We know that as a country, we

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Speaker 2: run better when the government's less involved in the day

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Speaker 2: to day and that's where it gets fuzzy. And that's

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Speaker 2: why that act really didn't get the attention that it

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Speaker 2: should have, because it was clearly the government saying we

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Speaker 2: want the Federal Reserve to start monitoring business activity. We

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Speaker 2: want them to be involved in the business cycle in

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Speaker 2: ways that they've never been before and that they shouldn't be.

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Speaker 1: When you look at all of this, how much we

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Speaker 1: be concerned that you could have a dual crunch where

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Speaker 1: people are already deeply in debt and now jobs start

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Speaker 1: to tighten up and the Fed starts to tighten up

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Speaker 1: on the money supply. Couldn't that lead to a significant

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Speaker 1: problem in terms of people's ability to sustain their debt.

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Speaker 2: Absolutely, and typically you don't see that credit card rush

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Speaker 2: until you're deep into the recession already or on the

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Speaker 2: way out. And I've always looked at as kind of

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Speaker 2: a leading indicator that the recession is working its way

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Speaker 2: through the issue. Having it before the recession is fully

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Speaker 2: felt and called out means that we're starting way behind already.

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Speaker 2: And the thing that worries me tremendously about that is

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Speaker 2: that is how people are surviving now. But it's also

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Speaker 2: going to lead to the next crisis that we see

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Speaker 2: that will come up in housing, because that credit card

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Speaker 2: won't be there to save people when the race get

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Speaker 2: crazy and housing becomes a bigger issue, which is all

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Speaker 2: part of that cycle. And I know we look at

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Speaker 2: how and say, well, interest rates are kind of coming down,

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Speaker 2: won't that save that? That only saves that if the

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Speaker 2: employment stays up. But we know what happens when the

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Speaker 2: recession comes, when this contradiction happens in the economy, that

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Speaker 2: jobs will go away, so people won't have that fallback,

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Speaker 2: that safety money. And this is part of the cycle

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Speaker 2: of Americans not really saving like they should, and that

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Speaker 2: credit card number being so high is an indication of

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Speaker 2: that the savings weren't there. They had to go to

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Speaker 2: borrow money to survive.

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Speaker 1: With the rise in the interest rates leading to much

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Speaker 1: more expensive mortgages than we've seen in the last ten

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Speaker 1: or twelve years, then the price of housing has begun

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Speaker 1: to come down because people literally can't afford to buy

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Speaker 1: the house they used to want to buy because they

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Speaker 1: can't afford the mortgage. Does all that suggest to you

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Speaker 1: that there's going to be a tightening up of the

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Speaker 1: housing market.

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Speaker 2: I believe so. We see it throughout history. When you

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Speaker 2: have these elevations and interest rates, the price of houses

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Speaker 2: get so out of whack to what the average person makes,

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Speaker 2: it leaves you in a unique situation. And we saw

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Speaker 2: this in the last housing collapse that we had in

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Speaker 2: two thousand and eight and nine and through twenty eleven.

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Speaker 2: The bad part is that with the market being so

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Speaker 2: upside down and houses being so expensive, when they begin

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Speaker 2: to lose value, who takes that loss. The last time

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Speaker 2: we dealt with it, you had people giving back their

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Speaker 2: homes to the banks, and that led to a bank

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Speaker 2: crisis because now they have all of this unsold property

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Speaker 2: on their hands, and banks are not in the business

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Speaker 2: of property, they're in the business of loans. So holding

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Speaker 2: real estate, the actual physical property, having the bank own.

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Speaker 2: It leads to a very troubling incident on their balance sheet.

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Speaker 2: They now have a physical property instead of a loan.

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Speaker 2: How do you value that property, how do you manage

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Speaker 2: that property? It turns into a very vicious cycle. And

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Speaker 2: we saw that, so, you know, looking ahead, that's something

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Speaker 2: to be concerned about. What does the housing market do

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Speaker 2: on top of everything else that's going on, You know,

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Speaker 2: this is that leading problem.

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Speaker 1: One of the things I'm proud of stof was that

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Speaker 1: when I was Speaker, we balance the budget for four

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Speaker 1: consecutive years for the only time in your lifetime, and

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Speaker 1: we actually were in the process of paying down the

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Speaker 1: national debt when I left office. And I noticed that

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Speaker 1: in a recent Yahoo financed Hipsos poll done in October,

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Speaker 1: two thirds of the voters sixty six percent believe the

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Speaker 1: national debt has become a major problem with threatens the economy.

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Speaker 1: Eighty eight percent of Republicans, forty four percent of Democrats,

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Speaker 1: and sixty seven percent of independence believe that. I mean

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Speaker 1: that strikes me as a healthy shift of people begin

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Speaker 1: to realize that all of that's borrowing, both by individuals

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Speaker 1: but also by their own government, is in fact dangerous,

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Speaker 1: and that we had to move back towards a balanced budget.

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Speaker 1: Does that sort of fit your values?

