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This Could Be Worse Than 1929. Here’s How to Prepare. · Man in America Podcast

• 0:00
  Speaker 1: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Hulghouse. So perhaps you saw the interview that I did with Aaron Brickman this week where basically what he has is talking about is all of these signs and indicators lining up and painting a little bit of a gloomy picture of what's gonna be happening with the markets. And what's a little bit eerie is so I spoke to him last weekend on Sunday, and he said, look, Seth, if the market does x, y, and z this week, and if it continues with this behavior in the next week, he's like, every single thing that I'm seeing from planetary alignment to the previous fingerprint of exactly how the market has crashed in 1929 specifically. He's like, everything is lining up to a crash that could be big, and we're talking more than half the market wiped out.
• 0:56
  And as I watched what happened this week, so on Sunday, he told me, look, I expect a strong rally. We'll probably gain close to 2,000 points across Monday and Tuesday. It's exactly what happened. He said things are gonna level out on Wednesday, maybe start to dip. Exactly what happened.
• 1:12
  And then he said, Friday he said Thursday, Friday, we're gonna see the market start to go. He said, it's kinda like you're the very top of roller coaster starts hitting like this on Wednesday, and then it's like this. And so he told me, Monday, you'll probably see a little bit of a rally Monday, and then Tuesday onward, you're gonna see that vertical line down. And so I thought, this is crazy. And so I spent almost two and a half hours talking to him, but we didn't really get into how to protect yourself with this.
• 1:39
  And so I really want to bring on Kirk Elliott to have this discussion with me. So Kirk Elliott is someone that I'm just I wanna be so transparent with you. I'm now working with Kirk Elliott. He works in precious metals. And I know that you've watched.
• 1:52
  I've worked with Noble Gold before. I still trust them. There's nothing about that. But I met Kirk personally. He is a man of God.
• 1:59
  I love how he runs his business. And I think that he actually offers really valuable advice, because a lot of financial advisers, they're not looking at geopolitics in the way that people like Kirk are. They're not looking at biblical prophecy. They're not looking at what happens if the central bank digital currency rolls out. How's the great reset going to affect the markets?
• 2:18
  Your typical adviser is not looking at those things. And that's what I love about talking to Kirk is that he has this blend of knowledge of geopolitics history, but also faith and where we are at this time in history. So I wanted to bring him on to talk about just where things are at and what could happen and what's happened in the past. What happened in 02/2008, for instance? What happened to gold and silver prices, etcetera.
• 2:40
  So without further ado, Kirk, thank you very, very much for joining me today. I really appreciate you making the time for this.
• 2:49
  Speaker 2: Oh, it's it's my pleasure, Seth, and and thanks for those kind words. It's it's always nice to hear that that that's the the who we are is the perception and the reality of what people see, right? Because it is philosophy of our firm is people over profit. And this is just God's way. Right?
• 3:10
  And this is God's math. God's math is way better than people's math. Right? Because when you focus on people, profit will come. If you ever start focusing on profit, people will leave.
• 3:22
  Well, as you look at man's economy, they're all focused on profit, right? It doesn't matter if it's a politician or if it's a company or anything. It's like you start focusing on profit. Greed is an enticing siren song in people's hearts and minds. Right?
• 3:42
  And it just starts to consume you. Here's where it's you focus on people, which is God's way of doing it, and the rest just sort of happens. You don't even have to worry about it. So thanks for making that acknowledgment. I love it that that's the people's perception is they're seeing who we are.
• 4:05
  And who we are is I thought you said it very, very well because what we do is we put these puzzle pieces together to build a big picture. And and the puzzle pieces that that comprise the economy where we are right now is part political. It's part economic. It's part social.
• 4:23
  Speaker 1: Right? It's a big part spiritual. It's the battle of good and evil Right.
• 4:28
  Speaker 2: I mean, because you look back and you were talking about some of those bigger, longer term cycles and everybody always wonders, it's like, why is there always correction in October in the stock market? Why is there always like a black Monday or Thursday or whatever they call it, right? There's always a correction in October. Interesting, there's always the end of a in the Jewish calendar, in the Jewish faith, that last feast that comes on September 24 time frame, right? It's like there's always been, and you hate to use the word always, but there always has been.
• 5:11
  This is one of those times when you can use it, a market correction following that. Well, why is that? And said, I don't know. I don't know. I just know that there is, right?
• 5:25
  And part of it is a function of it's that spiritual component of it. Part of it is you've got the third quarter numbers that come out corporately. You've got the end of the fiscal year at the federal government that happens during this time frame. And so there's always mayhem that follows. Like today, as as we're talking, the the jobless claims numbers came out.
