1 00:00:00,040 --> 00:00:03,520 Speaker 1: The revolution in investing is here. With Legacy Precious Metals 2 00:00:03,560 --> 00:00:08,200 Speaker 1: new online platform, you can invest in gold and silver anytime, anywhere, 3 00:00:08,760 --> 00:00:11,159 Speaker 1: choose your amounts, have them stored in a vault or 4 00:00:11,280 --> 00:00:14,240 Speaker 1: shipped to you, and track your growth in real time. 5 00:00:14,640 --> 00:00:17,880 Speaker 1: And with inflation impacting the cost of living and volatility 6 00:00:17,880 --> 00:00:20,360 Speaker 1: in the stock market, there has never been a better 7 00:00:20,400 --> 00:00:22,799 Speaker 1: time to invest in gold and silver. That's why I 8 00:00:22,920 --> 00:00:26,480 Speaker 1: invest with Legacy Precious Metals. Sign up for your free 9 00:00:26,480 --> 00:00:31,600 Speaker 1: account online today at buy Legacygold dot com. That's by 10 00:00:32,040 --> 00:00:40,040 Speaker 1: Legacy goold dot com. On this episode of Newsworld, when 11 00:00:40,080 --> 00:00:44,080 Speaker 1: Silicon Valley Bank was taken over by federal regulators last Friday, 12 00:00:44,240 --> 00:00:46,720 Speaker 1: it was the largest US bank failure since the two 13 00:00:46,800 --> 00:00:50,000 Speaker 1: thousand and eight financial crisis. There were a combination of 14 00:00:50,080 --> 00:00:55,400 Speaker 1: factors that brought the bank under FDIC control. Then Signature Bank, 15 00:00:55,680 --> 00:00:59,000 Speaker 1: a New York financial institution with a large real estate 16 00:00:59,080 --> 00:01:02,279 Speaker 1: lending business that had recently made a play to win 17 00:01:02,360 --> 00:01:07,400 Speaker 1: cryptocurrency deposits, closed Itch stores abruptly on Sunday after regulators 18 00:01:07,400 --> 00:01:10,759 Speaker 1: said that keeping the bank open could threaten the stability 19 00:01:11,040 --> 00:01:15,039 Speaker 1: of the entire financial system. The challenges these small and 20 00:01:15,080 --> 00:01:18,880 Speaker 1: midsized banks face is focusing on niche lines of business 21 00:01:18,920 --> 00:01:22,640 Speaker 1: with a narrow customer base, which leads them especially vulnerable 22 00:01:22,880 --> 00:01:26,160 Speaker 1: to a run on the bank scenario. And today we're 23 00:01:26,160 --> 00:01:28,880 Speaker 1: going to talk about these bank failures, the impact on 24 00:01:28,920 --> 00:01:32,479 Speaker 1: the stock market, and why it's so important to diversify 25 00:01:32,520 --> 00:01:35,560 Speaker 1: your investments. So I'm really pleased to welcome back my 26 00:01:35,600 --> 00:01:39,920 Speaker 1: guest and good friend, Charles Thornbrun, Founder and CEO of 27 00:01:40,080 --> 00:01:52,080 Speaker 1: Legacy Precious Metals. Charles, welcome, Thank you for joining me 28 00:01:52,120 --> 00:01:54,840 Speaker 1: again on news World. Thanks for having me nude, happy 29 00:01:54,880 --> 00:01:57,840 Speaker 1: to be here. What a perfect time for us to 30 00:01:57,880 --> 00:02:00,800 Speaker 1: be having this conversation. You know, quite a week for 31 00:02:00,840 --> 00:02:04,560 Speaker 1: the banking industry and for concerned investors. I thought we 32 00:02:04,600 --> 00:02:06,560 Speaker 1: had to start by talking about each of the banking 33 00:02:06,560 --> 00:02:09,720 Speaker 1: collapses because they're very different. So let's start with the 34 00:02:10,480 --> 00:02:14,200 Speaker 1: Silicon Valley Bank failure in Santa Clara, California. Can you 35 00:02:14,240 --> 00:02:16,640 Speaker 1: walk us through what happened and why did they close? 36 00:02:17,320 --> 00:02:20,560 Speaker 1: The big issue with the Silicon Valley Bank and being 37 00:02:20,600 --> 00:02:24,240 Speaker 1: shut down by regulators, It really came down to a 38 00:02:24,360 --> 00:02:29,000 Speaker 1: situation where the capital reserves weren't there. You have a 39 00:02:29,040 --> 00:02:32,480 Speaker 1: facility which was again a niche bank that was dealing 40 00:02:32,480 --> 00:02:37,040 Speaker 1: with startups and a lot of crypto transactions. So you 41 00:02:37,160 --> 00:02:41,680 Speaker 1: have such a niche situation because startups, as we know, 42 00:02:42,080 --> 00:02:47,440 Speaker 1: don't typically generate profits, right, So the investments there are 43 00:02:47,480 --> 00:02:49,520 Speaker 1: investments that need to be made for the long term 44 00:02:50,480 --> 00:02:54,960 Speaker 1: while they await the ability to generate profitability. So you 45 00:02:55,080 --> 00:02:58,680 Speaker 1: have a lot of great technology that will eventually become 46 00:02:58,760 --> 00:03:01,880 Speaker 1: quite profitable, but how do we service them until they 47 00:03:01,880 --> 00:03:05,680 Speaker 1: get there? That and then also the crypto markets as well, 48 00:03:06,200 --> 00:03:10,080 Speaker 1: So it being a banking service to almost half of 49 00:03:10,120 --> 00:03:14,840 Speaker 1: all the venture capital back technology, life science firms, and 50 00:03:14,960 --> 00:03:18,920 Speaker 1: over twenty five hundred venture capital firms. It's unique in 51 00:03:18,960 --> 00:03:22,560 Speaker 1: that aspect, so it has to be managed with that 52 00:03:22,639 --> 00:03:27,280 Speaker 1: in mind. You get a company like that with all 53 00:03:27,320 --> 00:03:29,280 Speaker 1: that cash from the startups, it gets a lot of 54 00:03:29,280 --> 00:03:33,720 Speaker 1: initial cash, but as a bank it keeps a very 55 00:03:33,760 --> 00:03:38,840 Speaker 1: small amount of those reserves in cash. They're using that 56 00:03:38,920 --> 00:03:43,680 Speaker 1: to invest and what they do outside of technology and 57 00:03:43,840 --> 00:03:49,200 Speaker 1: the creation of new technology and crypto related assets. They'd 58 00:03:49,240 --> 00:03:51,480 Speaker 1: like to manage it like a regular bank, So they 59 00:03:51,520 --> 00:03:56,480 Speaker 1: buy long term debt like US Treasury bonds, and those 60 00:03:56,480 --> 00:03:59,600 Speaker 1: are great, they're steady. They give a modest return, but 61 00:03:59,720 --> 00:04:04,080 Speaker 1: that's only effective when interstlates are low. The bank didn't 62 00:04:04,080 --> 00:04:06,640 Speaker 1: have the foresight or didn't listen to you, Knut, when 63 00:04:06,680 --> 00:04:09,200 Speaker 1: we were talking about, you know, interest rates going up. 64 00:04:09,280 --> 00:04:11,920 Speaker 1: They didn't have the foresight to step out of the 65 00:04:12,040 --> 00:04:14,520 Speaker 1: regular world that they're used to dealing in and look 66 00:04:14,560 --> 00:04:18,640 Speaker 1: at things outside of it to realize that with what's 67 00:04:18,640 --> 00:04:22,679 Speaker 1: happening in the economy, with inflation, it puts them at risk. 68 00:04:23,520 --> 00:04:27,680 Speaker 1: And that really is the key basis. So when you 69 00:04:27,760 --> 00:04:33,240 Speaker 1: have your crypto investor, who most crypto investors have had 70 00:04:33,279 --> 00:04:36,880 Speaker 1: any success, you have deposits in that bank over the 71 00:04:36,880 --> 00:04:39,840 Speaker 1: two hundred and fifty thousand dollars mark, they begin to 72 00:04:39,880 --> 00:04:42,599 Speaker 1: get worried. They run on the bank. They want to 73 00:04:42,600 --> 00:04:45,440 Speaker 1: make sure that they get their money before anything happens. 