FlyOver Conservatives - Economic Tsunami Approaching - What You Must Do NOW - Dr Kirk Elliott - Captions

Dr. Kirk Elliott discusses the current economic situation, focusing on the impact of debt and the potential collapse of the financial system. He explains the process of mining and refining silver, highlighting the scarcity of the metal and the increasing industrial demand for it. Dr. Kirk also emphasizes the value of tangible assets like silver as a hedge against the devaluation of paper currency and the potential economic crisis. He also touches on the potential geopolitical implications of a financial collapse and the need for individuals to be prepared by investing in tangible assets.

Further, Kirk Elliott discusses the process of investing in silver and gold, as well as the different factors to consider when making these investments. He emphasizes the importance of minimizing costs and maximizing ounces, as well as the safety and security of storing precious metals in a depository. He also highlights the impact of small daily expenses on long-term financial growth, encouraging people to make small changes in their spending habits to achieve significant financial gains. Kirk's approach to investing and financial planning is rooted in personal responsibility and a conservative mindset, aiming to empower individuals to protect and grow their wealth.

The conversation is a discussion of various economic and political issues, including the impact of immigration, the potential for a digital social profile to control and monitor individuals, and the implications of policies being implemented in the UK. The speakers express concern about the potential for these policies to lead to a surveillance society and the erosion of individual freedoms. They also discuss the impact of these policies on society and the potential for a shift towards communism. The conversation highlights the need for financial literacy and discernment in interpreting and responding to these issues.

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Transcript:

A monumental. Yeah. That's once ever and it's almost every week there's something happening. The entire system globally now has been based on debt and people are waking up to that. And eventually, you have to pay the piper. I mean, eventually. Do you? No, I think the piper dies. What does that mean the piper dies? The dollar dies? The dollar dies. America dies. We will lose our reserve currency. We get rid of the system as we know it. We've got so much debt that it's impossible to pay it back the US national debt just so pass 35 trillion dollars. You can add debt incrementally but you can add that exponential and th is is why I think we're so close to that precipice Central Ban k Digital Currency of this is how we're going to fix the system. Alright, Flyover family. You know, we're going to kind of tumultuous times and there's things going on that are far from us that impact us in a in a close way unlike ever ever before when you go to pay for something. You're like, why is this the way it is? It's not what's happening in your local community. Sometimes, it's nationally, sometimes on a state level. Some things are impacting you when you go to the store or on a on a global level and it's not accidental. Mm hmm. There is a very controlled demolition of the things that we hold dear whether it's your faith autonomy and your health and absolutely on your finances and the Bible says clearly with many advisers your plans will succeed well you need good advisers and you know for 25 years I have been very blessed to have somebody in our life that has not one but two PhDs one in theology and one in understanding how central banks and global finance works and in times like that that's the kind of adviser that I need he's the author of of not just not just surviving but thriving in the Economic Tsunami that we're kind of all experiencing. The one only Doctor Doctor Kirk Elliott. Yay. Yay. I'm so good to be here live in person. I'm here live. We love it. So this is the second time you've been in our studio live. That's this is the first time we've had a repeat and we're so glad that you're back. You're our first repeat live guest. Oh I love that. I know. Yeah. It's pretty exciting. It's it's it is weird being live here because you've got so many cameras and it's such a beautiful studio. It's like did you get my best side? Yeah how do I look? Yeah. Well well I think is more interested in what's in your head than than what's rapping it. Okay and go. Um it it it is an interesting time where I don't think any other point in history people that the mass population was as interested in what somebody with two PHDs is going to be talking about. They're kind of like I'm kind of more interested in the NFL season starting or I'm interested in. Right. But these things are impacting people in real life. We have we have people that spent thirty, 40, 4five, 50 years working and they're like, hey, this is my retirement. Why is it vulnerable to people outside I I can make all the right decisions but there's people coming you know against it there's people interested in these things I got friends that I went to high school with that are we don't talk a whole lot and they'll text me stuff about the economy like hey the doctor you guys talk what's what's going on with this and this is international symbol for texting everyone knows what you're doing exactly it's not folks that would be buying you know Edward Griffin book or you're reading Jekyll Island or doing these things but they're like hey this is impacting me you know for real And so I'm I'm anxious kind of talk about stuff because we're seeing every week there's something that would have been a monumental. Yep. That's once ever and it's almost every week there's something happening you know in the economy right now. And and more recently it's multiple things in a week or in a day. Mm hmm. But yet we're so distracted. Yeah. You know with with the Olympics for example. It's like well I could go my whole life without ever watching the opening ceremonies ever again. Are you kidding? I mean it was so bad. So bad. Right? Or or what's happening with celebrities or what's happening even politically which people think this is important like the the horrible governor from Minnesota, right? It's like, okay, this guy is bad news. Mm hmm. Right? Ideologically, everything and people are focused on that while at the same time, more bigger things than that are happening in the global economy spiritually, physically and and to me, that's just the distraction. Yes. Cuz you know what? If you're bad enough, you're you're you're not going to make it. Right. Right. This is what people always have to realize. It's like distraction, distraction, distraction and so things that we're talking about economically will actually impact you for for the rest of your life. It will especially as we're you know talking to a lot of our listeners they may be at retirement or close to retirement and so like what's going on financially this is a really big deal they don't have a lot of time to rebuild it right and one of the things that you had sent us earlier was about a market collapse and you had some graphs let's talk about that so first and we've talked about this before it was maybe a year ago The difference between a collapse and a crash. Yeah, right. Right. So, a crash would be like a car accident or like what I had on my bike. Right. Yes. Last weekend