• 5:51
  Right? And so there's so much manipulation with that number. So unemployment went up and it's like, oh, they're shocked that it's actually more than what they thought. Right? And so the stock market comes down another 400 or so points today.
• 6:06
  But what's interesting about this number is that the the total universe of people that they're measuring, that number is coming down. So they're taking people out of the market, which should actually make unemployment better. But it didn't. And it was still worse, which tells you how bad that it really is. So, for example, why would they take people out of the total universe of people that they're measuring against?
• 6:36
  Well, it's for political reasons, right? Because they don't want unemployment to look so bad. But who do they take out? So let's say, Seth, that you you lost your job. And you're out there beating the streets and the sidewalks pounding on every single door and the economy stinks under under Biden's America just like it does now.
• 6:54
  And you can't find a job. Well, you get so discouraged that you say, I'm giving up. I'm not going to look anymore. Right? So are you employed or are you unemployed at that circumstance that moment?
• 7:09
  You're still unemployed. You're not working. But the government would say, his choice, he voluntarily stopped looking for work, so we're not going to count him as unemployed Right? So it's like, okay, this mysterious. And we covered some of this when we were talking about the fall of Rome in our last recording, right?
• 7:36
  Almost everybody in like over 20 states is technically unemployed right now. Right. It's because of these numbers. The number of people on disability. Again, not their choice.
• 7:48
  It's like you can't help it that you had a disability that you're now getting payments from the government, right? But the government doesn't view them as unemployed either. That's actually a double whammy because not only they not working and producing, but they're getting government money for it as well. Right? So it's like, oof, higher taxes, higher government expenditures, not paying into the system.
• 8:12
  Right? So you add all of those in and unemployment is hovering right at around 24%. Not 3.7% that the numbers came out this morning. 24%. One out of every four people on the streets, if you were to go outside, is actually technically unemployed in America right now.
• 8:33
  Which is
• 8:34
  Speaker 1: it's crazy because what it makes me think, this is a pattern I'm seeing, is that in every way possible, what they're trying to do is to hide the truth of how bad things really are. And not that I'm, you know, coming at this as the doom and gloom, because actually, I see a really bright future on the other side of some tough times. Right? I really do believe that. But it looks like they're just they're hiding it.
• 8:56
  Same thing with the the the vaccine. Right? Oh, well, you know, they're hiding everything until a certain point. The same thing with the economy, with the the dollar. Right?
• 9:06
  And you mentioned at the beginning, it's interesting, the idea of focusing on people over profit, which I think that for, you know, most businesses, that's a a balance, and they're trying to figure out where they fall. But it's almost as if what I'm seeing at the very, very top of this is that they're they have this other goal, right, which is just to destroy everything and bring in the great reset. Right? It's just like, well, you you look at these companies like Nike, for instance, where they know you know, these companies, they they were built on studying the market and knowing that, well, right now, you know, women between 35 and 40 are looking for this kind of product, so we're gonna know exactly how to capitalize on that. They know the woke agenda is causing their companies to collapse financially, but it's some so it's not people or profit.
• 9:51
  It's it's actually the satanic agenda. And so that's what I see happening with the the the financial system too, is that it's almost like they're just trying to print as much money as possible and get all the other currencies around the world to start to fall behind. So they're forcing people into the dollar so that all at once, they can just reset the entire financial system. I mean, is that a tinfoil hat theory? Or what do you think about that?
• 10:20
  Speaker 2: Well, it's not a tinfoil hat theory because it's reality. I mean, how do you bring in a new system that's all about people control? It's all about global I mean, I hate to use the term because people will think, oh, tinfoil hat wearing conspiracy guy talking, right? But but it does usher in a new world order where there's economic coordination, there's political coordination, so new social structures that are all put into place. This is what they're doing.
• 10:50
  Whether you use the term it's a new world order, it's just a paradigm shift. It's It's the end of a cycle and we're going into a new one. Because if you look at The Fourth Turning, Neil Howe's book, right, every four generations you get a fourth turning cycle, which characterized by complete upheaval, a complete changing of the guard where and if people it's a basically it's a sociology book. Right? It's not it's not a book of prophecy.
• 11:27
  It's not but but yet they wrote this thing decades ago, and everything that they talked about is actually happening because this is where what we talked about the puzzle pieces, the social dynamics come into play, right? It's like people get tired. They get exhausted of the continuous debt and the continuous spending. Something's got to give, right? Because when you have debt, debt, debt, debt, debt, and you've maxed out your home equity lines, your credit card payments, you've tried to keep up with the Joneses, you're just you get exhausted, right?
