1 00:00:00,080 --> 00:00:03,640 Speaker 1: The revolution in investing is here. With Legacy Precious Metals 2 00:00:03,680 --> 00:00:08,320 Speaker 1: new online platform, you can invest in gold and silver anytime, anywhere, 3 00:00:08,840 --> 00:00:11,320 Speaker 1: choose your amounts, have them stored in a vault or 4 00:00:11,360 --> 00:00:14,360 Speaker 1: shipped to you, and track your growth in real time. 5 00:00:14,760 --> 00:00:17,959 Speaker 1: And with inflation impacting the cost of living and volatiley 6 00:00:17,960 --> 00:00:20,439 Speaker 1: in the stock market, there has never been a better 7 00:00:20,480 --> 00:00:22,960 Speaker 1: time to invest in gold and silver. That's why I 8 00:00:23,040 --> 00:00:26,560 Speaker 1: invest with Legacy Precious Metals. Sign up for your free 9 00:00:26,560 --> 00:00:31,720 Speaker 1: account online today at buy Legacygold dot com. That's buy 10 00:00:32,120 --> 00:00:39,000 Speaker 1: Legacygold dot Com. On this episode of Newts World, we 11 00:00:39,080 --> 00:00:42,320 Speaker 1: all watched as Washington negotiated over the debt ceiling in 12 00:00:42,360 --> 00:00:45,240 Speaker 1: early June, making many of us wonder if they would 13 00:00:45,240 --> 00:00:47,360 Speaker 1: come to an agreement in time so the United States 14 00:00:47,400 --> 00:00:51,000 Speaker 1: would not default on insteads. The banking industry is under fire, 15 00:00:51,400 --> 00:00:55,440 Speaker 1: with federal regulators taking over Silicon Valley Bank in California, 16 00:00:55,560 --> 00:00:58,160 Speaker 1: then Signature Bank in New York, and we now have 17 00:00:58,640 --> 00:01:02,080 Speaker 1: the recent announcement of the Credit Sweel merger. And then 18 00:01:02,120 --> 00:01:05,360 Speaker 1: there's the continuing issue of rising inflation, which we are 19 00:01:05,400 --> 00:01:09,240 Speaker 1: all feeling in our personal finances. Today, we're going to 20 00:01:09,240 --> 00:01:12,280 Speaker 1: talk about all these topics and more, and why it's 21 00:01:12,319 --> 00:01:16,319 Speaker 1: so important to diversify your investments. I'm really pleased to 22 00:01:16,360 --> 00:01:20,399 Speaker 1: welcome back my guest, Charles Thornbrun, founder and CEO of 23 00:01:20,480 --> 00:01:31,600 Speaker 1: Legacy Precious Metals. Charles, welcome, and thank you for joining 24 00:01:31,640 --> 00:01:32,920 Speaker 1: me once again on news World. 25 00:01:33,400 --> 00:01:35,720 Speaker 2: Oh, thank you for having me back. It's truly a pleasure. 26 00:01:36,000 --> 00:01:38,280 Speaker 1: I thought we could begin with kind of an overview 27 00:01:38,680 --> 00:01:41,080 Speaker 1: of the US economy because you watch all of these 28 00:01:41,520 --> 00:01:45,320 Speaker 1: different things from a very sophisticated background. So let me 29 00:01:45,319 --> 00:01:49,160 Speaker 1: start with the debt ceiling and how that evolved and 30 00:01:49,280 --> 00:01:52,680 Speaker 1: what the final result was in the what was called 31 00:01:52,680 --> 00:01:56,000 Speaker 1: the Fiscal Responsibility Act of twenty twenty three. Were you 32 00:01:56,240 --> 00:01:59,120 Speaker 1: concerned that they might in fact not get to an 33 00:01:59,160 --> 00:02:01,440 Speaker 1: agreement and we might actually default. 34 00:02:01,880 --> 00:02:03,120 Speaker 2: It was a concern of mine. 35 00:02:03,560 --> 00:02:07,480 Speaker 3: As much as we need to balance what's going on 36 00:02:07,640 --> 00:02:10,800 Speaker 3: and really begin to bring some common sense to the 37 00:02:10,800 --> 00:02:14,360 Speaker 3: way we spend money, you never want to default, So 38 00:02:14,680 --> 00:02:16,959 Speaker 3: that was a big concern for us, not to pay 39 00:02:17,000 --> 00:02:19,880 Speaker 3: our bills. It's not something to be taken lightly, even 40 00:02:19,960 --> 00:02:22,280 Speaker 3: as a term to bring people to the table. 41 00:02:22,880 --> 00:02:25,120 Speaker 2: So it was a very large concern of mine. 42 00:02:25,160 --> 00:02:27,840 Speaker 3: And I will say that I believe there's very few 43 00:02:27,840 --> 00:02:30,160 Speaker 3: people who would have been able to accomplish what Speaker 44 00:02:30,240 --> 00:02:34,000 Speaker 3: McCarthy actually did if you look at what was on 45 00:02:34,040 --> 00:02:34,560 Speaker 3: the line. 46 00:02:35,040 --> 00:02:37,160 Speaker 2: So, yes, it was a big concern of mine. 47 00:02:37,680 --> 00:02:40,760 Speaker 1: I think Speaker McCarthy would admit this was kind of 48 00:02:42,080 --> 00:02:45,360 Speaker 1: better than nothing, but not much. It's a first step 49 00:02:45,440 --> 00:02:48,200 Speaker 1: towards what they are going to try to do. As 50 00:02:48,240 --> 00:02:50,919 Speaker 1: you know, the House Republicans have now announced that the 51 00:02:50,960 --> 00:02:54,760 Speaker 1: Appropriations Committee is actually going to mark up bills one 52 00:02:54,800 --> 00:02:59,320 Speaker 1: hundred billion dollars below the Fiscal Responsibility Act, so they're 53 00:02:59,360 --> 00:03:02,520 Speaker 1: going to put on major push to cut discretionary non 54 00:03:02,560 --> 00:03:06,720 Speaker 1: defense spending by a significant amount. But the truth is 55 00:03:07,360 --> 00:03:09,680 Speaker 1: the long term process of gett into a balanced budget 56 00:03:10,080 --> 00:03:12,480 Speaker 1: is going to take a lot more heavy lifting than 57 00:03:12,480 --> 00:03:15,079 Speaker 1: a courage just in that bill. To me, it was 58 00:03:15,120 --> 00:03:18,040 Speaker 1: also a reminder we're in kind of a fragile environment. 59 00:03:18,120 --> 00:03:22,359 Speaker 1: You've got a Democratic president, you've got a barely Democratic 60 00:03:22,400 --> 00:03:25,119 Speaker 1: majority in the Senate with a couple of Democrats who 61 00:03:25,440 --> 00:03:28,480 Speaker 1: frequently don't vote with their own party anymore, and then 62 00:03:28,520 --> 00:03:32,120 Speaker 1: you've got a very thin House Republican majority, and you 63 00:03:32,200 --> 00:03:35,600 Speaker 1: have a country which is facing a lot of challenges. 64 00:03:36,120 --> 00:03:39,360 Speaker 1: And I think that it's important to recognize when we 65 00:03:39,440 --> 00:03:42,360 Speaker 1: go into this appropriations process, which is the next step 66 00:03:43,120 --> 00:03:46,119 Speaker 1: that you have, the Senate does not want to cut 67 00:03:46,120 --> 00:03:48,840 Speaker 1: spending as much as the House. The President doesn't want 68 00:03:48,840 --> 00:03:51,240 Speaker 1: to cut spending at all, and it's going to be 69 00:03:51,800 --> 00:03:55,520 Speaker 1: five or six or seven months of constant arm twisting 70 00:03:55,960 --> 00:03:59,600 Speaker 1: and maneuvering and negotiating. I went through this in nineteen 71 00:03:59,640 --> 00:04:03,400 Speaker 1: ninety five with President Clinton, and that got very rough 72 00:04:03,440 --> 00:04:07,200 Speaker 1: and tumble. We ultimately ended up closing the government twice, 73 00:04:07,400 --> 00:04:10,760 Speaker 1: once for twenty six days, just in a struggle over 74 00:04:10,840 --> 00:04:13,000 Speaker 1: whether or not we were going to turn the corner 75 00:04:13,040 --> 00:04:16,440 Speaker 1: and start cutting spending. So I have a hunch this 76 00:04:16,640 --> 00:04:20,840 Speaker 1: is going to be a period of some tumultuous negotiations, 77 00:04:21,279 --> 00:04:24,000 Speaker 1: and that can sometimes have a market effect as the 78 00:04:24,000 --> 00:04:27,840 Speaker 1: market begins to feel unstable about what the future looks like. 79 00:04:28,360 --> 00:04:31,240 Speaker 1: What's your general view of the scale of the debt 80 00:04:31,279 --> 00:04:34,200 Speaker 1: we're building up and the scale of the interest payments 81 00:04:34,200 --> 00:04:38,520 Speaker 1: and the debt. It strikes me that it's ultimately pretty unsustainable. Well, 82 00:04:38,520 --> 00:04:39,240 Speaker 1: what's your view? 83 00:04:39,920 --> 00:04:42,600 Speaker 3: You are correct, it is unsustainable, and I think when 84 00:04:42,640 --> 00:04:45,279 Speaker 3: we look at it, and again, the fact that we 85 00:04:46,440 --> 00:04:48,120 Speaker 3: had the speaker be able to get us to the 86 00:04:48,160 --> 00:04:50,520 Speaker 3: table so that we can begin to fix a problem. 