where I got. And you got hit by a car. Hit by a taxi. Taxis endeavor. Yeah. Not just. Ubers and tax. It was a hit and run. Yeah. It's like the the lack of respect for people. Yes. And property. It's just common. Yeah. Right? But but I got up. I made it. I'm I'm vertical. That's really good. I just think you're your guardian angel lost a couple of feathers there so probably so but you know so so you look at this stuff that's happening and and it is major the things that are that are happening right so so let's look at this these things happening in the economy I sent you four charts yes and they're they're so important so this first chart money velocity without getting into too technical on what that means because I could bore everybody to sleep with it but would you look the velocity and that's down where it is. What does that tell us in in in general rule of thumb? Nobody around the world wants the US dollar. If there's not velocity, there's not money changing hands. You know, like China's dumping it. Um Russia's dumped all the dollars a long time ago. They have nothing left. Mm hmm. So, the more that this stuff gets sold, the less there is to sell, velocity is coming down and then even in America, people are actually holding on to their Dollars as much as they can because what do we do? Do we invest? Do we go into the stock market? Do we go into the bond market? Do we do anything? We're let's it's human nature to just hold back. Mm hmm. Right? It's like I'm I'm going to sit on the sidelines and do absolutely nothing. Um which could be a good thing to do or could be a very dangerous thing. Right. To do, right? Because if you were to ask me five years ago, what should I do if I'm afraid that the stock market or bond market is collapsing or real estate or whatever. Mm hmm. It's like sit in cash. You know just sit on the sideline do nothing it's safe not anymore no not with banks failing not with what we saw in Japan last week the largest bank in Japan loses 21% of its total value in a day not in a year in a day that's what I was talking about things that happen far away impact you when you're sitting there in like you know Decatur Illinois or something it's like like how'd Japan impact me well these things do they they absolutely do and what happened in Japan to me is the outside of Central Bank Digital Currency coming I think it's the biggest thing to hit our financial world like ever and it's like what what do you mean it's just Japan some banks failing well when they decided to raise rates a quarter of a point they didn't actually do it it was the announcement that caused banks in Japan to fail 10 to 21% today the announcement the the U US stock market, you know, the the Dow Jones industrial average come down like seven hundred and eighty points in a day, right? It's based on that announcement because over the last decades, we're talking decades. Japan having zero interest rate, you know, policy. Yeah. People that were smart, hedge funds, countries, whatever. They could borrow from Japan for zero and and just invest it in like a US Treasury at four and a half percent. That's risk free. Right. Technically. Yeah. I wouldn't say it's risk free anymore but that's what a normal adviser would tell. Yeah. Yeah. So so to me that that yen carry trade which has been the global financing arm for everything around the globe for decades. $20 trillion dollars worth is about to go up in smoke. Wow. That was that happened on the announcement. Imagine what happens when it really does happen. Yeah. Cuz it's going to. Mm hmm. We can't be Pollyanna's about it and think, oh, they're they're never going to raise interest rates in Japan. No, they have to because they have to say the yen. So, this is a big deal. So, we've got that chart that we're looking at, right? We've also got. Can you break down real quick just for some of my relatives? Uh yen carry trade. Yen is the currency. Japanese. They use in Japan. Mm hmm. So, it's not like a dish or some kind of sushi roll. That is their currency. Right. Explain that phrase real quick. A yen carry. Carry trade. Trade. Explain it. So, people, it's like an arbitrage type thing. So, if you can borrow at zero, take that money which they you know basically you buy the yen at zero now they're carrying this trade for example you're holding it but that money that they give you you can put in anything else you could put it in gold you could put it in silver you could put it in US treasuries you could put it in real estate you could put it in whatever you want right so the difference then is the benefit that that investor gets from borrowing zero okay now what what made this so problematic is when they did raise rates and all this yen carry trade is there people got margin calls they were they were forced to sell everything like right to make sure that that the banks didn't lose money this is why gold and silver came down during this time frame as well because people were calling me off the hook saying Kirk you always said gold and silver goes up during times of chaos and and and it came down too it's because of the margin calls people were forced to liquidate by their brokers that had paper versions of it ETFs or whatever so then that caused the price to come down but we always have to say fundamentally did anything change nope nothing changed we still have unsustainable debt the political pressures all that stuff so it's going to go up so to me that is a buying opportunity definitely and it didn't like compared to everything else it just came down a little bit compared to everything else that seemed drastically just a little dick up it it did come down a little bit not a lot of it like everything else right so here's where it's safety right we keep it dreaming of it being six months ago yeah we were I know oh my gosh can you imagine if it got I know can you imagine got to twenty-six. Yeah. I mean it it came down to like in the 26 to twenty-seven range. Remember four months ago we were excited when it got to twenty-two. Oh oh yeah. Yeah. When it broke 26 I mean we're still $4 over where we were four months ago and it's like this is just a great buying opportunity. Definitely. That's what Into that one step deeper because People tend to think I say people kind of referring to myself like okay well the Japanese currency that's affecting people in Japan that they're doing it but with what you're saying it might be I mean this is I'm starting this out tell me if this is even true but like a policeman's retirement fund or something you know in Iowa could've that fund that they've invested in could have been buying the yen and investing it in real estate or in other things like sure that people all over the world are were buying the Japanese currency and then using that money to buy other things. Hedge fund big banks, pension funds, insurance companies, all of them would use this practice. As as would you and I. That's why it affects everybody all over. This is not like you're isolated. As would you and I if if we could, right? Because people ask me this all the time and say, Kirk, boy, what what gold and silver do They're growing so much. Should I take a home equity Line of credit at at 5 percent and invest in gold or silver which is growing like a thirty percent. Mm hmm. And my answer to that is I understand the philosophy behind it. That's the yen carry trade but my goal is to get out of debt. Right. It's like never add debt to invest in something even if it