April 12, 2024 - The Truth Central - Dr. Jerome Corsi
46:37
Why Gold is On the Rise in 2024 with Dean Heskin, CEO of Swiss America
Even casual observers see and feel the spiraling U.S. #economy as high #inflation, excessive #debt, devaluing of the #dollar, the highest interest rates in decades and unduly inflated market numbers. While experts predict a coming market crash, #gold prices have been going up in 2024. While business moguls like Warren Buffet and Jeff Bezos had recently sold off enormous amounts of stock, Central Banks have been scooping up gold and the BRICS nations are working on a gold-backed currency. #dedollarizationDr. Jerome Corsi and Swiss America Trading CEO Dean Heskin discuss the relationship between market conditions and gold prices historically as well as today and gold's potential amid a potential market crash.Get Dr. Corsi's new book, The Assassination of President John F. Kennedy: The Final Analysis: Forensic Analysis of the JFK Autopsy X-Rays Proves Two Headshots from the Right Front and One from the Rear, here: https://www.amazon.com/Assassination-President-John-Kennedy-Headshots/dp/B0CXLN1PX1/ref=sr_1_1?crid=20W8UDU55IGJJ&dib=eyJ2IjoiMSJ9.ymVX8y9V--_ztRoswluApKEN-WlqxoqrowcQP34CE3HdXRudvQJnTLmYKMMfv0gMYwaTTk_Ne3ssid8YroEAFg.e8i1TLonh9QRzDTIJSmDqJHrmMTVKBhCL7iTARroSzQ&dib_tag=se&keywords=jerome+r.+corsi+%2B+jfk&qid=1710126183&sprefix=%2Caps%2C275&sr=8-1Join Dr. Jerome Corsi on Substack: https://jeromecorsiphd.substack.com/Visit The Truth Central website: https://www.thetruthcentral.comGet your FREE copy of Dr. Corsi's new book with Swiss America CEO Dean Heskin, How the Coming Global Crash Will Create a Historic Gold Rush by calling: 800-519-6268Follow Dr. Jerome Corsi on X: @corsijerome1Our link to where to get the Marco Polo 650-Page Book on the Hunter Biden laptop & Biden family crimes free online:https://www.thetruthcentral.com/marco-polo-publishes-650-page-book-on-hunter-biden-laptop-biden-family-crimes-available-free-online/If you like what we are doing, please support our Sponsors:MyVitalC https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: https://www.thetruthcentral.com/the-macmillanBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
This is Dr. Jerome Corsi and thank you for joining us here at BeFoodCentral.com.
Today, it's Friday, it's April 12th, 2024.
You can find us on X at CorsiJerome1, and at Substack it's JeromeCorsiPhD.substack.com.
We've got a very special guest with us today.
I'm really honored and pleased to have Dean Heskin with us.
Dean, how are you?
Doing very well, Jerry.
Thank you very much.
How are you?
Well, I'm good.
I'm good.
Prospering and Trying to get through all the politics and economics we've got to deal with, which are pretty insane these days.
But Dean is the CEO and the head of Swiss America.
Swiss America is a precious metals company.
I've been working with Swiss America for really 20 years now.
First with Craig Smith, who founded the company, and now with Dean, who is the CEO.
And it's been a great relationship.
I've only had success always with Swiss America, consultative selling, real honest caring of customers.
And I think we're going to reflect that in this conversation today.
So Dean, let's start off.
You just did a newsletter, your newsletter.
And by the way, how can people get on your newsletter?
I'm going to ask that a couple of times.
If they visit our website at www.swissamerica.com, which I encourage everyone to do anyway, they'll see an area there where they can sign up to receive.
We have a daily electronic newsletter that we send out and then a weekly electronic newsletter that goes out.
But in addition to that, if they contact our office, they'll see a variety of different reports that we offer.
Probably are the one that we just flashed on the screen.
The secret war on cash has been one of the hands down in the 40 plus years that we've been in business.
The most sought after and requested report that we've ever produced.
So there's a new version of that, which I know you're aware because you helped us put together that will be coming out as well.
So if they visit our site, it is a wealth of various resources that they can tap into there.
I mean, and it's also on our site in the truthcentral.com.
You're going to see a lot of information on Swiss America.
And please take advantage of the walking liberty half dollar initial introductory offer, which is a great offer.
You can get 250 of these coins up to really for their value in silver.
They're over 99% silver.
They're beautiful coins.
They're circulated, but the silver, you can't beat the silver content.
