Latest / The Bullion Advantage | Wealth Protection, Politics and Finance Insights From The #1 UK Gold Dealer / Major Market Shifts You May Have Missed & Labour Comes For Your Pension

Transcript

Major Market Shifts You May Have Missed & Labour Comes For Your Pension · The Bullion Advantage | Wealth Protection, Politics and Finance Insights From The #1 UK Gold Dealer

• 0:00
  SPEAKER_01: What happens in Japan doesn't usually feel like something we need to worry about here in Britain.
• 0:06
  SPEAKER_01: But the global finance system is far more interconnected than most people realise.
• 0:10
  SPEAKER_01: And what's happening to the Japanese yen could be a warning sign that deserves all of our attention.
• 0:16
  SPEAKER_01: For decades, the yen has been one of the world's cheapest sources of borrowed money, helping fuel financial activity far beyond Japan.
• 0:24
  SPEAKER_01: Now, that relationship is starting to unwind.
• 0:27
  SPEAKER_01: The yen is under serious pressure, Japanese interest rates are rising, and the authorities have reportedly spent tens of billions of dollars trying to support their currency.
• 0:37
  SPEAKER_01: At the same time, the United States is dealing with enormous refinancing requirements and rising borrowing costs.
• 0:45
  SPEAKER_01: This is creating another layer of pressure on the global financial system.
• 0:49
  SPEAKER_01: Today we're going to look at what these developments could mean for people thinking about protecting their wealth.
• 0:54
  SPEAKER_01: By the end of this episode, you'll have a clearer understanding of the connections between the yen, the dollar, global debt, and the wider financial system.
• 1:02
  SPEAKER_01: Plus why these developments actually have consequences much closer to home.
• 1:06
  SPEAKER_01: Please do remember to like and subscribe if you're watching on YouTube, or if you're listening on Spotify or Apple Podcasts, please do follow the show so you never miss an update.
• 1:17
  SPEAKER_01: Just before we start today's episode, we've got something really exciting for our listeners.
• 1:21
  SPEAKER_01: If you're enjoying the Bullion Advantage, now's your chance to win two ounces of silver.
• 1:26
  SPEAKER_01: All you've got to do is rate the podcast five stars on Spotify, Apple Podcasts, or your preferred platform.
• 1:32
  SPEAKER_01: Take a screenshot showing your rating and send it to podcast at directbullion.com or just send it via direct message to our Instagram or Facebook accounts.
• 1:42
  SPEAKER_01: That's it.
• 1:43
  SPEAKER_01: You'll be entered into the draw to win two ounces of silver.
• 1:46
  SPEAKER_01: We'll contact the winner on Wednesday, the 9th of September, so make sure you get your entry in before then.
• 1:52
  SPEAKER_01: And if you're already enjoying the podcast, we'd really appreciate that five star rating.
• 1:56
  SPEAKER_01: It helps more people discover the bullion advantage too.
• 1:59
  SPEAKER_01: Don't worry, we'll leave all the details for the competition in the description below.
• 2:03
  SPEAKER_01: Good luck, and let's get into today's podcast.
• 2:06
  SPEAKER_01: Harry, welcome back.
• 2:07
  SPEAKER_01: Hiya Jake, how are you?
• 2:09
  SPEAKER_01: Yeah, good mate.
• 2:10
  SPEAKER_01: Good to be back.
• 2:11
  SPEAKER_01: So someone in Britain is probably thinking, This is all happening in Japan and America.
• 2:15
  SPEAKER_01: Why on earth should I care about this?
• 2:17
  SPEAKER_01: Yeah.
• 2:18
  SPEAKER_01: What would you say to them?
• 2:19
  SPEAKER_00: Yeah, definitely.
• 2:20
  SPEAKER_00: I think it's um I don't like boring people where trying to talk about foreign affairs, but actually it's it's really important.
• 2:26
  SPEAKER_00: And the the bottom line is money moves globally, right?
• 2:29
  SPEAKER_00: Yes, we have the pound here, but we trade in all sorts, and and that's something we're going to go into in a bit more detail.