does grow because what happened with these people that bought the yen margin calls. Yup. They now had to sell at a loss, right? You you never want to go into debt to invest. That makes. Ever. That makes total sense. Yeah. Okay, so we had the first chart. Let's look at the another chart. Impress your neighbors. Yeah. Yeah. Or impress your neighbors exactly. Yeah. Don't ever go in debt to press your neighbors or impress anyone. That's the case. Or impress yourself, right? Exactly. Yeah. True. So look at this next chart. This just Is a real quick one it just shows how overvalued the S and P 500 is how much the stock market is up it has gone up so there's two reasons why things can go up fake money in input or real money input right it's just the stock market is a function of revenue okay that that they don't care what kind of revenue it is is whether it's people spending like you and me going to Best Buy or whatever and buying stuff causing that stock to go up or stimulus money okay we are not spending any money America's tapped out so therefore this chart that we're seeing is stimulus money that's drying up and and this is why it's such a big deal because the Japanese yen carry trade again I don't want to keep harping on it but That has been liquidity For markets around the globe for decades. 20 trillion dollars worth. That's drying up is is the yen now Japan is going to have to raise interest rates. Wow. Okay. Okay. Next chart. So I think there's four of them on here. Um how do we know that this has been stimulus money that's caused the stock market to go up. Look at the federal debt. Oh man. I mean where does that money go that they print? It goes to to stimulating economies in in markets that should actually come down or paying for entitlement, social security, Medicare, defense budget, everything They are printing money like there's no tomorrow. You can't even find on here. Normally, a normal chart would have two steps forward, one step back, two steps forward, one step back. There's noone step backs on our federal debt. And if You have to pay the piper. I mean eventually. Do you? No. I think the piper dies. Right? So I don't think you have to pay the piper on this one or else they would have times when presidents come and say we've gotta pay off this debt and you would see downturns on this chart where the debt is coming down. You don't ever see. You might see sideways. Yeah. But you don't ever see it coming down. So what does that mean the piper dies? The dollar dies? The dollar dies. America dies. We will lose our reserve currency. We get rid of the system as we know it and this is why I think We're so close to that precipice, Central Bank Digital Currency of this is how we're going to fix the system. We're getting rid of paper money as we know it. We will get rid of that debt. It's now just a debit credit system and people are going to be excited about that message but here's the danger in that message. You give up all of your freedoms. You know, as I'm looking at your books on the shelf here, it's like so much of it is about freedom. Yup. You get rid of all of that. Because when they have the ability like we've talked about maybe 30 times. Yup. To cut you off from buying, selling based on your ideology. That is a loss of your freedoms. That would come, that's what comes next. That is their solution. So, is it kind of like where people get scared? Is there money? Like, how am I going to be able to take care of my family so then they're willing to do whatever for for the government to take over. Kinda like maybe the Patriot Act after nine eleven. Yeah. Where that happen? Everybody's like, I'll give up all my right you know whatever you can do whatever you want to do you know to protect this country is that kind of what it's like here that's what it's going to be like and so you two are very well versed in in the scriptures you know Revelation thirteen where it talks about the mark of the beast no man woman or child can buy or sell unless they have the mark right so imagine you know that scripture and you're retiree and all that you have for income for the rest of Time until you die is your Social Security and the government says, David and Stacy, we realize that you're in retirement. If you want to receive this government money, you have to participate in the Fed Now app. You have to be part of this beast system or else we're going to cut you off. You you you aren't going to receive any money. What would you do? I mean, I'm not asking for an answer right but this is the question. This is the question people. That people are going to have to answer all the time and you're going to have so many believers that understand this is the mark of the beast but I need to feed my family. I'll just take it and ask for forgiveness later kind of a thing. Mm hmm. Right? I want to encourage people to never do that. Right. Right because God will take care of you when you're faithful. He's never going to put us in a point where we have no choice where we you know so so just don't we don't want to take that. The the Bible is clear about ramifications of these things. That is huge. Yeah. Take me back to when when David and I were newly married and it's been our whole marriage now 31 years of that nothing outside of God is our source like you know companies that we worked for you know even though the paycheck was coming from them David would always remind me they're not our source. Mhm. God is our source. And so even when we've come to what we've seen with COVID and people being like man do I take the vaccination? I'm going to lose my income. What about my money? All of these different things. Do I take it? Um it was like that company is not your source. If you decide that you're not going to take that vaccination and you leave that company then God will provide for you because he's your source. Never that company. Always. Yeah. Always. Just ancient family woke up to a story this morning of and I didn't really watch Olympics so I was kind of caught this story. Uh this guy Noah something anyway. He won a gold medal in track and field testing positive for COVID which is interesting because it's like okay we just shut down the world for this pandemic. Um most if you're watching by now ask yourself how many people you know died at home versus in a hospital you know remdesivir a lot of these things came out you know over time and they come up with a vaccine to protect you from something if you take this it will not transmit you won't never get it again now we have a president that's gotten COVID three times since his vaccine and a guy just won a gold medal testing positive for COVID not wearing a mask running with everybody it's like and I and I there I could be off on some of the details and then maybe they went through this protocol didn't test positive for after but he'd been sick all week but I'm like we sort of had this level 10 agreement to do whatever like I'll I'll take this experimental medication so I go to football game I want to visit my kids in college you know like we gave up a lot there's a lot of freedoms freedom speech freedom of religion all this stuff but but the the the first basic freedom is my body yeah yeah and and choosing you know if I came to you like hey Kirk try this you're like what is it yeah if I if we're something. I mean, hey, take a scoop of this. Try this. Well, what is it? Right. I'm not going to tell you. Well, a lot. I'm not going to take it. Before I put