Latest / Man in America Podcast / The Dollar Ponzi SCAM is Collapsing & the Middle Class Is in DANGER w/ Collin Plume

Transcript

The Dollar Ponzi SCAM is Collapsing & the Middle Class Is in DANGER w/ Collin Plume · Man in America Podcast

0:13
Speaker 1: Welcome to man in America, a voice of reason in a world gone mad. I'm your host, Seth Holehouse. So I'm gonna start today's show with a definition of a word that I think is highly relevant to our society right now. And that word, the magical word of the day, is gaslighting. So I'm gonna read this quick, AI overview description of what gaslighting is.
0:38
It says, gaslighting is a form of psychological manipulation where a person subtly tries to make another person doubt their own ins their own sanity, perception of reality, or memories. It's a tactic often used to control and exert power over someone making them dependent on the manipulator. The term originates from the 1938 play Gaslight, and it's 1944 film adaptation where a husband manipulates his wife into believing she's going insane by dimming the gaslights in their home and denying it. So it's funny because this word is oftentimes thrown around and oftentimes used in that that specific scenario of, like, oh, the husband gaslighting his wife. And it's like, oh, I'm not having an affair.
1:16
You're insane for thinking that and all these things, and you find out actually, yeah, the husband was doing that. But here's what I don't like, though. I don't like being lied to, and I don't like being gaslit. I don't like when I observe the reality around me, and I come to my own conclusions, and when I see the official sources saying things that make me think, wait. Either I'm insane or you're lying.
1:42
And so one of the big areas that I think that we have been gaslit more than anything is the economy and what's happening with inflation and the cost of everything there is. So I'll pull up a quick article, which I'll be getting into, in today's show. They say that US annual inflation rate unchanged at 2.7% for the second straight month. So they keep telling us, oh, well, according to CPI data, inflation is only up, say, 2% or 3%, and I feel like I'm being gaslit here. Because when I go to the grocery store, when I have to make a purchase, or when we're looking into buying something, whether it's a a lawnmower or, you know, we're exploring getting, a small travel trailer for doing some camping, And I'm looking at the prices of these things.
2:33
Pretty consistently, if I go back and I see, like or say, like, an infrared sauna, which you've been exploring getting one of those things, and I look at, okay. These this particular sauna is $4,000 now. Yet I'll find an old Reddit thread and people talking about how in 2021, the same exact thing they bought for $1,800. And I'm thinking, how is it the price of this has doubled in the last three years? And that's not to mention groceries, my power bill every month.
3:01
It just seems like everything is getting insanely expensive. Even rent. Like, I'm seeing videos now, like, all the time on going viral on social media about people saying, like, I can't even afford to to to find a place to rent. Like, I remember, you know, back when I was in in college in in Columbus, Ohio, I think I was I had rented a two bedroom apartment for, like, $600 a month in, like, a decent area of Columbus, and that was back in the early two thousands. I look at those places now, and the same place is probably $2,000 a month or $3,000 a month.
3:35
So something isn't right here. Right? So that's that's that's where we're getting into gaslighting is because I'm looking around, and I'm seeing, okay, everything seems more expensive. Almost everyone I talk to. Right?
3:47
So a lot of local businesses I go to, whether it's the local farm stand or the local milk store, you know, I ask them. I talked to the business owners. I love being small local you know, small business owners that are local, and I say, how's business for you? How are things doing? And consistently, they're saying, yeah.
4:02
We're we're actually this year, like, we're seeing a continued downturn again. Like, people are really tightening up. And I think that a lot of people thought that Trump getting back into office was going to bring us into this golden age, right, where we're thinking, oh, great. He's gonna fix inflation. Maybe he's gonna end the Fed.
4:20
He's gonna, you know, you know, revalue gold. And all these things are gonna happen, and we're thinking, great. Like, we're finally gonna get back into a, you know, a fiscal policy that's booming economy and small businesses opening up and, you know, low interest loans to business owners, low interest loans on homes. And I'm seeing, unfortunately, like, almost the exact opposite. Like, most people I talk to and and, I mean, let me know in the comments what you're experiencing, but almost everyone I'm talking to, whether it's a business owner or just people, you know, family, friends, etcetera, are saying that, yeah, everything has gotten more expensive.
4:55
And so I have a hard time making sense of that because, again, when I see these articles coming out talking about inflation or I see the White House putting out these memes saying, we're back into the golden age again. Like, I look around, and I'm like, I I don't see any gold. Like, I see that, yeah, Trump's put more gold leaf on parts of the White House. Maybe that's the golden age, but I'm not seeing more gold in my pocket. Right?
5:17
I'm not sure about you. And so today's show, I've got my good friend Colin Plume, and we're gonna be tell who understands, you know, really a lot about the economy, the markets, precious metals, looks at the whole thing, whole picture. He does a great job of putting everything together. But we're gonna be looking at what is the reality of this. And and then on top of that, we're gonna be getting into tariffs because, again, which I'll I'll I'll I'll pull a quick article up here, which I'll be getting into more in-depth with Colin.
5:44
This is an article Epoch Times from today. It says, tariff costs borne by consumers could triple by end of year. So a Goldman Sachs report, they say that, the pass through, expense of the tariffs pass through to households will rise from 22% to 67% as the cost burden shifts from businesses to households. And this is another area where I I just can't make sense of it. It's like, okay.