• 12:01
  And oh, now there's a change in the interest rate cycle. And all the debt that you have is because those are cycles too. Right? Every twenty eight years on average, interest rates go from high to low and from low to high. Right?
• 12:16
  So last time we had very, very high interest rates, the highest point was in 1983. Well, '93, o '3, '13, '20 '3. So we're we're, like, thirty seven years into a cycle that normally averages 28. It's because they've had cheap credit. They've kept interest rates artificially low.
• 12:35
  So we're playing with the edge of that envelope. And now we just escaped the edge of that envelope. And over the last five months, rates have started to turn around. That's that pendulum shifting moment. And you can't have the debt that we have in this country sustained in a rising interest rate cycle.
• 12:54
  And so here's here's where we can show some of the news from this week that actually are playing right into some of these big, bigger cycles, right? These spiritual cycles and everything else. So I'll use this example. Three months ago, if you were to buy a house in Denver where I live, you'd have had to actually make an offer on a place twenty four to forty eight hours after it was listed at a $50,000 premium over the asking price to even be considered.
• 13:26
  Speaker 1: So
• 13:29
  Speaker 2: three months later, now after five rate increases in a row, these houses are still on the market. They're lowering the price. People can't afford them. I mean, I was looking at a place I love to do research right on the markets. And I was talking to a realtor, and they had a place two times in a row.
• 13:48
  They got offers on this place. People couldn't qualify for it. So now they're lowering the price. Right? It's like it's a different environment.
• 13:56
  And why couldn't people qualify for it? Because rates have gone up and the price of the house is now having to come down because now these owners are Oh, next month the rate's going to go up even more. The month after that is going to go up even more. We got to get rid of this thing now. And so they're lowering the prices, right?
• 14:13
  This is just a function of where we're living. But here's the numbers that I wanted to go over with you. In the last thirty days, thirty days, the number of new applications for mortgages, for people buying houses is down 14%.
• 14:32
  Speaker 1: Wow. What's that tell us? What's that tell us?
• 14:35
  Speaker 2: Oh, it tells us that what we're hearing about the economy, how the infrastructure spending, everything that we're doing is not building the economy. The economy is not healthy, Right? It's actually sick. People can't afford it. Interest rates going up.
• 14:49
  People are maxed out with their debt. They can't afford a new house. Banks are starved for liquidity, right, because of what happened in July of last year, in July of twenty twenty one. The Fed did, and they've continued on with it, but this was the big time they started a reverse repo mechanism, which means they pulled two and a half trillion dollars of capital out of the banking system. And in exchange for it, gave the banks these worthless treasury bills.
• 15:16
  It's like, who wants that? So they took money out of the system. Here's the thing. At a time when the economy needed it most, we were still in COVID at that point, right? Why, when mom and pops needed money and were starved for capital themselves, would the Fed take money, dollars 2,500,000,000,000.0 out of the system?
• 15:36
  Well, it's counterintuitive. Right? Unless you have a different agenda. Unless you wanna break the system. Right?
• 15:44
  To to actually make people more dependent on the government for money rather than private capital through banks. Banks don't have it. People need it. Where are they going to go? They're going to go to the government.
• 15:55
  Right? So you've got this happening. Well, over so there's not enough money there to buy houses. The banks are starved for capital. So over the last thirty days, the most sensitive part of the real estate market is refinances, right?
• 16:11
  That's the one that responds most to interest rates. That's down 18% over the last thirty days. But from this week last year to this week this year, exactly fifty two weeks later, the number of new housing applications is down 82%. Eighty two %. In a year.
• 16:35
  So this tells me the real estate market's toast. Right? So it's Wow. We're not done with the rate increases. Right?
• 16:44
  So
• 16:44
  Speaker 1: Well, they're well, they're they're stuck in this trap. Right? In the eighties, they had inflation. So, okay, we're gonna bump the rates way up. It's gonna counteract inflation, bring it back down, but they can't do that.
• 16:55
  Like, it's it's like if the whole thing's on a knife, it's like, you know, really damned if you do, damned if you don't. And the only thing that they can do is just wait for the just the implosion of the system. Right?
• 17:05
  Speaker 2: Right. And so I saw this chart a couple about two months ago. And so it was overlaying the market crash, the Great Depression crash. Right. And the one in 2,000 with tech stocks versus today.