• 2:35
  SPEAKER_00: But Japan's yen recently fell to a 40-year low against the dollar.
• 2:40
  SPEAKER_00: Yeah.
• 2:40
  SPEAKER_00: So for one dollar, it's about 160, uh, I think it's about 164 yen, and that was as of July.
• 2:45
  SPEAKER_00: And the reason it matters so much is because the yen is actually one of the cheap funding currencies of the world.
• 2:50
  SPEAKER_00: You can imagine Japan exports a hell of a lot of products and and produce.
• 2:55
  SPEAKER_00: Absolutely.
• 2:55
  SPEAKER_00: And because of that, investors borrow against the yen because it's such a consistent market.
• 3:00
  SPEAKER_00: We know what we're getting from the the Japanese markets, especially the technology and that side of the cheap currency to borrow.
• 3:07
  SPEAKER_00: Exactly that.
• 3:08
  SPEAKER_00: And if they've borrowed yen and we start to see the yen fall, it's the ongoing effect of that.
• 3:13
  SPEAKER_00: So yes, we've got pounds here, but then the import prices start changing, and it's uh almost a double tax on that as you'll see it.
• 3:21
  SPEAKER_00: And I think the reason we know it's a major issue is the US, the US are diving in to try prop up the Japanese market.
• 3:28
  SPEAKER_00: Yeah, Mr.
• 3:29
  SPEAKER_00: Donald Trump, the man who wants everything to be in America, all business to come back to America, even he's acknowledging the fact that okay, there's there's an issue here we we need to support.
• 3:39
  SPEAKER_01: Absolutely.
• 3:40
  SPEAKER_01: Is there any any cause for concern about the value of the pound through all of this?
• 3:44
  SPEAKER_00: Yeah, definitely.
• 3:44
  SPEAKER_00: I mean that the pound's gonna come under serious pressure because again, it's traded, it's exchanged against foreign currencies, and it's really important to remember that we move quickly with with the times of this.
• 3:55
  SPEAKER_00: And if if investors suddenly want dollars or other perceived safe haven assets, that's gonna weaken the sterling.
• 4:02
  SPEAKER_00: You you don't want that to be happening.
• 4:04
  SPEAKER_01: Exactly that.
• 4:04
  SPEAKER_01: And yeah, to make it more relevant for the listener, what could this kind of instability mean for people's pensions, their savings, their financial assets, etc.?
• 4:13
  SPEAKER_00: I want to make sure I'm making this it becomes a very complicated subject, and I I don't want to bore people with the the intricacies of it, and by all means we can go into more detail if if individuals do want to speak about it.
• 4:24
  SPEAKER_00: But if the pound falls 10% against the dollar, a thousand dollars imported product doesn't suddenly become 10% more expensive in dollars, but it's the sterling cost that can dramatically rise unless the exporter cuts its own costs.
• 4:38
  SPEAKER_00: So unless they say, Oh, the the pound's not doing great, mate, so we'll we'll make it cheaper for you.
• 4:43
  SPEAKER_00: Yeah, that's that's not how business works, that's not how the world works.
• 4:45
  SPEAKER_00: So those are the repercussions of it.
• 4:48
  SPEAKER_00: The factors, there are millions of factors as to why that's going to affect it, but that's the actual thing.
• 4:53
  SPEAKER_00: It's not just simple figures on a screen, it's the trade process of getting products in.
• 4:57
  SPEAKER_00: We don't produce an awful lot in Britain though.
• 4:59
  SPEAKER_00: We don't.
• 5:00
  SPEAKER_00: Most of what we have is imported.
• 5:02
  SPEAKER_00: So if most of what we get is imported and the countries we're importing it from are importing from Japan Dum dum dum dum, knock-on effect the whole way down the chain, isn't it?
• 5:11
  SPEAKER_01: Exactly that.
• 5:11
  SPEAKER_00: It's the consumer at the end who ends up feeling the pinch the most.
• 5:14
  SPEAKER_01: Yeah, just following on from that, all this disruption, do you think everyday goods generally, everyday goods and services could just become more expensive because of this?
