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Speaker 1: We're living in tough economic times with soaring grocery prices,

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Speaker 1: high inflation, and an unstable stock market. Do you really

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Speaker 1: Visit by Legacy goold dot com. In this episode of

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Speaker 1: News World, will we have a government shutdown? Will the

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Speaker 1: Federal Reserve raise interest rates again? Will inflation ever be

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Speaker 1: rained in? What's the number one issue in voters' minds

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Speaker 1: right now going into the twenty twenty four election. Today,

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Speaker 1: we're going to talk about all of these economic questions

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Speaker 1: and more and why it's so important to diversify your

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Speaker 1: investment portfolio. I'm really pleased to welcome back my guest,

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Speaker 1: Charles Thornngren, Founder and CEO of Legacy Precious Metals. Charles,

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Speaker 1: welcome and thank you for joining me again in News world.

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Speaker 1: It's always a pleasure to talk with you.

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Speaker 2: It's my pleasure, thank you.

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Speaker 1: So I thought we might start things off by talking

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Speaker 1: about the latest news from the Federal Reserve and their

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Speaker 1: efforts about inflation. The Federal Reserves September twentieth meeting Chairman

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Speaker 1: Pale afterwards said economic activity has been stronger than we expected,

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Speaker 1: stronger than I think everyone expected. Doesn't this put real

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Speaker 1: pressure in them to continue to raise interest rates until

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Speaker 1: they can bring the economy down dramatically.

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Speaker 2: When the Committee speaks, you have to look at it

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Speaker 2: from what they're trying to accomplish versus what they're trying

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Speaker 2: to let people feel. The economy. They have a dual

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Speaker 2: edge that they must maintain, and their goal is to

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Speaker 2: achieve maximum employment and inflation rates at two percent over

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Speaker 2: the long run. Of course, they can't do that immediately.

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Speaker 2: You have an issue where how do we get from

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Speaker 2: five and a half percent now back down to that

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Speaker 2: two percent without the big fear of creating a very

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Speaker 2: hard landing and a recession. So they have to address

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Speaker 2: the situation and continue to provide guidance that doesn't scare people,

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Speaker 2: and that's a difficult thing to do. So looking at

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Speaker 2: two percent, and how do we get there. It's going

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Speaker 2: to require additional raises, but the more important thing is

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Speaker 2: going to require a higher interest rate for a much

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Speaker 2: longer period of time. And I think when you look

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Speaker 2: at this scenario, it brings us to a place we've

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Speaker 2: never been before where we're talking about higher interest rates

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Speaker 2: for an extended period of time. And we have to

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Speaker 2: draw back to, you know, the scenario that President Reagan

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Speaker 2: had to deal with and that you were part of

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Speaker 2: getting us out of that situation as well. So it

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Speaker 2: brings us back to a bygone era that we must

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Speaker 2: address and we must protect ourself with.

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Speaker 1: So I mean, if they do go through even more

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Speaker 1: interest rate hikes, and I have a good friend who

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Speaker 1: makes a bit of money at this who said he

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Speaker 1: fully expects him to go police another half a percent

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Speaker 1: in the near future. I mean, in a way, this

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Speaker 1: is a classic demand side play of trying to weaken

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Speaker 1: the private sector economy enough that it stops creating inflation,

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Speaker 1: but at a time when the government is spending so

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Speaker 1: much extra money that the government is actually the primary

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Speaker 1: cause of the inflation.

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Speaker 2: That's true.

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Speaker 1: Isn't this the kind of turmoil that people need to

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Speaker 1: really sort of buckle down and realize what we're going through.

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Speaker 2: I think it is. I think, like you said, the

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Speaker 2: government printing is one of the leading reasons for the

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Speaker 2: inflation that we have. But again, we have interest rates

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Speaker 2: going up in that classic event, trying to push down

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Speaker 2: purchasing to help create less of a demand. But at

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Speaker 2: the same time we have to consider too that we

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Speaker 2: have a government that's now saying, let's raise the amount

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Speaker 2: that everyone gets paid, let's raise minimum wage, let's pay

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Speaker 2: people more. You're run into an issue there. If you're

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Speaker 2: paying people more, they spend more, so you almost effectively

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Speaker 2: cancel your interest raises with the effect that they're going

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Speaker 2: to have, which creates a bigger issue because sooner or

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Speaker 2: later that will break and we will see the recession coming.

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Speaker 1: I was struck with the amount that the United Auto

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Speaker 1: Workers are demanding in their strike of the traditional American

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Speaker 1: Big three companies that would be so unbelievably inflationary and

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Speaker 1: would potentially put the companies out of business because they

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Speaker 1: literally would not be able to compete in the cost

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Speaker 1: of building cars. I mean, once this inflationary psychology sets in,

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Speaker 1: everybody wants to get more because they want to try

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Speaker 1: to get ahead of the curve, which then increases the

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Speaker 1: pressure for more inflation.

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Speaker 2: Absolutely, it's an evil self fulfilling circle at a time

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Speaker 2: where American auto workers, we're going to be competing on

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Speaker 2: just the price of cars based on a stronger dollar.

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Speaker 2: We haven't really talked about that much, but we're automatically

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Speaker 2: making our vehicles more difficult to buy overseas and here

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Speaker 2: as well. The weaker other currencies are means the cheaper

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Speaker 2: their cars are when they come to the United States.

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Speaker 2: So if we're going to do this and this is

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Speaker 2: the way out, we have to realize we're hurting our

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Speaker 2: automotive industry while trying to say we're doing something good.