something in my mouth, you tell me what it is. Right. You know, is it spinach dip? What is this? You know, is it blue cheese? You know. Yeah. Like you'd want to know that's that's one of the most fundamental things before I open my mouth and you put something in there and tell me what it is. What is a bite of and that's just we're talking peanut butter versus spinach dip. You know, this idea of my body and people, we shut down a country lost massive amount of of middle in you know middle America businesses small businesses you know the independence the Costco's and those did fine Amazon did fine but mom and pop businesses went down and all of that was we'll take whatever you want to put in my body I they don't even want to tell us what's in it for 75 years it tells but but I'll do it if I can just go to the football game yeah and so when we're talking runner in the Olympics yeah participated yeah I mean he won a medal so was it that bad this COVID is the main example throughout history where the fix was worse than the problem Joe Biden test positive for it in Las Vegas and I watched him getting out of his limo and get onto the plane. Without a mask? He had no mask. He's with his security and shaking everybody's hands as he goes to get on the plane. I'm like I where's your two masks man? You know it's like it's like there was this we treated it as something and I'm not minimizing it. I I've you know obviously for a lot of people this was a big thing. But we're talking about something with the smallest amount of discernment you could wait out. Yeah. And and say you know I'm going to abide my time on this a little bit. This too shall pass. This too shall pass. Right. When you're talking about somebody's social check and they're on a fixed income and you gotta get it like that's that's that's at scale many magnitude times more serious than what we experience with the pandemic because it's like oh man I'm barely making it now you're telling me I'm not going to get that you know I mean how do we begin hedging against that in a in advance as a preemptive strike I I I want our listeners to be the smartest most educated have the best conversations in the church foyer at the water cooler wherever they're at and and be a source of hope in those conversations And so hopefully you know they're going to take what we're saying today to heart. I I hope so. It's like when when you read through the scriptures as a kid and as an adult it's like who in the world would believe the anti Christ. You sound so bad. Yeah. Right? It's like. Exactly. How could this even come to pass? Well something as simple as what we just talked about. I see how that would be easy. Yep. Yep. To you just snooker people into doing something right? Because you create a crisis that's so bad that people will now want your solution. Yeah. And that that's where that's where we are. So how do you how do you get to that point everything that we've been shouting from the rooftops for so long tangible assets get you out of that paper system it gets you away from that digital currency it gets you away from that oversight and the complete intrusion on your privacy and everything and it's not only is it a good investment that's growing a lot it's a way to protect your freedoms I mean look at this chart of of gold yeah right so so what is that tell me it's like people would say well Kirk near an all-time high should we buy it? Well, depends on the fundamentals. Mm hmm. What caused its growth? Unsustainable debt, political pressures, you know, chaos, uncertainty, change, you know, all this stuff, right? Has any of those things changed? No. No. So, therefore, that's going to continue to go up but that chart is a reflection of people's perception on what they trust or distrust. Mm hmm. And people are not going to start trusting the government anytime real soon. No. That is going to go up. The there's imbalances in the economy. So, why would we not then go into gold? Mm hmm. Get this question all the time. Well, because silver's outperforming. Simple as that. If something's equally as safe and I would actually say silver is more safe. Mm hmm. Is it because it's used for more things? Yeah, it's used for more things exactly right. It's not just a financial metal like like gold, Central Banks buying it to back their currency. Silver actually has industrial demand. So, it will act like gold in that financial capacity but it also is used. Mm hmm. For so many things, right? So, therefore, you've got an extra built-in set of demand for it which makes it more safe in my opinion. So, you actually sent us an article about the industrial demand and then in that article, it says in about 20 25 that we might not have silver. Right. So, when you talk about that. That's a great article. Let's go over. So, so this was in the Jerusalem post this article. Mm hmm. So, in demand. We're not even talking about investor demand. Industrial demand for silver gone by 2025. So, as a firm, this is what we do, right? We're calling the depositories every day locking in millions and millions and millions of dollars worth of of silver for people. Yup. They're running out of certain things like thousand ounce bars. We never know if we can get. So, we haven't done them in in forever but when we moved to Texas, you know, from relationship there well over a year ago. We have an amazing relationship with the Texas Precious Metals Depository and the refineries, right? So, we can get hundred ounce bars for the same price most people can get thousands. Wow. That that's price per ounce. Price per ounce. Yeah. That's what happens when you become really big. Yeah. That's huge. I mean, we're a big company. Yes, you are. But we don't it doesn't feel like it to me. We don't act like it because we're so focused on relationship. Mm hmm. But that so that's why we do hundreds. So, Look at what silver is used for. So the industrial demand various high tech industries are skyrocketing like electronics, photovoltaics which are solar panels. Okay. Um you've got defense electric vehicles. Electric vehicles on everybody's throat. Yeah so so defense and aerospace are massive users. Okay. Of silver. Mm hmm. I mean you turn on the news for any five minute segment and you're going to want to put your head in the sand thing. Is there war everywhere? Right. Oh. Yeah. It seems like there's a war everywhere. Yeah. Everywhere. So these missiles, these torpedoes E take about 11, 000 ounces of silver and it's not like when that blows something up to smithereens, right? That you can go back and reclaim it. It's gone. It's not like aluminum that you can recycle. Right. Once silver is used, it's done. You can't reclaim it. Mm hmm. So, you've got all of that demand side of the equation. Now, you've got the supply side of the equation. Mm hmm. Meaning, the mines and what what is up with the mines. All the easy silver to be found has been found. So, you're going to have to go deeper into the earth, deeper into the jungles, build bridges, build roads, get permits from government who might hate the stuff. Yeah. Right? It so it's running out and the projections are by twenty twenty-five. It will run out. So, here's where it's so exciting for everyone of the flyover viewers who has actually allocated into silver over the years. Mm hmm. It's like when this happens, this is what we've been waiting for because I'm not I'm not concerned about silver running out where manufacturers can't get it. Right. Why? Cuz higher