Latest / The Bill Handel Show / Plagues of MacArthur Park | The Surge in Facelifts

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Plagues of MacArthur Park | The Surge in Facelifts · The Bill Handel Show

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  Speaker 1: You're listening to bill Handle on demand from kf I
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  Speaker 1: AM six forty.
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  Speaker 2: You are listening to the bill Handle show.
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  Speaker 1: Cob Cob crok col Coke Crow co Cob Cook co Co.
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  Speaker 3: I am a nice man walking cyclepath talking, King of
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  Speaker 3: AM six forty bill Handle.
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  Speaker 4: Here.
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  Speaker 3: It is a Monday morning, October twenty seven. World Series
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  Speaker 3: Game three tonight, and we'll see what happens. One to
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  Speaker 3: one tied at this point. And air traffic controllers there's
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  Speaker 3: such a shortage that it's getting shorter er unfortunately, so uh,
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  Speaker 3: flying is getting more and more difficult. Also, the President
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  Speaker 3: is in Japan right now, and it looks like the
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  Speaker 3: US or he and President Jijing Ping the Ping my
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  Speaker 3: have looks like they cut a deal for tariffs tariff
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  Speaker 3: releaf and it's not gonna be one hundred percent of
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  Speaker 3: tariff starting the first on Chinese goods, and the rare
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  Speaker 3: earths are now back on.
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  Speaker 2: The table to be shipped the United States. So it's
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  Speaker 2: looking pretty good.
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  Speaker 3: Have you ever been to MacArthur Park in downtown La Kono.
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  Speaker 2: Is shaking his head.
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  Speaker 3: No, Well, let me tell you what's fun about MacArthur
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  Speaker 3: Park are there's more drug activity there than you could
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  Speaker 3: possibly imagine a fun place. And this is a fairly
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  Speaker 3: little known secret, is that more fake green cards are
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  Speaker 3: sold at MacArthur Park than you could ever imagine. Matter
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  Speaker 3: of fact, our housekeeper Maria has had a fake green
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  Speaker 3: card for many, many years. Oh do the authorities listen
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  Speaker 3: to this show? M okay in the meantime and they're
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  Speaker 3: not even green anymore. You know that green cards. By
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  Speaker 3: the way, Marie's citizen. Just in case you want to know,
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  Speaker 3: there is more crime around MacArthur Park than you can imagine. Now,
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  Speaker 3: MacArthur Park is an interesting place because it does two things.
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  Speaker 3: Number one, it provides homeless people a place to stay
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  Speaker 3: and to live right there on the grass. It also
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  Speaker 3: provides a great place to buy drugs. You have a
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  Speaker 3: large selection of drugs at reasonable prices around MacArthur Park.
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  Speaker 3: And by the way, the cops are there, and this
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  Speaker 3: just happens right in front of the cops. You also
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  Speaker 3: have street vendors cooking up their aware on propane stoves,
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  Speaker 3: and you have people just selling goods out of the
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  Speaker 3: trunks of their cars. So it's a vibrant place for
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  Speaker 3: Spanish speaking and I'm going to guess many illegal undocumented people.
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  Speaker 2: I'm surprised that MacArthur Park hasn't been swept up in
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  Speaker 2: these rays.
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  Speaker 1: You don't remember the tanks being out there and stuff
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  Speaker 1: like that.
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  Speaker 3: I remember the demonstrations, but I don't remember coming in.
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  Speaker 5: They had military vehicles out there and baths showed up
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  Speaker 5: and she was pissed.
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  Speaker 3: Hmmm, I don't remember that. But okay, I'm surprised you
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  Speaker 3: don't come in there miles from my house. Ah, so
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  Speaker 3: is that where you got your green card?
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  Speaker 6: Uh?
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  Speaker 1: Non speak English?
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  Speaker 3: Okay, nicely done, by the way. That is about as
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  Speaker 3: racist as you can possibly get.
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  Speaker 2: Thank you.
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  Speaker 1: Hey, I'm Mexican. I can do it.
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  Speaker 2: You get a pass anyway.
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  Speaker 3: What's happening is they're trying to figure out this is
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  Speaker 3: not only a place for families, and we're talking about
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  Speaker 3: English as the second language families Uh and uh Hispanic
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  Speaker 3: for the most part, Hispanic people and lower socioeconomic levels.
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  Speaker 3: So this has become a central place for them to
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  Speaker 3: hang out, for them to deal with neighbors, et cetera.
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  Speaker 3: I mean, it's just it's sort of town a town
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  Speaker 3: center for these folks, but at the same time there's
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  Speaker 3: a ton of crime. Matter of fact, what's really fun
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  Speaker 3: is every few years when they drain MacArthur, the park,
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  Speaker 3: the lake at MacArthur Park, MacArthur Lake, it's wonderful to
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  Speaker 3: see because they're always digging up a few bodies and
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  Speaker 3: it's just great fun to see that. So here's what
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  Speaker 3: the city Council's proposed, a fence all the way around
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  Speaker 3: the park two point three million dollars. A fence that
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  Speaker 3: will theoretically have keep the bad guys out, we'll keep
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  Speaker 3: the good guys in.
