Latest / Man in America Podcast / RED ALERT: Did Trump Just BREAK the Bank of England? This Could be HUGE!

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RED ALERT: Did Trump Just BREAK the Bank of England? This Could be HUGE! · Man in America Podcast

• 1:33
  Seth Holehouse: Welcome to Man in America. I'm your host, Seth Holehouse. So we're going on almost ten days of having Trump in office, and we have seen massive changes, across the country and around the world. And one of the big topics I've been following closely to try to understand how his presidency is gonna change is the global economic situation. Right?
• 1:55
  United States is sitting in 35 plus trillion dollars in debt, and Trump has talked openly now multiple times even addressing congress about getting rid of income tax, which I would be the first person to say, great idea, but replacing that income with tariffs. Now for me living in America, the idea of tariffs seems like a good idea. I know certain goods will become more expensive, but I'm very, very American first. I like the idea of making the foreign corporations and foreign countries pay to play. But we're starting to see ripples on what these tariffs could actually do internationally, and and we have seen a breaking story in the past couple of hours about how it's affecting the gold exchanges and the flow of precious metals into America as people are concerned that if they don't get their precious metals into America before these tariffs hit, that they're gonna see their price of these metals skyrocket because of that.
• 2:50
  And so joining us is my good friend, Colm Plum. That was breakdown the story. So, Colm Colm, welcome to the show. It's great to have you. We just were on the last week, I think, and, already some big news is happening.
• 3:02
  So thanks for being here.
• 3:04
  Speaker 2: Yeah. Well, I think anytime you see, a news report saying that the Bank of England is is doesn't have they're basically short on gold, and they've told investors that they have to wait four to eight weeks to get their gold. It's something that you it raises an eyebrow, I I think. And and I don't know if if the tariff idea is really what's pushing this idea. I think that's it's it's part of the story potentially, but I don't know.
• 3:35
  I mean, have we discussed doing tariffs with with The UK? I haven't seen any tariffs with The UK. Have you?
• 3:42
  Seth Holehouse: No. I haven't. But if you look at what happened with Colombia and how quick quickly, you know, Trump just pulled out that massive tariff club and started swinging it at any country that was, going up against what he wanted to have happen, maybe the folks in UK are thinking, well, we we better get ahead of this. And let me go and pull up the, article that we can just, I'll do a quick read through of some of the highlights, and I really wanna get your thoughts on this. So, this is just today, Financial Times gold stockpiling in New York leads to London shortage.
• 4:13
  It says, wait to withdraw bullion from Bank of England rises sharply as fears of Trump's tariff tariffs drive shipments to The United States. Says, a surge in gold shipments to The US has led to a shortage of bullion in London as traders amass an $82,000,000,000 stockpile in New York over fears of Trump administration tariffs. It says the weight to withdraw bullion stored in the Bank of England's vaults has risen from a few days to between four and eight weeks according to people to familiar with the process in this as the central banks struggle to keep up with demand. Here's a quote that says people can't get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue, said one industry executive. Liquidity in the London market has been diminished.
• 4:58
  Now it says that since November's US election, gold traders and financial institutions have moved 393 metric tons into the vaults of the COMEX commodity exchange in New York, driving its inventory levels up nearly 75% to 926 tons, the highest level since August 2022. Now it says that gold, total gold flows into The US could be far higher than the COMEX numbers reflect according to market participants because there are likely to have been additional shipments to private vaults in New York owned by HSBC and JPMorgan. Those two banks declined to comment. So, Colin, as the CEO of Noble Gold, you're obviously following these stories, and you understand a lot about the the precious metals market. So what do you see happening here?
• 5:43
  And I think the important question that I'm wondering as someone that is invested into precious metals is how do you think this is gonna play out in terms of the prices of gold and silver this year?
• 5:54
  Speaker 2: Yeah. So, again, I still am confused in the idea that there's tariffs because it's never been discussed with UK. But but the thing that the most interesting thing of that whole article to me is the idea of it being stuck in the queue. I don't understand how is it stuck. It when you buy these contracts of gold, the gold is supposed to be there.
• 6:17
  There there's no there's no queue. You're not waiting on the gold. That and that's the thing that I've we've talked about a lot over over the years is that, is there gold backing up every contract? And and what they're alluding to is that there's not. That they're waiting.