87 00:04:50,760 --> 00:04:54,920 Speaker 3: It starts there, but the market will respond. We have 88 00:04:54,960 --> 00:04:58,360 Speaker 3: a debt level that is not sustainable. We used to 89 00:04:58,400 --> 00:05:00,680 Speaker 3: mark bad debt in the billions of do dollars. We're 90 00:05:00,720 --> 00:05:03,039 Speaker 3: now in the trillions of dollars. And it happened very 91 00:05:03,120 --> 00:05:06,800 Speaker 3: very quickly. So when you look at the amount of 92 00:05:06,920 --> 00:05:10,760 Speaker 3: resources that are going to go towards just managing that debt, 93 00:05:11,440 --> 00:05:15,120 Speaker 3: it's a significant amount of our GDP. And this is 94 00:05:15,200 --> 00:05:18,000 Speaker 3: the problem, and this is why you said we will 95 00:05:18,000 --> 00:05:21,400 Speaker 3: see fights to come, and it's important that we do. 96 00:05:22,680 --> 00:05:26,719 Speaker 3: On the current trajectory, we should be looking at one 97 00:05:26,839 --> 00:05:29,800 Speaker 3: hundred and twenty five percent of our GDP going to 98 00:05:29,920 --> 00:05:35,000 Speaker 3: pay our deficit by the year twenty thirty three. That 99 00:05:35,080 --> 00:05:38,919 Speaker 3: is as unsustainable as it can get. That's considered bankruptcy 100 00:05:39,000 --> 00:05:41,520 Speaker 3: by any normal processing. If it were you and I, 101 00:05:41,640 --> 00:05:44,840 Speaker 3: we would be bankrupt. The problem is we can't have 102 00:05:44,920 --> 00:05:48,640 Speaker 3: the government go bankrupt. It ties to everything that we do. 103 00:05:49,200 --> 00:05:53,120 Speaker 3: A functioning government's important. If we want to be the 104 00:05:53,200 --> 00:05:57,560 Speaker 3: country that the world looks to for protection, for advice, 105 00:05:57,839 --> 00:06:00,440 Speaker 3: for help, we need to be strong. And I think 106 00:06:00,480 --> 00:06:04,400 Speaker 3: this is what a lot of people misunderstand about that 107 00:06:04,400 --> 00:06:07,400 Speaker 3: that debt is an important part of the factor. We 108 00:06:07,600 --> 00:06:11,040 Speaker 3: do not take care of our debt, it gives those 109 00:06:11,120 --> 00:06:14,920 Speaker 3: who want to work against us the opportunity to truly 110 00:06:14,960 --> 00:06:17,400 Speaker 3: work against us in a way that we see like 111 00:06:17,440 --> 00:06:20,960 Speaker 3: in Africa. China has such a stronghold there for those 112 00:06:21,040 --> 00:06:24,160 Speaker 3: resources because of what they've done, and that goes against 113 00:06:24,240 --> 00:06:27,200 Speaker 3: everything that we want to do because of the nature 114 00:06:27,240 --> 00:06:30,359 Speaker 3: of it. So it's important that we begin to focus 115 00:06:30,400 --> 00:06:33,480 Speaker 3: on that and the markets will. We saw that when 116 00:06:33,520 --> 00:06:35,880 Speaker 3: we thought there was going to be a shutdown, you know, 117 00:06:35,920 --> 00:06:38,880 Speaker 3: the equities markets were all over the place, and we'll 118 00:06:38,920 --> 00:06:41,880 Speaker 3: see more of that. The problem that comes there is 119 00:06:41,920 --> 00:06:43,760 Speaker 3: now we're going to be doing it as we've been 120 00:06:43,880 --> 00:06:48,640 Speaker 3: through almost a year plus of high interest rates of 121 00:06:48,760 --> 00:06:52,520 Speaker 3: high inflation, So it becomes a much harder battle at 122 00:06:52,520 --> 00:06:57,320 Speaker 3: that point as Americans begin wearing out their savings to 123 00:06:57,400 --> 00:07:00,800 Speaker 3: pay for the increase in living because of inflation. So 124 00:07:00,880 --> 00:07:04,240 Speaker 3: it leads us to a point where that fight becomes 125 00:07:04,279 --> 00:07:08,120 Speaker 3: so much harder, and the equities markets will respond in kind. 126 00:07:08,760 --> 00:07:11,680 Speaker 3: People will be concerned when people aren't buying equities, they 127 00:07:11,720 --> 00:07:15,440 Speaker 3: go down. This is one of the major concerns when 128 00:07:15,480 --> 00:07:19,280 Speaker 3: you're dealing with long term debt and the public process 129 00:07:19,280 --> 00:07:23,040 Speaker 3: of thinking about debt, because we feel it ourselves. 130 00:07:23,120 --> 00:07:26,200 Speaker 1: With the scale of the debt we're building up, we're 131 00:07:26,240 --> 00:07:29,600 Speaker 1: going to be paying more in interest on the debt 132 00:07:30,160 --> 00:07:33,520 Speaker 1: than we pay for all of our national defense. Then 133 00:07:33,560 --> 00:07:37,480 Speaker 1: the long run, that's just unsustainable. Your tax money is 134 00:07:37,560 --> 00:07:41,200 Speaker 1: going to go to a huge percent not to pay 135 00:07:41,200 --> 00:07:43,600 Speaker 1: off the debt, but just to pay the interest on 136 00:07:43,680 --> 00:07:46,760 Speaker 1: the debt, and that's bound to have a depressing effect 137 00:07:47,520 --> 00:07:50,760 Speaker 1: on the economy at large. I think it's one of 138 00:07:50,760 --> 00:07:53,360 Speaker 1: the reasons why when I was Speaker, we worked very 139 00:07:53,440 --> 00:07:57,440 Speaker 1: very hard and we got to four consecutive balanced budgets. 140 00:07:57,480 --> 00:08:00,640 Speaker 1: But I also know we're going through a transition here, 141 00:08:00,640 --> 00:08:02,360 Speaker 1: and I want to get your thoughts without this, because 142 00:08:03,240 --> 00:08:05,480 Speaker 1: what happens, in part is when you have a very 143 00:08:05,520 --> 00:08:09,440 Speaker 1: inflationary period and the Federal Reserve makes money available very 144 00:08:09,560 --> 00:08:12,880 Speaker 1: very cheaply, which they did partly in response to the 145 00:08:12,920 --> 00:08:17,840 Speaker 1: COVID pandemic and partly because they wanted to sustain the economy. 146 00:08:18,120 --> 00:08:20,040 Speaker 1: But what that does is it leads to some really 147 00:08:20,080 --> 00:08:24,680 Speaker 1: bad habits. And then when you start to close down 148 00:08:24,920 --> 00:08:27,680 Speaker 1: that flow of money and you start to raise the 149 00:08:27,760 --> 00:08:31,840 Speaker 1: interest rates. There's some folks who've made gambles that assumed 150 00:08:31,920 --> 00:08:34,960 Speaker 1: that cheap money was going to go on forever. To 151 00:08:35,000 --> 00:08:38,040 Speaker 1: what extent do you think the fact that credit suites 152 00:08:38,120 --> 00:08:41,920 Speaker 1: basically went broke and there was sort of a forced merger. 