6:07
Yeah. I I I love the idea of tariffs. I love the idea of an external revenue service. I love the idea of getting rid of the internal revenue service, which we've been teased about, and maybe it's gonna happen. Maybe it's not.
6:20
Who knows? But fundamentally, if I'm trying to calculate this, it's like, well, if I'm a foreign company, I'm selling products into America, and all of sudden, America is like, okay. We're gonna charge you an extra 20% for your products. Well, I'm just gonna raise the price of my product. So I I have a hard time understanding how the added the added expense of the tariff is not gonna be passed through to the average consumer.
6:45
And, again, maybe this is more gaslighting, but if I pull this article back up about The US annual inflation, in the first paragraph, it says that US annual inflation was unchanged in July coming in below comments expectations as president Donald Trump's tariffs did not have a significant impact on consumer prices. So I'm trying to make sense of all this because I feel like they're similar to, say, George Orwell. You know, there there's how many fingers, Winston? That there is the official government narrative about what life is like for the average person here in America, the small business owner, the the wage earner, etcetera, con you know, independent contractor. So we have the official narrative of what life is like for us here in America, yet that narrative is seems completely out of touch with what the average American is experiencing.
7:36
And I'm not, you know, doing this show to to bash Donald Trump or anything like that. I'm just I'm just looking objectively and just saying something is not adding up here. And then you also have the stock market, which is at all time highs, you know, with Dow's over, what, $4,445,000. Yep. That stock market, it's mostly in the magnificent seven, these big tech companies, whereas everything else seems to be struggling.
8:00
So either I'm crazy, or there is a reality of the economy and with the financial situation here in America that is being painted over with gold leaf and presented as something it's not. And the unfortunate thing is that that history shows us reality always wins. Truth always comes to the surface. And so is the truth coming to the surface gonna be a significant market correction? Is it going to be, you know, the as we'll talk about, you know, the jobs numbers coming in way lower than what we're told to expect or what?
8:37
Because obviously, as all of us living in America trying to get by, like, I'm you know, I've got two little kids. I'm constantly thinking about, okay. What am I gonna leave my children when my daughters are in their twenties and they're getting married? Will I be able to help them buy a house? Will I be able to to save for that?
8:53
What about my retire what about my parents' retirement who are now approaching the age where they're really you know, a lot of their income is based on Social Security and all this stuff. And so, anyway, I think that you're gonna enjoy this interview with Colin Plume. It's just gonna be a straight shooter, you know, kind of interview. We're gonna cover a lot of topics. But fundamentally, I think it's about trying to get to the bottom of what is the reality of life in America with with the economy, because I wanna know what's true so I can act upon that.
9:22
If the stock market really is, like, booming and there's all the indicators show it's gonna be amazing, well, maybe I'll sell some silver and put it in the stock market. Right? Which is not true for me. I'm not gonna do that, but I deserve to know the truth, and I don't feel like I'm getting the truth from the official sources or from the White House. So enjoy the interview with my good friend, Colin Bloom.
9:45
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10:56
I feel like it's been a while, so thank you for being here.
10:59
Speaker 2: Yeah. Thanks, Seth. No. It's good to be here. Exciting.
11:01
Lot lot to talk about today.
11:03
Speaker 1: As as usual. So one thing that as I'm looking and is, like, watching what's happening with the economy, obviously, I'm paying close attention to things like gold, silver, Bitcoin, the stock market, seeing how all these things are balancing out. But one thing I can't make sense of is the combination of tariffs and inflation versus the reality, I think, that Americans are facing. So I wanna pull up a couple articles really quickly here just to paint a little bit a picture. So here's an Epoch Times article just from today.
11:33
It says, US annual inflation rate unchanged at 2.7% for the second straight month. They continue down in the article talking about how, basically, even with the tariffs actually, sentence first sentence here opening. US annual inflation was unchanged in July, coming in below economists' expectations as president Donald Trump's tariffs did not have a significant impact on consumer prices. So you have this perspective, which is oftentimes the perspective of the White House. They're bragging about the economy, and inflation's low.
12:04
Here's another article that was, like, right on top of this article on the homepage of the Epoch Times, saying that tariff costs borne by consumers could triple by year end, says Goldman Sachs, as the investment bank projects pass through to households will rise from 22% to 67% as the cost burden shifts from businesses to households. I'll I'll read a little bit down here. It says that American consumers have absorbed roughly 22% of the cost from a president Donald Trump's tariffs through June, but that is expected to swell to 67% by year end if the pattern of past levies holds, Goldman Sachs economist said in a note this week. So it says that businesses have so far carried around 64% of the cost for exporters around 14% according to the analysis. So my question here, before I get into it, I've got a video to play in a little bit here about grocery costs, is this whole idea of tariffs.
12:57
Right? So let's just say that I make this mouse. Right? And let's just say that I'm I'm a I'm a company based in China that makes this mouse. And say my manufacturing cost is $5, and I'm gonna send it to America and sell it for $25 at a 500% markup.
13:15
If The United States now says, okay. We're gonna charge you, say, 50% of of a a 50% tariff on this mouse. As as the Chinese company, I'm not gonna say, oh my goodness. My my my profits have just been cut in half, so I guess I better take a big loss. What I'm saying is like, okay.
13:34
Well, I'm gonna increase the price of this mouse by 50% because I'm you know, because I've got my own margins. I have my own overhead. I'm gonna increase the price of it. And, ultimately, I would think that the ink that tariff is gonna be paid by the consumer. So while the White House is out saying that, oh, tariffs haven't increased in any inflation.