• 6:32
  They have to wait, which means they don't have the gold. They have to they have to accumulate the gold from somewhere. How can that be? COMEX and these, they're supposed to do audits. There there's in London, New York, there's audits.
• 6:47
  So why would there be any weight of gold? Right now, I can get gold to somebody in five days. You know, I'm a lonely gold dealer here in The US. Right? I mean, I'm no Bank of England, but I I I can tell you this.
• 7:01
  We're shipping gold. It's getting there very quickly. The concerning thing is is are these institutions actually holding enough gold? That's what that's what that means to me. And and why aren't these contracts backed up by by the real metal?
• 7:19
  That's concerning to me.
• 7:21
  Seth Holehouse: And so one thing I also wonder as well is because I've done a lot of kinda digging into how they've been able to suppress the prices of precious precious metals. And, you know, one idea that I've come to over and over again through my research is that they're basically using these contracts to create an artificial supply that's much larger than the actual supply.
• 7:41
  Robert Kiyosaki: Correct.
• 7:42
  Seth Holehouse: So that I've heard sometimes it it's even a hundred to one. Right? So for every one ounce of silver, they've got con they've got a hundred contracts out for a hundred ounces, which it seems like it's some sort of Ponzi scheme. And if the banks are the ones that are inflating and selling these these contracts, then I feel like that what it's doing is it's messing with the natural laws of supply and demand because Correct. If a lot of investors around the world think, oh, I've got a silver certificate.
• 8:10
  See, I own a thousand ounces of silver on paper. But if a hundred other people also own that same thousand ounces on paper, it's the same thing as the banking industry and what causes bank collapses is that everyone says, oh, my bank account says I have a hundred thousand dollars, but with the the the the amounts the the the minimum requirements that banks have, you might be one of a thousand people that all claim the same hundred thousand dollars. Right?
• 8:34
  Speaker 2: Yeah. The the fractional reserve currency, the way that banks hold, you know, maybe a tenth of of what they have in in savings. I think that's I mean, this is in essence like a bank run. That's that's in essence what happened is that people said, I I don't feel comfortable. I I want it closer.
• 8:51
  I wanna actually get the the gold. And then there were so many people saying, I wanna get the gold that they couldn't keep up. They didn't have enough gold. And so, you know, this is when people always ask me, you know, how do you buy gold? How do you do it?
• 9:04
  And and that's why a lot of people just won't mess around with any kind of contracted gold or or any kind of ETF because they're concerned about this exact situation. And I and I think it also shows that people are concerned about where the price could go, and and they they wanna get their hands on gold because they're anticipating prices to go up. Tariffs are are one part of the conversation. I mean, there's there's been conversations about how that would affect other precious metals, silver too, you know, silver imports into The US. So there's a lot of this talk about how these things would would affect us, and and February 1 is right around the corner.
• 9:44
  So I I think people are wanting to put themselves in the best position to get any assets before there could be any kind of spike. And and that's what I saw when I saw this report. I mean, this this news report splashed all over the news, all over Great Britain, all over in New York. You know, starting to make its way around the country now, but I I think as more people see this happening, they're gonna realize, like, wow. This is a shortage, and I and I won't be surprised if we see other areas start to have a similar thing because people once they realize that there's not the gold that they purchased there, they're gonna also question and go, you know what?
• 10:19
  I wanna call that contract in. I wanna get some of my gold too. And a lot of people have been I don't know if you know this, but there's there's this mystery Asian buyer that they've been talking about on the gold market. There's these very wealthy Asian families that have been just gobbling up tremendous amounts of gold over the last ninety days. They they call it the mystery Asian market because it's not one person.
• 10:41
  It's usually a conglomerate of very wealthy people that are doing this, and they believe that's part of the reason that the prices continue to to kinda push up. So it it's I think the gold market is telling us something with this shortage that people wanna get it. There's there is some movement here. There's something happening behind the scenes that are making people cautious. And I I think at the end of the day, everybody wants to have their gold.
• 11:06
  That's why you buy it. And now, you know, I'm sure those those people waiting on those eight weeks are not gonna be happy, until they get the gold in their hands.