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Speaker 2: Absolutely? And this is kind of a key tenant to

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Speaker 2: what we believe as a company is to protect yourself

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Speaker 2: because this kind of debt and this kind of runaway

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Speaker 2: spending by the government puts everything at risk. And when

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Speaker 2: we look at what we do with precious metals, that

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Speaker 2: is that hedge against that. So this is why we

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Speaker 2: tell people, when you see these kind of things happening,

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Speaker 2: you want to make sure you're protected. You understand how

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Speaker 2: difficult it is. Like you said, the last time we

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Speaker 2: had a ballot budget, we have to go back to

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Speaker 2: when you're helping run this country. So it's not easy

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Speaker 2: to get out of that debt. And this debt we're

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Speaker 2: in right now is exponentially bigger than what you had

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Speaker 2: to deal with. So how long does that take to fix?

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Speaker 1: This is the.

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Speaker 2: Things that we begin to worry about it as Americans,

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Speaker 2: But no one's talking about how it's going to be fixed.

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Speaker 2: There's going to be pain points. That's the only way

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Speaker 2: it works. And we have to say we as Americans,

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Speaker 2: we're going to vote into people who will do the

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Speaker 2: things that we need get the job done. And we

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Speaker 2: will go through the pain to write the ship, because

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Speaker 2: that's what it's going to take everyone involved.

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Speaker 1: Throughout history, there are clearer moments that define our nation's path,

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Speaker 1: and now you can own a piece of that history.

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Speaker 1: I am thrilled to announce the Newt Gingrich Contract with

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Speaker 1: America Coin from Legacy Precious Metals. My limited edition one

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Speaker 1: ounce silver coin commemorates the historic victory in nineteen ninety

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Speaker 1: four when the Republican Party under my leadership took control

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Speaker 1: of Congress. The Newt Gingriish Contract with America Coin also

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Speaker 1: symbolizes the transformative political platform that led to landmark achievements

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Speaker 1: like the overhaul of the welfare system and the Balanced

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Speaker 1: Budget Act. This holiday season, give the gift of history.

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Speaker 1: The Newt Gingrich Contract with America Coin is more than

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Speaker 1: an investment, is a tribute to honest government and to America.

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Speaker 1: Available to order right now by calling a six six

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Speaker 1: sixty six four eight four for zero four to three,

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Speaker 1: or order online at nutgingrishsilvercoin dot com. That's Newt gingrichsilvercoin

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Speaker 1: dot com. One of the signals that people are worried

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Speaker 1: about the future, and that people don't feel very comfortable

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Speaker 1: with the current monetary policy. The price of gold reached

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Speaker 1: an all time record high on Sunday, December third, at

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Speaker 1: twenty one hundred dollars an ounce. Now fell bound a

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Speaker 1: little bit the next day. But when you start getting

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Speaker 1: up in that spot gold level of twenty one hundred

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Speaker 1: dollars an ounce, considering that as late as the late

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Speaker 1: nineteen sixties it was thirty five dollars by law, that's

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Speaker 1: really pretty dramatic indication of sort of a flight to

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Speaker 1: safety and a fear about the future. I mean, would

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Speaker 1: that be an accurate way to think about gold at time?

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Speaker 1: Twenty one hundred dollars.

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Speaker 2: It's very accurate because that is the job of gold,

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Speaker 2: That is the job of silver. When you see those

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Speaker 2: elevated prices, you want to understand there's a common thinking

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Speaker 2: out there that, oh, it's at us all time high.

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Speaker 2: It's true, you know it's up there in those elevated levels.

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Speaker 2: But what we want to consider when we look at

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Speaker 2: that is the value of that gold now compared to

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Speaker 2: what it was when we had a balanced budget. Right,

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Speaker 2: So it's moved up dramatically, but not near as much

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Speaker 2: as our debt. Our debt is so significant that the

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Speaker 2: increase in gold doesn't cover the amount of additional debt

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Speaker 2: we need to service as a nation. So it does

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Speaker 2: move in those reasons, and it is why it has

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Speaker 2: moved up. That's correct, But it has a lot further

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Speaker 2: to go based on what it's going to take to

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Speaker 2: fix this economy. And that's the thing people want to

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Speaker 2: keep in mind. It may seem expensive now, but it's

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Speaker 2: nowhere near as expensive as it's going to be because

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Speaker 2: we have trillions and trillions of dollars that need to

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Speaker 2: be cleaned up in system. So it's really important to

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Speaker 2: understand that. So, yeah, we're moving to safety, but remember

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Speaker 2: we've just started. This market will be a market that

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Speaker 2: lasts for many, many years. It could be more than

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Speaker 2: a decade before we see it begin to pull back

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Speaker 2: with any real strength, because it's going to take some

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Speaker 2: time to fix the scenarios that we're living in right now.

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Speaker 1: I recently ran across the fact which I didn't know

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Speaker 1: that Congress by law when they went off the thirty

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Speaker 1: five dollars per round standard day by law set in

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Speaker 1: I think it's a forty two or forty three dollars

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Speaker 1: standard per rounds, and we still score all of the

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Speaker 1: gold owned by the federal government at forty three dollars,

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Speaker 1: even though on the market it's now around twenty one hundred.

