Latest / The Crest Report / Trust, But Verify: Central Banks, the Fed & the $40 Trillion Debt.

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Trust, But Verify: Central Banks, the Fed & the $40 Trillion Debt. · The Crest Report

0:07
SPEAKER_00: From Golden Crest Metals, Ritz is the Crest Report, where markets meet reality.
0:13
SPEAKER_00: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
0:19
SPEAKER_00: Questions for Ritz?
0:20
SPEAKER_00: Call 888-991-6222.
0:24
SPEAKER_00: And now, here's your host, Rich Jacoby.
0:28
SPEAKER_01: The most sophisticated money managers on the planet, the world's central banks, are buying gold at more than four times their old pace.
0:36
SPEAKER_01: And some of them are pulling their gold out of the United States and bringing it home.
0:41
SPEAKER_01: Meanwhile, here at home, the national debt went up$65 billion in a single day.
0:48
SPEAKER_01: Your Social Security raise for next year?
0:51
SPEAKER_01: It's already behind the price of groceries and gas.
0:54
SPEAKER_01: And one of the most famous hedge fund managers alive says 2027 is going to be really, really challenging for the stock market.
1:03
SPEAKER_01: So this week we're going to do what I used to do for a living.
1:06
SPEAKER_01: Ignore what people say, watch what they do.
1:09
SPEAKER_01: Trust but verify.
1:11
SPEAKER_01: Stick with me.
1:12
SPEAKER_01: Hey everybody, welcome to the Crest Report.
1:14
SPEAKER_01: I'm Rich Jacoby.
1:15
SPEAKER_01: I started Golden Crest Medals.
1:17
SPEAKER_01: And for anybody new, I'm not a radio guy.
1:20
SPEAKER_01: And I'm not a Wall Street guy either.
1:22
SPEAKER_01: Before any of this, I was an LAPD officer.
1:25
SPEAKER_01: I went into the LAPD for one reason.
1:27
SPEAKER_01: I wanted to help people.
1:29
SPEAKER_01: After that, I worked in commercial real estate, got my master's degree, and eventually started Golden Crest.
1:35
SPEAKER_01: Here's what the badge taught me that applies to your money.
1:39
SPEAKER_01: People will tell you anything.
1:41
SPEAKER_01: So you watch what they do.
1:43
SPEAKER_01: That's exactly how we're going to look at the economy this week.
1:46
SPEAKER_01: But first, grab a pen.
1:48
SPEAKER_01: Because with everything I'm about to tell you, the Fed, the debt, the big banks, you're going to want this number.
1:54
SPEAKER_01: 888-991-6222.
2:00
SPEAKER_01: One more time.
2:01
SPEAKER_01: 888-991-6222.
2:06
SPEAKER_01: My team is there right now and a real person picks up.
2:10
SPEAKER_01: Or go to myfregoldinfo.com.
2:14
SPEAKER_01: When you call, tell them Rich sent you.
2:16
SPEAKER_01: You'll get a free investor kit and on qualifying purchases up to$25,000 in free silver.
2:23
SPEAKER_01: Call for details.
2:24
SPEAKER_01: And if you want me, ask for me.
2:27
SPEAKER_01: While I'm here in the studio, I can't pick up the phone live.
2:30
SPEAKER_01: But somebody on my team will answer, they'll take your info.
2:33
SPEAKER_01: And if you want me to call you back, I'll call you back.
2:36
SPEAKER_01: Most of the time you won't need me, because my team is that good.
2:39
SPEAKER_01: But the door's open.
2:41
SPEAKER_01: All right, here's where we're headed.
2:43
SPEAKER_01: First half of the show, we follow the money.
2:45
SPEAKER_01: What the Federal Reserve just did, why your Social Security raise is already behind, what the world's central banks are quietly doing with gold, and where they're moving it.
2:56
SPEAKER_01: The Sound Money Economist who's now advising the Treasury Secretary, why some of the biggest names on Wall Street are warning about the stock market and what's going on with silver.
3:07
SPEAKER_01: Then after the break, the midterms are just days away, so we'll talk about the debt nobody in Washington wants to talk about.
3:14
SPEAKER_01: Plus a big bank that keeps getting caught, AI programs poking around inside people's bank accounts, and a scam that's aimed right at gold owners.
3:23
SPEAKER_01: Let's go.
3:25
SPEAKER_01: Let's start with the Federal Reserve, because they just made their move.
3:29
SPEAKER_01: On October 28th, the Fed held its key interest rate steady in a range of three and three quarters to four percent.
3:37
SPEAKER_01: That's after it raised rates back in September.
3:40
SPEAKER_01: But here's the part most folks will miss.
3:43
SPEAKER_01: The vote wasn't unanimous.
3:45
SPEAKER_01: It was 10 to 2.
3:47
SPEAKER_01: And the two who voted no, Fed Governor Lisa Cook and Cleveland Fed President Beth Hammock didn't want to hold.
3:54
SPEAKER_01: They wanted to raise rates again, right now.
3:58
SPEAKER_01: Then Fed Chairman Kevin Walsh got up in front of reporters and he didn't sugarcoat it.
4:04
SPEAKER_01: He said inflation is too high.
4:06
SPEAKER_01: He said energy prices have moved higher again in recent weeks, and he said the Fed's job is to make sure inflation doesn't spread into everything else.
4:16
SPEAKER_01: The Fed's own statement put it in one short sentence.
4:20
SPEAKER_01: The committee will deliver price stability.
4:22
SPEAKER_01: That's Fed speak for we're ready to raise again if we have to.
4:27
SPEAKER_01: And Wall Street heard it.
4:28
SPEAKER_01: Right after the decision, traders were betting there's about an 85% chance of another rate hike in December, according to the CME's FedWatch tool.
4:38
SPEAKER_01: Now, why is inflation still hot?
4:40
SPEAKER_01: Look at oil.
4:42
SPEAKER_01: U.S.
4:42
SPEAKER_01: crude topped$103 a barrel the day of the Fed decision after an attack on a refinery in Saudi Arabia.
4:50
SPEAKER_01: Groceries, insurance, your electric bill, you know what's happening.
4:55
SPEAKER_01: You don't need a Fed chairman to tell you.
4:57
SPEAKER_01: So what does that mean for you?
4:59
SPEAKER_01: If you're saving, higher rates sound nice.
5:02
SPEAKER_01: But if prices are rising faster than your savings account pays, you're still falling behind, just slowly and politely.
5:09
SPEAKER_01: And higher rates cut both ways.
5:12
SPEAKER_01: If you've got a mortgage, a credit card balance, or a car loan, you're paying more.
5:17
SPEAKER_01: And so is the government.
5:18
SPEAKER_01: Back in early October, the 10-year Treasury yield hit its highest level in years.
