Summary
âž¡ The speaker discusses the importance of silver, particularly its military usage, and the potential for its value to increase due to its current undervaluation compared to gold. They also touch on the possibility of changes in the economy, such as the shift from a 2% to a 3% federal mandate, and speculate on the potential dissolution of the IRS and Federal Reserve. The speaker suggests that these changes could lead to a new economic system backed by precious metals, and that the government may resort to quantitative easing to increase money circulation.
âž¡ The article discusses the potential economic impact of President Trump’s policies, including tariffs and border security. It suggests that these measures could lead to increased costs for businesses and consumers, and potentially inflation. However, the author also notes that these policies could have long-term benefits, such as increased domestic production and tax revenue. The article also highlights the growing interest in safe haven investments like gold, due to anticipated price increases and inflation.
âž¡ The article discusses the impact of high-risk fires on insurance policies in California. State Farm wanted to increase rates due to the high risk, but the Department of Insurance refused, leading to policy cancellations. The article suggests that the free market should have been allowed to decide the rates. It also mentions that proactive measures like cutting back brush can help protect properties from fires, but California regulations often prevent this.
âž¡ The text discusses the importance of diversifying wealth and not relying solely on physical assets, such as houses or luxury items, as these can be lost in unforeseen circumstances like disasters. It emphasizes the value of owning liquid assets, like gold and silver, which can be easily sold anywhere in the world. The text also warns against trusting banks with all your wealth, as they can legally keep your money in certain situations. Lastly, it highlights the benefits of investing in precious metals through retirement accounts, which offer control, liquidity, and security.
âž¡ The text discusses the importance of investing in gold and silver as a form of financial security and control, especially in uncertain economic times. It also highlights the services of Noble Gold, a company that provides information and assistance in this area. The speaker encourages people to be self-sufficient and proactive in protecting their financial future, and shares a personal experience with the company, praising its customer service.
Transcript
And he’s the author of a brand new book and it, the concept is right on the money and you can see here it says silver is the new oil Strategies for profiting from the next Industrial revolution. Colin, welcome to the show. Glad to have you. Congratulations on the book. Thank you. Fantastic concepts in here and really good to have you here. And let me just highlight one thing and I’m going to have you comment here. Unlock the secret to the next industrial revolution. Okay. Then it goes on to say this is the next wave that’ll create millionaires.
You want to pick that up there for a second? Yeah. Well, you know, when I started to put this, you know, your outline together of the book about two years ago, I, I wanted to see. I’ve always been fascinated with silver. Most of the books that you read out there, they typically talk about gold in our sector, which obviously I’m a big fan of and own a lot. And we’ve sold, we’ve sold a lot of gold. But I wanted to, you know, dive into silver a little bit more. I felt there was, they were missing, you know, some of the, the, the real story here of silver.
And what I really realized in doing my research is that in my opinion, silver today feels very much like how oil felt in the late 1800s where there was still so much opportunity to get into the business. There was so much opportunity and there was so much wealth created in oil in the late 1800s, early 1900s, all the way through, you know, that century there was, there was just tremendous wealth created. And that was the first thing that I realized is that it feels like that could be we’re in that same potential super cycle, industrial super cycle for the next five to 15 years, I believe.
So that was where that was my starting point. The, the other part of my book when I open it is it’s really interesting because it really parallels what’s happening right now, especially here in California. Is I talk a lot about how the government has really tried to give us free things to make us feel like we’re safe. And I get a lot into that because I, as I was writing the book over the last two years, we were just sort of coming out of COVID and I, I just. There was this malaise out there where just people felt like the government was going to take care of them.
And, you know, we had the PPP loans and, and, and all this free money that was put out there, and people think it’s free, but really what it is, it’s a, it’s an attempt to control, and that’s really what, what has happened. And then with the fires, I was evacuated with fires here in Los Angeles. And now when you see the aftermath of what’s happening, you realize that this is another example of control. And, you know, they are. The government will win in this situation. I mean, we’re talking about, you know, a few hundred billion dollars in damage.
There is going to be some government entities and some, some people around the government. They’re going to have significant profit from this, this absolute devastation. And, and I, you know, I, I can tell you I tried to get into my house a few days ago. We were not evacuated. We were in the next evacuation zone. And so I, I wanted to get my family out because the air quality is bad. I have young kids and just in the event that we had to leave. But I came back myself and the National Guard had blocked off my street, even though we were not in an evacuation zone.