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Speaker 1: And the US government owns a pretty good bit of gold,

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Speaker 1: which if you then valued it back up to twenty

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Speaker 1: one hundred, is a very significant amount of money that

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Speaker 1: could be used to offset a variety of things. People

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Speaker 1: tend to look at gold, and I know every time

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Speaker 1: we've talked you also think there's a significant role for silver,

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Speaker 1: and the silver is going to play a big part

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Speaker 1: of the future. Could you talk about how you think

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Speaker 1: about gold and silver together.

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Speaker 2: Gold and silver, To put it in simple terms, it's peanut,

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Speaker 2: butter and jelly. They belong together. They're made for each other. Right,

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Speaker 2: Gold has that allure, It has the higher price per ounce.

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Speaker 2: So when you're dealing in transactions of larger dollar amounts,

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Speaker 2: gold makes a lot of sense just because of the

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Speaker 2: storage requirements needed. When you start dealing in millions of

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Speaker 2: dollars of the metals, you know, a million dollars of

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Speaker 2: gold can be stored in a shoe box. A million

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Speaker 2: dollars in silver, we're going to take over your entire garage. Okay,

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Speaker 2: So from that point of view, you'll see why large

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Speaker 2: institutions and banks and central banks talk about gold and

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Speaker 2: not silver necessarily. But we as average people should be

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Speaker 2: looking at silver because it is so undervalued. It's affordable.

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Speaker 2: If you look at standard pricing and standard pricing ratios,

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Speaker 2: silver right now should be much closer to seventy dollars

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Speaker 2: an ounce than the twenty two to twenty three dollars

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Speaker 2: an ounce that it is now. That valuation is important

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Speaker 2: because that will eventually catch up. We have to look

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Speaker 2: at silver for very specific things. And you know we're

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Speaker 2: talking an electric world now, right. None of that happens

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Speaker 2: without silver. Silver is so vital to all of these

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Speaker 2: green technologies and every solar panel and all these electric vehicles,

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Speaker 2: and transferring away from fossil fuels takes a lot of silver.

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Speaker 2: It takes other elements as well, but silver is definitely

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Speaker 2: one of them. And every electronic instrument you own, and

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Speaker 2: every phone and every device that has silver in it.

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Speaker 2: So not only do you have the economic factors for silver,

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Speaker 2: you have the industrial factors for silver. If you're not

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Speaker 2: sure if you should be buying silver, I don't say

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Speaker 2: this often, but I'm going to say this, Trust me,

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Speaker 2: you should absolutely be buying silver. You will thank me

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Speaker 2: in a couple of years when you see what silver

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Speaker 2: does because it has no choice but to move up dramatically.

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Speaker 1: From your standpoint, I guess because silver is much more

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Speaker 1: intensely used as an industrial metal than gold is, there's

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Speaker 1: a much bigger potential demand in the market. Just at

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Speaker 1: a practical level. You see that as a significant long term.

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Speaker 2: Play absolutely, because we're not becoming less advanced in technology.

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Speaker 2: It seems like every year we become more and more

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Speaker 2: dependent on our device, on technology, on an instrument to

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Speaker 2: do things for us, and every one of those devices

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Speaker 2: is using silver in some form or fashion. So when

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Speaker 2: you look at that and you realize that like cars,

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Speaker 2: for instance, they're using substantially more silver now than they

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Speaker 2: have in the past. Every car has a computer, most

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Speaker 2: of them have some form of electric equivalent to it.

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Speaker 2: That's all silver, and a lot of that doesn't get

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Speaker 2: refined and come out and get recycled. So that's a

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Speaker 2: big issue. It's a scenario to where the demand on

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Speaker 2: silver is so great because of the multiple streams of

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Speaker 2: value to it, that it's going to have to move

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Speaker 2: up dramatically. It has no choice.

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Speaker 1: I thought it was such a clever thing to talk

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Speaker 1: about peanut butter and jelly and relate them to gold

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Speaker 1: and silver. I've decided to add in that platinum could

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Speaker 1: be the marshmallow of anybody who's ever had a marshmallow

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Speaker 1: and peanut butter and jelly sandwich. We don't talk much

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Speaker 1: about platinum. Why is that right?

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Speaker 2: Platum it's a great metal too. The reason we don't

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Speaker 2: talk about platinum as much is when currencies were being

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Speaker 2: created around the world and we began a lot of

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Speaker 2: trade throughout the world, it was gold and silver. There

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Speaker 2: wasn't a platinum that was recognized, so it was never

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Speaker 2: really established as a currency. Whereas gold and silver have

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Speaker 2: always been a currency. They were currency long before they

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Speaker 2: were jewelry per se, Right, so the world thinks in

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Speaker 2: those terms. And platinum it's a much more difficult precious

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Speaker 2: metal to deal with. To refine, it takes a lot

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Speaker 2: more effort, a lot higher heat. The applications that it has.

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Speaker 2: It has some graded applications and used to be in

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Speaker 2: every catalytic converter there was platinum, but then it got

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Speaker 2: too expensive and the cars got better, so they didn't

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Speaker 2: need it as much, so it moved into the world

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Speaker 2: of health where they use it on a lot of

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Speaker 2: devices that go intravenously. They have tips for all of

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Speaker 2: these capeters and things, and a lot of it's used there.

