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Speaker 1: You know, with the stock markets volatility over the last year,

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Speaker 1: I know many of us are wondering what's best for

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Speaker 1: our financial portfolios. And joining me is Charles Thorne, founder

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Speaker 1: and CEO of Legacy Precious Medals. He has been advising

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Speaker 1: people on their personal finances and investments for over twenty

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Speaker 1: five years, and given all of the stock market volatility,

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Speaker 1: with some big ups and downs the market, I thought

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Speaker 1: this was a good time to sort of pick Charles's

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Speaker 1: brain and get his advice. So how do you see

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Speaker 1: the way the market's evolving? Charles, great to be here,

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Speaker 1: Newton and yeah, interesting, the markets really are reacting almost

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Speaker 1: the way that they should if you really consider what's

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Speaker 1: going on. We should expect this pullback. Inflation being what

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Speaker 1: it is, the markets being told we're going to ease

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Speaker 1: up on all that free money we've been giving you

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Speaker 1: for almost a decade. Now you have to have some reaction,

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Speaker 1: and this is where we expect to see it. So

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Speaker 1: when we look and we say, okay, the NASTAC one

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Speaker 1: hundreds down thirty three percent, it makes sense, but I

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Speaker 1: would say it's not done yet. Cryptocurrencies, that's kind of

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Speaker 1: a disaster, and it's been very painful for a lot

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Speaker 1: of people. Sixty percent of its value. Now, with a

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Speaker 1: risky asset like that, it's not surprising it does go

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Speaker 1: up tremendously and it falls tremendously. But I think the

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Speaker 1: one that hurts the most is when the Dow Jones

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Speaker 1: Industrial average is down twenty percent. To me, that's your

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Speaker 1: safe money, right, That's where your retirement typically lives in

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Speaker 1: the Dow Jones stocks. So that's painful and that has ramifications.

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Speaker 1: But unfortunately, I don't think we're done yet. I think

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Speaker 1: we see more. So when you say we see more,

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Speaker 1: you mean you're like that. I have more interest rate

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Speaker 1: increases by the FED, more pressure on the economy, and

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Speaker 1: therefore more volatility in the stock market. Absolutely, absolutely, the

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Speaker 1: Fed is not done it. We heard that directly from

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Speaker 1: Chairman Powell himself. This is going to be a long

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Speaker 1: term situation. He's already said that expect rates to be

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Speaker 1: high longer than you think, so we know that's coming.

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Speaker 1: I have to say I was surprised the other day

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Speaker 1: when he said flatly he thinks he's got to get

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Speaker 1: unemployment up to six percent to be able to stop

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Speaker 1: the inflation. Well, that would be about double the unemployment rate.

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Speaker 1: It occurred to me, you know, he's not offering to

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Speaker 1: give up his job, but he's telling you he may

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Speaker 1: kill your job. I thought it was a daring thing

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Speaker 1: for him to say, and it is. It also goes

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Speaker 1: to show you that he knows he can't control this

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Speaker 1: scenario in the format that he has right now. Just

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Speaker 1: raising rates is not going to fix this problem. But

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Speaker 1: massive unemployment isn't a great solution either, because that takes

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Speaker 1: us to an area where we start looking at stagflation,

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Speaker 1: which is far worse than inflation. So it seems to

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Speaker 1: me that when you have this level of volatility that

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Speaker 1: it makes it even more important to try to find

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Speaker 1: safety through diversification. Can you talk a little bit about

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Speaker 1: how the average person going to think about their investment

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Speaker 1: portfolio and the idea that they ought to make sure

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Speaker 1: they're diversified enough the no one sector can wipe their

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Speaker 1: retirement Yours absolutely, and that is really the fundamental right

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Speaker 1: to investment for a retirement. You want to be diversified.

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Speaker 1: We hear that all the time, but then when you

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Speaker 1: listen to your big investment firms, they think diversification means

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Speaker 1: just different stocks, But it's more than that it's having

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Speaker 1: different asset classes. Typically I'd be saying, hey, you need

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Speaker 1: to have precious metals, you need to have a bond portfolio,

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Speaker 1: you need to have a stock portfolio, and possibly from

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Speaker 1: real estate, that is the ultimate portfolio going forward. Now

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Speaker 1: we have a unique situation right now, we know that

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Speaker 1: the bond market, it's too soon to jump in, is

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Speaker 1: interest rates go up. The bond portfolio you have loses

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Speaker 1: principal value because of the way the yield curve is established,

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Speaker 1: so that puts bonds in trouble. We know the stock

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Speaker 1: markets in trouble. We see that we're being promised more

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Speaker 1: to come, and real estate is becoming a risky investment too.

