1 00:00:00,200 --> 00:00:02,400 Speaker 1: Hello, and welcome back to another episode of the Mark 2 00:00:02,440 --> 00:00:06,280 Speaker 1: Mass Show, where we're always talking about decentralization. We're talking 3 00:00:06,320 --> 00:00:09,040 Speaker 1: about the world changing right before our eyes as we 4 00:00:09,119 --> 00:00:12,360 Speaker 1: look at it through the lens of politics, finance, and technology. 5 00:00:12,640 --> 00:00:14,200 Speaker 1: You know, I try to bring to you some late 6 00:00:14,200 --> 00:00:16,079 Speaker 1: breaking news headlines so you can stay up on what's 7 00:00:16,120 --> 00:00:18,400 Speaker 1: going on. Obviously, some education so you can look and 8 00:00:18,440 --> 00:00:21,239 Speaker 1: see the world differently, and of course some interesting guests 9 00:00:21,280 --> 00:00:23,639 Speaker 1: so you can get some different perspectives than just me. 10 00:00:23,840 --> 00:00:26,800 Speaker 1: And today I am joined by doctor Mike Fulgens. He's 11 00:00:26,800 --> 00:00:30,159 Speaker 1: a returning guest back to the show. He is the 12 00:00:30,280 --> 00:00:34,320 Speaker 1: founder CEO of Universal Coin and Buoyant and he is 13 00:00:34,400 --> 00:00:37,240 Speaker 1: just a wealth of knowledge when it comes to metals 14 00:00:37,280 --> 00:00:39,239 Speaker 1: and monetary history and so much more. And man, I 15 00:00:39,280 --> 00:00:42,080 Speaker 1: have so much I want to dig into today. Mike, 16 00:00:42,120 --> 00:00:43,080 Speaker 1: thanks so much for joining. 17 00:00:43,880 --> 00:00:46,680 Speaker 2: Oh pleasure to be here, and thanks for having me Marek. 18 00:00:46,840 --> 00:00:47,440 Speaker 3: Yeah great. 19 00:00:47,840 --> 00:00:50,560 Speaker 1: You know, I know that you've written a lot of 20 00:00:51,800 --> 00:00:55,360 Speaker 1: work on gold and counterfeiting, and you've worked with the 21 00:00:55,400 --> 00:00:58,360 Speaker 1: Texas Attorney General and so much things like that. I 22 00:00:58,400 --> 00:01:00,880 Speaker 1: want to go back just a little bit to help 23 00:01:00,960 --> 00:01:02,960 Speaker 1: kind of frame things up. You know, we're going into 24 00:01:03,480 --> 00:01:05,880 Speaker 1: potentially some very dangerous financial times. 25 00:01:05,959 --> 00:01:06,440 Speaker 3: Right now. 26 00:01:06,680 --> 00:01:10,399 Speaker 1: The government is way way indebted. As a matter of fact, 27 00:01:10,400 --> 00:01:13,960 Speaker 1: they've added It took them till I think nineteen eighty 28 00:01:14,000 --> 00:01:16,080 Speaker 1: to add one trillion dollars in debt, and now they've 29 00:01:16,080 --> 00:01:19,240 Speaker 1: added three trillion in debt in just the last three months. 30 00:01:19,720 --> 00:01:22,679 Speaker 1: And the thing that I'm worried about is that, you know, 31 00:01:22,800 --> 00:01:26,160 Speaker 1: we've seen this before. You know, and early on in 32 00:01:26,200 --> 00:01:29,360 Speaker 1: the in the countries start well after the FED started 33 00:01:29,400 --> 00:01:32,440 Speaker 1: in the early nineteen hundreds, they also got into too 34 00:01:32,520 --> 00:01:35,800 Speaker 1: much debt. And in nineteen thirty three they decided to 35 00:01:35,959 --> 00:01:41,080 Speaker 1: confiscate gold. And you know, as a gold expert, I wonder, 36 00:01:41,240 --> 00:01:44,360 Speaker 1: you know, how you've studied that piece of history and 37 00:01:44,640 --> 00:01:46,959 Speaker 1: if you think you know, maybe walk us through what 38 00:01:47,120 --> 00:01:49,160 Speaker 1: happened and why you think that event happened, and if 39 00:01:49,200 --> 00:01:51,360 Speaker 1: you think maybe another event like that could happen again 40 00:01:51,560 --> 00:01:52,920 Speaker 1: if the government gets too in debt. 41 00:01:54,200 --> 00:01:57,360 Speaker 2: Well, back in thirty two thirty three, we were in 42 00:01:57,360 --> 00:02:01,320 Speaker 2: a financial crisis, and it was when I've worked with 43 00:02:01,320 --> 00:02:05,040 Speaker 2: the Federal Trade Commission and other ags. They don't like 44 00:02:05,120 --> 00:02:07,720 Speaker 2: to use the word confiscate, even though a lot of 45 00:02:07,720 --> 00:02:10,920 Speaker 2: people do use that. It was a recall, and the 46 00:02:10,960 --> 00:02:14,520 Speaker 2: difference they make is you were paid twenty dollars an 47 00:02:14,520 --> 00:02:19,079 Speaker 2: ounce and change for your goal perounce. Well a year 48 00:02:19,160 --> 00:02:21,320 Speaker 2: later they raised the official price to thirty five, a 49 00:02:21,400 --> 00:02:26,120 Speaker 2: nice profit for the government. But the recall did have 50 00:02:26,160 --> 00:02:30,080 Speaker 2: some exceptions for some collectible coins. They weren't going to 51 00:02:30,080 --> 00:02:33,320 Speaker 2: take away your wife's wedding ring or some jewelry or sculpture. 52 00:02:33,840 --> 00:02:38,519 Speaker 2: But most things that were common, as far as current 53 00:02:38,600 --> 00:02:43,200 Speaker 2: circulating gold coins and bars and things like that, you 54 00:02:43,240 --> 00:02:46,320 Speaker 2: had to turn in under penalty of jail time and fine. 55 00:02:46,840 --> 00:02:49,680 Speaker 2: And a lot of gold was turned in helped make 56 00:02:49,680 --> 00:02:52,040 Speaker 2: a lot of the bars that were and are in 57 00:02:52,120 --> 00:02:55,040 Speaker 2: Fort Knox. And I've had people who've visited Fort Knox 58 00:02:55,080 --> 00:02:55,960 Speaker 2: over the years. 59 00:02:57,000 --> 00:02:58,600 Speaker 1: I never heard that before. I never heard that it 60 00:02:58,639 --> 00:03:01,280 Speaker 1: was called a recall. Of course, you know, they always 61 00:03:01,280 --> 00:03:03,240 Speaker 1: call it the opposite of what it is, sort of 62 00:03:03,240 --> 00:03:05,920 Speaker 1: like the Inflation and Reduction Act. Let's spend another couple 63 00:03:05,880 --> 00:03:07,639 Speaker 1: of trillion to get the inflation to come back down, 64 00:03:08,240 --> 00:03:11,000 Speaker 1: but a recall because you know, up until that point, 65 00:03:11,240 --> 00:03:13,320 Speaker 1: I mean, gold had had been money. I mean JP 66 00:03:13,440 --> 00:03:16,120 Speaker 1: Morgan said gold is money, right, everything else is credit, 67 00:03:16,160 --> 00:03:19,160 Speaker 1: and so it was money. We put the gold in 68 00:03:19,320 --> 00:03:21,880 Speaker 1: the bank, and then the bank gave us a claim 69 00:03:22,000 --> 00:03:24,560 Speaker 1: to go claim that gold whenever we wanted. And then 70 00:03:24,560 --> 00:03:26,560 Speaker 1: they said, now you can't claim it anymore. How would 71 00:03:26,600 --> 00:03:28,799 Speaker 1: they have considered that a recall? Does that make any 72 00:03:28,800 --> 00:03:29,079 Speaker 1: sense to you? 73 00:03:29,240 --> 00:03:31,200 Speaker 2: Well, because they didn't just take the gold. You just 74 00:03:31,200 --> 00:03:33,400 Speaker 2: didn't have to give them the gold. They paid you 75 00:03:33,480 --> 00:03:36,960 Speaker 2: for it, even though it was you didn't you didn't 76 00:03:37,200 --> 00:03:39,120 Speaker 2: like that they said you had to turn it in. 77 00:03:40,120 --> 00:03:42,880 Speaker 2: They did pay you for it. Like if they there's 78 00:03:42,880 --> 00:03:46,440 Speaker 2: a highway going through your property and they take your 79 00:03:46,480 --> 00:03:49,000 Speaker 2: property from you, but they do pay you quote fair 80 00:03:49,080 --> 00:03:51,360 Speaker 2: market value for it. You did get a value. 81 00:03:51,240 --> 00:03:53,120 Speaker 3: For the gold. Yeah, Well, that's a difference. 82 00:03:53,160 --> 00:03:56,160 Speaker 2: If they confiscate something from you, you get nothing for it. 83 00:03:56,480 --> 00:03:59,440 Speaker 2: If raid something at your house and say there was 84 00:03:59,480 --> 00:04:02,160 Speaker 2: a crime and they keep it, they've confiscated it, right, 85 00:04:02,720 --> 00:04:05,480 Speaker 2: And it's really a distinction that has been used in 86 00:04:05,560 --> 00:04:11,880 Speaker 2: Attorney general's filings of criminal charges against other coin companies 87 00:04:11,880 --> 00:04:15,800 Speaker 2: and other bullion sales that utilization of the word confiscation 88 00:04:15,880 --> 00:04:19,039 Speaker 2: to scare people to buy your product. They have used 89 00:04:19,040 --> 00:04:22,760 Speaker 2: in filings to get fines from coin and metals companies. 90 00:04:23,040 --> 00:04:25,880 Speaker 1: Oh really, so they're saying that coin and metals companies 91 00:04:25,920 --> 00:04:30,000 Speaker 1: are like are are kind of falsely misleading customers by 92 00:04:30,080 --> 00:04:30,960 Speaker 1: using those types of words. 93 00:04:30,960 --> 00:04:31,640 Speaker 3: Guess nicely. 