13:53
We're not seeing any changes. To me, it just doesn't make financial sense of how that would be the case. It seems like Goldman Sachs also is making that case. So what do you think about all this?
14:03
Speaker 2: Well, this was the the cost benefit of the the gamble we made forty years ago with with shipping everything overseas was that we'd have this, you know, arbitrage that would be in our favor if we didn't do anything like a tariff. But once we do a tariff, then the $5 wholesale cost in the mouse for them to keep their same profit margin, they're gonna raise the price of that mouse to 8 or $10 wholesale, which then the retail buyer is gonna pay 30 to $35. I don't think we've seen the effect of it yet because the tariffs have flip flopped. Also, there's still enough products here in The US that they're able to price them pretty close to the same. Car cars are a good example that if if we continue the tariffs the way they are, we'll see the effect later this year because eventually, they will have to start selling cars that are imported.
15:10
But right now, we have enough products. We have enough cars. We have enough mouses. We have we have enough currently. But everyone that I know that's in manufacturing is is waiting to see what the effects and they're just they're just slowing down.
15:24
They're not hiring, and they're just gonna wait until they have any consistent message from the White House on what things are gonna cost because they're not gonna be able to pass the saving the the not the savings, the cost to the retail store that they sell to and the consumers based on these astronomical numbers. They just the numbers don't we're not there's too much of a sticker shock for a consumer. And, you know, we are seeing it in in just in terms of, yes, maybe the CPI today hasn't hit. But we also know some of these government numbers that come out are not based on current data, that they usually are using data that's sixty or ninety days old. And then they're trying to estimate the future, which is, you know, we're gonna talk about the BLS commissioner and the report.
16:16
But we know that a lot of times that data is not always accurate. And it it it does feel like 2.7% is lower than than what the day to day is. Also, you just have to think if if people are buying less, the prices will have to go up because these companies will still have to profit. You know, like, for instance, like, I don't know if you've seen these reports about Las Vegas. Las Vegas is, you know, the good indicator of how the economy is doing because Las Vegas used to be a place that people could go to have fun, and and it was like a a easy trip, and people felt like they got a lot of bang for their buck.
16:54
But now Las Vegas is absolutely dead. People are afraid. They're not traveling there. They're not spending money. Everybody is is becoming more conservative with spending right now, and that will trickle down to the third and fourth quarter of this year where a lot of these retailers sort of live on holiday shopping and Black Friday and all these things, people are hunkering down right now, and they're getting much more conservative, whether it's on the consumer side or on the business side until there's a clear picture of what the the actual tariff mandate is gonna be.
17:30
And it's and and we've had no consistency, and that's the worst thing for a stock market, and it's the worst thing for companies, you know, Fortune 100, 500. They they need a clear road map to determine how they're gonna, you know, map out their futures, and they just haven't had that right now.
17:49
Speaker 1: What's also interesting with stock market, and I'm not a big stock market guy. I've never you I've owned a little bit of you know, at some point, I had some some gold mining shares and a few things like that. But I've also been seeing more increasing reports and and information coming out, especially on Twitter following, you know, like, the kind of minute by minute discussion about a lot of indicators that the stock market's not healthy, and one of the biggest indicators being that a significant portion of the value of the stock market is sitting in a handful of big tech companies. It's it's similar to, like, what happened in the .comcrash that, you know, the stock market that everyone looks at, like, oh, wow. The Dow's at, you know, what, 44,000, and my, you know, my portfolio is up 11% in the past six months or whatever.
18:33
But that it's actually it's it's just a small portion of of the of the the big tech companies and that if you if you pull those out, the stock market's actually, like, really unhealthy looking. It's like everyone just thinks that, hey. Keep buying NVIDIA stock, and we're all gonna be millionaires. Well, haven't we learned as whether it's, like, the Dutch tulips, or haven't we learned these lessons before of when everyone's going after one thing? I mean, so what is your I know you're you're much more tuned into what's happening with the markets.
19:01
What is your perception of what's happening with the stock market?
19:04
Speaker 2: Well, there's there's two different things that I've been looking at really closely. One is multiple reports, Newsweek on, that talks about how Nancy Pelosi, her returns in 2024 outpaced the largest and most profitable hedge funds. There there's reports of her earnings last year being between 5470% profit. Okay. So, you know, some people are are doing well there, but they're they're very aggressive.
19:40
You know, her strategies are not your typical strategies where she's getting in and out of things quick, which most people are not doing. And and also, most people don't have the inside information that she has. The the ability to, you know, get ahead of things because of the information she has on all the committees she's had and being in politics for a long time. I mean, they really know a lot more than than the everyday Americans. So, yeah, if you're her and you have inside information, you're gonna do okay.
20:11
The second thing that I look at is Warren Buffett and Berkshire Hathaway, they have the largest recorded number of short term US treasuries right now. They've never had this much. They they've continued to buy them. They're not putting any money in the stock market. They're not putting any new money.