• 5:23
  SPEAKER_00: I think more to the point on the the the pension point you're asking, I think it's how much of your pension is exposed to risk, I think is what what people need to start looking at.
• 5:33
  SPEAKER_00: For example, someone with I don't know, 500,000 who invested and they see a 20% drop because the markets are are taking a tumble because we're seeing them come down.
• 5:42
  SPEAKER_00: And this is figures we've been seeing in uh like the Japanese stock market, like the Korean stock market.
• 5:47
  SPEAKER_00: Yeah, funny enough, actually, this is a uh a really good info.
• 5:50
  SPEAKER_00: South Korea have just started purchasing gold again for the first time in 13 years.
• 5:55
  SPEAKER_00: Yeah, I saw that that is huge, and uh goes it's nice that obviously we preach about gold and say it, but how telling that their stock market's on the cusp of collapse, and what are their banks doing straight to gold?
• 6:07
  SPEAKER_00: So um that's a good thing.
• 6:08
  SPEAKER_00: But sorry, I I was saying someone with 500,000, they see a 20% market full temporarily, that that's their portfolio what going down to 400,000.
• 6:16
  SPEAKER_00: That's a£100,000 paper loss in a pension.
• 6:20
  SPEAKER_01: Yeah, crazy.
• 6:21
  SPEAKER_00: Now, if you're our age, Jake, and you've got the next 30 years to see that money come back, fab, brilliant, you can ride it out.
• 6:27
  SPEAKER_00: There's gonna be peaks and troughs.
• 6:29
  SPEAKER_00: But what about someone who's 64?
• 6:31
  SPEAKER_00: What about someone who needs that money immediately?
• 6:33
  SPEAKER_00: So I guess the question is less will the markets crash, it's what happens to me if the markets crash 20, 30, 40 percent I mean 40% maybe not, but even 20-30% possible at precisely the wrong time.
• 6:45
  SPEAKER_00: What what happens?
• 6:46
  SPEAKER_00: That that is the question, isn't it?
• 6:48
  SPEAKER_00: And I think that's the the real worry for people.
• 6:50
  SPEAKER_00: So don't think oh the the Japanese market's going down, it's it's no good.
• 6:55
  SPEAKER_00: Well, actually, here are the knock-on effects for you.
• 6:57
  SPEAKER_00: It can seriously damage portfolios.
• 6:59
  SPEAKER_01: So if you're sitting in Britain now with all your savings in the pound, what's the biggest lesson you should probably take away from what's happening overseas?
• 7:08
  SPEAKER_00: I I think you've got to think about energy, food, fuel, electronics, vehicles, industrial companies, raw material, all these sort of things that all have to be sourced and are are provided from external countries and imported from external countries.
• 7:22
  SPEAKER_00: If sterling weakens while commodity prices rise, British consumers are gonna get hit twice, right?
• 7:27
  SPEAKER_00: Yeah, that's gonna be through the commodity price and the exchange rate.
• 7:30
  SPEAKER_00: So we've covered both now.
• 7:32
  SPEAKER_00: The products are gonna cost more, which is gonna be a knock-on effect.
• 7:35
  SPEAKER_00: Also, the pound's gonna be weaker, it's gonna cost even more on top of that.
• 7:39
  SPEAKER_00: Exactly.
• 7:39
  SPEAKER_00: It's that double hit.
• 7:40
  SPEAKER_00: So, put very simply,£100,000 is not the same as£100,000 purchasing power.
• 7:46
  SPEAKER_00: Completely different things.
• 7:47
  SPEAKER_00: This is what people need to understand.
• 7:49
  SPEAKER_00: If inflation averages 3% for 10 years,£100,000 held in cash would have the purchasing power of about 74,000.
• 7:56
  SPEAKER_00: Yeah, you're losing£25,000.
• 8:00
  SPEAKER_00: Don't tell us what the figure on your bank screen says.
• 8:03
  SPEAKER_00: The categoric answer is yes, it says the same figure, it is not worth the same value.
• 8:09
  SPEAKER_01: Absolutely not.