94 00:04:31,640 --> 00:04:34,760 Speaker 2: They draw the distinction between when I was working on 95 00:04:34,839 --> 00:04:39,600 Speaker 2: the FTC's brochure with Barry Kutler, who's head of the 96 00:04:39,600 --> 00:04:44,640 Speaker 2: Federal Trade Commission's Consumer Protection Division. They made the distinction 97 00:04:45,120 --> 00:04:47,520 Speaker 2: and they weren't even going to call it a recall 98 00:04:48,160 --> 00:04:51,240 Speaker 2: that they had done that. But we our industry, said no, 99 00:04:51,640 --> 00:04:54,320 Speaker 2: here's what it was. Here's what you did. You people 100 00:04:54,360 --> 00:04:56,760 Speaker 2: had no choice. They had to turn in all those 101 00:04:56,800 --> 00:05:00,520 Speaker 2: gold products except for a few exceptions, and you paid 102 00:05:00,560 --> 00:05:03,479 Speaker 2: them twenty dollars and such, and then a year later 103 00:05:03,520 --> 00:05:05,640 Speaker 2: you raised the price to thirty five. Well, they didn't 104 00:05:05,640 --> 00:05:07,880 Speaker 2: put in raised it to thirty five, but they acknowledged 105 00:05:08,320 --> 00:05:11,440 Speaker 2: that what they were saying was also inaccurate. So we 106 00:05:11,520 --> 00:05:13,640 Speaker 2: got them to put it in the FDC broch consumer 107 00:05:13,680 --> 00:05:14,520 Speaker 2: Protection brochure. 108 00:05:15,400 --> 00:05:18,800 Speaker 1: Okay, so they didn't really confiscate it, They just forcibly 109 00:05:19,000 --> 00:05:23,600 Speaker 1: bought it from you, sort of like at their price, 110 00:05:23,800 --> 00:05:24,440 Speaker 1: at their price. 111 00:05:24,520 --> 00:05:26,040 Speaker 3: Yeah, and that's the big thing. I mean. 112 00:05:26,080 --> 00:05:29,480 Speaker 1: Then they bought it for twenty and instantly revalued at 113 00:05:29,520 --> 00:05:31,640 Speaker 1: thirty five or devalued it. However, you want to look 114 00:05:31,640 --> 00:05:33,920 Speaker 1: at what happened to your money, That. 115 00:05:34,000 --> 00:05:37,520 Speaker 2: Was the value of collectible gold of some type with 116 00:05:37,560 --> 00:05:40,279 Speaker 2: a little premium, And not that they wouldn't change the 117 00:05:40,320 --> 00:05:42,800 Speaker 2: law in the future, but if you had a collector 118 00:05:42,880 --> 00:05:46,800 Speaker 2: coin with some collectible value, not just the common ones, 119 00:05:46,839 --> 00:05:49,760 Speaker 2: but a little better date, a little better quality, you 120 00:05:49,800 --> 00:05:51,800 Speaker 2: had grounds to keep them. And a lot of people 121 00:05:52,279 --> 00:05:54,680 Speaker 2: bought and had and made good money in the future 122 00:05:54,960 --> 00:05:59,279 Speaker 2: off collectible coins with a small collector numismatic premium. 123 00:05:59,520 --> 00:06:01,560 Speaker 1: You know that I haven't looked into and I don't 124 00:06:01,560 --> 00:06:02,960 Speaker 1: know if you have it all, but you know to 125 00:06:03,040 --> 00:06:05,480 Speaker 1: your point that people were allowed to keep jewelry, and 126 00:06:05,520 --> 00:06:07,599 Speaker 1: people were allowed to keep these collector coins, and so 127 00:06:08,720 --> 00:06:10,680 Speaker 1: at that time it's hard to go back and put 128 00:06:10,720 --> 00:06:14,080 Speaker 1: myself there. But gold had always been money, Like I said, 129 00:06:14,120 --> 00:06:17,080 Speaker 1: JP Morgan declared that gold is money. And so at 130 00:06:17,080 --> 00:06:21,640 Speaker 1: that time when people were forcibly, you know, or forced 131 00:06:21,680 --> 00:06:24,520 Speaker 1: to sell their gold back to the government, they couldn't 132 00:06:24,600 --> 00:06:25,320 Speaker 1: keep it anymore. 133 00:06:26,080 --> 00:06:27,640 Speaker 3: Do you think, or do you know if. 134 00:06:27,480 --> 00:06:29,360 Speaker 1: There was like a big rush to people go, well 135 00:06:29,360 --> 00:06:31,400 Speaker 1: we have the money, I can't have the bullion. So 136 00:06:31,440 --> 00:06:33,320 Speaker 1: I guess I'll just go buy a bunch of jewelry 137 00:06:33,320 --> 00:06:35,600 Speaker 1: and collectible coins. Was there a shift like that? 138 00:06:36,240 --> 00:06:39,440 Speaker 2: There was a shipments, lots of shipments by the wealthy 139 00:06:39,480 --> 00:06:43,279 Speaker 2: of gold to other countries to hold gold coins and 140 00:06:43,360 --> 00:06:47,400 Speaker 2: gold bars, to Europe, to South America to preserve their 141 00:06:47,440 --> 00:06:50,440 Speaker 2: wealth by moving it to other countries. Of course, today 142 00:06:50,520 --> 00:06:54,680 Speaker 2: we have Menendez who put the gold bars underneath his mattress, 143 00:06:54,720 --> 00:06:59,960 Speaker 2: and Matt Getz, Republican represented it from Florida, had any 144 00:07:00,160 --> 00:07:03,040 Speaker 2: statement about how bribes the currency is being devalued by 145 00:07:03,080 --> 00:07:05,800 Speaker 2: all the debt, that you got to bribe your congressman 146 00:07:05,880 --> 00:07:07,800 Speaker 2: with gold bars instead of cash. 147 00:07:07,880 --> 00:07:10,720 Speaker 1: Yeah, but I'm curious if maybe there was like a 148 00:07:10,760 --> 00:07:14,720 Speaker 1: big rush into gold jewelry and collectible coins for example, 149 00:07:14,720 --> 00:07:15,280 Speaker 1: back I. 150 00:07:15,320 --> 00:07:17,040 Speaker 2: Don't know that, but I know there was a rush 151 00:07:17,120 --> 00:07:21,880 Speaker 2: to ship it to Switzerland, to South America to store 152 00:07:22,280 --> 00:07:23,560 Speaker 2: gold offshore. 153 00:07:23,960 --> 00:07:25,360 Speaker 3: Yeah, yeah, makes sense. 154 00:07:25,880 --> 00:07:28,720 Speaker 2: You know, since since twenty three hundred years ago, Aristotle 155 00:07:29,280 --> 00:07:34,640 Speaker 2: described gold as money, since before Christ, it's been money 156 00:07:35,160 --> 00:07:40,800 Speaker 2: since you know, for thousands of years. And even George Washington, 157 00:07:41,360 --> 00:07:43,960 Speaker 2: back when we had the first paper money that got 158 00:07:43,960 --> 00:07:48,400 Speaker 2: extremely devalued. The Continental was complaining that a bushel a 159 00:07:48,440 --> 00:07:52,400 Speaker 2: wheelbar full of continentals wouldn't buy a wheelbar full of 160 00:07:52,440 --> 00:07:55,880 Speaker 2: provisions and wanted the country to go on a gold 161 00:07:56,120 --> 00:07:58,560 Speaker 2: and silver standard. So we've seen it happen even in 162 00:07:58,600 --> 00:08:01,960 Speaker 2: this country and definitely in Europe after World War one 163 00:08:02,000 --> 00:08:02,320 Speaker 2: and two. 164 00:08:02,680 --> 00:08:03,040 Speaker 3: Yeah. 165 00:08:03,240 --> 00:08:06,600 Speaker 1: Yeah, that's a very interesting story about the continentals. And 166 00:08:06,640 --> 00:08:09,560 Speaker 1: it seems like every single time a government, and not 167 00:08:09,600 --> 00:08:11,840 Speaker 1: just the US government to your point, even in England, 168 00:08:11,840 --> 00:08:14,680 Speaker 1: that's what got them into trouble. Anytime the government was 169 00:08:14,720 --> 00:08:16,440 Speaker 1: to get off the gold standard and go in toowards 170 00:08:16,520 --> 00:08:18,520 Speaker 1: like a paper type of currency, they just seem to 171 00:08:18,680 --> 00:08:21,040 Speaker 1: overprint the amount of currency. 172 00:08:21,040 --> 00:08:23,520 Speaker 3: They can't help themselves, right, Yeah. 173 00:08:23,560 --> 00:08:25,280 Speaker 2: And you know, the states have a lot of the 174 00:08:25,280 --> 00:08:28,720 Speaker 2: states have restrictions on they have to balance budgets. Unfortunately, 175 00:08:28,800 --> 00:08:31,720 Speaker 2: the federal government doesn't do that the same way. 176 00:08:31,960 --> 00:08:33,160 Speaker 3: Right Yeah. 177 00:08:33,200 --> 00:08:35,280 Speaker 1: And I mean, shoot, if you can print yourself money, 178 00:08:35,320 --> 00:08:37,840 Speaker 1: why wouldn't you, Right, But it's that that's what got 179 00:08:38,280 --> 00:08:40,160 Speaker 1: the UK into trouble. That's what got you know, England 180 00:08:40,200 --> 00:08:42,400 Speaker 1: into trouble into World War one, and they lost all 181 00:08:42,440 --> 00:08:45,400 Speaker 1: their gold trying to defend that. And unfortunately, I was 182 00:08:45,400 --> 00:08:46,640 Speaker 1: starting to see the same thing I want to get 183 00:08:46,679 --> 00:08:49,800 Speaker 1: into that. But before we do so, there's obviously buying 184 00:08:49,840 --> 00:08:52,800 Speaker 1: the physical gold. The problem was, I guess at the time, 185 00:08:53,000 --> 00:08:55,640 Speaker 1: one it's like kind of hard to own it. So 186 00:08:55,679 --> 00:08:57,920 Speaker 1: maybe a lot of people use the banks as sort 187 00:08:57,920 --> 00:08:59,880 Speaker 1: of like a custody, right, so they would kind of 188 00:09:00,080 --> 00:09:03,160 Speaker 1: keep it secure for them, and that was a big problem. Today, 189 00:09:03,200 --> 00:09:05,240 Speaker 1: there's other ways that we people buy gold so that 190 00:09:05,720 --> 00:09:07,600 Speaker 1: you can own it yourself and put it in a safe. 191 00:09:08,160 --> 00:09:12,080 Speaker 1: You can find gold vaults, you could potentially get different 192 00:09:12,080 --> 00:09:15,439 Speaker 1: types of ETFs, things like that. I'm curious to your 193 00:09:15,480 --> 00:09:18,920 Speaker 1: take on the different ways that you can own gold 194 00:09:19,000 --> 00:09:21,240 Speaker 1: and some of the risks of potentially like keeping it 195 00:09:21,240 --> 00:09:22,839 Speaker 1: in a vault or keeping it in an ETF or 196 00:09:22,880 --> 00:09:25,160 Speaker 1: something like that. Now, if you're just tune in, you're 197 00:09:25,160 --> 00:09:26,720 Speaker 1: listening to the Mark Mass Show. I got to take 198 00:09:26,760 --> 00:09:28,960 Speaker 1: a very quick break, but I'll be right back after 199 00:09:29,000 --> 00:09:31,080 Speaker 1: this with more with doctor Mike in a minute. 