5:24
SPEAKER_01: When the government's borrowing costs go up on a$40 trillion debt, that's a problem for all of us.
5:31
SPEAKER_01: We'll come back to that after the break.
5:33
SPEAKER_01: So here's what I want you to hear.
5:35
SPEAKER_01: The Fed itself just told you inflation is too high.
5:41
SPEAKER_01: And it's signaling it may raise rates again in December.
5:45
SPEAKER_01: If your savings are earning less than inflation after taxes, every month you wait, you're paying for it.
5:53
SPEAKER_01: Don't wait for the next Fed meeting to find out where you stand.
5:57
SPEAKER_01: Call my team now, 888-991-6222.
6:02
SPEAKER_01: Ask how a gold or silver IRA works and how you'd move a piece of your savings into it.
6:09
SPEAKER_01: They're there right now.
6:10
SPEAKER_01: Tell them Rich sent you.
6:12
SPEAKER_01: Now the Fed talks about inflation in percentages.
6:16
SPEAKER_01: Let me tell you what it looks like at your kitchen table.
6:19
SPEAKER_01: Social Security just announced its cost of living raise for 2027, 3.6%.
6:26
SPEAKER_01: On average, that's about$75 more a month starting in January for nearly 72 million people.
6:33
SPEAKER_01: Sounds good, right?
6:35
SPEAKER_01: Here's the catch.
6:36
SPEAKER_01: That same week, the government reported that consumer prices were up 3.7% over the past year.
6:42
SPEAKER_01: So the raise is already a hair behind the bills before it even shows up.
6:47
SPEAKER_01: And look under the hood, gasoline is up about 34% from a year ago.
6:52
SPEAKER_01: Fuel oil, the stuff a lot of folks heat their homes with, is up about 74%.
6:58
SPEAKER_01: 74.
6:59
SPEAKER_01: If you live up north and you heat with oil, you're gonna feel that one this winter.
7:03
SPEAKER_01: And then there's Medicare.
7:05
SPEAKER_01: Medicare's own trustees project the standard Part B premium will go up about$6.60 to around$209.50 a month in 2027.
7:17
SPEAKER_01: The final number comes out later this fall.
7:20
SPEAKER_01: But for a lot of people, that premium comes straight out of the Social Security check.
7:25
SPEAKER_01: So part of your raise is spoken for before it ever hits your account.
7:29
SPEAKER_01: Now I'm not complaining about the raise.
7:31
SPEAKER_01: I'm glad it's there.
7:32
SPEAKER_01: But here's the point a cost of living raise is designed to help you keep up.
7:38
SPEAKER_01: It's not designed to get you ahead.
7:41
SPEAKER_01: And if most of your savings is sitting in an account that pays less than inflation after taxes, you're moving backwards.
7:48
SPEAKER_01: That's why so many retirees ask about putting a piece of their savings into something that's held its value over the long haul.
7:56
SPEAKER_01: Not all of it, a piece.
7:58
SPEAKER_01: Your raise starts in January.
8:00
SPEAKER_01: Medicare's new premium gets announced later this fall.
8:03
SPEAKER_01: So don't wait until the first check shows up to find out you're behind.
8:07
SPEAKER_01: If you're on Social Security or you're about to be, call my team now and ask how a gold or silver IRA works.
8:14
SPEAKER_01: 888-991-6222.
8:18
SPEAKER_01: Tell them Rich sent you.
8:20
SPEAKER_01: And a lot of the folks who call us are right where you are.
8:24
SPEAKER_01: One of our clients, Yousef, left us a review after his retirement rollover earlier this year.
8:29
SPEAKER_01: He wrote that it was simple and stress-free, and that it happened, in his words, without any pressure.
8:35
SPEAKER_01: He said the honesty and patience really stood out.
8:39
SPEAKER_01: That's exactly how it should feel.
8:41
SPEAKER_01: Simple, no pressure, at your pace.
8:44
SPEAKER_01: Now here's the story I really want you to hear, because it's about what the big players are doing, not what they're saying.
8:51
SPEAKER_01: On October 22nd, Fortune reported on a note from Goldman Sachs.
8:55
SPEAKER_01: Goldman estimates that central banks around the world bought 79 tons of gold in August.
9:01
SPEAKER_01: Before 2022, the average was 17 tons a month.
9:06
SPEAKER_01: 17.
9:07
SPEAKER_01: So they're buying more than four times their old pace.
9:11
SPEAKER_01: And over the last three months, Goldman says purchases have been running at about 85 tons a month.
9:17
SPEAKER_01: And who's the biggest buyer they can identify?
9:20
SPEAKER_01: China.
9:21
SPEAKER_01: About 25 tons in August, according to Goldman.
9:24
SPEAKER_01: Then China's own central bank said it added another 23 tons in September.
9:30
SPEAKER_01: That's its biggest monthly purchase in about three years, according to the World Gold Council.
9:35
SPEAKER_01: And it's been buying for 23 months straight.
9:38
SPEAKER_01: And it's not just the government.
9:40
SPEAKER_01: CNBC reported that China imported more than a thousand tons of gold in just the first eight months of this year.
9:48
SPEAKER_01: A record.
9:51
SPEAKER_01: And here's the part that caught my eye.
9:54
SPEAKER_01: Fortune also reported that central banks are rethinking where they keep their gold.
9:59
SPEAKER_01: For decades, a lot of countries stored their gold right here in the US at the New York Fed.
10:05
SPEAKER_01: Now some are moving it closer to home.
10:07
SPEAKER_01: Fortune pointed out that Europe sent a lot of its gold to America for safe keeping back around World War II.
10:14
SPEAKER_01: Now, in a new era of uncertainty, central banks are reshuffling where they keep their reserves.
10:21
SPEAKER_01: Think about that.
10:22
SPEAKER_01: These are the most sophisticated money managers on the planet.
10:26
SPEAKER_01: They're buying more gold and they want it where they can get to it.
10:29
SPEAKER_01: Now, while China is buying gold, look at what's happening to its banks.
10:34
SPEAKER_01: CNBC reported, citing Fitch ratings, that China closed a record 670 banks in 2025, about a quarter of all the banks in the country, mostly small rural lenders that Fitch calls the weakest part of their system.
10:50
SPEAKER_01: Merged, folded, shut down.
10:53
SPEAKER_01: So on one hand, they're cleaning up shaky banks.
10:56
SPEAKER_01: On the other hand, they're stacking gold as fast as they can.
11:00
SPEAKER_01: Watch what people do, not what they say.
11:02
SPEAKER_01: So here's my question for you.
11:05
SPEAKER_01: If the world's central banks think gold belongs in their reserves, does a piece of it belong in yours?
11:12
SPEAKER_01: And notice, they're not waiting for the perfect price.
11:16
SPEAKER_01: 79 tons in a single month.
11:19
SPEAKER_01: You don't have to go all in.
