Latest / Financial Survival Network / Precious Metals as a Financial Hedge - Dunagun Kaiser #6101

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Precious Metals as a Financial Hedge - Dunagun Kaiser #6101 · Financial Survival Network

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You are listening to Carrie Letz's Financial Survival Network, where you get valuable information
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And welcome. You are listening to the Financial Survival Network. I'm your
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host, Carrie Leutz. I am here at the ric Rual Symposium. We're
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meeting with a lot of mining companies, metals dealers, and of course my
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good friend here you know, and well Donegan Kaiser and done again. Hey,
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we have a lot of history here, Yeah, it goes back quite
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a way, as Carrie, because you're the one who actually got my son
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Elijah to the big time in podcasting. Gosh, that was like thirteen years
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ago, and then he got me into it. And here we are today
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and I'm at the second time in a row we've met at the Rural Symposium.
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Yeah. So things for the economy, the political system globally not looking
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overwhelmingly positive, to put it charitably. What's your take on what's happening as
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far as the economy goes, it seems like we're struggling to get off our
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knees, as bank director Alistair McLoud, whom we interviewed recently and frequently on
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our channel, would say, because there are so many areas of we've had
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it. We've just come out of four years of broken supply chains from all
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the lockdowns and all that crazy stuff. But it seems that during that time,
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the era of unfettered access to liquidity and low artificially low interest rates and
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everything that buoyed a lot of the expansion of the financial world over the past
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four decades has made a title shift, and he's not expecting it to go
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back. And people have been lulled into complacency, often by their mainstream analysts
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and financial advisors and everyone saying that all they have to do is ride out
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the dips and just stay invested in the market and that sort of thing.
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But companies there's something like, as active money manager Michael Pento tells that like
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forty percent of companies up to that are zombie companies. They can't even afford
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enough. You don't have enough earnings to pay the interest on their obligations,
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their business loans, and now they're facing having to refinance those business loans that
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were at very low percentage too much higher interest rates, and that's going to
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be an incredible stressor first in those companies. But if they can walk away
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from some of that, like corporate real estate and non recourse loans and that
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sort of thing, all of a sudden, that flows upstream to the banks
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who issued that, who took on that, that the obligation, and that
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means the banks that were already you know, last year in twenty twenty three,
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we had three of the largest it was actually the second, third,
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and fourth largest bank failures in the history of our country. And that was
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just nothing compared to some analyses have come out with somewhere between six hundred and
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one thousand additional banks that are in as bad or worse state than the three
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that failed last year. And when these commercial loans start getting abdicated on by
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the companies and the banks are holding the bag, it's going to be a
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horrific site for people. You and I were just talking before we started this
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recording session about people's reluctance to, for example, get into owning real assets
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like physical precious metals, that sort of thing, because they're unfamiliar with or
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uncomfortable with the idea of how am I going to protect my treasure. You
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work hard, you save, you try to do all the responsible things for
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a lifetime, and you amass this nest egg and you think, well,
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it's safe because we live in the strongest financial country and the world has ever
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seen. And I've got in all the diversified ETFs and everything like I'm supposed
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to be, and somehow all my deposits in the banks, and my deposits
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in the brokerage accounts, and my stock shares and the brokerage accounts are all
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where my treasure is. And some people also think that their retirement pension plans
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and retirement funds are going to protect them. But those folks are often invested
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in the US Treasury bond that the rest of the world is turning their back
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on now that we've seen them use as weapons in this sort of global financial
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war. So it's going to be very different times we're heading into and a
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lot of unknowns. But one thing that I think we can safely say is
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the next forty years do not look like the last forty years. So if
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you play the next financial war by the old rules, you're likely to end
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up with. The best analogy I can think of is when Hitler's tanks were
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rolling in across Poland in nineteen thirty eight nineteen thirty nine, and they came
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out on horseback with their catboard, ready to fight World War One all over
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at the best cavalry in the world, Poland. Yeah so, but I
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guess at panz Er it doesn't stand up for a while, and it seems
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that we're a lot of people just trying to survive financially, are using the
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tools and the techniques that have proven themselves worthwhile over the last forty years.