200 00:09:31,200 --> 00:09:33,120 Speaker 3: You don't want to miss it. Don't go away, We're back, 201 00:09:33,520 --> 00:09:34,280 Speaker 3: all right, Welcome back. 202 00:09:34,280 --> 00:09:35,800 Speaker 1: If you just tune in, you're listening to the Mark 203 00:09:35,840 --> 00:09:38,320 Speaker 1: Mass Show. I'm sitting down with doctor Mike, Fulgens from 204 00:09:38,440 --> 00:09:40,520 Speaker 1: Universal Coin and boy On and we're talking through some 205 00:09:40,559 --> 00:09:43,480 Speaker 1: of the history of gold. We talked about through the 206 00:09:44,200 --> 00:09:46,640 Speaker 1: I thought it was a confiscation, he said it was. Actually, 207 00:09:48,240 --> 00:09:51,320 Speaker 1: what'd you call it, Mike, recall A recall A recall 208 00:09:51,440 --> 00:09:53,080 Speaker 1: some mantics there. You have to go back and listen 209 00:09:53,080 --> 00:09:55,000 Speaker 1: to that if you missed it. But you know, before 210 00:09:55,080 --> 00:09:57,079 Speaker 1: we had to take that break, I was asking you 211 00:09:57,280 --> 00:10:00,480 Speaker 1: about different ways to own gold. You know, whether that 212 00:10:00,520 --> 00:10:03,040 Speaker 1: goes into a safety deposit box, there's like vault companies, 213 00:10:03,040 --> 00:10:05,320 Speaker 1: maybe I keep it at my house, or maybe I 214 00:10:05,440 --> 00:10:07,960 Speaker 1: leverage it through an ETF or something like that. What 215 00:10:08,000 --> 00:10:09,560 Speaker 1: do you think about the different ways I can own 216 00:10:09,640 --> 00:10:10,880 Speaker 1: it and what's some of the risks. 217 00:10:10,600 --> 00:10:11,560 Speaker 3: That are involved with that. 218 00:10:12,559 --> 00:10:15,000 Speaker 2: Well, you can take delivery and it's very easy to 219 00:10:15,000 --> 00:10:18,319 Speaker 2: buy gold and have it shipped securely to you in 220 00:10:18,400 --> 00:10:23,280 Speaker 2: an office, a po box, or your house. One of 221 00:10:23,320 --> 00:10:25,400 Speaker 2: the risks of keeping too much at house, even in 222 00:10:25,440 --> 00:10:28,920 Speaker 2: a fireproof safe, is if people know about it, they 223 00:10:28,920 --> 00:10:32,920 Speaker 2: can rob you. I've worked with law enforcement in the area. 224 00:10:32,960 --> 00:10:35,880 Speaker 2: I'm on the board of Crime Stoppers of Southeast Texas, 225 00:10:36,360 --> 00:10:38,800 Speaker 2: and you know, if you have a safe and keep 226 00:10:38,840 --> 00:10:41,440 Speaker 2: values your home, don't put it in the master bedroom 227 00:10:42,000 --> 00:10:44,439 Speaker 2: or bathroom. That's where thieves go first. You want to 228 00:10:44,440 --> 00:10:47,440 Speaker 2: put it in another room, preferably where it's not obvious. 229 00:10:47,640 --> 00:10:48,480 Speaker 3: Not in the sock door. 230 00:10:49,440 --> 00:10:53,000 Speaker 2: No, not in the sock door, in the mattress like Menendez, 231 00:10:53,080 --> 00:10:58,200 Speaker 2: but allegedly. But what you want to do is have 232 00:10:58,400 --> 00:11:01,560 Speaker 2: some at home somewhere in a se secured place in 233 00:11:01,640 --> 00:11:03,640 Speaker 2: case of like when we had hurricanes here and we 234 00:11:03,679 --> 00:11:06,720 Speaker 2: had to evacuate for three weeks after reader or ike, 235 00:11:07,120 --> 00:11:10,800 Speaker 2: it provided easy liquidity when I couldn't get money out 236 00:11:10,800 --> 00:11:12,880 Speaker 2: of Chase Bank for a week and then only five 237 00:11:13,000 --> 00:11:17,240 Speaker 2: hundred dollars a day for weeks, and so it provided 238 00:11:18,080 --> 00:11:20,160 Speaker 2: a way to get cash by selling off some of 239 00:11:20,160 --> 00:11:23,440 Speaker 2: the gold to coin dealers that I knew outside of 240 00:11:23,480 --> 00:11:29,400 Speaker 2: Southeast Texas. I would say that I would keep the 241 00:11:29,480 --> 00:11:33,320 Speaker 2: majority in a private security center box safety deposit box, 242 00:11:33,720 --> 00:11:37,199 Speaker 2: or a bank safety deposit box. I've never had clients 243 00:11:37,280 --> 00:11:40,480 Speaker 2: lose it from those places, although there was an instance 244 00:11:40,520 --> 00:11:44,199 Speaker 2: in California where a bad guy had a depository center 245 00:11:44,320 --> 00:11:47,080 Speaker 2: and they took all the boxes and people are having 246 00:11:47,120 --> 00:11:49,000 Speaker 2: to go after the FBI to try to get their 247 00:11:49,080 --> 00:11:52,640 Speaker 2: valuables back, and the FBI supposedly doesn't have all the 248 00:11:52,640 --> 00:11:56,560 Speaker 2: listing so that is a case that has happened in 249 00:11:56,600 --> 00:11:58,720 Speaker 2: the last couple of years. It got a lot of notoriety. 250 00:11:59,080 --> 00:12:02,360 Speaker 2: But for my alliance and for me over forty plus 251 00:12:02,480 --> 00:12:04,840 Speaker 2: years of doing this, I would say have it in 252 00:12:05,240 --> 00:12:09,040 Speaker 2: the majority in a safety deposit box. Your broker can 253 00:12:09,080 --> 00:12:11,280 Speaker 2: work with you on ETFs. It's a very good way 254 00:12:11,360 --> 00:12:16,360 Speaker 2: to own gold. Gold is kept as behind the ETFs is. 255 00:12:16,400 --> 00:12:20,840 Speaker 2: If the ETF has an ounce of gold on paper, 256 00:12:20,880 --> 00:12:22,760 Speaker 2: they have to have an ounce in storage of gold. 257 00:12:23,200 --> 00:12:28,840 Speaker 2: And this year ETF purchases and outflows have been greater 258 00:12:29,040 --> 00:12:32,960 Speaker 2: than inflows. Now. Central bank buying is up and it 259 00:12:33,080 --> 00:12:38,000 Speaker 2: hit fifty five year highs last year, led by China, Turkey, 260 00:12:38,200 --> 00:12:43,400 Speaker 2: Poland and Russia. And so people oftentimes they wonder about 261 00:12:43,400 --> 00:12:45,959 Speaker 2: gold and the demand they think in this country or 262 00:12:46,040 --> 00:12:53,640 Speaker 2: North America, but globally right now, India, China, Russia and 263 00:12:53,720 --> 00:12:56,960 Speaker 2: other countries, the central banks are greatly increasing to back 264 00:12:57,040 --> 00:12:59,800 Speaker 2: up their currencies gold and they've been doing that since 265 00:12:59,840 --> 00:13:05,280 Speaker 2: too twenty ten, So that's a demand factor. Physical purchases 266 00:13:05,320 --> 00:13:08,000 Speaker 2: are up from the US mint from other mints of gold. 267 00:13:08,520 --> 00:13:12,200 Speaker 2: But on the other side, the speculators, the brokers on 268 00:13:12,240 --> 00:13:15,720 Speaker 2: Wall Street, they have been selling off gold for various 269 00:13:15,760 --> 00:13:18,719 Speaker 2: reasons in ETFs, so that's where some gold has come 270 00:13:18,800 --> 00:13:22,080 Speaker 2: back into the market. Gold's up about three percent this year. 271 00:13:22,600 --> 00:13:24,760 Speaker 2: At one time it was up about nine percent, and 272 00:13:24,800 --> 00:13:28,160 Speaker 2: it's gone back and forth. The dollars strengthened now more 273 00:13:28,200 --> 00:13:32,679 Speaker 2: because it's all the world's currencies are being inflated and 274 00:13:32,800 --> 00:13:35,640 Speaker 2: are fiat to some degree, a word that you used 275 00:13:35,679 --> 00:13:39,319 Speaker 2: in previous conversations, and so it's kind of like we're 276 00:13:39,160 --> 00:13:42,040 Speaker 2: the best of the worst. Is a race to the bottom, 277 00:13:42,120 --> 00:13:45,200 Speaker 2: we might say. So right now the dollar is a 278 00:13:45,200 --> 00:13:49,320 Speaker 2: little stronger. People look at the raised interest rates and saying, hey, 279 00:13:49,840 --> 00:13:52,439 Speaker 2: we think the dollars a little stronger around the world, 280 00:13:52,480 --> 00:13:58,400 Speaker 2: which generally decreases gold in dollar times now dollar value. 