11:21
SPEAKER_01: Nobody should.
11:22
SPEAKER_01: But if the answer's been zero, don't wait for the next headline.
11:26
SPEAKER_01: Call my team now and ask what a sensible piece looks like for you.
11:30
SPEAKER_01: 888-991-6222.
11:34
SPEAKER_01: Tell them Rich sent you.
11:36
SPEAKER_01: Now let's talk about Washington.
11:38
SPEAKER_01: Earlier this month, Treasury Secretary Scott Bessent brought on economist Judy Shelton as a counselor.
11:45
SPEAKER_01: Her job, according to Treasury, is advising him on currency policy with a focus on China's financial conditions.
11:53
SPEAKER_01: Why does that matter?
11:54
SPEAKER_01: Because Judy Shelton has spent years arguing for sound money.
11:58
SPEAKER_01: Back in 2012, she proposed something called Treasury Trust Bonds.
12:03
SPEAKER_01: Government bonds that when they come due, you could choose to cash in for dollars or for a set amount of gold.
12:09
SPEAKER_01: And she's called her approach trust but verify.
12:13
SPEAKER_01: I like that.
12:14
SPEAKER_01: As a cop, that was basically my job description.
12:17
SPEAKER_01: And here's a fact most people don't know.
12:19
SPEAKER_01: The US government still carries its gold on the books at about$42 an ounce.
12:26
SPEAKER_01: That's a price set by law decades ago.
12:29
SPEAKER_01: Gold's trading around$4,000.
12:32
SPEAKER_01: So you can see why people in Washington are starting to ask what that gold is really worth and what it could be used for.
12:39
SPEAKER_01: Now let me be careful here because you deserve the straight story.
12:43
SPEAKER_01: Her role is advisory.
12:45
SPEAKER_01: Treasury's announcement didn't say anything about gold bonds, and nobody has announced a return to the gold standard.
12:52
SPEAKER_01: Anybody telling you it's a done deal is getting ahead of the facts.
12:57
SPEAKER_01: But the person who designed a gold backed treasury bond is now in the room with the Treasury Secretary.
13:04
SPEAKER_01: And that's on top of an executive order the president signed back in March of 2025, putting gold on a list of minerals the government wants produced here at home for national security.
13:16
SPEAKER_01: Put it together, and Washington is clearly treating gold like it matters.
13:20
SPEAKER_01: And when the people who print the money start talking about gold, I pay attention.
13:25
SPEAKER_01: You should too.
13:26
SPEAKER_01: If you want to know what all this could mean for your retirement account, call my team.
13:31
SPEAKER_01: 888-991-6222.
13:36
SPEAKER_01: You know, one of our clients, Drew, left us a review that made my day.
13:41
SPEAKER_01: He said the person he worked with was knowledgeable and honest.
13:46
SPEAKER_01: And then at the end, he wrote, Love the Crest report too.
13:50
SPEAKER_01: Drew, thank you, brother.
13:51
SPEAKER_01: And to everybody listening, that's why we do this show, to give you the straight story.
13:57
SPEAKER_01: So when you do call, you already know the right questions to ask.
14:01
SPEAKER_01: All right, the stock market.
14:03
SPEAKER_01: If your 401k felt a little seasick lately, you're not imagining it.
14:08
SPEAKER_01: Meta, that's Facebook's parent company, saw its stock drop nearly 7% in one day after it told investors it plans to spend between$135 and$145 billion this year, much of it on artificial intelligence.
14:23
SPEAKER_01: And it reported negative free cash flow for the quarter.
14:26
SPEAKER_01: In plain English, more money went out the door than came in.
14:30
SPEAKER_01: That same day, the NASDAQ fell 2.6%, its worst day since June.
14:36
SPEAKER_01: The markets bounced back some since then, but folks are getting nervous about how much money is being poured into AI and whether it's ever going to pay off.
14:45
SPEAKER_01: And look at China.
14:46
SPEAKER_01: Its index of AI and chip stocks dropped about 40% in less than four months.
14:53
SPEAKER_01: Reuters reported about$480 billion in market value wiped out.
14:58
SPEAKER_01: 40%.
14:59
SPEAKER_01: And The Guardian, citing Bloomberg, reported that Chinese stocks have lost about$2.4 trillion in value since May.
15:08
SPEAKER_01: Now, remember what we just talked about.
15:10
SPEAKER_01: China's central bank is buying gold for 23 months straight, and Chinese families are buying a record amount of gold.
15:18
SPEAKER_01: And now their stock market's getting hammered.
15:20
SPEAKER_01: Maybe those families knew something.
15:22
SPEAKER_01: And legendary hedge fund manager Paul Tudor Jones told CNBC, and I'm quoting him here, 2027 is going to be really, really challenging for the stock market.
15:33
SPEAKER_01: He compared this moment to 1999.
15:36
SPEAKER_01: That's about a year before the dot-com bubble burst.
15:40
SPEAKER_01: Now, I'm not against the stock market.
15:42
SPEAKER_01: Some of you know I've day traded.
15:43
SPEAKER_01: I'll tell you this, it's not fun.
15:46
SPEAKER_01: And it's not something I'd want my retirement riding on.
15:49
SPEAKER_01: I'm not telling you to sell anything, but think about this.
15:52
SPEAKER_01: Paul Tudor Jones is talking about 2027.
15:56
SPEAKER_01: That's about two months away.
15:58
SPEAKER_01: If most of what you've saved rides on the same handful of stocks everybody else owns, don't wait until January to find out how you're positioned.
16:06
SPEAKER_01: Pull up your latest 401k or IRA statement and call my team now.
16:11
SPEAKER_01: 888-991-6222.
16:15
SPEAKER_01: Ask how you'd add something real to the mix, like physical gold and silver.
16:20
SPEAKER_01: Tell them Rich sent you.
16:21
SPEAKER_01: Now let's talk about gold's little brother, silver.
16:25
SPEAKER_01: Because silver has had a wild ride.
16:29
SPEAKER_01: Silver's trading around$54 an ounce.
16:32
SPEAKER_01: Within the last year, it was over$117.
16:35
SPEAKER_01: So it's down more than half from that high.
16:39
SPEAKER_01: And that's the first thing I want you to understand about silver.
16:42
SPEAKER_01: It moves a lot in both directions.
16:45
SPEAKER_01: Gold is the steady one.
16:47
SPEAKER_01: Silver is the one that keeps you up at night.
16:49
SPEAKER_01: So why do people still want it?
16:51
SPEAKER_01: Because silver isn't just money, it's a metal the modern world runs on.
16:56
SPEAKER_01: It's in electronics, cars, power grids, solar panels, and the data centers behind all this AI we keep hearing about.
17:04
SPEAKER_01: According to the World Silver Survey from the Silver Institute and Metals Focus, the silver market is headed for its sixth straight year of deficit.
