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March 17, 2023 - The Charlie Kirk Show
35:53
Noble Gold and Ignoble Banks with Collin Plume
Transcriber: nvidia/parakeet-tdt-0.6b-v2, sat-12l-sm, and large-v3-turbo
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Welcome to Noble Gold 00:01:21
Hey, everybody, an amazing hour.
We talk about inflation.
We talk about gold.
We talk about the fiat system.
Colin Plume from the wonderful company Noble Gold.
That is noblegoldinvestments.com.
You guys should check it out.
They treat you the right way.
They're ethical.
They have integrity.
They have honesty.
They're terrific.
It's noblegoldinvestments.com.
Noblegoldinvestments.com.
Check them out.
Full hour with Colin Plume.
You're going to learn a lot about economics, finance, what's happening in the country.
I think you're going to enjoy it.
Get involved with Turning Point USA and buckle up, everybody.
Here, we go.
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I want to thank Charlie.
He's an incredible guy.
His spirit, his love of this country.
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This is a perfectly timed hour.
I was joking around that we had this planned ahead of time.
Yeah, we did.
Turning Point USA Spirit 00:15:23
And but we did not have the bank collapse planned that we did not know about.
And we have an amazing partner from Noble Gold.
And I just can't say enough good stuff about them.
And we got some free products here.
Yeah, which is great.
Remind me of the website, noblegoldinvestments.com.
And yeah, gold and silver.
Obviously, this week it's been a fantastic week to talk about it.
Even the mainstream news is talking about how people are just fleeing the banks.
To actually be able to hold your money.
So Colin Plume from Noble Gold, just tell us about your company, what you're doing.
And I just want to encourage our audience, like I never tell you what to do with your money, but I can tell you what I'm doing with mine.
I'm buying stuff I can touch.
Yeah, well, and especially this week, I think that we've seen, you know, over the years when people would wire us money out of a bank, sometimes the banks would try to discourage them.
They would tell the client as they walked in, they would tell, you know, are you sure?
Yeah.
Do you really want to do this?
But I've had a lot of funny calls from clients where they said this is the first week that they bought gold from us that even the bank that they went to didn't discourage them to sending us money.
And they know who we are.
The banks obviously know who we are.
Of course.
So it's been, we've had a massive influx of people that just want to get out of the banks.
Even people that aren't with, you know, SVB or Stupid Valley Bank or whatever you want to call it, even people that aren't with that bank.
Or Credit Suisse, man.
I'll cover it with Credit Suisse, obviously.
Yeah, that's, I mean, Credit Suisse is, you know, almost two times the size of, or two and a half size the size of Silicon Valley Bank.
Yeah, it's 1.5 trillion in assets.
Yeah.
So that would be a massive collapse.
I mean, that would change things pretty dramatically in the system.
But overall, the banking crisis has been something that I've talked about for a long time.
Yeah, you have.
And, you know, it comes down to banks today.
They obviously need to make a return.
And a lot of the banks today are struggling to find a decent return, especially ones that bought treasuries a year ago.
But this collapse, I think, made no sense in that when they bought those treasuries a year ago, it didn't make any sense that they didn't take the lick back last year, sell some of it.
Why would they sell 60% of what they had today?
It really, it was the perfect storm for that bank.
And there's six or seven other banks that are in a similar position.
And we'll see what happens over the next few weeks.
Yeah.
And this all kind of comes down to some really basic questions that we don't talk enough about, which is what is money?
What does it represent?
And what system do you have to create money?
And is your money actually tied to value?
Right.
And so money going back thousands of years ago was a creation because the barter system really doesn't work very well.
Right.
Right.
Because if you have chickens and you want to have eggs, well, they could perish and they could spoil.
But if I don't want chickens and you don't want eggs, so you need money, right?
Yeah.
Money is important.
Yeah.
But history shows us something almost mystical about gold, almost.
And I'm not just saying this, where it has been an agreed upon holder of value in every civilization, every type of country.
Why is that?
Why is that gold has had this stability regardless of different currency systems?
Well, to go over your first analogy is when you're trading and barter, you want an item that during the transaction is going to hold its value over that transaction.
So gold is the perfect item to hold its value over their transaction because as you can see over there, it's not going anywhere.
It's not perishable.
It's fungible.
And also you can hold a tremendous amount of value in a small.
Yeah.
So that's what would this be right now?
That's like 10 grand in gold right there.