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  Speaker 2: Police will still be there.
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  Speaker 3: And there's a lot of contention here because right now
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  Speaker 3: it's accessible to anybody. And then the people that advocate
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  Speaker 3: the fence are saying, we'll have places where people can
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  Speaker 3: go in, there'll be gates, there'll be some kind of control.
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  Speaker 2: Businesses.
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  Speaker 3: I have a hard time doing business around MacArthur Park.
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  Speaker 3: I mean, I just don't get it. Isn't langers right
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  Speaker 3: there at MacArthur.
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  Speaker 1: Park, right across the street, and I don't.
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  Speaker 3: And so it's an iconic Jewish deli that's been there
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  Speaker 3: for a zillion years and the food is wonderful.
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  Speaker 1: Number nineteen straw me, I'm right.
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  Speaker 2: Yeah, but how do you where do people park? I
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  Speaker 2: haven't been.
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  Speaker 3: I've been to Langers I think twice in my life,
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  Speaker 3: and I was a teenager at the time. It's been
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  Speaker 3: around that that long. I mean, where do you park?
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  Speaker 3: Where do you walk?
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  Speaker 2: All right?
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  Speaker 3: To get to Langers? Aren't you stepping over homeless people?
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  Speaker 1: Yeah? Pretty much.
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  Speaker 5: I passed by MacArthur Park all the time and it's horrendous.
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  Speaker 5: It is an absolute blight, and it's it's horrible what
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  Speaker 5: they've done to it, because it's really a beautiful place
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  Speaker 5: and it's in a really neat location.
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  Speaker 1: But the West Lake District is just horrific.
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  Speaker 2: And so the fence, you think of that that's going
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  Speaker 2: to help Neil.
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  Speaker 5: There are many fenced in parks in Los Angeles and
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  Speaker 5: and I think it will. I mean, do you remember
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  Speaker 5: the temporary fencing they put up at Echo Park. I do,
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  Speaker 5: and that helped a lot. It kept the homeless from
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  Speaker 5: sleeping there. It was controversial to some, but the fact
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  Speaker 5: is it worked, and that was our park for a
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  Speaker 5: long time.
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  Speaker 1: We would walk there all the time.
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  Speaker 3: And here is what's fun about Echo Park and MacArthur Park.
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  Speaker 3: When they dredged the Lakes, which lake produces the most
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  Speaker 3: dead bodies.
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  Speaker 5: I will tell you that absolutely. Echo Park is a
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  Speaker 5: gem in Los Angeles. They have the swan pedal boats.
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  Speaker 5: It's gorgeous there. They just need to keep the riff
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  Speaker 5: raf out.
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  Speaker 6: Well, that was the park that was completely taken over
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  Speaker 6: a few years ago, remember, and then they put the
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  Speaker 6: Echo Park and then they put the fence all the
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  Speaker 6: way around and they cleared it out and took away
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  Speaker 6: to tons and tons of trash. And like Neil just
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  Speaker 6: said that they're making efforts to keep the park cleared out.
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  Speaker 2: Well, we'll see what happens.
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  Speaker 3: There's a lot of contention on both sides that they're
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  Speaker 3: going to be taking away a vibrant part of the city.
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  Speaker 3: We'd illegal undocumented people and the street vendors and the
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  Speaker 3: drug dealers, and I kind of like the whole thing.
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  Speaker 3: It's just a fun place to go visit and whenever
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  Speaker 3: I feel like I want to consider killing myself. Neil,
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  Speaker 3: you definitely need this. Actually, frankly, I need this more
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  Speaker 3: than most people do, and that is facelifts for men.
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  Speaker 2: Facelifts for men should start doing commercials for those.
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  Speaker 3: So where do you think what industry would you think
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  Speaker 3: what financial sector would you think the most facelifts men
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  Speaker 3: are getting in what what.
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  Speaker 1: Area you'd think entertainment?
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  Speaker 2: Nope, nope, nope, it's tech.
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  Speaker 3: It's actually the high tech financial tech people investors. Why well,
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  Speaker 3: there was a twenty twenty four talk a guy named
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  Speaker 3: Keith robbles Is was asking advice from Peter Thiel, one
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  Speaker 3: of the big big investors in the country, and the
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  Speaker 3: advice he gaves him you can't hire anyone over thirty.
