One of America’s Biggest Gold Wholesalers Exposes the Most Common Gold Scam Enslaving the Country

Well, gold and silver prices are out of control.  Have you seen this? Have you checked the spot. price for gold? It is at an all-time high in  world history. Why is that? Well, cuz it's the. new global reserve currency. That's why countries  are moving away from the dollar. And they're doing. that because our national debt is exploding.  The dollar has been used as a diplomatic weapon. And in general, confidence, we say this with  great sadness, in our financial system is. collapsing. People know something is wrong and  they're looking for safety. And gold and silver,

but precious metals broadly have been a reliable  store of value since the beginning of recorded. history. And people know that they're tangible.  They can hold in their hands what they own. And in. moments like this, they want to. So gold is more  important than it's ever been. No, it's not an. ancient phenomenon. It's a very modern phenomenon.  And for the time being, it's the future. So,

we were not surprised when multiple gold companies  reached out to offer us money. In one case, nearly. $20 million a year to pitch their products. And  we're totally for it. We love gold. Always felt. that way about gold. So, why would we work for a  gold company? But $20 million to market gold? Wait. a second. Isn't gold a commodity whose price  is set on the international market? Can't you. check it anytime you want on your phone?  How could these companies afford to spend. $20 million on one guy for one year of selling  their product? Well, the answer is obvious because.

it was a total scam. They weren't selling gold  as a commodity. They were selling it to customers. based on the promise that it had real value, but  they were selling it for like twice its actual. value. They were come up with gimmicky schemes  like, "Oh, it's a commemorative coin." No, no, no. Gold is a commodity and almost all of the time  the value of your gold coin is the weight of the.

gold in it. It's not whatever image is printed on  the coin. So, they're ripping people off. And what. was happening, what is happening right now is that  people, a lot of them old people are buying these. commemorative coins for like 150% of the spot  price. And then when they try and sell them, they. realize they can't get their money back. They've  been scammed. These companies are making a ton of. money and that's why they could afford to offer me  20 million bucks a year. We wanted no part of this.

at all. Wouldn't mind the 20 million bucks, but we  turned it down because that's wrong. So instead, we thought, well, wait a second. This country  needs an actual retail gold company that sells. a couple points above spot for overhead but in  a transparent way and makes it easy for people, average people to buy gold and have delivered  to their homes if they want physical delivery. So we decided to do that. We reached out to one  of the biggest gold wholesalers in the country,

someone we had mutual friends with and we found  we could trust, a man called Christopher Olsen. We've been buying gold for him for years actually.  And together we launched a new company called. Battalion Metals. It's a truly honest gold  company. We're not going to say the only, but definitely one of the few that gives ordinary  people, investors, full transparency and the. lowest markups possible. Few people know as much  about precious metals or have traded in them as. long as Christopher Olsen has. No one in the  space operates with greater integrity. He's an.

amazing guy with an encyclopedic knowledge of the  topic. He's been his whole life. We recently sat. down with him where he shared some of his insights  that every investor, big or small, should hear. We. think, especially now that gold buyers have been  vindicated. Boy, have they been. It's crushed the. stock market over the last 20 years. We think  now you will find this conversation especially. interesting and we hope valuable. Just to note  the obvious, this video was pre-recorded. So, the values we assigned to gold are set by the  market. It's the spot price and they were accurate.

when we recorded them. Are they accurate now?  Well, to find out, visit battalion metals.com. Chris, thank you for doing this. Absolutely. So,  I was think I was thinking about it last night.

You're one of the biggest gold wholesalers in the  United States. Definitely one of the biggest. Um, you could be doing other things. Uh, but you're  you're really interested in gold. The fact that. you're in this business is a little weird if you  think about it because gold is the most primitive, the longest standing, the oldest form of exchange,  medium of exchange. And it's like the only thing. left from antiquity. You're not a chariot builder.  That would be absurd. There's no use for chariots.

But like the one thing that connects us to the  past going back through recorded history is. gold as a medium of exchange. Why in this sort  of hyper progressive moment where, you know, we're building AI and visiting Mars, why in  the world would gold still be relevant? Well, within society, unless you want to have a barter  economy, you have to have a form of money of some.

kind. And money requires certain characteristics  in order for it to be good or useful as money. So, you couldn't use sand or seashells. And in the  past, we've, you know, used lots of different. types of money like uh beaver's tails or pelts or  tobacco. But with gold, you have something that is. it's durable, it's portable, it's divisible, it's  fungeable, it's recognizable, it's scarce. So it.

it there can be enough of it to satisfy everyone's  demand. So it has has a certain uh level of value. just intrinsic to the characteristics of the  element. And if you were going to look at say. the periodic table of elements and and figure  out which of those is going to be suitable or. ideal for money, the only two that really shine  are gold and silver compared to the rest of them.

So over the course of history, it's been a natural  progression for societies to adopt gold as a. medium of exchange simply because it it has those  hallmarks and those characteristics that allow. it to uh be useful as a medium of exchange and a  store of value. And it's when you you go away from. that that you begin to have the horrible problems  in society that that come about through inflation.

or the artificial creation of credit. Uh because  when you do that, you're you're essentially. conveying arbitrary power, purchasing power to  entities that didn't really earn it. So, it's a. form of counterfeiting to uh build on top of that  to counterfeit gold or create paper claims or to. inflate a currency that's backed by gold. All of  those things are fundamentally lying and they're. fundamentally stealing. And so, in inflation  causes horrible effects within a society that.

nobody can really diagnose or pin to inflation,  but it's really at the root of those things. and. it causes the uh gradual centralization of power  towards uh those that are able to issue a currency. without any tether to reality or to manipulate  the rules of the system. And so uh for example, whoever's closest to new money within a society uh  has more purchasing power than the market expects.

that they should have because the signals haven't  gone out that there's excess money in society. So. prices don't change and that's ultimately where  inflation comes from and over the decades. I'm. sorry that is such an interesting point that  I've never considered. The people who are closest. to new money have the first mover advantage  effectively like there will be inflation but the. system doesn't know it yet and therefore they have  more money at lower prices than everyone else is.

going to have. Is that what you're saying? That's  the real power in it. See if if everybody say you. lived on some desert island and everybody had a  fixed amount of money in their accounts and on. that island you had a well-established economy and  there were prices that were pretty stable and some. magical event happens overnight where everybody  wakes up and the amount of money in their accounts.

has doubled. But it's doubled evenly for everyone.  And if they were to collectively understand that. together, they would realize that the prices of  everything should also be doubled. So just because. you've doubled the amount of money in circulation  doesn't mean you've doubled the amount of goods. and services or actual wealth. You've just doubled  the claims on wealth. Right? So in that case, nobody has an advantage because everybody  has equally doubled the money supply. and.

they all know it at the same time. Prices  double and nothing's different. You just. have more money and higher prices. But if just  a few of those people were to get extra money, then the prices wouldn't change and other people  wouldn't understand what was happening. So the. market that determines prices uh would not be able  to um detect or prevent what's basically a hack in. a sense. It's it's allowing people who haven't  earned a claim on those goods and services to.

take them arbitrarily. And that's why they call it  fiat money because it's by fiat. Simply, I say so. And that's a real problem. Well, this country's  250th birthday is right around the corner. And our. friends at Black Rifle Coffee are celebrating the  right way with bold roasts made by veterans who. love this country and live its values every day  of the year. Black Rifle makes coffee for people. get up early and work until late. We drink it  late, by the way. Best at night. It tastes great,

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received from any economist. So, I kind of want to  just call you an economist now. Um, I doubt you'd. accept the term. Um, can can I don't want to be  degressive, but I can't control myself on this. You were saying that from the beginning of time,  gold was used as a media exchange because of its. inherent physical properties, right? But I  also find it interesting that gold was used. was considered valuable and used for trade on  every continent on earth before we believe there.

was any communication between those continents. So  separate civilizations, the Egyptians, the Mayans, the Incas, ancient African civilizations, every  basically every civilization before again there. was any contact between civilizations all  decided of all the metals and elements out. there were using gold. Mhm. The first and second  temples were adorned with gold, etc., etc., etc.,

right? It almost feels like there's a metaphysical  thing going on. I mean, I don't know the answer, but have you ever thought of that? Definitely.  Yeah. I I think all of reality is symbolic and. I think gold symbolizes something. So it it  seems like it's, you know, baked into the. fabric of reality itself that if you're going  to need money, if you're going to have money, then you're you're going to need something that's  suitable to it. And it's it seems like quite a. coincidence that you happen to have two elements  that fit that bill so well. And it would explain.