• 8:10
  SPEAKER_00: So don't depend entirely on one currency, one country, or one asset class.
• 8:15
  SPEAKER_00: That is the main takeaway I want people to have from this.
• 8:18
  SPEAKER_01: 100%.
• 8:19
  SPEAKER_01: And if you were speaking to someone directly in the UK who's not owned physical gold before, what would you want them to understand about this situation as well?
• 8:28
  SPEAKER_00: I preach this constantly.
• 8:30
  SPEAKER_00: Gold is not a get rich quick investment.
• 8:34
  SPEAKER_00: It is not.
• 8:35
  SPEAKER_00: Don't put your money into gold to think you're gonna become a billionaire overnight and a crypto trader or whatever it is.
• 8:41
  SPEAKER_00: The attraction is that it isn't somebody else's debt, it isn't manipulated, there is no counterparty risk.
• 8:49
  SPEAKER_00: Gold will always be there and will always be the safe haven to lean on.
• 8:53
  SPEAKER_00: Again, Korea, South Korea have just bought for the first time in 13 years.
• 8:58
  SPEAKER_00: Their markets are going belly up, and they're going, right, we need to get our ducks in a row.
• 9:03
  SPEAKER_00: Where are we gonna protect ourselves?
• 9:04
  SPEAKER_00: Where are we gonna stop hemorrhaging gold?
• 9:06
  SPEAKER_00: And that's where they're going to it.
• 9:09
  SPEAKER_01: Alongside this, the US has around$9 trillion of debt, and that's short-term debt that needs refinancing this year.
• 9:17
  SPEAKER_01: Again, for people listening in Britain, why do we need to care about that?
• 9:21
  SPEAKER_00: I mean, this is such a massive question, Jake.
• 9:24
  SPEAKER_00: It's really hard to sort of condense this into a 20-minute podcast, but I want to try give this uh as simple an explanation as possible.
• 9:32
  SPEAKER_00: This doesn't mean America suddenly has to find nine trillion dollars and pay off its debt.
• 9:38
  SPEAKER_00: I mean governments routinely refinance maturing debt and issue new debt.
• 9:42
  SPEAKER_00: Yeah, but the real issue is what interest rates they have to pay when they refinance it.
• 9:48
  SPEAKER_00: Trump's biggest thing, he wants to try to get interest rates down to a percent at the moment.
• 9:51
  SPEAKER_00: So when they refinance this debt, what does that mean?
• 9:54
  SPEAKER_00: They're paying less interest on it.
• 9:55
  SPEAKER_00: Because realistically, I mean nine trillion.
• 9:58
  SPEAKER_00: We're talking huge, huge figures, and again, so many moving parts and cogs in this.
• 10:04
  SPEAKER_00: The only thing they can control is how much are we gonna have to repay on top of the repayment, and I think that's why they're looking at it.
• 10:10
  SPEAKER_01: So ultimately, is this just a big warning about how fragile and interconnected the global financial system is now?
• 10:18
  SPEAKER_00: I'd say the yen carry trade is the symptom, not necessarily the disease.
• 10:23
  SPEAKER_00: The deep issue is leverage.
• 10:25
  SPEAKER_00: Uh, for years, investors have been able to borrow cheaply, invest elsewhere, and assume that the currency and interest rates would remain reasonable.
• 10:32
  SPEAKER_00: But when that assumption changes, thousands of seemingly unrelated trades can suddenly become very much related.
• 10:38
  SPEAKER_00: So what's happening in the East suddenly affects the West, and vice versa.
• 10:42
  SPEAKER_00: We've seen this with the petrodollar contract we've spoken about, we're seeing it with the the Japanese market, we're seeing it with the Korean market, we're seeing it with the American interest rates.
• 10:51
  SPEAKER_00: On a more micro level, we're seeing it here.
• 10:53
  SPEAKER_00: I think we have to be realistic, we're not the powerhouse we were.
• 10:56
  SPEAKER_00: Andy Burnham's current affairs are far more local than global, and and but that's okay.