prices will shake out inventory. Sure. People will sell. People. From people like you and me who own it. Right. Right. So it's like alright well it might be $30 an ounce. I'm not selling. I want it to go up. Right. But then Sony needs to place an order to make their LED TVs and their flat panels and everything else or the Department of Defense saying we've run out of missiles. Right. Right. We're going to need more so then they start offering higher prices. $50 an ounce. $80 now. It's 1 $150 now. It's $200 now. It doesn't matter. Right. So it doesn't matter what the government because they'll just print their way out of it. Right? They'll just pay whatever. Doesn't matter to Sony because there's a couple ounces of silver maybe in an LED TV. I don't know how much but it's small. Right. Well they're just pass it on to the consumer. Mm hmm. So here's where we when we own what is needed we get to make bank on that. Oh yeah. Pretty much. This is why people invest with wisdom, with discernment, with sound mind, right place at the right time. This is where we're at. Man that's so let's talk about silver from A to Z I got some examples here because this is something that people this is 100 ounce it's heavy it's heavy by the way it's dense it is that's a 100ounce here yes here's 10 ounces okay silver here's a1 -ounce coin there's whole package of this so a lot of people never purchase silver as an investment these are 10 so this this they they come in lots of depend on what's available I guess at the time so yeah these are the displays that we got here. So, these are all tens and it could get a ten that looks like this. Yeah. So, you can get a hundred. You can get, you know, slightly less than 1thousand ounce. You know, it's like a loaf of bread. Yeah. Um so, when you look at these different things, let's walk this through because a lot of people are like, you know, wherever you seen silver, a piece of silver jewelry when I invest in silver. What what is this all look like? So, let's go from A to Z. From the ground, where what does it take for me to be holding this? When they're, when they're digging around, do they find, is this how it looks and they just chop off a block of it like you're getting blocks of ice out of the ocean like how do you no it's not like the movie Frozen. Yeah. Where there where there's still lots of ice you know. Uh where does this come from and what does it take to get it and then I guess juxtaposed that against what people think is money which is a piece of paper that's just in the computer that the government says oh we need another trillion of these every quarter they're making another trillion dollars yeah you know you always correct people in business because they'd be like I want to make money well you don't make money no only the government can make money right they just manufacture you have to earn you have to earn money by increasing your value to the marketplace. If you want to make more money, find a problem and then solve it. Yeah. You know, and most most people that created wealth. You know, people had trash. They want to develop a company and we'll go door door and pick up their trash for em, you know? Um solving a problem, increasing your value to the marketplace. If you got a young kid and he's working at a warehouse, I want to make more money, well then crush your current job. Whistle while you're doing it, show up five minutes early and stay later if there's an opportunity. Make yourself invaluable. Start learning someone else's job while you're doing this one and don't worry about getting paid for Mm hmm. You know, and then like, man, we can't make it without. Bob, you know, it's like you increase your value. They do not want to let you go. You know, you're the last person because you have so much value that you bring there and then other people are offering you better jobs. That's a economic ladder that America's kind of kind of based on. So. Correct. So, you have to earn money. Only the government can make money. So, let's let's position where does this come from and how does it compare to what can be just printed in the sky and why is this valuable? Yeah. And why is it valuable? So, I'll start with the paper version for right? So, when a government needs money, they just decide. Mm hmm. We need money. Yup. And then they they take the paper, they turn it into cotton or whatever and they make it into a crisp-looking build and they put it through the printing press and make as much as they want but there's still a process to that, right? You have to find the trees, cut down the trees, make it into mush to make it into paper, right? So, that's what happens. Digital where we're going is even easier because all you have to do is have some nerd with glasses like mine I I look like a nerd. It's like sweet. That means I'm smart. Yeah that's right. So all they do is press the button a bunch of times on on the computer add a bunch of zeros to the money supply. Boom. It's done. Less than a second. Wow. Very little work in that. This is why digital money is more dangerous than paper money even. And paper money at one point was backed by gold and silver. Yes. In 1971 that all changed. Well go a little bit farther back. So the federal Reserve Act of 1913 got got rid of any kind of gold backing for consumers. Okay. Right? So be back then you could go to Sears or whatever was around, right? Mm hmm. And use gold or or $20 bill. One ounce of gold equaled twenty bucks. Okay. So then, when the Federal Reserve Act came. That was 1913. That was 1913. No more consumer use of gold. You couldn't use it anymore, right? They confiscated it in the 1930s. Wow. So then, you fast but you could still use gold for international settlement if you were a country. Okay. And this is what Nixon what you referred to. Nixon closed the gold window completely in in seventy-one because France wanted repayment for of a debt and they said we want gold. We don't want your stinking dollars. Okay because they knew. Yeah they knew that it stunt. Yeah. Right? And so. Yeah. So Nixon gets blamed for all the inflation that we have. But I understand his rationale. It's like no I'm not going to give you are are valuable gold. We'll give you back stinking dollars, right? So, close the gold window altogether. Mm hmm. So, we could keep it. Well, that caused massive amounts of inflation because now, there is no backing of our dollar except until 1973 then the petro dollar, we started backing our currency with oil. Okay. Yup. Now, that eliminated January of this year when the OPEC nations, most of them started, you know, to be members of bricks. Mm hmm. So, 51 years a row, we had an agreement with OPEC that that that was going to be the exchange and then that was sort of what what established a stability to the global currencies with the US being the the gold standard. Yeah, monumental decision when when Kissinger in this 19 seventy-3 said, hey, Saudi Arabia, well, you have to trade in US dollars in exchange for oil. Great. That spread to the other OPEC nations. Built-in demand for our currency in exchange for military protection. Okay. That was a trade off. Mm hmm. So now, with Brit, you've got China, you've got Russia, big militaries. These OPAC nations don't need US military anymore. So they just went there. Right? So this is why it's over. Yeah. That's why it's game over. But that's that's real easy to create digital money. Now how do you create this? Now can can Joe Biden or whatever