why but that everybody recognized it thousands  and thousands of years before the internet. I. mean independently. Yep. What are the odds? Yeah.  The odds are astronomical. And I think that's why. that that explains why that would happen. If if  it's basically encoded into reality in a sense, a symbolic a symbol of wealth that's meant to  be viewed as such, then you you would imagine. that people would discover that. The ancients were  very very smart. uh ancient civilizations were not.

necessarily as ignorant as we might think they  were. Well, we're we're coming to learn that. I. I don't see anybody building megaliths now. I  see a lot of poured concrete garbage. I don't. see any megaliths. So, clearly they were more  sophisticated on many levels than we understand. Um okay. So, uh, I've talked to I talked about  this last night at dinner, but, um, I think. because you have been in this business your entire  life, you're major player in the business. Um,

you spend your life with people who understand  the value of gold, but outside of your world, gold is constantly attacked, constantly attacked  and derided as an investment for unsophisticated. people. um for the dummies, for the crazies, for  the paranoids who think societyy's collapsing, don't believe in the US dollar or whatever.  And so I asked you last night to look up the. performance of gold relative to let's just  pick the markets, the S&P standard report,

500 biggest companies in the United States.  That's like a widely used measurement. Um. the performance of gold was it it beat the market  by almost twice. Am I making this up in my mind? Well, if we look at uh performance over the  time period from say January 2000 until today, 25 years. Yeah, 25 years. You see gold up roughly  a little over a,000%. Whereas the S&P is up less.

than 400% over that same time period, including  dividends. So, it's clear that there there's. something more happening with gold. Can you say  that one more time? So in the last 25 years, if. you bought an index fund, you just or let's just  say strictly speaking, the performance of the S&P. for the last 25 years and 2 months has been what?  It's up what? Something less than 400%. And gold. is up what? Over a,000. Okay. Over 25 years. This  is not just like some, you know, because there's.

been a run on gold recently. The spot price has  risen a lot to record highs. So, anyone who says. gold, and I know like Warren Buffett or all these  other geniuses are like all against gold, but like. actually if you'd gone in all in on gold 25 years  ago, you'd be more than twice as rich as someone. who just kept it in the markets. That's what  you're saying. Yep, definitely. Okay. So, so like. why didn't I know that till last night? Well, it's  it seems to have been a policy objective of the.

United States government to uh discourage the use  of gold uh and to suppress its price relative to. the dollar in order to maintain dollar dominance  on the world stage. And that dollar dominance has. been the primary means by which we've been able to  live well beyond our means and command a military.

budget that's larger than any other country on  earth. And if gold is a competitor to the dollar, gold is really it it serves as a barometer of the  health of the dollar as well. And there have been. multiple times in recent history that uh gold  has risen precipitously or silver against the. dollar. And whenever that happens, it's it's  it's a threat to a a debt-based system to see. real assets appreciating against the currency in  that way. So, uh, additionally, you've got other.

foreign governments that are holders of gold, uh,  central banks, and if you can suppress the price. of gold against the dollar, you can also suppress  the purchasing power of those governments against. your own. Um but what we see now, especially  since uh 2022, um with the sanctions that were.

placed on Russia as a result of the Ukraine  invasion, uh the US Treasury debt is no longer. a neutral reserve asset. It's not safe from a  national security perspective for countries to. uh rely on dollars or to expect that they might  not be seized or sanctioned. And so so this is. the problem with sanctions on Russia stealing  people's stuff because you don't like their. politics. Yeah. It was a huge mistake to do that  because suicide. Yeah. Because it it really has.

literally threatened this dollar dominant system  of world trade. And I'm not sure why the Biden. administration would have been interested in doing  that. It seems like they set out to systematically. destroy the United States. Yeah. There's no I  I you know I I don't care what people's stated. motives are. I care about what they do. And if  everything they do points in the same direction, that's the motive. Yeah. Don't look at what they  say, look at what they do. Well, that's exactly.

right. The point of a system is what it does.  Exactly. And the point of the system they created. was to destroy the United States, to knock it  from its perch, to degrade it, to break it apart. and um destroying the dominance of the dollar  was something as insane as their reaction to. a war that they started on purpose um  between Russia and Ukraine just tells. you everything. But where does that leave  us now? Well, there's a a process underway. um that many people refer to as ddollarization  and a lot of it centered around BRICS economy.

and uh you've even seen President Trump talk about  threatening sanctions on these countries. I think. 100% sanctions if they attempt to move away from  the dollar. So he's obviously been advised as to. the the threat that that poses to um US national  security or foreign policy objectives. But there. there's a distinct move to look for a neutral  reserve asset that can be used to settle balances.

of payment accounts between various countries that  are trading with one another. And uh historically. it's been dollars and treasuries for decades  now as the world's reserve currency, but now. they need an alternative. And the only alternative  that's ever truly existed has been gold. Um, some. people talk about maybe Bitcoin could serve that  purpose and I mean on some theoretical level maybe. it could but it's also got a a number of security  issues and technical infrastructure problems that.

many foreign governments based on electricity  okay and people have to generate electricity. all of this stuff is based on electricity and all  of it AI our whole life is based on electricity. and electricity is like a little over a hundred  years old in its current form. So like this is a. pretty new technology and it can be taken  out really really quickly. So that's just. a fact that no one ever wants to say anything  about. But like an EMP attack like eliminates.

crypto and the internet and AI and you know what  I mean like it's all sort of transitory actually, right? And it's also not not as private as one  might think. Well, yeah. So you you have the. blockchain where every transaction is public as it  has to be. Yeah. Um, and and so gold is really the. original cryptocurrency because I can have value  physically, transfer it to you, and truly nobody. knows about it because it's it it doesn't need  to happen on a blockchain. The gold is the gold.

How hard is it to transport it privately? And  by the way, I should say I think you and I are. both starting with the assumption that it is  not a crime to have the fruits of your labor. So, it's a crime to steal, of course. It's a  crime to defraud people. But if I've earned money, I have a right to have it. You have no right to  know where I have it or what I'm doing with it as. long as I'm not doing something illegal. And so,  like, let's just say that's our core assumption.

All this moneyaundering nonsense, which is  really just a way to control our population, not to stop moneyaundering, which is the basis  of our government in the first place. All right? So with that in mind, it is it is not only okay,  it's virtuous to have money in a in a in a private. form that other people can't see or control.  That's okay. It's okay cuz you're not a slave. You're an autonomous person. With that in mind,  like how hard is it to have gold, to move gold, to transact with gold outside the view of other  people with privacy? It's very easy to do. And I.

mean, you you you hit the nail on the head. It's  private money. Uh is it's it's a foundation of. human liberty, of freedom. They're trying to make  you feel guilty about it. What are you into kitty. porn? Right. Says the kitty porn guy. Exactly.  Okay. You know, and and and so it's directly. linked to your sovereignty as as individuals,  as nations, as families. Um, but to to transfer, you know, you could move a million dollars worth  of gold in a package that's going to weigh about.

35 pounds and and be about, you know, about that  big. That's a million dollars worth of gold. So, a little smaller now. Yeah. Yeah. It just keeps  getting smaller. The value keeps going up, right? Which means it's a denser store of value than it  was. Exactly. People worry about the safety of. their home now more than ever. Simply Safe is an  amazing solution. And with the early access Black. Friday sale upon us, there's never been a better  time to protect your house, your family this way.

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the kind of safety you want. So, um, is it hard  to move it across borders? um most uh you know you. have to declare it whenever you're uh importing  or exporting metal into other countries like you. would have to declare any type of good. So there  are uh laws for customs uh in in every country. So.

um you're going to declare it but it's uh in  in the majority of nations around the world. uh importing pure gold is not going to be taxed.  They're going to allow it. They're going to. facilitate it. But uh so there aren't tariffs on  gold generally. No. Huh. In in most Why? That's. interesting. Well, it's uh every country has need  of it. Every population has demand for it. So. uh it's it's in the interest of nations to allow  their populations or their governments or their.

corporations to be able to obtain it for the  purposes they need it for without making it. uh artificially expensive. let the market  determine the real value of it. And so that's. the purpose of gold. And so that's why nations  give it that favored treatment because it's a. it's a form of money as it always has been. You  don't tax uh money that's crossing borders. You. you don't put a tariff on euros or a tariff on  dollars. You want the money to be able to flow. because it's good for trade. And the same  is true for gold and silver in most cases.