Jerry, not to interrupt you, but I'm glad you flashed that on there.
We talked a little bit before going live here about what's been happening with gold, but I do want to mention, since you brought up silver, there is a commentary that came out just yesterday by a very well-known market forecaster who talks about all the attention has, by and large, been going to what gold's going to do this year.
They're looking to see gold prices, which are currently right at around $28 an ounce, by year's end to be at an all-time high of $50 an ounce.
You mean silver?
Silver, excuse me, $50 an ounce.
And the reason being, they do tend to be sympathetic metals where they move kind of in tandem with one another, not step for step, but they tend to trend the same direction.
And, you know, it's getting to a point from industrial purposes, but as well as investment purposes, that the supplies out there have been completely depleted.
And thus, that's where they're looking to see some very, very good moves.
So to this offer that you have on the screen, which is, we put that together as a nice introductory offer.
You can't be beat in terms of the pricing and the value of purchasing or acquiring those coins.
And we did it so that people who are brand new to this marketplace, it's an easy way to kind of stick their toe in the water and get involved in the metals market for the first time.
It's also, with the value difference between gold and silver, silver at the lower dollar amount has a chance to double faster.
I mean, it has another appreciation factor in just how it's priced.
And I do expect that gold and silver will continue in tandem, because that's been the historical trend, and I think it will continue.
Now, Dean, so you have a newsletter today and we're seeing increasing reports of gold just continuing to soar.
So why don't we start with what your newsletter was reporting today?
Well, you know, today, the e-newsletter that we put out was highlighting Bank of America just came out and is now making a forecast for the price of gold to reach $3,000 an ounce.
And this has been actually we in our podcast that we put together in the fourth quarter of last year, there were several articles and several forecasters that were coming out and saying the same thing.
Now, mind you, at Q4, Of 2023, gold prices were resting at roughly the $2,000 mark.
We're just barely into the second quarter of 2024, and as we speak here today, gold prices are over $2,350 an ounce.
We're just barely into the first quarter now, excuse me, now into the second quarter of 2024.
And as we speak here today, gold prices are over $2,350 an ounce.
So in fact, many people are saying that at the rate it's moving right now,
that $3,000 forecast could be way conservative, just given the dynamic of what's going on
in our financial markets, our economy, the amount of buying that's taking place in gold,
in metals, excuse me, specifically gold, they're expecting to see some explosive gains
through the remainder of 2024.
I'm expecting it too.
I mean, just take the amount of gold central banks are buying these days, which is huge.
It's almost doubled, hasn't it?
They're just increasingly buying gold from all these central banks.
Central banks, they've been buying it for years, but they have in the last two years in particular have been overly aggressive with it.
But I'll tell you what, not to be the new kid on the block who's even presenting a stronger buying power is BRICS.
The alliance of, you know, started off as Brazil, Russia, India, China and South Africa.
And it's now grown into it's getting into the dozens of nations who are jumping on board.
One of the main attractions, or things that are drawing these countries in, is the fact that BRICS is looking to establish a gold-backed currency, and they have been amassing, again, these huge quantities of physical metal.
It's amazing.
And Chris, will you put the copy of the book that Dean and I have co-authored?
I want to show the cover of it.
And this book, by the way, is, if you call Swiss America at 1-800-519-6268, For those who are listening, I'm going to repeat it again, audio only, 1-800-519-6268.
Write it down, 1-800-519-6268.
The book is How the Coming Global Crash Will Create an Historic Gold Rush.
Now, Dean, we wrote this months ago, and you get this book free, and the book is an important read.
It's not a hefty read, but it's important.
We show in the book that there is a A relationship between when economic times get difficult and gold skyrocketing in price.
And I think one of the themes we want to develop today is that we are entering into one of these historic periods again.
And I think a global crash is already baked into the system.
But it was interesting as you look back in the years like 1970s, we see gold really beginning to take off with the Arab oil embargo.
And so that is a key point for today.
And Dean, you want to give some additional thoughts on that?
Well, yeah, I mean, it's traditionally speaking, gold has always been in the financial world and financial markets utilized as a as a hedge.
Again, the reason banks are doing this is that banks foresee that there are potential problems and disruptions, which.
I say potential.
We've had more than our fair share of banking disruptions and problems just over the course of the last 12 months with, you know, the bank closures that we've seen.
There's been problems with accounts being frozen and money's being lost and It's that should be service.
Somewhat of a wake-up call to just it kind of demonstrates if you will Jerry the fragility of our entire system and that they're in the problem is when you get into you know, banks and stocks bonds mutual funds all very good places to have money.