17:12
SPEAKER_01: That means the world is using more silver than it's producing and recycling.
17:17
SPEAKER_01: Six years in a row.
17:18
SPEAKER_01: They put this year's shortfall at about 46 million ounces.
17:22
SPEAKER_01: Now, to be fair, there's another side.
17:24
SPEAKER_01: Solar panel makers are using less silver per panel to cut costs.
17:29
SPEAKER_01: And the survey expects that to pull total industrial demand down this year.
17:33
SPEAKER_01: And HSBC says silver is now trading close to what they consider fair value.
17:38
SPEAKER_01: They're only mildly positive from here, though they do expect big buyers in China and India to keep scooping up large bars.
17:45
SPEAKER_01: So nobody's promising a straight line.
17:48
SPEAKER_01: Here's how I think about it gold is your foundation.
17:51
SPEAKER_01: Silver can be a piece on top of that if you can stomach the swings.
17:56
SPEAKER_01: And right now, silver is selling for less than half of what it costs at its high.
18:00
SPEAKER_01: I'm not going to tell you where it goes next, but some folks like silver because they can buy more ounces for the money.
18:07
SPEAKER_01: Just go in with your eyes open, and if you want to talk through gold versus silver, call my team.
18:20
SPEAKER_01: Rich, gold already ran up.
18:22
SPEAKER_01: Did I miss it?
18:23
SPEAKER_01: Or the flip side.
18:25
SPEAKER_01: Gold's down from its high.
18:27
SPEAKER_01: Should I wait for it to drop more?
18:29
SPEAKER_01: I'll give you the honest answer.
18:30
SPEAKER_01: I don't know where gold's going next month.
18:33
SPEAKER_01: Nobody does.
18:34
SPEAKER_01: Anyone who tells you they know exactly when to buy is guessing or selling you something.
18:39
SPEAKER_01: I've day traded, I tried to time things, and like I said a minute ago, it's not fun.
18:45
SPEAKER_01: So here's how I'd think about it if you were my own mom or dad.
18:49
SPEAKER_01: Don't try to time it.
18:51
SPEAKER_01: Ask what job you want gold to do.
18:53
SPEAKER_01: If the job is protection, a piece of your savings that isn't tied to a bank, a stock, or a promise, then the question isn't is this the perfect day?
19:02
SPEAKER_01: The question is how much of my retirement is protected right now?
19:06
SPEAKER_01: And for a lot of people, the answer is none.
19:09
SPEAKER_01: And you don't have to do it all at once.
19:11
SPEAKER_01: Some folks start with a piece and add over time.
19:15
SPEAKER_01: You decide what makes you comfortable, talk it over with your family, run it by your tax professional, and when you're ready, call my team and ask how it works.
19:24
SPEAKER_01: 888-991-6222.
19:28
SPEAKER_01: And that brings me to a question I get a lot.
19:31
SPEAKER_01: Rich, how do I know if a gold company is legit, including yours?
19:35
SPEAKER_01: Great question.
19:36
SPEAKER_01: And I want you to ask it.
19:38
SPEAKER_01: So here's my checklist.
19:40
SPEAKER_01: Five questions to ask any gold company before you hand over a dime.
19:44
SPEAKER_01: Number one, ask for the price in writing before you buy.
19:49
SPEAKER_01: What you're paying and what the spot price of gold is that day.
19:53
SPEAKER_01: A real company will tell you.
19:55
SPEAKER_01: If they dodge it, you've got your answer.
19:57
SPEAKER_01: Number two, ask who holds the medal.
20:00
SPEAKER_01: If it's in an IRA, there should be a named custodian and a named approved depository, and your account should be in your name.
20:08
SPEAKER_01: Write those names down and look them up yourself.
20:11
SPEAKER_01: Number three, ask what it costs to sell it back.
20:14
SPEAKER_01: Some companies make it easy to buy and expensive to sell.
20:17
SPEAKER_01: Find out before you buy, not after.
20:20
SPEAKER_01: Number four, look for pressure.
20:22
SPEAKER_01: This price is only good for the next hour.
20:24
SPEAKER_01: Don't talk to your kids about this.
20:26
SPEAKER_01: That's not a sales pitch, that's a red flag.
20:29
SPEAKER_01: Hang up.
20:30
SPEAKER_01: And number five, check them out.
20:32
SPEAKER_01: Read the reviews, the good ones and the bad ones.
20:36
SPEAKER_01: Look at their Better Business Bureau profile.
20:38
SPEAKER_01: Any honest company will be glad you did.
20:41
SPEAKER_01: And yes, that goes for us too.
20:43
SPEAKER_01: Ask my team every one of those questions.
20:46
SPEAKER_01: If anybody on my team ever pressures you, I want to hear about it.
20:51
SPEAKER_01: Ask for me.
20:52
SPEAKER_01: And one of our clients, Myra, said it better than I could.
20:55
SPEAKER_01: She left us a review, and this is what she wrote.
20:58
SPEAKER_01: She said the emphasis on education put her angst at ease, and that she had my hand held from A to Z, from A to Z.
21:07
SPEAKER_01: That's what I want for every one of you.
21:09
SPEAKER_01: Nobody rushing you, somebody walking you through it step by step until it makes sense.
21:15
SPEAKER_01: And another client of ours, Hayden, left us a short one.
21:19
SPEAKER_01: This is what he wrote.
21:21
SPEAKER_01: He was recommended by a friend, and it was professional and quick.
21:25
SPEAKER_01: Recommended by a friend.
21:27
SPEAKER_01: I love that, because that's how the good stuff spreads.
21:30
SPEAKER_01: If this show helped you, tell a friend.
21:33
SPEAKER_01: So before the break, here's what I want you to do.
21:35
SPEAKER_01: Think about everything we just covered.
21:38
SPEAKER_01: The Fed says inflation is too high.
21:41
SPEAKER_01: Your raise is already behind.
21:43
SPEAKER_01: And the world's central banks are buying gold at four times their old pace.
21:48
SPEAKER_01: So take an honest look at where your money's sitting savings, CDs, a money market, a 401k, an IRA, a TSP, and a Annuity, an old account from a job you left years ago.
22:03
SPEAKER_01: Then ask yourself one question.
22:05
SPEAKER_01: How much of this can I actually hold?
22:08
SPEAKER_01: If the answer is none, don't sit on it.
22:11
SPEAKER_01: Call my team now.
22:13
SPEAKER_01: 888-991-6222.
22:17
SPEAKER_01: Or text report to 638-257.
22:22
SPEAKER_01: Or go to myfreegoldinfo.com.
22:24
SPEAKER_01: They're there right now.
22:26
SPEAKER_01: Free investor kit and up to$25,000 in free silver on qualifying purchases.
22:32
SPEAKER_01: Call for details.