281 00:13:59,080 --> 00:14:04,480 Speaker 2: Since two gold was two fifty, it's now eighteen sixty six. 282 00:14:05,200 --> 00:14:09,000 Speaker 2: Gold has outperformed all other major investment you think of, 283 00:14:09,320 --> 00:14:12,440 Speaker 2: which is one reason. In a Gallop poll, gold is 284 00:14:12,480 --> 00:14:15,400 Speaker 2: the number two area that people say they're going to 285 00:14:15,440 --> 00:14:18,360 Speaker 2: invest in. It's moved up from number four three years ago, 286 00:14:18,640 --> 00:14:21,640 Speaker 2: with only real estate is number one, but it's gone 287 00:14:21,640 --> 00:14:24,600 Speaker 2: above stocks and bonds and other things that people want 288 00:14:24,640 --> 00:14:26,840 Speaker 2: to own gold, and we're seeing much more demand. 289 00:14:26,840 --> 00:14:28,560 Speaker 1: We talked about different ways to own gold, and I 290 00:14:28,560 --> 00:14:30,680 Speaker 1: just want to say for everybody listening, this isn't really 291 00:14:30,720 --> 00:14:32,800 Speaker 1: a one size fits all answer. And so if you 292 00:14:32,840 --> 00:14:35,720 Speaker 1: have one gold coin or one little gold bar, you know, 293 00:14:35,760 --> 00:14:36,800 Speaker 1: you don't have to worry about. 294 00:14:36,560 --> 00:14:37,080 Speaker 3: It as much. 295 00:14:37,160 --> 00:14:39,160 Speaker 1: The more that you have, the more you have to 296 00:14:39,160 --> 00:14:42,600 Speaker 1: worry about it. So if you have, you know, a 297 00:14:42,640 --> 00:14:44,440 Speaker 1: gram of gold, I mean, maybe you do stick it 298 00:14:44,440 --> 00:14:46,560 Speaker 1: in your kid's socktor, or maybe you get a little 299 00:14:46,560 --> 00:14:49,280 Speaker 1: safe for your closet. If you have more gold and 300 00:14:49,360 --> 00:14:51,240 Speaker 1: you want a better safe. Now, that also depends on 301 00:14:51,280 --> 00:14:53,480 Speaker 1: where you live. If you live in an apartment in 302 00:14:53,520 --> 00:14:55,480 Speaker 1: a very dangerous neighborhood, maybe you don't want to keep 303 00:14:55,480 --> 00:14:57,200 Speaker 1: any of there at all, versus if you live in 304 00:14:57,240 --> 00:14:59,680 Speaker 1: a big, guarded neighborhood and then maybe you keep more there. 305 00:15:00,360 --> 00:15:02,200 Speaker 1: You need to understand that's a little bit different for everybody. 306 00:15:02,280 --> 00:15:03,800 Speaker 3: If you have lots of gold. 307 00:15:03,720 --> 00:15:05,680 Speaker 1: You know, I think keeping it in some of these 308 00:15:05,760 --> 00:15:09,120 Speaker 1: vaults like that you recommended, Mike is a good idea specifically, 309 00:15:09,160 --> 00:15:10,920 Speaker 1: if you have a lot of gold, potentially holding it 310 00:15:10,960 --> 00:15:14,560 Speaker 1: in vaults around the world even And so that's what 311 00:15:14,600 --> 00:15:17,200 Speaker 1: I've done, putting kind of some gold around other parts 312 00:15:17,240 --> 00:15:19,800 Speaker 1: of the world, so just in case, that's what sort 313 00:15:19,800 --> 00:15:21,880 Speaker 1: of I keep gold for like this, just in case 314 00:15:22,400 --> 00:15:24,400 Speaker 1: maybe I need to access it from somewhere else, and 315 00:15:24,440 --> 00:15:26,200 Speaker 1: so you have those as options, so you kind of 316 00:15:26,200 --> 00:15:28,480 Speaker 1: think through that. On the ETF side, though, I would 317 00:15:28,520 --> 00:15:31,160 Speaker 1: also warn people that a lot of ETFs don't actually 318 00:15:31,200 --> 00:15:33,840 Speaker 1: have the gold, so not everyone buys one to one 319 00:15:33,960 --> 00:15:37,680 Speaker 1: like you've suggested, and so unfortunately, you know, it's hard 320 00:15:37,680 --> 00:15:40,000 Speaker 1: to know exactly, but there's estimates that show that there's 321 00:15:40,080 --> 00:15:43,960 Speaker 1: about maybe as many as five hundred paper ounces for 322 00:15:44,040 --> 00:15:46,800 Speaker 1: every one physical ounce. And so at the end of 323 00:15:46,800 --> 00:15:49,480 Speaker 1: the day, if you know, the proverbial stuff hits the fans, 324 00:15:49,480 --> 00:15:52,320 Speaker 1: so to speak, you could find yourself ended up. You know, 325 00:15:52,400 --> 00:15:54,840 Speaker 1: you have some paper, a paper claim to gold that 326 00:15:54,920 --> 00:15:57,640 Speaker 1: you don't have any gold for. Have you heard any 327 00:15:57,720 --> 00:16:01,600 Speaker 1: estimates about how many potential paper versus haven't? 328 00:16:01,600 --> 00:16:03,920 Speaker 2: But because you brought that up, I'm going to research that. 329 00:16:04,000 --> 00:16:06,640 Speaker 2: Because some of the ETFs I looked into did do 330 00:16:06,800 --> 00:16:10,320 Speaker 2: one to one, but if they aren't, I would avoid those. 331 00:16:10,440 --> 00:16:12,360 Speaker 2: I would want a one to one ratio in the 332 00:16:12,400 --> 00:16:15,560 Speaker 2: ETFs I would invest in. I also wanted to mention 333 00:16:15,600 --> 00:16:18,240 Speaker 2: when you said holding gold. There are a lot of 334 00:16:18,280 --> 00:16:22,200 Speaker 2: counterfeits from China. China is not just sending over purses 335 00:16:22,240 --> 00:16:25,720 Speaker 2: and rolexes and vent all sorts of jewelry and fentanyl 336 00:16:26,480 --> 00:16:31,680 Speaker 2: components and you know, trafficking humans and all the other 337 00:16:31,720 --> 00:16:34,880 Speaker 2: things they're sending over. Lots of counterfeit goods, airline parts, 338 00:16:34,960 --> 00:16:40,480 Speaker 2: medical parts, cosmetics filled with lead that are toxic, and coins, 339 00:16:40,520 --> 00:16:44,840 Speaker 2: precious metals and bars tungsten bars layered with gold on 340 00:16:44,880 --> 00:16:48,560 Speaker 2: the top that I got interviewed on NBC on You've 341 00:16:48,600 --> 00:16:52,120 Speaker 2: got to buy. When you buy gold or precious metals, 342 00:16:52,200 --> 00:16:54,760 Speaker 2: you have to know the dealer very well. Is he 343 00:16:55,120 --> 00:16:58,440 Speaker 2: a member of respected organizations in the coin and precious 344 00:16:58,480 --> 00:17:01,320 Speaker 2: metal field? Better yet, you want awards or served on 345 00:17:01,360 --> 00:17:04,720 Speaker 2: their boards because just buying gold because of a radio 346 00:17:04,800 --> 00:17:07,879 Speaker 2: ad or me. You've got to check out the dealer 347 00:17:09,160 --> 00:17:11,960 Speaker 2: by seeing what do they have too much to lose 348 00:17:12,000 --> 00:17:14,919 Speaker 2: to treat you improperly. And there are a lot of 349 00:17:14,920 --> 00:17:18,639 Speaker 2: counterfeits coming in from China. Facebook ads are some of 350 00:17:18,680 --> 00:17:23,639 Speaker 2: the worst things. Amazon and eBay we've seen lots of 351 00:17:23,680 --> 00:17:26,439 Speaker 2: counterfeits and they respond well when our industry tells them 352 00:17:26,440 --> 00:17:29,800 Speaker 2: there's a counterfeit listed on their platforms, but they can't 353 00:17:29,880 --> 00:17:32,920 Speaker 2: keep up with all of them. Ali Baba is littered 354 00:17:33,200 --> 00:17:37,480 Speaker 2: with counterfeits for a platform, and Wish Wish is horrible 355 00:17:38,000 --> 00:17:41,320 Speaker 2: platfor for counterfeits being on their platform. So you've got 356 00:17:41,320 --> 00:17:44,280 Speaker 2: to be very careful when you buy precious metals, even 357 00:17:44,320 --> 00:17:49,320 Speaker 2: counterfeit the outside containers and holders of official government containers 358 00:17:49,359 --> 00:17:54,200 Speaker 2: on pant bars or on US coins. So you have 359 00:17:54,320 --> 00:17:57,040 Speaker 2: to have someone that you buy from check them out 360 00:17:57,080 --> 00:17:59,840 Speaker 2: before you ever buy. Definitely great investment, but you have 361 00:17:59,880 --> 00:18:00,359 Speaker 2: to do. 362 00:18:00,280 --> 00:18:01,119 Speaker 3: That, definitely. 363 00:18:01,320 --> 00:18:02,800 Speaker 1: If you're just tuning in, you're listening to the Mark 364 00:18:02,880 --> 00:18:04,879 Speaker 1: Moss Show, I'm sitting down with doctor Mike Fulgens from 365 00:18:05,000 --> 00:18:08,000 Speaker 1: Universal Coin and boy On and we're talking about Yeah, 366 00:18:08,000 --> 00:18:09,720 Speaker 1: we're talking about gold. I want to get more into 367 00:18:09,760 --> 00:18:12,840 Speaker 1: the global demand for gold because man, the global South, 368 00:18:12,880 --> 00:18:15,480 Speaker 1: the bricks, it's creating a whole new world in paradigm. 