So with that, obviously without betraying the  privacy of any of your clients, but you and. I should just be clear about one of the things  that you do is supply gold to people, you know, like someone wants gold, I want $10,000 worth of  gold, I want $10 million worth of gold, and you're. one of the people, aren't that many actually,  who can come up with it reliably, and you send. it to them. Who's buying gold? Like categories  here, not people of course. Well, in general,

retail investors buy gold. uh hedge funds, family  offices are interested. Absolutely. Yeah. Even. though you are a key player in some sense in  the country's financial system actually because. gold is a part of that system. Um you probably  are not watching a lot of CNBC, right? I don't. have much time for mainstream news. There there  are many mainstream investors in gold. Many very. intelligent uh adviserss are constantly advising  for it and have been for a long time. And I think. it it's always been kind of a standard ad piece of  advice amongst uh wealth managers and advisers to.

have say 10% of your portfolio in gold. That used  to be a standard recommendation. It just because. it's always been understood to be a hedge against  inflation and volatility. Uh you know it's it's a. an asset that moves contrary to other assets. So  it's a way to balance a portfolio to some extent. Where does it come from? Well, I want to buy I  call you and I say, which I'm not going to do.

because I can't afford it, but like I want to buy  $100 million worth of gold. Y you might I have no. idea if you have that like on hand. Um but if you  don't have it on hand, where do you get it? Well, in the the the gold market uh internationally uh  is is primarily operated through exchanges such. as the COMX uh operated by the CME Group out of uh  New York. Uh the London Bullion Market Association.

in London, uh the Shanghai Gold Exchange, there  are other gold exchanges in say Russia and in. India as well. And so that's where the bulk  of the trading occurs where they're clearing. hundreds of millions of dollars every single day  uh in contracts and that's being fed uh primarily. by uh refineries who are purchasing the the gold  from mines uh and and also are trading gold that.

already exists. So that's that's the major source  of gold and that's usually in the form of uh large. exchangeraded standardized bars in bulk like the  COMX contract here in the United States is settled. in a 100 ounce gold bar and so that would be  a single futures contract that uh firms like. us would purchase or other people who need to buy  and sell futures contracts will purchase that type.

uh of a commodity. From that point, uh, bulk gold  is taken and it is, uh, further processed into. smaller coins and bars by private mints and by  government mints specifically for the purpose of. making it available to people that want to buy it  in formats that are useful to the average person. And so that the primary source is going to be  uh you know big banks, funds, uh ETFs that are.

trading uh mines and and uh also the secondary  market where there's whenever there's a large. amount of liquidation that's happening if there's  more than the retail market can absorb of retail. dealers, let's say. And and I'm referring to that  as just the the non uh exchange traded markets. just this is the the open market in the United  States for example. Uh if people sell too much. um as they have been uh for the last year and a  half uh what that market needs to do then is uh.

absorb all of that selling pressure. And a lot of  times they'll have to uh send it to a refinery and. have it melted down so that it can be cast into  uh formats that can be delivered into the futures. markets where there's deeper liquidity, there's  more money to absorb the purchasing power uh or.

or the the selling demand uh of of the market. So  you you even the secondary market will at times. be feeding back into that. So there there's a lot  of plumbing internationally that provides for the. uh efficient flow of precious metals and price  discovery and trade execution and settlement. It's a very wellestablished system that operates  internationally and without too much friction. Yeah. Yeah. there's there's always a little bit of  friction involved when it comes to uh stuff that's.

when you're moving precious metals or changing it  from one form to another. So the the least amount. of friction is going to be like unallocated pool  positions in London, but that's also the highest. amount of risk. So it it's always a trade-off. uh  if if you want to derisk it a little bit, you'll. get allocated bars. But now that means that you've  moved it out of the unallocated pool. You've. gotten serial numbers and it's in another section  of the vault. That's going to have some friction.

But if you want to further take possession of  those things, now it has to flow out through. uh dealers and operators that can take possession  of those big bars. And now you're you're hiring. armored cars. You're insuring it. You're financing  the position that you have to carry for a period. of time. That costs you interest and opportunity  costs with your capital and you'll have to then. reformat the big bars into smaller coins and bars  and that requires capital equipment and labor.

uh other inputs. And so uh there is friction to to  move it between the major sources of liquidity in. the in the different markets. And so as you're  doing that, that's where actually the premium. comes from. So when when you look at say the  price of gold that you see on your TV screen, the reason that you can't buy it for that price  from a dealer of coins or bars is the product. that they're selling. Well, it's based on that  price. It's got multiple layers of friction that.

have been added into that product, of course.  And so that's where the premium because it is. a physical product. It's not theoretical, right?  It's someone has to actually put it in, you know, has to melt it and that's all friction. Yeah. But,  you know, if you if you wanted to buy gold at the. spot price, the only way to do that is to actually  buy futures contracts on the commodity exchanges, which is where that price is being ultimately set.  But that's usually not the best option for your. average investor. You don't have possession and  control of it. And if you want to take possession.

and control of it, you're going to add some  friction back into the asset. What percentage. of your customers take delivery have it sent  to their homes? Uh well technically 100% of our. customers take delivery as it's strictly defined  under the law which means it leaves our possession. and it's going to go to either a qualified  depository uh that's acting as an agent of. the customer or it's going to go directly into the  possession of that customer physically. So uh we.

you the percentage that takes it home and you know  buries it somewhere in their backyard or wherever. uh it's it's probably North of 50%. Really? Yep.  Like real amounts of gold. Real amounts of gold. and silver. Damn. We've got a new partner. It's  a company called Cowboy Colostrum. It's a brand. that is serious about actual health. And the  product is designed to work with your body,

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heard it here first. What's interesting about is  it doesn't if you do that it pays no dividends. So you got to really believe in it, right? But  um profit and value is not always expressed in. dollar terms. So what does that mean? Well,  there's a lot of value to having your wealth. under your control and in your private possession,  which maybe it's worth the trade-off of not having. uh dividends uh being, you know, distributed  from the What do you think the value is? Well,

you you have sovereignty. you you have control. Um  you you've eliminated essentially all counterparty. risk. So you're the one who knows you. It's it's  actual wealth delivered. It's not a claim on. wealth anymore. It's not a hypothetical. It's not  some paper certificate that says I owe you this. or we promise that you have this here. We promise.  We promise. It's it's it's a and and you can trust.

some people's promises. there there's always  trust involved in a system, but you know this. there are other promises that maybe you shouldn't  trust. So you want to derisk a little bit, but uh. once you have it in your possession, that's wealth  delivered. It's no longer a claim on wealth. Like. it's a settled debt. Um you know, if you look at  say Federal Reserve notes, the Federal Reserve. notes are not actually wealth. They're notes,  which means they're debts. They're debts of the. Federal Reserve. They're a claim on the assets of  the Fed. And so whenever you pay somebody with a.

Federal Reserve note, you're not actually settling  your debt to that person, you're exchanging one. debt for another. So they haven't actually taken  possession of actual true wealth, which is what. gold is, or you know, any other type of asset or  capital asset. But when when you have gold now, you have actual wealth crystallized physically  incarnate, so to speak, in in a tangible form that. is no longer subject to any other counterparty's  duty to perform on your behalf. Amazing. How do.

you spend it? Well, um right now, uh because of  the way our economy works, you need dollars for. practically everything. uh even Bitcoin as popular  as it's become uh you know if you if you go to a. merchant that accepts Bitcoin that merchant isn't  actually taking the Bitcoin and keeping it on a.

wallet somewhere. They're converting it to dollars  almost instantly in most cases. Uh so the the same. is true for gold at this point largely that uh you  know you you can't really easily spend it directly. because most people need dollars to operate on  a daily basis to pay their taxes to pay their. mortgage to go buy food at the grocery store. Um,  so to spend it, it usually involves converting.

it back into dollars, selling it to somebody  who's making a market for it, getting the money, and then using it. So, uh, which seems reasonable,  um, at this point in time. Uh, and of course that. will evolve as all systems do, you know, maybe not  in our lifetime, but of course it all evolves. We. don't use DRCA anymore or Daenerys or whatever.  Um, how do you do that? How do you convert? So I. so I buy I don't know 30 ounces of I buy 30 gold  coins 1 oz coins and I keep them in my safe and.

then I have a need for them. How do I convert them  to US dollars? Well, uh you could usually contact. the firm that sold them to you. Um and if they're  in your possession now you're going to have the. challenge of getting them back to that firm.  you're going to have to transport them through. a common carrier like FedEx. Uh how hard is that?  It's uh it's usually not hard. Um especially with.

gold. Silver is a little more challenging just due  to the mass. Um but there is some risk involved. in that. So there's there's the cost to ship it.  There's the cost to ensure it. Uh so that's added. friction. Um, normally when you're dealing with  a a a major uh market maker or distributors who. who's involved in precious metals, they're going  to they they should normally in most cases have. a a strong uh repurchase price. So it it's often  in your interest to do it that way. But you could.

also practically every major city in this country  has multiple dealers who would be more than happy. to buy your gold coins from you in practically  any major city. You could walk in with, you know, two gold eagles and walk out with $6,000 cash or  they'll So will they give you spot priceish for. those coins? Usually if they're honest. Yeah. And  and you can, you know, you can check the price,

you can call around and and people do that all  the time, see what people are paying and just, you know, make sure to keep them honest. But, you  know, there there are dishonest dealers out there. Oh, for sure. But given that you can get the spot  price on your phone 24 hours a day and I'm like, you know, gold is 3,25 or whatever. And I look  it up and then I call the coin shop and say, I've got two, you know, double eagles or whatever.  I've got two gold coins. Assess if they're real. and if they are, will you give me spot? Is it  possible you're going to get that. Oh, certainly.