20:33
Everything is going into short term US treasuries, and they're waiting for opportunities. And the only reason that a person that's 90 years old that has always won, you know, he's always picked right, is that he doesn't wanna get caught in a dramatic downturn. And so he you know, this company that can invest in anything that it wants is sitting in out of the stock market, sitting in short term US treasuries, which, you know, it's it's been interesting because you have him doing that, and then you have this the genius act bill where, you know, they did this crypto regulation, this genius act, and it and it basically, they said to the stablecoins are gonna be backed by the US dollar or US treasury. So there's a lot of this big push for large money to get into US treasuries, which thank god because otherwise, we'd be in trouble. I mean, most of these you know, when they when they release these bonds to the public, there's not a tremendous amount of excitement for any of the one, two, five, or ten year bonds.
21:40
So now they've come up with these shorter term bonds that have appealed. So we're we're literally going from an economy where and we need these bonds. We need them to keep the the the Ponzi scheme going, but now we can't even sell bonds that are longer than a few months. You know, these are three and six month bonds because people believe there's gonna be a correction, and so they just don't wanna tie their money up for a long time. So when I look at the stock market, I look obviously, all the indicators of the magnificent seven are are way higher than they've ever been.
22:13
It doesn't present any kind of safety. You know, you could have many runs here or there, but long term, you're buying into assets that are are trading at multiples that are are in a in a situation where they could implode. And I think as anyone that's that's has a lot of money there, is tied a lot of it, I that would make me tremendously nervous. I do have money in the stock market too, but I'm very risk averse right now because I do think there's gonna be a correction. So I've moved a lot of the money out of the, you know, those typical mag sevens into more conservative areas.
22:50
Obviously, I have my precious metals holdings, which is a, you know, a bigger part. But, yeah, I'm I'm quite concerned about, you know, what I'm seeing. I mean, you have two pretty big successful investors that are, you know, in trading very quickly in and out of things like Nancy Pelosi, and then you have Warren Buffett who's basically sitting in cash. So I think that's a pretty important telling point that these these two investors are are sort of shying away from your traditional, you know, mutual funds and and stocks.
23:24
Speaker 1: So you're telling me that the average American doesn't have the knowledge to do insider trading like our politicians do. Basically, it's it's like, that's really what it is. It's it's it's like, how how does wait. Nancy, how did you know to put 3,000,000 into that, you know, that tech company that, you know, a a week later, you announced a a their you know, Newsom announced a big shift in something in in a in a law that opens that up. It's almost like maybe her and Newsom are related.
23:48
It's like, oh, yeah. Isn't he, like, her nephew or something? It's like it it's it's some it's a giant kleptocracy, isn't it?
23:55
Speaker 2: Yeah. How explain to me how someone that has made between a 100 to 175,000 a year is now worth $400,000,000 today. Like, the math just doesn't make sense unless you're making 50 to 70% returns in the stock market based on insider information. I mean, that's there's no other way that that that you get to that significant amount of wealth. You know, the average person's, you know, after fees, which there's are tremendous fees in four zero one k's and and stock market, tremendous mutual fund fees, you know, the average person's you know, if you really do the math is making between 57%.
24:34
So those numbers are sort of harder to get to that that big number down the road. So I I you know? And I and I think that's, you know, a big thing that people have been saying about gold. The the downside have always been about gold is that it hasn't had the kind of returns or silver. But, you know, we've seen the last few years, it's actually outperformed a lot of the indexes in a lot of different ways.
25:00
You know, gold's been sitting kind of in a range the last few months, but silver's gone on a big run. Platinum's gone on a big run. So so I think the arguments against gold and silver have kinda gone away, but now people are sort of I I think a lot of people are just trying to figure out what the next steps are, what the smart move is, and, you know, they have to look at the next, you know, twelve to eighteen months to make that determination. But there's a lot happening, and and, you know, and then there's the BLS commissioner getting fired, which obviously was a big deal, and, I can dive into that a little bit more too.
25:34
Speaker 1: Well, dude, this is an interesting point. I was talking to my mom recently, and and, you know, obviously, she watches the show, and she follows a lot of the advice I give her. And, you know, a couple years ago, I said, mom, look. I highly recommend you pull some of your money out of your four zero one k and put it in physical silver. And and she trusted me.
25:52
And so I was talking to her recently, and and she was like, wow, Seth. I was just calculating. I have this many ounces. Like, what does that mean? You know, that she could have gone and looked it up, but she just asked me these questions.
26:00
And I said, well, mom, you know, silver's at $38 an ounce now. And I was like, you bought all that silver, like, around $22 an ounce? And and so it's like, wow. Actually, for me even too, like, lot of the precious metals I bought, I bought a lot of my gold at 2,000 an ounce, 1,800 an ounce, 2,100 an ounce, a lot of the silver at, you know, 17 to 23 or so. And so it's like, yeah.
26:22
It's like, yeah. I was like, mom, like, you almost doubled your money in that in the past couple of years. What would have happened if that money was sitting in your four zero one k? So I I wanna jump into into the jobs reports, but I just wanna play a quick I've got a two minute video here that I wanna I wanna pull up and just play for us because, again, getting back to, I think, just, like, the gaslighting about inflation and how everything is becoming is less expensive. Again, that's my experience.
26:47
I'm not seeing that anywhere. I'm not seeing anything that we're buying, whether it is tech items, clothing for the kids. We we got a car recently. And it doesn't matter what it is. It seems like everything is astronomically more expensive than it was before.
27:04
Yet, I see these tweets coming out from the White House or for Trump saying that, you know, costs are hitting all time lows, and I'm thinking, am I living in a different world than than these people? So I'll play this this short video, and then, we can hit on that and then get in a little bit about jobs reports. So this is, it's about two minutes long, but this is really helpful, actually.