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  Speaker 3: So what's happening is guys in tech are spending thousands
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  Speaker 3: of dollars on procedures like many face lifts, necklifts, I
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  Speaker 3: let I lid lifts to basically just look younger. And
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  Speaker 3: there are two reasons why it's these guys. Reason number
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  Speaker 3: one is they've got the money. You know, people involved
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  Speaker 3: in high tech and investment world have the money. For example,
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  Speaker 3: there's a Beverly Hills plastic surgeon, doctor Ben t Lie,
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  Speaker 3: charges one hundred and twenty five to one hundred and
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  Speaker 3: fifty thousand dollars for a face and necklift, and he's
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  Speaker 3: seen demand grow fivefold over the past five years, one
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  Speaker 3: hundred percent a year, can you imagine. And there's a
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  Speaker 3: doctor Andrew Barnett says his request for facelifts for men
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  Speaker 3: in the tech world have jumped twenty five percent from
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  Speaker 3: COVID jewels, COVID levels eye surgeries themselves. I LID surgeries
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  Speaker 3: up fifty percent. Now, there's two reasons, I said, Number one,
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  Speaker 3: they have the money. The other reason is that a
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  Speaker 3: lot of people are doing remote work. Used to come
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  Speaker 3: into the office, right And if you have.
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  Speaker 2: The opportunity to do remote remote work.
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  Speaker 3: For example, let's say you Neil and I or Will
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  Speaker 3: or whoever on the morning show. We all have home studios,
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  Speaker 3: of course, but Neil and I have home studios and
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  Speaker 3: you're on a monitor every day. There are cameras and
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  Speaker 3: I'm looking at all of you and you're all looking
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  Speaker 3: at me on the monitor. Well, I could turn off
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  Speaker 3: the monitor for a couple of weeks. You guys will
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  Speaker 3: be thrilled, thank you very much. But I could get
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  Speaker 3: a facelift and you wouldn't know it until I come
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  Speaker 3: back a couple of weeks later, three weeks later.
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  Speaker 2: And that's what's going on with these people.
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  Speaker 3: And so those are the two big reasons, and it
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  Speaker 3: is so important for men. Now it's almost pass that
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  Speaker 3: men get facelifts as much as women do.
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  Speaker 2: Have I considered facelift?
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  Speaker 3: Well, yeah, yeah, if you think about it, if you
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  Speaker 3: look at me, and this is hereditary my day. I
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  Speaker 3: gave this to me. And I have this very large
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  Speaker 3: wattle under my neck. I have a sort of a
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  Speaker 3: turkey wattle which I read. Yeah, I know, well, I
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  Speaker 3: paint red. I paint it read every Thanksgiving, just to
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  Speaker 3: make sure that no one notices it. The point is
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  Speaker 3: what people say, is it used to be you look refreshed,
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  Speaker 3: you look something about you, you look younger. Now it's
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  Speaker 3: not a bad facelift. Now it is so common that
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  Speaker 3: people just look at you. You go facelift. How much
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  Speaker 3: did you pay for that?
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  Speaker 5: Sylvester Stallone, I don't know if he's had a face
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  Speaker 5: lift or not, but man, it looks odd.
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  Speaker 2: I don't. Well, that's what facelifts, that's what that's that's.
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  Speaker 3: The difference between a good surgeon and a not so
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  Speaker 3: good surgeon or someone who uh.
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  Speaker 2: And we see this in women not so much.
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  Speaker 3: And man, although I have tell you there are people
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  Speaker 3: out there David Copperfield.
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  Speaker 2: Have you seen him?
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  Speaker 1: Oh seriously, I have not.
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  Speaker 3: Oh, man, take a look at a picture of David Copperfield.
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  Speaker 5: If it looks like someone's pulling silly putty over their knee, like, yeah.
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  Speaker 3: It's you can it's unfortunately you can tell that stretched
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  Speaker 3: out look, and it is, you know, just get old,
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  Speaker 3: Just get old. Relax. You know, you're who you are.
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  Speaker 3: Your eyelids get puffy, so be it, and so your
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  Speaker 3: face drools a little bit, it goes down a little bit,
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  Speaker 3: So it's not you know what, it's not bad to
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  Speaker 3: look like a sharpei.
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  Speaker 2: It is okay. In life. It is natural to have
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  Speaker 2: your like a beagle.
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  Speaker 3: You know, you have the jowls that just drop down,
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  Speaker 3: and that's who we are, and you have to have
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  Speaker 3: this artificial young look. That's Derey Gore. Now, especially in
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  Speaker 3: the world of tech, because somehow, well maybe it's because
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  Speaker 3: twelve year olds are now billionaires when they form these
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  Speaker 3: these new tech companies. It used to be you'd be
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  Speaker 3: in your fifties or sixties before you become a billionaire.
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  Speaker 2: Now you do it before your teenage years.
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  Speaker 3: So maybe that's the reason people want to look that
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  Speaker 3: much younger. Now I'm okay with the looking older. I
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  Speaker 3: don't care. I don't care. Neil, you have to be
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  Speaker 3: okay with it because you have no choice.