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Speaker 2: People making money is a good thing. But when it

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Speaker 2: costs jobs, because this will in the long run and

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Speaker 2: it costs sales, that's going to lead us to much

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Speaker 2: bigger problems. And we're going to have another scenario where

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Speaker 2: we're going to have to come out with a campaign

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Speaker 2: that says buy America first, because we're going to make

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Speaker 2: our cars two defensive.

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Speaker 1: I just ran across a note that the Federal Reserve

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Speaker 1: is actually going to cut its staff by five hundred positions.

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Speaker 1: I mean, I have no idea why they're doing that.

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Speaker 1: That's pretty unusual for them.

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Speaker 2: It's very unusual. It's over a decade since it's happened

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Speaker 2: last and it's difficult to understand what exactly that's leading

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Speaker 2: to and why it's the biggest drop since twenty ten

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Speaker 2: at a time when they're doing more and more. So

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Speaker 2: it's a little confusing. And this is one of those

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Speaker 2: things that sends mixed signals to fellow Americans. If the

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Speaker 2: Federal Reserve's cutting jobs, how can we say the economy

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Speaker 2: is strong. They have numbers that say that it is,

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Speaker 2: but yet they're even in the process of laying off people.

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Speaker 2: This is a warning sign. This is what we typically

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Speaker 2: look for when we see that there's a recession coming,

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Speaker 2: the layoff of people. Companies know better, and in this case,

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Speaker 2: the Federal Reserve knows better. So it does indicate some

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Speaker 2: of the other concerns we have.

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Speaker 1: The American people are sufficiently worried about inflation that when

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Speaker 1: I asked if they want to cut spending to balance

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Speaker 1: the budget and reduce inflation, seventy eight percent said yes.

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Speaker 1: Only eleven percent disagreed. I mean, this is a really

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Speaker 1: high number favoring a smaller.

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Speaker 2: Government absolutely, and I do have to question who those

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Speaker 2: eleven percent are, but that's another conversation. But when you

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Speaker 2: see an overwhelming number like that, that lets you know

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Speaker 2: that we all feel that, we all get it, and

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Speaker 2: it's time for our government to react in a way

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Speaker 2: that supports us, that takes themselves out of the way

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Speaker 2: from what is coming. Americans don't need that much government.

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Speaker 2: We say that over and over again, but here it

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Speaker 2: is in a poll proving that point, because we see

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Speaker 2: what they've done hasn't really helped us. They are part

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Speaker 2: of the problem that we're going to be suffering in

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Speaker 2: the recession that's yet to come.

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Speaker 1: I do a lot of polling at a project called

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Speaker 1: the America's New Majority, projecting forty five percent of the

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Speaker 1: voters now say we asked the question, with inflation and

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Speaker 1: higher prices, we're struggling to keep up and afford basic necessities.

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Speaker 1: Forty five percent of the voters last month said yes.

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Speaker 1: I mean that is a staggering impact on their lives

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Speaker 1: and their ability to go out for dinner or to

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Speaker 1: just go to the grocery store.

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Speaker 2: The incredible thing is these are the things that begin

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Speaker 2: to take the toll, that bring about the recession that

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Speaker 2: we're worried about. When people aren't able to go out

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Speaker 2: and spend. You have mom and pop companies, smaller companies,

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Speaker 2: small business. They become affected by this, and then it

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Speaker 2: affects the overall economy as well. And we're going to

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Speaker 2: be dealing with this with higher interest rates to where

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Speaker 2: some corporations can't go out and effectively refinance their bonds

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Speaker 2: because the rate is so high right now, so forty

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Speaker 2: five percent. If you look at that number, to say

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Speaker 2: that forty five percent of us are entering a level

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Speaker 2: where they can't keep up with their base technies, it

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Speaker 2: makes one begin to think, you know, a third world country,

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Speaker 2: and that's troublesome for me that we spend so much

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Speaker 2: money overseas and other things, but yet forty five percent

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Speaker 2: of the people are saying they're struggling. We need to

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Speaker 2: reevaluate what we're doing well.

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Speaker 1: And of course that gets us to the fight we're

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Speaker 1: having right now about paying for the government and whether

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Speaker 1: or not there be a government shutdown because Speaker McCarthy

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Speaker 1: in the House side has a very very narrow majority

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Speaker 1: and has a very hard time getting to two eighteen

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Speaker 1: because he only has a three or four vote margin.

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Speaker 1: They're at least trying to cut spending, which is what

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Speaker 1: the country says they want. The Senate, I think, is

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Speaker 1: just cheerfully saying, oh, can we just surrender, go ahead,

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Speaker 1: pass something, keep the government open, even if we spend

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Speaker 1: a lot more money, Who cares? It just seems to

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Speaker 1: me that that's totally out of touch with the daily

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Speaker 1: reality of most Americans now, where continued inflation is on

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Speaker 1: the verge of becoming a real disaster.

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Speaker 2: Continuing inflation is a real disaster, but also unlimited government

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Speaker 2: spending that's equally as bad, if not more so. And

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Speaker 2: I think that, like you said, we have Speaker McCarthy

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Speaker 2: trying his best. You know, no one wants a shutdown.

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Speaker 2: It doesn't benefit us as Americans now. Is it a

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Speaker 2: tool that needs to be pushed. Yes, there's issues that

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Speaker 2: need to be addressed. But if there was a way

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Speaker 2: to keep the government open and still find the means

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Speaker 2: necessary to bring the Senate in line, so they begin

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Speaker 2: to understand we want fiscal responsibility. It's not about yes, yes, yes,

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Speaker 2: we'll pay for it later. At some point we have

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Speaker 2: to take those reins and we have to tighten them.