74 00:04:46,000 --> 00:04:48,560 Speaker 1: So when you have that, and you had a company 75 00:04:48,560 --> 00:04:51,800 Speaker 1: that had all that pandemic money and they did what 76 00:04:51,880 --> 00:04:55,279 Speaker 1: banks typically do, They put it in those long term bonds, 77 00:04:55,760 --> 00:05:00,560 Speaker 1: treasury bonds. It provides the inability to meet the needs 78 00:05:00,600 --> 00:05:04,159 Speaker 1: of the customers removing funds. You had a situation here 79 00:05:04,240 --> 00:05:09,000 Speaker 1: in California where the bank really had a non bank model. 80 00:05:09,920 --> 00:05:13,919 Speaker 1: It was really a venture capital firm calling itself a bank, 81 00:05:14,520 --> 00:05:17,520 Speaker 1: and it didn't have the kind of long term liquidity 82 00:05:17,600 --> 00:05:20,320 Speaker 1: that you would expect. The whole theory is that they 83 00:05:21,000 --> 00:05:24,240 Speaker 1: make long term loans that pay more ultimately than they're 84 00:05:24,240 --> 00:05:28,120 Speaker 1: paying their depositors, which is how they survive. It's a 85 00:05:28,160 --> 00:05:31,640 Speaker 1: relatively small bank. I mean, the numbers nowadays are so huge, 86 00:05:32,000 --> 00:05:34,880 Speaker 1: but it had two hundred and nine billion dollars in assets, 87 00:05:35,279 --> 00:05:39,280 Speaker 1: but jpm Morgan Chase has three trillion. However, on Monday, 88 00:05:39,760 --> 00:05:44,479 Speaker 1: President Biden publicly announced that all deposits, not just up 89 00:05:44,520 --> 00:05:46,960 Speaker 1: to two hundred and fifty thousand, would be covered by 90 00:05:46,960 --> 00:05:50,640 Speaker 1: the FDIC. To quote Biden, your deposits will be there 91 00:05:50,680 --> 00:05:53,000 Speaker 1: when you need them. I think that was done to 92 00:05:53,640 --> 00:05:57,719 Speaker 1: minimize a general run on banks at large. But isn't that, 93 00:05:57,800 --> 00:06:00,920 Speaker 1: in the long run a dangerous strategy to have no 94 00:06:01,040 --> 00:06:04,800 Speaker 1: risk at all. Absolutely, the FDC insurance is not there 95 00:06:04,839 --> 00:06:07,679 Speaker 1: to make you whole. It's there to provide a cushion 96 00:06:08,360 --> 00:06:11,600 Speaker 1: so that banks can do what they need to do. 97 00:06:11,720 --> 00:06:15,800 Speaker 1: They can leverage, they can give you protection if their 98 00:06:15,839 --> 00:06:19,800 Speaker 1: model is correct. And most people who have a bank 99 00:06:19,839 --> 00:06:22,520 Speaker 1: account don't have a bank account that has an excess 100 00:06:22,560 --> 00:06:25,200 Speaker 1: up two hundred fifty thousand dollars in it. In one place. 101 00:06:25,240 --> 00:06:29,000 Speaker 1: It's usually invested someplace. It's not sitting in cash. So 102 00:06:29,160 --> 00:06:32,640 Speaker 1: when you look at that, and when President Biden says 103 00:06:32,640 --> 00:06:35,680 Speaker 1: he's going to make the steps to go against tradition 104 00:06:36,200 --> 00:06:38,240 Speaker 1: and to go against what is the common rule of 105 00:06:38,279 --> 00:06:44,440 Speaker 1: banking and guarantee every deposit, this becomes a problem. FDIC 106 00:06:44,640 --> 00:06:49,720 Speaker 1: insurance is typically paid by the banking facilities. This is 107 00:06:49,720 --> 00:06:52,520 Speaker 1: a fee they absorbed for that form of protection from 108 00:06:52,800 --> 00:06:56,560 Speaker 1: a bank run and from illiquidity. But when you go 109 00:06:56,760 --> 00:06:59,960 Speaker 1: above the amount that's insured, that means us the taxpayer, 110 00:07:00,800 --> 00:07:06,000 Speaker 1: now have to bail out those amounts above the federal insurance. 111 00:07:06,920 --> 00:07:10,640 Speaker 1: You have a scenario where people who used common sense, 112 00:07:11,400 --> 00:07:14,800 Speaker 1: who had their funds diversified correctly, are now having to 113 00:07:14,840 --> 00:07:18,320 Speaker 1: pay for those who just put their money in what 114 00:07:18,440 --> 00:07:22,200 Speaker 1: we really can call a venture capital firm, not a bank. 115 00:07:22,560 --> 00:07:27,880 Speaker 1: This rings disingenuous to what the FDIC was actually created 116 00:07:27,960 --> 00:07:31,160 Speaker 1: to do. So, following up on the Silicon Valley Bank 117 00:07:31,200 --> 00:07:35,200 Speaker 1: in California, we then had a failure all the way 118 00:07:35,200 --> 00:07:38,200 Speaker 1: across the country in the New York based Signature Bank, 119 00:07:38,640 --> 00:07:41,960 Speaker 1: which had forty branches around the country, and on Sunday, 120 00:07:42,000 --> 00:07:45,400 Speaker 1: March twelfth, it became the third largest failure in US 121 00:07:45,520 --> 00:07:49,800 Speaker 1: banking history. It's totally different from the Silicon Valley Bank 122 00:07:49,880 --> 00:07:53,520 Speaker 1: because it largely was a real estate lending business and 123 00:07:53,560 --> 00:07:58,440 Speaker 1: had recently invested very heavily in cryptocurrency deposits, and it 124 00:07:58,480 --> 00:08:02,640 Speaker 1: really closed its doors very roughly on Sunday. It's a 125 00:08:02,680 --> 00:08:05,800 Speaker 1: fascinating moment here. You had a bank that again was 126 00:08:05,840 --> 00:08:09,000 Speaker 1: going way out of normal banking business. It had forty 127 00:08:09,000 --> 00:08:12,240 Speaker 1: branches assets of about one hundred and ten billion. But 128 00:08:12,840 --> 00:08:17,360 Speaker 1: the bank itself ended up in a situation where I'd 129 00:08:17,400 --> 00:08:21,000 Speaker 1: had something like sixteen billion dollars in deposits from digital 130 00:08:21,040 --> 00:08:24,680 Speaker 1: asset related customers and crypto investing has really had a 131 00:08:24,720 --> 00:08:27,520 Speaker 1: bad couple of months, so as those things went down, 132 00:08:28,000 --> 00:08:31,640 Speaker 1: the bank's holdings went down. The result is that there's 133 00:08:31,760 --> 00:08:36,120 Speaker 1: another banking example, and again the FDIC said that everybody 134 00:08:36,120 --> 00:08:40,000 Speaker 1: would be made whole. Now, Charles Schwab's shares fell a 135 00:08:40,000 --> 00:08:42,559 Speaker 1: lot on Monday. Do you have a sense that they're 136 00:08:43,240 --> 00:08:45,600 Speaker 1: stabilizing or do you think that they're also in danger. 