Yep. And for and for some coins you might get more  than spot. You know, they some of them command a. premium depending on market conditions and the  type of coin. So, um when I get the cash for. those coins, how private is that transaction?  Uh it's a very private transaction. So there. there's no specific reporting requirement that  says that dealers have to report every purchase. that they make from the public. Um once you get to  large volumes of certain types of gold or silver,

they technically require a 1099 uh report um  which really just discloses the amount of gold. and silver that they purchased from you and  the price they paid. it doesn't disclose the. profit or loss that you made in that because they  have no way of knowing that. Um so so in but if I. want it totally private, what's the threshold at  which it has to be reported, do you know? Well,

that threshold is subject to debate amongst  people within the industry. Uh there's some. obscure regulations. Um okay, but roughly but  but typically it's you know like 25 ounces of. gold or say a,000 ounces of silver. Uh, but it  has to be in specific forms. Like for example, the US gold eagle is specifically exempted in law  from 1099 reporting. So, you know, you could sell.

a million dollars worth of gold eagles and no one  in the government needs to be notified that you. did that. So, it's totally it's totally private.  So, if I have gold eagles or if I have up to 24. ounces, which is I'm not good at math. Help me  now, Chris. Oh, 3,000 * 24 is roughly 75,000,000. Yeah. I can just walk into any coin shop and give  them that. I get I get bills if they have them. If. they have them. Mhm. Yep. So, that's like that's  kind of what they promised me Bitcoin was going.

to be. I I was super excited about crypto, not  as an investment. I'm not much of an investor, that's for sure, but I do believe in privacy and  I think it's a fundamental human right. So, I was. hoping that you could use Bitcoin for that kind of  thing. Not don't want to buy, you know, anti-tank. weapons or whatever. I just want to buy like  dinner or whatever I want to buy, but it's not. bad, but I just want privacy. But gold, I could  take gold that's sitting in my safe at home and.

go and get $75,000 or unlimited if I have certain  kinds of coins and there's no record at all. I. just get the cash. Correct. Yeah. Okay. Now, the  dealer is going to have their own records. Yeah. Whatever. But yeah, but that that is privacy.  True. Exactly. It's the original cryptocurrency. It's so weird that I feel awkward even saying this  out loud. They they've sold the lie that like if.

you don't want them in your face at all time in  your bedroom monitoring all your behavior on your. iPhone that there's something wrong with you. You  know what I mean? They want to put Ed Snowden in. jail for disclosing that they were spying on me.  Who's the criminal here? The people spying me are. the criminals, not Ed Snowden for telling me the  truth. But they've so brainwashed everybody. Even. I think I'm pretty off-grid mentally. I don't look  at the media either, ever, but I still feel like,

oh, you know, it's kind of embarrassing to talk  about wanting privacy. Do you feel that? Are you. you so off the grid that you don't even know  what I'm talking about? No. No. I I definitely. feel it. I mean, just even talking about it  in this interview, it's like, are you saying. something wrong? Are you allowed to say that? Is  that is that dangerous? Is that a threat? It's so. brainwashed. It's unbelievable. Is it a threat to  the regime? I mean the the the system of control, taxation, monitoring, uh everything done in the  name of safety. Uh no, but it's just so funny cuz.

I because I know you I don't think I'm giving away  too much. You're like a faithful Christian with. six kids. Like you're not doing anything wrong.  You're like a law-abiding person and even you are. like, "Oh, I feel weird." Yeah. Yeah. Yeah. Yeah.  Yeah. The positive law is what they call it. like. you haven't actually harmed anyone, but you know,  it's kind of the the Department of Pre-Rime wants. to make sure that you're doing okay things and not  potentially a threat to somebody. So, even though. you have only certain people, they don't care if  you're a threat to others, but it's like selective.

enforcement is always very interesting, a threat  to their power. Um, which this is, by the way, just to be totally blunt about it. And, you  know, privacy is a threat to their power. That's. why they're opposed to it. You know, exactly.  Tough luck is my view. Privacy and sovereignty. and and that's why they're opposed to gold and  and that's why you you want to keep everything. uh in Federal Reserve notes and heavily regulated.  You have Bank Secrecy Act. You have everything. that relates to dollars uh in terms of what  you can do and even internationally. So,

it's a very powerful tool for control. Um, add to  that uh income tax laws where they, you know, we. didn't used to have an income tax in this country.  We were we were a free country once, but once they. need to get in and figure out how much did you  earn as though it's their business, you got to pay. your fair share. It's it's not even about paying  your fair share. It's about managing the wealth.

of your citizenry and making sure that some people  are not richer than they ought to be. Because if. the government wanted to, you know, pay its debt  some other way, it easily could. But instead, they. choose to use the people as a source of revenue.  And and that's, you know, they think of the. percentage of time that you work for the IRS every  year so that you can fund regime change operations. or some other bizarre foreign policy objective  like we see with US aid in some foreign country.

It's like uh that that entire system is just  fundamentally unjust and undemocratic and and it. really doesn't represent the will of the people.  It doesn't allow them to be as free as they could. be. It doesn't allow families to uh preserve and  transmit generational wealth and it's all done. in the name of this obscure concept of fairness  which is defined by bureaucrats and politicians. thousands of miles away from you. So, it's it's a  horrible system. And uh yeah, you're you're right.

They they you you can't be allowed to have priv  privacy or sovereignty. There there should be no. ability for you to opt out. You cannot secede. You  cannot be different. You can't you're you're all. subject to this system of control and monitoring  to ensure that the policy objectives of whatever. uh administration or regime happens to be in  control at that time decides is what's good.

for you. It's scary. How hard is it to store gold?  Gold is relatively easy to store u because it is. so small. Um you can concentrate so much value in  such a small piece that you could hide it in your. bookshelf. Uh you can use security by obscurity.  You can stash it in different places. You could. uh you know hide it inside your wall. A jar of  peanut butter. Yeah. Jar of peanut butter. Uh you.

could get a uh one of those little pop can fake  pop can saves that you put the soda can in your. fridge and hide it in your refrigerator or bury  it in your backyard. Gold doesn't rust. It doesn't. tarnish unlike silver. So, you know, you could  bury it. Uh so, it's very easy to to to store. gold on your own. It's when you have a lot that  it becomes more of a security risk and yes then. then you need to get a little more strategic. Can  we talk about the downsides? I like to assess I'm.

not an investor but my goal if I make money is  I have no expectation of becoming Larry Frink. I. don't want to be Larry Fink. I just don't I think  it's fair not to want to lose what you earned. That's how I feel about it personally. And so how  do you and be I know you are honest so I'll just. say how do you like what are the risks to buying  gold? Well the risks of buying gold uh primarily.

are you go gold is volatile like any other asset  just because of the economic system that we're in. And so prices are going to swing. There are going  to be corrections. It's it's hard for anyone to. know what should the true value of gold actually  be. And even if you did know that, what are the. things that prevent that from actually happening?  So there there's always some level of uncertainty. So if you're, you know, if you if you put all of  your money into gold, let's say, because you think.

the world's going to end tomorrow, or uh which in  which case you wouldn't need gold, but you know, fair, but probably want to buy macaroni,  but yeah. Uh yeah. Well, you'll you'll need, you know, if the world doesn't end, but it comes  close, you're you're going to need some system to. barter and trade with, and in that case, gold gold  is perfect. But, you know, say you put all your. money into gold and it turns out 6 months later  you need that money for something and the price.

of gold is maybe down 10% at the time. Well, now  you're going to be forced to liquidate. So, it's. as with any asset, you you don't want to put too  much of your liquid assets into it or you could, you know, potentially uh be at a loss. So, you  you never want to uh put too much money into. anything. You need to have that spending money  for all of your daily affairs and unexpected. So, that's one risk. Um the other risk of course  is going to be storing it securely. You know,

it could be stolen from you. you could be robbed  or or you you want to make sure that people don't. know that you have gold or especially if you have  a lot of gold. You you want to make sure that that. stays really private because there's always going  to be the risk that somebody could uh come and. take it and walk away with it and there's no no  reversing that. You you can't uh you can't cancel. that check. Um sort of like cryptocurrency, once  it's gone, it's gone. Uh or maybe you'll forget.