• 11:02
  SPEAKER_00: This country needs fixing right now, so you you want the focus to slightly be on that.
• 11:06
  SPEAKER_00: But global debt was estimated to be around 346 trillion, 346 trillion at the end of 2025.
• 11:15
  SPEAKER_00: And I think for us to comprehend that is not something we can do here, and that's why I say look, stop looking at this on a on a monumental scale.
• 11:24
  SPEAKER_00: We're not sitting on the 90th floor of JP Morgan trying to decide the next move for our hedge fund.
• 11:30
  SPEAKER_00: What we are trying to do is protect ourselves and protect what we currently have.
• 11:33
  SPEAKER_00: So that's where I would say the focus needs to be on.
• 11:36
  SPEAKER_01: Let's just quickly turn to a story that could have a very direct impact on loads of people across Britain.
• 11:43
  SPEAKER_01: Capital economics, that's a big economics consultancy.
• 11:47
  SPEAKER_01: They've given a quite a big warning ahead of the budget, and which is obviously coming up sooner rather than later.
• 11:55
  SPEAKER_01: And they're suggesting that the government is gonna need to find as much as£25 billion, and that's only that's only really gonna come through a combination of different taxes.
• 12:05
  SPEAKER_01: So what's interesting about that is obviously where they're gonna get the money from.
• 12:09
  SPEAKER_01: And I'd love to get your thoughts on what's being proposed and why it's important for everyone listening.
• 12:15
  SPEAKER_01: If the government really does need to raise tens of billions of pounds in the relatively near future, they're gonna have to find the money from somewhere, right?
• 12:23
  SPEAKER_01: So, in typical Labour fashion, they're not ruling anything out.
• 12:28
  SPEAKER_01: Yeah, but capital gains tax is something that's probably got the hottest rumours behind it.
• 12:32
  SPEAKER_01: How are they gonna come for that when it's already Yeah?
• 12:35
  SPEAKER_00: I think we thought capital gains tax was gonna be uh affected under the Rachel Reeves budget and it wasn't.
• 12:40
  SPEAKER_00: And I think it kind of bought her a bit of time.
• 12:43
  SPEAKER_00: I think if they went for the capital gains straight away, I think they knew it was gonna be a jugular thing.
• 12:47
  SPEAKER_00: The the worrying thing is, Jake, it seems like they're pushing or kicking the can further and further down the road to force the situation where they're like, Well, look, we've got no other option, now we have to do it.
• 12:58
  SPEAKER_00: So they're waiting for the ultimate issues to rise before addressing it.
• 13:03
  SPEAKER_00: People aren't gonna like the capital gains tax increase, but it probably should have happened a little while ago if they were gonna do it.
• 13:09
  SPEAKER_00: Yeah, instead, they're waiting for it to get so terrible that they're like, Oh, we've got no other option now.
• 13:16
  SPEAKER_00: And that's what it feels like.
• 13:18
  SPEAKER_00: Who's it gonna affect?
• 13:19
  SPEAKER_00: Everyone.
• 13:20
  SPEAKER_00: Everyone, if£3,000 is the is the threshold for it.
• 13:24
  SPEAKER_00: Yeah, great.
• 13:25
  SPEAKER_00: So I mean, if you make any profit, you're you're you're buggered, and then on top of that, you're gonna pay more tax on it.
• 13:31
  SPEAKER_01: Well, yeah.
• 13:32
  SPEAKER_01: I mean, it's already£3,000, they can't really reduce the threshold.
• 13:36
  SPEAKER_01: You're gonna have to raise the percentage.
• 13:37
  SPEAKER_00: Well, uh, we're supposed to be thankful that we're not getting that threshold reduced.
• 13:41
  SPEAKER_00: Uh honestly, Jake, if you're in an asset class or an investment or anything and you haven't made£3,000 profit, you're not in an asset or an investment.
• 13:49
  SPEAKER_00: It's as simple as that.
• 13:50
  SPEAKER_00: No.
• 13:50
  SPEAKER_00: I mean, so it is far school.
• 13:52
  SPEAKER_00: The worrying thing is, is the figure gonna go up?