153 00:08:42,040 --> 00:08:47,160 Speaker 1: UBS was essentially required to take over a credit suite, 154 00:08:47,760 --> 00:08:49,160 Speaker 1: what did that signal tell you? 155 00:08:50,400 --> 00:08:54,640 Speaker 3: The biggest signal that tells me is that inflation and 156 00:08:54,720 --> 00:08:58,280 Speaker 3: interest rates are not just an American problem, their world problem. 157 00:08:58,800 --> 00:09:05,200 Speaker 3: When you have an institution like Credit Swise begin to 158 00:09:05,280 --> 00:09:08,000 Speaker 3: suffer and have to be bought out so it doesn't 159 00:09:08,000 --> 00:09:12,520 Speaker 3: collapse by another group, that's a bad sign. Credit Swee 160 00:09:12,679 --> 00:09:14,600 Speaker 3: is not a new bank. They're not a bank that 161 00:09:15,120 --> 00:09:19,800 Speaker 3: is unnecessary either. They fit a specific part of the economy. 162 00:09:20,240 --> 00:09:24,440 Speaker 3: They created loans and they did transactions with companies that 163 00:09:24,480 --> 00:09:28,400 Speaker 3: were more startups. They did have longer were established companies, 164 00:09:28,440 --> 00:09:32,640 Speaker 3: but they fit a specific need in the economy, not 165 00:09:33,000 --> 00:09:35,400 Speaker 3: just overseas but here in America too. 166 00:09:35,960 --> 00:09:39,640 Speaker 2: So any time that you have and let's. 167 00:09:39,480 --> 00:09:43,080 Speaker 3: Call this what it was, a forced merger by the government, 168 00:09:43,760 --> 00:09:47,559 Speaker 3: the Swiss government saying UBS, we need you to step 169 00:09:47,600 --> 00:09:51,040 Speaker 3: in here and take over Credit Swise. We need you 170 00:09:51,080 --> 00:09:54,280 Speaker 3: to do that so that we don't lose our national economy. 171 00:09:54,720 --> 00:09:57,120 Speaker 3: We need you to do that so we have the 172 00:09:57,160 --> 00:10:03,160 Speaker 3: ability to continue to thrive and grow. Ubs did what 173 00:10:03,800 --> 00:10:07,640 Speaker 3: I consider to be something quite smart and business oriented. 174 00:10:07,679 --> 00:10:12,400 Speaker 3: They said, okay, we're going to do this. However, we 175 00:10:12,559 --> 00:10:15,080 Speaker 3: normally would not do this because of the debt of 176 00:10:15,160 --> 00:10:20,080 Speaker 3: Credit Suite. You want us to assume their bad debt. 177 00:10:20,280 --> 00:10:22,640 Speaker 3: They're in trouble because they made some bad bets as 178 00:10:22,640 --> 00:10:24,480 Speaker 3: a bank, they funded some bad loans. 179 00:10:25,440 --> 00:10:26,400 Speaker 2: Why should we do that? 180 00:10:28,120 --> 00:10:31,599 Speaker 3: And with that, the Swiss government said, we're going to 181 00:10:31,679 --> 00:10:34,640 Speaker 3: guarantee you not to get hit with losses. 182 00:10:35,240 --> 00:10:36,400 Speaker 2: We're going to assume up. 183 00:10:36,280 --> 00:10:40,280 Speaker 3: To nine billion dollars in losses. And when you approach 184 00:10:40,320 --> 00:10:44,400 Speaker 3: any businessman, any business entity, and you give them that 185 00:10:44,520 --> 00:10:46,839 Speaker 3: kind of guarantee, of course they're going to take it 186 00:10:47,400 --> 00:10:52,040 Speaker 3: because now they get to acquire all of the customers, 187 00:10:52,640 --> 00:10:55,120 Speaker 3: all of the collateral of credit Suites, but none of 188 00:10:55,120 --> 00:11:00,120 Speaker 3: the debt. And that's bad because someone has to pay 189 00:11:00,160 --> 00:11:02,320 Speaker 3: for it. And you know as well as I do, 190 00:11:03,520 --> 00:11:07,760 Speaker 3: it always comes down to the people. Government money is 191 00:11:07,840 --> 00:11:10,800 Speaker 3: just the people's money. So you have that scenario to 192 00:11:10,800 --> 00:11:15,640 Speaker 3: where the Swiss people are paying for the bad decisions 193 00:11:16,240 --> 00:11:19,520 Speaker 3: by Credit swees and this is something that we've seen. 194 00:11:19,640 --> 00:11:21,880 Speaker 3: We've seen it in two thousand and eight. This is 195 00:11:21,920 --> 00:11:25,520 Speaker 3: how we have all the joint companies now Bank of America, 196 00:11:25,600 --> 00:11:29,480 Speaker 3: Merrill Lynch, JP, Morgan Chase. It's a similar situation. 197 00:11:30,000 --> 00:11:34,079 Speaker 1: It's pretty sobering that the guarantee that the Swiss government 198 00:11:34,120 --> 00:11:37,960 Speaker 1: gave in order to get this pulled off actually means 199 00:11:38,000 --> 00:11:42,960 Speaker 1: that in theory, every person in Switzerland is potentially liable 200 00:11:43,000 --> 00:11:46,640 Speaker 1: for up to thirteen five hundred dollars, I mean every 201 00:11:46,640 --> 00:11:50,079 Speaker 1: single person in order to get through this banking crisis. 202 00:11:50,559 --> 00:11:52,720 Speaker 1: And this, as you point out, this is the second 203 00:11:52,720 --> 00:11:56,120 Speaker 1: time that we have seen this in fifteen years. It's 204 00:11:56,160 --> 00:11:58,680 Speaker 1: one of the arguments we're trying to think about long 205 00:11:58,760 --> 00:12:02,160 Speaker 1: term stability and your investment plans and not get trapped 206 00:12:02,200 --> 00:12:04,600 Speaker 1: in any one thing. Now, what about the two American 207 00:12:04,640 --> 00:12:07,520 Speaker 1: banks that also were taken over. Were they different from 208 00:12:07,559 --> 00:12:08,400 Speaker 1: Credit Sueeze. 209 00:12:08,840 --> 00:12:13,160 Speaker 3: They were a little different comparative to where their bad 210 00:12:13,240 --> 00:12:16,600 Speaker 3: debt was formated. You have some of them dealing in 211 00:12:16,640 --> 00:12:19,720 Speaker 3: the crypto economy, some of them being a startup bank 212 00:12:19,920 --> 00:12:22,760 Speaker 3: focusing on startup companies. But it's more of the same 213 00:12:22,800 --> 00:12:28,080 Speaker 3: bad decision making. You had a bank that they weren't 214 00:12:28,360 --> 00:12:31,160 Speaker 3: familiar with banking. They didn't know how to ladder out 215 00:12:31,200 --> 00:12:35,040 Speaker 3: their debt so that they were covered. And it's a 216 00:12:35,080 --> 00:12:38,280 Speaker 3: shame because think about how long everyone was talking about 217 00:12:38,280 --> 00:12:42,840 Speaker 3: inflation before we had the Federal Reserve. Admit, it wasn't 218 00:12:42,880 --> 00:12:46,240 Speaker 3: just transitory, so they can't say they didn't have warning. 219 00:12:46,920 --> 00:12:48,600 Speaker 3: It's just really a matter of the fact that they 220 00:12:48,600 --> 00:12:51,319 Speaker 3: didn't pay attention to it. They had a process they 221 00:12:51,320 --> 00:12:54,760 Speaker 3: were using. They had an aggressive amount of money invested 222 00:12:54,800 --> 00:12:59,440 Speaker 3: in startup companies and in cryptocurrencies, and not enough in 223 00:12:59,480 --> 00:13:03,880 Speaker 3: secure assets that made sense. So when you're laddering your debt, 224 00:13:03,920 --> 00:13:05,920 Speaker 3: these are things you pay attention to, and these two 225 00:13:06,000 --> 00:13:10,000 Speaker 3: banks didn't do it. One was highly exposed to cryptocurrencies. 