• 17:24
  A ten year chart of the Dow Jones. Right? So which is the main stock market index that we all follow. You overlay those three and you take the strip the numbers off of them, right? But you overlay the charts, they look exactly the same.
• 17:41
  Really? I mean, where it had slow growth for about six years, had a little upswing correction, and then explosive growth. And then what came after the explosive growth? Massive collapse. In February, it was an 80% collapse in in tech stocks.
• 18:01
  In 02/2009, it was over a 40% collapse in the Dow. What are we seeing so far this year? Over 30% downturn in the and we're not even through the year yet. We're not done with this collapse.
• 18:13
  Speaker 1: And we're entering into the period where historically, we're it's on that roller coaster. It's like we're entering into that part where you're at the very top and you're hitting that edge where it goes vertical soon after.
• 18:24
  Speaker 2: Yeah, it does. And so about six months ago, a guy named David Stockman, who was President Reagan's director of the budget, this isn't your budget. This isn't my budget, right? It's on one page and we can figure it out. This is The U.
• 18:40
  S. Budget. It's trillions of dollars, right? Smart guy. Smart guy.
• 18:44
  So he said about six months ago, hey, we probably got somewhere between a 5075% correction in the stock market ahead of us. The reason he said that and he gave his metrics and analysis was because all of the stock market growth that we've seen is because of stimulus money and debt.
• 19:04
  Speaker 1: Yeah. All that liquidity getting pumped in.
• 19:06
  Speaker 2: He needs to be liquidated. And where does that bring us? He said it was a 50% to 80% growth because of debt. The debts are liquidated. You have to come down with that.
• 19:17
  And people said stuff like, Stockman, you're smoking crack. You don't know what you're talking about.
• 19:22
  Speaker 1: Look at That's great depression type level. I mean, 80% correction is that's something that changes our entire way of life.
• 19:30
  Speaker 2: It is. So I dug in a little bit deeper and it's like because he's a smart guy. It's like, okay, let's look at the stock market. Right? So if you look at a long term trend between 02/2005 and 2011, on any chart, you're going to have ups and downs and ups and downs.
• 19:47
  But that six year period, it was just like up, down, down, It was just flatlined for about that time frame. And then it shot through the roof. So technically speaking, that's a basing pattern, right? The markets will want to correct to the basing pattern. Right?
• 20:04
  So all of that parabolic growth after that, it'll correct and you you end up at that level. Right? It just wipes away that debt. So what level is that? At the low end of that trend line, it's 9,000 on the Dow.
• 20:19
  At the high end, it's 13,000. So we're at 30,000 right now. So that's another 60% correction. And I'm thinking, oh, my word, Stockman. This is probably the math that he was looking at.
• 20:32
  And so we're already seeing this stuff happen right underneath our nose. And so the perception is reality, Seth. Right? So if you were to invest in Tesla or Google or Apple or whatever, why do you do it? Well, because you say, great products, love the products, they have good management, and the economy is booming.
• 20:56
  I'm going to invest my money into these stocks because for retirement, it's going to do amazingly well for me. Right? So you look at that, and now we've got a market perception where consumer confidence is at an all time low. Nobody thinks the economy is heading in the right direction. You've got too much debt.
• 21:16
  People can't afford some of this stuff. Like even Elon Musk, brilliant guy. You don't have to agree with him on everything. Right? But he's a smart business guy.
• 21:25
  He's a billionaire. You don't become a billionaire if you're dumb. Right? So so he's laying off 10% of his workers at Tesla. It's like, why?
• 21:34
  I was just in California. Gas was almost $7 a gallon. Right? And I'm thinking, oh, electric cars should be booming. Right?
• 21:45
  Why is Elon Musk in the face of highest gas prices we've seen in this country in, like, forever? Is he laying off 10%? Because he knows his cars are expensive electric cars. Nobody's going to be able to afford them, right, in this inflationary world where people aren't working in higher taxes. So as people start to see that, they think, I'm going to slow down my investing.
• 22:10
  I don't know what the future of the economy looks like. Whenever you get that parabolic growth, ultimately it's a function of society. Perception is reality, right? Reality isn't necessarily reality a lot of times. Perception is.
• 22:26
  And so they're thinking, we've gotten so high, the debt is so much, we can't afford to live, We're going to stop investing. And so then you start to see the slowdown. Then when it slows down, there's less tax revenues because people aren't spending as much. So property taxes come down if people aren't being hired and they can't afford houses. Income taxes come down as they're not working.