• 11:15
  Seth Holehouse: Especially if they believe that that gold that they own was sitting in a vault with their name on it. And now they discover it's almost like sometimes, you know, if you go to the bank these days and, you know, say for me, if I had pay a contractor, and I need to go get $5,000 cash to, you know, pay a handful of contractors for some work on my house, and the bank is asking, well, what's this money for, and what's your profession? And sometimes I'll joke. I'm like, oh, actually, I'm a mercenary. And I'm like, I'm just kidding, and and they'll laugh with me.
• 11:40
  I have fun with it. But it it's the same thing. It's like, well, hold on. Isn't this my money that's sitting in the account?
• 11:45
  Speaker 2: Yeah.
• 11:45
  Seth Holehouse: Yeah. And Yeah. You mentioned bank runs, and and that this is what's what comes to mind with this is because, you know, as we know about our banking system here in America, that it's really it's almost a a normalcy bias that keeps our banking system healthy. It's a belief that everyone thinks, oh, well, my money is safe in the bank, and it's insured by the FDIC. But when you look and you realize that the FDIC can only insure, you know, 1% of the overall deposits that it's supposed to be insuring, if enough people see through that, they're gonna lose trust.
• 12:17
  And so I'm thinking the same thing that you are is is this the beginning of the I wouldn't say necessarily collapse of a certain system, but the the the the breaking of the illusion that they've been using to oversell precious metals to keep the prices down. I mean, what do you think? Yeah.
• 12:35
  Speaker 2: I I mean, I think that's that's a logical conclusion, and I think they the thing that I didn't see is why isn't anyone questioning the the practices of these depositories? Why isn't anyone saying, where is the gold? Why is it why isn't it being audited? Where where is the oversight here? Because COMEX, this is this is the the biggest exchange where everybody LBMA, this is where all the gold and silver.
• 13:01
  This is where central banks are going. This is where they're bartering from. I mean, there should be better oversight. This isn't a small amount of gold. This what is it?
• 13:09
  $82,000,000,000 in gold? This is a tremendous amount of gold that they don't know where it is, and they don't know when they're gonna be able to get it shipped out. So I I think that, you know, if we were in a a COVID time, you know, people might say, oh, maybe they're waiting on delivery or maybe this and that. We can't say that today. There there's nothing like that.
• 13:30
  There's no there's no, you know, world crisis like that that's happened today. So there's really no excuse for them not to have this gold. It'll be interesting to see what comes out of it and discovery, but it's just the first little inkling that there that there's a problem that that they may not have all the gold they say they have, and and I'd be interested to see if they're gonna do more audits. And if it turns out they don't have all the gold, that it's not all reported, that they're waiting on it and it's fractional, then you're right. Then the the price is suppressed, and then the price should be much higher than where it is today.
• 14:03
  And and that's that will be telling to see. But, you know, the end of the day, I mean, in an inflationary environment like we're in right now, gold is is gonna do well, and and that's why you're seeing kind of this pandemonium now where they're just like, they really wanna get their hands on their gold. They wanna feel safe. They wanna know it's secure, and and I can't blame them for that.
• 14:24
  Seth Holehouse: And so let it's no. None of us have a crystal ball. But if gold and we can say gold and silver because, you know, I'm I'm kind of personally, I've got both gold and silver. Actually, I'm more heavily in silver than gold because I because of the ratios, and I think that the ratios alone tell me silver should be much higher. Right?
• 14:41
  Actually, it's supposed to be, what, closer to a 20 to one ratio, whereas right now, it's what? 90 to one or 80 to one?
• 14:47
  Speaker 2: 90 one to one. Yeah. Right now. Yeah. Yeah.
• 14:49
  The the hundred year average is 50 to one, which actually I go over in my book, Silver's New Oil. I talk about all these things. But, yeah, I mean, even if it went back to you know, it was 30 to one in 02/2011. So that would be where the gold is today, where silver is today, silver would go to, you know, a hundred and 20, a hundred and $30. So that'd be a pretty massive gain from where it is today.
• 15:13
  So, yeah, I agree with you. I like silver. I think the price has been suppressed in silver also, but we'll see. Maybe there's gonna be some runs on silver too because COMEX, they also hold silver. You know, I know they hold, you know, thousand ounce silver bars.