226 00:13:10,200 --> 00:13:12,800 Speaker 3: The other was highly exposed to commercial real estate, which 227 00:13:12,880 --> 00:13:16,120 Speaker 3: we're showing and seeing it is suffering right now, and 228 00:13:16,160 --> 00:13:18,360 Speaker 3: it's another shoe yet to drop on this economy of 229 00:13:18,400 --> 00:13:21,280 Speaker 3: ours is the commercial real estate. But this is where 230 00:13:21,320 --> 00:13:23,360 Speaker 3: these banks would awry. 231 00:13:32,760 --> 00:13:35,560 Speaker 1: Are you worried about your future assets after recent events 232 00:13:35,559 --> 00:13:39,160 Speaker 1: in banking cut through the market uncertainty With the tried 233 00:13:39,240 --> 00:13:43,240 Speaker 1: and true safe haven against volatility gold when it comes 234 00:13:43,240 --> 00:13:45,920 Speaker 1: to investing in gold and silver, I trust and invest 235 00:13:46,000 --> 00:13:50,200 Speaker 1: with Legacy Precious Metals. Legacy Precious Metals makes it easy 236 00:13:50,240 --> 00:13:54,520 Speaker 1: to invest in precious metals with its revolutionary online platform. 237 00:13:54,880 --> 00:13:57,559 Speaker 1: With just a few clicks, you can open your account, 238 00:13:57,800 --> 00:14:01,400 Speaker 1: select your medals, and start investing. They can store your 239 00:14:01,400 --> 00:14:04,480 Speaker 1: metals and vaults or ship them directly to you, and 240 00:14:04,520 --> 00:14:07,559 Speaker 1: you'll have access to a personalized dashboard where you can 241 00:14:07,600 --> 00:14:11,360 Speaker 1: track your portfolio growth in real time, putting you in 242 00:14:11,440 --> 00:14:15,920 Speaker 1: complete control of your money. With Legacy Precious Metals, diversify 243 00:14:16,000 --> 00:14:20,600 Speaker 1: your portfolio beyond stocks and bonds, safeguard your retirement, and 244 00:14:20,720 --> 00:14:25,320 Speaker 1: preserve your portfolio's value against inflation. Protect your hard earned 245 00:14:25,320 --> 00:14:29,040 Speaker 1: money from market fluctuations. Call Legacy Precious Metals at eight 246 00:14:29,160 --> 00:14:32,720 Speaker 1: sixty six four eight four for zero four to three. 247 00:14:32,960 --> 00:14:36,720 Speaker 1: That's eight sixty six four eight four for zero four 248 00:14:36,760 --> 00:14:40,520 Speaker 1: to three, or create your free account at buy legacygold 249 00:14:40,600 --> 00:14:48,640 Speaker 1: dot com. That's buy legacygold dot com. Even with all 250 00:14:48,680 --> 00:14:50,800 Speaker 1: the steps we are seeing so far from the Federal Reserve, 251 00:14:51,280 --> 00:14:53,720 Speaker 1: I mean, there's still a lot of inflation out there. 252 00:14:54,760 --> 00:14:56,280 Speaker 1: It isn't like they've won the fight. 253 00:14:56,800 --> 00:15:00,280 Speaker 3: That's why it was very confusing to me when we 254 00:15:00,400 --> 00:15:05,080 Speaker 3: paused on the interest rate. If you're truly looking to 255 00:15:05,120 --> 00:15:09,960 Speaker 3: take advantage and stamp out inflation, taking this last month 256 00:15:10,040 --> 00:15:14,600 Speaker 3: off of an increase its counterproductive. It made me say 257 00:15:14,880 --> 00:15:17,720 Speaker 3: to myself, where is the next you to drop? What 258 00:15:17,760 --> 00:15:20,200 Speaker 3: do they know that we don't know? Is it more 259 00:15:20,240 --> 00:15:23,920 Speaker 3: banking issues? Will another increase now cause more trouble in 260 00:15:23,960 --> 00:15:26,760 Speaker 3: the banking system, Because if our ultimate goal is to 261 00:15:26,840 --> 00:15:30,320 Speaker 3: really bring inflation back down to two percent, we have 262 00:15:30,480 --> 00:15:34,840 Speaker 3: it moving at a point where possibly moving down step harder. 263 00:15:35,160 --> 00:15:38,640 Speaker 3: Don't lighten up. We don't want this to be what 264 00:15:38,640 --> 00:15:42,560 Speaker 3: they've said, years long of this inflation area rate, years 265 00:15:42,600 --> 00:15:43,760 Speaker 3: long of this interest rate. 266 00:15:44,000 --> 00:15:47,720 Speaker 1: Don't you think they're sort of dancing between fear of 267 00:15:47,720 --> 00:15:50,400 Speaker 1: inflation and fear of causing a steep recession. 268 00:15:51,400 --> 00:15:54,680 Speaker 3: I think they are. But if we're being honest about it, 269 00:15:55,360 --> 00:15:58,920 Speaker 3: you can't deal with this level of inflation without a recession. 270 00:16:00,000 --> 00:16:03,520 Speaker 3: It's almost an impossibility. As you said, we've had so 271 00:16:03,640 --> 00:16:06,120 Speaker 3: much free money in the system, and we've trained so 272 00:16:06,200 --> 00:16:08,800 Speaker 3: many new businesses who don't know what it means to 273 00:16:08,880 --> 00:16:13,920 Speaker 3: operate without the free, easy money that you have to 274 00:16:14,000 --> 00:16:16,800 Speaker 3: have the wake up call, and it's going to require 275 00:16:16,800 --> 00:16:19,960 Speaker 3: a recession. I know that's not a popular thing to say, 276 00:16:20,440 --> 00:16:22,680 Speaker 3: but if we're being realistic and we really want to 277 00:16:22,720 --> 00:16:26,479 Speaker 3: prepare for what's to happen, we need to realize recessions 278 00:16:26,520 --> 00:16:29,640 Speaker 3: are a part of economies, and we've taken all the 279 00:16:29,680 --> 00:16:33,760 Speaker 3: actions necessary to create a recession. How they handle it 280 00:16:33,800 --> 00:16:35,680 Speaker 3: going forward determines how. 281 00:16:35,560 --> 00:16:36,280 Speaker 2: Bad it gets. 282 00:16:36,840 --> 00:16:41,320 Speaker 3: So by playing this game of balancing, they're making the 283 00:16:41,400 --> 00:16:45,800 Speaker 3: recession stronger and lasts longer. And that's my concern. When 284 00:16:45,840 --> 00:16:48,840 Speaker 3: you had the opportunity to take a positive step to 285 00:16:48,920 --> 00:16:53,200 Speaker 3: knocking down inflation, they didn't take it. It felt to 286 00:16:53,240 --> 00:16:55,720 Speaker 3: me that they were beginning to play more politics than 287 00:16:55,720 --> 00:16:58,040 Speaker 3: they were economic principle. 288 00:16:57,800 --> 00:17:01,480 Speaker 1: Which means you're likely to have more inflation over the 289 00:17:01,520 --> 00:17:04,320 Speaker 1: next couple of years than anybody would have projected. At 290 00:17:04,400 --> 00:17:07,359 Speaker 1: least that's what it feels like to me. So in 291 00:17:07,400 --> 00:17:12,320 Speaker 1: that context, with instability in the banking system, with the 292 00:17:12,359 --> 00:17:15,280 Speaker 1: scale of the federal death that's building up, and with 293 00:17:15,440 --> 00:17:20,360 Speaker 1: the federals are still unable to bring inflation under control, 294 00:17:20,920 --> 00:17:25,040 Speaker 1: how does all that fit into what you've developed in 295 00:17:25,119 --> 00:17:28,840 Speaker 1: what you call the New Legacy Investing platform, and how 296 00:17:28,840 --> 00:17:32,600 Speaker 1: does that fit into how people should think about their investments. 