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  Speaker 1: Well, I don't care.
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  Speaker 5: I'd like to be thinner, but I don't care about
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  Speaker 5: you know, I'm already married. I just she loves me
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  Speaker 5: for who I am.
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  Speaker 3: Wow, yeah, you beauty and you're beautiful on your planet,
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  Speaker 3: I know.
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  Speaker 1: Yeah on the inside.
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  Speaker 7: You know.
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  Speaker 3: You know, my mother used to say when I when
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  Speaker 3: I was single, my mother was desperate to have me
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  Speaker 3: connect with someone because I didn't get married until I
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  Speaker 3: was in my thirties. And my mother always, uh, hook
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  Speaker 3: me up with someone. Always have a friend of hers
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  Speaker 3: who had who had a daughter, and she was a bill.
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  Speaker 3: I want you to beat whatever, you know, my friend's daughter.
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  Speaker 3: And she would say, and she has a beautiful face.
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  Speaker 2: Okay, there it is.
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  Speaker 1: Epism what I'm a face guy.
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  Speaker 2: Yeah, you know, you know, I.
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  Speaker 3: Don't mind three hundred pou but I do mind three
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  Speaker 3: hundred pounds on top of me having So that's not
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  Speaker 3: going to happen.
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  Speaker 5: NA bodies changed, But a face there's something about it
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  Speaker 5: that even if it grows old, that it still has
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  Speaker 5: its character.
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  Speaker 1: And I'm a face guy.
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  Speaker 3: Okay, we're done, like you're screwed completely, We're done. We're done,
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  Speaker 3: finished now I have talked a whole lot about gold.
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  Speaker 3: As you know, I do commercials for Lear Gold, and
• 14:27
  Speaker 3: what I want to do is introduce to you Kevin Demerit,
• 14:29
  Speaker 3: who is a founder of Lear Capital. Now quick disclaimer here,
• 14:33
  Speaker 3: all right, I do commercials for them, so know that
• 14:37
  Speaker 3: before I start the interview, and this will not be
• 14:41
  Speaker 3: a commercial. I'm bringing Kevin aboard because of his knowledge,
• 14:46
  Speaker 3: vast knowledge of the gold market.
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  Speaker 2: He's been doing this for.
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  Speaker 3: Decades and I have a lot of questions to ask
• 14:54
  Speaker 3: about what is going on with gold right now.
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  Speaker 2: So Kevin, thanks for joining us. Always appreciate.
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  Speaker 7: Eric, thanks for having me. Bill.
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  Speaker 2: Oh sure, okay.
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  Speaker 3: Question number one about gold, and that is stocks go down,
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  Speaker 3: gold goes up. Stocks are in the stratosphere. Gold is
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  Speaker 3: in the stratosphere. What is going on?
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  Speaker 7: Well, that's a that's a great question.
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  Speaker 4: And you know, it used to be true that the
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  Speaker 4: gold market would offset, you know, what the stock market
• 15:26
  Speaker 4: was doing, So if the stock market.
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  Speaker 7: Was falling, gold would be going the other way. And
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  Speaker 7: that was decades ago. But we're in a.
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  Speaker 4: Completely different cycle right now. The stock market might look
• 15:36
  Speaker 4: strong on the surface, but under the hood, there's record
• 15:38
  Speaker 4: debt from the government side, there's a little bit of
• 15:41
  Speaker 4: consumer stress, there's geopolitical tensions, and I think it kind
• 15:44
  Speaker 4: of looks a little bit like a bubble we saw
• 15:46
  Speaker 4: back in you know, two thousand with dot coms from
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  Speaker 4: the AI side. So today, I don't think gold's reacting
• 15:52
  Speaker 4: to just recession or booms. It's reacting to uncertainty and
• 15:55
  Speaker 4: risk of market over valuations, record government money printing, and
• 15:59
  Speaker 4: a dollar that's really been under pressure and falling since
• 16:02
  Speaker 4: two thousand. It's down about twenty seven percent. So even
• 16:05
  Speaker 4: when the economy looks good, investors are still hedging and
• 16:07
  Speaker 4: gold is reflecting that reality.
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  Speaker 3: No, when you talk about the economy and looking at realistically,
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  Speaker 3: if the dollar is down twenty seven percent over the
• 16:16
  Speaker 3: past few years, that tells us that there are big holes,
• 16:22
  Speaker 3: or at least there's a lot of softness in the economy.
• 16:25
  Speaker 3: I'm looking at the stock market numbers right now. The
• 16:30
  Speaker 3: doll is up two hundred and fifty points, is hitting
• 16:32
  Speaker 3: another record, and yet at the same time gold is
• 16:36
  Speaker 3: doing great. Are people just are they throwing away the
• 16:41
  Speaker 3: old formula where it just doesn't exist the way it
• 16:43
  Speaker 3: used to.