They've over time been very good assets, but they are A tradable piece of paper, if you will, and I can't even really say that anymore.
I started off in the investment banking business where we actually used to get stock certificates anymore.
It's all digital like anything else out there.
When you get into physical gold, where the strength comes from and why you see banks doing this and why you see BRICS doing it, or institutions doing this as well, is they know If a disruption, something unforeseen were to occur, which there are a lot of those potential unforeseen that exist out there today, that at the end of the day, when you have physical gold, you have an item that is what's referred to as a non-encumbered asset.
There's no debt tied to it.
Its value is based specifically on what it is.
You don't have to rely on the confidence of someone else paying an obligation off.
Like, even as a stock, you have a piece of paper that is reliant on a person recognizing there to be a value there.
The strength in gold, Jerry, that many people don't realize is that as we are doing this podcast here today, without us having to do a single thing, gold is actively being traded.
In yen, in mark, in lira, in dollars, in pounds, in euros, you go right through the whole gamut of currencies.
And why that is significant is the asset itself is not dependent on a single currency in order to give it value.
It has a universal currency.
So even if there's been a lot of people talking about because of the US debt and the problems that are kind of Yes.
or could be associated with that in a default potentially there, you know, what could happen
to our currency?
Well, yes, it could be very devastating to our currency.
I mean, BRICS, which I've referenced a moment ago, BRICS, they have set out, they have publicly
professed that their efforts are to de-dollarize the world, if you will.
They would like nothing else than to be rid of US dollars.
And that's something that could be very, very problematic for us.
But the strength, again, with gold, if a person has a million dollars, a hundred grand or
ten grand in their investment portfolio, whatever it is, and they have maybe 10 or 20 percent
of that into physical metal, they have something that if all that other stuff encounters a
problem, they have something that is actively being traded in every currency throughout
And that's where the true strength comes from.
It's intrinsic value.
It has value in itself.
That's unique.
As we review what this book covers, I mean, I go back and look at the presidency of Jimmy Carter and it had the legacies.
The back cover just details the history.
If you remember Jimmy Carter in 1971, I remember it very well with the gas lines and the Arab oil embargo, which was in 1973.
So you had the price of oil quadrupling.
The United States went into a deep recession that lasted until 1975.
It was a period of stagflation.
It was inflation and economic stagnation.
When Ronald Reagan was president, it hit $843 an ounce.
Okay, now that was dramatic from 1971, when Richard Nixon took us off the gold standard.
That was dramatic from 1971 when Richard Nixon took us off the gold standard.
Just a few years with the crisis that Carter brought on, gold is at $843 an ounce.
Then with the 2000-2009 subprime real estate market collapse and the bursting of the real estate bubble, the great recession that was caused there, in 2010, gold hit $1,426 an ounce.
2010, gold hit $1,426 an ounce.
With COVID, gold hit then high of $2,074 an ounce and 60 cents on March 8th.
So each of these crises, each of the economic disruptions
propelled gold to a much higher price.
And so therefore, we're already seeing it happen.
I mean, the stock market is yet doing well, but again, we're pumping so much money into the economy with this modern monetary theory, just printing money.
I mean, we have another trillion dollars in debt about every 90 to 100 days.
I mean, it frightens me.
I'm sure it frightens you, too.
Unmanageable.
Unmanageable.
You can't sustain it.
I mean, then we're paying now a trillion dollars in interest, and pretty soon the treasuries are going to start defaulting, or effectively defaulting, because you're just printing new treasuries that are worth less to pay off treasuries that were worth more.
And, you know, again, by the time you're just printing up fake money to pay what was real money lent, the treasuries are going to—this treasury market can suffer some major, major setbacks.
And I think that's coming, Dean.
What do you think?
Well, I absolutely agree.
I mean, listen, for all intents and practical purposes, some would argue that we've already had a default.
And what I mean by that, it's interesting we're discussing this because one of the gentlemen in our office, he and I were talking about this yesterday afternoon.
I got into this business in 1992.
I've been at Swiss America now for 32 years.
Swiss Swiss American now for 32 years and back then there was a book and you may be
familiar with it Jerry, but it was written or authored by Dr. Harry Figge and it was
entitled Bankruptcy 1995.
And it took a look at the fact that mathematically, and I want to say it came out in roughly 92, maybe 93, somewhere in that ballpark.
But mathematically, that by 1995, we were going to the interest on our debt back then was going to exceed Well, clearly we're well past 1995.