137 00:08:46,559 --> 00:08:48,880 Speaker 1: There's the feel that they are stabilizing, but I do 138 00:08:48,960 --> 00:08:53,480 Speaker 1: believe there's still danger. Charles Swab has a unique model 139 00:08:53,600 --> 00:08:57,680 Speaker 1: where it's really almost a self serve, so you have 140 00:08:58,400 --> 00:09:03,560 Speaker 1: customers who don't necessary really follow the typical norms of 141 00:09:03,880 --> 00:09:06,559 Speaker 1: where they would put money if you are an investment firm, 142 00:09:07,320 --> 00:09:09,680 Speaker 1: so you have a bakeup of investors who are doing 143 00:09:09,920 --> 00:09:11,960 Speaker 1: kind of what they want. So it's really hard for 144 00:09:12,040 --> 00:09:15,760 Speaker 1: Charles Swab to be able to position themselves based on 145 00:09:15,920 --> 00:09:19,080 Speaker 1: what the customers want. So they're having to step out 146 00:09:19,120 --> 00:09:23,240 Speaker 1: of the normal model as well. And I think, like 147 00:09:23,559 --> 00:09:26,960 Speaker 1: Charles Swab, you see problems as the economy gets tougher 148 00:09:27,400 --> 00:09:31,800 Speaker 1: and most people aren't adding new to the investment parameters 149 00:09:31,840 --> 00:09:34,640 Speaker 1: in just equities because of what's going on in the markets, 150 00:09:35,120 --> 00:09:39,040 Speaker 1: and as people seek diversification, Charles Swab suffers because of that. 151 00:09:39,040 --> 00:09:40,920 Speaker 1: They're not going to be taking in the deposits that 152 00:09:40,920 --> 00:09:43,959 Speaker 1: they're used to, so that gives them a weakness that 153 00:09:44,200 --> 00:09:46,680 Speaker 1: it's hard to quantify until you dig into the books, 154 00:09:47,120 --> 00:09:49,600 Speaker 1: but the general perception is they're not going to perform 155 00:09:49,640 --> 00:09:54,240 Speaker 1: as well as your more normalized banks, so yes, continued 156 00:09:54,280 --> 00:09:57,120 Speaker 1: weakness there. There are some firms which on really good 157 00:09:57,120 --> 00:10:00,160 Speaker 1: times do really well, do better than big banks, but 158 00:10:00,200 --> 00:10:02,600 Speaker 1: then in bad times there are dramatically great risk and 159 00:10:02,679 --> 00:10:05,360 Speaker 1: Schwab is a big bank. It's the eighth largest US 160 00:10:05,400 --> 00:10:09,559 Speaker 1: bank by assets, with seven trillion dollars in client assets 161 00:10:09,600 --> 00:10:13,640 Speaker 1: thirty three point eight million active brokerage accounts. So even 162 00:10:13,679 --> 00:10:15,920 Speaker 1: to have a place like that a little shaken is 163 00:10:15,920 --> 00:10:19,480 Speaker 1: a sign that the system is under considerable stress. Really 164 00:10:19,520 --> 00:10:21,720 Speaker 1: for the first time since two thousand and eight. And 165 00:10:21,800 --> 00:10:24,280 Speaker 1: again it's a liquidity problem. You know, the Federal Reserve 166 00:10:24,360 --> 00:10:27,760 Speaker 1: is trying to fight inflation. It's raising interest rates, it's 167 00:10:27,840 --> 00:10:30,600 Speaker 1: changing the game. These guys had all sort of gotten 168 00:10:30,640 --> 00:10:32,880 Speaker 1: into a game of low interest rates and lots of money, 169 00:10:33,240 --> 00:10:35,000 Speaker 1: and now there isn't as much money and the interest 170 00:10:35,080 --> 00:10:37,720 Speaker 1: had gone up. This is not a new thing. People 171 00:10:37,760 --> 00:10:40,560 Speaker 1: need to remember that. When the stock market crashed back 172 00:10:40,559 --> 00:10:44,480 Speaker 1: in October of nineteen twenty nine, people really were worried, 173 00:10:44,840 --> 00:10:46,760 Speaker 1: and as a result, there was a huge run on 174 00:10:46,800 --> 00:10:49,920 Speaker 1: the bank. Six hundred and fifty banks failed in nineteen 175 00:10:49,960 --> 00:10:53,680 Speaker 1: twenty nine, more than thirteen hundred failed in nineteen thirty. 176 00:10:53,920 --> 00:10:56,240 Speaker 1: In December thirty one, New York's Bank of the United 177 00:10:56,240 --> 00:10:59,840 Speaker 1: States collapse with more than two hundred million dollars in deposits, 178 00:11:00,120 --> 00:11:02,600 Speaker 1: making it the largest single bank failure in American history 179 00:11:02,600 --> 00:11:05,240 Speaker 1: at that time. And then of course, we thought we'd 180 00:11:05,280 --> 00:11:07,640 Speaker 1: learned all those lessons, and then in the two thousand 181 00:11:07,640 --> 00:11:10,480 Speaker 1: and eight financial crisis, we sort of repeated a whole 182 00:11:10,480 --> 00:11:13,120 Speaker 1: bunch of mistakes and you ended up with very big 183 00:11:13,160 --> 00:11:16,640 Speaker 1: system going broke. Home prices began to fall in early 184 00:11:16,640 --> 00:11:20,640 Speaker 1: two thousand and six, then subprime lenders began to file 185 00:11:20,679 --> 00:11:23,760 Speaker 1: for bankruptcy. In two thousand and seven, two big hedge 186 00:11:23,760 --> 00:11:27,760 Speaker 1: funds failed, weighed down by investments and subprime loans, and 187 00:11:27,880 --> 00:11:30,600 Speaker 1: that began to cause a panic. And then in September 188 00:11:30,600 --> 00:11:33,400 Speaker 1: two thousand and eight, Layman Brothers, a very old, very 189 00:11:33,440 --> 00:11:37,440 Speaker 1: prestigious firm, collapsed in the biggest US bankruptcy ever, and 190 00:11:37,480 --> 00:11:40,120 Speaker 1: so we had to go through a whole cycle of 191 00:11:40,200 --> 00:11:43,760 Speaker 1: deep economic pain. So it strikes me that this is 192 00:11:43,800 --> 00:11:47,000 Speaker 1: the perfect moment for you to share with us. You're 193 00:11:47,120 --> 00:11:51,880 Speaker 1: thinking about a diversified investment plan, given what happens if 194 00:11:51,880 --> 00:11:54,120 Speaker 1: you put all of your eggs in one basket and 195 00:11:54,240 --> 00:11:58,520 Speaker 1: that basket gets dropped, absolutely and that basket has been dropped, 196 00:11:58,679 --> 00:12:01,360 Speaker 1: and we're seeing it, and this is why we talk 197 00:12:01,400 --> 00:12:05,480 Speaker 1: so much about diversifying. You want the ability of your 198 00:12:05,520 --> 00:12:10,760 Speaker 1: portfolio to withstand the issues, but also the unknown and 199 00:12:10,880 --> 00:12:13,080 Speaker 1: shocks like this to the system. Even though that we've 200 00:12:13,120 --> 00:12:15,840 Speaker 1: talked about it, and we've kind of been talking about 201 00:12:15,880 --> 00:12:18,720 Speaker 1: it because the interest races were going up to this degree, 202 00:12:18,800 --> 00:12:23,000 Speaker 1: it's considered an unknown shock, and this is why we diversify. 