• 16:46
  Speaker 7: Well, I don't know if they're throwing away the formula.
• 16:48
  Speaker 4: I think they're just more aware of what the formula is.
• 16:51
  Speaker 4: You know, back in two thousand when you had the
• 16:53
  Speaker 4: dot com crash, you know, people are just writing business
• 16:57
  Speaker 4: plans on the backs of napkins, and then you know,
• 16:59
  Speaker 4: here as a.
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  Speaker 7: Stock worth a billion dollars. This time around, there.
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  Speaker 4: Being a little bit more conservative saying, hey, yes, the
• 17:05
  Speaker 4: AI is probably more productive and going to be like
• 17:09
  Speaker 4: the Internet over the next five or six years. But
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  Speaker 4: it still looks overvalued. If you look at all the metrics,
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  Speaker 4: even the Warren Buffett indicator, it's at record highs that
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  Speaker 4: we haven't seen in the past, you know, forty years
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  Speaker 4: or all the way back to nineteen twenty nine again,
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  Speaker 4: So I think there's nervousness on that part. Then there's
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  Speaker 4: nervousness on the dollar part, because you know, our desinit
• 17:30
  Speaker 4: is just our debt just hit thirty eight thirty seven
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  Speaker 4: trillion dollars. So there's a lot of things happening in
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  Speaker 4: the market, and I think gold's just reflecting the uncertainty
• 17:42
  Speaker 4: that those things are creating a potential market correction and
• 17:46
  Speaker 4: you know, possibly the dollar not being the world's reserve
• 17:49
  Speaker 4: currency over the next ten years.
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  Speaker 3: All right, So let me ask you about gold, because
• 17:54
  Speaker 3: I've talked to people.
• 17:55
  Speaker 2: That hold a lot of gold.
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  Speaker 3: I hold some, and it's been a great investment for me.
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  Speaker 3: I don't have a problem with that. But when I
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  Speaker 3: think about it, what is gold actually good for?
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  Speaker 1: Right?
• 18:05
  Speaker 3: Silver there is a very practical use. Silver is for batteries,
• 18:10
  Speaker 3: silver is for the evs, it's using communication gold other
• 18:15
  Speaker 3: than putting gold foil on satellites. So I mean, what
• 18:19
  Speaker 3: is it actually used for that's practical?
• 18:25
  Speaker 4: Well, it's really real money, So you know, that would
• 18:27
  Speaker 4: be like saying, what's bitcoin, you know, used for? It's
• 18:30
  Speaker 4: it's something that holds its value. So right now, gold,
• 18:34
  Speaker 4: in my personal opinion, isn't just telling, isn't just high.
• 18:38
  Speaker 4: It's telling a story. So right now, investors all over
• 18:40
  Speaker 4: the world, they're nervous, inflation, spend, sticky, government debt, like
• 18:43
  Speaker 4: I said, has been skyrocketing. Central banks outside the United
• 18:47
  Speaker 4: States dates have been buying record amounts of gold. Why
• 18:52
  Speaker 4: because they want.
• 18:52
  Speaker 7: Something real, something that doesn't rely.
• 18:54
  Speaker 4: On political promises or digital numbers on the stream, and
• 18:57
  Speaker 4: something that they're holding that isn't falling twenty seven percent
• 19:01
  Speaker 4: since two thousand. So if you're holding you know, government treasuries.
• 19:05
  Speaker 4: Ten your treasuries, what are you.
• 19:07
  Speaker 7: Making four percent? Well, the value of the dollars.
• 19:09
  Speaker 4: Down twenty seven, you're actually holding that paper money and
• 19:12
  Speaker 4: losing money. So those central banks have been selling off
• 19:14
  Speaker 4: treasuries and buying gold. So when you see gold hitting
• 19:17
  Speaker 4: new highs, it's not random, it's confidence leaving paper assets
• 19:20
  Speaker 4: and moving into something more tangible.
• 19:23
  Speaker 3: All right, Well, gold used to be well, currencies used
• 19:26
  Speaker 3: to be predicated on gold. In other words, the US reserves,
• 19:29
  Speaker 3: for example, were gold reserves. Money was backed up by
• 19:33
  Speaker 3: gold that disappeared what one hundred years ago or fifty
• 19:38
  Speaker 3: years ago? So why do we need gold when, for example,
• 19:42
  Speaker 3: our dollar is not based on gold, it's not passed
• 19:45
  Speaker 3: by gold.
• 19:45
  Speaker 2: It's based on the faith and credit of the United States.
• 19:48
  Speaker 3: So here again I'm asking what it seems ephemeral to
• 19:52
  Speaker 3: me that gold has that much value.