• 22:51
  Sales taxes come down as people don't spend. Right? So now the government resorts to an inflate or die scenario. There's no tax revenue, so we're just going to print our way out of it. So all of this starts to happen when you get that parabolic growth.
• 23:07
  That's why these trends are the same in the Great Depression in February and now. Those charts look the same because it's all a function of people. It's a function of perception. It's a function of how sometimes markets just get exhausted. It's not anything other than we're not conspiracy theorists.
• 23:30
  We're not saying that it's just that this is a normal trend. It was a normal thing to be overbought in 02/2009. It's a regular thing to be overbought in February. And those markets need to correct. This market should have corrected a while ago, but it didn't because the Fed had cheap money, cheap They kept pumping it, right?
• 23:52
  Well, it's time to pay the piper. I mean, that's really where we are. And so when you analyze these trends and you look at them and say, this is just a normal thing. Therefore, I'm gonna identify the fundamentals that caused that trend. And if they're strong and solid, which they sadly are in the wrong direction, I'm getting out.
• 24:13
  So safety wise, I would get out. I'd get out of stocks. I would get out of bonds. I would go into things like gold and silver because they're tangible assets. They the same fundamentals that cause decline in the paper markets are the same ones that cause growth in the physical markets.
• 24:30
  Speaker 1: Yeah. And that's and that's really the big question. Because I think that, you know, in talking to Aaron, he said, look, the whole market's driven by two emotions, fear and greed. It's like, okay. You know, fear of losing out, fear of, you know, fear of losing your money, greed of wanting to make more money.
• 24:46
  It's all, you know, fear and greed. And I think that right now, especially for people that look you know, if you look I've looked at the news on the markets, they say, oh, you know, job report comes out. The market's down, you know, 500 points. Well, it's like, well, Aaron called that ahead of time. Is it is that just a a small thing you're saying on the surface?
• 25:01
  You know, because the people that really see what's happening, they see there's a bigger pattern that's leading somewhere. And so I think that for a lot of people that are really more tuned in, which I I would hope to believe a lot of my audience is, that they're looking at this, they're saying, oh, man, what do I do? And my concern is that folks are now getting into that fearful state. And that's what, like, I want to try to be really realistic about what's happening in the world and to say, look, like, I'm not encouraging to bury your head in the sand, but I also don't want to be have everyone just, know, running like it's a burning building. And so how do people in a situation like this for someone that maybe has their stock, you know, their their four zero one k, you know, they got savings and pension, etcetera, what do they do to, a, take some necessary steps to really make sure that they're securing themselves properly, but b, just to release that fear, to be able to get over that fear through the right kind of action.
• 26:00
  Speaker 2: Yeah. So the answer is actually easier than what people would think. But you said the word pension, and I'd be remiss if I didn't bring it up. Bank of England, horrible financial pickle that they're in right now, so much so that they're doing margin calls on an Englander's pension plans. This is unheard of.
• 26:23
  It's almost like criminal type activity. So even people's pensions that they've worked their whole life, that should be safe, right? It's not. Because when banks start to run out of money, when governments start to run out of money, they start to do crazy things. Right?
• 26:36
  So just wanted to add that in there because you said the word pensions and it made me think of it. But but here's where we where do we go? And if you've got these pensions, these four zero one k's, these things are eroding and you're operating out of a state of fear, like what Aaron said, do not operate out of a state of fear because fear paralyzes or causes you to make a wrong decision. Right? So let's let's kick that spirit out and and use sound mind and wisdom and and discernment.
• 27:06
  Right? And so with a clear head, it's like, okay. These are the fundamentals that cause this growth. These are the fundamentals that cause things to go down. So get out of number one, get out of the things that are coming down.
• 27:19
  Would sell your stocks, sell your bonds, get out. Because like what David Stockman said or what what Aaron said, what other people have said, these markets are gonna correct and they're gonna correct huge. Right. I'm using the word collapse, not correct. Collapse is a better term because it's going to take a while to rebuild.
• 27:37
  Right. So. So. A crash. Imagine you're in a car.
• 27:44
  You crash your car, right? What happens? Ambulance comes, the tow truck comes, pick it up, it's done. Just crash, you move on. A collapse would be more like the 09:11.
• 27:55
  You know, the towers coming down, huge catastrophic event, rubble everywhere, takes years to rebuild. So this is a difference between a crash and a collapse. I'm thinking this is a collapse because the whole structure of the global economy needs to rebuild. Right? Get out of that by going into tangible assets.