27:23
Speaker 3: So, guys, this is an absolutely crazy story about a man who had the Walmart app on his phone. And what he did is there's an option within the app to be able to go in and hit reorder all. So he had a cart order. This is way back from two years after the pandemic started for a $126 for all of his groceries. So just out of morbid curiosity, when he went back into the app, he looked at his own orders and thought, I'm just gonna do reorder all just to see what the difference will be.
27:57
Three times the price in two years. They are gaslighting us, guys. They are gaslighting us that things are so hard for companies after the pandemic. Companies are making money hand over fist. They can afford to pay you more.
28:17
They can afford to hire more people. This is just corporate greed. The cost of getting meat, getting vegetables out of the ground, farming things up, shipping them has not gone threefold in two years. These companies are just making extra money off of all of it. And so when you go to the grocery store, and I've had this sentiment so many times myself in the last couple years, and I'm like, why is this so expensive?
28:44
I didn't even get that much food. This should be like $40, and it's like a $120, and you're like, I didn't even get anything. I got like a half a week's worth of food. This is what's going on. This is supposed to be by the way, Walmart is the choice for the cheapest retailer to be able to go pick stuff up.
29:03
Now I found out Aldi is even cheaper. But for most people that don't have Aldi near them, Walmart is their choice, is the cheapest way to get groceries and home goods, and this is what you have to look forward to. Three times
29:14
Speaker 1: So, again, like and and that's that's been my experience. It's just so Absolutely. As I'm looking around, was thinking and and looking at just, you know, energy costs and and okay. So, yeah, gas is hovering at, you know, $3 a gallon. It's like, okay.
29:27
Well, yeah, it could be higher, but I also remember when it was $2 a gallon. But it also looks like like so when I see these numbers coming out and they're saying, oh, inflation's hovering at 2%, I I have a hard time making sense of it. And then you get into the jobs market stuff. You look at that, and you're seeing that's a whole other, you know, giant can of worms, which let let's just touch on that really quickly, because I know you've got a few different, you know, points of information surrounding the jobs market. The system isn't broken.
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30:56
Speaker 2: Yeah. I think this situation really, rubbed me wrong in just in terms of when I was talking to people about, president Trump, firing Erica, McAnthor as the BLS commissioner. And
31:13
Speaker 1: So BLS is Bureau of Labor and Statistics. Right? Yeah. Okay.
31:16
Speaker 2: Yes. Correct. Yeah. And, you know, some of the people I'm talking to, they I don't know. There's this there's this idea that if you're in a high government position, that you're sort of untouchable in a way.
31:31
And and that's what this conversation was. Like, she had been there a long time. I know she got recently nominated by president Biden. She she had been in the agency for for twenty years. And so because she'd been there, like, the conversation I was having with people was that that he only fired her because of political reasons.
31:53
And maybe maybe in his eyes, maybe maybe that is or is not true. I I don't really know. I don't really know. But if you look at the facts, if anybody in their private sector job screwed up as bad as she did in terms of the job report, they would get fired. I mean, they they they had to pull down the job report numbers May and June of this year.
32:23
They corrected them down by 258,000 jobs. And it was the worst correction since 2009. And and then you start to think, well, let's just dive into the idea that it could be political. If you go back a year ago and you look at a chart and you look at reported jobs to the actual number that comes out where they verify it, last year when Biden was in office, it was actually lower job reported and then higher job report. So, actually, they were reporting a lower number and, like, ended up coming out higher.
33:03
This year since January, every report has been the opposite. So if you look at it, this is just facts. This isn't this isn't political. So and the reason that that it's frustrating for me looking at these things is because this report, it it has massive ramifications for you and I. Because if you or I are basing some of our stock decisions based on the strength of the jobs report and the economy, which whether you're consciously doing it or unconsciously, I believe you are doing it.
33:42
If you knew since January that jobs were significantly lower than what's reported, you may be more nervous about investing a lot of your money in the stock market. Companies are basing their their projections based on this. Travel companies. Many companies are looking at this to determine how much they should invest in different areas, how much they should hire. So when you have the report come out every month this year that it's the reported number and then the actual number lower and then the massive correction in May or June, it does have an effect on us because we have money in the stock market.
34:22
And and when they did the correction down, the stock market dropped significantly that day. And we'll see what happens over the next few months if it starts to have more of a trickle effect for the stock market. The other thing that is important about this is that how they've been doing the BLS and the reporting is antiquated. And I I think part of the reason that she should have been that she should have been fired is because there's much more sophisticated tools today than calling people, which is partly the way they do it. They actually call people and ask them they have a job.
35:00
Then they also take some of the data. They call and ask people, 60 to 80,000 people. They ask them, like, who's gonna say they don't have a job, Seth? Like, if you call them, of course. You know?
35:10
If their wife's in the background, like, hey. They're calling. Yeah. I got a job, honey. You know, they're obviously, the it's silly.
35:17
It's a silly way to do it. The other way they do it is they take payroll data, and they take some tax reporting data. But to have four or five months in a row where they're wrong, they should have tailored the numbers down. If in January they were already wrong, they should have tailored the numbers down in May and June. And then the the next thing to think about too is that Jerome Powell is also basing his financial structure of what he's gonna do as the Fed chair based on this data.