• 19:57
  Speaker 4: Well, when you think about why they had gold back
• 20:00
  Speaker 4: the dollar, it was because they couldn't print the dollar
• 20:02
  Speaker 4: without buying more gold. So if you back ten percent
• 20:05
  Speaker 4: of the dollar, let's say, and you wanted to print
• 20:07
  Speaker 4: up a billion dollars, you had to put one hundred million.
• 20:09
  Speaker 7: You had to go out and buy one hundred million
• 20:11
  Speaker 7: dollars worth of gold.
• 20:12
  Speaker 4: The reason Bill that they wanted to take us off
• 20:14
  Speaker 4: of that was because they didn't want to buy the gold.
• 20:17
  Speaker 4: They want to print money willy nilly. And if they're
• 20:20
  Speaker 4: going to do that every time they do it, the
• 20:22
  Speaker 4: dollar that you're actually holding, that backed by the full
• 20:25
  Speaker 4: faith and credit of the United States government, is worth less.
• 20:28
  Speaker 4: So here we are in two thousand and eight. You
• 20:32
  Speaker 4: had a crash in the market, the Great Recession, and
• 20:36
  Speaker 4: we had eight trillion dollars worth.
• 20:37
  Speaker 7: Of government debt.
• 20:38
  Speaker 4: We're at thirty seven trillion dollars the value of gold,
• 20:42
  Speaker 4: reflecting the crash in the value of the dollar because
• 20:45
  Speaker 4: they printed up paper money. So you need something to
• 20:47
  Speaker 4: offset all of that money printing, and that's what gold does,
• 20:51
  Speaker 4: all right.
• 20:51
  Speaker 3: Kevin Demerit, founder of Layer Capital. Quick disclaimer, I do
• 20:56
  Speaker 3: commercials for Layer Capital, so I want you to know that,
• 21:00
  Speaker 3: and I do not view this as a commercial for Lear,
• 21:04
  Speaker 3: nor does Kevin. We're bringing Kevin aboard simply because it
• 21:08
  Speaker 3: is expertise, a nationally known figure in the world of gold.
• 21:11
  Speaker 2: Big time.
• 21:12
  Speaker 3: All right, Kevin, let's talk about gold itself. What is
• 21:16
  Speaker 3: it about gold that makes it so valuable. There are
• 21:20
  Speaker 3: other minerals, and there are the things that traditionally people
• 21:23
  Speaker 3: could have said, yeah, that's valuable, but gold is more.
• 21:28
  Speaker 3: What is it about gold itself that gives it its value?
• 21:33
  Speaker 7: Yeah, I think there's three things.
• 21:34
  Speaker 4: Number One, it costs something to pull it out of
• 21:36
  Speaker 4: the ground, so.
• 21:36
  Speaker 7: That gives it some value. Number Two, it's been used.
• 21:40
  Speaker 4: As money for over five thousand years, so it's very
• 21:43
  Speaker 4: well known.
• 21:43
  Speaker 7: And number three, it's divisible, meaning that I can take.
• 21:46
  Speaker 4: An ounce of gold and turn it into a tenth
• 21:48
  Speaker 4: of an ounce of gold and you can barter with that.
• 21:51
  Speaker 4: So I think those are the things that are most important,
• 21:53
  Speaker 4: and the most important about all of them is that
• 21:56
  Speaker 4: it has a limited supply. So when you think about bitcoin,
• 22:00
  Speaker 4: that's the one everybody knows because it has that limited supply.
• 22:03
  Speaker 4: When people put more demand on a fixed supply.
• 22:07
  Speaker 7: The prices are going to go up.
• 22:08
  Speaker 4: So unlike the government printing money, if they had a
• 22:11
  Speaker 4: fixed supply of money and it can only grow at
• 22:13
  Speaker 4: three or five percent a year, we'd have a much
• 22:16
  Speaker 4: stronger dollar.
• 22:17
  Speaker 7: Yeah.
• 22:17
  Speaker 3: I've always wondered about that because at least gold you
• 22:20
  Speaker 3: can point to and touch, where bitcoin you can't, and
• 22:25
  Speaker 3: even dollar bills. It's only paper which you can do
• 22:31
  Speaker 3: anything with. Gold seems to be very different. But there's
• 22:35
  Speaker 3: a historical aspect to gold that I've always fascinated me.
• 22:40
  Speaker 3: And why does it go up and down in value?
• 22:44
  Speaker 3: There have been times, I remember what I don't know,
• 22:47
  Speaker 3: a few decades ago, for twenty five years, gold didn't
• 22:49
  Speaker 3: go up, and then all of a sudden it comes
• 22:51
  Speaker 3: back and it explodes. So give us a little bit
• 22:53
  Speaker 3: of history of what gold has done here in this
• 22:56
  Speaker 3: country of the last hundred years.
• 23:00
  Speaker 7: Lot's the times that you're talking about.