There you go.
So, I mean, so you can hold a lot of it in a small way.
It's liquid.
And so people all over the world have, as you mentioned, been fascinated with gold.
India, I mean, there's all these countries.
The Mesopotamian River civilizations, the Egyptians.
They've all had it and they've all used it.
They independently found gold as a way to store value.
Correct.
Yeah.
And it's a great bartering instrument.
And also, you know, when you look at our fiat system, the way it's set up is it's just, we're always playing a guessing game of when is a bank going to fail?
When is our dollar going to continue?
And, you know, inflation's been 8%, 10%, I've been saying for many years.
Now it's reported at 7% to 9%.
So it's way higher than that.
Absolutely much higher than that.
So I think now people are saying like, I got to have some gold.
I got to have some silver as just a hedge and be diversified because so many people, I mean, we saw these people over 250,000 running to the banks afraid and they just didn't feel comfortable.
And listen, Biden said he, you know, there's nothing to worry about, but, you know, this is one big bank.
If two or three other banks of this size or close to this size go under, do we have enough to cover?
I mean, no.
And I want to focus on the fiat part.
But first, I want to do this throughout the hour.
Website, talk about the company.
Noble Gold Investments.
Yeah.
Noble Gold Investments, we've been in business only for seven years, but I've been in the space for almost 14 years selling precious metals.
And because of partners like you and other partners we've had, we've actually, in the last three years, become the number one gold IRA company in the country.
It's amazing.
And we've sold over $1.3 billion in gold and silver in just the last three years.
Praise God.
Well, I got to tell you, Colin, and the reputation of people in the gold business is bad.
You know that.
You guys are great.
Ethical, honest, thank you.
Transparent.
So I could say that because we've sent a lot of people your way and it's an overwhelming report because a lot of people say, oh, come on, gold guys.
And that is kind of the reputation, right?
There's a lot of shenanigans.
That's not this.
Noblegoldinvestments.com.
And look, I say this, again, I'm not a financial wizard.
The people that are financial wizards are actually idiots like Jim Kramer.
But isn't it rational that when you have more dollar bills than you know what to do with, you kind of go back to the roots of value, which is gold.
You could touch it.
You could store it, transport it.
It's a reasonable hedge.
Yeah.
And we were talking about, you know, you want to buy things that have a limited supply and gold, the amount of gold that's mined, you know, 1%, a little less, a little more.
But that's pretty much it per year.
So it can't expand as much as money and it can't expand as much as other items.
And it's, you know, a metal that everybody wants.
And last year, you talked about this a lot.
Last year was the biggest central bank buying of gold than we've seen in almost 20 years.
They even know that.
They even know to get their money out of the banks.
So I want to explore this idea of the fiat currency system.
And again, if anyone wants to read, there's a fascinating book called The Creature from Jekyll Island, if you really want to get into kind of the, I don't want to say a conspiracy, none dare call it a conspiracy, but it's well written about meetings that happened right near Sea Island, Georgia in a place called Jekyll Island, where basically the Federal Reserve System, as we know it, was created.
It was launched.
And so, but when America was founded, we were on a metallic-based system.
Correct.
And in the 1700s, 1800s, and then something changed.
Yeah.
Right.
Industrial Revolution.
Why did we decide to go away from basing our currency on gold?
We wanted to spend more than we had in reserves.
I mean, it's really just a fundamental it.
And, you know, during the Great Depression, we wanted to expand the money supply.
And so they recalled the gold standard.
And we've been on a runway of hyperinflation ever since.
Yeah, let's talk about that.
FDR confiscated gold to be able to expand M1 at the time.
Yeah.
And it was a bad deal for anybody that turned in their gold because basically he said we're confiscating the gold.
The gold price was in the low 20s.
And then as soon as it was completed, you know, within a year or two after that, the price jumped.
They set the price in the 30s.
So everybody that sold, they sold it early, got like a 30 or 40% clip on what eventually they set the price of gold being, which was in the low 30s and in the early 1930s.
Crooks.
I mean, and a lot of people took a haircut in that way.
And I'll add to that, the kind of regime that we live under, which is living above our means, very generous social welfare programs.
I think reckless foreign wars.
You can't do that if you have a monetary system rooted in reality.
So you have to have a monetary system rooted in fiction.
Correct.
And a fiction can work if everybody believes it.
The problem is what happens when 250,000 people say, I want my money back.