where you put it. So you got you got to have a  a trusted treasure map that yeah only trusted. associates have. So uh beyond those risks what  about fire? So you put it in your house. I've. got you know 500 grand of gold in my wall where  let's be honest it's not going to be stolen. No. one's going to find that. Like it's impossible. Um  but the house burns down and the gold melts. How. much value does it lose? Um a few percent. That's  it. Yeah, maybe maybe four to five depending on.

how contaminated it gets. You probably have to,  you know, smelt it down and get it refined again. And so you'll you'll shave off, you know, between  two and 5%. But you'll be able to recover it all. So it doesn't burn up. No, no, it'll just melt.  You'll have a slag of melted coins sitting at the. bottom of the ashes of your house. You ever seen  that? We have. Yeah. Really? Oh, yeah. Absolutely. Yeah, we've we've bought uh many many times we've  had packages come in from other dealers or from.

other customers that are melted gold or silver  coins and that's exactly what we have to do. Smelt. it down and get it refined, but it's not a huge  loss. Not a huge loss. Nope. So, it's durable. Very. How much of the gold have you ever wondered  um because gold has been in circulation since the. beginning of recorded history um in a very very  famous way? I mean there's I don't think there's.

a book in the Bible that doesn't mention gold  for example. Um but many ancient texts mention. gold. So do you ever wonder like in this coin that  I'm holding was any of this gold you know in the. second temple? Oh, it's certainly possible. Pretty  much all of the gold in circulation has remains in. circulation. So there's always new gold being  mined and added to the supply and that's about. 1 to 2% per year of the total supply. Yeah. So  gold inflation is 1 to 2%. Right. Very manageable.

But typically gold is not um lost unlike silver.  Um, silver's used in industry and uh, silver uh, is typically not it's not worth recovering through  recycling in a lot of cases. Um, and it's used. in electronic components, photovalttaic  cells for solar, that type of thing. So, it's it's an industrial use metal. Gold is also  used industrially, but typically it's going to.

be worth it to recycle it and recover it. And  so, uh, most of the gold that's ever been mined. in human history is still with us today. And uh  so yeah, you very you very well could have some. some of the molecules in your gold bar or coin  could have been in the second temple or who knows. where. Interesting. You you keep referring to  silver. I wanted to just keep that separate. I. know much less about it. Um let's start with the  price. What is silver trading for right now? Is. uh a little under $34 right now an ounce? Yes. Um  for silver. Okay. Give me perspective on that. Is.

that a lot or a little or? It's not much at  all. Um, we think it's highly undervalued. A lot of people do. Um, why do you think that?  Well, throughout history, uh, gold has typically. had a a value relation to silver of between 12  ounces of silver to 1 oz of gold or maybe 15.

to one. It's kind of floated around there. That's  typically been How far back can we track that? Oh, we can track that many centuries. There's plenty  of evidence for it. That's the cool thing about. precious metals. Like people keep records. I mean,  there's a continuity to it. Like this is we're not. the first people to have this conversation,  right? We're not reinventing any wheels here. No. Like this is a triedand-trude method of  running economies. So it's 12 to 15x. Gold is.

12 to 15x. Silver typically. Typically. Yeah. Um  today right now the ratio is about 90 to1 which. is very high 90 ounces of silver to 1 ounce of  gold. Well there's a lot of reasons why people. say that that is you know and suppression is one  of the main ideas that we just ask the obvious. question. Has there been a big expansion in  supply? Oh, no. No. The supply the supply. continues to go down. And if you look at what  the miners pull out of the ground, you know, people are mining gold and silver is often found  with gold. Really, vice versa. Yeah. Typically,

um, and uh, what's coming out of the ground, the  ratio is about 7 ounces of silver to every 1 oz. of gold roughly. It's between 10. It depends on  the mine, but 7 to 10 is the ratio. The gold is. worth 90 times the silver. Correct. Huh. Correct.  So, well then that doesn't make any sense. So, if. there hasn't been a massive expansion in supply,  but the value relatively speaking has dropped like.

dramatically, then what is that? Well, it's part  part of it has to do with um the fact that silver. is not a medium of exchange right now. It's not  used in the marketplace. Um and also central banks. typically don't carry silver on their balance  sheet. So we we look at the price of gold right. now. The vast majority of that price runup is the  direct result of central bank purchases who are.

preparing for some type of potential revaluation  event. It would seem silver on the other hand. doesn't Wait, hold on. What does that mean? Well,  what's the real value of gold? What's the real. value of the dollar? It would appear that we're on  the cusp of a new international monetary system. Yeah. Which is the result of certain foreign  policy decisions that were made in the previous. administration as well as just the uh underlying  nature of the the game, the the economic system,

like the rules of it have changed multiple.  We're not encouraged to like probe that too. much. It's more like, hey, go have a race war,  right? Do you know what I mean? White people are. bad. Black people are bad. It's about the trans  community. It's like, okay, but the one thing we. don't talk about is this sort of thing. I can't  believe how ignorant I am of some of it. And I'm. interested. It's it's a theory of mine that really  this is the root of almost all of our problems.

What does that how I I I think you know the the  ability for the creation of artificial credit or. money by powers, central powers, let's say the  banks or primary dealers of the Federal Reserve, the Federal Reserve system, the government, it  gives too much power and too much control to. small a group of people. Well, I've noticed that.  Yeah. Okay, now we're getting warmer. Yeah. So, so you know the the changes that have occurred in  our society over time, none of these things would.

have been possible without the ability of the  government to just artificially inflate its credit. and monetize its debt and inflate the currency.  Otherwise, it would have to come to the people. and tax them directly. But instead they're able  to uh levy a hidden tax against every holder of. a US dollar which is not just the American people  but people throughout the entire world the world.

Yeah. So it gives a lot of power to certain forces  that are at work and I don't think those forces. operate uh for the the the benefit or the good of  common people like you and me. uh they they have. different plans and there are different different  goals associated with uh these centralized powers. and and so uh not being tethered to some kind of  a standard has just given them too much freedom to.

do too many things that people normally wouldn't  agree with or wouldn't pay their taxes to allow. and that's happening globally. So, uh, the the  necessity of change has never been more apparent. for every reason that we've discussed and plenty  more. We could go on and on and on about the evils. of that type of a system. And so, in the interest  of fairness um, and honesty and and honest dealing. um, and and a proper valuation of what is a  thing actually worth, it's going to require.

a lot more work. You know, we we used to be  on a gold standard. um which was a result of. uh agreements that were made internationally uh  after World War II which uh and even before World. War II actually. But uh it it pegged the value of  the dollar to a certain amount of gold and that.

gave everyone dealing in dollars the ability  to actually properly account for what is a. dollar? What what even is it? Um, but as usually  happens, we just continue to print more dollars. than we had the proper amount of gold. We just  fight a war in Vietnam, kill 60,000 Americans, and like we couldn't continue. So, in the early  '7s, the president took us off the gold standard. Is that a fair summation? Exactly. Yep. the the  expansion of the money supply, all of our unfunded.

liabilities. Uh other people that, you know, for  foreign governments that held dollars saw the. writing on the wall and they started demanding  their gold and the gold was flowing out of Fort. Knox and we had hundreds of tons. I don't have the  exact figures, but we were losing tons literally. of gold to foreign redemption. And at some point  someone had a meeting with the president said, "Mr. President, we're they're emptying the vaults.  They're emptying the vaults." And you know, may maybe the vaults are empty. We're not sure.  Uh I I guess the president's going to find out.

maybe at some point if they let him. But uh yeah,  so so they decided to suspend redemptions and at. that point the price of gold was allowed to float.  So there became this sort of secondary market that. was no longer part of the government but it was  relegated to banks who began to make markets and. determine uh what is the value of foreign exchange  what's the value of the dollar versus the British.

pound or the German Deutsch mark but a lot of that  was also continued to be related directly to gold. and so gold had a floating price at that point  and and So the the floating price of gold becomes. a benchmark and a barometer of the health of any  individual currency which then becomes uh part of. the reason why the government is now interested in  managing that price of gold as a matter of policy. and and you know just just like they they had a  gold standard at one time but they had to default.

and that's what that was. It was a default by the  US government. It declared bankruptcy and revalued. its debts. Um then the system became one of okay  now let's let's manage this and and you'll notice. 1971-72 that's like a a that's that's that's a  bright line in human history where we see the. purchasing power of the American middle class  steadily decline from that point forward every.

single year. um and and almost any benchmark of  any of the ills in our society go right back to. that time frame because that unleashes certain  forces that nobody can properly diagnose. Uh. there's a there's a quote uh by by Kees John  Maynard Kees who uh he said something I can't. remember the exact quote but that in inflation  works havoc and and basically misery on a.