president write an executive order and create an extra million ounces of and just so I just want to say this because I know people are going to be listening today saying Joe Biden is not the president. It's just he is we we know that squatting in it we know that all those different things you're just saying the administrative state behind him but he the president signs the paper yeah that somebody put in front of him and hand him the pen so can they can he just say because he could they could add another trillion dollars they do it every 90 days could he add another trillion ounces of silver no because he's like hey boom bippity poppity poof we got more silver mean he can say that he wants to but it's not going to be there it has to be create obvious thing but I think most people miss that's why I don't keep driving this this home. This is a thing. Mm hmm. I can touch this. They can't just be poof. We have a million more of these. Correct. You can't just print them. You can't you know, do a 3D printing of em or. Yeah. This is a real thing. It is a real thing. So, so how do you how do you get there? You've gotta have like satellites and all this testing and they tech geological formations in the Earth and say, okay, this looks like a good place for a mine. Then, they they get the miners. They pull the permits from the different countries which most countries don't give them right now. Yep. So then they go in. They dig miles into the earth. They try to see where can we find this strand of of ore. Mm hmm. Then they start pulling it out. They put it on trucks. They drive it to the refinery. They chunk it off. They melt it down. They purify it so they can make it into a coin or a bar. Okay. Right? So that's the whole process but getting to that point is very difficult. Um it's not like you can say we think that this part of the mountains in Nevada might have silver in it well it takes like 10 to 20 years literally new estimates to open up a mind to production wow so you're you have to deal with what you already have yeah and they have to be really confident that there's something there imagine spending 10 years and it's like a dry well right it's like what some of these pictures are showing you know it's it's it's a big deal yeah now there's very very very few exclusive silver mines in the world. Okay. It's a byproduct of copper mining. Okay. Cuz the silver strands and the copper strands tend to run together. Okay. Okay. So copper mining is is in a copper is an industrial metal used for plumbing and everything else. Yeah right. That's a people Detroit is still the air conditioning. Yeah. So what we're seeing though is with the global economic slowdown the copper miners are shutting down. So therefore there's not as much silver production coming out of the earth either. So this is the problem moving forward is we don't have the supply. Mm hmm. And even if they wanted the supply. Same thing goes for a gold mine. Mm hmm. It's like it's going to take a decade to get something operational. Mm hmm. And a lot of companies don't want to take that risk because what if what if the geological surveys are wrong? Right. What if we find something and we're expecting this vein to go down deep into the earth and we could mine it for the next 40 or 50 years and it turns out just surface level and they're done. I mean, there is a huge risk. Yeah. In the opening up new mines which is why I'm not I'm not concerned that they're going to open up new mines that there's all this gold that's under the Vatican or some ancient Chinese city and it's going to come in and it's going to impact the price of gold. It's like, you know what? It all the gold evermind in the history of the world that's known to fit into the size of two Olympic swimming pools. It's not like it's that big of a market. Now, very very valuable. Right. And and when you add the depth and the length and the width of the I mean those are big. Sure they are big but still all of it that's been mined. Mm hmm. Okay let me ask you a question. You'd said 1913 with trading with silver that used to be able to do that. Uh do you think that's going to change? Cuz they stopped that in in nineteen thirteen. Do you think that will change in the future? Yeah because I think that the system that we know it it's it's broken. Mm hmm. People are real it's broken. The entire system globally now has been based on debt and people are waking up to that. Mm hmm. It's like we we've we've got so much debt that it's impossible to pay it back. So, to to kind of put into perspective how much thinking debt that we have, 1776 to 1980 when Ronald Reagan took office, that's 204 years. Mm hmm. We went from zero to 900 billion dollars in national debt. Okay, to to Reagan. From Reagan to Obama, we went from from 1 trillion to 11 trillion in national debt. Wow. From Obama until now, we've gone from 11 trillion to like 3-eight trillion, right? So the so the debt it's a hockey stick. Yup. And now, you can add debt incrementally but you can't add debt exponentially. Wow. And that's where we've now come to this point of critical mass which is like we talked about earlier, it's time to pay the Piper. Yeah. Well, the Piper, you can't pay the Piper. There's too much debt. It's too much. It there so the piper just needs to die or you just need to reset. You just need to file for bankruptcy call it quits. Mm hmm. But when you file for bankruptcy as a country saying we're not going to pay off any of our debt. What's that do? Well, it makes everybody mad at you that's invested. Yeah. Cuz they lose. Yeah and some of the people that are invested in US dollars are like China, their nuclear power, other countries that are nuclear powers. It's like you create geopolitical conflict in war when you start to steal that much. Mm hmm. But ultimately, every country will run out of money. Like Ukraine did. Ukraine just decided two weeks ago it's like we're not going to pay off any any of our our debt to foreign holders of it. Wow. I mean it's just by decree. Hm. Well it's going to take people on. Yeah it is. It's not just Russia. Yeah. It's going to be a problem. Yeah. Wow. So the thing I've I've liked about silver and this one of our shows like it we we'd always had this allotted. We're going to take a piece of everything we make and move it from fake currency to something tangible monthly. Um but when I understood one day we're talking about like what's the bottom of it you know the floor you know because Blockbuster stock you know it was one of these episodes sitcom we played one time this kid inherited a million shares with the Blockbuster stock or something you know and it's like yeah it's worth nothing yeah a lot of things have a really low floor like zero it cost like we've shown pictures of guys mining you know for them to get out of bed and go to work they have to be paid and fire up the trucks and put diesel in the bulldozers and whatever you know I don't know exactly what all goes into to mining this stuff but there's but there's a certain amount of cost that they're just not going to get up and go to work for yeah if it's so it it it on one of our shows said it cost it cost about $18 an ounce to get it out of the ground and turn it into this right and so it if if they just stop going to work that price skyrockets because then the supply is cut so it it made sense in my head in a real teeter totter kind of way that of all the things we can touch in the whole world I don't know that Apple or