• 15:29
  And so we'll see if people are gonna start wanting to have those and and know where they are and have some physical delivery of that too. You know, they just talked about the gold, but that could just kinda be the start of this year. So it it is there's a lot of movement here, but, ultimately, I think the idea is people wanted to protect themselves from a potential tariff, and by doing so, realize the gold that they thought they bought isn't it may not be there, and it created more of a hysteria. And and we'll see what happens over the next few days if they're able to to make it better. I mean, after they said four to eight weeks, there was no comment after that.
• 16:04
  That was it. There was nothing else. They didn't wanna make any other comments, which if I'm an investor there, that doesn't make me feel good that they don't wanna comment either even farther than that. I mean, any logical person would say, like, I should get I should get more than a no comment when you supposedly have my metals that is supposed to be delivered in three days, and now you're telling me four to eight weeks. So there's more to this story.
• 16:28
  Seth Holehouse: There is. So I mentioned the crystal ball. I know you don't have a crystal ball, but you have obviously studied this extensively, and you go over a lot of it in your book.
• 16:36
  Robert Kiyosaki: Yeah.
• 16:36
  Seth Holehouse: If if there was the the, you know, more of a run on on these metals and if the the illusion and and the price controls that they've been using through overselling, you know, and over inflating the supply through the the paper contracts, if that fell apart and everyone actually just demanded to have the metals that they had on paper, what do you think what could the price of of these metals go to? Because I know last year, some of the bigger banks were saying gold could be 3 to 5,000 an ounce potentially. Yeah. What what do you see as a potential for this?
• 17:09
  Speaker 2: Yeah. Well, I think with silver, if I just look at what happened during COVID because that is sort of what happened during COVID is that people couldn't get silver. Right? Because most of the silver in the world is mined in Mexico and their mines shut down for for many, many months. And once people realized they couldn't get it and it was unavailable, the price went from, you know, $12.13 dollars and went in six months, it went from $12.13 all the way up to $30 an ounce.
• 17:33
  It was a massive run because people the idea that they couldn't get it, you know, there's it just creates this couple of the fact that government was just printing money. I mean, was it was just the kind of the perfect storm for metals. So I think at minimum, you'd see that kind of hysteria where it would double. But, you know, if it if it's really true that they don't have all the silver and that that these contracts have been in place and they've just been, you know, manipulating the market, and and they haven't been telling us that. And who knows?
• 18:03
  Who's I mean, the sky's the limit on both gold and silver if if those things were to happen. I mean, the it would basically say that every person that's bought it at the current price bought bought gold that they thought was relatively rare, but it actually was even more rare. It it'd be like, you know, buying like a like, you know, buying like a regular Porsche and then finding out that it's actually one in a thousand. Right, or one in know, maybe it's the only one that they've ever made. You'd be sitting on an antique, right, sitting on something that's much more valuable.
• 18:37
  So I think if you had that value underneath you and and knowing that there's there's a lot less gold in the world available, there's a lot less silver in the world available. The price would just it would be it would be quite unbelievable. And and, you know, we'd go back to how we were working during COVID. We were working seven days a week during COVID. We'd be going back to that scenario, which, you know, we'd be happy to do.
• 19:01
  Seth Holehouse: It also makes me wonder because looking at what just happened with DeepSeek and look at the big tech stocks, but also looking at how much money was pulled out of the crypto market. I I'm wondering if there's a lot of people that not just crypto, but even that we're just investing in, like, the magnificent seven and the big tech stocks. If that you know, with that shakeup that happened and it's also interesting that you mentioned that there's these big Asian buyers, which, you know, I I look at what happened with DeepSeek and and that they just released a new Alibaba AI. I think it's called, Quinn, I think it is, which makes me think, is this economic warfare by China to collapse some of these tech stocks, which really represents the massive bubble of our stock market? And I'm wondering if these families know what's coming.
• 19:47
  And so these wealthy Asian families that are probably tied into the CCP or some of the larger leading organizations of the BRICS, etcetera, if they know something is coming so they're you know, while everyone else is you know, have been rushing to buy, you know, crypto and and the stock market, they they see what's coming, and they're quietly moving all of their assets into precious metals.