society in ways that not one man in a million can  diagnose. And so it's a very subtle change that. occurs within the body politic when you begin to  debase a currency. And as you debase a currency, you're you're kind of debasing the people and  you're committing fraud in institutionalizing. it on a grand scale. And that's really an  abomination uh in the eyes of God. Uh the. the Bible talks about unjust weights and measures  being an abomination. And and so there there's a.

real price to that type of activity being allowed  to occur at scale on an institutional level within. your society. And we've globalized it. And so  from from that point uh and and it's not as though. there weren't many evils that we had prior to  that point. There were plenty. But at that point. uh they became leveraged in a sense. the the the  ability to maximize certain effects on society.

through the use of money and artificial money  creation. Um so s sort of like alchemy in a sense. uh gave certain powers just enormous ability to  manipulate and control society in every level. Um, I believe it was uh JP Morgan who said that uh  give me control of a nation's money, I don't care.

who makes it law, it makes its laws, something to  that effect. Um, and that's very true. If if you. have control of the money, it doesn't matter who's  in charge. It doesn't matter who's elected. It's. money rules. And and so that you have control of  the food and the shelter and the water. I mean, it's like you have control of human life. And  and you'll notice that uh it it was during the. creation of the Federal Reserve in uh 1914. Um  that that's the same year that the income tax.

was instituted. So those two things seem to go  together. They seem to be two part two parts of. the same tool. And so we've watched that tool just  expand grotesqually to the point where it is. And. since 1971, just every ill that you can conceive  of in society has expanded uh consistently from. that date. And and so now we're at a point where  all of the fruits of that have come home to roost.

in every possible way. And and I'm convinced it's  directly related to the money. And we can point to. lots of other problems, which they are problems.  You've got symptoms, you've got other secondary. causes, but I think a lot of those symptoms and  secondary causes would have never had the power. that they do have if it weren't for the ability of  certain forces to enact their will using the money.

system to which they're they're they're untethered  to to any outside force or to to anything that. should ever hold them account or check their power  other than their own determination. Fiat money, we decide what percentage of the Fed's balance  sheet should be gold. It used to be 40%, then it. was changed to 20. Then it was changed to I think  maybe 10 or five. And then finally they said, "Ah, whatever amount we want. We'll just call it  whatever we want." So they've got cart blanch to.

decide what money is and how much money there is  and to regulate its use in in every possible way. So money really is at the heart of maybe almost  every problem right next to the the spiritual uh. realm and and they're all connected and they are  directly connected. Yes. And there there there's. a reason that there's a force called mammon that's  referred to uh throughout scripture. So um yeah,

it's it's a dangerous master. Truly is.  So, let me just ask you to describe, you don't need to use the names of the companies,  they're all famous, but like how does this slight. of hand work where these companies convince mostly  older, mostly conservative Fox News viewers, really people I love, convince them to buy gold at  twice the price? How do you do that? It's a huge.

problem and it's been happening in the industry  for decades. Uh, everybody knows about it. I didn't know. Yeah. Everybody in the industry  at our level understands what's happening. And. basically it involves uh companies that  will receive a call from some individual, usually someone with a retirement account who  believes that they need to buy gold. And uh. it's it's a good idea. You you want to get gold.  So, but where do you go to get it? And so, right,

it it's it's a trustbased transaction in the first  place. Some major media figure has endorsed them. as they tried to get you to endorse them uh  for large sums of money. and and now that that. media figure's entire audience is is a potential  customer now and a potential trusting customer who. doesn't understand the way money works or how gold  works because as as we've discussed it's not a.

topic of daily conversation or activity for people  but you feel that it's important. That's what drew. me to it. I was like, there's something about  this that's important and then I'm interested in. history. And I'm like, everyone else has thought  that since the beginning of recorded history, so maybe there's something there. Mhm. Right.  Yep. And and so not knowing how it works, they. they call them up and they say, you know, I have  a retirement account and I'd like to put $100,000. of gold into the account. And the salesman says,  "Yep, we can help you do that. um just sign this.

agreement and we'll get the paperwork started and  we'll sell you $100,000 worth of gold. And the. the typical understanding of most people is they  they think it's like buying a stock. So they're. assuming that if they've bought $100,000 worth  of gold that it's worth $100,000. Yeah. Well, that that's the assumption. and and if there  was some fee associated with that transaction.

that it would be disclosed or that it would be  that's fine. You take a vig that's that's okay, you know. Yeah. One or two% maybe three or four if  it's silver, you know. You you you've got you've. got a range of acceptable percentages associated  with precious metals transactions depending on the. format and the size and the delivery requirements.  Um and so there there is a certain percentage. uh which which is fair and and typical. But what  happens in these types of transactions is the the.

customer is charged 40 50 60% above the price of  gold or silver and they don't know it. And I've. I've received receipts from customers of of these  types of brokers and I've looked at the numbers. I've seen them in hand uh showing uh people  paying $75 or $80 an ounce for silver coins.

when the price of silver was 25 or paying uh and  that's disgusting. Yeah. And these old people, old. people who don't understand what they're doing.  And uh when they turn around to try to cash out, they want to buy a piece of real estate or help  fund a grandchild's college education. They they. see that silver and gold are both up maybe 20%.  They go to their IRA account, try to liquidate,

and they're underwater. They haven't earned any  money. They're still down from their original. investment. They've lost money. They've lost  money even as the metals have risen. Exactly. Exactly. So, how does that work? And it's because  the the people that sold them the metal marked it. up 50 or 60 or even 100% in some cases I've seen.  and and and they'll try to justify it by saying,

"Oh, this is a a scarce coin or a special issue  coin." And and often that is part of the game. is they'll get these obscure coins that are an  exclusive mint issue from one of the major mints. and and they'll get access to that exclusive coin  so that if you try to look it up online, you won't. find that coin anywhere and it'll be some special  gold or silver coin that only they have access to. But fundamentally, there's nothing intrinsically  valuable to it other than its gold or silver.

content. It's still a commodity, isn't it? It's  still just a commodity. It's not a collector's. piece. And that's typically not what people the  people are not looking to invest in collectibles. in their IRA accounts when they're looking for  gold. And so, you've got bait and switch tactics. So you've got Wait, so just to prove the point,  if you're a in addition to being gold seller, you're obviously a huge gold buyer from a lot  of different sources, but one of them is from. dealers around the country. Someone comes in  and says, "I want to liquidate." So you get a.

special issue mint coin or a commemorative coin um  brought to you, what do you pay for it? Typically, it's going to be very close to the spot price,  right? So, you're buying it for the gold, not for the spooky voodoo of commemorative there.  There's no market for it. It's a modern coin. It's. not valued by collectors. Uh it's it was it was  minted specifically for the purpose of being kind.

of scarce, but at the end of the day, people  don't care about that. There's no reason to. value it higher than other gold or silver coins of  the same purity and weight. So, so it has in real. terms no added value, no extra value because it's  limited edition, right, from the New Zealand Mint. or whatever. Yep. Rich Corinthian leather. It It's  all just speculation that it should be worth more. But when when it comes down to it and they try to  liquidate these special issue coins or whatever.

type of coin they were overpriced and sold, they  come to the market and find out the market values. their assets at the price of gold or silver and  and it's not just us. They could go to any dealer. in the country and get the same story. Now, they  might go to the original dealer that ripped them. off, and that dealer will often try to save face  and prevent a bad review online. And what they'll. do is maybe offer the customer more than anyone  else in the market will pay and they'll try to.

pay them off to just, you know, be satisfied or  go away. So, it's a little game that they play, but you know, if they pay 30% more than the value  of the gold or silver for that coin, they're the. dealer that bought it back is not going to be  able to get that price from the normal market. So, they have to go find another mark to pawn those  off. Classic Ponzi right there in a sense. Yeah. Yeah. Very close to that. So, I don't know what um  you know how I can describe this without getting.

sued, but this seems really wrong to me. Do you  think that? Yeah, it is. Uh there was a a bill. um actually it was a regulation change. Um I I  can't recall offhand which agency it was. It was. probably uh consumer protection um that they were  considering a rule change to require anyone that.

sells anything to uh retirement accounts to be  forced to act as a fiduciary. And right now there. is no requirement for that. And if this change  were implemented, it would uh significantly change. uh the enforcement tools that the government might  have to go after companies like this. And right.

now they really don't have any enforcement. So I  guess what offends me this is what so you told me. this I think when we first spoke and that's when  I decided I wanted to start a gold company which. I'm not qualified to do. So, I partnered with you,  but um the the outrage I felt um stemmed from the. fact that they were doing this with retirement  accounts. That just seems over the top. I mean, if some drunk rich guy calls in and you fleece him  40% on a gold sale, it's it's immoral, but it's. not quite the crime that you're describing, which  is some old Fox News viewer calls in and goes,