• 28:16
  Tangible assets grow during inflationary times, which is what we have. Inflation is nothing more than governments printing money like there's no tomorrow. Devaluing it causes inflation. So gold, silver, but primarily silver.
• 28:30
  Speaker 1: Why is that?
• 28:32
  Speaker 2: Well, number one, there's three quick reasons. Historically, there's a ratio between silver and gold. How many ounces of silver does it take to buy one ounce of gold? Okay, that number is 20. Well, with gold, let's just call it somewhere between 1,700 and $1,800 an ounce.
• 28:54
  Divide that by 20. That should put silver to around $90 an ounce. It's not. It's less than 20. So it tells us silver is undervalued compared to gold ratio wise.
• 29:06
  Number two, you've got the even in a sluggish global economy, or it's horrible global economy, right? You still have industrial demand for silver because it's used in all forms of electronics. So That's
• 29:18
  Speaker 1: destructive too, right? When they take that silver out of the ground and you can't reclaim that silver like jewelry, where you melt down the gold or whatever. Right?
• 29:27
  Speaker 2: Right. Because when it's used on electronic circuitry, there's lot of toxins in there, right? It's environmentally damaging. You can't reclaim it. It's done.
• 29:34
  So 1,200,000,000 ounces of silver is used for industrial manufacturing this year. 2,000,000,000 ounces is mined. That's only 800,000,000 ounces left for investors globally. So this is at a sluggish economy. Imagine if it were growing.
• 29:53
  The industrial demand for silver would be sky high. So you've got supply chain disruptions, low inventory, high demand. That causes prices to go up. Right? And then thirdly, when when we call in every single day and we're calling it depositories and locking in silver, the one that I look at the most is a thousand ounce bar of silver because that's what's used for manufacture.
• 30:15
  They don't melt down one ounce pieces. They melt down these big 70 pound bars. Well, a 70 pound bar is actually never or a thousand ounce bar is never a thousand pounds. It's a range from 920 to like a thousand 80 because they just pour the hot metal into a form. Right?
• 30:32
  And then they weigh it. They get close enough and then they weigh it. Let's say it's 992.65 ounces. That's all you pay for. It has a serial number and everything.
• 30:41
  Well, the range is now squished. So it's been squishing and squishing. So now really all that there's left is like nine forty five to nine eighty ounce bars. What about all the others? There's just not an awful lot left.
• 30:57
  Right? So that tells me that that supply is really, really, really diminishing. And so you add to that so we've got what? We've got industrial demand. We've got large investor demand.
• 31:12
  We've got supply chain disruptions. We've got the ratio between gold and silver. And you've got also this third element of just people that are concerned that the banks are going to run out of money and they need something for barter. Right? Gold isn't good for barter.
• 31:34
  It's too expensive. Silver is perfect for barter. Right? All of like the one ounce pieces, the small fractional sizes, right, they're going away. So you add all of this up and all I did was build support as to why, why, why silver matters and why we're we're heavy into silver and not gold right now.
• 31:55
  And don't get me wrong. It's not that I dislike gold. I love it. Right? But if we allocate into silver, leverage that higher growth, Let's say that ratio comes from 85 to one to 40 to one.
• 32:08
  That's half. And we sell our silver then a year, year and a half down the road. If it gets to that ratio, then we go into gold and that's half the ratio. That means I could get you twice as much gold then as I could have purchased for you today. That's free gold.
• 32:22
  Right? So there's there's rationale, sound advice, and strategies that when we talk to people, we map out these strategies to get out of the path of the hurricane, to safely navigate to safe ground, and build a plan for their future financially that'll stand the test of time, right, given the economic landscape that we're living in.
• 32:46
  Speaker 1: Yeah. And so, Kirk, I know that you're you're quite tight on time. I have one final question for you. In 02/2008, which was this pretty significant crash, I remember, you know, experiencing every day, it was like, oh my gosh. It's down 800 points, 700 points.
• 33:00
  You know, it was catastrophic. What happened to the price of gold and silver during that? Because to me, as I'm if I'm looking at this and I'm looking at you know, for me, I'm not a stock guy. Have never have been. I'm not a crypto guy.
• 33:13
  I'm actually a gold and silver guy, which is why I feel comfortable having this conversation with you because I'm not trying to sell people something. It's like, I believe in gold and silver at the core of my bones. I have for, you know, over a decade. But if I'm looking at what's kinda what's potentially coming, I want to look back and say, okay, what happened in 02/2008? If I was holding, say, in 02/2008, I moved all my money into $100,000 just in gold and silver.