And they're like, well, the money's not there.
And it's an imagination.
Yeah.
And the joke, the joke is, is like, when you talk to people, is they're telling people not to go to the bank.
Well, who wouldn't want to go to the bank if they know that their deposits potentially are in trouble?
I mean, they were lining up when I saw them in front of SVB.
I mean, there was people they said from Australia.
I mean, people were getting on planes to know that they're, to make sure that their money was secure.
And, you know, that also goes to the fact that this $250,000 limit, this FDIC insured limit, it's too small, right?
It's not enough.
I mean, if they really want to protect people's money, it should be much higher than $10 or $15 million or whatever.
It should be a much higher amount than where it is.
Because when you look at these banks, I mean, for them to stay in business, they have to get out there and make a return.
Yes.
They have to.
They don't charge anything on the money.
They don't charge most fees anymore.
So how do they make a return?
They launch it out.
They loan it out.
Exactly.
They loan it out or they put it in the markets.
And obviously.
Well, there's a lot of issues.
You're right.
And when you have more dollar bills than you have good ideas, then you get malinvestment.
And so these banks are like, well, we have, so then they buy treasury bills.
Right.
And that doesn't always end well, especially when rates go upside down.
Yeah.
Noblegoldinvestments.com.
There's a lot of weirdos in the gold business.
I know that.
I get your emails about it.
These are the good guys.
They're ethical.
They're full of integrity.
Call them up.
Tell them Charlie sent you.
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Colin, there's several topics here, but I do want to talk about the Silicon Valley Bank thing because I think it is an example of some of the deeper economic fissures that we're going to experience, living above the means.
But the federal government comes in and they insure deposits up to any amount, basically eradicating the FDIC minimum.
That sets a precedent where basically, again, I'm somewhat conflicted because they almost had to do that.
I'm not to preserve the fractional banking reserve system.
But if there's not going to be a cost for bad decisions or they're not going to follow the $250,000 guideline, then there is no limit.
How much more can we take of the federal government just coming in and pumping in artificial money into the economy?
We're on really fragile footing.
Yeah, yeah.
And they only, before they went and did this, which was unprecedented, there's only $120 or $130 billion set aside for this kind of bailout.
So anything like Credit Suisse or any of these other banks going would well exceed that number.
So I think they did something that's unprecedented.
And then if other banks, even smaller banks go out of business, are they obligated to come in and protect?
That's the question I don't really understand and how they could do this.
And the thing is, yes, I guess you could say they had to do it.
But my argument would be that if this bank was really strong, like everybody said, it was actually a very strong bank.
They just had a few errors.
It should have been cleared up within the next few days.
I think they just basically sent a message.
They didn't want banks all across the country to have these bank runs.
So I guess as an administration, you decide to do that.
But to say that there's no cost is misleading because basically we're using money that we could put into somewhere else to bail out an asset or a bank that is not doing well.
So we're buying assets that are depreciating.
So there is always a cost when you do any of these bailouts.
Any of the bailouts, they always have a cost.
And I think we all pay for it as taxpayers.
Carl Icon, one of the richest men alive, has some pretty sharp words about our economic health, and it's not good.
He's giving a pretty negative prognosis.
Let's play Cut 66, please.
That system is breaking down.
And that we absolutely have a major problem in our economy today.
And I'm not going to bind on whether or not you bail out a bank or something like that.
I do say he's right in the sense that our economy is breaking down.
Colin, we're seeing so many of the things you've been warning about for years, right?
I mean, three years ago was the beginning of the virus and the lockdowns, then creating $6 trillion of additional money.
And you at Noble Gold were like, hey, guys, this is not going to end well.
Inflation and all that.
People were rolling their eyes.
But now we are seeing the legitimate collapse of the entire economic order.
Right.
Yeah.
And we have, you know, you have the Inflation Reduction Act, which did nothing to reduce inflation.
I mean, that's the idea.
It's a spending bill.
It increases tax.
I mean, the main things that it does is it increases taxes.
It spends money on green energy.
It's basically a big loan for green energy.
And then it reports that it's going to bring down the cost of medical in some way, which anyone that owns a business knows that that hasn't happened.
I mean, from the big healthcare bill all the way to today, I can tell you as a business owner, our health insurance has gone up anywhere from 10 to 20% every year as a company.
It's never gone down.
It's never even been single digits.
So you're adding more money into the economy by spending more with this Inflation Reduction Act.