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But we're in a new regime here and things are likely to be extremely different
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going forward. Yeah. So, the average person I've found living here in
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Florida, maybe even more so so many retirees, really doesn't have a clue
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about what potentially can happen here. That's a big problem I'm really concerned about
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personally. I mean, that's when I founded my channel way back in twenty
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thirteen, calling it Reluctant Preppers. The idea of preparedness is as simple as
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the old boy Scout rule be prepared, which is, you know, if
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life can bring unexpected and it does. And the old sayings like I'd rather
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be seven years earlier than one day late, or having two is like having
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none, and having one is like having zero. Because things break down,
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you should have a spare if you think about it the most simplistic, and
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Florida is a good time to think about that. And we're heading into the
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summer hurricane season here, and it's absolutely prudent to prepare a head and think,
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where's my water supply, my food supply, what am I going to
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do for shelter? How well am I set up? How well do I
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know my neighbors and my network and my community where we could help each other
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in times of urgency. But that's just on a physical, natural disaster type
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situation. But for this what you said about retirees, and Florida's got a
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lot of those, I'm really concerned that the vast, vast majority of people
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are woefully underprepared for the type of volatility that's likely to come, based on
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all of the experts that we interview, because they think that their Social Security
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payments and their pension and their certificates of deposit and their bonds and their bank
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accounts and their stock accounts are going to carry them through, and there's real
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reason to be very concerned about all of those. As many analysts who are
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telling the truth have been saying, we're in the bubble of everything, and
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this has never happened before in our country, where stocks and bonds and real
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estate are simultaneously in a three way bubble, where we don't have any of
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those asset classes functioning effectively as hedges against volatility in the others, and that
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leaves precious metals as one of the rare remaining hedges. But most people have
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no idea about that. It's been three generations since it was common understanding that
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you put the fruits of your labor in your pocket as cold, hard cash,
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and that's how you're going to protect your family's finances over the generations going
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forward. But people who are learning the Lesson and Rick rule tells us it's
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less than one half of one percent are going to be better prepared from a
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preparedness standpoint for what's coming, no matter how unknown it is, are how
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volatile it is. Then those who are trying to navigate the waters ahead based
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on the old rules, Hey, it just reminds me that old saying better
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to have a gun and not need it than to need a gun and not
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have it. Right, It's exactly right. Yeah. So this this is
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an example. Andy Sheckman just gifted me with this yesterday. This isn't eighteen
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eighty four American silver dollar. It contains zero point seven one five ounces of
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pure silver. And the thing about this is that this was worth one dollar
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back in eighteen eighty four, and now it's probably worth forty dollars. And
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so the question is what changed. This didn't change. This is still one
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ounce of earth three quarters of an ounce of silver. But what changed was
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the dollars going down the drain. And even when I was a kid,
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the saying was a bucket worth what it used to be. But that rate
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of change in the value of the degradation of value of a dollar is accelerating
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a hockey sticket as the I won't call it the money supply. They have
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every called the FRED calls it the money supply. If you go to the
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Saint Louis feder Reserve, you can see charts on the hockey stimp of the
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what they call the money supply, but it's the currency supply. And that
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supply. And that's and that's how, that's how our lives became connected because
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my homeschooled son, Elijah, came to me and asked me, as a
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as a fifth grade homeschooler, dad, where does money come from? And
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there down the rabbit hole we went and uh and what what he turns out
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to what he was actually asking without knowing it was where does currency come from?
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And why does it? Why do we act like it has value and
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that sort of thing. How does it? How is it that people are
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willing to exchange it for real things? And the times are coming, according
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to many that we interview, when people will not be willing to exchange real
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things for our current currency that really doesn't have any intrinsic value. So what's
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you're feeling about crypto's? Crypto the solution for all that els Bitcoin ethereum and
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name your others. I just got done reading the book by Michael Lewis about
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Sam Bankman, Freed and FTX, and it was quite hysterical because, on
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the one hand, it's kind of like he represents the dichotomy in society,
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you know, having this knowledge, this extreme knowledge, the grasp of mathematics,
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and yet not understanding the basics of economy and reality. It's a split.
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You know. There's a saying like where a society where we keep learning
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more and more about less and less specialization, right right? Yeah, Well,
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it may be well true that cryptos may play a significant role in our
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financial lives, whether we like it or not going forward. One thing that
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many people will tout about bitcoin is that it's supposedly decentralized, rather than the
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specter of central bank digital currencies such as might be issued by the Federal Reserve
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or others, which would be basically controlling and tracking every single move of your
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financial life. The concern about central bank digital currencies is that there's no way
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to get out of the system. People say, well, I'll just go
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take my money out of the bank. It's like, if it's a central
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bank digital currency, it only exists in their system. There is no taking
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it out of the bank. Is not like a dollar bill. No,
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you can't. There's no physical manifestation of it that you can say, now
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I'm off the grid, I'm out of the system, and I'll do it
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as I please privately because it only exists inside the system. The promise of
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bitcoin is that it that it would not be controlled in that manner by centralized
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authorities, but it would be decentralized in their former democratic and that's certainly preferable.