That hasn't happened.
But if you look at some of the things that have occurred, you know, one of the things that they've done a few times is the government goes into the Social Security Fund and starts taking money out of that.
A big shift or change, and this is where, you know, I would tend to kind of agree with those who suggested that, in effect, we have already defaulted.
Foreign countries, to a great extent, ceased buying our treasuries any longer because they didn't feel that they were worth the risk and they didn't think that they were a good bet, if you will.
So what in effect, not in effect, what in actuality occurred is our treasury just buys treasuries from themselves.
So it's the equivalency of using credit cards to basically pay off credit cards, which, you know, you're just fighting gravity at that point in terms of a default.
Well, they give it a fancy name, they call it quantitative easing, which means that basically the Federal Reserve buys the debt issued by the Treasury.
Now, if that isn't insane, it puts trillions of dollars on the Federal Reserve's balance sheet, which They are not real assets in any way because they bought these treasuries.
Everybody's just making up and hypothecating money.
They're just saying, well, we can just have another trillion.
Sure.
One other trillion is just a notation here on the computer.
We can have another trillion.
Well, how long can you keep doing that before people realize that this is a Ponzi scheme?
I mean, our currency is basically becoming a Ponzi scheme.
Right.
And, you know, this is this has been a problem for decades, decades and decades and decades.
And it doesn't help, you know, our current administration.
You know, I don't think Biden has said no to anything in terms of spending.
So not only are we fighting, just keep maintaining or keeping up with the interest costs on that debt, it certainly doesn't help when you've got a free spender out there as well.
Just, you know, throwing money at anything that has a pulse, if you will.
Well, I wonder how much of that's accountable, especially money going to Ukraine, and Ukraine doesn't seem to be a very reliable place to send money.
The other thing, looking at the economy... You say that as though it's a surprise.
I don't think accountability and what the government spends, those two terms or concepts should be used in the same sentence.
You find out, okay, the Pentagon's lost a trillion dollars.
They don't know where it is.
They can't account for it.
They can't find it.
Wait a minute.
Don't they have accountants?
I know these are insane.
To me, what's insane about that That's a trillion dollars.
If I went into my bank account and I had lost or couldn't find $500, I'd be like, hang on a second here, what's going on?
We're talking a trillion dollars.
How do you lose a trillion dollars?
They lost a trillion dollars.
Who knows how much we lost to Ukraine.
Ukraine is notorious for money laundering and losing money.
We give them another billion dollars and we're to go.
Well, we don't know.
You know, what did it buy?
Well, we don't know.
Right.
And so, you know, come home and tell your wife, honey, we just lost $10,000.
I don't know where it went.
That's not going to be a good day.
No, not at all.
The $500 thing would apply with my wife.
To her credit, she is very shrewd that way and very frugal that way.
And that's helped us both.
But nonetheless, $500, $10,000 is definitely not even close to $1 trillion.
Right.
Well, accountability is a good thing, and anybody can do disciplinary.
That's to be admired.
Now, the point I'm making, though, is that, okay, let's look at some of the Biden numbers.
I mean, I was reporting this yesterday.
The gas prices now, compared to Trump, are up 46%.
You know, when Trump left office, it was $2.42 a gallon.
March 2024, $3.54 a gallon.
Real wages have gone down.
Mortgage rates, this is one of the shockers.
When Trump left office, it was 2.8%.
It's now 6.4%.
I mean, Dean, what this reflects is that the purchasing power of the dollar is simply eroding, simply gone.
And this is going to squeeze the middle class, which I'm sure it's doing.
Saving rates under Trump up 129%, under Biden down 72%.
People are living on their credit cards.
Dean?
Right.
Right.
Absolutely right.
And you know, as we sit here and if you're watching the financial news channels or anything of that sort, they'll put up numbers just as you have.
We look at it and they're just numbers, but the real story behind those numbers, Jerry, is American households and families right now are hurting.
I mean, they are truly, truly hurting.
And it amazes me to this day, you will still find our government, our administration, they'll do a press conference or they'll do an interview of some kind.
And defending the fact that no, inflation is under control or inflation doesn't exist.
And yet, meanwhile, like you just put up here, I mean, mortgages cost more money, energy costs have gone up exorbitantly, food costs, housing costs.
I mean, you go right down the whole list.
There is nothing less expensive in terms of those things that we need, the necessities of life.
There's nothing less expensive about today than there was a year ago.