• 13:54
  SPEAKER_00: Yeah, all that is doing is gonna drive businesses out.
• 13:58
  SPEAKER_00: We work obviously in Canary Wolf and Mayfair.
• 14:00
  SPEAKER_00: All we're seeing week in, week out, isn't it?
• 14:02
  SPEAKER_00: People leaving the country, businesses leaving the country, setting up in Cyprus, setting up in Dubai, setting up in anywhere that encourages money to go in.
• 14:11
  SPEAKER_00: We are one of the worst Western countries to do so.
• 14:14
  SPEAKER_01: Correct.
• 14:15
  SPEAKER_01: Another avenue they haven't ruled out as well is coming for pensioners attacking pensions.
• 14:20
  SPEAKER_01: So, what should someone who's uh you know maybe thinking about drawing down on their pension pretty soon, what should they be looking out for?
• 14:28
  SPEAKER_00: Yeah, ongoing debate, isn't it?
• 14:29
  SPEAKER_00: I I actually really feel sorry for the guys who speak to us and uh are asking about their pension because people feel trapped, they don't feel like it's it was something they got told to do, so they did it.
• 14:39
  SPEAKER_00: I don't know anyone under the age of 35 now who's going, Yeah, do you know what op me in for that company pension?
• 14:44
  SPEAKER_00: Yeah, they're making investments themselves, they're using that extra money and investing.
• 14:48
  SPEAKER_00: What we are saying to people with pensions, and it's it is slightly made the best of a bad scenario.
• 14:54
  SPEAKER_00: The pension is there to protect you later on in life.
• 14:57
  SPEAKER_00: It's when you retire, you've got the money, obviously.
• 15:00
  SPEAKER_00: So make that money work, don't just put it in a pension account and go, yeah, hopefully it'll do something.
• 15:06
  SPEAKER_00: I mean, you're literally throwing it a wall and hoping something sticks.
• 15:09
  SPEAKER_00: Exactly that.
• 15:10
  SPEAKER_00: People don't know how much their pensions are worth, they don't know where it's invested, they don't know how it's invested, and it it's amazing.
• 15:18
  SPEAKER_00: Oh, we just do it.
• 15:19
  SPEAKER_00: Why?
• 15:20
  SPEAKER_00: People need to ask the question why more, what, where?
• 15:23
  SPEAKER_00: Because it is one of the worst things people are gonna do is just leave their pension sitting there doing nothing.
• 15:29
  SPEAKER_00: If it is gonna get taxed more, if it is gonna be an older age that you can draw down on it, if there are gonna be sanctions on it, so to speak, well at least make it earn some money so by the time you can get to it, it appreciated and alright, it was worth it in the end.
• 15:45
  SPEAKER_00: No one's calling up to say, Do you know what?
• 15:47
  SPEAKER_00: Actually, can we uh speak to one of the FCA regulated pension companies you work with?
• 15:50
  SPEAKER_00: We're looking to set up a brand new pension.
• 15:52
  SPEAKER_00: No, if they've got money free, they're saying, Can we buy physical gold as a form of a pension?
• 15:59
  SPEAKER_00: That's it, or it's I've got a pension, I made£45 last year on a£50£50,000 pension.
• 16:05
  SPEAKER_00: Yeah, what can I do to make this better?
• 16:08
  SPEAKER_00: But that's it.
• 16:09
  SPEAKER_01: Yeah, and speaking of gold in a pension, we've seen a little bit of movement in the gold market for people who are obviously listening for that reason.
• 16:17
  SPEAKER_01: Just give a little bit of information about the gold market at the moment.
• 16:20
  SPEAKER_00: Yeah, yeah.
• 16:21
  SPEAKER_00: I mean, really, really nice to see.
• 16:22
  SPEAKER_00: I mean, we've been saying this rally is going to be coming, and and more importantly, the institutions have been been forecasting it.
• 16:28
  SPEAKER_00: About seven percent up last week, so it was nice to see the recovery.
• 16:31
  SPEAKER_00: I I think it's um I don't want to put any cast iron guarantees, of course, but I I think this is the nice start of the the bullish market again.