35:46
Right? His two mandates are low inflation and jobs. So he thought, I believe, he thought jobs were doing better than they were. And so he's getting this data too, and he's going, holy cow. Now I I all the data I was getting was wrong.
36:05
So when I was talking to my people about this, I I don't think they realize how important it is to have correct data as a government, as a company. And so now Jerome Powell is thinking, wait a minute. My policy has been wrong. I should have lowered rates. So these this this BLS commissioner situation, him firing, I think it's more than political.
36:28
It's just we need to get correct data in there. And and, also, they should have some measures in place to be more conservative so that people are protected. Because now there's a lot of people right now that are sitting in the stock market going, wait a minute. I didn't know this. I didn't know the job report was revised by 258,000 jobs.
36:48
That would make me question some of the stocks that I own. Some of the stocks are gonna be affected by the jobs report. So these are all the things that I I think we're missing. So when I saw this, I I had to dive in and and really break it down in a simpler way, but it does these reports do affect you and I, and it's important for people to know that.
37:10
Speaker 1: And so kind of wrapping up, I know you're a big believer, as you even talked about before. You're in portfolio in precious metals. I know that a big part of what your company does, which and I think you're the best in the industry at doing this, is helping people creatively move money out of four zero one k's, IRA's, etcetera, and strategically put them into precious metals with while avoiding a lot of the fees and everything. So at this kind of stage in history, why would you why would you recommend someone say, hey. You know, probably not a bad idea.
37:40
Take some of your four zero one k out out of the stock market and put it into something tangible like gold or silver.
37:46
Speaker 2: I'll give you three reasons, and it's really simple. Number one, of what I discussed that the this job report is gonna have effect on the stock market. Number two, Jerome Powell, the the likelihood of him lowering rates in September went from 60% on you know, there's a lot of these websites, Polymarket, all that you can bet. It's 97 percent right now. So they're the likelihood of him reducing rates at least 25 basis points.
38:13
25% 97%, at least 25 basis points. And then if you go farther down, they even say another rate cut. So if you look at jobs reports wrong, rate cuts coming, and then the third thing that I think is that they're gonna try to open up the money supply because unemployment is going it's it's gonna get worse. And they know that one of the ways that they need to fix it is to get more money out there for corporations to spend and grow.
38:43
Speaker 1: Which weakens the dollar further. Right?
38:45
Speaker 2: Which weakens the dollar. So I think those three reasons together will expand the money supply. We'll go we will go into more debt, unfortunately, but it this is the how they're gonna try to stimulate the economy is through through cheaper money. And if you look at, you know, 2009 is a great example. They did the exact same thing.
39:06
And if you look at 02/2011, if you look at the chart, you can see how gold and silver performed. And so I think that those the metals will do something similar. Then also the fourth thing that I forgot to mention is that there's gonna be a new Fed chair in May, if not sooner, and I believe that new person will be much more aggressive. Whether it's Scott Bessett, which they've thrown around, I think they're gonna be much more aggressive in their policy, which will it's it's a growth Trump's whole philosophy is we need to kinda spend and grow our way out of this, which will weaken the dollar and and make tangible investments more valuable. And I think that those if you look at all those things scenario, those together, it presents a good good argument for for precious metals, which we do help people.
39:51
We have tons of guides, good information. I have my book, which we can send people, talks about silver. So yeah. So I think there's a good opportunity right now, but it's a great time to learn and get educated, and that's really what we focus on.
40:04
Speaker 1: Exactly. And that's this this is an area that I'm super, super fascinated. I always have my my 10 ounce bar sitting on the desk. It just has that reminder of this is real money. Right?
40:14
That that paper, it's not real money. It's fiat. It's fake. It's monopoly money at the end of the day. So we've got a website set up, goldwithseth.com.
40:22
Takes you you can get your free, wealth protection kit. You can learn more. Or the phone number, (877) 646-5347. And I'll put that information into the, show description as well, make it accessible. But, yeah.
40:35
And this is this is what I believe in. And and, like, again, to the point that I'm telling my own mom, mom, trust me. Just do this. And she's come back over and over again, plea and she said, Seth, thank you. Like, thank you so much.
40:45
So, Colin, thank you for giving us your time today. It's always great speaking to you. Take care, man. I hope you enjoyed that discussion with Colin, but I wanted to weigh in and, just give a few of my own thoughts. So he kinda towards the end there gave I think he said, like, his four points on why he thinks it's a good idea to have some of your assets coming out of, say, the stock market, your four zero one k, etcetera, and being put into precious metals, primarily gold and silver.
41:11
And he brought in he made some very good points, but I also wanna bring my own perspective on this because, look, I'm not someone that's, you know, doing market calculations. I'm like, oh, I I can make 3% over here, 4% over there. I mean, obviously, you know, like, we, like, we bought a new a new car. It's a 2024 model. And instead of getting, like, like, a seventy two month, kind of, you know, financing on it, we're paying, you know, 5%.
41:34
They had a special where, actually, we were able to get 48% with a 0% interest. Or sorry. Forty eight month with 0% interest. So I'm like, okay. That's great.
41:41
Like, I don't wanna pay the banks anything if I don't have to. Right? Because especially if you look at the rate of inflation, it's it's not free money, but it's it's kinda someone saying, look. I'm gonna give you all this money up front, and I'm not gonna take a penny from you. So I like that idea.