• 23:02
  Speaker 4: Usually you're going to have inflation, which means they're printing
• 23:05
  Speaker 4: too much money. I mean, the definition of inflation is
• 23:07
  Speaker 4: too much money chasing too few goods. So usually at
• 23:09
  Speaker 4: the governments around the world printing money.
• 23:12
  Speaker 7: At a pace that's faster than the economy is growing.
• 23:15
  Speaker 4: So if the economy is growing at three percent and
• 23:17
  Speaker 4: you're printing money at seven percent, at some point you're
• 23:19
  Speaker 4: printing up so much money that you're going to have inflation.
• 23:22
  Speaker 4: You're going to have too much money chasing too few goods.
• 23:25
  Speaker 4: So if you look back in the eighties or seventies,
• 23:28
  Speaker 4: really that's when we had the hyperinflation. Inflation got up
• 23:31
  Speaker 4: to fifteen percent this time around. We've gone from a
• 23:35
  Speaker 4: data of, like I said, eight trillion dollars in two
• 23:38
  Speaker 4: thousand and eight to thirty seven trillion dollars. So you're
• 23:40
  Speaker 4: going to have a massive move in the gold price
• 23:43
  Speaker 4: because you've printed up a bunch of money, and some
• 23:45
  Speaker 4: of that money is going to find its way over
• 23:47
  Speaker 4: to gold that has the limited supply. You put an
• 23:50
  Speaker 4: increased demand on a fixed supply, it's going to.
• 23:53
  Speaker 7: Go up in price.
• 23:54
  Speaker 4: So the easiest way to look at the gold market,
• 23:58
  Speaker 4: which by the way, has an eighty two percent correlation
• 24:01
  Speaker 4: with the debt the United States and ninety two percent
• 24:04
  Speaker 4: correlation with the value of gold to the debt in
• 24:06
  Speaker 4: the United States, you.
• 24:07
  Speaker 7: Just look and say do I want to own gold?
• 24:10
  Speaker 4: And all you have to believe is the government going
• 24:12
  Speaker 4: to continue to print money. If you believe it's going
• 24:15
  Speaker 4: to continue to print money at the pace that it's
• 24:17
  Speaker 4: been printing money to devalue the dollars that are already
• 24:19
  Speaker 4: out there, then the value of gold should increase as
• 24:24
  Speaker 4: the offset of the decrease in the value of the dollar.
• 24:26
  Speaker 4: It's really that simple. You don't have to be a
• 24:29
  Speaker 4: rocket scientist to figure out where the price of gold
• 24:31
  Speaker 4: is going most of the time. In the short term, yes,
• 24:34
  Speaker 4: in the long term not really.
• 24:35
  Speaker 3: So do government still buy gold? Does the United States
• 24:38
  Speaker 3: buy gold? Because it used to be gold reserves? We
• 24:40
  Speaker 3: talk about FOURT Knox, which has I think only in
• 24:44
  Speaker 3: the hundreds of millions of dollars of gold in it.
• 24:47
  Speaker 2: I don't even know the figure. Are we buying gold
• 24:49
  Speaker 2: and why?
• 24:52
  Speaker 4: Well, the US government has the largest reserve of gold
• 24:54
  Speaker 4: out of any country in the world, and we value
• 24:57
  Speaker 4: that gold at thirty two dollars an ounce, not anywhere
• 25:00
  Speaker 4: near the four thousand dollars announced that are trading ad today.
• 25:04
  Speaker 4: But other central banks around the world like China, Brazil, Russia, India,
• 25:09
  Speaker 4: a lot of other countries are purchasing gold right now.
• 25:12
  Speaker 7: Bills.
• 25:12
  Speaker 4: Matter of fact, this is the fourth year that we
• 25:14
  Speaker 4: had record amounts of gold purchases by central banks around
• 25:18
  Speaker 4: the world. And you have to remember something about central banks.
• 25:21
  Speaker 4: They're not day traders. They're not here to buy gold
• 25:23
  Speaker 4: today and sell it tomorrow. They buy gold and they
• 25:26
  Speaker 4: hold it for ten, fifteen, twenty years at a time.
• 25:28
  Speaker 4: So in the past two or three years they've been
• 25:30
  Speaker 4: purchasing somewhere between a quarter to almost fifty percent of
• 25:34
  Speaker 4: the entire mining supply that comes out of the ground
• 25:37
  Speaker 4: in a year. And the last time we saw that
• 25:39
  Speaker 4: would have been in the early seventies, right before a
• 25:41
  Speaker 4: lot of inflation happened. So the answer to the question is, yes,
• 25:44
  Speaker 4: central banks around the world are buying gold at record amounts.
• 25:47
  Speaker 2: And does that include the United States?
• 25:51
  Speaker 7: It doesn't include the United States.