• 20:10
  Speaker 2: Yeah. It it definitely it it's a big I I believe in that too, and then I think that listen. If you look at it's always hard to know what markets are gonna do, but I I think DeepSeek and what happened on Monday and and the fact that that that we're riding so much on this AI tech, that that so much of the stock market is built on that and that they could build it for for a fraction of the price. You know? They've been telling, you know, ChatGPT and Nvidia said, you need billions and billions of dollars in chips and you need these computers and you need all this and it's gonna cost $6,000,000,000.
• 20:46
  And this this company does it for $6,000,000, right? I mean, that that's that's sending that's gonna continue to send some shock waves through the market. And and the majority of the wealth, as you said, you know, 35% of the wealth there is is those magnificent seven companies, and really, big push is AI in one form or another. That's the real, you know, potential growth story that they're telling us that will continue to push things even higher. But if the cost that we're paying in The US is too high and and it they can do it for a fraction of the price and the competition's gonna come from all over the world, then what are those magnificent seven really?
• 21:25
  What are they really gonna do? And how are they gonna compete at at some of the prices that these other countries can build these products at? And that's that's gonna be a telling story here. And and, you know, listen. It's so heavily weighted in the seven companies, and the volatility index is very high.
• 21:42
  You know, there's it's concerning. And then Powell, you know, obviously, like, being cautious in terms of the Fed and saying he's not gonna lower lower rates. So there's there's some things happening. This, I I think, was the most interesting week in news in terms of economics that we've had in a long time. I mean, so many different variables came to the forefront, and and I think the thing that, you know, reminds me is that at the end of the day, you're buying different assets to protect yourself.
• 22:11
  You're buying uncorrelated assets. And so the gold and silver is the safety play. Right? And that if things do go a little haywire and things aren't as strong as they are, is that you have something that you own that that has no debt behind it, that you own, and that has performed well for thousands of years. And and that's really the thing that I always think about is that you're never gonna pick it always perfect.
• 22:34
  You gotta move and shift as you see opportunities, and I and I think that we're in an opportunity cycle. I think I I 100% agree with you. Silver is the opportunity right now. I love where the price is, so I'm really, really hedging my bet and buying a lot there. I'm excited about it.
• 22:50
  So but yeah, from from deep seek to this gold, you know, shocking gold story, there's definitely some movement behind the scenes where people are getting out of some of the traditional stuff and and they're hedging their bet, basically. And they're they're gonna float a they're gonna float a safety.
• 23:06
  Seth Holehouse: And that's that's really my perspective too is that, you know, I look at precious metals not as a get rich quick. Of course, look, I would love if if silver hit $75 an ounce. I'd like, okay. Great. I'll pay off my car, and I'll do do something else, and it it'd be amazing, but that's not why I've put, you know, any basically, any extra money I have then towards investments goes into precious metals because for me, it's the same reason why I've got a a huge storage of food, of, you know, storable food, and why I've I've I own land because I think that we're entering into a time period of massive instability.
• 23:42
  And the only thing, you know, that I feel safe with, even safer than having cash in my hand, is precious metals. And to me, it's an insurance policy that if things go sideways, I'm not gonna wake up one day and see that my stock portfolio has gone from, you know, $500,000 to $50,000 overnight. And I know that, like, that's that's to me what what precious metals represent is it's it's security. It's an insurance policy. It's something that, hey.
• 24:09
  You know what? I can pass this on to my children one day, and it's gonna set them up, and it's it's gonna give them security.
• 24:15
  Speaker 2: Yeah. It's funny you mentioned, and you started talking about your family. And and I think fundamentally, the thing that always, you know, draws people to precious metals and these types of safety investments is family. I mean, that's really why we do all of these things is you do wanna put your family in the best possible position. And, you know, when we talk to people about precious metals and why they're doing it, a lot of it is not even for them.
• 24:43
  It's for their kids. It's for their spouse. And so I think that's the the layer too is that when you take the the ego out of it in investing in business and all this and you really just fundamentally realize that you're doing this to provide the best life for your family, then it it makes things a lot. It makes a lot of the decisions much, much easier. And that's what people have told me for this, you know, sixteen years I've been doing this is like I made this decision for my family and and I think that's the best way to make any of these decisions.