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Speaker 2: And this is the problem, and this is a big

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Speaker 2: problem for Speaker McCarthy. How does he balance that. Obviously,

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Speaker 2: we want the vote right, we want to keep the

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Speaker 2: government open, but we need responsibility.

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Speaker 1: If you beeping up with the news lately, you know

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Speaker 1: that we're living in challenging economic times. Americans are suffering

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Speaker 1: from supply chain problems, soaring grocery prices, and high inflation.

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Speaker 1: All this economic turmoil means increased volatility in the stock market,

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Speaker 1: which can impact your retirement investments. Legacy Precious Metals is

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Speaker 1: dot com. Visit by Legacy goold dot com. I ran

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Speaker 1: across the headline that said the bond market has never

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Speaker 1: sounded recession alarms for this long and says that the

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Speaker 1: bond market has been warning about a recession longer than

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Speaker 1: any time in the last sixty years. I will plead

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Speaker 1: ignorance and ask you what does that mean.

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Speaker 2: It's an interesting statement, and it's not an easy one

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Speaker 2: to understand. Most people don't really get in depth with

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Speaker 2: the bond market, even though it is the largest market

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Speaker 2: that we have. It is massive in size compared to

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Speaker 2: even the equities market. But really what they're talking about

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Speaker 2: is the fact that if you look at treasure yields,

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Speaker 2: a three month yield as a better return than a

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Speaker 2: ten year yield, and that inversion is important, and the

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Speaker 2: length of time that has been inverted is very important.

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Speaker 2: They say sixty years. We're really talking about one of

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Speaker 2: the largest times in the US's history where people had

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Speaker 2: more faith in the next month than they do ten

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Speaker 2: years from now. Because that's what that signals. No one

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Speaker 2: wants to invest their money for the next ten years

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Speaker 2: at these rates. They don't feel safe, so they move

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Speaker 2: money into the three month yield, which means it's so

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Speaker 2: limited their faith in this government they're not willing to

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Speaker 2: give it more than a quarter at a time of

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Speaker 2: their investment money. And when you say that this has

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Speaker 2: been happening right for over two hundred and twelve days,

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Speaker 2: that's almost a year. It won't be that much longer

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Speaker 2: that it's an inversion factor of getting close to a year.

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Speaker 2: This means that we've been right all along when we've

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Speaker 2: talked new it. There's a problem here. There's a recession

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Speaker 2: coming because the economy can't stand with that much doubt.

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Speaker 2: When people know and money knows that the long term

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Speaker 2: outlook is worse than tomorrow's, you have problems. And this

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Speaker 2: is why you have Bloomberg and other things beginning to

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Speaker 2: talk more about precious metals as a protective asset, because

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Speaker 2: it's one of those things that steps in when you

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Speaker 2: see this kind of uncertainty. But more important than that,

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Speaker 2: we need to know that whatever we are invested in

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Speaker 2: it has the ability to withstand that test. Because the

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Speaker 2: general consensus and the money consensus is the future is

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Speaker 2: not as bright as tomorrow. The long term future. We

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Speaker 2: see consequences coming, and this is why we talk about

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Speaker 2: recessions and such so much because it's staring us in

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Speaker 2: the face. Whether regular people and mainstream media want to

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Speaker 2: address the situation, the bond market has shown it in

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Speaker 2: fact and in number.

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Speaker 1: So the bond market has started telling us that people

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Speaker 1: who are sophisticated are so nervous that they're charging more

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Speaker 1: to loan their money for shorter periods. I mean, is

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Speaker 1: that a way to put in that is correct normally?

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Speaker 1: That signals that there's a real problem coming. At the

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Speaker 1: same time, there's a book by Jeremy Siegel called Stocks

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Speaker 1: for the Long Run, which has been called the buy

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Speaker 1: and Hold Bible. You knew this one was coming because

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Speaker 1: it's a really good topic. Was first published back in

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Speaker 1: nineteen ninety four, and he's a professor of finance at

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Speaker 1: the Wharton School at the University of Pennsylvania. So it

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Speaker 1: takes a very long term view of the financial markets,

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Speaker 1: starting way back in eighteen oh two, and he argues

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Speaker 1: that stocks have returned and average of six point five

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Speaker 1: to seven percent per year after inflation over the last

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Speaker 1: two hundred years, that it was actually a compound rate

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Speaker 1: of return up through nineteen ninety one at about seven

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Speaker 1: point seven percent but that from nineteen twenty six to

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Speaker 1: the present the behavior of both long and short term

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Speaker 1: interest rates changed dramatically. During the Great Depression, short term

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Speaker 1: interest rates fell to nearly zero, and in October forty one,

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Speaker 1: the yield and the twenty year Treasury bond fell to

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Speaker 1: a record low of one point eight two percent of

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Speaker 1: that's loaning your money with a real faith in the future,

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Speaker 1: if you're willing to take one point eight two percent.

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Speaker 1: But during the war, the government obviously was borrowing huge

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Speaker 1: amounts of money. Gold prices soared to eight hundred and

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Speaker 1: fifty dollars an ounce by January of nineteen eighty they

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Speaker 1: were thirty five dollars announced in nineteen thirty two by law.