"It's my IRA, my individual retirement account,  and you're selling stuff that like, you know, isn't worth what you're selling it for, but like  by a lot. I mean, it's a full scam of all people. A full scam. And I' I've seen story after story  of But why does nobody say anything about it? People have attempted to say things and do things  about it. Uh there there there was a court case.

against a a company in California specifically um  a very large company and uh it was brought by the. state of California who actually looked into this  dealer's practices and um ultimately forced that. dealer to settle on a number of these counts and  to change their practices. Um though even after.

changing those practices there were still issue  after issue of different types. Um so so there. was that one case where some action was taken to  a certain degree but you know if if one of these. dealers folds or goes bankrupt or gets sued out  of existence they'll just pop right back up. It. it's so easy for anyone really. Uh, so I actually  asked for a list of all the media people who were. shilling for these. I I think they're criminal  enterprises. That's my view. But um certainly.

it's it's not defensible if you know what actually  happened. You can't defend it. It's wrong. And so. I asked for a list of all the media people cuz I  was in the media my whole life. And you know there. are a couple people I really dislike on that list  but there are also way more people I really like. including a couple like actual friends of mine.  So, I decide it's all publicly available if you're. interested to look up yourself. So, I decided  I was not going to call anybody out by name, but I really hope that this tape circulates um and  that they decide, you know, I I doubt knowing a.

couple of these people are like legit good people.  Um, so the best people in the media actually and. I just don't think they have any idea like some  agents like oh you know gold company X is going. to pay you whatever who turns down millions of  dollars. I just don't think they know but I hope. they do now. And I just want to be clear that the  business that you and I are about to roll out is.

um is a response to at least I'll speak for  myself. It's a response to this. I think it. should be easy. I think gold's important. I don't  think anyone should put 100% of their money in it. for the reasons that you described because it's  a commodity and it goes up and down. But as a. long hold, it doubled the markets. Like what's  the argument against it? So, um I really think. it's important for people to buy gold. I buy  gold. In fact, any profit we make from this, I'm taking in gold personally, but I just think  it should be easy for people. And um you know, you.

don't make you know, you make whatever 4% rather  than 100%. But like that's okay. That's a normal. business, right? Right. Right. Be be transparent,  be upfront, and and that's going to be part of our. goal in the operating of this new venture is to  be as completely transparent as possible. And part. of that is to uh give customers the the indication  of what would you pay me today for the product you. just sold me? And that difference between the bid  and the ask, the sell price and the offer price.

is called the spread. Yeah. and and the spread  is really the determinant of what is the cost of. the asset that you're investing in. What what is  the friction? Um if you need to sell it tomorrow, how much are you going to lose? And you know, if  you sold it back and the market didn't change, you should expect to take, you know, 3 to 5% off  of your your value, right? Because that's that's.

the typical uh profit margin of of of an honest  deal. much better than a new car. I'll tell you. that. Sure. Yeah. Well, and and and this is a  commodity money. So, you know, there there's only. so much that should be added in terms of value  and processing and costs to that transaction. You know, we're talk when we're talking 40 50  60%. That you're you're just taking you're just. taking at that point. There's no justifying. But  you're taking from the best people in the world.

That's what you know, obviously, I was glad to be  fired from Fox. I'm really grateful I don't work. there. Um, but the viewers, you know, I really  love the viewers and I met a lot of Fox viewers. I'm related to a lot of Fox viewers and that's  the one group I you know, like they have enough. problems. The government hates them. Mhm. And  you're stealing from them. Yeah. Yeah. It's it's a. tragedy. It really is. And I've seen the stories.  And the people that are promoting these companies,

the people who have large audiences need to do a  little investigation agree and and check out check. out the actual practices of the companies that  they're recommending and understand what is the. spread on the typical deal that these companies  are offering to their customers to to the audience. members of those people. Well, they don't even put  their prices on the website. So, that tells you. everything. Like, you're you're selling something.  Tell me how much it costs. Yeah. Or if they do,

they'll do the bait and switch. You'll call for  that and they'll say, "Well, you know, you should. maybe get this." Cuz they'll they'll say something  like, "The government can't confiscate this coin.". Or they'll tell you some secret story, some secret  sauce about the thing you should really buy that's. going to cost a lot more, but there's a story  behind it. Um, so yeah, you you that's that's. one of the the typical signs is they don't have  e-commerce or they're they're not going to display. prices. No, there's plenty of honest companies  too that are telephone only. They just they're not. into technology and they're honest brokers. We we  work with people like that. Um, so that that's not.

that's not a guarantee, but these companies almost  always will not display their prices or their. spreads uh because they don't want you to see  that. Um, and and it's typically very high-profile. celebrity endorsements because it's a con job.  They're relying on your confidence. They're your. trust. They're stealing the trust. And by the  way, and some of these people, some of the media. figures who are promoting this stuff are just  not just not good people. I know them well. But.

there are also a bunch of them who I, as I said,  I know really well. And they are good people. And. they're basically really honest people. And that's  why they're popular, by the way, because they're. honest. and they've earned that trust over a long  period. And so anyway, I think it's a tragedy for. them. It's misleading probably unintentionally uh  to their viewers just the whole thing. One of the. reasons I was glad to grateful to partner with you  is that even though you're in the money business, you don't worship money, right? Yeah. At all. So,  um and also you don't need to do this. You've been.

successful enough. I just being honest don't  need to do it either and I I don't expect to. get rich doing this but I I really believe in it  and I think it's a it's a good thing. I mean that. too. Yeah, I agree. Um you know we we've been  very successful. We've been in business since. 1976. We've sold and delivered over $5 billion  worth of metals um in in the lifetime of our.

company. And I've been in it since I was born. My  dad started the company. So, it's it's always been. uh part of my life. Grew up doing it. And uh I  came on board to help my dad and I wanted to do. things right. I wanted to help him do things  right. I wanted to support our customer base, which at the time was primarily uh wholesale  dealers that we would supply. Um or retail. dealers that we supplied as a wholesale dealer.  And so those have always been my motivations.

I never when I was a kid I didn't think I would be  in precious metals. I wasn't interested in what my. dad was doing but I wanted to help him. He needed  help and so that's what I did and I wanted to do. things right and uh we've been very successful and  we've been transparent and honest and that that's. been a cornerstone of the way we've operated for  decades. Uh, and I've known about these companies.

and never really felt that it was something that  I could do anything materially to affect. So, uh, when you first contacted me and you had this  idea about doing something about it like this, I. jumped at the opportunity because, you know, like  you said, I I I don't need more to do in life. I wasn't really planning on expanding my list  of projects. Uh I've been wanting to scale back.

honestly because I've been successful and I've  I've been working really hard a long time, but. this opportunity to me was of greater value than  just the business. If it had just been business, I wouldn't have been interested. But to be able  to actually disclose this particular problem on. a platform like yours is of so much value to the  people that you and I love, the American people,

the Fox News viewers, just average Americans  who are trying to protect themselves from the. predation and corruption that's rampant everywhere  in this country. That's true. And and like you. said, it's not it's like they need this kind of  abuse. One more thing to get. They've been hit. from every single angle. The people are suffering  so badly. And I've read these stories. So the idea. that that you would that you would talk about this  particular issue and and bring it up in in such a.

way that your audience is going to know about it.  The industry is going to take notice. the people. that are promoting these companies are going  to hopefully think twice and go back and do the. math and ask some really hard questions. That's  something that is of such huge value that you know. ju just this interview alone is worth everything  to get that information. I hope so. Man, I almost took the money. It was like I was like,  "Wow, how great." You know, it's like I honestly.

think I've been fired for less than a week and you  know, most of our staff came over from Fox paying. their salaries. It's like, wow, I've got quite a  burn right now. And I was like very psyched. I was. like, oh, gift from God. And it was only because  I was on a long drive, like a 5-hour drive, just spacing out thinking about it. And just  in like a hyper autistic way, I was like, it. doesn't make any sense. And I'm terrible at math.  if I know nothing about math, but just like I can. smell like things that just aren't obviously true.  Like how does that work? And it just led down this.

rabbit hole. So anyway, I'm super super excited.  Let me just ask you one last question because I. I of course I keep stepping on your answers as  usual. Silver, people buy a ton of silver. Yeah, it's it was traditionally you said um about 1112th  or 115th as valuable per ounce as gold. Now it's. 190th. Yes. I just don't understand that. It's got  tons of industrial uses. Um why is it 30 bucks an.

