The Charlie Kirk Show - Surviving Skyrocketing Inflation w/ Collin Plume
Aired: 2022-03-02
Duration: 36:22


=== Gold Backing and Inflation (09:13) ===

[00:00:00]  Hey everybody, today the Charlie Kirk show.
[00:00:01]  Colin Plume from NobleGoldInvestments.com.
[00:00:04]  We talk about inflation, cryptocurrency, and what you can do to hedge against inflation.
[00:00:09]  Email me your thoughts directly, freedom at charliekirk.com.
[00:00:12]  If you want to support our show, go to charliekirk.com slash support and get involved with Turning PointUSA today at tpusa.com.
[00:00:20]  At Turning Point USA, we are playing offense with a sense of urgency to win the American Culture War.
[00:00:25]  That's tpusa.com.
[00:00:26]  Turning point USA is the place where we're starting high school and college chapters every single day to make sure your kids and grandkids share your values.
[00:00:33]  Turning point USA, we are making hope happen.
[00:00:36]  So get involved today at tpusa.com.
[00:00:39]  That's tpusa.com.
[00:00:40]  Email me directly, freedom at charliekirk.com.
[00:00:43]  If you want to support our show, go to charliekirk.com slash support.
[00:00:46]  Buckle up, everybody.
[00:00:47]  Here we go.
[00:00:48]  Charlie, what you've done is incredible here.
[00:00:50]  Maybe Charlie Kirk is on the college campus.
[00:00:52]  I want you to know we are lucky to have Charlie Kirk.
[00:00:56]  Charlie Kirk's running the White House, folks.
[00:00:59]  I want to thank Charlie.
[00:01:00]  He's an incredible guy.
[00:01:01]  His spirit, his love of this country.
[00:01:03]  He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
[00:01:09]  We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
[00:01:18]  That's why we are here.
[00:01:21]  Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandTodd.com.
[00:01:30]  With us is someone to help us unpack everything happening with inflation right now from Noble Gold, one of our partners.
[00:01:36]  We do a lot of things together, Colin Plume.
[00:01:38]  Colin, welcome to Charlie Kirk Show.
[00:01:39]  Charlie, thanks for having me.
[00:01:40]  Excited to be out here.
[00:01:41]  So let's just kind of talk in general about what's happening in the world.
[00:01:45]  There's been a massive increase in dollar bills, a tremendous increase in the money supply.
[00:01:51]  Let's just talk a little about just economics in general.
[00:01:53]  What does that usually mean?
[00:01:55]  Well, inflation is a hot topic right now across the board.
[00:01:58]  And interestingly enough, today it was a number that made a lot of sense with gold and the dollar.
[00:02:04]  Last month, they said inflation was above 7%.
[00:02:07]  Gold is just above 7% in terms of growth this year.
[00:02:11]  So I think there's definitely a direct correlation between all the inflation that we're seeing.
[00:02:17]  It's not going away anytime soon.
[00:02:19]  Obviously, we know that.
[00:02:20]  And gold and silver prices are reacting positively to that.
[00:02:24]  So you see gold going up because gold was pretty stable for about a year, right?
[00:02:29]  It was stable last year.
[00:02:30]  Yeah, it was a little bit, you know, it was kind of trading in the 1780, 1800 range.
[00:02:37]  Today we broke 1940.
[00:02:39]  Yeah.
[00:02:40]  And then, you know, silver obviously is up almost 4% today.
[00:02:45]  So anytime you have any economic insecurity, potential war, wars happening, people are going to dive into assets that they feel comfortable with.
[00:02:56]  And gold and silver are obviously going to fit that.
[00:02:58]  Right.
[00:02:58]  So talk about just in the last week, have you seen an increase for absolutely.
[00:03:03]  Yeah.
[00:03:04]  No, gold demand has been through the roof over the last week.
[00:03:08]  Silver demand has been very high.
[00:03:10]  And the thing about silver right now that's interesting is, see, in Russia, they obviously produce and mine a lot of precious metals.
[00:03:19]  They do gold.
[00:03:19]  They're very big on gold buying.
[00:03:21]  They actually just announced they're going to buy more gold this morning, but they mine a lot of palladium.
[00:03:27]  And palladium is used in catalytic converters and a lot of different manufacturing things that are out there.
[00:03:34]  40% of the palladium in the world is mined in Russia.
[00:03:37]  Where is that palladium going to come from now?
[00:03:39]  Obviously, it's not going to get moved the way it was.
[00:03:41]  Palladium's reacted positively to that.
[00:03:43]  So I think we're seeing a situation where a lot of these precious metals, we knew with inflation they were going to go up, but now with this, with what's happening in Ukraine and Russia, it's really putting a hamper on supply.
[00:03:55]  And we're going to see some big supply issues and precious metals over the next six months.
[00:03:59]  Yeah, so just talk in general about kind of, you know, how we see historically the debasing of currency.
[00:04:05]  Like this is not, this is nothing new.
[00:04:07]  You know, regimes have a tendency to do this over a period of time.
[00:04:10]  Yeah, I mean, I mean, we could go back, obviously in history, we can go World War I, a great example.
[00:04:14]  And when people talk about really heavy inflation, you know, there was a thing called wheelbarrow inflation where after World War I, Germany was broke and their currency was worth nothing.