And And again, that's just, it's good conversation for this podcast, and there's just, as I mentioned, numbers, but truly, and you kind of touched on it, you know, you have Americans that are having to pull out of their retirement and their savings account just to put food on the table.
Others are having to, you know, tap their credit card to buy their groceries.
There's a problem, and my concern with it, and again, something we've covered in our podcast before, is that You know, the fact that the government is not acknowledging it even exists, by and large, that's one thing.
But the second thing is what the concern there being is, how is it going to get any better if they're not even acknowledging there's a problem there?
And the answer to that is it really is not.
Then you couple that with, you know, what's happening, as we've mentioned, with BRICS and how there's this global initiative, really, of de-dollarizing the world.
As that happens, that is only going to throw more gasoline on the fire, and that fire being the higher food costs, energy costs, overall cost of living that each one of us are having to, you know, endure right now.
It's remarkable.
You take a hundred dollars to go to the grocery store and see how little it buys.
Or, you know, you get one bag of groceries and you look, it's $150.
And this is just shocking.
It's hard to imagine how much the dollar has deteriorated in value recently.
I mean, and yet we're told there's no inflation.
I think you make a very good point.
And then the amount of extended credit card.
We're now at over a trillion dollars in credit card debt.
And you're finding that across the country, there's no state that's under 10% in credit card defaults.
We're already at 10%.
Now, when that goes to 20%, we're going to have some major economic problems because consumers are going to stop buying.
And that's what fuels the economy.
I want to kind of slightly shift gears to talk about the impending, I think, bank crisis.
Let's talk about the commercial real estate and what's happening in the cities.
The commercial real estate vacancy rates are alarmingly high.
People have not gone back to the offices after COVID.
And then you look at cities like San Francisco, where you've got homelessness everywhere, you've got filth everywhere, dangers with crime, the businesses leave.
I remember Union Square, I lived in Portland, Oregon, I would be in San Francisco constantly.
And you, it was a beautiful city and Union Square had great shops to it.
Now they're all boarded up.
Well, these cities are going to go bankrupt.
I mean, we're at, and when they go bankrupt, when these buildings have to be refinanced and the banks have to take, or somebody's got to take the loss.
I mean, you know, commercial real estate, you pay the last payment, you pay the mortgage principal from the previous payment.
But if you're refinancing at a lower.
amount, you may not have the money to repay the initial principal for the previous loan.
Somebody's got to take that loan. So I foresee major bank failures coming, and it won't take
much to set that cycle off. What are your thoughts on that, Dean? You're absolutely right.
And with that one area that you're mentioning, the commercial real estate, you kind of hit on a lot of various nerves out there.
You're right.
People not going back to the office after COVID.
Our office, we have our own building, but I would say roughly 80 to 85% of our representatives have the ability to work remote if need be.
Uh, they're still completely tied into our office.
We all of our operations are still there, but it's the whole work dynamic has changed immensely.
But then you take a city like San Francisco, which is probably to some extent, in my opinion, one of the worst in so much is that.
You know, the societal problem that they've bred, I mean, they have to ask, I think it's, no, bleach, excuse me, they have to bleach the sidewalks because of the fecal matter, the hepatitis, the dirty syringes everywhere.
Just all reasons, that is not going to attract tourism, that is not going to attract commercial or retail type business to come into your town when you're dealing with those kind of issues.
And then you're talking to California as well.
As a state, I mean, you're talking about a ship that is just wayward, in my opinion.
I was just watching the thing the other day, and I'm sure you've heard of it, where, you know, they're now paying slave reparations to people who Number one, weren't even slaves.
They didn't even have slavery in California when all that was going on.
And yet now they're the one state out there that's paying reparations.
So it's just the perfect storm is brewing.
And I know I'm kind of going off on a lot of tangents here, but they are all related.
I mean, it is doing nothing to foster strength back into the commercial real estate marketplace.
And it's going to be very interesting to see what happens.
It will be, I think, somewhat of a shock to me anyways.
The federal government will likely step in much like they did back in early 2000, mid 2000s when AIG went under and they had to come in with the rail out there.
I don't see how that doesn't happen, because if it does not happen, you're right.
In terms of banks falling over, it'll be like tripping that first domino, and they're just going to all start to fall.
Yeah, I mean, I don't think we are in the financial position that we were in 2008-2009, because today the national debt is so high.
$34 trillion, we're exceeding GDP with the national debt, and so if we had to print another, you know, $100, $200, $300, $500 million, another trillion dollars to bail out banks and San Francisco and St.