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Speaker 2: So as important as it is, it just doesn't have

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Speaker 2: the demand and it's not recognized as a currency yet.

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Speaker 2: It probably never will be because it's so difficult to

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Speaker 2: deal with recycling. It is almost impossible because of the

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Speaker 2: high heats that are required. It makes it very cost

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Speaker 2: and effective to do.

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Speaker 1: So.

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Speaker 2: This is why while platinum is a great metal to

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Speaker 2: invest in, it's a great way to diversify in your

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Speaker 2: metal portfolio. It shouldn't be the one to punch that

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Speaker 2: gold and silver are. It shouldn't be looked at. But

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Speaker 2: you want to make sure that you focus on your

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Speaker 2: gold in your silver first, and then if there's additional funds,

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Speaker 2: you look at the platinum.

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Speaker 1: This is sufficiently complicated. I think it's important for people

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Speaker 1: to realize that one of the major purposes at Legacy

379
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Speaker 1: Precious Metals is to simply help people think through their

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Speaker 1: investment portfolio and think through the different ways in which

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Speaker 1: they could move forward. Could you talk a little bit

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Speaker 1: about how you approach dealing with people at legacy precious

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Speaker 1: medals and how you try to organize the information for

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Speaker 1: them in a way that is to their advantage.

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Speaker 2: We want to help people protect themselves from what's going

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Speaker 2: on in the world, and everyone has a different variation

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Speaker 2: of what they need, so there is no one size

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00:21:45,200 --> 00:21:48,080
Speaker 2: fits all, and that's important and it's good right because

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00:21:48,119 --> 00:21:50,960
Speaker 2: each person has their own individual need. What we want

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Speaker 2: to be able to do is spend some time with you,

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Speaker 2: talk with you, give you some information. Let's figure out

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Speaker 2: what situation you're in so that we can begin to

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Speaker 2: talk about it scenario that would work for each person,

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Speaker 2: because not everyone has the same needs. Retirement dates different,

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Speaker 2: How much money do you need to live on, how

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Speaker 2: much are you giving to your heirs. There's so many

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Speaker 2: different little nuances in each portfolio that it's important to

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Speaker 2: know that the grand parameters are Metals are there for diversity.

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Speaker 2: Gold and silver are for your protection. When you have

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Speaker 2: a little bit more, you look at some platinum and

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Speaker 2: things like that. That's your foundation, but everything on top

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Speaker 2: of that is your home. That's where we tailor it

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Speaker 2: to your specific needs so that your investment will accomplish

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Speaker 2: what you need to have it accomplish. It will give

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Speaker 2: you the protection you need, it'll give you the growth

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00:22:40,320 --> 00:22:42,560
Speaker 2: that you need in a way that works for you.

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Speaker 2: And more importantly too, when you take all of that

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00:22:45,760 --> 00:22:49,400
Speaker 2: in there in a way that you understand that's important

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Speaker 2: to us that you spend the time with us so

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Speaker 2: that we can show you the options and that you

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Speaker 2: understand what they're doing.

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Speaker 1: Let's shore our listeners that you do have an entire

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Speaker 1: customer information center that if they go to eight sixty

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Speaker 1: six four eight four four to oh four three, and

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Speaker 1: I'll repeat that, eight sixty six four eight four four

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Speaker 1: to oh four three, that that's really an information center

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Speaker 1: for people to be able to share what they're trying

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Speaker 1: to accomplish and to ask the kind of questions about

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Speaker 1: the precious metals market and about how it fits into

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Speaker 1: a portfolio. And people can just do that without any

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Speaker 1: kind of obligation or any kind of risk. Is that right?

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Speaker 2: Absolutely? And it's so important for people to know that

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Speaker 2: we're not going to hound you. There's no high pressure

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Speaker 2: sales tactics. We share information because that's what matters the most,

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Speaker 2: getting the information that each person needs so that they

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Speaker 2: can make an informed decision for themselves, and that's one

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Speaker 2: of the great things about it. It makes us so

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Speaker 2: different from everyone else out there in this industry. We're

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Speaker 2: not just a bunch of salespeople on the phone. We

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Speaker 2: take more of the role of as an advisor to

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Speaker 2: show you what options are there, but more importantly to

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Speaker 2: answer questions. Because again, if we can go back and

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Speaker 2: have each individual understand why they've done what they've done,

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Speaker 2: and why they're invested the way they're invested, it gives

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Speaker 2: a peace of mind, because that's important. At the end

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Speaker 2: of the day. You should be comfortable with what your

437
00:24:15,520 --> 00:24:18,960
Speaker 2: investments are doing. If you don't know, that brings worry.

438
00:24:19,600 --> 00:24:21,639
Speaker 2: We don't want people to be worried. Let's remove the

439
00:24:21,720 --> 00:24:25,000
Speaker 2: fear from the investing and know that no matter what happens,

440
00:24:25,400 --> 00:24:28,240
Speaker 2: you have a plan in place that gives you protection.