369 00:18:15,520 --> 00:18:16,840 Speaker 1: We're gonna cover that when we come back. We take 370 00:18:16,880 --> 00:18:18,480 Speaker 1: a very short break, but we'll be right back. 371 00:18:18,560 --> 00:18:20,000 Speaker 3: O't go away, all right, Welcome back. 372 00:18:20,000 --> 00:18:21,440 Speaker 1: If you're just tuning in, you're listening to the Mark 373 00:18:21,520 --> 00:18:24,200 Speaker 1: Moss Show, sitting down with doctor Mike Fulgens from Universal 374 00:18:24,240 --> 00:18:26,960 Speaker 1: Coin and boyon, and we're just talking through gold. We 375 00:18:26,960 --> 00:18:28,879 Speaker 1: were talking about through the kind of the history of gold. 376 00:18:29,160 --> 00:18:31,560 Speaker 1: Now I want to talk maybe about the future of gold. 377 00:18:31,680 --> 00:18:35,720 Speaker 1: So you had mentioned earlier that central banks have bought 378 00:18:35,760 --> 00:18:37,720 Speaker 1: more gold than they have in like the last fifty 379 00:18:37,720 --> 00:18:40,840 Speaker 1: five years, five decades or so, and it continues to 380 00:18:40,880 --> 00:18:45,720 Speaker 1: go up. I guess what's your take on, like the 381 00:18:45,840 --> 00:18:49,800 Speaker 1: rise of the bricks and potentially them trying to, you know, 382 00:18:50,280 --> 00:18:52,359 Speaker 1: maybe do some sort of gold back currency or maybe 383 00:18:52,440 --> 00:18:54,760 Speaker 1: use gold as like a reserve asset or something like that. 384 00:18:56,359 --> 00:19:00,040 Speaker 2: There's a lot of thought that they are trying to 385 00:19:00,200 --> 00:19:04,160 Speaker 2: usurp the position of the dollar as the leading currency 386 00:19:04,160 --> 00:19:06,840 Speaker 2: in the world, and by having more goal to back 387 00:19:06,920 --> 00:19:10,320 Speaker 2: up their currency, they would use that as a marketing 388 00:19:10,440 --> 00:19:13,760 Speaker 2: or actual tool to convince countries and people to do that. 389 00:19:14,240 --> 00:19:17,080 Speaker 2: So as we run up more and more debt, like 390 00:19:17,119 --> 00:19:24,320 Speaker 2: you so appropriately pointed out, and print money way above 391 00:19:24,359 --> 00:19:28,720 Speaker 2: the GDP and increase our debt dramatically like you pointed out, 392 00:19:30,200 --> 00:19:32,720 Speaker 2: they'll have more of an argument for that. Not today, 393 00:19:33,119 --> 00:19:38,360 Speaker 2: but as we go forward. So I foresee that there 394 00:19:38,359 --> 00:19:42,040 Speaker 2: will be a challenge on that, especially from trying countries 395 00:19:42,080 --> 00:19:45,440 Speaker 2: that we are not as friendly with trying to set 396 00:19:45,480 --> 00:19:47,800 Speaker 2: something up amongst more and more countries to compete with 397 00:19:47,840 --> 00:19:51,760 Speaker 2: the dollar and the status of our currency. And that's 398 00:19:51,800 --> 00:19:54,320 Speaker 2: good for gold, but it's not good for the future 399 00:19:54,359 --> 00:19:56,159 Speaker 2: of the country in many ways financially. 400 00:19:58,240 --> 00:20:00,560 Speaker 3: That's debatable, right good? Right? 401 00:20:00,600 --> 00:20:00,760 Speaker 2: Good? 402 00:20:00,800 --> 00:20:02,240 Speaker 3: And bad is very subjective word. 403 00:20:02,920 --> 00:20:05,840 Speaker 1: It certainly diminishes, you know, if the dollar gets sort 404 00:20:05,880 --> 00:20:10,119 Speaker 1: of usurped, as you said, it certainly diminishes the ability 405 00:20:10,160 --> 00:20:12,520 Speaker 1: of the United States to continue to run these massive deficits. 406 00:20:13,320 --> 00:20:15,880 Speaker 1: Certainly diminishes their role to kind of conjure up money 407 00:20:15,880 --> 00:20:18,320 Speaker 1: out of thin air without having to suffer the consequences 408 00:20:18,359 --> 00:20:19,200 Speaker 1: of massive deflation. 409 00:20:19,280 --> 00:20:19,760 Speaker 3: For sure. 410 00:20:20,680 --> 00:20:23,560 Speaker 1: Could that be better for people of America in the 411 00:20:23,600 --> 00:20:26,720 Speaker 1: long run. I think it certainly could be, but not 412 00:20:26,800 --> 00:20:29,000 Speaker 1: without probably a lot of pain and turbulence along the way, 413 00:20:29,000 --> 00:20:32,159 Speaker 1: that's for sure. But going back to that point, you 414 00:20:32,200 --> 00:20:34,480 Speaker 1: know what I've seen, you know, the rise of the 415 00:20:34,520 --> 00:20:36,280 Speaker 1: bricks we're seeing and you already kind of mentioned some 416 00:20:36,320 --> 00:20:38,719 Speaker 1: of these nations that are actually buying gold, and so 417 00:20:38,720 --> 00:20:41,640 Speaker 1: they're actually trending down in US dollar treasury, so they're 418 00:20:41,640 --> 00:20:43,760 Speaker 1: buying less and less treasuries and they're buying more and 419 00:20:43,760 --> 00:20:45,080 Speaker 1: more goals As a matter of fact, they've been net 420 00:20:45,160 --> 00:20:48,160 Speaker 1: sellers of treasuries and buyers of gold, which is pretty interesting. 421 00:20:48,560 --> 00:20:51,119 Speaker 1: And a lot of people are saying that, well, you know, 422 00:20:51,240 --> 00:20:53,040 Speaker 1: there's no replacement for the dollar. They don't have the 423 00:20:53,040 --> 00:20:56,560 Speaker 1: Swiss system, the correspondent banks, there's no deep liquid bond 424 00:20:56,560 --> 00:20:58,800 Speaker 1: market for them to put money into, which I would 425 00:20:58,840 --> 00:21:03,080 Speaker 1: agree with that, But they can just hold gold, and 426 00:21:03,119 --> 00:21:05,600 Speaker 1: it looks like that's what's happening. So I think that's 427 00:21:05,600 --> 00:21:07,720 Speaker 1: a very interesting dynamic. I don't know if they're going 428 00:21:07,800 --> 00:21:10,320 Speaker 1: to go back to a gold backed currency per se. 429 00:21:11,119 --> 00:21:14,640 Speaker 1: In the last the bricks meaning that they had in August, 430 00:21:15,040 --> 00:21:18,440 Speaker 1: they were recommending that each nation trade in their own currencies. 431 00:21:18,560 --> 00:21:20,440 Speaker 1: So it's like a currency, but as far as like 432 00:21:20,480 --> 00:21:23,480 Speaker 1: a reserve asset, maybe instead of holding US treasuries they 433 00:21:23,520 --> 00:21:25,680 Speaker 1: would hold gold, and that's going to be a massive, 434 00:21:25,720 --> 00:21:30,000 Speaker 1: massive tail end. What about what about the price of gold? 435 00:21:30,320 --> 00:21:33,520 Speaker 1: So as I kind of said, you know, there's potentially 436 00:21:33,600 --> 00:21:37,240 Speaker 1: you know several maybe potentially hundreds of more paper ounces 437 00:21:37,440 --> 00:21:41,760 Speaker 1: for physical ounce. There's all types of shorting, naked shorting 438 00:21:41,800 --> 00:21:44,560 Speaker 1: going on Wall Street. JP Morgan traders went to prison 439 00:21:44,600 --> 00:21:47,639 Speaker 1: over it, and then the price of gold is set 440 00:21:47,680 --> 00:21:52,000 Speaker 1: every day by the LBMA, a group of bankers in 441 00:21:52,040 --> 00:21:54,080 Speaker 1: London that just hop on a phone call and set 442 00:21:54,119 --> 00:21:57,240 Speaker 1: the price. How much of the gold price do you 443 00:21:57,320 --> 00:22:00,000 Speaker 1: think has really been suppressed because of some of these things. 444 00:22:01,920 --> 00:22:05,200 Speaker 2: Well, there have been lawsuits over the last decade plus 445 00:22:05,280 --> 00:22:10,359 Speaker 2: about suppression of gold prices, and not much ever came 446 00:22:10,400 --> 00:22:14,560 Speaker 2: from that, from the civil lawsuits brought by even some 447 00:22:14,680 --> 00:22:17,760 Speaker 2: major coin companies on that that felt that was happening. 448 00:22:18,320 --> 00:22:24,560 Speaker 2: But you know, people will look for advantages, and I 449 00:22:24,640 --> 00:22:27,639 Speaker 2: have no doubt that over the years there has been 450 00:22:29,480 --> 00:22:34,080 Speaker 2: things done to somewhat suppressed gold or maybe even somewhat 451 00:22:34,560 --> 00:22:39,600 Speaker 2: encourage better pricing, but it hasn't come out in major 452 00:22:39,680 --> 00:22:43,000 Speaker 2: court cases, expensive ones brought over the years by people 453 00:22:43,000 --> 00:22:43,840 Speaker 2: I know personally. 454 00:22:45,240 --> 00:22:49,359 Speaker 1: Yeah, so without without any strong action, you're not really 455 00:22:49,359 --> 00:22:51,520 Speaker 1: sure how legitimate those kind of claims are on that. 456 00:22:53,440 --> 00:22:55,560 Speaker 1: It just seems like with all the demand that we've had, 457 00:22:56,600 --> 00:22:58,600 Speaker 1: that the price should move a little bit better. And 458 00:22:58,880 --> 00:23:02,040 Speaker 1: and you know, obviously if they create artificial demand outside 459 00:23:02,080 --> 00:23:04,480 Speaker 1: of the physical asset, then that sort of you know, 460 00:23:04,600 --> 00:23:05,800 Speaker 1: kind of shows where things are at. 461 00:23:06,440 --> 00:23:07,720 Speaker 3: What about do you track like. 462 00:23:07,680 --> 00:23:10,240 Speaker 1: The amount of physical gold like in the comics, deliveries 463 00:23:10,240 --> 00:23:11,000 Speaker 1: and things like that. 464 00:23:11,840 --> 00:23:14,000 Speaker 2: No, I don't, but I did want to add to 465 00:23:14,040 --> 00:23:18,280 Speaker 2: this is that the last four election years, with uncertainty, 466 00:23:18,600 --> 00:23:21,760 Speaker 2: and especially now with turmoil around the world in many ways, 467 00:23:22,760 --> 00:23:25,719 Speaker 2: and the increased debt and everything. The last four election 468 00:23:25,840 --> 00:23:31,920 Speaker 2: years Obama, you know, when we had Trump Biden, when 469 00:23:31,920 --> 00:23:34,919 Speaker 2: you get through it, We've had substantial rises in gold 470 00:23:35,080 --> 00:23:38,240 Speaker 2: in the last four election years. And Mark Twain said 471 00:23:38,359 --> 00:23:42,040 Speaker 2: history doesn't always repeat itself, but it often rhymes, right, 472 00:23:42,240 --> 00:23:46,560 Speaker 2: And I have always thought election years are a good year, 473 00:23:46,600 --> 00:23:51,520 Speaker 2: and going back for decades, I bet on a ten 474 00:23:51,600 --> 00:23:55,280 Speaker 2: to twenty percent rise, which we've seen many times upcoming 475 00:23:55,280 --> 00:23:57,840 Speaker 2: in the next election year because all the uncertainty it brings. 