You're trying to thwart inflation.
But the way that you're going to thwart inflation is to enable business owners.
That's how you're able to do it.
That's right.
Business owners, they want to find solutions.
So by pumping money with this Inflation Reduction Act into green energy, like Obama did this too, he did it when he was in office too, by pumping this money into the economy and giving free loans to all these corporations with really no repercussions, it does set a bad precedent.
And it's not a good time, as you mentioned, with war and everything that's going on, it's not a good time to be pumping more money.
And, you know, and the interesting thing of all this is that gold has been relatively stagnant until the last probably 60 days.
It's really started to move up.
And obviously, when you see people, you know, running the banks like this, they're thinking to themselves, where am I going to move this money?
Do I want to move it to another bank?
A lot of the people move money into mutual fund accounts.
A lot of people move money to a bigger bank like Bank of America.
I think they said Bank of America had like $15 billion in deposits.
But a lot of people said, I don't even want to go to another bank.
Gold Value Surge Explained 00:16:08
So what are my options?
So now people are really searching at different options and being diversified.
And I've said for a long time, nobody should have more than $250,000 in any bank because of exactly the situation.
That's right.
If six months ago, if somebody would have went to Noble Gold Investments and put money there, they would have made at least 14 to 15% of their money.
The price of gold is up 14% in six months.
You can't say that about most stocks right now.
Yeah.
And so this is, again, the laws of economics don't go away just because you wish them to go away.
Yeah.
And you begin to pump all this money into the economy, you get real bad stuff.
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A lot of economic insecurity here.
Silicon Valley Bank collapsing.
I'm sure.
So just walk us through what's your last week and a half been.
It's been a very busy week.
We basically went to a seven-day work week at Noble Gold.
We were always on a six-day, but we usually work a half day on Saturday.
But we've been going through seven days a week.
And just because people have been running the banks to send us wires and we just wanted to give them comfort kind of every week that we're around.
We don't want them to think we're running the same thing that's going on at the bank.
So we've been quite busy and the market's seen obviously a pretty big uptick.
And before that, even 30 days before, we were seeing a huge push into platinum.
A lot of people were buying platinum from us because platinum is pretty undervalued.
I know we don't have that much time to get into it, but platinum is a metal that a lot of people have been talking about.
So we've seen this platinum push and then obviously gold and silver over the weekend and this week has just been, there's been a flurry.
In both silver and gold, have you seen it?
Both silver and gold has been, yeah, we've seen a pretty dramatic price has obviously shot up.
But, you know, we've, we're prepared for this in terms of stockpiling.
Even during COVID, we never ran out of silver like many of the other dealers are out there because we went ahead and I actually bought basically every thousand-ounce silver bar in the whole market and uh sort of mortgaged my house.
And then you didn't the hunt thing where you bought every I literally bought every thousand ounce bar that I could get my hands on uh in like two days, like right before the shutdown.
I mean, that must have been millions and millions of dollars.
It was a tremendous, I even had to borrow for some friends because I was so ahead of it.
Um, so we never stopped incredible, Jeremy.
That takes hutzbook.
It was, it was, it was a little scary, actually.
So, so you saw you predicted a silver surge.
You just you saw the silver mines closing.
Um, wow.
And and and then what happened, and I remember when it happened in 2008, when the last uh crisis happened, and and it was sort of happening with COVID, was that that the dollar temporarily got strong.
So, actually, gold and silver prices actually dropped.
So, silver dropped all the way down to about $13.80.
This is an 08, you know, 708.
No, no, this happened in 2020.
Got it.
In 2008, a similar thing happened.
Uh, gold and silver both pulled back for about a month and a half, and then we saw them uh uh go ahead with quantitative easing phase one in 2009, then it inverts and then it inverts.
Um, which I think a lot of people believe this new way that I was going to say, this new way that they've been able to fund the banks is sort of maybe a way that they're doing some new quantitative easing.
I know there's some talk about this creates some liquidity in the markets.
Um, and so, anyway, so then in 2020, I bought all the silver bars that I could, literally anything I'd get my hands on.
And then silver went from $13.90 all the way up to $29 in nine months.
And pretty much, I would say 70% of the people that bought at the beginning sold and made a fortune.
Wow.
And good for them.
And then some people kind of held on and or maybe sold a little bit, but it was a massive run.
So I, you know, I don't think we're seeing that yet in the markets.