203 00:12:23,320 --> 00:12:27,240 Speaker 1: Metals in this scenario are there to protect that plunge 204 00:12:27,280 --> 00:12:30,400 Speaker 1: that you can see until some normalcy comes back. And 205 00:12:30,480 --> 00:12:33,480 Speaker 1: this is why we talk about diversity. Is it good 206 00:12:33,480 --> 00:12:36,760 Speaker 1: to have metals over the long term. Absolutely, we run 207 00:12:37,120 --> 00:12:40,120 Speaker 1: a society to where there is inflation, it's considered good, 208 00:12:40,480 --> 00:12:42,520 Speaker 1: So you always have a need for metals. But in 209 00:12:42,559 --> 00:12:47,040 Speaker 1: a time of high inflation, and in a time of 210 00:12:48,000 --> 00:12:52,640 Speaker 1: wild rides inequities markets, and increased loan costs for real estate, 211 00:12:53,160 --> 00:12:56,120 Speaker 1: you throw the cryptos in there, which even during a 212 00:12:56,280 --> 00:13:00,080 Speaker 1: normal market or wild to begin with, this is why 213 00:13:00,200 --> 00:13:04,120 Speaker 1: metals are so important. They give your portfolio that protection. 214 00:13:04,840 --> 00:13:07,439 Speaker 1: You don't have to take the huge hit from not 215 00:13:07,600 --> 00:13:11,200 Speaker 1: being in strictly just equities, You don't have to take 216 00:13:11,200 --> 00:13:14,360 Speaker 1: the huge hit of being just in cryptos or just 217 00:13:14,480 --> 00:13:19,120 Speaker 1: in real estate. By having the metals, you offer a 218 00:13:19,280 --> 00:13:22,400 Speaker 1: bottom line protection to what your account value is. You're 219 00:13:22,440 --> 00:13:24,880 Speaker 1: not going to take those big losses and you're going 220 00:13:24,920 --> 00:13:28,960 Speaker 1: to see your medals outperform and give you the protection. 221 00:13:29,360 --> 00:13:31,800 Speaker 1: In some cases even performed to the point where you 222 00:13:31,880 --> 00:13:34,240 Speaker 1: don't take a loss on the year on your portfolio 223 00:13:34,600 --> 00:13:38,240 Speaker 1: because they'll be there to bridge that difference between your 224 00:13:38,280 --> 00:13:52,320 Speaker 1: other assets and the rise in value of metals. Are 225 00:13:52,360 --> 00:13:55,360 Speaker 1: you worried about your financial assets after recent events and 226 00:13:55,440 --> 00:13:59,040 Speaker 1: banking cut through the market uncertainty with the tried and 227 00:13:59,120 --> 00:14:03,080 Speaker 1: true safe have against volatility gold. 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With Legacy Precious Metals, diversify your 237 00:14:35,960 --> 00:14:40,920 Speaker 1: portfolio beyond stocks and bonds, safeguard your retirement, and preserve 238 00:14:40,960 --> 00:14:45,360 Speaker 1: your portfolio's value against inflation. Protect your hard earned money 239 00:14:45,360 --> 00:14:49,120 Speaker 1: from market fluctuations. Call Legacy Precious Metals at eight six 240 00:14:49,240 --> 00:14:53,240 Speaker 1: six four eight four four zero four three. That's eight 241 00:14:53,320 --> 00:14:57,120 Speaker 1: six six four eight four four zero four three, or 242 00:14:57,600 --> 00:15:01,280 Speaker 1: create your free account at buy Legacy goold dot com. 243 00:15:01,320 --> 00:15:09,240 Speaker 1: That's by legacygold dot com. Part of what you're talking 244 00:15:09,240 --> 00:15:12,920 Speaker 1: about in diversity is precisely because you can suddenly have 245 00:15:13,760 --> 00:15:17,360 Speaker 1: very dramatic economic changes. You know, last year the Federal 246 00:15:17,360 --> 00:15:20,680 Speaker 1: Reserve raised interest rates at the fastest pace since the 247 00:15:20,760 --> 00:15:24,600 Speaker 1: nineteen eighties, that went from just barely above zero to 248 00:15:24,720 --> 00:15:28,160 Speaker 1: four point five percent in one year. Large parts of 249 00:15:28,160 --> 00:15:31,840 Speaker 1: the system had not expected that scale of transition, and 250 00:15:32,080 --> 00:15:34,640 Speaker 1: Jerome Powell, the Federal Reserve Chair, has been very clear 251 00:15:35,160 --> 00:15:38,400 Speaker 1: in his testimony before the Senate Banking Committee that they 252 00:15:38,440 --> 00:15:41,680 Speaker 1: are going to continue to raise interest rates until they 253 00:15:41,720 --> 00:15:44,480 Speaker 1: get to a point that inflation gets down to about 254 00:15:44,480 --> 00:15:47,760 Speaker 1: two percent a year, which is a very significant change 255 00:15:47,760 --> 00:15:50,360 Speaker 1: from now and is going to put a great deal 256 00:15:50,400 --> 00:15:54,520 Speaker 1: of pressure on people who are counting on paper investments, 257 00:15:54,600 --> 00:15:57,320 Speaker 1: leading to very large upsides. You've been through this before, 258 00:15:57,360 --> 00:15:59,840 Speaker 1: and you've seen this before. To what extent does that 259 00:16:00,000 --> 00:16:04,360 Speaker 1: almost make the case for gold and silver being a 260 00:16:04,480 --> 00:16:08,920 Speaker 1: very very important hedge against these kind of dramatic changes. 261 00:16:09,400 --> 00:16:11,440 Speaker 1: That's a great question, and I would say it doesn't 262 00:16:11,480 --> 00:16:14,760 Speaker 1: just make the case, it makes it a necessity. There 263 00:16:14,840 --> 00:16:18,720 Speaker 1: is one thing that's going to counteract the interest rates 264 00:16:18,960 --> 00:16:22,600 Speaker 1: the turnaround in the economy as we see interest rates 265 00:16:22,600 --> 00:16:24,840 Speaker 1: go higher and the cost of things get higher because 266 00:16:24,880 --> 00:16:28,960 Speaker 1: it cost manufacturers more. This is exactly why we need 267 00:16:29,080 --> 00:16:33,040 Speaker 1: precious metals. It will be the one asset that continues 268 00:16:33,120 --> 00:16:36,960 Speaker 1: to move up and counter that loss that you're receiving 269 00:16:37,000 --> 00:16:40,840 Speaker 1: in your purchasing power but also in the interest rates. 270 00:16:41,240 --> 00:16:44,720 Speaker 1: And it's going to give you the opportunity to ride 271 00:16:44,760 --> 00:16:47,560 Speaker 1: through the wave until we can get back to a 272 00:16:47,640 --> 00:16:52,000 Speaker 1: two percent rate. It's going to take time. It's going 273 00:16:52,040 --> 00:16:55,160 Speaker 1: to take years two and eight. It was a decade 274 00:16:55,480 --> 00:16:59,520 Speaker 1: before we really got back to strength. Truman power is 275 00:16:59,520 --> 00:17:01,760 Speaker 1: pretty clear. He says he wants it to get down 276 00:17:01,760 --> 00:17:04,960 Speaker 1: to two percent. Well, the annual rate as of the 277 00:17:05,040 --> 00:17:09,240 Speaker 1: end of January is six point four percent, and the 278 00:17:09,359 --> 00:17:12,480 Speaker 1: previous year it was six point five percent, So they 279 00:17:12,520 --> 00:17:15,679 Speaker 1: have not yet dented the scale of the inflation that 280 00:17:15,720 --> 00:17:18,960 Speaker 1: has been built up by years of too much government spending, 281 00:17:19,400 --> 00:17:22,679 Speaker 1: years of too much deficit. Seems to me that in 282 00:17:22,840 --> 00:17:26,280 Speaker 1: specific areas, for example, in the consumer price index, the 283 00:17:26,359 --> 00:17:30,240 Speaker 1: consumer price index for urban consumers actually rose by a 284 00:17:30,240 --> 00:17:33,840 Speaker 1: half percent in January, which would the principle be like 285 00:17:33,880 --> 00:17:36,399 Speaker 1: six percent a year. And people