441
00:24:29,080 --> 00:24:32,800
Speaker 1: That's important now as a part of that, one of

442
00:24:32,800 --> 00:24:35,000
Speaker 1: the things that's always interesting is because you are dealing

443
00:24:35,000 --> 00:24:39,240
Speaker 1: with physical commodities like gold or like silver, but people

444
00:24:39,280 --> 00:24:43,480
Speaker 1: actually have I think interestingly diverse ways of dealing with it.

445
00:24:43,520 --> 00:24:45,320
Speaker 1: Can you talk to us for a second about what

446
00:24:45,359 --> 00:24:48,399
Speaker 1: the different options are. If somebody does want to go

447
00:24:48,440 --> 00:24:50,040
Speaker 1: in and buy either gold or silver.

448
00:24:50,440 --> 00:24:54,200
Speaker 2: In terms of having it delivered, absolutely, there's many ways.

449
00:24:54,359 --> 00:24:57,520
Speaker 2: I'll touch on the three big ways. People can put

450
00:24:57,600 --> 00:24:59,920
Speaker 2: metals in an IRA. That's either an IRA that you

451
00:25:00,040 --> 00:25:02,199
Speaker 2: you have already and you want to transfer over and

452
00:25:02,240 --> 00:25:04,760
Speaker 2: put metals into it. That's an IRA that you can

453
00:25:04,800 --> 00:25:06,719
Speaker 2: set up. It could be an old four oh one K.

454
00:25:07,480 --> 00:25:09,720
Speaker 2: If you're in the military or reserving a government, you

455
00:25:09,720 --> 00:25:12,359
Speaker 2: have a TSP plan that can be moved as well.

456
00:25:12,720 --> 00:25:15,680
Speaker 2: That's what we call retirement money, right, so that can

457
00:25:15,720 --> 00:25:19,920
Speaker 2: be protected. But then you also have medals for home

458
00:25:19,960 --> 00:25:21,760
Speaker 2: delivery if you'd like to have them in the house,

459
00:25:22,119 --> 00:25:25,200
Speaker 2: that's available. If you'd like medals that aren't in an IRA,

460
00:25:25,560 --> 00:25:27,520
Speaker 2: but you don't want to necessarily have them in the

461
00:25:27,560 --> 00:25:30,760
Speaker 2: house you don't feel safe with them there, we can

462
00:25:30,800 --> 00:25:32,800
Speaker 2: help you get a vault where your medals are stored.

463
00:25:32,800 --> 00:25:35,680
Speaker 2: In a vault, you know they're safe. So we have

464
00:25:36,920 --> 00:25:40,399
Speaker 2: everything available as far as precious metals goes for you

465
00:25:40,480 --> 00:25:43,120
Speaker 2: to be able to either take delivery, have them stored,

466
00:25:43,560 --> 00:25:47,639
Speaker 2: keep them in a qualified retirement account, many ways to

467
00:25:47,680 --> 00:25:49,760
Speaker 2: deal with it, and we have all the options available.

468
00:25:50,440 --> 00:25:53,120
Speaker 2: So it's important to know that you have those options

469
00:25:53,440 --> 00:25:56,280
Speaker 2: because some people do want it at home and some

470
00:25:56,320 --> 00:25:59,639
Speaker 2: people don't, and the ability to do both is an

471
00:25:59,640 --> 00:26:02,280
Speaker 2: important thing, and we make that work for our customers

472
00:26:02,280 --> 00:26:05,639
Speaker 2: so that they have that protection at all times. They

473
00:26:05,640 --> 00:26:07,320
Speaker 2: don't feel comfortable with in the house. They don't have

474
00:26:07,359 --> 00:26:10,159
Speaker 2: to worry about it. They know it's secured and it's safe,

475
00:26:10,200 --> 00:26:12,960
Speaker 2: but they have that physical protection. They want it on hand,

476
00:26:13,440 --> 00:26:15,359
Speaker 2: they want to take it out of cocktail parties and

477
00:26:15,359 --> 00:26:17,440
Speaker 2: show everybody. They can do that too.

478
00:26:17,560 --> 00:26:19,040
Speaker 1: But if they don't want to take it out and

479
00:26:19,160 --> 00:26:21,840
Speaker 1: show it to everybody, Basically, you give them a certificate

480
00:26:22,160 --> 00:26:25,600
Speaker 1: and you hold the metal in a secure place until

481
00:26:25,640 --> 00:26:27,760
Speaker 1: they decide they want it. I mean, is that accurate?

482
00:26:28,440 --> 00:26:31,360
Speaker 2: Almost. What we do is we set up a vault

483
00:26:31,640 --> 00:26:35,000
Speaker 2: that each customer owns a spot in that vault, so

484
00:26:35,040 --> 00:26:37,360
Speaker 2: we help them set it up, but it's in their name,

485
00:26:38,040 --> 00:26:41,080
Speaker 2: so they always have ultimate control. We help them do

486
00:26:41,119 --> 00:26:44,640
Speaker 2: it absolutely, but more importantly, that's their metals in their

487
00:26:44,720 --> 00:26:47,920
Speaker 2: vault space, so they have access to it whenever they need.