41:53
So, you know, I'm trying to calculate in those ways. But to me, when I look at precious metals and and the idea of it, like, fundamentally, it's about being off grid. It's about being outside of the system. Because my personal belief is that the next, say, three to five years, we're gonna see significant changes happening in this country in in the entire world. If you look at especially what's happening with this technocratic system that's being built and then, again, this is another thing that's really happening under Trump.
42:28
Right? Being objective here, the government has given massive contracts to big tech, Palantir, you know, Meta, continued. That really concerns me. Like, the investments into AI and data centers, all those things worry me. Because even if, say, Trump has the best of intentions, all it takes is for the next person to get in.
42:51
Let's just say that for some reason, you know, Gavin Newsom becomes the the president after Trump. I have no idea how that would happen. Let's just say, hypothetically, it would. Okay? And he steps into the into this position, and all of a sudden, he realizes that, wow.
43:04
You know, maybe Trump had the best of intentions with, you know, setting up this digital security state with Palantir. And and so, really, I mean, a lot of ways, digital ID, social credit scores. I mean, this stuff is all in the works. It's already it's already there. It's already built.
43:18
We just don't see it, but it's already behind behind the screens as this this system exists. Even if Trump does it because he wants to help cut down illegal immigration and catch the criminals faster, whatever, the next person getting in can take those same exact tools and absolutely turn them against us. And before you know it, America could be China from the perspective of a a digital social credit system where, say, you go online on Twitter and you criticize Gavin Newsom. Well, that's gonna dock your social credit score that Palantir is tracking for you. All of this concerns me.
43:52
And and, ultimately, this is why a lot of what I'm doing both with man in America, with the book prep like Noah, with the community that we're building, it's about helping people to off grid their systems. It's the same reason I don't have a smart meter. It's the same reason why I'm trying my best to build out solar. It's the same reason why I've got a well, and I would refuse to be on public water. Because I want control of my own systems.
44:17
I want to have my assets. I wanna have the the food, you know, stored so that if there's a a one year period where the grocery stores aren't working properly or you're required you know, say there's a lockdown again, but now they're gonna make you wear a mask and show your digital ID to get into the stores to buy your groceries, I wanna make sure that I'm outside of that system. And that's exactly why I believe so much in precious metals. It's not about looking at it and speculating. I'm not a speculator.
44:46
I'm not, you know, you know, about going out and buying silver saying, oh, if I buy silver at 30, if it hits $40 an ounce, I'm gonna sell it, and I can make, you know, a 25% return or whatever that is. I mean, obviously, it's great. And as I mentioned in the interview, I you know, lot of silver I bought, I bought it for, you know, $17.18, $22 an ounce. And so it's doubled since then. Like, okay.
45:04
That's great. But I'm not gonna go spend it. I'm actually just gonna let it sit where it's hidden. Right? And and just let it sit there because to me, it's an insurance policy, and that's how I look at it.
45:14
And that's why I don't have any money in the stock market because well, for one, I believe the stock market is an absolute scam. I think it's just a way that the bankers and the elites have created this system to get us to take our hard earned assets and put it into a system where we actually have no control. You and I have no control over the stock market, and that's what they've done over and over again. Right? They take they they, they use these clever ways to convince us to take our hard earned money and put it into these systems, these fake fiat systems.
45:44
I I look at the stock market in many ways as being a fake fiat system that is absolutely controlled by the elites and by the globalist bankers. They want us to put all of our assets into these things that we have no control over So that way, you know, so one day, we wake up and it's like, oh my goodness. It's Black Monday or whatever it is. And, oh gosh, the market's down 20%, which we saw this happen, and all of sudden, you you can't get through to your broker. Right?
46:07
Or say, look at, like, the Robinhood app and these different apps you use for trading of GameStop or whatever it is. We're seeing these situations where when things start to go a little bit haywire, the first thing they do is they freeze your ability to move your assets. And to me, that is a massive risk. If I was sitting there and I had my entire savings like, you know, I I watched my dad lose his entire $4.00 1 k during the .com crash. I was a little kid.
46:33
I remember my parents actually because, you know, he worked for Lucent Technologies at that time. And I remember my parents arguing over it and seeing it happen, and I think it was a Lucent stock had gone from maybe a $100 a share down to and really nothing. I think that he ended up selling all of his stocks at, like, $15 a share. But I witnessed that happen. I which I watched my my mom, you know, telling my dad, Ed, just sell.
46:54
Just get out. Just take the loss and get out. And he was like, well, no. No. It's a big company.
46:59
It's gonna recover, but it didn't. And I saw it wipe out almost his entire four zero one k. And so maybe these are lessons that I learned when I was younger that I was maybe destined to not repeat because I had these memories. And that's and that's how I look at it even with the bank. You look at what happened at Silicon Valley Bank.
47:17
You look at the fact that everyone thinks you walk in the bank and says, oh, FDIC insured. FDIC is gonna insure up to $250,000. Well, I mean, the last time I calculated, this is maybe a year ago, I did a show on it. I calculated. I think that the FDIC, maybe they have enough funds to cover I think by now, it's, like, less than 1% of the total deposits.
47:39
So here you are telling me that, oh, my bank is FDIC insured. So if I put a quarter million dollars in the bank and that bank goes under, the government's gonna give me a quarter million dollars, so it's protected. Well, how does that work, though, if the total number of deposits, the the value of deposits that the the government only has less than 1% to cover that? What it means is that if the banks if there's a banking crisis, which, again, going back to what happened to Silicon Valley Bank, we saw these signs of that, and I don't think it's over either. I think we're gonna see another round of these bank crisis is happening within the next one to two years.