Louis and Detroit and Baltimore, and the list goes on, because Here in New York, I'm in New Jersey, but in New York City they've already called out the National Guard to patrol the subways because the subways aren't safe.
People are sleeping on the subways, the crime is all over the place, defunding the police.
I mean, so we've got a rapid deterioration of lifestyle and economics going on in the country with an administration that is touting that Bidenomics is this Miracle.
I don't see the miracle.
I'm sorry, I see destruction.
It's a miracle in reverse, is what it is.
I mean, in a perfect world, all that defunding of the police, maybe somebody could find that trillion dollars that the Pentagon lost and give that to the police, and that might right a lot of wrongs out there.
But we don't live in a perfect world, Jerry, so I don't think that's going to happen.
Well, again, to come back to the theme of gold, I've been We predicted in this book we wrote together that there would be an historic gold rush, and I think it's started.
It's clearly started.
I mean, I've been watching it daily and reporting on the Truth Central podcast almost every day,
and it's gone from under $2,000 an ounce at the end of 2023, and now it's at over $2,300 an ounce,
quickly going to $2,400 an ounce. I mean, the acceleration of the price is, to me,
an indication that this historic gold rush has started at a time when the economics are only
going to deteriorate.
I don't see any way that we're getting out of this quick.
There's so many different parts of the economy.
It's like a systemic collapse.
Right.
You're absolutely right.
Well, and I think, you know, as you talk about gold and the history of gold, you had mentioned earlier or referenced the Carter administration, which was the, for a long while, the all-time high in gold, which just shy of 900 bucks an ounce.
So now as you have, you know, people today, and I've heard them say like, oh, gold's so expensive now, and you start hearing prices like $3,000 an ounce.
Oh, I can't believe it'll go that high.
Well, a very important thing to understand is that Adjusted for inflation, gold at $3,000 an ounce is basically the equivalent of the high it was back during the Carter administration.
And why I think it's very important to understand is that we all know, back during the Carter administration, you could buy a pretty decent new car for roughly $3,000, $4,000, give or take.
That's not the case.
I don't think you can touch any new car, for the most part, for much less than 30 or 40 grand with today's dollars.
So, that same type of pricing, when we talk about gold hitting that level of three grand, it really is just the equivalency of what it was doing in the 70s at just shy of $900 an ounce.
So, it's certainly not something for people to be reluctant or hesitant to get involved in the marketplace because The problems that we have with the debt, the turmoil, and all these various things that are brewing out there today versus what we had back then, the ramifications or repercussions of what we have happening around us today, unfortunately, will likely be far more severe than anything we were dealing with back then.
Well, you know, it's like you've got this publication on the secret war on cash, I think there's also a secret magic of gold in the sense that it wouldn't be another bad publication because what you're pointing out, another way to look at this is that the same amount of gold that bought a house probably in 1920 would buy a house today.
A very nice one. A very nice one. And so therefore, the gold has retained its value,
has retained its purchasing power, but the currency has lost its purchasing power.
And so therefore, you've invested in being able to hold purchasing power stable by taking
the cash here and putting it into gold, because this cash you've got isn't going to be worth very
much when you get it down the road.
The cash is going to decrease in value.
The first house I bought, I paid, I think, $32,000 for.
It was a very nice house in Albuquerque, New Mexico, when I was teaching in the university.
A very nice house.
There's no way I could buy a $32,000 house, I don't think, anywhere in the country.
Maybe some places, but certainly not in New Jersey.
Not in New Jersey, you can't.
You might be able to find something for $32,000, but for a plethora of reasons, you probably wouldn't want to live there.
I'm not sure it would have running water or sewage.
$32,000 is not going to take a bite out of much in the real estate market today.
I used to think a million dollars was a lot of money.
A million dollar house had to be like a mansion, certainly when I grew up it was.
Today, average houses in New Jersey, $400,000 or $500,000, and they're not that spectacular.
New York is even worse.
And again, it reflects the loss in purchasing power of the dollar because of all the economics that we've done.
Congress is, I think, incapable today of balancing a budget.
They cannot do it.
All they do is another continuing resolution, they kick it down the road, and you've got all the entitlement programs, plus Social Security, which is really not an entitlement program the same way that Medicare is, etc.
But with an aging population, you're going to have more Social Security benefits being paid out.
And the Congress has robbed the Social Security, as you pointed out.
You go to the Social Security Trust Fund, you find a bunch of IOUs, which are the Treasury bills.
You put a pile of paper in there, or electronic blips representing Treasury bills.