22:34
SPEAKER_01: And if you want me, ask for me.
22:36
SPEAKER_01: I'll call you back.
22:37
SPEAKER_01: Stay right there.
22:39
SPEAKER_01: After the break, the national debt grew$65 billion in one day, and the midterms won't fix it.
22:47
SPEAKER_01: Plus, the big bank that built a system to ignore suspicious activity and a scam that's using gold itself as the bait.
22:56
SPEAKER_01: I'll give you my old cop take on that one.
22:58
SPEAKER_01: Don't go anywhere.
23:07
SPEAKER_00: Brought to you by Golden Crest Metals.
23:09
SPEAKER_00: Questions for Rich?
23:10
SPEAKER_00: Call 888-991-6222.
23:14
SPEAKER_00: Or text report at 638 257.
23:17
SPEAKER_00: We'll be right back.
23:57
SPEAKER_01: Hey, welcome back.
23:58
SPEAKER_01: If you're just tuning in, here's what you missed.
24:01
SPEAKER_01: The world central banks bought an estimated 79 tons of gold in August.
24:06
SPEAKER_01: That's more than four times what they bought in a typical month before 2022.
24:11
SPEAKER_01: China's central bank has been buying for 23 months straight.
24:15
SPEAKER_01: Some countries are moving their gold out of the New York Fed and bringing it home.
24:20
SPEAKER_01: And the economist who designed a gold-backed treasury bond, Judy Shelton, is now advising the Treasury Secretary.
24:27
SPEAKER_01: Oh, and your Social Security raise for next year, 3.6%, is already running behind inflation.
24:34
SPEAKER_01: And the Fed held rates steady, but two of its members wanted to raise them right now.
24:39
SPEAKER_01: And the chairman said flat out that inflation is too high.
24:42
SPEAKER_01: The big money is buying gold, and they want it where they can reach it.
24:47
SPEAKER_01: Watch what they do, not what they say.
24:49
SPEAKER_01: Okay, let's talk about Washington, your bank, and your retirement.
24:54
SPEAKER_01: Now the midterm elections are just days away, and I'm not going to tell you who to vote for.
24:58
SPEAKER_01: I don't care who you vote for.
25:00
SPEAKER_01: That's your business.
25:01
SPEAKER_01: But here's something that doesn't change, no matter who wins.
25:05
SPEAKER_01: According to the Treasury's own numbers, the national debt hit about$40.5 trillion on October 26th.
25:13
SPEAKER_01: And on that one day, it went up$65 billion.
25:16
SPEAKER_01: In a single day, Red Congress, Blue Congress, split Congress, the bills keep coming, and somebody's going to pay for them, usually through higher prices, higher interest rates, or a dollar that buys a little less every year.
25:31
SPEAKER_01: And here's the number that should worry everybody, no matter how you vote.
25:34
SPEAKER_01: According to Treasury data reported by Axios, the federal government paid more than one trillion dollars just in interest on the debt in the fiscal year that ended in September.
25:46
SPEAKER_01: $1.05 trillion in interest.
25:50
SPEAKER_01: That's more than the country spent on defense.
25:52
SPEAKER_01: The only bigger bills were Social Security and Medicare.
25:56
SPEAKER_01: And the deficit for the year came in around$2 trillion, the biggest since 2021.
26:02
SPEAKER_01: Remember before the break, I said higher rates hit the government too?
26:06
SPEAKER_01: Here's how.
26:35
SPEAKER_01: It works until it doesn't.
26:37
SPEAKER_01: And that's why gold has been around for thousands of years through every election, every Congress, every president.
26:44
SPEAKER_01: It doesn't care who's in charge.
26:46
SPEAKER_01: One fund manager at Van Eck put it well.
26:48
SPEAKER_01: For gold, the policy path that comes after an election tends to matter more than which party wins.
26:55
SPEAKER_01: So whatever happens at the ballot box, the question for your family is the same.
27:00
SPEAKER_01: Is a piece of what you've built protected from whatever Washington does next?
27:04
SPEAKER_01: And one more thing on the election.
27:06
SPEAKER_01: Whatever happens, there are going to be people on TV telling you the sky is falling.
27:11
SPEAKER_01: Either side, don't make big money decisions in a panic.
27:16
SPEAKER_01: The best time to protect what you've built is when you're calm, you've done your homework, and nobody's rushing you.
27:22
SPEAKER_01: And that's right now, before the noise starts.
27:25
SPEAKER_01: Because the day after the election, the debt is still there.
27:28
SPEAKER_01: If you want a piece of what you've built protected, no matter who wins, call my team now.
27:33
SPEAKER_01: 888-991-6222.
27:38
SPEAKER_01: They're there right now.
27:39
SPEAKER_01: Tell them Rich sent you.
27:41
SPEAKER_01: Now last week we talked about Bank of America's penalty, more than$1.2 billion after the bank admitted it willfully broke the anti-money laundering law.
27:53
SPEAKER_01: Well, more details have come out since and they're worth your time.
27:57
SPEAKER_01: According to the government's order, as reported by American Banker, the bank built a computer system back in 2010 to decide which suspicious transactions a human being would actually look at.
28:09
SPEAKER_01: And they built it partly because, in the government's words, there weren't enough investigators to work all the alerts.
28:16
SPEAKER_01: Then, according to the order, the bank kept that system tuned in a way that spared its investigators and its budget.
28:23
SPEAKER_01: Internal tests showed the system was missing suspicious activity.
28:27
SPEAKER_01: But management, the government says, focused on the impact to the bank's resourcing instead of fixing the problem.
28:34
SPEAKER_01: And when the bank finally went back and looked, it found nearly 8,900 suspicious activity reports that should have been filed and weren't, covering nearly$4 billion in transactions.
28:48
SPEAKER_01: And the government even counted the hundreds of millions of dollars the bank likely saved by cutting those corners as a financial gain from breaking the law.
28:58
SPEAKER_01: Now the bank says the matter is resolved, the penalties paid, and its finance chief said it should not impact our clients in any way.
29:07
SPEAKER_01: Okay, I hear you.
29:08
SPEAKER_01: But think about what that order describes.
29:10
SPEAKER_01: Imagine a police department saying, we've got too many 911 calls, so let's just program the system to ignore some of them.
29:18
SPEAKER_01: That's not a staffing problem, that's a choice.
29:21
SPEAKER_01: And it's not the first time.
29:22
SPEAKER_01: Back in 2023, regulators ordered this same bank to pay more than$250 million over junk fees, withheld rewards, and accounts opened without customers' permission.
29:34
SPEAKER_01: Now this.
29:36
SPEAKER_01: Fine, pay.
29:37
SPEAKER_01: Promise to do better, repeat.
29:39
SPEAKER_01: Now I'm not telling you your bank is going under.