[00:04:27]  This is the first time, I think, in modern day that inflation is getting reported closer to what it actually is.
[00:04:35]  I mean, if you go back and you take the CPI numbers of what it used to be when Reagan was in office, inflation is well over 15%.
[00:04:42]  Government's reporting 7%.
[00:04:44]  Do you think it's underreported usually?
[00:04:46]  Oh, absolutely.
[00:04:46]  It's always absolutely underreported.
[00:04:48]  So now we're seeing it because the things that people are buying every day, the goods, food, I mean, obviously gasoline prices are going through the roof.
[00:04:56]  You know, these are things people need every day to survive.
[00:04:59]  These things are going up in an astronomical way and it's making it very difficult for people just to live day to day.
[00:05:06]  So they're looking for items that have a limited supply that are going to perform well in a safe environment so that they can survive and pay for their day-to-day living.
[00:05:17]  So everyday people are kind of confused by all this when it comes to inflation and like how to navigate it.
[00:05:26]  The federal government used to be on a gold standard, but isn't any longer.
[00:05:30]  Talk about that.
[00:05:31]  Yeah.
[00:05:32]  So we went off the gold standard in 1971 under Nixon and inflation ever since we went off that has gone through the roof.
[00:05:40]  The last heavy inflation period was the late 70s, early 80s.
[00:05:45]  We saw inflation, you know, 12, 14, 15%.
[00:05:49]  So those are numbers that, you know, in modern times, we haven't seen.
[00:05:53]  I mean, basically since 9-11, the government's reported basically 2% or less.
[00:05:58]  Do I think that number has been manipulated?
[00:06:00]  Absolutely.
[00:06:00]  I think it's been much higher than that.
[00:06:02]  But that's what they've been reporting.
[00:06:04]  So now you have a situation where different currencies across the world are being devalued because we're trying to spend our way out of this situation.
[00:06:14]  We're just basically monetizing debt.
[00:06:17]  So you have a situation where the new administration is trying to create more debt with their new bill and this infrastructure bill that they're doing.
[00:06:25]  We have heavy inflation.
[00:06:27]  And now we have a skirmish going on in Ukraine and Russia.
[00:06:31]  So there's a lot of things happening right now that could potentially hurt our dollar even more.
[00:06:38]  And so that's why alternative investments like gold and silver.
[00:06:41]  And that's why crypto has really played a pretty big role in what's happening.
[00:06:45]  You guys have some crypto wrinkles in what you're doing.
[00:06:48]  Yeah.
[00:06:48]  So my digital money is our crypto arm.
[00:06:51]  And what's interesting with having crypto is the beauty behind this situation is if you're living in Ukraine and someone needed to send you money and the banks are closed and they're limiting the amount of money you can take out, which they've done.
[00:07:04]  You could have somebody from anywhere in the world send you Bitcoin and you could potentially use that Bitcoin to get out of the country because crypto is fast, because there's no bank involved.
[00:07:17]  It has all these elements that people love and it's decentralized.
[00:07:21]  So I think having crypto in the mix right now, I mean, we're seeing upwards of $20 million in donations to Ukraine in different cryptocurrencies.
[00:07:31]  They wouldn't have been able to do that before because the banks weren't able to transact that way.
[00:07:36]  So it's giving another avenue for people to donate and to send money to friends or potentially to a government that was never around before that.
[00:07:45]  Yeah.
[00:07:46]  I mean, and you could send it instantaneously.
[00:07:47]  It's also very democratized where anyone can have a point of entry to it.
[00:07:51]  Correct.
[00:07:52]  So, you know, it seems like there is this deliberate campaign to destroy currencies as we know it.
[00:07:58]  The rupee is like basically destroyed.
[00:08:00]  They might have to reset their entire currency with this.
[00:08:03]  The dollar is becoming, it's a little bit stronger because it's happening in Russia, but it's still weakening dramatically.
[00:08:10]  When currencies collapse, basically you have to have something tangible.
[00:08:16]  Correct.
[00:08:16]  Yeah.
[00:08:16]  There's only two currencies, fiat money, left over the last 200 years, the dollar and the pound.
[00:08:21]  Everything else has been wiped away if you go back that far in history.
[00:08:25]  So yeah, you basically have to have some sort of standard.
[00:08:28]  And that's why they've been talking a lot about, you know, the world's been talking a lot about potentially going back to having some gold backing our currency, which would make a lot of sense.
[00:08:38]  And there's been people in governments.
[00:08:40]  There's Representative Mooney who's been pushing legislation to try to go back to at least a partial gold-backed system.
[00:08:46]  Because at the end of the day, people that save money, people that typically 20, 30 years ago would put money in an account, a bank account, they can't do that anymore.
[00:08:55]  It's not feasible.
[00:08:56]  It's a war on saving.
[00:08:57]  It's a war on, yeah.
[00:08:58]  I mean, a quarter of a percent in a savings account and the government's reporting 7% inflation.
[00:09:03]  You're losing 7%.
[00:09:05]  Every year.
[00:09:05]  Every year.
[00:09:06]  I mean, so you can't, it's not a feasible way to save money.
[00:09:09]  So now you have to be risky, right?
[00:09:11]  It forces people to be risky.