If we see one more big bank go down, though, gold and silver will be very difficult to get, I predict.
Yeah.
So, I mean, that's a good reason to go get it.
But it's just you as a business owner that, you know, to go all in and yeah, yeah.
I just, I just saw that because once most of the silver in this country that we use that creates bars and coins, most of it comes out of Mexico.
And they, for almost nine months, they had a very difficult time.
Because of COVID, because of COVID.
Labor and all sorts of things couldn't get people.
Yeah.
So I just knew that everyone was going to have a shortage.
And then obviously, like, people were fearful of what's going on in the economy and sort of things.
But then you were able to tell your customers, like, hey, your clients, you know, we have what you need.
We were able to lock in pricing.
We were the only dealer, one of the only dealers in the country that were able to lock in pricing for the whole time.
We never stopped.
So people were able to buy it early and really capitalize.
And so we'll see what happens now with what's happening.
Yeah, it's interesting.
I remember a good friend of mine telling me decades ago, they said, the gold people will always end up being right.
And I said, what do you mean by that?
They said, it's, you know, look, there's volatility in the market, things go up and speculative.
He said, but if you have something that is useful and limited, it will end up getting more and more valuable.
Yeah.
Right.
Yeah.
Like real estate.
Exactly.
Valuable real estate.
There's only so much of it.
Yes.
And yes, you're going to have fluctuations.
And obviously, we've seen like with states like California that you can create taxes that make it onerous and people will move, even though it's very desirable real estate, right?
But in the long run, if you're in a state that makes sense and there's real estate that people want, it's the same dynamic.
People are going to eventually, it'll eventually go up in value.
So I want to talk about just the general economy.
And we're seeing here, JP Morgan, Jamie Dimon, says the Green Transition Inflation Reduction Act have actually increased inflation.
And the bigger trends are inflationary as the money supply continues to increase.
Our leaders, not to be look, I don't want to be too dystopian or doom and gloom, but our leaders really have only a couple options at their disposal right now, which is you could take the cough syrup and you're going to hate the way it tastes, but you actually might be able to save the American economy, raise rates and cut spending and go through a little tough patch.
They seem totally uninterested in that and said they are only going to continue to try to inflate their way out of an inflation problem.
That's a really bad idea.
Yeah.
And next week will be, I think, the most interesting Fed meeting that we've had.
It's going to be like people are going to have Fed watching parties.
No, I think, I mean, since a year ago, when they decided to really raise rates and they've sort of been consistent, but now I think they know that if they go too aggressive next week, it could spur more banks going out of business.
You mean rates too high?
Too high.
Yeah.
So you think rates might go down next week?
Well, I heard this from other people.
I don't know if they go down, but I don't know if they're going to increase them.
And even if they don't increase, I think it would show some positivity to the market.
Yeah, but it's all, it's bad positive.
It's not good positivity.
I'm a guy that actually wants to see bad ideas be held accountable.
And I actually think a recession is not good for people.
But if you overextend yourself, there's a cost to everything.
Yeah.
Right.
And inflation is high.
And so if they, listen, if they stay to their mandate, they should probably increase rates because inflation is still high, right?
That's what they're supposed to do.
But the question will be, do they, are they having meetings right now?
And are they deciding that if we don't raise rates, if we pivot or if we do something else, will that help keep some of these banks alive?
Because you got to think that SVB is not the only bank that has a lot of these treasuries from last year.
If they keep going higher and you can buy bonds on the market for 5% or 6% or 7%, everyone that bottom at 1% is in trouble.
So that's going to be the question of what's going to happen next week.
So I don't know.
I'm just speculating that maybe they don't increase.
That's what the banks probably, I remember a guy that owns a bank in Texas who I really respect and been a supporter of ours for years.
I asked him, I said, what are you doing with your money?
What are you investing?
He said, I'm sitting on cash and buying gold because gold is going to go up.
And he said, cash, I'm going to lose some of my value.
He said, at least it's liquid.
And it's just not tied up.
And I thought that was such a weird thing for him to say.
It ends up kind of being a little bit clairvoyant.
Yeah.
Well, it's like he's, he's waiting.
Well, he's sitting on a lot of cash because he's waiting for opportunities, right?
I mean, that's, he wants to be able to jump into the market.
And there's a lot of people out there that are so happy with some of these bond rates.
You know, people that now, in a high, you know, if you look at inflation, let's say it's 10% and they're giving you a bond at 5%, it's still not great, right?