29:42
SPEAKER_01: FDIC insurance is real, up to the limits.
29:45
SPEAKER_01: You need a bank to pay your bills.
29:47
SPEAKER_01: But I am telling you this.
29:49
SPEAKER_01: The people watching the door at the biggest banks in the country don't always watch it like they promise to.
29:56
SPEAKER_01: So it makes sense to ask whether everything you've worked for should depend on one system.
30:01
SPEAKER_01: And that's why we run Goldencrest the way we do.
30:04
SPEAKER_01: Transparent.
30:04
SPEAKER_01: Show people the real price before they buy, stick to widely recognized coins and bars, no buyback fees, answer every question, including the uncomfortable ones.
30:15
SPEAKER_01: So if most of what you've worked for is sitting inside one big bank, call my team and ask how to put a piece of it in something you can actually hold.
30:23
SPEAKER_01: 888-991-6222.
30:28
SPEAKER_01: Alright, this next one sounds like science fiction, but it's real.
30:32
SPEAKER_01: On October 22nd, Axios reported that some of the biggest banks in the country are finding artificial intelligence programs, they call them AI agents, operating inside customers' bank accounts.
30:44
SPEAKER_01: Morgan Stanley, Bank of America, JP Morgan, Wells Fargo, City.
30:50
SPEAKER_01: And according to Axios, some of these AI agents were taking actions that seem to go beyond what the customer even asked for.
30:57
SPEAKER_01: Now, how are they getting in?
30:59
SPEAKER_01: Mostly people are handing these AI apps their own username and password.
31:04
SPEAKER_01: Here, go pay my bills.
31:05
SPEAKER_01: Here, go check my balance.
31:07
SPEAKER_01: And the program logs in as you.
31:10
SPEAKER_01: The bank can't always tell if it's you or the robot.
31:14
SPEAKER_01: One bank executive called the situation horrifying.
31:17
SPEAKER_01: Morgan Stanley has started blocking these outside AI agents.
31:21
SPEAKER_01: JP Morgan, Bank of America, and City are restricting them.
31:25
SPEAKER_01: And Florida's governor Ron DeSantis has been sounding the alarm too, saying the people behind these AI companies might need to face criminal liability if their programs go rogue and drain accounts.
31:37
SPEAKER_01: Here's my take, and it's simple.
31:39
SPEAKER_01: Your bank login is the key to your front door.
31:42
SPEAKER_01: You wouldn't hand your house key to a stranger, don't hand your bank password to a stranger, and don't hand it to a computer program either.
31:50
SPEAKER_01: Chase put it best, and I'm quoting their spokesperson: customers should not give their usernames and passwords to anyone.
31:57
SPEAKER_01: Anyone.
31:58
SPEAKER_01: And here's the bigger point.
32:00
SPEAKER_01: Every year, more of your money lives inside a computer system you don't control.
32:06
SPEAKER_01: A bank's computer, a brokerage's computer, now an AI program that might be logging in as you.
32:12
SPEAKER_01: Most days, that's fine.
32:14
SPEAKER_01: But it's worth asking, how much of everything you've worked for exists only as a number on somebody else's screen?
32:22
SPEAKER_01: Physical gold and silver are different.
32:24
SPEAKER_01: If you buy it with savings, you can take delivery and hold it in your hand.
32:29
SPEAKER_01: And if it's in an IRA, it's held at an approved insured depository in your name.
32:35
SPEAKER_01: No password in the world opens a gold coin.
32:38
SPEAKER_01: So what should you actually do?
32:40
SPEAKER_01: Three things.
32:40
SPEAKER_01: Number one, if an app or a website asks for your bank username and password so it can quote unquote help you, don't give it.
32:49
SPEAKER_01: Use your bank's own app, the one you download straight from your bank's website.
32:54
SPEAKER_01: Number two, turn on text alerts so you get a message every single time money leaves your account.
32:59
SPEAKER_01: Every time.
33:00
SPEAKER_01: If something moves at two in the morning, you'll know before breakfast.
33:04
SPEAKER_01: And number three, if you've already given your login to some app or program, change your password.
33:10
SPEAKER_01: Then call your bank and ask them to check what's been connected to your account.
33:14
SPEAKER_01: It's a five-minute call.
33:16
SPEAKER_01: Do it.
33:17
SPEAKER_01: So here's my question for you.
33:19
SPEAKER_01: How much of your money only exists as a number on somebody else's screen?
33:25
SPEAKER_01: If you've got money in a savings account, a CD, a money market, or in a 401k, an IRA, a 403B, a 457, a TSP, a Roth, or an annuity, call my team and ask one question.
33:39
SPEAKER_01: How much of what I own can I actually hold?
33:43
SPEAKER_01: 888-991-6222.
33:46
SPEAKER_01: Again, 888-991-6222.
33:51
SPEAKER_01: My team is there right now.
33:53
SPEAKER_01: Now, one more story, and I'm putting my old cop hat on for just a minute, because this one goes right after people who own gold.
34:00
SPEAKER_01: In Pennsylvania, the state police broke up a ring that stole about$6.5 million from victims all over the country.
34:08
SPEAKER_01: It starts with a pop-up on your computer.
34:10
SPEAKER_01: Then somebody calls, claiming to be a federal agent.
34:14
SPEAKER_01: They say your bank accounts are compromised, and they tell you to pull out your money, buy gold bars or coins, and hand the gold to a courier, quote, for safekeeping.
34:24
SPEAKER_01: Two people were arrested on Interstate 80 back in September, and up in Oregon, the sheriff's office near Portland says a 79-year-old man lost$40,000 to a fake Lieutenant White who said he'd missed jury duty.
34:40
SPEAKER_01: So here's the short version from a guy who used to wear the badge.
34:43
SPEAKER_01: A real officer will never call you and ask for money.
34:47
SPEAKER_01: Never tell you to buy gold or hand cash or gold to a courier.
34:52
SPEAKER_01: Never ask for gift cards, wires, crypto, or a Bitcoin machine.
34:58
SPEAKER_01: And never tell you to keep it from your family or your bank.
35:02
SPEAKER_01: Hang up, look up the number yourself, and call your local police and your bank.
35:07
SPEAKER_01: And here's the gold part.
35:09
SPEAKER_01: When you buy gold or silver from a real dealer, it either gets shipped to you, or if it's in an IRA, it goes to an approved depository in your name.
35:18
SPEAKER_01: A legitimate company doesn't send some guy to your driveway to collect it.
35:23
SPEAKER_01: Ever.
35:23
SPEAKER_01: If this happens to you or your parents, report it to your local police and to the FBI at ic3.gov.
35:32
SPEAKER_01: You know, one of our clients, Omar, left us a review, I think about a lot.
35:36
SPEAKER_01: This is what he wrote.