297 00:17:33,200 --> 00:17:35,679 Speaker 3: With everything going on, it makes more sense now than 298 00:17:35,720 --> 00:17:39,640 Speaker 3: ever to be diversified. And what we wanted to do 299 00:17:40,200 --> 00:17:46,080 Speaker 3: was to bring the ability for people to diversify in 300 00:17:46,119 --> 00:17:48,200 Speaker 3: all the forms and fashion that are comfortable for them. 301 00:17:48,640 --> 00:17:50,760 Speaker 3: We have the ability for people to call us up 302 00:17:50,800 --> 00:17:53,000 Speaker 3: if they're not sure what to do, call us and 303 00:17:53,080 --> 00:17:55,560 Speaker 3: we can talk about it and show them options. If 304 00:17:55,560 --> 00:17:58,639 Speaker 3: you have someone who knows, they can open up an 305 00:17:58,640 --> 00:18:00,600 Speaker 3: account with us and they can handle that their investments 306 00:18:00,640 --> 00:18:04,800 Speaker 3: right online, be able to track everything online. The goal 307 00:18:04,920 --> 00:18:07,560 Speaker 3: was to make it easy for every American to be 308 00:18:07,640 --> 00:18:11,080 Speaker 3: able to protect themselves. Not everyone likes to talk to people, 309 00:18:11,440 --> 00:18:15,080 Speaker 3: not everyone has the time to So we said, how 310 00:18:15,119 --> 00:18:19,160 Speaker 3: do we help Americans do what we know will help 311 00:18:19,200 --> 00:18:21,040 Speaker 3: them in the long term so that they can help 312 00:18:21,080 --> 00:18:23,520 Speaker 3: themselves and their neighbors and their family. And this is 313 00:18:23,520 --> 00:18:26,800 Speaker 3: what we came up with. Let's give them access in 314 00:18:26,840 --> 00:18:30,359 Speaker 3: a way that's convenient for everyone. Whether it's through email, 315 00:18:30,400 --> 00:18:32,280 Speaker 3: whether it's through a phone call, whether through it's an 316 00:18:32,320 --> 00:18:36,040 Speaker 3: online app. They now have the ability to take what 317 00:18:36,160 --> 00:18:38,360 Speaker 3: is going to be one of the more important processes 318 00:18:38,600 --> 00:18:41,640 Speaker 3: and more important steps they have towards their long term 319 00:18:41,840 --> 00:18:45,840 Speaker 3: financial wellbeing and present it in every form and fashion 320 00:18:45,880 --> 00:18:47,880 Speaker 3: that's digestible and easy for them to use. 321 00:18:49,080 --> 00:18:52,639 Speaker 1: Then the last two major US economic crashes, the price 322 00:18:52,680 --> 00:18:56,000 Speaker 1: of gold actually doubled. What drives it when. 323 00:18:55,840 --> 00:18:59,600 Speaker 3: You look at metals, understand that your gold and silver, 324 00:18:59,680 --> 00:19:02,960 Speaker 3: and and I'll say gold because it's synonymous with all 325 00:19:03,000 --> 00:19:08,680 Speaker 3: of the precious metals. It is the counterbalance to government spending. 326 00:19:08,760 --> 00:19:13,280 Speaker 3: It's the counterbalance to a currency valuation. The weaker the 327 00:19:13,359 --> 00:19:16,800 Speaker 3: dollar gets, the less it buys, the purchasing power that disappears. 328 00:19:17,000 --> 00:19:19,879 Speaker 3: The more expensive gold gets because it takes more of 329 00:19:19,920 --> 00:19:22,960 Speaker 3: those dollars to buy that gold, because gold is valued 330 00:19:23,000 --> 00:19:26,359 Speaker 3: by the world. So what you're really doing is looking 331 00:19:26,359 --> 00:19:30,800 Speaker 3: at it as like an insurance policy against government overspend, 332 00:19:31,520 --> 00:19:37,159 Speaker 3: against bad budgeting, against inflation. It is the thing that 333 00:19:37,400 --> 00:19:41,840 Speaker 3: offers that hedge against inflation, and it has done so 334 00:19:42,000 --> 00:19:46,600 Speaker 3: over time, so when we see major events happen in 335 00:19:46,640 --> 00:19:49,600 Speaker 3: the economy, it responds in kind. This is where you 336 00:19:49,640 --> 00:19:51,720 Speaker 3: see these giant moves, and it has the ability to 337 00:19:51,760 --> 00:19:54,560 Speaker 3: double and sometimes even more from where it was when 338 00:19:54,600 --> 00:19:55,440 Speaker 3: everything started. 339 00:19:55,960 --> 00:19:58,280 Speaker 2: But even in the smaller things, we're. 340 00:19:58,119 --> 00:20:00,679 Speaker 3: All guilty of it. We've all heard it. When I 341 00:20:00,720 --> 00:20:04,080 Speaker 3: was eighteen years old this costs this well. It works 342 00:20:04,080 --> 00:20:07,400 Speaker 3: in that aspect too, so it helps you protect against 343 00:20:07,480 --> 00:20:10,439 Speaker 3: just the average long term inflation, even if it's in 344 00:20:10,480 --> 00:20:15,280 Speaker 3: a controllable fashion. But it aggressively works when you have 345 00:20:15,400 --> 00:20:18,880 Speaker 3: times of economic trouble, when you have times of high inflation, 346 00:20:19,320 --> 00:20:22,480 Speaker 3: when recession's kicking in and the purchasing power is gone. 347 00:20:22,680 --> 00:20:25,239 Speaker 3: This is where your metals come in and give you 348 00:20:25,280 --> 00:20:29,920 Speaker 3: that balance. It's that protection. This is why we say diversify. 349 00:20:30,240 --> 00:20:32,560 Speaker 3: We've never told anyone to move all your money into gold. 350 00:20:32,600 --> 00:20:35,160 Speaker 3: We wouldn't do that. But you have to have enough 351 00:20:35,200 --> 00:20:38,600 Speaker 3: to offset the decline that we know is going to happen. 352 00:20:39,080 --> 00:20:42,520 Speaker 3: And this is the ultimate purpose of what precious metals, 353 00:20:42,600 --> 00:20:46,360 Speaker 3: gold and silverde Is it beautiful yes, But more important 354 00:20:46,400 --> 00:20:49,480 Speaker 3: than that, it has a place in your portfolio so 355 00:20:49,680 --> 00:20:52,480 Speaker 3: you can sleep well at night. You know you have balance. 356 00:21:02,680 --> 00:21:05,120 Speaker 1: You've worked hard for your savings. What are you doing 357 00:21:05,160 --> 00:21:08,000 Speaker 1: to protect its value? We all know the stock market 358 00:21:08,040 --> 00:21:12,440 Speaker 1: is volatile. By diversifying your portfolio, you can protect yourself 359 00:21:12,600 --> 00:21:16,440 Speaker 1: from an unpredictable market. That's why I invest with Legacy 360 00:21:16,480 --> 00:21:21,080 Speaker 1: Precious Metals. Legacy Precious Metals has a revolutionary new platform 361 00:21:21,440 --> 00:21:25,119 Speaker 1: that allows you to invest in real gold and silver online. 362 00:21:25,560 --> 00:21:28,640 Speaker 1: They may investing in gold and silver simple. Just open 363 00:21:28,680 --> 00:21:32,240 Speaker 1: an online account, select your medals of choice, and choose 364 00:21:32,280 --> 00:21:34,480 Speaker 1: to have them stored in a vault or shipped to 365 00:21:34,520 --> 00:21:38,080 Speaker 1: your door. You'll have access to a personalized dashboard where 366 00:21:38,119 --> 00:21:42,320 Speaker 1: you can track your portfolio growth in real time anytime. 367 00:21:42,920 --> 00:21:46,440 Speaker 1: Create your free account online at buy Legacygold dot com 368 00:21:46,560 --> 00:21:49,560 Speaker 1: or give their experts a call today at age six 369 00:21:49,680 --> 00:21:53,680 Speaker 1: six four eight four for zero four to three. Even 370 00:21:53,720 --> 00:21:56,080 Speaker 1: in the event of a stock market, housing market, or 371 00:21:56,160 --> 00:21:59,720 Speaker 1: banking collapse, gold and silver have been shown to retain 372 00:21:59,760 --> 00:22:03,080 Speaker 1: their worth. Don't leave your future up to chance. Call 373 00:22:03,240 --> 00:22:07,119 Speaker 1: Legacy Precious Medals today at age six six four eight 374 00:22:07,240 --> 00:22:16,840 Speaker 1: four for zero four three or visit by Legacygold dot com. 375 00:22:16,960 --> 00:22:20,800 Speaker 1: There has been some news articles about the precious metals 376 00:22:20,840 --> 00:22:24,560 Speaker 1: industry having to deal with the Federal Trade Commission. Can 377 00:22:24,600 --> 00:22:27,600 Speaker 1: you talk about both the industry as a whole, the 378 00:22:27,640 --> 00:22:30,600 Speaker 1: Federal Trade Commission, and how Legacy is different. 379 00:22:31,480 --> 00:22:33,560 Speaker 3: This is one of the big dilemmas in this industry. 380 00:22:33,920 --> 00:22:37,760 Speaker 3: The precious metals. Physical metals are not a regulated environment. 