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Speaker 1: So when these times you have to look and say,

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Speaker 1: I know that I want to have multiple buckets of investment,

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Speaker 1: let me focus on the one that has the best

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Speaker 1: potential right now, and that would be your precious metals.

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Speaker 1: As things begin to smooth out in years, you start

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Speaker 1: to diversify more. But diversification is always going to be

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Speaker 1: the key true diversification. So when you talk about precious metals,

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Speaker 1: you're really largely talk about gold and silver, right correct,

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Speaker 1: That's where you get that protection from and as I

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Speaker 1: understand it, you can both have physical possession. That is,

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Speaker 1: you could have gold and silver and safe at home

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Speaker 1: or in a bank, or you can have a gold IRA,

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Speaker 1: which is a right to claim the gold, but you

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Speaker 1: don't have to worry about protecting it yourself. Can you

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Speaker 1: talk about the difference between those two. Absolutely, gold that

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Speaker 1: you deliver to the person that they have in hand.

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Speaker 1: That's fantastic, and that's what most people think about, right,

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Speaker 1: And it's great. You can have it stored for you,

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Speaker 1: but it's not encumbered by a retirement account. It's freely

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Speaker 1: owned by you. Now, when I say that, it's not

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Speaker 1: that gold in your retirement account isn't yours. It's yours,

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Speaker 1: but it's yours based in that retirement account. Much like

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Speaker 1: when you have stocks in your retirement account, you can't

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Speaker 1: just take possession of those stocks and put them in

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Speaker 1: another portfolio. They have to stay within the parameter of

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Speaker 1: that IRA. But you can do that with gold also.

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Speaker 1: And the great thing is once you do that, that

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Speaker 1: metal that you have is yours. It's physical metal. It's

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Speaker 1: stored for you in a depository, but it's stored in

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Speaker 1: your IRA's name. It's not your personal name. Yet because

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Speaker 1: obviously the government in the IRS, they're going to want

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Speaker 1: to take their taxes as you take that money out,

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Speaker 1: so they hold it for you. But it is physical

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Speaker 1: and it is yours, and you can, when you are

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Speaker 1: ready to retire, take it either as the gold itself,

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Speaker 1: or you can sell it and take it as dollars.

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Speaker 1: It's your choice. That's one of the great things about it. Now,

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Speaker 1: when you've found a Legacy Precious Metals, you really want

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Speaker 1: it to be a different kind of company as it

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Speaker 1: relates to potential investors. Could you walk through why is

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Speaker 1: Legacy Precious Metals different? Absolutely, we're different from the foundation

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Speaker 1: point of who we are right. We created this company

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Speaker 1: not to just sell some gold and silver. We created

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Speaker 1: this company to educate people, to show them the options

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Speaker 1: that they had on an asset where people know about

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Speaker 1: it but don't really think about it. So we wanted

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Speaker 1: to set up a place where people can come ask questions,

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Speaker 1: get the information they need so that they can effectively

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Speaker 1: determine what's right for them. I often say that my

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Speaker 1: company is a customer service company. We happen to sell

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Speaker 1: gold and silver, but our main product is customers. It's

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Speaker 1: people understanding what options they have. That's my true product

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Speaker 1: and informed America where people can make the best decisions

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Speaker 1: for them, because ultimately, if we can get people to

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Speaker 1: realize there's a problem and show them solution, we do

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Speaker 1: an amazing thing. We remove the fear that they have

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Speaker 1: about their retirement, about their investments, and at ultimately is

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Speaker 1: the best thing. Great investment security, but not having that

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Speaker 1: fear about how they're invested really is an important part

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Speaker 1: of the process. I really appreciate the way you've approached this,

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Speaker 1: the way you think about it. Charles. Once again, I

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Speaker 1: want to thank you for your insights. I look forward

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Speaker 1: as the economy continues to evolve, we're going to ask

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Speaker 1: you to come back again and share us even more.

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Speaker 1: But for the moment, I want to let our listeners

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Speaker 1: know if they'd like more information, you can actually call

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Speaker 1: Charles and his team at Legacy Precious Medals directly at

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Speaker 1: eight six six four eight four four O four three.

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Speaker 1: You literally have a chance to talk personally with Charles

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Speaker 1: and his team at Legacy Precious Medals. Just call eight

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Speaker 1: six six four eight four four O four three, and

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Speaker 1: you can visit online at by Legacy goold dot com,

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Speaker 1: slash newt that's Hi, Legacygold dot com, slash newt to

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Speaker 1: find out more and to get a free investment guide

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Speaker 1: and Charles, thank you again for sharing these insights with us.

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Speaker 1: As always, it's my pleasure and thank you