And so we're dealing in a world, what scares me about this digital world is that there's nothing concrete about it.
And we go into digital currency, what happens if they don't like one of my podcasts?
Do I lose all my money because they turned it off?
Potentially.
Look, that's happening right now as we speak.
I mean, we've done numerous podcasts talking about or highlighting people that have inexplicably had their bank accounts frozen.
They've inexplicably had monies removed.
In some cases, we're talking hundreds of thousands of dollars removed.
And in trying to get answers from the bank, they are getting stonewalled the entire time.
In fact, I didn't check recently, but I know one individual was several hundred thousand dollars and we're getting close to a year that they have not had their funds returned to them.
And they're made legally.
They were using an account that had been established for decades.
You know, it's so the banking crisis is here.
But to your point, you know, as we've been covering this and we, you know, obviously, we saw what happened in the with the bank was at Silicon Valley Bank that closed early part of 2023.
And then there was a succession of some others.
So as that's all going on, and people are having their accounts frozen, they're having money lost.
Then at the forefront of conversation, you hear how the whole banking industry is going to switch to CBDCs, Central Bank Digital Currencies, which is like, it's a blip on your computer screen.
If we didn't have enough, we've already seen some of the problems that happen in the crypto world and the digital currency world with I mean, good heavens, Jamie Dimon has been very vocal about this, how, you know, it's a currency for criminals, basically.
And it's something that when you, the recourse you have, if there was ever a problem, who do you go talk to?
Like even, and again, we're running into that problem with banks right now.
Like these people who have had problems with their banks and they actually go into a branch, they're still not getting the answers they need.
And you've got a ton of banks throughout the country where the branches are actually closing.
They're just shutting down locations.
So everything's being done over the telephone.
And if they're lucky, in many cases, it's just through the computer and they're not getting answers.
But now we're gonna make this switch into CBDCs To me, that's frightening, because now you're talking about even that much less, if you will, tangibility to your wealth.
Yeah, what happens if we have a major grid go down, like electricity goes down, or a cyber attack that shuts down the grid?
What do you do to get your money?
Your cell phones don't work?
You can't access anything electronically?
I mean, we're dependent now upon this meta world, which is all ethereal.
It exists somewhere in the cyberspace, wherever that is.
But there's absolutely, if it goes away, how are you going to find your money?
Right.
And the government also confiscates money, which scares me too.
And it has a whole scheme where they can demand, just take your money.
Correct.
And it's with really no explanation.
And that's that's been the problem.
I mean, they feel there was maybe some suspicious activity or that the funds may have potentially been illicitly gained.
And you're talking to some of these people who had their accounts frozen, Jerry.
These are people, like I say, they've had these bank accounts for decades.
And they've been cashing the same check in that same account for years and years and years.
But now all of a sudden, it falls under some scrutiny as to being suspicious.
And again, that's the benefit of having gold.
I mean, gold, you know, I used to tell people when I was working more one-on-one with clients myself, You know, gold's really not a complicated thing.
The good Lord himself took the time and trouble to put the stuff in the ground.
And quite literally, since day one, when man started pulling it out, it has been of a sought-after and cherished value.
Hasn't stopped that from the beginning of time until where we sit today.
In fact, if a person believed in the Bible, you really want to take it to extremes, we'll go as far as to say that the Bible tells us the streets of heaven is paved with this stuff.
Value in the beginning, everywhere in between.
And if we go that route, it's had a value in the end.
To this day, right now, I could put a fistful of gold in someone's hand or my own, drop them into the middle of a jungle somewhere where there still are tribes that don't have power, electricity, etc.
And gold, there is literally nowhere in the world you can go that you present that to someone and it doesn't just automatically have some kind of a recognized value to it.
That's right, and let's change shift a little bit again for another part of the conversation.
If someone calls Swiss America, why don't you describe, or they get a free copy of the book by calling the toll-free number, Chris will put it up in a minute, and it's 1-800-519-6268.
What happens?
They call Swiss America and describe the process.
Yeah, what I would encourage anyone tuning into this podcast, especially if you're brand brand new to the gold market, don't go running out and buy gold right now.
Don't do that right away.
I mean, time to do it is certainly right here right now.
But start with giving yourself a little bit of an education.
You're so graciously, Jerry, on this podcast, offering listeners a copy of this book.
It's complimentary.
There's no charge for it.
Get a copy of that.
It's a little longer read.
Contact our office.
Have them send off some of our information, our materials to you, kind of giving you a little history of the gold market.
We have the secret war in cash, as I mentioned earlier.