• 33:37
  What happened to that after the first six months or a year?
• 33:41
  Speaker 2: Well, there's intermediate trends, right? And people say, well, Kirk, the silver is not that much higher than it was then, right? But I wasn't in it the whole time. There's times when you lock in your silver and you take those profits, you roll them into gold, you lock in your profits and gold, roll them into silver, right? But it was around 2010 right after that.
• 34:01
  Right? I remember silver went from about $12 an ounce to close to $50 during that one time. I mean, that's that's what? That's quadrupling. That's a 400% gain in a very short period of time.
• 34:17
  It was less than a year right now.
• 34:20
  Speaker 1: So if in 02/2007, you took $100,000 out of the stock market and put it into silver, you would have had close to half a million dollars a year later versus having, you know, $40,000.
• 34:33
  Speaker 2: 40 percent less instead of having
• 34:35
  Speaker 1: 60,000.
• 34:35
  Speaker 2: So if you had 100,000, stock market came down 40%. So you'd have about 60,000 versus 100,000 in silver, it grew to probably about 400,000 during that time, you lock in those profits, right? You don't ride something up and then ride it back down. There's signals that you look at to buy and sell, right? And so take that, roll it into gold.
• 34:57
  What did we just do? We locked in profits and silver, rolled it into gold, and then gold went up for a while, locked in your profits and gold rolled back into silver. You're compounding your ounces every single time. This is how people should start measuring their wealth, not necessarily in their paper. You know, what's it this Schwab statement say that I'm worth?
• 35:17
  Measure your wealth in number of ounces owned, right? Because in time it'll Oh, man. It's a long story that I'm going to make really, really short, right? Because it's Don't just look at it for the growth, which is amazing. Look at it as the insurance policy against a collapsing dollar that precious metals bring you.
• 35:39
  The example of that is in the 1920s, gold was interchangeable for the for the dollar, right? A $20 bill equaled one ounce of gold. You could go to Sears, Woolworths, the bank, wherever and exchange it back and forth. It didn't matter. They were convertible.
• 35:56
  Well, what did it buy you? It bought you a finely tailored men's suit, a shirt, a tie, belt and shoes. That's what it bought. Fast forward to today. Brother, you can't even go to Applebee's for $20 on a date.
• 36:10
  You can't. But that what is so that's what the $20 would buy you. What does one ounce of gold buy you, which was convertible back in the day, right? At $1,800 an ounce, show a diamond tailored men's suit, shirt, tie, belt and shoes. It's maintained its purchasing power parity over that time.
• 36:26
  That is your insurance policy against a collapsing inflationary currency, right? But it's doing more than that. It's growing and it's amazing. So but look at it both ways. Look at it as your insurance policy.
• 36:40
  Look at it as growth. Either way, man, you got to invest in precious metals during these inflationary times. And it's easy to do so in an IRA or non IRA, right? An IRA, it's not paper. It's not a stock.
• 36:56
  It's not a mutual fund. It's not an ETF. We just do a rollover into an IRA custodian that allows for physical holdings of gold or silver coins or bars. Thousand ounce bars, hundred ounce bars, 10 ounce bars. Don't ever do paper.
• 37:11
  Don't let your advisor trick you into saying, I know you want silver, but we can do it through this ETF. It's like, really? Would you want an ETF that's managed by BlackRock and his JPMorgan Chase?
• 37:21
  Speaker 1: I want this right here.
• 37:23
  Speaker 2: You want that?
• 37:24
  Speaker 1: Yeah.
• 37:27
  Speaker 2: So that's easy to do in an IRA. And outside of an IRA, the mechanics are even easier. You wire the funds. We call you, say the funds arrive, confirm your address, and we ship it to you. Or you set up a depository account if you don't want delivery at home because of logistics.
• 37:43
  It might be too bulky, whatever. The process is so easy. And what I want to do, again, goes back to people over profit. Right? I want to make this process, the transition easy, the burden light.
• 37:57
  Our team will take care of everything other than filling out a couple of forms that take like fifteen or twenty minutes. But the goal is we wanted to eliminate every hurdle that comes up for success for people doing the right thing because And I get it. I get what's going through people's minds, right? It's like, this is scary. I don't know this guy, Kirk, that Seth's talking to right now.
• 38:21
  It's a huge leap of faith. It is. And I get it and I understand it. And so here's what I would encourage your viewers to do is call us. We'll map out the stretch.