It's sort of the same thing because they said inflation was 2% or 3%.
It's a lie.
It's been a lie for a long time.
Yeah, it's the same thing.
But to have liquidity available to take opportunities is, I think that's the thing that people are really looking at.
And, you know, there's different opportunity.
And I talk about this a lot.
I think the gig economy and like what's happening with millennials, you know, everything's gone up.
Delinquencies have gone up.
Auto home loans delinquencies have gone up.
Mortgage delinquency has gone up.
Not a lot, not like 2008, but it's starting to creep up.
So how do people fill this gap to keep them solvent, to cover the increase in everything?
That's a big question.
And it's interesting.
Real estate prices are going down, but it's interesting.
People are going to hold on to that 3% interest rate if they can.
I mean, they're not going to be quick to sell their home, right?
Even though they're overextended.
Sure.
There's a lot of people that say, I'm never going to get, I'm not going to get a rate like that right now.
And so I knew we were in trouble about 18 months ago where I had some of our donors come to me and they said, do you know any ideas of places I can invest things in?
I said, what do you mean?
They said, there's just, I don't know where the value is.
And when you have dollar bills trying to find value, bad things start to happen.
And it turns out that if you actually go to the cornerstone, which is a metallic-based something that could be used, talk about how gold is used in our, I think this is interesting.
Gold is not just a nice shiny thing that you wear as jewelry.
It actually has a utility to it.
Yeah.
So, yeah, for 20 years before, mostly gold was sitting in mostly central banks.
Investors were buying it.
Jewelry obviously has been a big use.
And, you know, India has always been a, has a fascination.
And they have their wedding season coming up in a few months.
So you can.
Does that go up?
Does that increase?
Yeah.
Oh, really?
Because the tremendous amount that they would give as gifts.
I mean, it's part of the industry.
But even on a interesting thing is India, even on a smaller level for families that are poor, they'll pull money together to buy one gram of gold in India, which is basically the size of your fingernail because they revere it so much.
And they know, you know, India has obviously gone through pretty heavy inflation.
They know that gold will be a store of value for them.
And that's really the reason of it.
But today, you know, you have gold and heart monitors.
You have everything going into space.
They're using gold, cell phones, a lot of tech that we're dealing with day to day.
There's all these studies about how much gold is in these iPhones and they're extracting it out.
So yeah, there's a lot of industrial uses.
So that's what makes it so unique is that you have central banks last year buying the most gold that they've ever bought in 20 years.
Then you have this just investment use of retail investors buying it, jewelry, and then you also have this investment use.
So it's quite unique in that way that it has all of these different applications day to day.
Yeah.
And I mean, I don't know too much about the mechanics of the Fed.
They just make, I mean, Jerome Powell just meets with his pals and makes a decision.
I mean, is that really what it kind of comes down to?
The process is so, you know, you know, not clear.
It's unclear.
It's going to be a little bit more.
Yeah, well, their 2% mandate, the 2% inflation mandate.
Mandate from who?
That's what's been created.
They said they have to get their inflation down to 2%.
That's sort of their mandate.
Can we ever, in my opinion, we're never getting back to 2% unless they basically strip CPI down and just put a lot of favorable attributes in there.
So I think what's going to have to happen, and I think it will happen, I think they're going to increase their mandate to probably 4%.
Yeah, and we're going to have to live with 4% to 5%.
But it's really 10% inflation.
Correct.
So the new normal is going to be, guys, sorry, asset prices are going to go up 10% a year for eggs, and you're going to have to get used to it.
Yeah, exactly.
That's what's going to happen.
And then that would be the only thing.
Until the next war happens, then it will be 15% or 20%.
And you're going to get, oh my goodness, the malinvestment you get in that way.
I want to play another piece of tape here about the economy.
Cut 67.
Inflation is the worst thing that can happen to an economy.
Play Cut 67.
We have some major problems in our economy.
Inflation is the worst thing an economy can have.
And I think people underrate that.
If you look in history, every hegemony has been destroyed by inflation or almost everyone.
I was sitting at a lunch in Palm Beach two years ago, and I was with a bunch of Wall Street guys, very smart people, went to good schools.
And this was, let me think about this.
Yeah, it was January of 2021.
And I made a remark.
I remember I took the day off radio.
I said, you know, we're going to experience some hyperinflation.
And they were not just, they thought, they said, we're never going to have inflation in this country.