any of these companies have a floor of a certain amount well I know they got a floor of zero for sure well so they kind of do like if you if you follow Warren Buffet you know what kind of investors he's a value investor he looks at the book value of a company the the actual cost of other plant, people, equipment, product, everything, right? It's like, okay. All the inventory, the buildings that these companies have, this is what they're worth. Well, most companies on the stock market trade for massive multiples over book value. Mm hmm. Right? So, but when a company goes bankrupt, they go into forced liquidation. Even if they had something of value, it could be worth absolutely nothing. So, even though people think, well, they've got a lot of equipment so. Right. Yeah, but in the bank yeah the the in the bankruptcy court the judge is going to say well you're going to pay you back at two cents on the dollar yeah whatever it it so silver is different in the sense of it doesn't sell for huge massive multiples over what like a price to earnings ratio like a stock would it is what it is if it if it dips below what it cost for minors to take it out of the earth they will simply shut down operations that number estimated right now is the 19 something dollar range with the cost of diesel fuel equipment insurance people permits all land everything right so 19 something dollars per ounce well we're at 27 let's call it so that's pretty much your floor if you go too much below that mine are shut down and then what happens there is no supply coming out and so when there's no supply and equally high demand ultimately the prices are going to go up the mines will open up production again but they don't they will shut down if it goes too much below that that cost of acquisition And that's where you got the medical equipment and TVs and military equipment and and all these government force mandates for solar panels and you know all these kind of things. Yeah. So we kind of we're talking A to A to Z. We made it to like B or C. So how did this get here on my table? Like what all places could this have touched in the process and someone like yourself you know are are you calling the the guys that are drilling it? You know is there is there like a you know do you get gold bars at cost you know. But you can get gold bars at Costco, right? So that's also is that where you get them? No. I I do go to Costco and then bring them back to your office and and charge something for your house. We we go directly to the depository directly to the source, right? Cut out all the middle man. So once these things are made, the depository will actually contact the basically the refineries. The refineries work with the mines. So the mines send their product, their raw silver to the refinery, the refinery makes it into something that the refinery then sells it to the depository depository sells it to us okay right and that's how you ultimately get it so whether it's us or any other dealer gold silver dealer that you see on podcast everywhere we all get it from the same source right nobody's going directly to the mines they go to the depository system so now some companies may pull stuff back you know if let's say you had silver and you sold this to me so if I had an inventory I could pull it back into my own inventory and just sell out of that inventory well I don't know got it. Right. Well, what if it's lead? Mm hmm. And it's just silver plated and I then sell that to somebody else. There's not to me when somebody sells out of their own inventory. It's not safe. Mm hmm. So, that's why I I never have had an inventory. I I deal directly with the depository because they have all the testing to make sure everything is real. Sure. That it's authentic, that it's not phony baloney stuff, right? So, so they drop ship from the depository. When you want to sell it back to me, Well, then, I give you the shipping instructions to go to the depository. So, they can test it on the way in. So, everything is authentic. Mm hmm. So, that's where the process comes in and and all the different players. You've got mines, you've got refineries, you've got depositories, you've got the dealer like us or anybody else and then you. Okay. So, that's that's how it works. Okay. So, there's a lot of people in this space. Mm hmm. You know, there's you know, we drive around. You see a shop. You know, we buy gold over you know they sell stuff like I'm not sure exactly what those guys do have not been in one of those I was at an event and there was a dude selling collectible things you know and he had everything from like you know rare like trinkets, you know, and like bullets that were like from different wars and you know, all kinds of different interesting things. One thing he had was this. It it's it's it's two ounces of silver. Mm hmm. With a picture of Donald Trump on the front. Mm hmm. And it's like cool. The vendor tale. I'm like, that's kind of cool because there's not very many of those around and you know, maybe like, you know, 50 years from like great grand kids or something be like, it's kind of funny. You know, remember this guy, you know, be like having a Lincoln or something, you know, whenever in the future. Uh this was not something I did as an investment. I bought it because I thought it was. Right. If if anything else funny. Cuz it was way over what you would pay for silver. I paid about double per ounce of what this would be. Right. Actually I paid credit more than this. This was $80 an ounce. But here's the my point in bringing this up is this is a one ounce silver coin that that is like say worth twenty-seven dollars. Worth $30 or whatever. $30 or or whatever the the price. One reason I'm so passionate about this area is because I it's not just Stacy and I my kids move fake money into silver yeah my in laws my everybody that I I I can have their ear for a minute it's not about our relationship or anything else I literally lose sleep over the idea there's not enough of our listeners protecting themselves and it's like we're headed to a winter and they're like I don't need a coat you know and I know it's tough out there but I still look at people I'm like man if if you've bought soda if you've donuts if you bought anything organic coffee you know like you could save up enough to buy an ounce of silver I'm sure in people's budget on cigarettes or subscriptions on their phone to Candy Crush or whatever they probably have spent $27 you know so if you do that once a day or once a week or whatever over the last three years that we've talked about this or realistically because you say like when you get from the depository you really need to have about $500 is that shipping and all of that. Because they ship it for free. Yeah. Right? I mean technically you could buy one ounce but I want to be fair to the depository because they do such a huge service and they ship everything out for free overnight. Yeah that's amazing. But I don't want a nickel and dime. I don't want them to lose money by doing it. Which makes sense. So even $500. So $500 I would say if you don't have 500, then just save up. Until you do and now if you're going into gold well it's like $700. Right. Right. It's like because we're not going to cut it in half of the half. Now, you'll have people say, well, I can sell you a tenth ounce gold eagle, quarter ounce, half ounce and I can get gold and smaller increments. Those every time you go smaller in size, the premiums rise. Mm