ounce? It's a really good question and we  think it's going to change. Um you know, if you if you look back at when the the first  major high in silver was about $50 an ounce. in 1980 when the Hunt brothers were cornering the  market. um wi-i which is an interesting indication. of maybe what its real value is. Um maybe not,  but the inflation adjusted number if you want. to calculate that to today's dollars is about  190 bucks. So we're we're nowhere near that's.

how much inflation we've had since 1980. Yeah.  $50 is then is $190 roughly today. Yeah. Oh man, I remember 1980 really well. I was 11. I mean that  was a wow really that's a lot of inflation in 45. years that's the problem we're talking about but  you know so and and then most recently in in 2011.

uh silver again tested that nominal figure  um but adjusted for inflation that number is. today in today's dollars maybe 70 75 bucks so  we're nowhere near any of those previous highs. And historically since since about you know  maybe 1915 to present if you look at all of. the fluctuation of the the gold silver ratio  it's roughly the average has been roughly 53.

to1 instead of 90 to1. So even if we just changed  if the ratio was to be the basis for revaluing the. price of silver it would be over $50 right  now based on the price of gold. It's where. silver maybe should be if if you think that the  the ratio is a fair comparison. And to restate, there has not been a radical expansion in supply.  Correct. In fact, the supply that's coming out of. the ground, like I said, miners report it being  roughly a 7:1 ratio, maybe 10:1 ratio depending.

on the mine that you're extracting from. So,  it it has industrial demand. A certain amount. is lost every year. So, there's some amount of  a deficit. I think um I don't have the exact. figures, but then the amount that's coming out  of the ground is nowhere near a 90 to1 ratio or. um even 50 to1. It's 10:1 or less. So the the  the possible that sounds like market manipulation. maybe that's what a lot of people claim. Uh I'm  not enough of an expert in some of that inside.

baseball. I' I'd let other people talk about that  issue who who have a lot more information than I. do. But to my understand the motive for that  that you can think of? Well, it I'm not sure. what the motive may be. It it may be uh residual  to previous positions that were taken when silver. was more of a monetary asset. Uh there from what  I understand there are a lot of short positions by.

certain bullion banks that trade paper contracts  to sell positions that they don't ever actually. intend to deliver on which is a standard practice.  You just roll those contracts and and you know. buy it back, sell it again. Um and and there are  legitimate reasons for doing that but also there. are reasons that are purely you know e economical  or even manipulative. And from what I understand, there are positions on the books of various  banks where every dollar silver goes up,

they're losing hundreds of millions of dollars  collectively. Um, so that may be potentially. uh part of the motivation. I'm not sure exactly  what the motivation would be uh apart from also. the fact that silver is very closely associated  with gold. So there there's probably a number of. of reasons why it may be happening that I'm not  aware of. What is what is the US government I've. read this but I can't recall price its own gold  at biggest holder of gold in the world I think.

or supposedly yeah $4222 per ounce. Is that less  than the market price? Oh quite a bit less like. $3,000 less almost. That's how how do you how do  you do that? Well, the uh the Fed can uh choose. how it wants to value its assets. They can either  So, the Fed is magic. Is that what you're saying? It is. Yeah. Yeah. They can they can mark their  assets to market or they can mark them to cost. Uh.

they they have the the amazing power to uh value  or revalue different assets on their books. That's. part of the magic that we all enjoy. Uh uh so so  yeah it's it's it seems undervalued now there can. I buy gold from the US government at 42 bucks be  nice wouldn't it be nice yeah so there there are. people who have you know who watch the value of  the federal reserves balance sheet and market to.

market because there is enough information I think  that people are able to do that or you could look. at the money supply or take other barometers of  you what is in circulation. But there have been. a number of times um James Rickards uh who who is  a famous uh commentator on these topics. He's he's. written a few books about this topic. um and and  he describes in one of his books um I believe it's. uh the death of money uh where he discusses uh  the fact that the the Federal Reserve technically.

on paper marking everything to market has been  underwater a couple of times you know essentially. insolvent and but that that didn't include marking  the gold to market or revaluing it to some other. price which may be arbitrary or it may be act an  actual market price. And so it it would appear.

that the gold on the Fed's balance sheet has  always been sort of a standing tool like an ace in. the hole to say if we need to revalue this asset  to rebalance the balance sheet of the Fed of our. currency then we'll revalue that asset. What would  happen to since the United States is supposedly. the world's largest holder of gold, what would  happen to the to the gold price if they did that?

It depends on what metric you would want to use.  Um, people talk about the old gold standard uh. under the Federal Reserve where we had a 40%  reserve ratio. 40% of the value of the dollar. had to be backed by gold. um there's other ways to  determine it. So, uh if the value of gold were set. to say 40% or some other number, it's it's going  to be between, you know, maybe 20,000 and 40,000,

as high as 40,000 to to get that ratio back.  Now, many things could happen between now and. that point, which could change the the makeup of  the balance sheet of the Fed. So, who knows where. that number would actually end up, but it would  be multiples higher of where it is right now. Uh, I think it was Luke Groman who said that if we  wanted to get to a one:1 parody with Chinese yuan, we would need roughly a $22,000 gold price. And  that per ounce per ounce and and and and that's.

if we have the amount of gold that we actually  say we have. If we don't have that much gold, then the price goes up because the dollar goes  down in relation to what gold we do have. So, and that seems to be one and the dollar just  evaporates at that point. Depends how much. gold we have in that scenario. But it it would be  a serious blow to the confidence of other central.

banks into what is the dollar really worth in  some future scenario where uh international. currency settlement gets tethered to gold of some  type. And I think that there everybody's preparing. for that. Why are central banks net purchasers of  gold since 2005 and just upped it since 2002? So, a revaluation and a rebalancing has to come for  for peace and and for prosperity and for fairness, it's going to happen. If you're I mean, if you  were actually, as you so wonderfully put it,

tethered to reality, gold is reality. If  you were tethered to reality, you couldn't. have a ton of neocon wars. They've never been  popular. They wreck the country. Everyone kind. of hates them. But it doesn't matter what people  think because you make up the money supply when. you need it. I don't think we would have any of  these wars if if we were tethered to gold, right? And we probably wouldn't have hollowed out our  industrial base. Globalism wouldn't be possible,

at least in terms of the American version  of globalism, um, without that fiat currency. aspect. And and if we want to have say a uh like  uh Luke Groman who you've had on the show here, very smart guy. Yeah. Incredibly smart. Um and  and his his idea of the revaluation of gold to. obtain a parody of Chinese yuan to the US dollar  of one to one. Um that would be good for us as. well because the the Chinese yuan is so incredibly  cheap compared to the dollar. And I think that's.

been people have accused China of being a currency  manipulator to maintain that artificial cheapness. because it makes Chinese imports so cheap and  American exports to China very expensive. So. that's helped to fuel uh a lot of the offshoring  of our industrial base to China uh over the last. almost 30 years now uh since roughly 97 I think is  when that began in earnest. Um but that that also.

um is sort of a side effect of of maybe this  fiat currency system that not only are we able. to manipulate the world but maybe other people  are also able to use that system that's set up. against us and and and that's probably what's been  happening too in in terms of our relationship with. China. So, I I think there's a lot of problems  that we could solve internationally and even.

domestically if we were to return to some form  of an honest money standard, an actual standard. that everyone is held to. Yes. uh a set of norms  and and and that makes everyone forced to deal. honestly so that your word is your word and your  currency is your currency and we disclose what. these things are and we're transparent. That would  be a first step towards maybe rectifying so many.

of the the evil things that have happened. Well,  lying is evil and if you're in a society that's. where you're just you can't even get to the truth  then you know you have a huge problem. Um, anyway, I hope our small effort moves the needle a tiny  bit and I'm grateful to be in it with you. So, thank you, Chris Olson. Thank you. [Applause]  [Music] So, as you heard, that was Chris Olsen, one of the biggest gold wholesalers in the  United States and a genuinely, in my view, honest man. And we are starting a company  together that will allow people just normal.

people to buy gold in a very clear way. Price is  on the website. You can check the spot price and. you can know exactly what the markup is. We're  not in this to get rich, hope it's successful, but that's not the point of it. The point of it  is to make it easy and transparent for people. to buy gold because we believe it's important for  the reasons we just described. and and that's all.

sincere, but you can judge for yourself because  full transparency. Um, so if you're interested, the company is called Battalion Metals, Battalion  Metals, and the web address, not surprisingly, is battalion metals.com. And we're open to  any questions about this. We want to bring. honesty back to this business. There's no  reason it should be a scam or shrouded in. secrecy. By the way, secrecy is a tell for  dishonesty. Someone is hiding something, there's a reason they're hiding it, and we are  not hiding it. But you can judge for yourself.