I look at all the metrics and all that.
How do the smart people get this so wrong?
Well, I think you get used to the norm.
You get used to that, seeing that 2% number.
And I do think the only reason that we were forced to show these higher numbers of inflation is because it was so rampant for everybody.
I mean, every item that people were buying was going up such a dramatic amount.
Obviously, gasoline was a component of that.
You had those prices.
But then you saw silly things like use cars go up, you know, 70%.
And they're telling you you have to pay $40,000 over sticker price to buy a high-end day car or whatever.
So I think it just, it really got put into people's faces in a very quick way.
And so I think it's, you're right.
Everybody's missed the boat on this really common thing.
And, you know, that's what they say about inflation.
It's like it sneaks up on you.
You just sort of forget about it.
And, you know, for so many people that just have a standard retirement or they're just, they have Social Security and they think all their metrics are off.
You know, that 3% rule, that 3% pullout rule in retirement, those numbers are going to have to be recalculated based on readjusted.
And so the closer you are to retirement, that's when you really have to be careful.
And I think people got really used to just keeping money in the markets and just thinking it was going to, it would ride itself out over years.
But it looks like this pullback in the stock market could be longer than some of the other ones that we've seen in the past.
Yeah, and they're only prolonging the inevitable, which is that some of these companies have unsustainable business models that are propped up by cheap money.
And you can only pump so much cheap money into the system before you get massive negative ramifications.
And then people start putting money and all sorts of goofy stuff.
Long Term Investment Wisdom 00:03:00
I do like the idea of blockchain and cryptocurrency, but the amount of the inflationary bubble of crypto, I mean, now this is one of the more tragic stories.
It's down 90% basically across the board.
And you're probably looking around being like, well, you should have just bought the thing you could touch.
Well, yeah, because everybody's always, they always say Bitcoin and gold are kind of similar.
And because Bitcoin has a limited supply, they sort of attach those two things together.
But fundamentally, Bitcoin still has a problem.
Not that I don't own Bitcoin, and I do.
I still think it has the fundamental issue of proving that it has utility.
And that's the biggest issue with most of these.
Whereas gold has proven that it has utility.
And even silver, we didn't get to talk about this too much, but it's a beautiful silver coin here.
Yeah, Five Ounce America, the beautiful coin, which is one of our most popular coins.
But last year was the first year that the Indian market was actually able to buy silver and mass.
And so I do think you have the Indian market, which has been infatuated with gold.
Now they have a bunch of ETFs in India that they didn't have access to because your regular investor, they're not going to store silver there.
It's just too big, too bulky.
So now they have an ETF market in India that was never there before.
So that's growing the demand.
And then if you talk to miners about silver, where it's priced today in the, you know, in the low 20s, they talk about all the industrial uses and how hard it is to mine.
The price is just, we're still dealing with a lot of pushback from the markets.
And we still haven't seen a lot of, we haven't seen it really start to take off.
I mean, silver was at $50 an ounce in 2011.
It was at $50 an ounce in 1983.
And we're well below that price.
It's extraordinary.
Yeah, it is.
It really is.
Yeah, at some point, the dollar bills are going to come home to the place of actual value.
Noblegoldinvestments.com.
They can go and they can call, right?
Absolutely.
We're an accountant.
We're a U.S. base.
So the thing that has, I think, separated us and propelled us to a lot of this growth was that we're one of the few companies that you can actually call and talk to a live person.
And everyone there has been associated.
I've either trained or been around.
And we have a Florida, you mentioned it.
We have a group that loves gold and silver.
But even some people say like they have to almost push the sale on a salesperson because we want people to feel comfortable about the purchase.
We want them to know this is a long-term thing.
They're going to be, if they do a gold IRA, the gold in there could be for 10 or 15 or 20 years.
So we want them to feel as though they made the decision.
And so we really take our time with that.
And they treat people really well.
It's noblegoldinvestments.com.
I'm sure many of you guys have investments in different places, but own something you can touch.
I tell you guys that when we talk about Noble Gold, they do a great job.
Colin, thank you so much.
It was a great hour.
Thanks, Charlie.
Appreciate it.
NobleGoldInvestments.com.
Thanks so much for listening, everybody.
Email us your thoughts as always: freedom at charliekirk.com.
Thanks so much for listening, and God bless.
For more on many of these stories and news you can trust, go to CharlieKirk.com.
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