=== Why You Must Be Risky (08:38) ===

[00:09:13]  So I think that's why, you know, right now precious metals have done so well is because I think people realize the downside risk is sort of low.
[00:09:20]  The upside potential is pretty high.
[00:09:22]  And so that's why they've sort of been shifting gears.
[00:09:25]  And we're even seeing banks, like banks like Bank of America and Goldman Sachs, which really don't have any interest in the gold business.
[00:09:32]  They've even predicting, you know, gold at 21.50.
[00:09:36]  Bank of America a year and a half ago said it's going to hit 3,000.
[00:09:38]  So places that you wouldn't typically see predicting high prices for gold, they're saying gold's going to really hit through the roof.
[00:09:45]  Yeah.
[00:09:45]  And so the reason why gold is attractive is there's only so much of it.
[00:09:48]  Correct.
[00:09:49]  Yeah.
[00:09:49]  All the gold in the world would fit in two and a half size Olympic size swimming pools.
[00:09:54]  That's all the gold in the world.
[00:09:56]  In the whole world.
[00:09:57]  Yeah.
[00:09:57]  It's a very finite amount.
[00:09:59]  And with all the mining in the world, it can only grow by 1% a year.
[00:10:03]  So it's truly the best currency of the world.
[00:10:07]  And that's why it's been around 5,000 years because there is a limited supply.
[00:10:11]  And now gold's not just jewelry.
[00:10:14]  It's not just sitting in central banks.
[00:10:16]  It's being used in medical devices.
[00:10:18]  You know, they're using it a lot of cancer research.
[00:10:20]  So it has, you know, always been the argument against gold is it doesn't pay a dividend or it's, it doesn't have much utility.
[00:10:26]  But I think those things are sort of going away.
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[00:11:27]  I want to play some sound here about just kind of inflation and what's going on there.
[00:11:33]  Let's play CUT 47.
[00:11:35]  The president will absolutely use the word inflation tomorrow, and he will talk about inflation in his speech.
[00:11:40]  Of course, that is a huge issue on the minds of Americans.
[00:11:43]  Now, one thing to note is one of the best, most important steps that the Senate could take is to confirm his slate of eminently qualified nominees to fill out the Federal Reserve Board, given they have a very important role as it relates to inflation.
[00:11:59]  Right.
[00:11:59]  So the way to lower inflation is we need more people in the Fed.
[00:12:03]  I didn't see how that connected.
[00:12:05]  In order to curb inflation, we need to give the Federal Reserve more power.
[00:12:09]  Put the people on the board that I want that will help inflation, even though inflation's never been this high before.
[00:12:15]  It hasn't been this high since.
[00:12:17]  Well, I think they're lying to us, too.
[00:12:18]  I mean, I've said that inflation is really 10 to 12% for years.
[00:12:21]  I think it's really 25%.
[00:12:23]  But people think I'm in the woods when I say that.
[00:12:25]  It's somewhere in between there.
[00:12:26]  But I mean, at the end of the day, I mean, if you look at your energy costs, you look at, I mean, obviously oil, housing prices.
[00:12:34]  Yeah, real estate's are up 40% in Phoenix.
[00:12:36]  Yeah.
[00:12:36]  I mean, housing prices.
[00:12:37]  And average rent is up 26%.
[00:12:39]  So I don't know what they're looking at.
[00:12:40]  Yeah.
[00:12:41]  7% for what?
[00:12:42]  Like Netflix?
[00:12:43]  Yeah, exactly.
[00:12:43]  Well, and it's like, you know, everybody wants the American dream is to own a home.
[00:12:47]  And if it goes up 40%, isn't that?
[00:12:49]  That's right.
[00:12:50]  Isn't that inflation?
[00:12:50]  But then also grocery stores up 8%.
[00:12:52]  I mean, you have to average your stuff together.
[00:12:53]  Yeah.
[00:12:54]  Yeah.
[00:12:54]  Typical food costs, fuel costs.
[00:12:56]  Yes.
[00:12:57]  Yeah.
[00:12:57]  And it'll be interesting to see because, you know, the Expedia CEO is saying that this summer is going to be the best travel summer that we've had in a long time.
[00:13:04]  Best.
[00:13:05]  Okay.
[00:13:06]  Busiest.
[00:13:06]  Best or busiest.
[00:13:08]  But it'll be interesting to see if that plays out.
[00:13:11]  I mean, if oil prices continue to go up, are people going to be wanting to take those trips?
[00:13:15]  It could really hamper travel this year.
[00:13:19]  Obviously, it could affect prices for traveling airlines.
[00:13:22]  I mean, there's a ripple effect to this.
[00:13:24]  And if these skirmishes continue, are people going to feel comfortable traveling?
[00:13:29]  So a lot is happening right now that it could affect our economy and could put us in a worse financial situation because a lot of industries, our hospitality, we need to have a big summer.
[00:13:41]  We've had a few years where nothing much is really happening.
[00:13:43]  So we need travel to come back.
[00:13:46]  So we'll see what happens with gasoline prices.
[00:13:48]  But yeah, it's astronaut.
[00:13:50]  I know here it's $4.
[00:13:52]  In California, we're well above $5.
[00:13:55]  So that makes you second guess, taking that trip at $5, $6.
[00:14:01]  And really, there's no end in sight.
[00:14:02]  I've seen reports that they think oil prices are going to go to $125, $130.