35:37
SPEAKER_01: He said, what stood out was the willingness to admit that he doesn't have all the answers, and that the person he worked with really listened to what my goals are.
35:47
SPEAKER_01: And that's the opposite of a scammer.
35:48
SPEAKER_01: A scammer has every answer and he's never in doubt.
35:52
SPEAKER_01: A real professional listens, tells you what he knows, and tells you what he doesn't.
35:58
SPEAKER_01: That's how we do it.
35:59
SPEAKER_01: So let's do a quick gold check.
36:01
SPEAKER_01: Right after the Fed decision, gold slipped about half a percent to around$4,035 an ounce.
36:08
SPEAKER_01: That's about a quarter below its record close of about$5,400 back in January.
36:14
SPEAKER_01: Silver's around$54 an ounce, and it's down about a quarter this year, too.
36:19
SPEAKER_01: So is that bad news?
36:21
SPEAKER_01: Look, prices go up and they go down.
36:23
SPEAKER_01: Anybody who tells you gold only goes up, walk away.
36:27
SPEAKER_01: But the reasons gold climbed in the first place haven't gone anywhere.
36:31
SPEAKER_01: Central banks buying at four times their old pace, a$40 trillion debt, inflation above target.
36:38
SPEAKER_01: Some of the big banks are predicting new highs.
36:40
SPEAKER_01: JP Morgan's talked about$6,300 by the end of 2027.
36:45
SPEAKER_01: Goldman Sachs has talked about$5,400.
36:48
SPEAKER_01: Will it get there?
36:49
SPEAKER_01: Who knows?
36:50
SPEAKER_01: Nobody knows.
36:51
SPEAKER_01: But the forces that pushed gold up are still in place.
36:54
SPEAKER_01: And let me be straight with you about what gold won't do.
36:57
SPEAKER_01: It doesn't pay a dividend, it doesn't pay interest, its job isn't to make you rich overnight.
37:04
SPEAKER_01: Its job is to be there when other things aren't.
37:07
SPEAKER_01: Think of it like a seatbelt.
37:09
SPEAKER_01: You don't buy it because you plan to crash.
37:12
SPEAKER_01: You buy it because you can't plan when you will.
37:14
SPEAKER_01: Now, why would gold dip on a Fed day?
37:17
SPEAKER_01: Simple.
37:18
SPEAKER_01: Gold doesn't pay interest.
37:19
SPEAKER_01: So when it looks like rates might go up, some traders sell gold and park their money somewhere that pays.
37:25
SPEAKER_01: That's the short-term trade, and it can move the price for a day or a week.
37:30
SPEAKER_01: But here's what matters more over the long haul.
37:33
SPEAKER_01: Is the interest you're earning actually beating inflation?
37:36
SPEAKER_01: Right now, the Fed's rate is just under 4%, and prices are up 3.7% over the past year.
37:43
SPEAKER_01: That's barely ahead.
37:45
SPEAKER_01: And that's before taxes.
37:46
SPEAKER_01: After taxes, a lot of savers are standing still or going backwards.
37:51
SPEAKER_01: That's the real story.
37:53
SPEAKER_01: And it's one the daily headlines usually skip.
37:55
SPEAKER_01: So have you been sitting on the sidelines waiting for gold to come down before you got started?
38:00
SPEAKER_01: Well, it's about a quarter below its record high.
38:03
SPEAKER_01: I'm not going to promise you where it goes from here.
38:06
SPEAKER_01: Nobody can.
38:06
SPEAKER_01: But the reasons it climbed are still in place, and the central banks sure aren't waiting.
38:11
SPEAKER_01: So don't let another few months go by.
38:13
SPEAKER_01: Call my team now, 888-991-6222.
38:18
SPEAKER_01: Tell them Rich sent you.
38:20
SPEAKER_01: And here's a question I get all the time.
38:23
SPEAKER_01: Rich, should I keep my gold at home?
38:26
SPEAKER_01: First, the IRA part, because this one matters.
38:29
SPEAKER_01: If your gold is in an IRA, the rules say it has to be held by an approved custodian at an approved depository, not in your closet.
38:38
SPEAKER_01: If anybody tells you you can keep IRA gold at home in a safe, be very careful.
38:43
SPEAKER_01: That can cause real tax problems.
38:46
SPEAKER_01: Ask your tax professional before you ever do something like that.
38:49
SPEAKER_01: Now, gold you buy with your own savings outside an IRA.
38:53
SPEAKER_01: That's yours.
38:54
SPEAKER_01: You can take delivery and keep it at home.
38:56
SPEAKER_01: And if you do, here's my cop advice.
38:59
SPEAKER_01: Number one, don't talk about it.
39:00
SPEAKER_01: Not at the barbershop, not at church, not on Facebook.
39:04
SPEAKER_01: The fewer people who know, the better.
39:06
SPEAKER_01: Number two, if you keep it at home, get a good safe and have it bolted down.
39:11
SPEAKER_01: A safe somebody can carry out the door isn't a safe, it's a box.
39:15
SPEAKER_01: Number three, don't keep it in the obvious places.
39:18
SPEAKER_01: The master bedroom closet, the sock drawer, the freezer.
39:22
SPEAKER_01: Any burglar has heard of the freezer.
39:24
SPEAKER_01: And number four, check your homeowner's insurance.
39:27
SPEAKER_01: A lot of policies only cover a small amount of coins and bullion unless you add more coverage.
39:33
SPEAKER_01: Call your agent and ask.
39:35
SPEAKER_01: And here's the part a lot of people forget.
39:37
SPEAKER_01: Write it down.
39:39
SPEAKER_01: Make sure somebody you trust knows what you own and where it is.
39:43
SPEAKER_01: Because the worst thing that can happen to gold isn't a burglar.
39:47
SPEAKER_01: It's being so well hidden that your kids never find it.
39:51
SPEAKER_01: So if you're thinking about gold in an IRA or at home, call my team and ask how each option works.
39:58
SPEAKER_01: 888-991-6222.
40:02
SPEAKER_01: Here's one more question my team gets every single week.
40:05
SPEAKER_01: Rich, I've got an old 401k from a job I left years ago.
40:10
SPEAKER_01: What do I do with it?
40:12
SPEAKER_01: First, you're not alone.
40:13
SPEAKER_01: A lot of people have an old account just sitting there from a job they left 5, 10, 20 years ago.
40:20
SPEAKER_01: Some folks have two or three of them and forgot about one.
40:23
SPEAKER_01: So step one is simple.
40:25
SPEAKER_01: Find your old statements and know what you have.
40:28
SPEAKER_01: Step two, if you ever decide to move it, whether it's into a regular IRA or a gold IRA, the way you move it matters.
40:37
SPEAKER_01: The cleanest way is usually a direct transfer where the money goes straight from your old plan to the new custodian.
40:44
SPEAKER_01: You never touch it.