hmm. And my goal in in allocating people into metals is minimize your cost per ounce. Right. Right. Don't maximize it. Right. Something. Right. Yeah, I mean. This is a perfect example. That is a perfect example. Now, my I love Trump. It's not worth $80 an ounce. Mm hmm. No, in fact. You wouldn't be able to sell it for that unless it was just like something so rare. But when you're hammering the story though if this when several times at live events. Basic stories where people paid a certain price per ounce because they were buying a Storycoin there's been multiple times I've stood in front of somebody that's at retirement age and really tears coming down their face like how am I ever going to recover whether they they bought it from some dealer and did not get the best price per ounce now eventually over time it probably will go to that and then they're just a break even. Yeah. But one reason I hammer this is because it is it's not an in the that people understand real well and there's a difference. Buying a diamond or something. Yeah or buying up a computer or buying a used car if you'll know or something. You know it's like there's a difference between buying this coin with Trump on it and buying one ounce. Right. So let's say you bought the this one for $27 an ounce. And you bought this one for $80 an ounce. Which I did. And you wanted to sell it. What what is the price difference? You're going to get about the same price as this about $27 an ounce. Because that's what worth. Yeah. Yeah. So, what happens with that fifty3 difference? Ooh. It just goes away. So, will you ever recover from this? Yeah. Once silver hits $80, you're basically at break even on this where this one would be up fifty-three dollars. Right. Right. So, it's like never never overpay. Now, because this is worth basically this, I mean, you could drill a pretty hole in it and be have a right. Hey, maybe I could I could Kentucky this isn't like a plastic thing. I'm just going to have this in like a shoe box and die. They're going through all my junk and they're like, ugh. Look at that. No. Now, it's not wrong to buy those if you're a collector. Right. Everybody's different like you wanted it because it looked cool and if you've got this collection, this is where I I always encourage people. Don't view a collection as an investment. Right. That's good. Because a collection, you're probably going to keep forever. Pass it on to your heirs. You don't care what the value is. Right. But if you want to invest, your goal is to buy a low, sell high, make sure you're in the right place at the right. Stacy's mom has a whole bunch of precious moments figurines. Yeah. I don't know what she could sell em for. She's probably never thought about it. Never going to sell em. Yeah. Cuz she already knows who she's going to give it to when she passes away. It it's it's that kind of thing but that's not her retirement. Right. Right. She didn't tie up her her financial future and precious moments figurines. They're in a what do you call a curio cabinet? They're on on display. You know, I could do. So, Joel, I could attach this up like That would be big ring. Oh, that would be big. I feel like a serious Trump fan behavior. That's funny. So, this the bouillon, this is the key and this is all you sell. Is that right? Is is. That's all we sell. We don't sell any is why we feel so safe promote use it as an avenue kind of people are going to be safe if I lose any sleep at night it's not about people moving into silver yeah with you it's but people not doing it right so people think this is bullying this is bullying this is bullying this is too a coin can be bullying it's just modern day issue low cost pronounce so even though it's a 1 ounce generic refinery round it's still bullion and so rather than doing this or a silver eagle or Canadian maple leaf or something like that. It's all the same silver. Mm hmm. Comes from the same refineries. They would just take this completely blank like a washer, right? No design on it whatsoever. The refineries going to keep half of em, put their own design on. They're going to sell half of em to the US mint where they put their design on it and then whenever like anything, whenever the government touches it, they make it more expensive and worse. Right. Right. So, I would rather pay less cost browns, maximize my ounces. Make sense. Yeah. That makes total sense. Okay, so then, what I like about working with you all is the percentage that because obviously you gotta make money. So, you're going to pay a percentage upfront for your cost but not when you sell and a lot of times when you're dealing with buying silver or gold, there is a percentage of people have to pay when they sell it which now you're paying on gains. Right. So, like a realtor or a stock broker, right? Most people are used to commission when you come, commission when you go, and they forget about you in between. Mm hmm. This is where we are significantly different. We don't charge anything when you liquidate. Zero. Zero is zero. That's. I don't care if a $10, 000 investment grows to a million. It's still zero. Wow. Where industry wide, let's say the average is 4% when you liquidate on the bank. It's actually more but let's just say 4 percent. Mm hmm. So, you had $10, 000, it grows to a million. Well, you gotta pay 4% on a million. A lot. Yeah. That's a lot. Yeah. Right. I mean, we're talking $40, 000 in commission, right? Where I'd rather just pay zero. So, the way that we operate is 8 percent when you purchase 8 percent on top of the wholesale. It's not on top of spot price because every dealer buys and sells from the wholesale price at the depository. Mm hmm. 8% on top of that, 0% on going, 0% when you liquidate and to me, having been in this industry for almost three decades. Man, it's like it's clean, it's transparent, There's very few moving parts to any of this because I want the client to succeed. People who sell that want themselves to succeed. Sure. Right? Because the client won't. Right. Were you hating on Trump now? I love Trump. I just wouldn't buy a Trump coin. You get Elvis or yeah. Yeah. I that's really important for people to know as well but I what I also like about working with you is the relationship where when it's time to sell, let's say that now we're going to move to gold or we're going to do something else, you help walk to that process as well. It's not like Now, I gotta try to sell my, who am I going to sell my silver to? You walked that process with us. Yeah, since since I don't carry an inventory, to me when somebody wants to liquidate, it's just a few key strokes to the depository saying we've got 872 ounces coming from Jane Doe and they buy it like that. Why? Because it's a global commodity. Right. It's used for Department of Defense for for electric it's so to me there's always built-in demand for it. If I wanted to sell this. Mm hmm. And you said, Kirk, I've got this this two-ounce Trump coins like, hmm. Well, I don't have anybody that's going to buy. Let me make some calls. Right. Right. So, then the dealer with that you bought it from would have to call Jane Doe and John Smith and and whoever say, hey, if I got a deal for you. Mm hmm. No, I haven't seen these in a long time but we have like 500 of em from this client and so, see, well, I'm not interested. Mm hmm. It's like, yeah, now what? Mm hmm. Right? So, some like that, the dealer that sold them has to make a market for them most of the time. S