488
00:26:57,680 --> 00:26:59,760
Speaker 1: I've always been a strong believer in the importance of

489
00:27:00,000 --> 00:27:03,400
Speaker 1: resting wisely. That's why I've personally invested in Legacy Precious

490
00:27:03,440 --> 00:27:07,080
Speaker 1: Medals At Legacy precious medals. They're not leaving your financial

491
00:27:07,080 --> 00:27:09,439
Speaker 1: future to chance. They're in a mission to help you

492
00:27:09,520 --> 00:27:13,480
Speaker 1: secure your financial future post retirement in partnership with them.

493
00:27:13,800 --> 00:27:16,640
Speaker 1: I'm thrilled to announce the launch of the Newt Gingrich

494
00:27:16,760 --> 00:27:20,320
Speaker 1: Contract with America Coin. This limited edition coin is made

495
00:27:20,320 --> 00:27:23,280
Speaker 1: of one ounce of ninety nine point ninety nine percent

496
00:27:23,480 --> 00:27:27,600
Speaker 1: fine silver, commemorating the historic moment when against all odds,

497
00:27:27,920 --> 00:27:30,760
Speaker 1: we balance the budget for the last time in US history.

498
00:27:31,160 --> 00:27:33,879
Speaker 1: This coin isn't just an investment, it's a piece of

499
00:27:33,920 --> 00:27:37,080
Speaker 1: our nation's history and now you can own it. As

500
00:27:37,119 --> 00:27:40,640
Speaker 1: the holiday season approaches, it's the perfect gift. You can

501
00:27:40,680 --> 00:27:44,760
Speaker 1: purchase yours today by calling eight sixty six four eight

502
00:27:44,840 --> 00:27:48,320
Speaker 1: four for zero four to three. That's eight six six

503
00:27:48,760 --> 00:27:51,960
Speaker 1: four eight four for zero four to three, or order

504
00:27:52,040 --> 00:28:02,200
Speaker 1: online at Newt gingrissilvercoin dot com. That's Newt gingrissilvercoin dot com.

505
00:28:02,359 --> 00:28:05,200
Speaker 1: This being the Christmas season, we do have one piece

506
00:28:05,200 --> 00:28:08,560
Speaker 1: of exciting news which developed which was a great surprise

507
00:28:08,600 --> 00:28:10,720
Speaker 1: when you first talked to me about it. Why don't

508
00:28:10,720 --> 00:28:12,600
Speaker 1: you just take them out and share with our customers

509
00:28:12,600 --> 00:28:15,280
Speaker 1: here at Christmas time about this project that we have

510
00:28:15,400 --> 00:28:16,280
Speaker 1: collaborated on.

511
00:28:16,920 --> 00:28:19,440
Speaker 2: Absolutely, I would love to. We've been talking a little

512
00:28:19,440 --> 00:28:22,240
Speaker 2: bit now and we've gotten to great detail many times,

513
00:28:22,240 --> 00:28:25,800
Speaker 2: and we've talked about what your term as Speaker did

514
00:28:25,960 --> 00:28:28,560
Speaker 2: for the country and how balancing the budget was so important,

515
00:28:28,760 --> 00:28:30,719
Speaker 2: and you know, it kind of struck me because this

516
00:28:30,760 --> 00:28:33,840
Speaker 2: is what we're dealing with right now. We have all

517
00:28:33,880 --> 00:28:36,760
Speaker 2: of these things that are not in the places they

518
00:28:36,760 --> 00:28:38,760
Speaker 2: should be. We don't have a flow of the government

519
00:28:38,800 --> 00:28:41,960
Speaker 2: the way that it should And I was thinking, remember

520
00:28:42,000 --> 00:28:44,479
Speaker 2: back when, you know, when Newton was doing it, and

521
00:28:44,600 --> 00:28:47,320
Speaker 2: Newt took the hard road and got everyone on board.

522
00:28:47,760 --> 00:28:51,920
Speaker 2: You know, it wasn't just one side across the board,

523
00:28:52,360 --> 00:28:55,400
Speaker 2: got everyone to say, let's focus on Americans for a minute.

524
00:28:55,560 --> 00:28:59,360
Speaker 2: Let's give them what they need. And I said, you

525
00:28:59,400 --> 00:29:03,120
Speaker 2: know what we should do. Let's talk with Newt. Let's

526
00:29:03,200 --> 00:29:07,480
Speaker 2: create a new Gingridge coin. Let's celebrate that contract with America.

527
00:29:07,960 --> 00:29:11,000
Speaker 2: Let's celebrate the fact that you went out there and

528
00:29:11,040 --> 00:29:14,720
Speaker 2: did what the country needed and thought of the people first.