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Speaker 1: When inflation was brought under control, gold prices fell, but

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Speaker 1: they rose again after the two thousand and eight financial crisis,

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Speaker 1: when the flood of credit issued by central banks led

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Speaker 1: people to be afraid of inflation, and by the end

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Speaker 1: of twenty twelve, the price of gold reached sixteen hundred

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Speaker 1: and seventy five dollars per ounce, and a dollar a

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Speaker 1: gold bullion purchased in eighteen oh two was there at

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Speaker 1: eighty six forty while the price level itself had increased

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Speaker 1: by a factor of nineteen. So what is your take.

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Speaker 1: I mean, over time, how do you measure gold, silver,

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Speaker 1: and stock as places to invest in.

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Speaker 2: It's a great question. My philosophy has always been diversification.

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Speaker 2: I'm not telling anybody they shouldn't be in equities, but

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Speaker 2: equities aren't the only thing. You should be in precious metals.

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Speaker 2: That's another diversification. And when you look at those numbers,

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Speaker 2: you'll see that precious metals, gold and silver do the

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Speaker 2: job they're meant to do. When you see downturns in

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Speaker 2: the economy, metals move up. When you see interest rates

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Speaker 2: and inflation moving up, metals will move up because that's

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Speaker 2: what it's there to protect. If you look at all

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Speaker 2: the numbers, and this is one of the things that

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Speaker 2: equities people do very well. They like to cherry pick

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Speaker 2: the numbers that they talk about. But if you look

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Speaker 2: at equities over a longer period of time and you

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Speaker 2: look at metals, you'll see very similar returns. The big

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Speaker 2: difference is that metals are metals. When you talk about equities,

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Speaker 2: you're talking about specific equities that they choose to use

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Speaker 2: in those parameters. It doesn't use every equity there are

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Speaker 2: many times that you'll have a stock that was in

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Speaker 2: an index fall out of favor and get removed from

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Speaker 2: the indexed. Now, if you didn't take that out of

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Speaker 2: your portfolio, you didn't get the return of that portfolio.

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Speaker 2: Very few people get the return of the index when

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Speaker 2: they're investing in the equities market, whereas with precious metals

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Speaker 2: you get the return of the increase of the metal.

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Speaker 2: So there's an inherent difference. Again, not to say don't

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Speaker 2: do one, we say diversify. So in those years when

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Speaker 2: the market's doing well, you reap the benefit. When it's not,

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Speaker 2: you have the protection that you need. And that's the

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Speaker 2: important part because and the end of the day, we're

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Speaker 2: looking at protecting our purchasing power. When everyone retires, I

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Speaker 2: don't want to talk about so much, Oh I have

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Speaker 2: so many shares of this stock and that stock. They

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Speaker 2: want to talk about how they have to protected their livelihood.

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Speaker 2: They can do the things they want to do. You

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Speaker 2: can help the grand kids, you can take the trips

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Speaker 2: you wanted to do. You've worked hard. It's time to

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Speaker 2: benefit now. And that's where your precious metals come in.

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Speaker 2: They offer you that buffer, and they offer you that safety.

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Speaker 1: From that standpoint, you would look for people to recognize

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Speaker 1: that the world is volatile and that things will go

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Speaker 1: up and down, but that if you have a very

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Speaker 1: balanced approach that might include some bonds and some stock,

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Speaker 1: but would also include precious metals, that balance approach gives

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Speaker 1: you the best possible guarantee against a real downturn and

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Speaker 1: the best possible framework for a long term upside because

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Speaker 1: each of the three sort of balances off the others,

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Speaker 1: and between the three of them you get a kind

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Speaker 1: of stability. I mean, is that a reasonable way to

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Speaker 1: think of it.

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Speaker 2: That's the perfect way. That's the way that the regular

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Speaker 2: man says it instead of the long winded way that

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Speaker 2: I just said it. But that's exactly right.

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Speaker 1: Part of the reason I always like talking with you

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Speaker 1: is you have such a broad historic view of this

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Speaker 1: and you bring in the whole concept of precious metal

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Speaker 1: in a way that I think a lot of You know,

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Speaker 1: if you're a stock salesman, you have a pretty good

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Speaker 1: case you want to make for why people ought to

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Speaker 1: buy stock. If you're a bond salesman, you've got a

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Speaker 1: pretty good case for why people want to buy bonds,

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Speaker 1: Because that's where you get a commission on. Every time

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Speaker 1: we've talked, you've always talked about balance, and you've always

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Speaker 1: talked about having a commitment to think through what's the

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Speaker 1: right formula for you personally given your age and your

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Speaker 1: circumstance and your income. And I think it's that kind

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Speaker 1: of very balanced approach which makes me think that the

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Speaker 1: things you're doing at Legacy Precious Metals. By the way,

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Speaker 1: the information people can get by going to Legacy Precious Metals,

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Speaker 1: there are a lot of specific things about having precious

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Speaker 1: metals in terms of your IRA and other things that

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Speaker 1: are fascinating. You might want to just talk for a

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Speaker 1: second about if somebody listening has decided they want to

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Speaker 1: dive a little more into maybe spreading the risk and

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Speaker 1: ensuring more stability for their future, what are the sort

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Speaker 1: of things they should ask if they come to Precious Metals.