476 00:23:59,040 --> 00:24:02,040 Speaker 1: So the uncertainty of this election, not knowing who's going 477 00:24:02,080 --> 00:24:04,120 Speaker 1: to get in, what policies they may or may not do, 478 00:24:04,480 --> 00:24:07,360 Speaker 1: things like that, gold has always been this like chaos heads, 479 00:24:07,400 --> 00:24:08,919 Speaker 1: that's sort of what I call it. So you're saying 480 00:24:09,080 --> 00:24:11,840 Speaker 1: that you think in times of uncertainty, people maybe flocked 481 00:24:11,880 --> 00:24:13,800 Speaker 1: to gold a little bit more and that caused it 482 00:24:13,880 --> 00:24:14,320 Speaker 1: to go up. 483 00:24:15,080 --> 00:24:17,360 Speaker 2: Yes, And like in eight when you had the massive 484 00:24:17,400 --> 00:24:21,760 Speaker 2: stock market drop, gold went up substantially. People flocked to 485 00:24:21,840 --> 00:24:26,640 Speaker 2: gold over the concerns there during banking crisis, it has happened, 486 00:24:26,880 --> 00:24:30,200 Speaker 2: people look for safe haven and so it's you call 487 00:24:30,240 --> 00:24:32,439 Speaker 2: it life insurance for the rest of your portfolio in 488 00:24:32,440 --> 00:24:32,720 Speaker 2: a way. 489 00:24:34,040 --> 00:24:36,600 Speaker 1: Yeah, we can see. I mean, obviously twenty twenty was 490 00:24:36,600 --> 00:24:40,679 Speaker 1: a pretty extreme case with the pandemic and whatnot, but 491 00:24:40,720 --> 00:24:43,320 Speaker 1: we can see that. Yeah, to your point, gold you know, 492 00:24:43,400 --> 00:24:47,360 Speaker 1: shot up about fifty percent in twenty twenty, So it did. 493 00:24:47,400 --> 00:24:50,720 Speaker 3: It did definitely move up quite a bit. In two 494 00:24:50,760 --> 00:24:51,720 Speaker 3: thousand and eight. 495 00:24:52,240 --> 00:24:54,639 Speaker 1: I mean, we had the financial the Great Financial crisis, 496 00:24:54,680 --> 00:24:57,320 Speaker 1: and gold sort of got smashed along with stocks at 497 00:24:57,320 --> 00:24:57,720 Speaker 1: that time. 498 00:24:59,200 --> 00:25:00,000 Speaker 3: Right it was down. 499 00:25:00,560 --> 00:25:04,040 Speaker 1: Looks like it dropped about fifty percent during that time, 500 00:25:04,080 --> 00:25:06,120 Speaker 1: and then but then it took off and it climbed 501 00:25:06,720 --> 00:25:09,600 Speaker 1: what from there, went up one hundred and seventy five 502 00:25:09,640 --> 00:25:10,480 Speaker 1: percent right after the. 503 00:25:10,480 --> 00:25:13,679 Speaker 2: Way above what it took stocks longer to recover, and 504 00:25:13,720 --> 00:25:15,480 Speaker 2: it far outperformed that during that time. 505 00:25:15,560 --> 00:25:17,080 Speaker 1: Yeah, that's a very good point that I like to 506 00:25:17,080 --> 00:25:19,480 Speaker 1: bring up all the time. You know, when you look 507 00:25:19,520 --> 00:25:22,280 Speaker 1: at gold's supposed to be the safe asset haven, but 508 00:25:22,400 --> 00:25:24,840 Speaker 1: you know, in the liquidity crisis, everything sort of gets 509 00:25:24,840 --> 00:25:26,640 Speaker 1: smashed at the same time, the baby gets thrown out 510 00:25:26,640 --> 00:25:29,520 Speaker 1: with the bath water, so to speak. And that the 511 00:25:29,560 --> 00:25:31,239 Speaker 1: point that you just brought up is exactly right if 512 00:25:31,520 --> 00:25:34,760 Speaker 1: we did see gold drop in two thousand and eight 513 00:25:34,800 --> 00:25:36,800 Speaker 1: along with the stock market. But the key piece that 514 00:25:36,880 --> 00:25:39,320 Speaker 1: I like to bring back is two pieces. One, it 515 00:25:39,359 --> 00:25:42,439 Speaker 1: took gold about seven months to get back to its 516 00:25:42,520 --> 00:25:45,480 Speaker 1: previous high, whereas it took stocks seven. 517 00:25:45,280 --> 00:25:47,480 Speaker 3: Years, so that's a big deal. 518 00:25:47,720 --> 00:25:50,639 Speaker 1: And two, stocks got back up after seven years and 519 00:25:50,640 --> 00:25:53,399 Speaker 1: then slowly grinded higher, whereas gold didn't just get back 520 00:25:53,400 --> 00:25:55,840 Speaker 1: in seven months. It's skyrocket and took off one hundred 521 00:25:55,840 --> 00:25:58,640 Speaker 1: and seventy five percent in just a short period of time. 522 00:25:58,680 --> 00:26:01,200 Speaker 1: So I think it's a very key piece to understand 523 00:26:01,200 --> 00:26:01,560 Speaker 1: in that. 524 00:26:03,240 --> 00:26:07,199 Speaker 2: I think, can I inject one more thing out here? 525 00:26:07,280 --> 00:26:09,600 Speaker 2: And I so love the points you're bringing up, and 526 00:26:09,640 --> 00:26:12,719 Speaker 2: I always say this is very important for people. You 527 00:26:12,760 --> 00:26:15,680 Speaker 2: can buy gold after researching it pretty easily, but when 528 00:26:15,720 --> 00:26:18,480 Speaker 2: you go to sell gold, it's equally important to know 529 00:26:18,520 --> 00:26:21,880 Speaker 2: who you're going to sell it to. And gold parties 530 00:26:22,720 --> 00:26:26,480 Speaker 2: get you a small amount of the money that reputable 531 00:26:26,560 --> 00:26:30,160 Speaker 2: large coin dealers would pay. Mail in gold ads bump 532 00:26:30,240 --> 00:26:34,040 Speaker 2: up when gold's hot. You'll see hotel coin buyers. You'll 533 00:26:34,040 --> 00:26:40,080 Speaker 2: see gold parties, you'll see ads, pawnbrokers advertising. We've done 534 00:26:40,160 --> 00:26:44,639 Speaker 2: surveys all over the country. A reputile large coin dealer 535 00:26:45,000 --> 00:26:47,520 Speaker 2: pays the most for it. And you've got to redo 536 00:26:47,560 --> 00:26:51,359 Speaker 2: your research before you sell because you can literally get 537 00:26:51,680 --> 00:26:53,800 Speaker 2: ten to twenty cents on the dollar. In the testing. 538 00:26:55,040 --> 00:26:58,679 Speaker 2: Buddy of mine Jerry Jordan, a very good reporter and editor, 539 00:26:59,080 --> 00:27:02,240 Speaker 2: and I tested in numerous states and state capital areas 540 00:27:02,760 --> 00:27:07,360 Speaker 2: and we just found you've got to spend time researching 541 00:27:07,400 --> 00:27:10,080 Speaker 2: who you sell to before you sell. Don't rush into 542 00:27:10,080 --> 00:27:12,719 Speaker 2: that decision. People think about buying, but when they sell, 543 00:27:12,920 --> 00:27:15,639 Speaker 2: they generally have theirs to sell, and oftentimes they go 544 00:27:15,680 --> 00:27:20,760 Speaker 2: to the You wouldn't sell stamps to a car car auction. 545 00:27:21,400 --> 00:27:25,120 Speaker 2: You go to the experts in the area and make 546 00:27:25,160 --> 00:27:27,240 Speaker 2: sure you do your research and homework before you sell. 547 00:27:27,840 --> 00:27:30,000 Speaker 1: That's a good point. I want to get some more 548 00:27:30,000 --> 00:27:32,280 Speaker 1: practical tips of how you do research and what you 549 00:27:32,280 --> 00:27:33,120 Speaker 1: should be looking for. 550 00:27:33,320 --> 00:27:34,400 Speaker 3: But I gotta take a quick break. 551 00:27:34,520 --> 00:27:36,120 Speaker 1: If you're just tuned in you listing to the Mark 552 00:27:36,200 --> 00:27:38,560 Speaker 1: Maas Show. I'm sitting down with doctor Mike Fulgens from 553 00:27:38,760 --> 00:27:42,359 Speaker 1: Universal Coin and Bullion and we're talking about gold, we're 554 00:27:42,359 --> 00:27:44,800 Speaker 1: talking about the financial system, and we're talking about protecting 555 00:27:44,920 --> 00:27:45,680 Speaker 1: your wealth. 556 00:27:45,720 --> 00:27:46,400 Speaker 3: It's the key piece. 