529
00:29:15,240 --> 00:29:17,440
Speaker 2: And at first it just started as a little idea

530
00:29:17,880 --> 00:29:20,000
Speaker 2: and I was talking with a development team. I'm thinking,

531
00:29:20,880 --> 00:29:22,560
Speaker 2: I'd really like to do this. What do you think

532
00:29:22,600 --> 00:29:24,840
Speaker 2: we should do it? And the answer was we should

533
00:29:24,840 --> 00:29:27,760
Speaker 2: absolutely do it. Let's talk with Newt and see if

534
00:29:27,800 --> 00:29:30,640
Speaker 2: he's on board. And I remember the shock when we

535
00:29:30,720 --> 00:29:32,640
Speaker 2: brought it to you, and I think it took a

536
00:29:32,680 --> 00:29:34,760
Speaker 2: little bit for you to have it sink in and

537
00:29:34,800 --> 00:29:36,520
Speaker 2: realize that we were talking about putting you on a

538
00:29:36,560 --> 00:29:39,120
Speaker 2: silver coin. I think you're a little shy about it

539
00:29:39,200 --> 00:29:41,160
Speaker 2: at first, to be honest, but I think it came

540
00:29:41,200 --> 00:29:42,920
Speaker 2: around and that was good, and we've got up with

541
00:29:42,960 --> 00:29:44,120
Speaker 2: something I think is amazing.

542
00:29:44,480 --> 00:29:46,480
Speaker 1: What really sold me was the fact that one side

543
00:29:46,520 --> 00:29:49,440
Speaker 1: of the coin. You actually managed to put the contract

544
00:29:49,440 --> 00:29:52,000
Speaker 1: on one side of the coin, so it's really kind

545
00:29:52,000 --> 00:29:55,440
Speaker 1: of a contract with America Coin with Newt Gingridge on it.

546
00:29:55,880 --> 00:29:58,480
Speaker 1: I could live with that, And I think historically it's

547
00:29:58,640 --> 00:30:01,320
Speaker 1: very cool because you know, it was the first time

548
00:30:01,360 --> 00:30:04,320
Speaker 1: Republicans who had taken control in forty years. As I

549
00:30:04,360 --> 00:30:07,200
Speaker 1: said earlier, it's the only time in our lifetime that

550
00:30:07,240 --> 00:30:09,880
Speaker 1: we balanced the budget for four years. We did get

551
00:30:09,920 --> 00:30:12,760
Speaker 1: welfare reform done, we did a lot of stuff like that,

552
00:30:12,880 --> 00:30:14,720
Speaker 1: and so in that sense, I think it was a

553
00:30:14,840 --> 00:30:18,080
Speaker 1: unique moment in history, and to have a truly unique

554
00:30:18,640 --> 00:30:21,920
Speaker 1: silver coin to celebrate it and reflect it. I'm very

555
00:30:21,960 --> 00:30:24,600
Speaker 1: touched I have to say when I saw the first

556
00:30:24,600 --> 00:30:28,520
Speaker 1: coin that came out, I was pretty emotional because it's

557
00:30:28,600 --> 00:30:31,080
Speaker 1: not something you ever think will happen in your lifetime.

558
00:30:31,640 --> 00:30:34,720
Speaker 1: You guys did great, and it's available for order for

559
00:30:34,880 --> 00:30:39,600
Speaker 1: Christmas and beyond at Nut gingrichsilvercoin dot Com. I can't

560
00:30:39,600 --> 00:30:42,000
Speaker 1: tell you how much I am grateful to Legacy Precious

561
00:30:42,040 --> 00:30:45,719
Speaker 1: Metals and to you Charles for having come up with it,

562
00:30:45,800 --> 00:30:48,640
Speaker 1: persevered on it, talked me into it, and then I

563
00:30:48,720 --> 00:30:51,760
Speaker 1: had no idea how many different complexities there were to

564
00:30:51,880 --> 00:30:55,840
Speaker 1: actually casting a coin and how much artistry, and I

565
00:30:55,880 --> 00:30:57,959
Speaker 1: mean a lot of stuff goes into a coin. So

566
00:30:58,440 --> 00:31:00,640
Speaker 1: I'm very proud of the Nut Gingrid Silver Coin.

567
00:31:00,920 --> 00:31:03,560
Speaker 2: I thought it was important in the memorialize the event.

568
00:31:03,920 --> 00:31:07,080
Speaker 2: The contract with America was important. We still love your

569
00:31:07,160 --> 00:31:09,880
Speaker 2: humbleness about it. You were a driving factor to make

570
00:31:09,920 --> 00:31:13,320
Speaker 2: that happen. In my opinion, no new Gangridge in office,

571
00:31:13,520 --> 00:31:16,840
Speaker 2: no contract with America. I know you'll disagree, so just

572
00:31:17,000 --> 00:31:18,800
Speaker 2: allow me that levity there to say that.