[00:14:08]  So that's going to have a pretty significant effect on the day-to-day American.
[00:14:13]  Yeah.
[00:14:13]  Inflation is a strategy.
[00:14:14]  It's a tax on the working people.
[00:14:16]  And it's also a way to try and bail out really bad decisions by our government.
[00:14:20]  Let's play CUT 48.
[00:14:21]  Inflation is near a 40-year high.
[00:14:25]  This is the fastest consumer inflation, the fastest rate of price increases we've seen for just about everything since February 1982.
[00:14:33]  Anybody who's gone shopping for a car in the grocery store, whatever the case may be, knows that everything is more expensive right now.
[00:14:41]  Yeah, prices are going up because it's really, you don't have to overcomplicate this.
[00:14:47]  When you increase the amount of dollar bills in circulation and you don't have a correlated amount of growth or new value being created, then you're going to have dollars chasing value.
[00:14:55]  Yeah.
[00:14:56]  And also, I think, yes, 100%.
[00:14:58]  And also we're, you know, we're shifting to a lot of renewables.
[00:15:01]  We're moving that direction.
[00:15:02]  I think people now are really realizing like, hey, you know, maybe getting that energy efficient vehicle, maybe it makes sense.
[00:15:08]  You know, I know people are driving less day to day, but obviously if gas goes to $6, $7, it's going to make a big difference in everyone's bottom line.
[00:15:16]  So silver is a big component of that.
[00:15:19]  Silver is going to play a big part in a lot of these new energy efficient vehicles.
[00:15:23]  So I've been saying it for a long time.
[00:15:25]  I don't understand why silver is sitting where it's at.
[00:15:28]  You know, all-time high of silver is almost 50.
[00:15:30]  You know, we're sitting in the $24 range.
[00:15:32]  Obviously, had a big move today, almost 4% up.
[00:15:36]  But I love where silver is sitting right now.
[00:15:39]  You know, the only thing I always say, you know, my wife and I always talk about silver, the downside is like, where do you keep it all?
[00:15:44]  You know, a lot of silver is it's bulky.
[00:15:46]  But you guys have storage options, though.
[00:15:48]  We do.
[00:15:48]  Yeah, we can store silver for you.
[00:15:50]  We also ship directly to your home.
[00:15:51]  A lot of people want to have it in their hands, and I respect that.
[00:15:54]  But if people travel a lot or they don't feel comfortable, we can store the silver and gold for them safely in a segregated way.
[00:16:00]  And it's a good way.
[00:16:01]  It's a good option for people.
[00:16:02]  So it's noblegoldinvestments.com.
[00:16:04]  I think that I have a promo code somewhere for me, but whatever.
[00:16:07]  I think you just, I think if they call and they say it's Charlie Kirk, I think they will know.
[00:16:12]  You guys can open an account 877-646-5347.
[00:16:15]  There's a lot of weird people in the gold business.
[00:16:17]  Everybody, if you have any desire to go into gold, go with Noble Gold Investments.
[00:16:21]  They're phenomenal.
[00:16:22]  And because there's a lot of just kind of transit, like just weird people.
[00:16:25]  This is a legit business.
[00:16:26]  Great people, ethical.
[00:16:30]  Look, inflation is out of control.
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[00:17:43]  Stock market is down 650 points, 675 points now.
[00:17:48]  Stock market's not the investment it used to be.

=== Diversifying Against Volatility (11:46) ===

[00:17:52]  This is a very volatile year.
[00:17:53]  We're having a lot of those corrections right now.
[00:17:57]  And, you know, obviously, nobody knows when this bull run's going to end.
[00:18:01]  It's been going on for a long time.
[00:18:03]  But I do think diversifying is going to be pretty important.
[00:18:08]  You should have some inflation-proof assets.
[00:18:11]  I think so.
[00:18:11]  The VIX is up today, big time.
[00:18:13]  So that's the volatility index.
[00:18:14]  Yeah.
[00:18:15]  Thankfully, I own a fair amount of that.
[00:18:17]  Okay, so let's go into another cut here.
[00:18:19]  Let's go to cut 49.
[00:18:22]  Let's play it right now.
[00:18:23]  Another pricey day at the pump.
[00:18:26]  I got to put 20 and then today, next day, another 20 and then another 20.
[00:18:31]  And Fontana resident Jose Molina says he is now paying double every week just to get around.
[00:18:37]  It's frustrating to say the least.
[00:18:39]  When the gas is going up, food is going up.
[00:18:43]  Everything else is going up.
[00:18:45]  But the salary is not going up.
[00:18:47]  It's still the same.
[00:18:49]  Salary's not going up.
[00:18:51]  Well, that's not 100% true.
[00:18:53]  I mean, salaries have gone up pretty dramatically.
[00:18:55]  It's not correlating with the not going up enough.
[00:18:58]  I think that's probably a pretty strong argument.
[00:19:00]  But I mean, salaries have gone up.
[00:19:02]  Minimum wages have gone up in a lot of states.
[00:19:05]  So it has gone up, but probably not enough.
[00:19:08]  And, you know, unfortunately, when you're in a situation when inflation is moving that fast, you know, for this gentleman, you know, every week that $20 is getting less and less gas.
[00:19:19]  And that's highly unusual.