557 00:27:46,600 --> 00:27:47,920 Speaker 1: I got to take a very quick break when we 558 00:27:48,040 --> 00:27:50,240 Speaker 1: come back with some tips on exactly how you can 559 00:27:50,280 --> 00:27:52,639 Speaker 1: do that. Don't go away, we'll be back, all right, 560 00:27:52,640 --> 00:27:54,600 Speaker 1: Welcome back. If you just tuned inlycing to the Mark 561 00:27:54,640 --> 00:27:57,000 Speaker 1: Mass Show, and I'm sitting down with doctor Mike Fulgens 562 00:27:57,000 --> 00:28:00,520 Speaker 1: from Universal Coin and Bullion and we're talking about gold. 563 00:28:00,560 --> 00:28:03,439 Speaker 1: We're talking about how to protect your wealth. And you 564 00:28:03,480 --> 00:28:05,160 Speaker 1: know you would talk you'd made up a great point 565 00:28:05,160 --> 00:28:07,240 Speaker 1: before we took a break there and you talked about 566 00:28:07,320 --> 00:28:10,480 Speaker 1: you know, it's not just important only important to know 567 00:28:10,560 --> 00:28:13,240 Speaker 1: where you're buying it from, but also where you're selling 568 00:28:13,280 --> 00:28:15,479 Speaker 1: it to. I want to unpack that a little bit. 569 00:28:16,560 --> 00:28:18,400 Speaker 1: I know, you know a lot of people are concerned 570 00:28:18,440 --> 00:28:21,760 Speaker 1: about how much they're paying for the gold versus somebody else. 571 00:28:21,760 --> 00:28:25,400 Speaker 1: So typically you'd look for like overspot price, So there's 572 00:28:25,440 --> 00:28:28,040 Speaker 1: like the price of gold and then you would sell 573 00:28:28,080 --> 00:28:31,280 Speaker 1: it for overspot, and then there's lots of different types 574 00:28:31,320 --> 00:28:34,320 Speaker 1: of gold that are sold at different premiums overspot and 575 00:28:34,359 --> 00:28:36,800 Speaker 1: then I'm guessing when you sell it, you also sell 576 00:28:36,840 --> 00:28:39,240 Speaker 1: at a discount to spot. So what are you said 577 00:28:39,240 --> 00:28:41,440 Speaker 1: that people should do their research. What are some things 578 00:28:41,480 --> 00:28:43,680 Speaker 1: that they should be looking for or maybe some red 579 00:28:43,680 --> 00:28:45,000 Speaker 1: flags they should be watching out for. 580 00:28:46,200 --> 00:28:48,800 Speaker 2: Well, when I wrote the guide for the Attorney General 581 00:28:48,800 --> 00:28:52,680 Speaker 2: of Texas, we pointed out they should be A plus 582 00:28:52,720 --> 00:28:55,640 Speaker 2: accredited with a Better Business Bureau. None of these are 583 00:28:55,680 --> 00:29:00,120 Speaker 2: a are the sole reason you should use them, and 584 00:29:00,760 --> 00:29:03,000 Speaker 2: bad people are created by the BBB. It just takes 585 00:29:03,040 --> 00:29:05,680 Speaker 2: a while for them to get enough complaints and issues 586 00:29:05,680 --> 00:29:08,240 Speaker 2: come up. But I look for that. I looked to 587 00:29:08,240 --> 00:29:10,360 Speaker 2: see did they ever win award in their profession? Like 588 00:29:10,400 --> 00:29:14,960 Speaker 2: what's behind me? Are they contributed to guide books on 589 00:29:15,120 --> 00:29:20,120 Speaker 2: the field, are they on boards locally or nationally in 590 00:29:20,160 --> 00:29:23,320 Speaker 2: the profession? And basically do they have too much to 591 00:29:23,360 --> 00:29:28,840 Speaker 2: lose to unethically treat you on the coins? And that's 592 00:29:28,880 --> 00:29:32,440 Speaker 2: what buying or selling you need to look into that. 593 00:29:32,560 --> 00:29:34,760 Speaker 2: And if you go to the consumer alert on gold 594 00:29:34,880 --> 00:29:38,440 Speaker 2: for the Texas Attorney General Ken Paxton, you can see 595 00:29:38,440 --> 00:29:42,200 Speaker 2: all the guidelines I put there that are on his website. 596 00:29:43,240 --> 00:29:47,400 Speaker 2: I also would say when you're buying, there's sales tax 597 00:29:47,480 --> 00:29:51,280 Speaker 2: exemptions in forty one states, but there's a number of 598 00:29:51,280 --> 00:29:55,640 Speaker 2: states WAYI, Maine, New Jersey, New Mexico, Kentucky, Vermont, Wisconsin, 599 00:29:55,800 --> 00:29:58,320 Speaker 2: washingt d C. Where you've got to play sales tax. 600 00:29:58,880 --> 00:30:01,520 Speaker 2: You do not want to pay sales tax of let's 601 00:30:01,560 --> 00:30:04,760 Speaker 2: say eight percent, like it would be in some states 602 00:30:05,480 --> 00:30:08,400 Speaker 2: when a reputable dealer makes one to two percent on 603 00:30:08,440 --> 00:30:12,520 Speaker 2: his bullion sales or less. So it is legal to 604 00:30:12,560 --> 00:30:15,880 Speaker 2: have it shipped to a state that doesn't have sales tax, 605 00:30:15,920 --> 00:30:20,680 Speaker 2: a depository in Delaware or in Dallas, Texas or somewhere 606 00:30:20,720 --> 00:30:23,560 Speaker 2: like that. Or you could go buy it in another 607 00:30:23,600 --> 00:30:25,920 Speaker 2: state and then drive it or fly it to your state. 608 00:30:26,400 --> 00:30:29,560 Speaker 2: But please don't pay eight percent if you're in one 609 00:30:29,600 --> 00:30:33,680 Speaker 2: of these states that have a sales tax, or you're 610 00:30:33,680 --> 00:30:36,440 Speaker 2: in a state that only has a partial exemption. Something 611 00:30:36,440 --> 00:30:39,200 Speaker 2: to look at. There's some people I was following online 612 00:30:39,200 --> 00:30:43,240 Speaker 2: today that were upset that they bought gold from a major, 613 00:30:43,680 --> 00:30:47,640 Speaker 2: major outlet that started selling gold bars and they got 614 00:30:47,720 --> 00:30:50,480 Speaker 2: charged the tax and they said, we got an exemption, 615 00:30:51,160 --> 00:30:58,320 Speaker 2: but this major platform of this organization, grocery store, did 616 00:30:58,360 --> 00:31:01,400 Speaker 2: not collect the tax with the exemptions like we've been 617 00:31:01,440 --> 00:31:04,720 Speaker 2: involved in setting that. How do you collect it properly 618 00:31:04,840 --> 00:31:07,600 Speaker 2: in all the states and so you've got to make 619 00:31:07,640 --> 00:31:11,600 Speaker 2: sure that you pay your legal taxes, but you don't 620 00:31:11,640 --> 00:31:12,800 Speaker 2: pay tax if you don't have to. 621 00:31:14,400 --> 00:31:16,200 Speaker 1: Yeah, that's a that's a big one that people should 622 00:31:16,200 --> 00:31:18,120 Speaker 1: pay pay attention to because, yeah, to your point, if 623 00:31:18,120 --> 00:31:20,840 Speaker 1: you're paying two or three percent over spot, but then 624 00:31:20,880 --> 00:31:23,920 Speaker 1: you're paying eight percent on taxes, So like you may 625 00:31:23,920 --> 00:31:26,360 Speaker 1: be out there like trying to compare everybody and well, 626 00:31:26,360 --> 00:31:28,360 Speaker 1: this one's two percent over, this one's three percent over, 627 00:31:28,480 --> 00:31:32,040 Speaker 1: four percent over, but then you're completely missing the eight 628 00:31:32,080 --> 00:31:35,200 Speaker 1: percent that's hanging over your head potentially, And so being 629 00:31:35,240 --> 00:31:36,800 Speaker 1: aware of that seems like a pretty big deal. 630 00:31:37,360 --> 00:31:39,560 Speaker 2: So your question on which ways to buy it. You 631 00:31:39,560 --> 00:31:42,720 Speaker 2: can buy one ounce gold bars for about one and 632 00:31:42,760 --> 00:31:45,840 Speaker 2: a half to two and a half percent over gold 633 00:31:45,840 --> 00:31:52,160 Speaker 2: Spot per ounce, and dealers would pay you spot to 634 00:31:52,280 --> 00:31:55,960 Speaker 2: one percent over to buy it back. Gold coins the 635 00:31:55,960 --> 00:31:59,960 Speaker 2: two most popular coins in this country, the trade most often, 636 00:32:00,400 --> 00:32:04,120 Speaker 2: and dealers will give you the tightest buy cell spread 637 00:32:04,480 --> 00:32:06,840 Speaker 2: on things that don't stay on the shelf very long. 638 00:32:07,120 --> 00:32:09,640 Speaker 2: If you buy a kruegerand that stays on my shelf 639 00:32:09,680 --> 00:32:12,640 Speaker 2: for a while, I can't pay the tighter spread that 640 00:32:12,720 --> 00:32:15,200 Speaker 2: I do on the American Eagle or the Canadian maple leaf. 641 00:32:15,640 --> 00:32:18,240 Speaker 2: So you want to stay in a popular coin at 642 00:32:18,280 --> 00:32:22,080 Speaker 2: a good price spread and on American eagles, I buy 643 00:32:22,080 --> 00:32:24,520 Speaker 2: it two percent over spot. I sell it three and 644 00:32:24,520 --> 00:32:28,480 Speaker 2: a half. Some dealers sell it four four and a half. 645 00:32:28,480 --> 00:32:31,280 Speaker 2: Those are all fair. But if you get into a 646 00:32:31,760 --> 00:32:35,120 Speaker 2: less popular coin that's a little cheaper than the American eagle, 647 00:32:35,320 --> 00:32:38,440 Speaker 2: maybe it's the filler monic at three percent over spot, 648 00:32:38,720 --> 00:32:40,680 Speaker 2: but you may only get spot when you go to 649 00:32:40,760 --> 00:32:43,440 Speaker 2: sell it, and fewer dealers will buy it from you. 650 00:32:43,960 --> 00:32:47,440 Speaker 2: I would stay with the most popular gold bullion traded things. Now. 651 00:32:47,480 --> 00:32:51,720 Speaker 2: The problem with bars is oftentimes dealers who could tell 652 00:32:51,800 --> 00:32:55,320 Speaker 2: counterfeits on coins, there's not as good a way, even 653 00:32:55,360 --> 00:32:58,520 Speaker 2: with a X ray gun. We used to shoot to 654 00:32:58,600 --> 00:33:00,920 Speaker 2: tell for sure, so they got to send it off 655 00:33:01,360 --> 00:33:04,920 Speaker 2: to get assayed before they can buy it from you. 656 00:33:04,960 --> 00:33:08,080 Speaker 2: So you've got less liquidity with bars, and especially the 657 00:33:08,120 --> 00:33:10,360 Speaker 2: bigger the bar gets. We don't have much of a 658 00:33:10,400 --> 00:33:13,280 Speaker 2: counterfeiting issue with silver that way, but we do with gold. 659 00:33:13,600 --> 00:33:14,400 Speaker 3: What about silver? 