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Speaker 2: Great question, So right, each individual has specific needs and

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Speaker 2: the best thing that we can do here at Legacy

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Speaker 2: is address your needs. This is why we say give

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Speaker 2: us a call, let's talk over your situation and we

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Speaker 2: can help you decide. First thing, is metals even right

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Speaker 2: for you? Maybe it's not. Second, what is your parameter

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Speaker 2: of investment, what's your timeframe and how do we make

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Speaker 2: this work for you? We want to make the process

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Speaker 2: so easy that when we're done and we have this conversation,

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Speaker 2: you're going to have the ability to select the investments

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Speaker 2: that you want. Do you want coins? Do you want bars?

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Speaker 2: Are you rolling over part of a retirement account? Are

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Speaker 2: you buying medals just for delivery? Are you converting that

386
00:21:43,080 --> 00:21:45,520
Speaker 2: four oh one K you have to a precious metals iray?

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Speaker 2: These are all the things that are available to you,

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Speaker 2: and we want to walk you through that so that

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Speaker 2: when you make your decision, not only do we help

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Speaker 2: you get it done, we help you understand why it

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Speaker 2: was done, and we help you to understand the decisions

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Speaker 2: that you made, and that's important to us. You know,

393
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Speaker 2: one of the things that it's also important for us,

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Speaker 2: it's full transparency. Having real time pricing of where the

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00:22:07,000 --> 00:22:10,240
Speaker 2: medals are at now, calling and being able to find

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Speaker 2: out what the price is today, and if you're on

397
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Speaker 2: our platform, you know, looking and seeing exactly what the

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Speaker 2: price is. We do this because we want this to

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Speaker 2: be as simple and informative for each and every individual

400
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Speaker 2: that decides to buy metals. This is the way metal

401
00:22:25,800 --> 00:22:29,040
Speaker 2: purchasing should be giving you the information you need, being

402
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Speaker 2: fully transparent, very low transaction fees. And these times you're

403
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Speaker 2: going to hear stories of other companies that are charging

404
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Speaker 2: astronomical amounts of money for precious metals. We're not that company,

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Speaker 2: and when you call us, you'll see that, and it's

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Speaker 2: a big difference. I think it's important to know that,

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Speaker 2: even if you've called somebody else, spend the fifteen minutes,

408
00:22:50,880 --> 00:22:53,200
Speaker 2: give us a call so that you can see why

409
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Speaker 2: we're different and the information that you have. I think

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Speaker 2: it just opens every individual up to making the right decision,

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Speaker 2: to underst standing why we talk about this diversity so much.

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Speaker 1: One of the things that we've looked at and we

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Speaker 1: have encouraged everybody on our team at Gain, which three

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Speaker 1: sixties who have an IRA, the ability you have to

415
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Speaker 1: take your existing IRA and in a sense get diversity

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Speaker 1: within your current investment framework. Why going to part or

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Speaker 1: all of the IRA having a precious metals component? Can

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Speaker 1: you describe that? For second, apparently the law allows us

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Speaker 1: to literally take money we've already got to sitting there

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Speaker 1: in an IRA, in a sense hedge against inflation by

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Speaker 1: taking part of that and putting it into a precious

422
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Speaker 1: metals IRA exactly how does that work?

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Speaker 2: You are correct, and it's so important to address this too.

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Speaker 2: You've taken the time, and Indieville's taking the time to

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Speaker 2: think about the retirement as first and foremost. Congratulations. Some

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Speaker 2: people aren't doing that, but if you have, you want

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Speaker 2: to understand that you're not limited no matter what your

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Speaker 2: broker may tell you right now. When the IRA rule

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00:23:58,640 --> 00:24:01,880
Speaker 2: is first established in nineteen eighty six or it really

430
00:24:01,960 --> 00:24:05,840
Speaker 2: became popular to fund retirement accounts, precious metals were always

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00:24:05,880 --> 00:24:09,080
Speaker 2: allowed as part of that process. It just wasn't talked

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Speaker 2: about as much because everyone was thinking equities and brokerage

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00:24:12,920 --> 00:24:15,440
Speaker 2: firms came out and they were promoting this new retirement

434
00:24:15,480 --> 00:24:18,440
Speaker 2: account that people didn't understand, and that's where the money

435
00:24:18,440 --> 00:24:21,280
Speaker 2: flowed because they spent the time talking about it. But

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Speaker 2: it's important to understand that that retirement account is probably

437
00:24:25,160 --> 00:24:27,760
Speaker 2: one of the largest things that you've vested beside your

438
00:24:27,840 --> 00:24:31,720
Speaker 2: home for your retirement, so you want to have the

439
00:24:31,800 --> 00:24:35,359
Speaker 2: ability to protect that as well. I would say that

440
00:24:35,520 --> 00:24:39,760
Speaker 2: retirement account is probably more important than the cash account

441
00:24:39,800 --> 00:24:43,520
Speaker 2: you may have because that retirement account was established specifically

442
00:24:44,520 --> 00:24:48,240
Speaker 2: to fund your livelihood. When you decided to quit working,

443
00:24:48,720 --> 00:24:51,560
Speaker 2: when you remove the ability to pay your day to

444
00:24:51,680 --> 00:24:55,480
Speaker 2: day bills and pay for your monthly expenses, you said,

445
00:24:55,560 --> 00:24:59,280
Speaker 2: this money is going to be there until I pass

446
00:24:59,359 --> 00:25:03,240
Speaker 2: it on to my children or my grandchildren. To me,

447
00:25:03,760 --> 00:25:06,479
Speaker 2: that's a much more important process and a much more

448
00:25:06,520 --> 00:25:10,440
Speaker 2: important vehicle to make sure is diversified because it will

449
00:25:10,520 --> 00:25:13,800
Speaker 2: go a longer period of time. Some my iras get