[00:19:22]  And a lot of it is, you know, currencies like the dollar, they're made to sort of hold value.
[00:19:28]  And we've lost that.
[00:19:30]  And we lost that.
[00:19:31]  It basically started after 9-11.
[00:19:33]  Once we realized that we're going to keep interest rates relatively low forever.
[00:19:38]  And once the banks realize that they don't have to pay any money on saving, once they got away with that, I mean, we even had, you know, in Switzerland, they had negative bank accounts where they were paying you like 10% below.
[00:19:50]  So you were losing money there.
[00:19:51]  So once they realize that that is feasible, that you can actually attain that, that's when that dynamic shifted.
[00:19:59]  And now we're in this never-ending cycle of low interest rates.
[00:20:04]  And we're in stagflation right now.
[00:20:06]  I know they say like we're getting close to stagflation.
[00:20:09]  We are in stagflation.
[00:20:10]  It's happening.
[00:20:11]  We have low growth.
[00:20:12]  We have high inflation.
[00:20:13]  I mean, I don't know how far the numbers need to be off, but I mean, growth, you know, one and a half, 2%.
[00:20:19]  You got inflation at 7%.
[00:20:20]  That's enough for me to say we're in a stagflation type period.
[00:20:24]  The Big Mac price is up 40%.
[00:20:26]  Yeah.
[00:20:26]  That's the Big Mac index.
[00:20:28]  Yeah.
[00:20:28]  The Big Mac is.
[00:20:29]  And the dollar store is no longer the dollar store.
[00:20:31]  Yeah.
[00:20:31]  The Big Mac's eating in your pocket pretty substantially.
[00:20:35]  And I think that, you know, obviously people are changing, having to change their habits.
[00:20:40]  You know, they're changing the way that they look at money and they need to.
[00:20:44]  And that's really important right now.
[00:20:46]  Talk a little about that.
[00:20:47]  Well, and I think like overall, like more people working from home, more people are going to just settle into their house and they need to.
[00:20:55]  You know, the one thing about during the pandemic that I was the best statistic was that credit card debt dropped by like 60%.
[00:21:02]  People actually were, ironically, even though a lot of people were either out of work or making a lot less or just working, they were saving money.
[00:21:10]  They were paying down their debt.
[00:21:12]  Soon as things started to fly back open, credit card debt sort of flied through the roof again, unfortunately.
[00:21:16]  So living within your means, having some sound money principles is really what we need to get back to.
[00:21:23]  And you and I were sort of joking about the federal government hopefully having some similar values.
[00:21:29]  Yes.
[00:21:29]  Right.
[00:21:30]  If they got on blockchain, sure.
[00:21:32]  If they got on blockchain.
[00:21:33]  Yeah.
[00:21:33]  I mean, that would be the way that we could curtail a lot of the spending.
[00:21:37]  If every government contract, you were able to see where all that money was going for on the blockchain, people would be held more accountable.
[00:21:47]  Right now, they're not.
[00:21:48]  No one knows where this money goes.
[00:21:49]  No one knows how much over budget they're going.
[00:21:51]  There's no way to track those things.
[00:21:53]  Blockchain could easily fix those problems, but obviously that would be, they'd have to be held accountable.
[00:22:01]  Right.
[00:22:02]  And I don't think they don't want to be held accountable.
[00:22:04]  They certainly don't want the transparency that comes along with that.
[00:22:07]  Absolutely.
[00:22:08]  Not at all.
[00:22:08]  So money is supposed to be a representation of value.
[00:22:11]  Correct.
[00:22:11]  It's supposed to hold value.
[00:22:12]  Correct.
[00:22:13]  You know, money is a replacement for the barter system so that you're not trading chickens for cows.
[00:22:18]  And money is able to also stretch out the needs and wants problem.
[00:22:24]  So for example, you might be selling chickens, but I don't want chickens.
[00:22:28]  Right.
[00:22:28]  Right.
[00:22:28]  But we would be able to do trade together because there's a replacement for that.
[00:22:32]  It's like, oh, well, you don't have chickens, but you have dollar bills instead of chickens and I could use the dollar bills to go buy fuel instead of the chicken.
[00:22:38]  Sure.
[00:22:38]  So by definition, it makes the economy more efficient.
[00:22:42]  Are you starting to see a reintroduction of the barter system?
[00:22:46]  Yeah.
[00:22:46]  Well, I mean, there's a lot of states that have allowed people to pay tax in gold and silver.
[00:22:54]  Utah is the one, but there's other states that come to mind.
[00:22:58]  There's also states that are allowing people to pay in crypto too.
[00:23:02]  So they're changing how states are able to receive funds.
[00:23:08]  I have clients that pay for some of their goods in silver.
[00:23:12]  I have one of my oldest clients, he pays his mechanic in silver.
[00:23:15]  He's been paying his mechanic in silver for a long time.
[00:23:18]  It's been easy to sort of barter with that.
[00:23:21]  So yeah, to your chicken analogy, the other flip side of that too is when someone's bartering with cows or chickens, and then when the transaction ends up happening, a few chickens get sick, it's not an equal trade.
[00:23:36]  And money's supposed to replace the perishable component of goods, right?
[00:23:40]  Especially in those things that have short spans, right?
[00:23:43]  Exactly.