who've been going to 286 00:17:36,400 --> 00:17:40,399 Speaker 1: the grocery store have seen those kind of changes. So 287 00:17:40,680 --> 00:17:43,040 Speaker 1: you're going to see continued pressure, it seems to me, 288 00:17:43,840 --> 00:17:48,720 Speaker 1: from the Federal Reserve, and continued increases in interest rates, 289 00:17:48,720 --> 00:17:51,240 Speaker 1: and the results going to be that for a lot 290 00:17:51,280 --> 00:17:53,520 Speaker 1: of investments, things are going to get much tighter, and 291 00:17:53,560 --> 00:17:57,800 Speaker 1: particularly if this then translates through to mortgage rates and 292 00:17:57,880 --> 00:18:01,040 Speaker 1: that then translates through to housing. Housing is a huge 293 00:18:01,080 --> 00:18:03,800 Speaker 1: producer of jobs in this country, and I think that 294 00:18:04,080 --> 00:18:07,760 Speaker 1: people in that kind of a setting really need some 295 00:18:08,080 --> 00:18:11,080 Speaker 1: base of stability from which they can then look at 296 00:18:11,119 --> 00:18:15,159 Speaker 1: what's happening to their other assets. Absolutely, and it's like 297 00:18:15,200 --> 00:18:18,240 Speaker 1: you said, Chairman, Powell has been saying this for more 298 00:18:18,240 --> 00:18:20,720 Speaker 1: than a year now, but no one's been listening. That's 299 00:18:20,760 --> 00:18:24,200 Speaker 1: the devastating part. You have advisors out there who aren't 300 00:18:24,240 --> 00:18:27,680 Speaker 1: taking the Chairman at his word, to their own detriment 301 00:18:27,680 --> 00:18:30,800 Speaker 1: and to their clients detriment. He's been very specific, this 302 00:18:30,880 --> 00:18:34,760 Speaker 1: is where that phase comes from higher for longer. His 303 00:18:34,920 --> 00:18:37,720 Speaker 1: path is very clear, and it is necessary, it is 304 00:18:37,840 --> 00:18:41,640 Speaker 1: one of the few ways that we can actually combat 305 00:18:41,720 --> 00:18:45,160 Speaker 1: the inflation that we have. As you said, we've been 306 00:18:45,160 --> 00:18:48,359 Speaker 1: through such a long period of easy money, low interest 307 00:18:48,440 --> 00:18:52,560 Speaker 1: rates that the system has almost forgotten how to behave normally. 308 00:18:53,040 --> 00:18:55,400 Speaker 1: So this is why we have to take these steps, 309 00:18:55,760 --> 00:18:58,320 Speaker 1: and it will affect the housing markets. It's going to 310 00:18:58,320 --> 00:19:01,840 Speaker 1: affect everything. Credit card debt, that's next. That's something that 311 00:19:02,240 --> 00:19:05,680 Speaker 1: hasn't been talked about yet, but we'll see. But housing specifically, 312 00:19:06,720 --> 00:19:09,960 Speaker 1: it's such a key factor to the United States economy. 313 00:19:10,000 --> 00:19:13,040 Speaker 1: Whether it's you build the houses, or you sell the houses, 314 00:19:13,119 --> 00:19:15,320 Speaker 1: or you furnish the houses, or you furnish the furniture 315 00:19:15,480 --> 00:19:18,040 Speaker 1: that goes to the houses and all the goods that 316 00:19:18,040 --> 00:19:22,800 Speaker 1: wrap around it. It creates such a shock that people 317 00:19:22,840 --> 00:19:25,679 Speaker 1: begin to lose faith in housing them and that's a 318 00:19:25,760 --> 00:19:28,520 Speaker 1: detriment well at that point, people who had bought a 319 00:19:28,560 --> 00:19:32,720 Speaker 1: house expecting it to rise. I think for most middle 320 00:19:32,720 --> 00:19:36,400 Speaker 1: class Americans, their home is their largest single capital investment, 321 00:19:37,040 --> 00:19:39,199 Speaker 1: and they spend twenty or thirty years paying off the 322 00:19:39,240 --> 00:19:41,600 Speaker 1: mortgage and they think it's going to provide a nice 323 00:19:41,640 --> 00:19:44,480 Speaker 1: baseline for their retirement, and suddenly they're faced with a 324 00:19:44,560 --> 00:19:48,240 Speaker 1: much tougher housing market because the rise in interest rates 325 00:19:48,280 --> 00:19:51,000 Speaker 1: could combat the inflation. You know, the average rate or 326 00:19:51,040 --> 00:19:54,159 Speaker 1: a thirty year fixed rate home loan climbed to six 327 00:19:54,280 --> 00:19:57,560 Speaker 1: point seven three percent, and I think two or three 328 00:19:57,600 --> 00:19:59,679 Speaker 1: years ago was probably done and around two or three 329 00:20:00,320 --> 00:20:02,719 Speaker 1: and if you average that out over a thirty year period, 330 00:20:03,119 --> 00:20:05,760 Speaker 1: that is a lot of money you're now going to pay, 331 00:20:05,800 --> 00:20:08,919 Speaker 1: not just for the house, but for the loan. And 332 00:20:09,040 --> 00:20:11,520 Speaker 1: that changes things in a way that again I think 333 00:20:11,640 --> 00:20:15,560 Speaker 1: reinforces your emphasis that people have to recognize that the 334 00:20:15,600 --> 00:20:19,199 Speaker 1: world can change and that they need diversity so that 335 00:20:19,280 --> 00:20:22,040 Speaker 1: whichever direction the world goes in, they still have a 336 00:20:22,080 --> 00:20:25,119 Speaker 1: stable baseline from which they can play in their future. 337 00:20:25,800 --> 00:20:28,760 Speaker 1: Absolutely any interested. The thing with the housing too, if 338 00:20:28,800 --> 00:20:33,720 Speaker 1: you look at that increase dramatically changes the monthly payment. Unfortunately, 339 00:20:33,760 --> 00:20:37,359 Speaker 1: most people buy homes today based on what it costs 340 00:20:37,359 --> 00:20:39,679 Speaker 1: them a month to live in it instead of the 341 00:20:39,760 --> 00:20:42,800 Speaker 1: value of the home. And you're now having a situation 342 00:20:42,800 --> 00:20:45,240 Speaker 1: where people are paying twice as much than they were 343 00:20:45,320 --> 00:20:58,360 Speaker 1: last year for the same home value. You've worked hard 344 00:20:58,400 --> 00:21:01,360 Speaker 1: for your savings. What are you going to protect its value? 345 00:21:01,760 --> 00:21:04,879 Speaker 1: We all know the stock market is volatile. By diversifying 346 00:21:04,920 --> 00:21:09,080 Speaker 1: your portfolio you can protect yourself from an unpredictable market. 