• 16:40
  SPEAKER_00: The the heat in the Middle East has died down, it's it's not going outside the Middle East.
• 16:44
  SPEAKER_00: This is now becoming trade wars again and and and so on.
• 16:48
  SPEAKER_00: We've been expecting it, we've spoken about it for months, so I'm I'm not gonna go over those points again, but uh it looks like it's coming.
• 16:53
  SPEAKER_01: Yeah.
• 16:54
  SPEAKER_01: So what would you say to people who are just looking at gold at the moment?
• 16:57
  SPEAKER_00: I I think it's um the takeaway from this episode, particularly we've always talked about don't panic, don't try to predict the next crash, but also do not assume that because your savings are sitting in a British bank or your pension is with a British provider, you're insulated from what happens in Tokyo, Washington, or anywhere in the world for that matter.
• 17:16
  SPEAKER_00: And if you are considering gold, the sensible question isn't will gold save me?
• 17:21
  SPEAKER_00: It's does owning some asset that behaves differently from my shares, bonds, property, and sterling make sense for my overall situation.
• 17:31
  SPEAKER_00: As always, diversity.
• 17:33
  SPEAKER_00: That's the bottom line.
• 17:34
  SPEAKER_01: Always important.
• 17:36
  SPEAKER_01: The Yan Kerry trade might sound like a distant piece of financial jargon, but what we've discussed today shows these things matter, and they matter far beyond Japan.
• 17:45
  SPEAKER_01: When currencies come under pressure, interest rates rise, governments are forced to refinance enormous amounts of debt, and the consequences don't stay neatly within the country's boundaries.
• 17:56
  SPEAKER_01: The global finance system is interconnected, and when one of its major components starts to come under pressure and serious strain, the effects spread much further than most people expect.
• 18:06
  SPEAKER_01: Obviously, none of us know exactly where this situation leads, or what event might trigger the next major disruption.
• 18:12
  SPEAKER_01: But that's exactly why understanding this matters.
• 18:15
  SPEAKER_01: Physical gold doesn't depend on the yen, it doesn't depend on the dollar, it doesn't depend on a central bank or someone else's promise to repay you.
• 18:24
  SPEAKER_01: It's for people concerned about the resilience of the financial system.
• 18:28
  SPEAKER_01: And that's a very different proposition from simply holding another financial claim.
• 18:32
  SPEAKER_01: As always, if you'd like to learn more about owning physical gold and protecting your wealth as best as you can, please do head over to guide.directbullion.com where you can download our free guide to tax-free gold that's packed with information you absolutely won't get anywhere else.
• 18:49
  SPEAKER_01: Gentle reminder, please do remember to like and subscribe if you're watching on YouTube, and please do follow us on Spotify or Apple Podcasts.
• 18:57
  SPEAKER_01: Don't forget, rate the show five stars on Spotify, Apple Podcasts, or wherever you get your podcasts, and you'll be entered into a competition to win two ounces of silver.
• 19:06
  SPEAKER_01: I've put the details of the competition in the description below, but once you've rated the show five stars, take a screenshot, send it to podcast at directbullion.com, or send it to us on direct message on either Instagram or Facebook.
• 19:19
  SPEAKER_01: If you have a question, as always, please do leave it in the comments below and we'll answer it in the next episode.
• 19:25
  SPEAKER_01: Thanks so much for listening to the Bullying Advantage today.
• 19:28
  SPEAKER_01: Stay informed, stay prepared, and as always, stay golden.
• 19:31
  SPEAKER_01: The purchase of gold does not constitute an investment or offer financial returns.
• 19:36
  SPEAKER_01: Gold is considered a store of value and not an investment product.
• 19:40
  SPEAKER_01: Past performance of gold is not indicative of future performance.
• 19:44
  SPEAKER_01: Prices and values of precious metals can fluctuate and are influenced by various market factors.
• 19:49
  SPEAKER_01: Direct Bullion does not provide investment or tax advice and recommends that you conduct your own independent research before making any purchasing decisions.