[00:23:44]  Entertainment or food, fuel, things like that.
[00:23:46]  Yeah.
[00:23:46]  And think about these states, these really smart states that have been collecting gold and silver for taxes.
[00:23:53]  I mean, think of what a win-win that is for the people in that state.
[00:23:57]  Instead of them taking dollars, which has been dropping 7%, as we've discussed, now they're taking gold and silver in their costs.
[00:24:04]  More valuable just this year.
[00:24:06]  I mean, the dollar's down 7%, gold's up 7%.
[00:24:09]  Yeah, exactly.
[00:24:09]  So that's why a lot of times when people are buying, you know, gold from us and it's, you know, it's just, it's a part of the pie.
[00:24:15]  It's not everything.
[00:24:16]  I know, you know, you're interested in gold, you buy gold.
[00:24:18]  I have gold.
[00:24:19]  It's not everything.
[00:24:20]  I have gold.
[00:24:20]  It's a piece.
[00:24:20]  Yeah.
[00:24:21]  It's a portfolio.
[00:24:22]  Yeah.
[00:24:22]  You hedge your bet.
[00:24:23]  But the beauty is, is when we retire, wherever the markets, let's say the market's down and let's say it goes down for a few months in the stock market.
[00:24:31]  If gold's up, then if you need money to live, you liquidate some of that gold.
[00:24:36]  It gives you that flexibility.
[00:24:37]  That's the problem with people is that they dive into everything.
[00:24:40]  Yeah, and look, I mean, we have, you know, we talk a lot about gold is also really good if things really fall apart.
[00:24:46]  And that's the other thing is that if there's a collapse, like a legitimate economic collapse or something that we wouldn't expect like COVID, you know, that goes even further, sure.
[00:24:56]  Then all of a sudden having hard metallic assets to be able to trade or to be able to, you know, barter on are really important.
[00:25:02]  Let's play Janet Yellen, cut 50.
[00:25:04]  I don't anticipate that inflation is going to be a problem.
[00:25:08]  And it will be transitory.
[00:25:11]  Now they say.
[00:25:12]  I'm ready to retire the word transitory.
[00:25:16]  So what went wrong?
[00:25:17]  Some politicians blame greedy corporations.
[00:25:21]  This is about price gouging, corporate greed.
[00:25:24]  Corporate greed.
[00:25:25]  Greed is constant.
[00:25:27]  Economist David Henderson studies inflation.
[00:25:30]  If it's greed, how do we explain when prices fall?
[00:25:34]  So great point.
[00:25:35]  Yeah.
[00:25:36]  And so any thoughts on that?
[00:25:37]  Well, I just think that's, we have to raise prices.
[00:25:41]  You know, companies in corporate, if, if wages are going up, the cost of goods are going up, oil is going up.
[00:25:47]  I mean, we have to.
[00:25:48]  I mean, you remember during Christmas time, you know, goods that were coming over from China, you know, those crates to get those crates, you know, out to be shipped, they went from a few thousand dollars to 20 or 30 or 40,000.
[00:26:00]  Well, how does a company recoup that cost?
[00:26:03]  They have to increase the cost of those items.
[00:26:06]  So, you know, across the board, this is happening.
[00:26:09]  You know, every all the oil prices, obviously we're, we're moving to get off oil to be, you know, so dependent on oil.
[00:26:16]  And we're moving in that direction, but it's going to be 10, 15, 20 years before we can do that.
[00:26:21]  So, you know, energy costs, I don't know how anyone can say that could be greedy corporations.
[00:26:25]  I mean, these are things that are happening.
[00:26:27]  You have to adjust your prices.
[00:26:28]  You have to adjust your prices, of course.
[00:26:30]  I mean, that's what happens every day.
[00:26:32]  Everybody's going to go ahead and charge, you know, like you said, the dollar store is gone.
[00:26:35]  I mean, these companies can't survive at these prices anymore.
[00:26:38]  So it's just what's happening.
[00:26:40]  And either you jump on the bandwagon and realize this is where things are going, or you put your head in the sand.
[00:26:45]  And unfortunately, you're going to be caught, you know, in a pretty bad financial situation.
[00:26:48]  So we've seen $6 trillion new dollars in spending over the last year and a half, which just dramatically increased the money supply.
[00:26:55]  You probably saw it.
[00:26:55]  70 to 80% of all dollar bills ever created were created in the last two years.
[00:26:59]  Yeah, it's unbelievable.
[00:27:00]  Yeah.
[00:27:00]  And people that don't realize that are not watching that and feel like they can do things the same, you know, unfortunately are going to be in a bad position.
[00:27:09]  And that's why this gig economy has blown up.
[00:27:13]  I mean, people since COVID have like realized, like, I got to, I got, maybe I have this job for whatever reason, but I got to do things on the side of bringing in more income.
[00:27:21]  So it's created this firestorm of all these entrepreneurs.
[00:27:25]  And that's what we want.
[00:27:26]  And we want to encourage that.
[00:27:28]  And we need to encourage that.
[00:27:29]  We need that more than ever.
[00:27:31]  They're saying that 50% of people in the U.S. will be self-employed in the next 10 to 12 years.
[00:27:36]  That's where the U.S., that's how we come out of this.
[00:27:40]  But we also have to make sure we give them the tools.