347 00:21:09,680 --> 00:21:13,720 Speaker 1: That's why I invest with Legacy Precious Metals. Legacy Precious 348 00:21:13,720 --> 00:21:17,280 Speaker 1: Metals as a revolutionary new platform that allows you to 349 00:21:17,320 --> 00:21:21,440 Speaker 1: invest in real gold and silver online. They make investing 350 00:21:21,440 --> 00:21:24,600 Speaker 1: in gold and silver simple. Just open an online account, 351 00:21:24,920 --> 00:21:27,720 Speaker 1: select your medals of choice and choose to have them 352 00:21:27,720 --> 00:21:30,560 Speaker 1: stored in a vault or ship to your door. You'll 353 00:21:30,560 --> 00:21:33,879 Speaker 1: have access to a personalized dashboard where you can trackt 354 00:21:33,920 --> 00:21:38,640 Speaker 1: your portfolio growth in real time anytime. Create your free 355 00:21:38,680 --> 00:21:42,240 Speaker 1: account online at by legacy goold dot com or give 356 00:21:42,280 --> 00:21:45,560 Speaker 1: their experts a call today at age six six four 357 00:21:45,640 --> 00:21:49,080 Speaker 1: eight four four zero four three. Even in the event 358 00:21:49,119 --> 00:21:52,680 Speaker 1: of a stock market, housing market, or banking collapse, gold 359 00:21:52,720 --> 00:21:56,080 Speaker 1: and silver have been shown to retain their worth. Don't 360 00:21:56,119 --> 00:21:59,520 Speaker 1: leave your future up to chance. Call Legacy Precious Metals 361 00:21:59,560 --> 00:22:03,520 Speaker 1: today at eight six six four eight four four zero 362 00:22:03,640 --> 00:22:12,320 Speaker 1: four three or visit by legacy goold dot com. Can 363 00:22:12,320 --> 00:22:14,440 Speaker 1: you talk to us for a little bit about how 364 00:22:14,680 --> 00:22:19,600 Speaker 1: gold performed compared to other asset classes over the last year. Absolutely, 365 00:22:19,760 --> 00:22:23,320 Speaker 1: we were up eighteen percent just in this past quarter, 366 00:22:24,040 --> 00:22:26,720 Speaker 1: and we saw a small dip which was amazing, but 367 00:22:26,880 --> 00:22:29,920 Speaker 1: more importantly is it's starting to move again. So what 368 00:22:29,960 --> 00:22:33,080 Speaker 1: we see is you take a look at your equities 369 00:22:33,119 --> 00:22:36,120 Speaker 1: markets and you see that they're averagingly down about nineteen 370 00:22:36,240 --> 00:22:38,840 Speaker 1: twenty percent depending on if you're in a fund or 371 00:22:39,000 --> 00:22:43,840 Speaker 1: the overall, and gold has replaced that loss. And that's 372 00:22:43,880 --> 00:22:45,760 Speaker 1: one of the key things we look at. When you're 373 00:22:45,800 --> 00:22:48,520 Speaker 1: looking at gold and silver and you're seeing eighteen to 374 00:22:48,600 --> 00:22:51,800 Speaker 1: twenty two percent return based on whether it's gold or 375 00:22:51,800 --> 00:22:55,480 Speaker 1: silver or it's a combination, you see that offset. It 376 00:22:55,520 --> 00:23:00,400 Speaker 1: brings to point exactly what we've been saying. You take 377 00:23:00,480 --> 00:23:04,320 Speaker 1: this asset and you use it as the insurance. So 378 00:23:04,640 --> 00:23:06,920 Speaker 1: what we've lost in the equity is what we've lost 379 00:23:06,960 --> 00:23:10,640 Speaker 1: in possible real estate. We offset that with precious metals. 380 00:23:11,480 --> 00:23:15,920 Speaker 1: It gives us a flatter curve of growth than just 381 00:23:16,080 --> 00:23:19,440 Speaker 1: being in one asset. If you're in just equities, your 382 00:23:19,560 --> 00:23:23,280 Speaker 1: growth curve is very scattered, it's very up and down. 383 00:23:24,640 --> 00:23:26,880 Speaker 1: When you add metals to the mix, you flatten out 384 00:23:26,880 --> 00:23:29,680 Speaker 1: that curve and it gives you what you really want 385 00:23:30,160 --> 00:23:34,000 Speaker 1: is a more balanced growth rate to get to your goal, 386 00:23:34,040 --> 00:23:38,439 Speaker 1: whether it be retirement or just saving assets or protecting 387 00:23:38,720 --> 00:23:41,920 Speaker 1: purchasing power. And that's one of the important things about it. 388 00:23:42,480 --> 00:23:48,040 Speaker 1: When you do this, you remove the risk of the unknown, 389 00:23:48,760 --> 00:23:51,679 Speaker 1: you protect that purchasing power, and this is why we 390 00:23:51,840 --> 00:23:54,720 Speaker 1: do it. And you'll see in the year to come. 391 00:23:54,840 --> 00:23:56,840 Speaker 1: I think you're going to see an even greater growth 392 00:23:56,920 --> 00:24:00,480 Speaker 1: rate in your metals because you're going to see fortunately 393 00:24:01,440 --> 00:24:04,439 Speaker 1: more loss than the equities markets, because we know that 394 00:24:04,520 --> 00:24:06,920 Speaker 1: the rate that we have now, we're sitting at four 395 00:24:06,960 --> 00:24:10,680 Speaker 1: point seven five ish roughly for the Federate. There's talk 396 00:24:10,840 --> 00:24:13,600 Speaker 1: that they're going to have to go over six to 397 00:24:13,640 --> 00:24:15,560 Speaker 1: get rid of this inflation and hold it there for 398 00:24:15,600 --> 00:24:18,560 Speaker 1: a while. So well, I was shocked by the way 399 00:24:18,560 --> 00:24:21,240 Speaker 1: that gold has had a pretty good run and really 400 00:24:21,280 --> 00:24:25,880 Speaker 1: surged in January. Silver has been remarkable. Could you talk 401 00:24:25,880 --> 00:24:27,840 Speaker 1: a little bit about what's happening to the silver market? 402 00:24:28,440 --> 00:24:31,840 Speaker 1: Silver to me is the superstar that no one talks about. 403 00:24:33,040 --> 00:24:35,520 Speaker 1: Gold is fantastic. Most people think of metals, they think 404 00:24:35,560 --> 00:24:39,800 Speaker 1: of gold, and gold is a great currency asset. Silver 405 00:24:40,119 --> 00:24:43,320 Speaker 1: is also a currency asset. It replaces your dollars, but 406 00:24:43,480 --> 00:24:47,919 Speaker 1: it has so much manufacturing capabilities. It has such a 407 00:24:48,040 --> 00:24:51,680 Speaker 1: need in a world where everyone wants to put solar 408 00:24:52,200 --> 00:24:55,879 Speaker 1: or put a hybrid engine. There's so much silver used 409 00:24:56,119 --> 00:24:59,640 Speaker 1: in that transaction. To create energy from the sun, takes 410 00:24:59,640 --> 00:25:03,199 Speaker 1: a lot of silver. To create electronic devices, there's a 411 00:25:03,200 --> 00:25:06,320 Speaker 1: lot of silver. So you're seeing more and more silver 412 00:25:06,440 --> 00:25:12,919 Speaker 1: being used in a mechanical application along with its investment application. 413 00:25:13,520 --> 00:25:16,320 Speaker 1: So when we look at silver and know that there's 414 00:25:16,359 --> 00:25:19,320 Speaker 1: such a demand on it, there's a problem getting enough 415 00:25:19,320 --> 00:25:22,120 Speaker 1: silver out of the ground. And that's probably the easiest 416 00:25:22,119 --> 00:25:24,600 Speaker 1: way to say it. We don't have enough silver to 417 00:25:24,720 --> 00:25:29,199 Speaker 1: meet demand. So with that, we're seeing a push and 418 00:25:29,200 --> 00:25:31,679 Speaker 1: we're seeing an elevation in the price, and it's a 419 00:25:31,720 --> 00:25:33,920 Speaker 1: great time to take advantage of that because we know 420 00:25:34,680 --> 00:25:37,919 Speaker 1: solar is not going away, electric vehicles are not going away, 421 00:25:38,320 --> 00:25:41,560 Speaker 1: and electronics are not going away, so the demand is 422 00:25:41,560 --> 00:25:45,159 Speaker 1: always going to be there. Has that silver recently precisely 423 00:25:45,200 --> 00:25:47,800 Speaker 1: because there's not enough available, hasn't a reason like to 424 00:25:47,800 --> 00:25:50,960 Speaker 1: a nine year high. It has, and it still has 425 00:25:51,040 --> 00:25:53,520 Speaker 1: much further to go. That's the interesting thing. Most people 426 00:25:53,560 --> 00:25:56,040 Speaker 1: don't pay attention to the metals until it's already starting 427 00:25:56,040 --> 00:25:59,360 Speaker 1: to set new highs. So is it at a nine 428 00:25:59,400 --> 00:26:01,840 Speaker 1: year high, Yeah, but it's also at a very good 429 00:26:01,920 --> 00:26:04,719 Speaker 1: price point right now. Back in the eighties, we had 430 00:26:04,720 --> 00:26:07,640 Speaker 1: silver in the fifty dollars range, and it made sense 431 00:26:07,680 --> 00:26:13,159 Speaker 1: then inflation demand. So we're stepping back into a period 432 00:26:13,160 --> 00:26:16,080 Speaker 1: where metals will shine again because we're seeing the same scenario. 