450
00:25:13,840 --> 00:25:17,159
Speaker 2: passed down from generation to generation, so it's not just

451
00:25:17,280 --> 00:25:19,760
Speaker 2: your livelihood, but if you're looking at your grandkids and

452
00:25:19,800 --> 00:25:21,960
Speaker 2: how they're going to get to college or how they're

453
00:25:22,000 --> 00:25:24,000
Speaker 2: going to have funds, this is what that IRA can

454
00:25:24,080 --> 00:25:26,679
Speaker 2: do for you. So you want it to have something

455
00:25:26,760 --> 00:25:29,080
Speaker 2: that has legs, that has the ability to stand that

456
00:25:29,200 --> 00:25:31,520
Speaker 2: test of time that we don't see from many of

457
00:25:31,560 --> 00:25:32,720
Speaker 2: the other investment vehicles.

458
00:25:32,800 --> 00:25:44,840
Speaker 1: Right now, if you've been keeping up with the news lately,

459
00:25:45,240 --> 00:25:48,679
Speaker 1: you know that we're living in challenging economic times. Americans

460
00:25:48,720 --> 00:25:52,639
Speaker 1: are suffering from supply chain problems, soaring grocery prices, and

461
00:25:52,800 --> 00:25:57,680
Speaker 1: high inflation. All this economic turmoil means increased volatility in

462
00:25:57,760 --> 00:26:02,040
Speaker 1: the stock market, which can impact your determent investments. Legacy

463
00:26:02,119 --> 00:26:05,639
Speaker 1: precious medals is the company I use when investing in

464
00:26:05,720 --> 00:26:09,520
Speaker 1: gold and gold iras. A gold ira has the same

465
00:26:09,720 --> 00:26:13,440
Speaker 1: tax advantage of a traditional ira will giving you protection

466
00:26:13,880 --> 00:26:18,120
Speaker 1: by owning physical gold. Legacy Precious Medals believes that your

467
00:26:18,200 --> 00:26:21,959
Speaker 1: financial security should never be left to chance. Learn how

468
00:26:22,000 --> 00:26:25,240
Speaker 1: to protect your wealth and secure your financial future with gold.

469
00:26:25,800 --> 00:26:28,399
Speaker 1: Whether it becomes part of your retirement account or the

470
00:26:28,480 --> 00:26:31,440
Speaker 1: physical medals are shipped to you, Legacy can advise you

471
00:26:31,560 --> 00:26:34,359
Speaker 1: on how to invest. Give their experts a call today

472
00:26:34,800 --> 00:26:38,880
Speaker 1: at eight sixty six four eight four four oh four three.

473
00:26:39,400 --> 00:26:43,399
Speaker 1: That's eight sixty six four eight four four o four

474
00:26:43,440 --> 00:26:47,720
Speaker 1: to three, or download their comprehensive gold guide at buy

475
00:26:47,960 --> 00:26:56,720
Speaker 1: Legacy goold dot com. Visit buy legacygold dot com. So,

476
00:26:56,960 --> 00:26:59,760
Speaker 1: if people having listened to us today, if they're kind

477
00:26:59,760 --> 00:27:02,600
Speaker 1: of intrigued with this and curious, is there a way

478
00:27:02,640 --> 00:27:06,040
Speaker 1: that they can reach Legacy Precious Metals to ask these

479
00:27:06,119 --> 00:27:06,840
Speaker 1: kinds of questions?

480
00:27:07,480 --> 00:27:09,560
Speaker 2: Absolutely, you know. One of the best ways to do

481
00:27:09,640 --> 00:27:11,840
Speaker 2: it is if you have questions and you have a minute,

482
00:27:12,160 --> 00:27:14,160
Speaker 2: give us a call. The phone number is eight six

483
00:27:14,200 --> 00:27:17,480
Speaker 2: y six four eight four four zero four to three.

484
00:27:18,240 --> 00:27:21,639
Speaker 2: If you do call, when we answer the phone, make

485
00:27:21,680 --> 00:27:23,720
Speaker 2: sure you mentioned that you heard us from Newt that's

486
00:27:23,760 --> 00:27:26,400
Speaker 2: important to us. We love to support Newton. We want

487
00:27:26,440 --> 00:27:29,440
Speaker 2: to make sure that everyone who's listening gets the services

488
00:27:29,480 --> 00:27:30,760
Speaker 2: that he need, and we want to be able to

489
00:27:30,800 --> 00:27:32,920
Speaker 2: tell new that we're helping people. That's why he does

490
00:27:33,000 --> 00:27:35,440
Speaker 2: this as well. So you can reach us on the phone.

491
00:27:35,480 --> 00:27:37,919
Speaker 2: You can reach us on our website. There's a brochure

492
00:27:38,000 --> 00:27:41,000
Speaker 2: you can get great reading. But again, even when you

493
00:27:41,080 --> 00:27:43,520
Speaker 2: get that brochure, when you go through it, you're going

494
00:27:43,560 --> 00:27:47,440
Speaker 2: to have questions. That's normal. Reach out to us, spend

495
00:27:47,520 --> 00:27:49,359
Speaker 2: some time with one of our account executives here and

496
00:27:49,400 --> 00:27:51,480
Speaker 2: they're going to walk you through the process so that

497
00:27:51,560 --> 00:27:54,359
Speaker 2: you understand what it is, what we're trying to accomplish,

498
00:27:54,359 --> 00:27:55,159
Speaker 2: and if it's right for you.