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There's the factory means that it's only usable for interchange and that sort of
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thing when you have electricity and you have working computers and you can and you
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can do those of transactions. So there's many kinds. I'll give you a
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little little example where we walked into and some of our subscribers have heard this
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one before, but my wife and I walked into our favorite locally owned breakfast
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cafe where they always treat you like it's home and you feel very welcome and
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that sort of thing. But we couldn't even get a seat at the time,
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when in normally would have been a problem. And I said, ask
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the person at the hostesstand, why can't we be seated? She said,
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because no one can leave. I said, well, what do you mean
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no one can leave because they can't pay. They can't pay the credit card
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system is down. She said, Those two that had cash on them were
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able to pay and leave, but everybody else is having to hang around because
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they can't pay. And she said, we said, well, we have
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cash, so anyway, But the point is that it's not just cash,
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it's it's when you have precious metals, you have the real thing. So
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it's that that cash has always been a icon of or a substitute for to
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make it transactional. There's there are ways coming now to make to make things
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transactional that may past that. The question is what's the underlying value. So
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I think there's likely to be a role for cryptos going forward. It's certainly
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showing a lot of resilience, volatility, but a lot of resilience over the
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decades. When we met at the it was a second Liberty Mine Mastermind symposium
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the co hosted in Las Vegas, Nevada, where there was quite a lively
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discussion about cryptos versus solid assets like precious metal as a way of storing your
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wealth. And there may be a role for both and I think time will
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tell. But so it may be prudent to at least have your foot in
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that in that door. Yeah, I buy a little bit every Sunday night,
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just so I got some skin in the game, so I could talk
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about it as like somebody who you know, actually you know, doesn't just
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talk the talk, but walks the walk. And there's people in the gold
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and silver space that own none. They just own some stocks and they hold
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themselves out as experts. So when we have this conversation next year, God
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willing, we're both here at the Rules symposium, what do you think we'll
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be talking about. There's a lot that's going to go on. I'm afraid
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between now and this time next year, the presidential election in the US is
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likely to be contested and divisive, and that's a concern for the for the
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civil functioning of our of our republic. We've got crisis points nearer than we've
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ever seen them in terms of the banking system and corporate debt that both would
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reflect. I mean, all it would take is for there to be an
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unexpected bank closure where we get We got to notice back after the global financial
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crisis from our brokerage firm saying until further notice, your access to the funds
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in your money market account, which was called the reserve fund, are suspended
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until further notice. And we called them up and said, hey, there
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must be some because we're not in the stock market, we're not invested.
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They said, well, you may not be. You thought you were in
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this this money market fund, which you were, but it was invested in
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Layman Brothers on the backside, so it's collaterally damaging them. Until further notice,
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you don't have access to your fund. So when Mom and Pa Kettle
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in Main Street, USA, get that Monday morning or Sunday night, notice
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that until further notice your bank access to your bank accounts has been suspended.
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I think a light bulb will go on for people that unless you hold it,
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you really don't. You really don't have access to your assets. You
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know. It's like having no debt and getting a margin call. But wait,
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I'm totally solvent on liquid I don't owe anything and I just got this
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margin call. What uh? And that's what we're up against? Hey,
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done again? Where do we find you? How do we connect with you?
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On the web? Look at look for Liberty and finance all spelled out
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all one word liberty onfinance dot com. That's our web page. Also,
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we're on YouTube, rumble right on SoundCloud, all of the place, gab
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getter at Liberty and Finance. You'll find us there and we'd be glad to
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have you as subscribers. Hey, and congrats on getting one hundred k subs
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from our digital overlords over at the Alphabet Corporation there. We're always appreciated to
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any breadcrumbs they're willing to throw us. One has to wonder how many subs
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you would actually have had had they treated us like they treat cat videos.
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You know, I'm just starting to learn a little bit more about these mysterious
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algorithms that grant or deny impressions and click throughs and all that sort of thing.
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And I had some very interesting conversations with two of those people who worked
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in that company just this past week about that, and got an eye opening
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conversation about the conversation. I'll just I'll just throw a breadcarmb out there,
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just that it involved me the answer to my question of why did this happened
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and why didn't that happen? How come this was ineligible? And they said,
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actually, we don't know because it was our AIS. Blame it on
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the AI. Yeah, it's the algorithm that decided and we don't even know.
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We can't even tell you where you where you step the foul of the
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line. I said, just tell us at what point in this discussion the
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wrong thing was said so that we can be aware of that going forward,
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and they said, actually, we think it might be this or it might
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be that. So this is a it's a very chilling effect on many people,
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some who got actually deep platform, some who just got shadow band that
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sort of thing to think. Do you how do you have to self edit
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so that you can escape that? And we have noticed that certain individuals whom
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we interview where we'll get a very high click through percentage rate. Once somebody
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does get an impression, but it's that they're not getting the impressions when that
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name, when that name is in the is in the title of the interview.
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We have our ways of bypassing the algorithm. However, sometimes they're expensive.
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I mean just recently, I used to get hundreds of thousands of views.
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Now if I get five hundred or one thousand now, granted there is
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more competition and maybe I could be more current, but hey, discussion for
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another day. Appreciate you coming on. Got a question for done Again myself?
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Shoot me an email Klatcarrieluts dot com and you'll find a link to done
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Again site on the on our site Financial Survival Network dot com in the show
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notes. Just click through while you're there. Sign up for your free newsletter.
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Done again, We'll talk to you again soon. Thanks Carrie, Thanks
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for listening to Carrie Letz's Financial Survival Network, your solution to today's trying times.
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For the latest, go to Financial Survivalnetwork dot com. Financial Survival Network
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now more than ever,