433 00:26:16,160 --> 00:26:18,760 Speaker 1: Like you said earlier, you would think that we would 434 00:26:18,800 --> 00:26:21,000 Speaker 1: have learned from the past, but yet here we are 435 00:26:21,280 --> 00:26:24,320 Speaker 1: making some of the same mistakes, and that gives us 436 00:26:24,320 --> 00:26:26,800 Speaker 1: the ability to look at that and say, okay, history, 437 00:26:26,840 --> 00:26:28,720 Speaker 1: we're going to learn from you. Now we're going to 438 00:26:28,800 --> 00:26:31,639 Speaker 1: diversify because we know the metals have us more substantial 439 00:26:31,720 --> 00:26:35,240 Speaker 1: run yet to go for an investment, but still maintain 440 00:26:35,320 --> 00:26:38,639 Speaker 1: all of that purchasing power protection so you get the 441 00:26:38,680 --> 00:26:42,119 Speaker 1: insurance plus the investment return. Now, at this time of 442 00:26:42,240 --> 00:26:46,600 Speaker 1: rising interest in gold and silver, legacy precious medals actually done, 443 00:26:46,600 --> 00:26:50,680 Speaker 1: I think a very interesting thing creating a new interactive 444 00:26:50,760 --> 00:26:53,760 Speaker 1: method for investing in gold, silver and other precious metals. 445 00:26:53,840 --> 00:26:56,680 Speaker 1: Can you walk, folks, because this was a real innovation 446 00:26:56,720 --> 00:26:58,960 Speaker 1: on your part and I think makes it so much 447 00:26:58,960 --> 00:27:02,320 Speaker 1: easier for people to get involved. Yeah. Absolutely, thank you. 448 00:27:02,960 --> 00:27:06,040 Speaker 1: We've looked at the industry and we're always trying to 449 00:27:06,040 --> 00:27:08,239 Speaker 1: make it easier for our customers. We want to take 450 00:27:08,280 --> 00:27:11,480 Speaker 1: care of our customers the best that we can with that. 451 00:27:11,480 --> 00:27:13,879 Speaker 1: We've decided what can we do in a day and 452 00:27:13,920 --> 00:27:17,960 Speaker 1: age where everything is online and everything is interactive in 453 00:27:18,000 --> 00:27:21,280 Speaker 1: a way through an app, through a website. We said, 454 00:27:21,320 --> 00:27:24,600 Speaker 1: how do we do this for our customers? And it 455 00:27:24,640 --> 00:27:27,680 Speaker 1: took us some time, but we have just recently launched 456 00:27:27,960 --> 00:27:31,640 Speaker 1: our new online investing platform. You can find it by 457 00:27:31,680 --> 00:27:34,360 Speaker 1: going to the website. But the important thing to know 458 00:27:34,400 --> 00:27:38,440 Speaker 1: about this is it gives you control. The great thing 459 00:27:38,600 --> 00:27:41,720 Speaker 1: is we are here for you. We are as full 460 00:27:41,720 --> 00:27:44,239 Speaker 1: service as you want us to be, or we are 461 00:27:44,280 --> 00:27:46,080 Speaker 1: as hands off as you would like us to be. 462 00:27:46,840 --> 00:27:49,440 Speaker 1: It's truly up to you. Now, what most people will 463 00:27:49,480 --> 00:27:52,760 Speaker 1: do is they will contact us first talk about medals, 464 00:27:53,520 --> 00:27:55,560 Speaker 1: see if it's right for them, and then we can 465 00:27:55,600 --> 00:27:58,879 Speaker 1: show them how to go through the online platform and 466 00:27:58,920 --> 00:28:01,880 Speaker 1: get themselves set up and get full control of your 467 00:28:01,920 --> 00:28:05,639 Speaker 1: portfolio right from your own account. This really lets you 468 00:28:06,520 --> 00:28:10,200 Speaker 1: select your coins and bars, gives you real time pricing. 469 00:28:10,320 --> 00:28:13,320 Speaker 1: It also lets you roll your existing retirement account into 470 00:28:13,320 --> 00:28:15,919 Speaker 1: a precious metals IRA. I mean, all these things are 471 00:28:15,920 --> 00:28:20,920 Speaker 1: now doable by going to your new platform. Absolutely, it's 472 00:28:20,960 --> 00:28:24,320 Speaker 1: the next step in the industry. As leaders in the industry, 473 00:28:24,359 --> 00:28:26,280 Speaker 1: we will want to make sure they're always bringing you 474 00:28:26,800 --> 00:28:29,479 Speaker 1: what you want, what makes sense for you, so that 475 00:28:29,520 --> 00:28:32,560 Speaker 1: you can choose the options that matter to you. But 476 00:28:32,720 --> 00:28:35,720 Speaker 1: we've set up before we want to customize the investment 477 00:28:35,760 --> 00:28:38,440 Speaker 1: to your needs, and here's how we can truly do that. 478 00:28:38,920 --> 00:28:42,120 Speaker 1: So you also make it pretty easy for people to 479 00:28:42,200 --> 00:28:45,560 Speaker 1: have secure transactions. What are the different ways they can 480 00:28:45,600 --> 00:28:49,640 Speaker 1: fund their account? Security is everything right on an online world. 481 00:28:49,680 --> 00:28:51,400 Speaker 1: You have to make sure that security is there, and 482 00:28:51,400 --> 00:28:54,920 Speaker 1: that's what we've done. So you can fund the transactions 483 00:28:54,960 --> 00:28:57,640 Speaker 1: many different ways and they're all very secure. It's a 484 00:28:57,680 --> 00:29:00,360 Speaker 1: secure as you can get. You can fund your account 485 00:29:00,400 --> 00:29:03,320 Speaker 1: with a wire transfer, you can fund your account with 486 00:29:03,320 --> 00:29:07,920 Speaker 1: an AH transfer as well. You can do a checkbook transfer. 487 00:29:08,600 --> 00:29:10,920 Speaker 1: You can even send us a check if you'd like. 488 00:29:11,680 --> 00:29:14,240 Speaker 1: By connecting your bank though, you have a great thing. 