Is a very comprehensive report that takes a very deep look into some of these economic and financial problems that are have been developing and are brewing under there.
So you get an overall understanding of what's going to drive the gold market.
Get yourself that education.
Get yourself that understanding.
Talk to the representative.
Ask them questions.
There's no obligation.
What we tell people is that upon looking at this information and whatever conversations or discussions you might have with the representative, if at that point you don't feel this is the right move or the right market for you, then don't do it.
But I'm hard pressed to believe that if any person, especially who's tuning into this podcast, is looking at what's taking shape in the world around them today, Number one, they have concerns and they're justified, and number two, if they have any kind of savings or investment monies, a portion of that, at minimum, should be going into some form of physical metal.
And not everybody's needs for gold are the same, are they?
I mean, it really has to fit what the person's needs are.
Why don't you discuss how that goes, because give some examples of how different needs might be reflected.
Like any financial market, you know, you have, you take real estate as an example.
We all are pretty much familiar with a home that we would live in, our house, our residence, but you can also buy like an investment property, something that you're investing money into.
I'm not talking per se about necessarily a renter, but something you're buying with the hope of future appreciation.
You could also get into something that is just like raw land And where, you know, again, you're looking for appreciation down the line, etc.
Gold is kind of the same thing.
If you're looking to just get like a bull position in metal, that's what's commonly referred to as bullion metal.
And bullion can oftentimes people think of that as being a like a bar.
That's what bullion means.
a bar is bullion, but bullion can also be a coin like a South African Krugerrand or an American
Eagle. It can be an ingot. It can be anything that by definition, bullion is anything that is
valued predominantly based on what the weight of the object is. Then you can get into forms of gold
that have a little bit more of an investment characteristic to it where a good majority of
its value is based on the metal in it, but it has a certain kind of scarcity to it.
So it's kind of like...
Buying a home in a little better neighborhood where you're going to find maybe a little better appreciation over time.
And then you have other forms of gold that are really more specifically investment centric or driven where the metal content may be a lesser significant portion of its value.
But again, that's offset because it has better scarcity, better investment appeal, and over time has provided, again, historically, a better form of appreciation or growth.
So, it's like anything else, like when you go and talk to a stockbroker, you want to maybe have something for your immediate cash needs, you want something that's going to be a low risk, but maybe give you a little bit of appreciation, and then something that maybe Might provide you with a little better overall growth over time.
That's the same dynamic that you have in this marketplace.
You just in talking to a representative need to kind of get a better understanding of that, and then you can make the determination of what's going to fit best with what your needs are.
It's really tailored to each individual.
And so you can take someone who says, look, I don't have a lot of money, but I would like to have some appreciation of what I do have.
Or someone who says, I've got a retirement account and I'm very worried about losing retirement dollars over a long period of time.
So you can tailor that to each person's needs.
And I think that's an important concept of consultative selling.
Well, and one thing, you mentioned retirement accounts, that's been a very, very, for lack of a better term, popular area or thing that people have been doing is, they weren't prior to talking to us or hearing something like this podcast, aware of the fact that, you know, that old pension or 401k or IRA that they had, that they could actually buy physical metal with that.
And so that's, if you look at it, you know, people who did that 10, 15, 20 years ago, ago, excuse me, in large
protectionary reasons. Th something physical. They
their money was in someth wasn't going to just disa
has been. And according t talking about $3,000 plus
has been the growth and a achieved.
So it's kind of you're killing both the birds with one stone.
And, you know, when you're looking at gold and these forecasts being what they are, I mean, the reality is gold has been literally one of the top performing asset classes for the last decade plus now.
So it's established itself as not just as a good safe haven, but a very, very solid investment class as well.
Well, I think it's been a very good discussion.
I think we're reaching kind of the end of the time.
Again, Chris, if you'll put up the free book, we'll take a look at it.
Dean and I have authored this book.
I think it has been very predictive of where things are going.
It's how the coming global crash, which is coming, how the coming global crash will create a historic gold rush.
And Dean and I have co-authored it.
You get a free copy by calling the toll-free number 1-800-519-6268.
Dean, thank you for joining us.
I think we've covered a lot of ground.
We'll do this again.
And Joe, if you were wondering, that's not a halo on my head.
That's a, there's a bright window behind me.
Well, I thought maybe you'd advance to another stage.
And also, it also looks like a cross from behind you.
So we've got, we've got a lot of double significance here.
Yeah, for sure.
But hey, I'd rather be associated with those symbols than some of the others.