499
00:27:55,800 --> 00:27:58,680
Speaker 1: Just to remind everyone, the number is eight six six

500
00:28:00,240 --> 00:28:03,840
Speaker 1: eight four four to zho four to three, and they're

501
00:28:04,240 --> 00:28:06,360
Speaker 1: very happy for you to call and get educated. They'll

502
00:28:06,400 --> 00:28:09,760
Speaker 1: send you materials. There's no obligation on your part. This

503
00:28:09,920 --> 00:28:11,920
Speaker 1: is a great chance to learn and one of the

504
00:28:12,000 --> 00:28:16,440
Speaker 1: reasons I think that Charles created Legacy Precious Metals was

505
00:28:16,520 --> 00:28:19,159
Speaker 1: to try to educate people and put the power in

506
00:28:19,320 --> 00:28:23,239
Speaker 1: your hands for you to make an informed decision. Now

507
00:28:23,359 --> 00:28:26,560
Speaker 1: this next thing I've never done before. I'm really intrigued

508
00:28:26,600 --> 00:28:29,119
Speaker 1: with this and we have some very exciting news to

509
00:28:29,200 --> 00:28:32,320
Speaker 1: announce today. Charles, why do you share with our listeners

510
00:28:32,760 --> 00:28:35,399
Speaker 1: about this project that we've been collaborating on, which I

511
00:28:35,480 --> 00:28:37,760
Speaker 1: have to tell you I think is just great fun.

512
00:28:38,680 --> 00:28:41,040
Speaker 2: I would love to. Through the course of time that

513
00:28:41,120 --> 00:28:43,800
Speaker 2: we've been chatting, I've always said there's some more we

514
00:28:43,880 --> 00:28:47,160
Speaker 2: can do, and in helping people, we wanted to not

515
00:28:47,320 --> 00:28:49,280
Speaker 2: just help them with their medals, but also honor the

516
00:28:49,320 --> 00:28:52,200
Speaker 2: people who care about their livelihood and who care about

517
00:28:52,200 --> 00:28:55,440
Speaker 2: America and have done such an amazing life work of

518
00:28:55,560 --> 00:28:58,880
Speaker 2: doing it. So we were talking with the speaker and

519
00:28:59,000 --> 00:29:01,840
Speaker 2: we said, you know what we should do. We should

520
00:29:02,920 --> 00:29:06,280
Speaker 2: make a silver coin with you on it. Let's honor

521
00:29:06,360 --> 00:29:11,000
Speaker 2: somebody who spent his entire life in service of American people.

522
00:29:11,760 --> 00:29:13,960
Speaker 2: So that's what we did. We created the Contract with

523
00:29:14,040 --> 00:29:17,800
Speaker 2: America theme silver coin. It's an amazing coin, ninety nine

524
00:29:17,800 --> 00:29:20,880
Speaker 2: point nine to nine percent silver. We have the image

525
00:29:20,920 --> 00:29:22,760
Speaker 2: of a newt on it. We have some of the

526
00:29:22,840 --> 00:29:25,400
Speaker 2: tenets of the Contract with America on the back of it.

527
00:29:26,080 --> 00:29:28,800
Speaker 2: And what it does. It gives us the ability to

528
00:29:30,200 --> 00:29:34,080
Speaker 2: make an investment in something, but also honor someone. And

529
00:29:34,560 --> 00:29:37,840
Speaker 2: I know that the speaker is a little modest, but

530
00:29:38,240 --> 00:29:41,160
Speaker 2: he deserves to be honored the life work that he's

531
00:29:41,240 --> 00:29:43,040
Speaker 2: had and the work that he's done for us as

532
00:29:43,080 --> 00:29:45,600
Speaker 2: American people. We should honor that, and that's what we

533
00:29:45,720 --> 00:29:48,840
Speaker 2: want to do. But also it gives us the opportunity

534
00:29:48,880 --> 00:29:50,600
Speaker 2: for those of you who are like me and you

535
00:29:50,720 --> 00:29:53,520
Speaker 2: purchase metals. Gives me the ability to pass it on

536
00:29:53,640 --> 00:29:57,240
Speaker 2: to my children and have that conversation. Let's talk about

537
00:29:57,240 --> 00:30:01,360
Speaker 2: what happened. Let's talk about how if you dedicated and

538
00:30:01,520 --> 00:30:04,280
Speaker 2: you have conviction and you care, you can change the

539
00:30:04,360 --> 00:30:06,800
Speaker 2: course of America. You can make America a better place.

540
00:30:06,840 --> 00:30:08,920
Speaker 2: And I think for me, that's one of the great

541
00:30:08,960 --> 00:30:11,560
Speaker 2: reasons that we really wanted to do this coin was

542
00:30:11,840 --> 00:30:15,080
Speaker 2: so that we could commemorate the life work and the

543
00:30:15,160 --> 00:30:18,040
Speaker 2: effort and one of amazing benefits we've had from that

544
00:30:18,120 --> 00:30:22,480
Speaker 2: life work. So we did create the new Gingrich Contract

545
00:30:22,520 --> 00:30:25,240
Speaker 2: with America Themes silver coin, and I have.

546
00:30:25,320 --> 00:30:27,560
Speaker 1: To confess I was skeptical when this first came up,

547
00:30:27,640 --> 00:30:32,040
Speaker 1: but the folks who designed this coin did an amazing job.