660 00:33:15,400 --> 00:33:19,080 Speaker 2: I like silver, but it's heavy. People talk about survival silver. 661 00:33:19,520 --> 00:33:22,080 Speaker 2: You try to carry a large amount of silver to 662 00:33:22,120 --> 00:33:24,160 Speaker 2: get a dollar amount with you, and you're gonna get hurt. 663 00:33:24,960 --> 00:33:28,160 Speaker 2: But I do like silver. I like silver American eagles, 664 00:33:28,440 --> 00:33:32,080 Speaker 2: I like ten ounce bars, and I think everybody should 665 00:33:32,080 --> 00:33:34,960 Speaker 2: have some silver. But again, it may be better to 666 00:33:34,960 --> 00:33:37,920 Speaker 2: buy paper silver ETF for larger investments. 667 00:33:37,440 --> 00:33:40,480 Speaker 1: In silver, because it's so big and so heavy to 668 00:33:40,960 --> 00:33:41,760 Speaker 1: keep on your own. 669 00:33:41,600 --> 00:33:43,400 Speaker 2: And the storage is more expensive if you put it 670 00:33:43,400 --> 00:33:45,760 Speaker 2: in a safe deposit box. You have to get huge 671 00:33:45,800 --> 00:33:47,760 Speaker 2: safety deposit boxes because it's also if you get a 672 00:33:47,800 --> 00:33:52,080 Speaker 2: safety deposit box, get it an eye level, preferably too low. 673 00:33:52,280 --> 00:33:56,320 Speaker 2: If you're in a flooded area, like we are near water, 674 00:33:56,600 --> 00:33:59,240 Speaker 2: or if you're near a river. If you get a flood, 675 00:33:59,560 --> 00:34:02,960 Speaker 2: you get flooded. With everything too high, it's hard to access. 676 00:34:03,000 --> 00:34:06,520 Speaker 2: I like safety deposit boxes close to eye level, where 677 00:34:06,520 --> 00:34:07,720 Speaker 2: it wouldn't flood typically. 678 00:34:09,360 --> 00:34:11,439 Speaker 1: You know you've been doing this for a really long time, 679 00:34:11,520 --> 00:34:15,279 Speaker 1: so I'm curious you know your viewpoint of doing this 680 00:34:15,360 --> 00:34:19,600 Speaker 1: for so long. You know we're potentially staring down the 681 00:34:19,600 --> 00:34:22,840 Speaker 1: barrel of a recession coming. Lots of talk about a recesion. 682 00:34:22,880 --> 00:34:26,239 Speaker 1: Potentially we're even in a recession. The Biden administration changed 683 00:34:26,280 --> 00:34:28,759 Speaker 1: the definition of recession earlier this year, so we'd come 684 00:34:28,760 --> 00:34:29,320 Speaker 1: out of it. 685 00:34:29,440 --> 00:34:29,600 Speaker 2: Right. 686 00:34:29,760 --> 00:34:32,080 Speaker 1: You are but you know, so many people view that 687 00:34:32,120 --> 00:34:34,600 Speaker 1: potentially by the end of this year or most likely 688 00:34:34,640 --> 00:34:36,680 Speaker 1: next year, will go into a recession. And I'm just curious, 689 00:34:37,000 --> 00:34:40,799 Speaker 1: how have gold sales held up historically through recessions. Does 690 00:34:40,840 --> 00:34:44,080 Speaker 1: it typically have has it been good like it's typically 691 00:34:44,080 --> 00:34:46,560 Speaker 1: a strong time to buy, or does it kind of 692 00:34:46,680 --> 00:34:49,239 Speaker 1: is it recession resistant or does it really kind of get. 693 00:34:49,160 --> 00:34:49,600 Speaker 3: Hit by that. 694 00:34:50,920 --> 00:34:54,160 Speaker 2: You know, recession is one factor that can that can 695 00:34:54,239 --> 00:34:56,280 Speaker 2: hit where you have a little less buyers. But people 696 00:34:56,320 --> 00:34:59,480 Speaker 2: of wealth tend to keep buying gold and keep adding 697 00:34:59,480 --> 00:35:02,680 Speaker 2: if they're making money, they keep their proportion of gold, 698 00:35:02,680 --> 00:35:06,080 Speaker 2: which we recommend as the World Gold Council does ten 699 00:35:06,160 --> 00:35:09,160 Speaker 2: to twenty percent in gold because typically they say it 700 00:35:09,200 --> 00:35:12,000 Speaker 2: has a negative beta, it goes up when other assets 701 00:35:12,040 --> 00:35:16,719 Speaker 2: go down. So the people with considerable wealth what ubs 702 00:35:16,800 --> 00:35:21,640 Speaker 2: or Merrill Lynch look for over fifty with income and savings, 703 00:35:21,960 --> 00:35:25,040 Speaker 2: those people keep buying gold to add the percentage there. 704 00:35:26,160 --> 00:35:28,640 Speaker 2: People like I was when I was in my twenties 705 00:35:28,640 --> 00:35:31,840 Speaker 2: and thirties may not buy as much, but people of 706 00:35:31,920 --> 00:35:37,759 Speaker 2: wealth keep buying. The more uncertainty though oil price is rising, inflation, 707 00:35:38,640 --> 00:35:42,799 Speaker 2: worldwide turmoil, like I said, election years, that tends to 708 00:35:42,800 --> 00:35:45,440 Speaker 2: override anything and cause greater gold buying. 709 00:35:46,760 --> 00:35:49,120 Speaker 1: Yeah, you know, it's funny to me where you see 710 00:35:50,120 --> 00:35:53,480 Speaker 1: you know, videos of whatever online of like Black Friday sales. 711 00:35:53,520 --> 00:35:55,920 Speaker 1: You know, people are like camping out all night in 712 00:35:55,920 --> 00:35:57,759 Speaker 1: front of a wal Mart or whatever to get a 713 00:35:57,880 --> 00:35:59,960 Speaker 1: discount on a TV or something like that, to the 714 00:36:00,000 --> 00:36:02,480 Speaker 1: point where they're literally camping out over either trampling people 715 00:36:02,480 --> 00:36:04,719 Speaker 1: to get money or to save a little bit of 716 00:36:04,719 --> 00:36:08,160 Speaker 1: money on whatever that electronic may be. But when financial 717 00:36:08,200 --> 00:36:11,359 Speaker 1: assets are on sale, they then don't want to buy them, 718 00:36:11,719 --> 00:36:13,960 Speaker 1: Like that doesn't make any sense. Shouldn't we want to 719 00:36:14,040 --> 00:36:16,000 Speaker 1: back up the truck. When financial assets are on sale 720 00:36:16,040 --> 00:36:18,680 Speaker 1: as well, the humans. 721 00:36:18,400 --> 00:36:20,279 Speaker 2: Hope they'd buy on the dep But we're seeing more 722 00:36:20,320 --> 00:36:23,960 Speaker 2: people in their twenties and thirties who got into bitcoin 723 00:36:24,600 --> 00:36:27,600 Speaker 2: and saw you know, some of the wild swings from 724 00:36:28,440 --> 00:36:32,680 Speaker 2: sixty thousand dollars to twenty in the twenties and down lower. 725 00:36:33,080 --> 00:36:36,239 Speaker 2: They are now seeing the benefit of taking some of 726 00:36:36,239 --> 00:36:38,200 Speaker 2: their money they made in bitcoin or they have there 727 00:36:38,400 --> 00:36:41,520 Speaker 2: and moving. So we're seeing a lot more people in 728 00:36:41,520 --> 00:36:44,719 Speaker 2: the twenties and thirties buying some gold than we did 729 00:36:44,800 --> 00:36:47,120 Speaker 2: the previous couple decades. 730 00:36:47,400 --> 00:36:49,320 Speaker 1: Yeah, well, I know for me. You know, when the 731 00:36:49,360 --> 00:36:52,320 Speaker 1: two thousand and eight crisis happened, the Great Financial Crash, 732 00:36:52,560 --> 00:36:55,080 Speaker 1: you know, I started shell shocked, like what the heck 733 00:36:55,200 --> 00:36:57,840 Speaker 1: just happened. I had to start looking at the monetary 734 00:36:57,880 --> 00:37:00,360 Speaker 1: policy the FED. I realized that Fiat's the problem, and 735 00:37:00,400 --> 00:37:02,880 Speaker 1: I became a goldbug. Right, So it's a sound money policy. 736 00:37:02,960 --> 00:37:03,640 Speaker 3: This is what we want. 737 00:37:03,680 --> 00:37:05,400 Speaker 1: But if you just tune in, you're listening to the 738 00:37:05,440 --> 00:37:07,160 Speaker 1: Marcomas Show. I have been sitting down with doctor Mike 739 00:37:07,200 --> 00:37:11,920 Speaker 1: Fulgens from Universal Coin and Bullion, just talking through gold, 740 00:37:12,000 --> 00:37:13,839 Speaker 1: one of the oldest forms of money, the best way 741 00:37:13,880 --> 00:37:15,920 Speaker 1: to protect yourself, the chaos hedge as I call it. 742 00:37:16,239 --> 00:37:17,800 Speaker 1: And he's got a special deal. If you want to 743 00:37:17,840 --> 00:37:20,280 Speaker 1: get the best deal on gold, check him out universal 744 00:37:20,360 --> 00:37:23,720 Speaker 1: cooin dot com, slash a Mark Moss you'll get that deal. 745 00:37:23,960 --> 00:37:25,640 Speaker 1: And that's what we got. Thanks so much for listening today.