[00:27:42]  We don't tax them too heavily.
[00:27:44]  And we make sure that they have the opportunity to survive, especially in the first few years, starting a business, as you know, first few years.
[00:27:50]  It's awful.
[00:27:51]  It's awful.
[00:27:52]  It's tough.
[00:27:52]  I mean, I was there.
[00:27:53]  I remember we were talking about it.
[00:27:55]  You really fall on your face a lot.
[00:27:58]  You learn a lot.
[00:27:58]  You learn a lot.
[00:27:59]  And hopefully you can get out of it.
[00:28:01]  But the important thing is that we need to give entrepreneurs the runway right now.
[00:28:06]  The infrastructure bill should be the entrepreneur bill.
[00:28:09]  That's what we should be focused on.
[00:28:11]  Yeah.
[00:28:11]  And inflation makes entrepreneurship more difficult because if prices are just rising 10% a month, it's really hard to start a business.
[00:28:18]  Absolutely.
[00:28:19]  How do you price your goods?
[00:28:21]  How do you price your employees?
[00:28:22]  I mean, and you're already trying to figure out enough stuff.
[00:28:24]  You're trying that.
[00:28:24]  Exactly.
[00:28:25]  You're trying to figure out.
[00:28:26]  And you figure it's not just the goods that you're buying.
[00:28:28]  It's insurance.
[00:28:29]  I mean, everything is going.
[00:28:30]  I mean, if you're delivering items, say you have a product that you're delivering, let's say, you know, you got something you're delivering day to day.
[00:28:38]  I mean, your cost has gone up, what, 20, 25% over the last six months?
[00:28:42]  I mean, you can't eat that cost.
[00:28:44]  So we got to get inflation under control and we got to create a way where people can really kind of take the power back and really focus on creating opportunities for their families and not be so beholden on working for certain corporations.
[00:29:00]  That's well said.
[00:29:01]  We're seeing a lot of different kind of forces happening right now.
[00:29:05]  Talk a little bit about, I want to talk more about the crypto side of it.
[00:29:08]  I think it's really interesting.
[00:29:09]  I was like, it's unique that as a gold company, you guys are getting into that.
[00:29:12]  Well, we found when we started getting into crypto that the cryptocurrency, the person that believes in anti-government, the person that wants to take the gold and silver for themselves and control their destiny is the same mindset typically of a crypto.
[00:29:29]  Someone that buys and loves crypto, they love the decentralized, the peer-to-peer.
[00:29:33]  You and I can, we can send money back and forth, right?
[00:29:36]  We don't have to worry about the banks.

=== Decentralized Value Beyond the Fed (02:13) ===

[00:29:38]  We don't have to worry about anything.
[00:29:40]  And also, the value of what we're sending back and forth is not manipulated by the Fed.
[00:29:45]  Yeah.
[00:29:45]  And we know, especially Bitcoin, on Bitcoin in particular, the code does not allow for inflation.
[00:29:52]  It becomes harder to create a new Bitcoin the more people want it.
[00:29:55]  Yeah, absolutely.
[00:29:59]  Being an entrepreneur and running a business are not for the faint of heart.
[00:30:02]  There's a lot of stress when everything is on your shoulders.
[00:30:04]  And if you're not careful, that stress can take the toll on your body, raising your blood pressure, making it hard to sleep, draining you of vital energy and making more irritable.
[00:30:12]  I discovered magnesium and it's amazing.
[00:30:14]  It's a natural supplement.
[00:30:16]  And do you know 75% of people are magnesium deficient?
[00:30:19]  The number might be even higher among business owners and C-level professionals.
[00:30:22]  That's because stress depletes magnesium levels.
[00:30:25]  This can trigger a vicious cycle of rising stress and severe magnesium deficiency.
[00:30:30]  This deficiency can lead to higher levels of anxiety, irritability, trouble sleeping, and low energy.
[00:30:35]  It can even contribute to foot and leg cramps while you sleep.
[00:30:37]  Now, you might be wondering, does magnesium really affect all these things?
[00:30:40]  Well, the answer shortly is yes.
[00:30:42]  In fact, magnesium is involved in more than 300 chemical processes inside your body.
[00:30:46]  So a lot of different things can start to go wrong when you're deficient.
[00:30:49]  The good news is that you can experience a number of positive health benefits from just getting enough magnesium, including better sleep, more energy, healthy blood pressure, less irritability, a calmer mood, stronger bones, reduced muscle cramping, and even fewer migraines.
[00:31:01]  But to experience these health benefits, you have to get the right kinds of magnesium.
[00:31:05]  Truth is, most magnesium supplements you'll find in health stores use only the two cheapest synthetic forms, and they're not full spectrum.
[00:31:11]  And they won't fix your magnesium deficiency or to do much for your health.
[00:31:14]  There are actually seven unique forms of magnesium.
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=== Protecting Crypto Investments (04:30) ===

[00:31:51]  So let's get into the crypto side of it.
[00:31:53]  Yes.
[00:31:53]  So what makes crypto so compelling for a gold guy?
[00:31:57]  Well, I think it's the decentralized aspect of it, you know, that it doesn't have to go through any banks.
[00:32:02]  It's not controlled by the Fed.
[00:32:03]  It's not controlled by it's, it's, it's, the market dictates the price.