48:14
I mean, think just the reality of it. What happens then when to ninety nine percent of people, right? When the government says, Well, yeah, we told you it was FDIC insured, but we're sorry because we couldn't cover the funds, and this is a banking crisis. But thank goodness, though, we have this central bank digital currency that's gonna help save the day, and we'll put you on a universal basic income. I'm like, no way I'm opting out of that.
48:39
And this is, again, you know, call me a tinfoil hat conspiracy theorist prepper doomsdayer, but I don't trust my hard earned assets, the things I've poured my blood and my sweat and my tears into. I don't trust those in some government run institution. Some institution controlled by the bankers and the elites, which is really the entire banking system, the Federal Reserve corrupted fiat currency banking system, and the stock market, which, in my opinion, is no better. It's the same thing. Do you think that these people can't just all of a sudden crash the stock market when they're ready?
49:12
Absolutely. If you if you look back in history, if you think that the Great Depression was just some random occurrence that was tied to different things, no. The great the Great Depression our country went through was absolutely an agenda driven by the bankers. At that point, one of the one of the big agendas behind the Great Depression was to collapse all the independent banks. So they could use that to shut down all these small independent banks that were all over America.
49:36
I think there's over 10,000 different banks at that time. And it was this really convenient way to collapse all those banks, bring in a much more centralized banking system. All the while, all the elites and the bankers at that point, they knew the crash was coming. They pulled out, and they come in after the crash, and they're buying everything for pennies on the dollar. And so this is if you ask me, Seth, you know, why, you know, why would you recommend your own mom to buy silver as opposed to keep your money in the four zero one k?
50:03
This is it. It's not because I'm speculating and saying, hey, mom. You're gonna double your money in three years. No. That's not that it at all.
50:08
It's because if that crash happens, which it is, it is inevitable. There's going to be a massive correction. Is it gonna be this year? Is it gonna be next year? Is it gonna be in three years?
50:20
No one knows. Right? No. I mean, well, I guess some people know because the ones that control it know, But none of us know. And that's the thing is that you don't know.
50:28
But the thing is that when it happens, especially now that we've seen that when these these corrections happen, that overnight, all of a sudden, you can't get ahold of your your TD account, you know, your trader. You can't actually even pull your money out, because they don't want that. They don't want everyone to pull their money out. Like, if the stocks say drop 20%, they're not gonna let the entire public pull all their money out and put it into cash or gold. No.
50:50
They want you to fall with it. Because when that collapse or when that crash happens, it will be engineered. It will be a decision by the elites, in my humble opinion, and it will be a strategic thing to reset, to take the monopoly board, throw everything off, and come in and buy up everything. And this is why I look at precious metals as an insurance policy. Because not to mention, other thing too is like, okay.
51:13
What are the elites doing? What are the central bankers doing? They're not dumping all their money into Nvidia. No. They're buying precious metals.
51:21
The elite families, they're buying precious metals. They're putting it away. If you look at the trends, you look at who's buying, the people are the the people at the top, the power brokers at the top of the society are putting their money into land, precious metals. They're building bunkers. It's almost like they know something we don't know.
51:39
So, anyway, so this is that's my own perspective, which in my opinion, is the single most important. Obviously, Colin made really good points about job market, stock, etcetera. But to me, it's actually like, I wanna be at a place where ten years from now, I've held onto the wealth that I've worked so hard to accumulate. Now it's not that much, but whatever I have, I wanna make sure that I can hold onto it and get through to their side. And the other thing too is that the people that the small portion of our population that actually owns physical precious metals, those are the ones that on the other side of this, they're gonna have so much more buying power.
52:15
It always happens like this. When all the fake stuff crashes, when all the the fiat currency, hyperinflation, when the real estate market, when the stock market, when all those fake and manipulated values are corrected, what you see happen is that the real the value of the real things in this world are also corrected. And silver and gold and so many things have been artificially held down for so long for that's a whole different agenda. So when those things happen, when that change happens, there's a reason why these elite banking families are buying so much in precious metals. Because they know on the other side, it's he who owns the gold that makes the rules.
52:56
It's how it's always been since the beginning of time. He who has the gold makes the rules. So that is why I personally am a big believer in precious metals. So, again, if you're interested in buying, moving some of your four zero one k, if you if you know someone that's good that you can trust, great. I'm not gonna tell you to stop using them.
53:14
However, if you're looking for a company that you can trust, I've known Colin for, I think, about four and a half years now. Fantastic guy. Good company. If you're looking for a company you can trust, it's Noble Gold, especially when it comes to dealing with four zero one k's and that kind of stuff. So goldwithseth.com.
53:31
You can learn more. Get a free guide. Fill out this little information kit. You can get ahold of them, or just give them a call. All American based.
53:39
You're right here in the good old country of America. (877) 646-5347. Honestly, this is not financial advice, but how these things work is that I'd rather be one year, five years early than one day late. Because when that happens, history has shown us time and time again. Go watch It's A Wonderful Life.
54:02
Go look at what happens when all those people walk into the bank with their bank their prom you know, promissory notes saying, look, I want my money. And when he has to say, I don't have your money to give back to you, it's one day that makes a difference. That's it. So again, goldwithseth.com. Check it out.
54:19
Thank you. Take care. God bless. See you next show.