573
00:31:19,200 --> 00:31:21,520
Speaker 1: You can say it, I won't, And I think it's

574
00:31:21,520 --> 00:31:23,880
Speaker 1: important for the future of the country that we get

575
00:31:23,880 --> 00:31:27,719
Speaker 1: back to the kind of positive, methodical reforms that actually

576
00:31:27,800 --> 00:31:30,320
Speaker 1: work that we did in that period. So in that sense,

577
00:31:30,640 --> 00:31:33,920
Speaker 1: the coin's a great reminder it has been done, it

578
00:31:34,000 --> 00:31:36,160
Speaker 1: can be done, and we need to do it again

579
00:31:36,240 --> 00:31:38,760
Speaker 1: in my judgment. And as I said, people can go

580
00:31:38,840 --> 00:31:42,800
Speaker 1: to newganngrishsilvercoin dot com and they'll see what we're talking about. Charles,

581
00:31:42,960 --> 00:31:46,240
Speaker 1: this holiday season, I want to thank you for joining

582
00:31:46,280 --> 00:31:48,040
Speaker 1: me and for helping me, and for helping all of

583
00:31:48,080 --> 00:31:50,479
Speaker 1: our listeners. You know, there's so much going on in

584
00:31:50,480 --> 00:31:53,320
Speaker 1: the current economy and having somebody like you who has

585
00:31:53,360 --> 00:31:57,080
Speaker 1: a long view and a very sophisticated view really does

586
00:31:57,200 --> 00:31:59,480
Speaker 1: help us think about how to say for our retirement

587
00:31:59,480 --> 00:32:03,480
Speaker 1: with a dow portfolio that includes precious metals like gold

588
00:32:03,480 --> 00:32:06,480
Speaker 1: and silver, but also just your common sense approach I

589
00:32:06,480 --> 00:32:09,520
Speaker 1: think is very comforting and very helpful, and I want

590
00:32:09,560 --> 00:32:12,640
Speaker 1: our listeners to know if they want more information, they

591
00:32:12,640 --> 00:32:16,120
Speaker 1: can call Charles and his team at Legacy Precious Medals

592
00:32:16,160 --> 00:32:20,520
Speaker 1: directly at eight six six four eight four four oh

593
00:32:20,640 --> 00:32:25,120
Speaker 1: four three. That's eight six six four eight four four

594
00:32:25,240 --> 00:32:30,160
Speaker 1: oh four three, or visit by Legacygold dot com slash

595
00:32:30,200 --> 00:32:33,520
Speaker 1: newt and Charles. I hope you have a wonderful holiday season,

596
00:32:33,960 --> 00:32:36,320
Speaker 1: and I think this has just been a terrific conversation.

597
00:32:36,840 --> 00:32:38,800
Speaker 2: Thank you, sir. I hope you have a wonderful holiday

598
00:32:38,800 --> 00:32:42,520
Speaker 2: season as well. Enjoy the family, enjoy the rest, and

599
00:32:42,840 --> 00:32:44,560
Speaker 2: thank you again so much for having us, and thank

600
00:32:44,560 --> 00:32:46,160
Speaker 2: you for everything you do. We appreciate you.

601
00:32:48,480 --> 00:32:51,360
Speaker 1: Thank you to my guest, Charles Thornburn. You can learn

602
00:32:51,400 --> 00:32:55,800
Speaker 1: more about Legacy Precious Medals at buy Legacygold dot com.

603
00:32:55,840 --> 00:32:59,800
Speaker 1: Slash newt Newts World is produced by Gamelis Sweet sixty

604
00:33:00,080 --> 00:33:04,920
Speaker 1: and iHeartMedia. Our executive producer is Guarnsey Slump. Our researcher

605
00:33:05,240 --> 00:33:08,760
Speaker 1: is Rachel Peterson. The artwork for the show was created

606
00:33:08,760 --> 00:33:12,360
Speaker 1: by Steve Penley. Special thanks to the team at Gingers

607
00:33:12,400 --> 00:33:15,760
Speaker 1: three sixty. If you've been enjoying Newtsworld, I hope you'll

608
00:33:15,760 --> 00:33:18,560
Speaker 1: go to Apple Podcast and both rate us with five

609
00:33:18,600 --> 00:33:22,120
Speaker 1: stars and give us a review so others can learn

610
00:33:22,160 --> 00:33:25,600
Speaker 1: what it's all about. Right now, listeners of Newtsworld can

611
00:33:25,640 --> 00:33:29,560
Speaker 1: sign up from my three free weekly columns at gingrishree

612
00:33:29,600 --> 00:33:35,560
Speaker 1: sixty dot com slash newsletter. I'm Newt Gingrich. This is Newtsworld,

613
00:33:35,680 --> 00:33:38,440
Speaker 1: and this episode of Newsworld was brought to you by

614
00:33:38,520 --> 00:33:50,960
Speaker 1: Legacy Precious Medals. Ever thought about owning a piece of history,

615
00:33:51,480 --> 00:33:55,760
Speaker 1: Introducing the Newt Gingrich Contract with America Coin from Legacy

616
00:33:55,800 --> 00:34:00,240
Speaker 1: Precious Medals. My limited edition silver coin celebrates it's the

617
00:34:00,360 --> 00:34:04,200
Speaker 1: historic Republican victory in nineteen ninety four, marking a turning

618
00:34:04,240 --> 00:34:08,360
Speaker 1: point in American politics. Give a gift with real historical

619
00:34:08,440 --> 00:34:13,440
Speaker 1: weight this season. Order now at Newt gingrichsilvercoin dot com.

620
00:34:13,520 --> 00:34:16,280
Speaker 1: That's Newt gingrichsilvercoin dot com.