[00:32:07]  So, you know, obviously there's wild fluctuations.
[00:32:10]  There's, there's a lot of volatility in crypto, but you know that that volatility is based on supply and demand of what's happening.
[00:32:17]  People are buying and selling out there.
[00:32:18]  So I think that's the first side of it.
[00:32:20]  Second side is just creating a system of utility in the world.
[00:32:24]  A lot of cryptocurrencies, their mission is to make our lives better in so many different ways from healthcare.
[00:32:33]  I mean, the ability to have all of our data, you know, and my father's a veteran.
[00:32:38]  And so when he goes to the VA, they have his data from when he was, you know, he's 76 now.
[00:32:46]  They have his data when he served, when he was 18 years old.
[00:32:49]  And so they can pull all that up, right?
[00:32:51]  Which is so convenient.
[00:32:52]  Most people like us, you go to seven different doctors.
[00:32:55]  Oh, where's your, oh, you broke your leg.
[00:32:57]  How do I get that?
[00:32:57]  How do I get that X-ray?
[00:32:58]  You can't get that data.
[00:33:00]  So the VA has that system.
[00:33:02]  The blockchain is creating that system.
[00:33:04]  So your doctor, whatever doctor you go to, let's say you got some emergency, you're in a car accident, you fly in and they don't know that you're allergic to penicillin and something happens, which happens all the time, right?
[00:33:17]  These, these kind of mistakes.
[00:33:18]  So that data would be at the fingertips because of what they can build on the blockchain.
[00:33:22]  So that utility is something that I don't think anyone can disagree with and also would make our lives better and easier.
[00:33:30]  And we see it now in currency and in assets.
[00:33:33]  The federal government doesn't like it, though.
[00:33:35]  The feds have a new cryptocurrency unit to add to growing U.S. enforcement measures taken to stop crypto crimes.
[00:33:41]  Why is it that the federal government doesn't like crypto?
[00:33:44]  I think obviously number one is a control aspect.
[00:33:47]  They don't control it.
[00:33:49]  This task force, I actually look at it as a positive for crypto because they're actually creating a task force to find people that are stealing crypto.
[00:33:58]  So that's really what the task force is.
[00:34:00]  Now, the double-edged sword of that is they're also trying to find people that aren't paying taxes on crypto.
[00:34:05]  I'm sure that's a big part of the division, but there's been a lot of hacks in crypto.
[00:34:10]  So a lot of people, they've created a vision.
[00:34:12]  They know the values there.
[00:34:14]  They know it's not going to go anywhere anytime soon.
[00:34:16]  So I think it is a sign that they believe crypto will be around.
[00:34:20]  It's here to stay.
[00:34:21]  And they just want to make sure that platforms that are buying it, people that are buying it.
[00:34:27]  That's one of the great things about this country is that if you buy an asset and you buy Bitcoin at 39,000 and it goes to 200,000, you want to reap the benefits of that.
[00:34:36]  You don't want to get stolen by some guy in some country.
[00:34:40]  So I think they're looking for ways to sort of protect the investment for people is the way I look at it.
[00:34:47]  I hope you're right.
[00:34:48]  I don't know if I trust the government in that way.
[00:34:51]  I had another story here.
[00:34:52]  Just talk about Russia, Ukraine, kind of just the general geopolitical tensions you're seeing.
[00:34:56]  Yeah.
[00:34:56]  So I think it's interesting right now is the conversation about, I think an interesting conversation about crypto is good versus evil, right?
[00:35:04]  So the good of crypto right now is that someone in the Ukraine could get, they can't get enough money from the bank.
[00:35:11]  They go and someone sends them crypto.
[00:35:12]  They could buy a car.
[00:35:13]  They flee the country.
[00:35:14]  So that's the positive.
[00:35:15]  The downside is how much crypto does Russia have, right?
[00:35:19]  Are they going to use this?
[00:35:21]  A lot of their traditional ways of getting funding is sort of changing.
[00:35:24]  So there is two sides to the coin, right?
[00:35:28]  So what they're going to be monitoring, this task force is going to be monitoring now, is they're going to be looking for influx of crypto into things that people wouldn't normally see, like NFTs.
[00:35:39]  If there's big purchases of NFTs going back and forth, this wouldn't be a normal place for people to see these transactions.
[00:35:45]  So I think they're going to be monitoring this to see if that's a way that they're sort of funneling money to kind of go around the sanctions that are happening in Russia.
[00:35:54]  Got it.
[00:35:55]  Colin, thank you for joining us, man.
[00:35:56]  This was great.
[00:35:57]  Absolutely pleasure.
[00:35:58]  NobleGoldInvestments.com.
[00:35:59]  Check it out, everybody.
[00:36:00]  It's one of our great partners and they help us out with a lot of different things.
[00:36:02]  And you guys can get rid of those coins.
[00:36:04]  Yeah.
[00:36:04]  And My Digital Money is our crypto platform.
[00:36:06]  Very good.
[00:36:07]  So I appreciate it.
[00:36:10]  Thank you so much for listening, everybody.
[00:36:11]  Email me directly, freedom at charliekirk.com.
[00:36:13]  Thanks so much for listening.
[00:36:14]  God bless.
[00:36:18]  For more on many of these stories and news you can trust, go to CharlieKirk. com.