• 38:34
  It doesn't mean you have to do anything. Right? But what we what we want is for you to take that leap of faith, get out of stocks and bonds because a normal adviser will say, hey, when stocks stink, you go into bonds and bonds stink, you go into stocks. What about when they all stink at the same time? Which is what's happening right now.
• 38:53
  Right? It's not that they're evil. It's not that they're dumb. It's not that they don't care for you. They just simply don't have the right tool for the time that we're living in to successfully navigate through what I believe is going to be the wildest, worst transitionary economy that we've ever seen in this country.
• 39:17
  Because the end result, I believe, is probably going we could do a whole show on this another currency system, a change in the way that banking is done, Right? Not just here, but globally. This is all happening right underneath our nose.
• 39:32
  Speaker 1: Yeah. And if you see the BRICS nations, Russia, etcetera, doing gold backed currencies, it shows you that they're trying to hedge against that. So so Kirk, thank you so much for taking this time with me. I know that a big part of what you and your team do is just free consultations where someone can call in, and you'll just ask, you you or your team of advisers will ask, okay, where are your assets at? What are your concerns?
• 39:55
  You know, what do you want for your children? You go through a whole process of really understanding people. So how can folks get ahold of you?
• 40:04
  Speaker 2: So website is a form that we put together. It's for you. So Kirk Elliott PhD dot com forward /Seth.
• 40:12
  Speaker 1: Actually, Kirk, even goldwithseth dot com takes people straight there.
• 40:17
  Speaker 2: For you.
• 40:17
  Speaker 1: Yeah. Yep. So just goldwithseth takes people right there.
• 40:21
  Speaker 2: Goldwithseth.com. Go there. Or you can simply call our office, which is (720) 605-3900. Just say that Seth sent you. And really, those two things will get you set up with a consultation ASAP because we don't want to When you've made a decision, don't let the dust settle.
• 40:47
  Right? When you're on the edge, don't let the dust settle. Just find out what you need to find out. Because in the meantime, you've got Bank of England failing. Credit Suisse is is having major problems last week, last Friday.
• 41:02
  They had capitalization issues. Their stock came down 10% in one day. This is a big national bank in Switzerland, right, that had to issue credit default swaps, highly leveraged derivatives as an insurance policy against bank failure. It's like this is happening right underneath our nose. The way that you inoculate yourself from that and protect yourself from that go into tangible assets that don't evaporate.
• 41:26
  They're always there. They are real. They are things, and that's your insurance policy against collapsing banks. So so 7206053900 Or go to the link, Seth, that that
• 41:40
  Speaker 1: and what's that link? Gold with Seth. And and those are in the description below the video. Right? The phone number and the and the link.
• 41:46
  And and, again, I just wanna remind folks, I am honored to work with Kirk Elliott and his company. And he, know, through this relationship, he's helping support me to help keep me on air and help me to grow, because he really believes in what I'm doing. Right? You know? If I was some person pushing, you know, gender theory and critical race theory, could probably have Nike as a sponsor.
• 42:07
  Right? But unfortunately, you know, we're the ones that are speaking against, you know, all that. We're the ones that are really going against the current of society. And Kirk has really made that possible for a lot of folks. I really appreciate that.
• 42:18
  And, again, I have a lot of trust and faith in Kirk and his company and what he does. And there's a lot of people that they come, they want to work with me to say, wow, you got you've got a great audience. I don't want to work with these people. I don't know. I don't whether they're pushing crypto or whatever it is, I'm so I'm so careful, because I really value the trust of the people that come to me and understand what's happening in the world.
• 42:39
  And I would never recommend anything or anybody that I don't believe in myself a %. So I just wanted to just end on that note. And Kirk, I know we went way past the time, but I really, really appreciate you being here today. I hope that we can start doing maybe a weekly update like this, because I think that things are changing fast now. And for a lot of folks that are looking at this and saying, okay, how can I make sure that, you know, in three or four years, I still have most of my wealth, if not more, to make sure that my kids are taken care of, my grandkids are taken care of, and that I'm not, you know, in some bread line showing a a vaccine passport on some sort of central bank digital currency?
• 43:14
  We gotta we gotta avoid that at all costs.
• 43:16
  Speaker 2: Right. We do. We absolutely do. So I'd be I'd love to do that. Let's do it again next week.
• 43:22
  Speaker 1: Alright. Great. Well, Kirk, thank you so much. It's a pleasure having you. And we'll talk next week.
• 43:28
  Have a wonderful weekend. And for all you watching, thank you for being here, and I'll just keep at it. Thank you so much.
• 43:35
  Speaker 2: Bye bye.