• 25:16
  Listen, there's speculative stuff. There's speculative investments and you're going to take a flyer on something and you're going to win some. You're going to lose some, but it's at some point you gotta make some some kind of safety smart decisions for your family, and I think that's why a lot of people right now are starting to see what's happening and realize, hey, this is this could be a good time to just take some chips off the table, get into something safe, and and just, you know, prepare myself for for anything that can happen.
• 25:42
  Seth Holehouse: And, Colin, I I couldn't agree more, and and I I'm practicing what I'm preaching. This is my exact philosophy. So if folks want to reach out to your company, Noble Gold, which you you've got my full trust. I've I've done a lot of business with you. I know you on a very personal level.
• 25:58
  We've got a a website set up. So, goldwithSeth.com. It brings them here. You've got this the gold and silver investment guide. They can enter in their contact information here.
• 26:09
  Also, your phone number we've got is (626) 654-1906. So, Colin, walk us through if someone calls this phone number or if they fill out that form, say they've got an IRA or say they've just got a cash account. They wanna move into precious metals. Is it complicated? What's that process look like?
• 26:27
  Speaker 2: Yeah. No. We I mean, listen. The first thing is we get to know you. We we the person that you're on the phone with, you they're gonna be your person.
• 26:34
  And we work as teams, but we typically be one person as you build a relationship. So the idea is you get to know them. They get to know you. They learn about you and your family and kind of what you're thinking. You know what?
• 26:44
  What's the idea? We are we doing an IRA? Are we doing cash? And they're gonna walk you through that whole process. But now we've done, you know, thousands and thousands of transactions.
• 26:53
  We've shipped over $1,200,000,000 in gold and silver. We've done over $2,000,000,000 in precious metal sales. We make it very easy. Whether it's an IRA, the paperwork's easy. We do all the paperwork for you, or if it's just, you know, a cash direct investment, we do that.
• 27:07
  We ship it to you, or if you want, we can store it. Yeah, we handhold. It's a very white glove experience, and we've done it in a very specific way. So we we focus on less investors, but we build relationships with those investors and and they get great service and and that's what they're gonna feel. And everybody that that you're gonna talk to owns precious metals, knows precious metals, loves precious metals.
• 27:32
  This is what they do all day. So you're not you know, you're focused on somebody that really understands this, and they're gonna go through all the details, explain the products, spend a lot of time with you, and then, you know, ultimately let you make a decision if it's if it's right for you and your family.
• 27:46
  Seth Holehouse: Sounds perfect. So I'll bring up the website one more time. GoldwithSeth.com. Phone number, (626) 654-1906. That information will also be in the description for today's show.
• 27:58
  And, honestly, you know, my just my advice to, you know, the the viewer, also to my family, whoever it is, is that, right, it's almost like right now, you have the opportunity to buy toilet paper before there's the lines at Costco for toilet paper. That's what I did. I went out, and I I had a whole kind of stockroom of toilet paper and stuff like that before everything hit with COVID because I saw the writing on the wall. And Yep. Even now I look back at some of the stuff that I bought, you know, let's say in 2020, '20 '20 '1 that, you know, whether it's food supplies or whatever it is, I paid a third of the price of what it is now because I saw what was coming.
• 28:31
  And that's how I look at precious metals right now. I I think that right now is the opportune time, and what you say with silver is the new oil. I agree. It's like, yeah, it's like oil being at $10 a barrel right now. It's like, hey, folks.
• 28:43
  Oil's $10 a barrel. It could go to a hundred bucks a barrel. So, anyway, we'll call in. Thank you for coming on. Do you have any closing thoughts as we round this discussion out?
• 28:52
  Speaker 2: No. I'm I'm glad we were able to get on. I think it's so much happening in news. Can't wait to talk again. And, yeah, if anyone's just looking to learn and get educated, call us.
• 29:01
  I think you're gonna like the people you talk to. Check out our reviews. Check out our, you know, AAA rating on the Better Business Bureau and, you know, spend time. We really pride ourselves on customer service. So but otherwise than that, thanks so much, and and I'll see you on the next one.
• 29:15
  Seth Holehouse: Alright, man. Thank you so much.