40:46
SPEAKER_01: If the old plan cuts a check to you instead, there can be mandatory tax withholding, and you've generally got 60 days to get it into the new account, or it can count as a withdrawal.
40:58
SPEAKER_01: That can mean taxes and maybe a penalty if you're under 59.5.
41:02
SPEAKER_01: So don't wing it.
41:04
SPEAKER_01: Ask your tax professional before you move anything.
41:07
SPEAKER_01: And while you've got your statements out, do one more thing for your family.
41:11
SPEAKER_01: Check your beneficiaries.
41:13
SPEAKER_01: On a 401k or an IRA, including a gold IRA, the beneficiary form usually decides who gets the account, not your will.
41:21
SPEAKER_01: So if you got divorced, remarried, lost a spouse, or had grandkids since you filled that form out, take a look.
41:28
SPEAKER_01: It takes 10 minutes and it can save your family a world of headaches.
41:32
SPEAKER_01: My team helps people with this kind of paperwork all the time.
41:35
SPEAKER_01: And there's no charge to ask how it works.
41:39
SPEAKER_01: And this one means a lot to me.
41:41
SPEAKER_01: One of our clients left us a review and signed it CS.
41:46
SPEAKER_01: And CS first heard me right here on the Crest Report.
41:51
SPEAKER_01: CS had a TSP and wrote that trying to move it was confusing and frustrating before talking to our team.
42:00
SPEAKER_01: And then, in CS's words, they walked me through everything step by step.
42:07
SPEAKER_01: That's what we're here for.
42:08
SPEAKER_01: So if you've got an old account just sitting there, don't let it sit another year.
42:13
SPEAKER_01: Call my team now.
42:15
SPEAKER_01: 888-991-6222.
42:20
SPEAKER_01: And one more, a client named Dawn left us a review, and this is what she wrote.
42:25
SPEAKER_01: She said the team was so informative.
42:27
SPEAKER_01: And then she said, I love the fact that they have a very involved owner.
42:31
SPEAKER_01: Dawn, I appreciate that.
42:33
SPEAKER_01: I'm involved because it's my name on the door, and it's my promise to you.
42:38
SPEAKER_01: Straight answers, no pressure, and if you want me, ask for me.
42:43
SPEAKER_01: Now, some of you have never called a gold company before, and you're wondering what actually happens.
42:49
SPEAKER_01: So let me tell you straight.
42:51
SPEAKER_01: You call 888-991-6222.
42:56
SPEAKER_01: A real person on my team answers.
42:58
SPEAKER_01: They'll ask what you're trying to do and what kind of accounts you have: savings, CDs, a 401k, an IRA, a TSP, an annuity, an old account from a job you left.
43:11
SPEAKER_01: It helps to have your latest statement handy so you know where you stand.
43:15
SPEAKER_01: Then they'll explain how it works in plain English, what gold and silver cost, what the fees are, how it's held, and in whose name, and how you'd sell it back if you ever wanted to.
43:27
SPEAKER_01: And then you decide, not us.
43:30
SPEAKER_01: You can hang up, think about it, talk to your spouse, talk to your kids, call us back next week.
43:36
SPEAKER_01: Or never.
43:37
SPEAKER_01: Nobody's gonna pressure you.
43:39
SPEAKER_01: And if anybody ever does, ask for me.
43:42
SPEAKER_01: That's my promise.
43:43
SPEAKER_01: And before I let you go, I want to tell you about my grandfather.
43:47
SPEAKER_01: He served in World War II.
43:49
SPEAKER_01: Sharp guy his whole life.
43:51
SPEAKER_01: But in his later years, his health went downhill and he got wrapped up in one of those sweepstakes deals.
43:57
SPEAKER_01: They kept telling him he'd won.
43:59
SPEAKER_01: Just send a little more money, then a little more.
44:02
SPEAKER_01: And one day, a truck was gonna show up at his door with a big check.
44:06
SPEAKER_01: Nobody ever came.
44:07
SPEAKER_01: He lost everything.
44:09
SPEAKER_01: He wanted his independence, and we respected that.
44:12
SPEAKER_01: But it meant we didn't see it in time.
44:14
SPEAKER_01: In the end, our whole family had to chip in just to take care of him.
44:18
SPEAKER_01: That's a big part of why I started Goldencrest.
44:20
SPEAKER_01: Somebody came to me and said a lot of companies in the gold business were taking advantage of seniors, big markups, fancy collector coins worth a lot less than people paid.
44:32
SPEAKER_01: And I thought about my grandfather.
44:33
SPEAKER_01: I went into the LAPD to help people, and this is how I help people now.
44:38
SPEAKER_01: Show you the real price before you buy, stick to widely recognized coins and bars, answer every question, including the uncomfortable ones.
44:46
SPEAKER_01: So do one thing for me this week.
44:49
SPEAKER_01: You heard the news.
44:50
SPEAKER_01: The Fed says inflation is too high and it's ready to raise again.
44:54
SPEAKER_01: The debt grew$65 billion in a single day.
44:59
SPEAKER_01: And the world's central banks are buying gold at four times their old pace.
45:04
SPEAKER_01: Now do something with it.
45:06
SPEAKER_01: Take an honest look at where your money's sitting.
45:08
SPEAKER_01: Not someday, now.
45:10
SPEAKER_01: Even if it's just to ask a question.
45:12
SPEAKER_01: And while you're at it, call your mom and dad and remind them: a real cop never calls asking for money.
45:19
SPEAKER_01: 888-991-6222.
45:23
SPEAKER_01: Again, 888-991-6222.
45:28
SPEAKER_01: Or text report to 638-257.
45:33
SPEAKER_01: Or go to myfregoldinfo.com.
45:36
SPEAKER_01: Free investor kit and on qualifying purchases up to$25,000 in free silver.
45:43
SPEAKER_01: Call for details.
45:44
SPEAKER_01: And when you call, tell them Rich sent you.
45:47
SPEAKER_01: If you want me, ask for me and I'll call you back.
45:50
SPEAKER_01: All right.
45:50
SPEAKER_01: I'm Rich Jacoby.
45:52
SPEAKER_01: This is the Crest Report.
45:54
SPEAKER_01: Trust, but verify.
45:56
SPEAKER_01: And let's take care of what you've built.
45:58
SPEAKER_01: See you next week.
46:07
SPEAKER_00: The Crest Report is brought to you by Golden Crest Medals.
46:11
SPEAKER_00: For your free no obligation investor kit, plus up to$25,000 in free silver on qualifying purchases.
46:18
SPEAKER_00: Call 888-991-6222.
46:22
SPEAKER_00: Or at the WordPress 638-2574.
46:26
SPEAKER_00: Visit 93Goldenfoot.com.
46:30
SPEAKER_00: Join voice again next week.
46:32
SPEAKER_00: Right here on the custom board.