381 00:22:38,280 --> 00:22:41,639 Speaker 3: There's no licensure needed. You're relying on the integrity of 382 00:22:41,640 --> 00:22:44,320 Speaker 3: the person that you're speaking to, in the integrity of 383 00:22:44,359 --> 00:22:47,240 Speaker 3: the person who's established the company, and that's where it 384 00:22:47,240 --> 00:22:50,199 Speaker 3: gets troublesome. There are companies out there who are just 385 00:22:50,240 --> 00:22:53,160 Speaker 3: out to make money, and there's nothing wrong with making money, 386 00:22:53,280 --> 00:22:56,560 Speaker 3: you just have to do with integrity. The ultimate goal 387 00:22:56,640 --> 00:23:00,520 Speaker 3: is for the customer to make money. The client should 388 00:23:00,760 --> 00:23:04,920 Speaker 3: feel and see the results of their investment. The company 389 00:23:04,920 --> 00:23:06,760 Speaker 3: should make a profit so they can take care of 390 00:23:06,760 --> 00:23:09,440 Speaker 3: their bills and be there for their customer. So there's 391 00:23:09,480 --> 00:23:14,240 Speaker 3: always that balance, and we do see the CFTC actively 392 00:23:14,320 --> 00:23:19,560 Speaker 3: pursuing companies right now who overcharge, who appeal to a 393 00:23:19,640 --> 00:23:23,440 Speaker 3: fear mongering of sorts to have people sell off all 394 00:23:23,440 --> 00:23:27,200 Speaker 3: their assets and buy precious metals at an exaggerated price. 395 00:23:27,520 --> 00:23:30,760 Speaker 3: And that's one of the conversations I have with people 396 00:23:30,800 --> 00:23:32,840 Speaker 3: who have fallen into this trap. And they get a 397 00:23:32,840 --> 00:23:35,160 Speaker 3: hold of us and say this is what I have, 398 00:23:35,240 --> 00:23:37,879 Speaker 3: what happened, and I walk them through it. It's a 399 00:23:37,920 --> 00:23:41,159 Speaker 3: heartbreaking conversation to have with people, but we have to 400 00:23:41,240 --> 00:23:44,199 Speaker 3: let them know what happened, and you'll see them buying 401 00:23:44,240 --> 00:23:48,760 Speaker 3: metals they're tolder this is a numismatic coin, or this 402 00:23:48,840 --> 00:23:51,840 Speaker 3: is something that's private or this is something that's special. 403 00:23:51,880 --> 00:23:53,720 Speaker 3: It's not your average gold investment. 404 00:23:54,280 --> 00:23:54,800 Speaker 2: And while that. 405 00:23:54,800 --> 00:23:59,280 Speaker 3: Sounds attractive, they don't realize they're being charged thirty five, forty, 406 00:23:59,400 --> 00:24:03,440 Speaker 3: sometimes as much as fifty percent premiums for those items. 407 00:24:04,359 --> 00:24:05,200 Speaker 2: It's heartbreaking. 408 00:24:05,680 --> 00:24:08,200 Speaker 3: And so when I read these articles of these companies 409 00:24:08,200 --> 00:24:12,040 Speaker 3: that are being investigated by the CFTC, it actually makes 410 00:24:12,080 --> 00:24:15,320 Speaker 3: me happy because this is something this industry needed. It 411 00:24:15,400 --> 00:24:18,000 Speaker 3: needed to be swept up of the people who were 412 00:24:18,000 --> 00:24:21,880 Speaker 3: out there without good intentions, and we're seeing it happen. 413 00:24:21,960 --> 00:24:25,359 Speaker 3: So that's a good thing. So when you're looking at metals, 414 00:24:25,440 --> 00:24:27,520 Speaker 3: you want to understand that. You know, one of the 415 00:24:27,640 --> 00:24:29,520 Speaker 3: key questions you want to ask the person on the 416 00:24:29,520 --> 00:24:32,520 Speaker 3: phone if you're talking to them, is how much this 417 00:24:32,560 --> 00:24:34,800 Speaker 3: is charging me? What are you charging me for this service? 418 00:24:34,920 --> 00:24:37,680 Speaker 3: Because there's always a charge for service, and if they 419 00:24:37,720 --> 00:24:41,480 Speaker 3: can't answer that, you have problems. You should be looking 420 00:24:41,480 --> 00:24:44,320 Speaker 3: between seven and ten percent that's what it should cost 421 00:24:44,400 --> 00:24:48,080 Speaker 3: to average out a fair price for your metals, to 422 00:24:48,080 --> 00:24:50,879 Speaker 3: get it delivered and have everything set up. We're on 423 00:24:50,920 --> 00:24:53,920 Speaker 3: the lower end of that. Most of these companies out 424 00:24:53,920 --> 00:24:55,960 Speaker 3: there that you see, they're in the thirty five percent 425 00:24:56,040 --> 00:24:56,679 Speaker 3: or more region. 426 00:24:57,040 --> 00:24:59,960 Speaker 1: Wow, that really takes a lot of money out of 427 00:25:00,119 --> 00:25:03,200 Speaker 1: your investment in your savings just in order to make 428 00:25:03,240 --> 00:25:03,960 Speaker 1: that transaction. 429 00:25:04,600 --> 00:25:07,159 Speaker 3: It puts you so far behind the ball that the 430 00:25:07,200 --> 00:25:09,439 Speaker 3: metals can't even do their job for you at that point. 431 00:25:09,720 --> 00:25:11,440 Speaker 1: Well, you know, one of the reasons I've always liked 432 00:25:11,440 --> 00:25:14,119 Speaker 1: talking with you is that you deliberately set out to 433 00:25:14,200 --> 00:25:18,199 Speaker 1: create and Legacy Gold a different kind of company, with 434 00:25:18,280 --> 00:25:23,320 Speaker 1: a different kind of openness and customer orientation, an educational approach, 435 00:25:23,359 --> 00:25:27,080 Speaker 1: so people are making informed decisions. And you've now launched 436 00:25:27,119 --> 00:25:30,400 Speaker 1: your new online investing platforms only a few months old. 437 00:25:30,760 --> 00:25:33,840 Speaker 1: Tell me about why this is a significant break in 438 00:25:33,920 --> 00:25:37,399 Speaker 1: terms of helping people understand what they're doing and helping 439 00:25:37,440 --> 00:25:39,119 Speaker 1: them keep track of their investments. 440 00:25:40,280 --> 00:25:43,560 Speaker 3: The important thing to the platform to me, it gives 441 00:25:43,600 --> 00:25:47,760 Speaker 3: customers access to their account twenty four hours a day. 442 00:25:48,640 --> 00:25:52,240 Speaker 3: Not everyone operates on the same timeframes, right, Not everyone 443 00:25:52,280 --> 00:25:54,720 Speaker 3: invests in the same ways. But one of the great 444 00:25:54,720 --> 00:25:57,280 Speaker 3: things about our platform is you can log in anytime. 445 00:25:57,840 --> 00:26:00,960 Speaker 3: You can see your account, you can see what you purchased, 446 00:26:01,440 --> 00:26:04,400 Speaker 3: you can see where's valued. Now you have the ability 447 00:26:04,440 --> 00:26:06,960 Speaker 3: to track it, which is something you don't get with 448 00:26:07,080 --> 00:26:09,320 Speaker 3: many goal companies. In fact, there's very few of them 449 00:26:09,359 --> 00:26:12,000 Speaker 3: out there that will give you an honest answer to 450 00:26:12,040 --> 00:26:15,280 Speaker 3: what your metals are worth. So we wanted to take 451 00:26:15,320 --> 00:26:18,160 Speaker 3: that and say, let's remove that negativity from this market. 452 00:26:18,600 --> 00:26:20,040 Speaker 3: You want to see how much your metals are worth? 453 00:26:20,080 --> 00:26:20,399 Speaker 2: Log in. 454 00:26:20,480 --> 00:26:23,240 Speaker 3: It tells you right there, this is what I purchased. 455 00:26:23,440 --> 00:26:26,600 Speaker 3: Here's what I purchased for. Here where's valued at today? 