548
00:30:32,440 --> 00:30:35,800
Speaker 1: It really does have a real relationship back to the

549
00:30:35,880 --> 00:30:38,280
Speaker 1: contract with America, So that's on one side of the coin,

550
00:30:38,840 --> 00:30:43,480
Speaker 1: and then basically a silver version of my official portrait

551
00:30:43,560 --> 00:30:45,680
Speaker 1: that hangs in the capitals the other side of the coin.

552
00:30:46,280 --> 00:30:48,920
Speaker 1: It came out, I was amazed. You know, my mother

553
00:30:48,960 --> 00:30:51,400
Speaker 1: would be so happy to have something like this, So

554
00:30:52,000 --> 00:30:55,440
Speaker 1: I really appreciate, first of all, the very fact that

555
00:30:55,600 --> 00:30:59,000
Speaker 1: you would be willing, Charles to do something like this

556
00:30:59,120 --> 00:31:02,680
Speaker 1: as extraordinary. It's something that we're going to treasure. The

557
00:31:02,760 --> 00:31:06,520
Speaker 1: coin will be available for pre orders starting next Friday

558
00:31:07,080 --> 00:31:12,720
Speaker 1: at Newt gingingrichsilvercoin dot com. That's Newt gingrichsilvercoin dot com.

559
00:31:13,320 --> 00:31:15,880
Speaker 1: And as I said, I was blown away when I

560
00:31:16,080 --> 00:31:18,400
Speaker 1: saw what they did at the Mint. It is really

561
00:31:18,480 --> 00:31:21,960
Speaker 1: going to be remarkable, and I'm just personally so grateful

562
00:31:21,960 --> 00:31:24,720
Speaker 1: to you, Charles, for thinking up something like this and

563
00:31:24,840 --> 00:31:28,000
Speaker 1: for making it historic in a way that I would

564
00:31:28,040 --> 00:31:29,120
Speaker 1: personally never have dreamed of.

565
00:31:29,920 --> 00:31:30,760
Speaker 2: It was our pleasure.

566
00:31:31,200 --> 00:31:33,560
Speaker 1: I want to thank you for helping create the coin.

567
00:31:33,880 --> 00:31:36,840
Speaker 1: I want to thank you for the educational conversation we

568
00:31:36,960 --> 00:31:39,520
Speaker 1: try to have once a quarter. I think that anybody

569
00:31:39,560 --> 00:31:42,840
Speaker 1: who's been listening to us has a much better understanding

570
00:31:42,920 --> 00:31:45,160
Speaker 1: over the last couple of years of what's going on

571
00:31:45,760 --> 00:31:49,480
Speaker 1: this is a very complicated and rapidly evolving economic environment.

572
00:31:50,080 --> 00:31:53,880
Speaker 1: I think that having a diverse portfolio really matters, including

573
00:31:54,000 --> 00:31:56,360
Speaker 1: precious metals like gold and silver. And I want to

574
00:31:56,400 --> 00:31:59,920
Speaker 1: remind our listeners if they want more information, they can

575
00:32:00,000 --> 00:32:04,200
Speaker 1: call Charles and his team at Legacy Precious Medals directly

576
00:32:04,640 --> 00:32:08,320
Speaker 1: at eight sixty six four eight four four oh four three.

577
00:32:08,920 --> 00:32:13,440
Speaker 1: That's eight sixty six four eight four four oh four three,

578
00:32:13,720 --> 00:32:18,320
Speaker 1: or they can visit by Legacygold dot com, slash newt

579
00:32:18,400 --> 00:32:20,560
Speaker 1: and Charles. I is from to thank you for taking

580
00:32:20,600 --> 00:32:23,080
Speaker 1: the time once again to help educate us about this

581
00:32:23,280 --> 00:32:24,600
Speaker 1: rapidly evolving economy.

582
00:32:25,080 --> 00:32:27,040
Speaker 2: It's actually my pleasure, thank you for the time.

583
00:32:29,360 --> 00:32:31,960
Speaker 1: Thank you to my guest, Charles Thorngram. You can learn

584
00:32:32,040 --> 00:32:36,080
Speaker 1: more about Legacy Precious Medals at buy Legacygold dot com

585
00:32:36,560 --> 00:32:41,120
Speaker 1: slash NEWT. Newsworld is produced by Gainglishtree sixty and iHeartMedia.

586
00:32:41,520 --> 00:32:45,840
Speaker 1: Our executive producer is Guarnsey Sloan and our researcher is

587
00:32:45,960 --> 00:32:49,440
Speaker 1: Rachel Peterson. The artwork for the show was created by

588
00:32:49,520 --> 00:32:53,560
Speaker 1: Steve Penley. Special thanks to the team at Gingwishtree sixty.

589
00:32:54,120 --> 00:32:56,560
Speaker 1: If you've been enjoying Newtsworld, I hope you'll go to

590
00:32:56,600 --> 00:33:00,080
Speaker 1: Apple Podcast and both rate us with five stars and

591
00:33:00,200 --> 00:33:02,880
Speaker 1: give us a review so others can learn what it's

592
00:33:02,880 --> 00:33:07,000
Speaker 1: all about. Right now, listeners of neut World can sign

593
00:33:07,120 --> 00:33:11,320
Speaker 1: up for my three freeweekly columns at gingrishtree sixty dot

594
00:33:11,400 --> 00:33:16,120
Speaker 1: com slash newsletter. I'm Newt Gingrich. This is neut World.

595
00:33:16,920 --> 00:33:19,120
Speaker 1: This episode of Newts World was brought to you by

596
00:33:19,280 --> 00:33:20,560
Speaker 1: Legacy Precious Metals