489 00:29:14,680 --> 00:29:16,760 Speaker 1: You have the ability to not only purchase, but you 490 00:29:16,800 --> 00:29:19,360 Speaker 1: can sell and have the funds directly added to your 491 00:29:19,360 --> 00:29:22,560 Speaker 1: bank account as well. So we've given you as much 492 00:29:22,600 --> 00:29:25,800 Speaker 1: access as is available to you in the most secure 493 00:29:25,880 --> 00:29:29,320 Speaker 1: way possible. So that really creates a fluidity. If somebody 494 00:29:29,400 --> 00:29:33,160 Speaker 1: needs the money back to make another purchase, it's right 495 00:29:33,200 --> 00:29:39,160 Speaker 1: there online that your new by Legacy Gold site. Absolutely, 496 00:29:39,480 --> 00:29:42,680 Speaker 1: and things happen. We understand that. You know, in a 497 00:29:42,720 --> 00:29:45,840 Speaker 1: world where things are getting more difficult, someone may need 498 00:29:45,840 --> 00:29:48,280 Speaker 1: to sell some of their assets and they have the 499 00:29:48,320 --> 00:29:50,560 Speaker 1: ability to do that. The great thing about it is 500 00:29:50,600 --> 00:29:54,240 Speaker 1: you can access your account online twenty four seven. It's there, 501 00:29:54,400 --> 00:29:58,280 Speaker 1: so that means somebody who's curious or anxiety written can 502 00:29:58,320 --> 00:30:00,840 Speaker 1: literally go in any time of the day, night and 503 00:30:00,960 --> 00:30:04,560 Speaker 1: see exactly where their personal account is and the value 504 00:30:04,560 --> 00:30:08,280 Speaker 1: of their personal account. Absolutely, and the great thing about 505 00:30:08,320 --> 00:30:11,920 Speaker 1: that newt is it really changes everything for the customer. 506 00:30:11,960 --> 00:30:15,120 Speaker 1: It's a real game changer. People who have been hesited 507 00:30:15,160 --> 00:30:17,560 Speaker 1: in the past to invest in gold and silver, we 508 00:30:17,680 --> 00:30:19,720 Speaker 1: hear a lot of it is what's the transparency? How 509 00:30:19,720 --> 00:30:22,400 Speaker 1: do I know? What? Do I know what it's worth? 510 00:30:23,240 --> 00:30:25,880 Speaker 1: We've taken that fear away. We've given you the ability 511 00:30:25,880 --> 00:30:28,840 Speaker 1: to see exactly what you've invested in, when you invested 512 00:30:28,840 --> 00:30:32,160 Speaker 1: in it, what it's currently worth, and also the ability 513 00:30:32,720 --> 00:30:36,360 Speaker 1: to buy and sell. It's real time updates. Somebody who's 514 00:30:36,360 --> 00:30:39,360 Speaker 1: listening to us and who's now intrigued, what exactly do 515 00:30:39,480 --> 00:30:41,960 Speaker 1: they do to set up their account? I'm going to 516 00:30:42,080 --> 00:30:44,240 Speaker 1: tell you one of the best things to do. Go 517 00:30:44,320 --> 00:30:48,800 Speaker 1: to our website, buy Legacy, goold dot com, slash neot 518 00:30:49,680 --> 00:30:52,080 Speaker 1: take a look at us, but more importantly, give us 519 00:30:52,080 --> 00:30:55,360 Speaker 1: a call our phone numbers eight six six four eight 520 00:30:55,400 --> 00:30:59,000 Speaker 1: four four zero four three and speak to one of 521 00:30:59,000 --> 00:31:02,160 Speaker 1: our representatives. They're going to give you all the options 522 00:31:02,160 --> 00:31:05,040 Speaker 1: that are available to you. And that's important because even 523 00:31:05,080 --> 00:31:07,440 Speaker 1: though if you choose to do it by yourself, you 524 00:31:07,480 --> 00:31:10,400 Speaker 1: should have a plan decided, and we have a great 525 00:31:10,400 --> 00:31:12,400 Speaker 1: team here to help you do that. I think that's 526 00:31:12,400 --> 00:31:15,360 Speaker 1: important for people to realize that Legacy Precious Medals was 527 00:31:15,400 --> 00:31:18,640 Speaker 1: set up in part in order to enable people to 528 00:31:18,760 --> 00:31:23,280 Speaker 1: learn and to bring the opportunities to everybody. Absolutely. I 529 00:31:23,320 --> 00:31:26,880 Speaker 1: hope today people as they listen to our discussion of banks, 530 00:31:26,880 --> 00:31:29,880 Speaker 1: of inflation, of the futal Reserve, I hope they realize 531 00:31:29,920 --> 00:31:34,280 Speaker 1: how much you are committed to helping citizens manage their 532 00:31:34,280 --> 00:31:37,400 Speaker 1: account And I want to thank you for joining me 533 00:31:37,400 --> 00:31:40,120 Speaker 1: and helping me and frankly, our listeners make sense of 534 00:31:40,200 --> 00:31:44,560 Speaker 1: the current economic environment, the various bank closings, how we 535 00:31:44,600 --> 00:31:47,320 Speaker 1: can say for our own futures while dealing with uncertainty 536 00:31:47,320 --> 00:31:49,200 Speaker 1: in the market. And I want to let our listeners 537 00:31:49,240 --> 00:31:53,280 Speaker 1: know if they want more information, they can call Charles 538 00:31:53,280 --> 00:31:57,640 Speaker 1: and his team at Legacy Precious Medals directly at eight 539 00:31:57,760 --> 00:32:02,360 Speaker 1: six six four eight four four O four three. That's 540 00:32:02,800 --> 00:32:09,320 Speaker 1: eight six six four eight four four four three. Thank you, Charles. Oh, 541 00:32:09,320 --> 00:32:14,840 Speaker 1: it's my pleasure and thank you. Thank you to my guest, 542 00:32:14,960 --> 00:32:18,720 Speaker 1: Charles Thorndren. You can learn more about Legacy Precious Metals 543 00:32:19,160 --> 00:32:25,120 Speaker 1: new online investing platform at buy legacygold dot com. Slash 544 00:32:25,240 --> 00:32:29,880 Speaker 1: newt Newts World is produced by Gingish three sixty and iHeartMedia. 545 00:32:30,440 --> 00:32:35,480 Speaker 1: Our executive producer is Garnsey Sloan, our producer is Rebecca Howe, 546 00:32:35,560 --> 00:32:39,400 Speaker 1: and our researcher is Rachel Peterson. The artwork for the 547 00:32:39,440 --> 00:32:43,560 Speaker 1: show was created by Steve Penley. Special thanks to the 548 00:32:43,560 --> 00:32:47,000 Speaker 1: team at Gingwidge three sixty. If you've been enjoying news World, 549 00:32:47,280 --> 00:32:50,160 Speaker 1: I hope you'll go to Apple Podcast and both rate 550 00:32:50,240 --> 00:32:53,200 Speaker 1: us with five stars and give us a review so 551 00:32:53,320 --> 00:32:56,960 Speaker 1: others can learn what it's all about. Right now, listeners 552 00:32:56,960 --> 00:32:59,600 Speaker 1: of news World can sign up for my three free 553 00:32:59,640 --> 00:33:05,600 Speaker 1: week columns at gingware dot com slash newsletter. I'm Newt Gingrich. 554 00:33:06,080 --> 00:33:10,040 Speaker 1: This is Newtsworld, and this episode of Newtsworld was brought 555 00:33:10,080 --> 00:33:22,880 Speaker 1: to you by Legacy Precious Metals. The revolution in investing 556 00:33:22,960 --> 00:33:26,640 Speaker 1: is here. With Legacy Precious Metals new online platform, you 557 00:33:26,640 --> 00:33:31,240 Speaker 1: can invest in gold and silver anytime, anywhere, choose your amounts, 558 00:33:31,480 --> 00:33:33,400 Speaker 1: have them stored in a vault or shipped to you, 559 00:33:33,880 --> 00:33:37,040 Speaker 1: and track your growth in real time. And with inflation 560 00:33:37,080 --> 00:33:40,240 Speaker 1: impacting the cost of living and volatility in the stock market, 561 00:33:40,520 --> 00:33:42,720 Speaker 1: there has never been a better time to invest in 562 00:33:42,760 --> 00:33:46,760 Speaker 1: gold and silver. That's why I invest with Legacy Precious Metals. 563 00:33:47,160 --> 00:33:50,240 Speaker 1: Sign up for your free account online today at buy 564 00:33:50,560 --> 00:33:55,440 Speaker 1: legacygold dot com. That's by Legacy goold dot com.