456 00:26:27,080 --> 00:26:30,640 Speaker 3: To remove that from the equation. Transparency is so hard 457 00:26:30,680 --> 00:26:32,959 Speaker 3: to find these days, but this is really what it 458 00:26:33,040 --> 00:26:35,800 Speaker 3: was about. So when you log in, not only can 459 00:26:35,840 --> 00:26:38,760 Speaker 3: you purchase metals and see your values, you can look 460 00:26:38,800 --> 00:26:40,840 Speaker 3: and see what other things you may be interested in. 461 00:26:41,320 --> 00:26:44,240 Speaker 3: You can take a peek behind the curtain. I like 462 00:26:44,320 --> 00:26:46,320 Speaker 3: to say, as to what it's like to be in 463 00:26:46,359 --> 00:26:49,159 Speaker 3: this business, because this is what we do and you 464 00:26:49,200 --> 00:26:50,520 Speaker 3: can do it on your time frame. 465 00:26:50,920 --> 00:26:51,240 Speaker 2: Now. 466 00:26:51,440 --> 00:26:53,600 Speaker 3: Granted, you may go to the platform and say this 467 00:26:53,640 --> 00:26:55,879 Speaker 3: is not for me. I don't get this stuff. I'm 468 00:26:55,920 --> 00:26:58,520 Speaker 3: not an electronic type person. You get the same service 469 00:26:58,560 --> 00:27:00,879 Speaker 3: when you call us, and we'll show you how to 470 00:27:00,920 --> 00:27:03,360 Speaker 3: go through the platform too, so that when you are 471 00:27:03,400 --> 00:27:05,640 Speaker 3: looking at it later you'll understand what you're looking at. 472 00:27:06,080 --> 00:27:09,639 Speaker 3: But that kind of transparency is really important. That's what 473 00:27:09,720 --> 00:27:10,760 Speaker 3: makes this an investment. 474 00:27:11,320 --> 00:27:13,840 Speaker 1: People can test this out and see what you and 475 00:27:13,840 --> 00:27:17,360 Speaker 1: I are talking about. If they go to buy Legacy 476 00:27:17,440 --> 00:27:20,359 Speaker 1: goold dot com slash newt. I want to repeat that 477 00:27:20,480 --> 00:27:22,359 Speaker 1: only so people can get it. But if they go 478 00:27:22,400 --> 00:27:26,719 Speaker 1: to buy Legacy goold dot com slash newt, then with 479 00:27:26,800 --> 00:27:29,239 Speaker 1: no commitment in their part, no cost, they get to 480 00:27:29,320 --> 00:27:34,680 Speaker 1: explore exactly what you are offering in this new online platform, 481 00:27:34,880 --> 00:27:38,960 Speaker 1: which allows them a much better sense of their own investments. 482 00:27:39,359 --> 00:27:42,439 Speaker 1: The nature of investing in gold, silver and other precious metals, 483 00:27:42,960 --> 00:27:44,840 Speaker 1: and all of that is free. 484 00:27:45,440 --> 00:27:48,200 Speaker 2: Absolutely absolutely if you. 485 00:27:48,240 --> 00:27:51,480 Speaker 1: Do go to buy Legacy goold dot com slash newt 486 00:27:52,480 --> 00:27:55,560 Speaker 1: and you decide to interest you. As I understand it, 487 00:27:55,680 --> 00:28:00,000 Speaker 1: everybody can now purchase their precious metals directly online. 488 00:28:00,600 --> 00:28:03,119 Speaker 3: Yes, sir, absolutely, and that's very different from what the 489 00:28:03,200 --> 00:28:05,880 Speaker 3: rest of the experience is in this industry, and that's 490 00:28:05,920 --> 00:28:08,560 Speaker 3: really what we wanted to bring to it. That transparency 491 00:28:08,600 --> 00:28:09,880 Speaker 3: and that access for everyone. 492 00:28:10,280 --> 00:28:13,720 Speaker 1: People when they go online at buy Legacy goold dot 493 00:28:13,760 --> 00:28:17,840 Speaker 1: com slash nude, they can actually look at buying coins 494 00:28:18,040 --> 00:28:22,960 Speaker 1: or bars, or simply rolling their existing retirement account into 495 00:28:23,000 --> 00:28:28,119 Speaker 1: a precious metals IRA with minimum inconvenience and minimum effort 496 00:28:28,119 --> 00:28:28,680 Speaker 1: on their part. 497 00:28:29,640 --> 00:28:32,280 Speaker 3: That's really what was important to us, is the decision 498 00:28:32,920 --> 00:28:35,960 Speaker 3: to protect yourself is important. We didn't want to create 499 00:28:36,000 --> 00:28:39,400 Speaker 3: a complicated process because if you make it too difficult, 500 00:28:39,520 --> 00:28:42,560 Speaker 3: people get frustrated and say I'll do it later, and 501 00:28:42,600 --> 00:28:44,480 Speaker 3: that's not what we want. We want people who are 502 00:28:44,560 --> 00:28:47,600 Speaker 3: of the mindset that they need that protection, they're ready 503 00:28:47,600 --> 00:28:48,160 Speaker 3: to get started. 504 00:28:48,200 --> 00:28:49,200 Speaker 2: We need them to be able to. 505 00:28:49,160 --> 00:28:52,200 Speaker 3: Do it without being inconvenience. So that's why we have 506 00:28:52,320 --> 00:28:53,280 Speaker 3: the whole team set up. 507 00:28:53,240 --> 00:28:55,360 Speaker 2: Here that we do. This is what legacy is about. 508 00:28:55,680 --> 00:28:57,920 Speaker 3: We're here to help you through the entire process as 509 00:28:58,040 --> 00:29:01,360 Speaker 3: much as needed or as little as needed. You determine 510 00:29:01,400 --> 00:29:03,640 Speaker 3: what level of interaction with us that you want to have. 511 00:29:04,280 --> 00:29:07,200 Speaker 3: So we've found that place to be where we can 512 00:29:07,240 --> 00:29:10,160 Speaker 3: service everyone and give them the attention that they need. 513 00:29:10,600 --> 00:29:13,920 Speaker 1: For people who want more personal contact or people who 514 00:29:14,000 --> 00:29:17,000 Speaker 1: just aren't coomfortable going on the web, they can go 515 00:29:17,080 --> 00:29:21,960 Speaker 1: to eight six six four eight four four oh four three. 516 00:29:22,000 --> 00:29:25,160 Speaker 1: I'm going to repeat this eight six y six four 517 00:29:25,280 --> 00:29:28,360 Speaker 1: eight four four to oh four to three, and somebody 518 00:29:28,360 --> 00:29:30,840 Speaker 1: then will be able to answer their questions and they're 519 00:29:30,880 --> 00:29:33,480 Speaker 1: dealing directly with the person and if they're the kind 520 00:29:33,480 --> 00:29:36,840 Speaker 1: of folks who are uncomfortable. All I must say, having 521 00:29:36,880 --> 00:29:39,280 Speaker 1: watched how many of my friends now buy things online, 522 00:29:39,480 --> 00:29:41,520 Speaker 1: I think the number of people who are uncomfortable is 523 00:29:41,560 --> 00:29:44,360 Speaker 1: shrinking every single day. But if you do want a 524 00:29:44,400 --> 00:29:47,360 Speaker 1: more personal experience, you can get it at eight sixty 525 00:29:47,400 --> 00:29:50,560 Speaker 1: six four eight four four to oh four to three. 526 00:29:51,040 --> 00:29:53,400 Speaker 1: Then there are a range of options, Charles that you 527 00:29:53,560 --> 00:29:56,160 Speaker 1: all at Legacy Gold or offering, can you just briefly 528 00:29:56,160 --> 00:29:59,160 Speaker 1: talk about because it's a fascinatingly complex business. 529 00:29:59,480 --> 00:30:03,080 Speaker 3: We range from everything from your simple bar to your 530 00:30:03,080 --> 00:30:07,440 Speaker 3: coins to some of your more elaborate coins. We have 531 00:30:07,600 --> 00:30:10,600 Speaker 3: access to every form and fashion of gold, silver and 532 00:30:10,880 --> 00:30:12,840 Speaker 3: platinum in the world. We deal with all of the 533 00:30:13,040 --> 00:30:19,120 Speaker 3: major manufacturers' mints, so we have access to everything, whether 534 00:30:19,160 --> 00:30:22,720 Speaker 3: it be the cheapest block of gold or silver that 535 00:30:22,760 --> 00:30:27,040 Speaker 3: you want to the most elaborate coin. And sometimes it 536 00:30:27,040 --> 00:30:29,000 Speaker 3: can be hard. You'll go online, you'll be looking through 537 00:30:29,040 --> 00:30:31,200 Speaker 3: and say what do I do? When you get there? 