• 25:53
  Speaker 4: We already have, like I said, the world's largest reserve,
• 25:55
  Speaker 4: and we don't value it correctly. If you valued it
• 25:59
  Speaker 4: at the the value that you're supposed to would be
• 26:01
  Speaker 4: at almost half a trillion dollars. So that give you
• 26:04
  Speaker 4: some sort of an idea of what our reserves are.
• 26:07
  Speaker 4: And if you compare that to the other countries, they're
• 26:10
  Speaker 4: less than half of that.
• 26:11
  Speaker 7: For the next biggest one.
• 26:13
  Speaker 2: All right, why don't we the government sell the goal?
• 26:15
  Speaker 3: Then if it's a reserved to prop up the economy
• 26:19
  Speaker 3: or prop up the dollar, it would never be sold.
• 26:24
  Speaker 4: Well, you know, that's a great question, and you should.
• 26:27
  Speaker 4: We should get the British government on the phone, because
• 26:29
  Speaker 4: they sold half of their gold reserves in two thousand
• 26:32
  Speaker 4: when gold was two hundred and fifty five dollars an ounce,
• 26:35
  Speaker 4: So that was the most idiotic move you could have
• 26:36
  Speaker 4: done compared to now four thousand. So most of the
• 26:40
  Speaker 4: time you don't see central banks selling a lot of gold.
• 26:43
  Speaker 4: They'll sell some here and there if there's war, maybe
• 26:46
  Speaker 4: Russia solt some and things like that, but for the
• 26:48
  Speaker 4: most part they kind of hold it very long term.
• 26:51
  Speaker 7: Ten fifteen, twenty years.
• 26:53
  Speaker 4: A matter of fact, in two thousand, I don't know
• 26:55
  Speaker 4: if you remember this, but I'm such a big fan
• 26:57
  Speaker 4: of yours in your radio program, and I asked you
• 26:59
  Speaker 4: if I could be on the program in two thousand,
• 27:01
  Speaker 4: and you told me, I'm going to go talk to
• 27:03
  Speaker 4: my friend Jim Kramer and ask him what he thinks
• 27:05
  Speaker 4: about gold. And Jim came back and said, hey, I
• 27:07
  Speaker 4: don't know about gold. That's exactly when gold was two
• 27:10
  Speaker 4: hundred and seventy five dollars an ounce, and here we
• 27:13
  Speaker 4: are at four thousand. So the gold market has actually
• 27:16
  Speaker 4: outproduced the stock market sent two thousand. If you had
• 27:19
  Speaker 4: to put a one hundred thousand dollars investment in gold,
• 27:21
  Speaker 4: if we worth eight hundred and thirty two thousand, one
• 27:24
  Speaker 4: hundred thousand dollars investment in this now would be worth
• 27:26
  Speaker 4: three hundred and fifty thousand, So give you some sort
• 27:29
  Speaker 4: of an idea.
• 27:30
  Speaker 2: Yeah.
• 27:30
  Speaker 3: On the other hand, next time I talk to someone
• 27:33
  Speaker 3: in the bitcoin business. When bitcoin first came out, it
• 27:37
  Speaker 3: was I don't think eight bitcoin for a penny and
• 27:42
  Speaker 3: no when knew what's going on. I still don't trust
• 27:45
  Speaker 3: bitcoin because I don't trust crypto.
• 27:49
  Speaker 2: Gold is real.
• 27:50
  Speaker 3: I mean I can touch it, you know, I can
• 27:52
  Speaker 3: take my goal. I can use it as a doorstop
• 27:54
  Speaker 3: if I have enough of it. Don't get bitcoin or crypto.
• 27:58
  Speaker 3: How do you feel about that in the gold business.
• 28:03
  Speaker 7: Yeah, you know, here's the difference.
• 28:04
  Speaker 4: I mean, the gold market has a five thousand year
• 28:06
  Speaker 4: track record and Dick Cooin has a you know, twelve
• 28:08
  Speaker 4: year track record. I'm gonna stick with the one that
• 28:10
  Speaker 4: has a longer track record, and you know, see what happens,
• 28:13
  Speaker 4: see see what, see what we get in the next
• 28:15
  Speaker 4: and fifteen years there?
• 28:17
  Speaker 3: All right, Kevin, thank you for joining us. You I
• 28:19
  Speaker 3: gave us a lot of information we didn't have before.
• 28:22
  Speaker 3: Take care of yourself. We'll talk again.
• 28:25
  Speaker 7: Yeah, you too, Thanks for having me on.
• 28:27
  Speaker 2: Sure, Kevin de Merit guy knows his stuff. I'll tell
• 28:29
  Speaker 2: you that man, you knows Gold like very few people do.
• 28:31
  Speaker 2: We're done, all right, Finish Finney. You've been listening to
• 28:35
  Speaker 2: The Bill Handle Show.
• 28:36
  Speaker 3: Catch My Show Monday through Friday, six am to nine am,
• 28:39
  Speaker 3: and anytime on demand on the iHeartRadio app