538 00:30:31,240 --> 00:30:32,960 Speaker 3: If you're not sure, that's when you give us a 539 00:30:33,000 --> 00:30:34,720 Speaker 3: call and we'll be able to walk you through. 540 00:30:35,200 --> 00:30:37,960 Speaker 2: What makes a Canadian maple leaf valued? Here? 541 00:30:38,040 --> 00:30:41,920 Speaker 3: What makes a gold eagle valued here. What's the difference. 542 00:30:42,440 --> 00:30:45,080 Speaker 3: How is that different from a bar? And there's a 543 00:30:45,120 --> 00:30:46,719 Speaker 3: lot of things to it. I mean, bars are a 544 00:30:46,720 --> 00:30:51,960 Speaker 3: fantastic investment, right, but they don't have the backing of 545 00:30:52,000 --> 00:30:56,080 Speaker 3: a major government's mint, the full faith of a government 546 00:30:56,120 --> 00:31:00,000 Speaker 3: that this particular item, this gold item, is this level 547 00:31:00,000 --> 00:31:03,760 Speaker 3: purity of gold. With that, they're a little cheaper. Not 548 00:31:03,840 --> 00:31:06,080 Speaker 3: saying that they're good or bad, it's just a different option. 549 00:31:06,240 --> 00:31:10,080 Speaker 3: Whereas the coins you have this guarantee. It's a currency 550 00:31:10,200 --> 00:31:14,400 Speaker 3: of sorts, easy to carry, easier to transact business with 551 00:31:14,520 --> 00:31:16,200 Speaker 3: if you're selling it later. If you don't sell it 552 00:31:16,240 --> 00:31:19,520 Speaker 3: back to us, people know what it is. So there's 553 00:31:19,680 --> 00:31:23,560 Speaker 3: levels of investment, whether it's gold, silver, or platinum. There 554 00:31:23,600 --> 00:31:26,040 Speaker 3: are different forms and fashions and what we always want 555 00:31:26,080 --> 00:31:27,840 Speaker 3: to do too. And one of the things we hear 556 00:31:27,880 --> 00:31:30,640 Speaker 3: a lot is this money isn't for me. This is 557 00:31:30,680 --> 00:31:33,800 Speaker 3: for my kids or my grandkids. So sometimes it's nice 558 00:31:33,800 --> 00:31:36,480 Speaker 3: for them to be able to say I've got some bars, 559 00:31:36,480 --> 00:31:38,360 Speaker 3: but I also have some coins because I'm going to 560 00:31:38,440 --> 00:31:40,840 Speaker 3: teach a lesson to my grandkids. I'm going to teach 561 00:31:40,920 --> 00:31:44,880 Speaker 3: them some monetary lessons. Here's the value of this particular coin. 562 00:31:44,920 --> 00:31:47,760 Speaker 3: It's something that's attractive to look at, something nice to 563 00:31:47,760 --> 00:31:50,640 Speaker 3: carry around, and now I can teach them about value. 564 00:31:51,280 --> 00:31:52,920 Speaker 3: So there are a lot of ways to do it, 565 00:31:52,960 --> 00:31:55,200 Speaker 3: and we have the options for all of them. So 566 00:31:55,240 --> 00:31:57,720 Speaker 3: if you find yourself in that dilemma you don't know 567 00:31:57,760 --> 00:31:59,760 Speaker 3: what to get, definitely give us a call. 568 00:32:00,240 --> 00:32:05,480 Speaker 1: I gather that there's really a pretty large audience for 569 00:32:05,640 --> 00:32:09,320 Speaker 1: coins that they've sort of really come back as something 570 00:32:09,360 --> 00:32:09,920 Speaker 1: people like. 571 00:32:10,560 --> 00:32:13,760 Speaker 3: I agree, and I think you look at that and 572 00:32:14,160 --> 00:32:18,080 Speaker 3: it's easy to understand because we have money, we have bills, 573 00:32:18,080 --> 00:32:21,000 Speaker 3: and we have coins. We're used to the concept of 574 00:32:21,000 --> 00:32:23,880 Speaker 3: a coin. We understand what it is. You hold it 575 00:32:23,880 --> 00:32:26,200 Speaker 3: in your hand and you understand it. A bar is 576 00:32:26,200 --> 00:32:29,200 Speaker 3: a little different. It doesn't feel like a monetary value. 577 00:32:29,920 --> 00:32:33,040 Speaker 3: We're coins because they're stamped and made by ments. It 578 00:32:33,160 --> 00:32:35,720 Speaker 3: really strikes home that fact that this is money. 579 00:32:35,840 --> 00:32:38,560 Speaker 1: The fact that people can set up their account in 580 00:32:38,640 --> 00:32:41,000 Speaker 1: a matter of minutes. They can go to buy Legacygold, 581 00:32:41,040 --> 00:32:44,920 Speaker 1: dot Com, slash newt or as we mentioned earlier, they 582 00:32:44,920 --> 00:32:47,760 Speaker 1: can go to eight six six four eight four four 583 00:32:47,880 --> 00:32:50,240 Speaker 1: h four three and they can have a real chance 584 00:32:50,280 --> 00:32:52,360 Speaker 1: to look at it. They don't have to buy anything, 585 00:32:52,360 --> 00:32:55,240 Speaker 1: but they could get an education, and this is one 586 00:32:55,280 --> 00:32:58,920 Speaker 1: of the finance options for their future. I really want 587 00:32:58,920 --> 00:33:01,160 Speaker 1: to thank you Charles for joining me. I mean, I 588 00:33:01,240 --> 00:33:05,719 Speaker 1: find these conversations as the market changes, as inflation changes, 589 00:33:05,760 --> 00:33:09,200 Speaker 1: as the Federal Reserve changes, and as the Congress is changing. 590 00:33:09,520 --> 00:33:13,040 Speaker 1: It's really helpful to have your years of experience, your 591 00:33:13,080 --> 00:33:16,760 Speaker 1: depth of knowledge put in context what's going on. And 592 00:33:16,800 --> 00:33:20,440 Speaker 1: I think that people will be fascinated to know that 593 00:33:20,760 --> 00:33:23,719 Speaker 1: all the stuff they can learn from you online and 594 00:33:23,760 --> 00:33:26,560 Speaker 1: from your team at Legacy Precious Medals. 595 00:33:26,880 --> 00:33:29,600 Speaker 3: Thank you, NID. It's a glowing endorsement. I appreciate that, 596 00:33:29,640 --> 00:33:32,320 Speaker 3: and this is what we do. It's our pleasure and 597 00:33:32,440 --> 00:33:34,600 Speaker 3: it's really what this business was established to do. 598 00:33:34,680 --> 00:33:35,800 Speaker 2: And we thank you for the time. 599 00:33:37,760 --> 00:33:40,240 Speaker 1: Thank you to my guest, Charles Thorngren. You can learn 600 00:33:40,280 --> 00:33:45,200 Speaker 1: more about Legacy Precious Metals new online investment platform at 601 00:33:45,200 --> 00:33:49,680 Speaker 1: buy legacygold dot com. Slash newt Newtworld is produced by 602 00:33:49,680 --> 00:33:54,440 Speaker 1: Gager three sixty and iHeartMedia. Our executive producer is Guernsey 603 00:33:54,520 --> 00:33:58,760 Speaker 1: Sloan and our researcher is Rachel Peterson. The artwork for 604 00:33:58,840 --> 00:34:03,120 Speaker 1: the show by Steve Penley. Special thanks to the team 605 00:34:03,160 --> 00:34:06,400 Speaker 1: at Gingrish three sixty. If you've been enjoying Newtsworld, I 606 00:34:06,480 --> 00:34:09,319 Speaker 1: hope you'll go to Apple Podcast and both rate us 607 00:34:09,320 --> 00:34:12,520 Speaker 1: with five stars and give us a review so others 608 00:34:12,560 --> 00:34:15,640 Speaker 1: can learn what it's all about. Right now, listeners of 609 00:34:15,719 --> 00:34:19,200 Speaker 1: newts World can sent up for my three freeweekly columns 610 00:34:19,440 --> 00:34:23,880 Speaker 1: at gingrishtree sixty dot com slash newsletter. I'm Newt Gingrich. 611 00:34:24,320 --> 00:34:27,440 Speaker 1: This is neut World. This episode of newts World was 612 00:34:27,480 --> 00:34:29,840 Speaker 1: brought to you by Legacy Precious Metals.