And they asked me all kind of questions, and I had just moved into this house of. My driver’s license didn’t match up. I mean, they really put me through it. And I get the idea that they were trying to protect against looters, but I obviously had demonstrated that I live on the street. I even told them I’d come into the house and show them the code and show them the keys. They didn’t want to do any of that. They. They wanted to hold me back from getting into my home. And now, you know, there’s so much information coming out about this, about how the fire was started, you know, how they obviously could have prevented it.
And, you know, they knew the brush was there. They knew we were in a fire zone. These weren’t new things. There’s. There’s fire experts all over for the past 20 years that have been saying that this area could just go up as quickly as it did. So, yeah, so I, I think the, the book I talk about that in the, for just the opening chapter, I really get into these free money and you have to get away from this idea of just the government giving everything for free and you have to take ownership of yourself and there’s going to be opportunities.
And I, I make the argument that silver, I believe, is a great opportunity right now to make, to make tremendous wealth. You have a great statement here in your intro and I want to highlight this one right here. I love this. We stand on the brink of a seismic shift and people decide. The economists I talk to are all saying the same thing and they call it a great reset in some cases. I don’t care how you define it, this is the shift. This is a once in a lifetime super cycle where renewable energy technologies, electric vehicles, medical advancements will drive insatiable demand for silver.
But here’s the catch. The world is running out of silver. Current mining production can’t keep up. Experts warn that all known silver reserves could be depleted in 20 years. Hey, listen, if you want to be on top of what’s coming and to guide your investment policies individually, you need this book. Silver is the New Oil Strategies for Profiting from the Next Industrial Revolution. And on screen you’re looking at the Amazon order page and look how reasonable the price is. And I, and I agree with Colin. I’ve been saying pretty much on the surface arguments the same thing, Silver is where it’s at.
In fact, Colin, I’ll share this as an aside too. My wife and I are kind of going different directions because we got family responsibilities. We’re each taken care of individually. But we said, hey, our next time together, we’re calling Noble Gold and we’re ordering silver. And we’ve done that many times before. But this time we’re going to make it our biggest purchase ever for silver because I totally buy into what you’re saying here. Congratulations on the book and I think it’s a great public service. Yeah, thank you. Yeah. No, and, and you know, I talk about, you know, I get into different ideas, but one of the ideas, and you know, I always say this, I love gas cars, but when you look at the math, and I, and I do, I have a chart of this and the EV market, the car market’s been destroyed.
I mean, you could pick up some of these teslas for like $20,000 if you just do the math. If you buy a Tesla at $20,000 to fill up the tank, so to speak, in electricity costs, depending on where you live, it costs anywhere from six to eight dollars a normal tank. Today in most parts of the country is going to cost you anywhere from sixty to a hundred dollars. Exactly. So you’re gonna, not only you’re going to be able to pick up these cars, but you know, you can get a brand new one a year too old for 20, 25,000.
Not only getting them at a cheaper price, plus there’s a lot of rebates and different things the government’s giving you. But to be able to fill up your, your, to be able to drive and, and for 6,650a tank, which is basically, and I, and I put that in the book because I wanted to really illustrate that, that there, these are amazing opportunities, right? The fact that these cars are available and think about that for the next 10 or 15 years. If you went from $60 a tank, $70 a tank to $6, I mean this twice, twice a month, you’re filling up.
I mean it’s basically a hundred dollar savings every time. That adds up a lot over time, over many years. That’s just one car. Add all the different cars that you have available. So you know, as much as I, I do it and I still have gas cars too, but I have an electric because I know for puttering around my neighborhood to not have to pay any gas, it makes sense, right? You know, and then the weekends I turn on my gas car and I rev it and I love it. So I get into that a lot in the book.
And then the big thing, the big unknown about silver is the military usage, which they will not release. I tried to get information as best I could, but they will not release how much silver these. But you know, you look at all the weapons that we’re using, all the weapons being used globally, there is silver in almost everything that you’re using, from drones to the missiles to everything. And the government, if the idea that they don’t want the public to know how much silver they’re using is just a great idea of how much silver they’re actually using.
Right? I mean that’s, that’s a testament that they don’t want people to know because they don’t want people to hoard it right now. They don’t want, they don’t want silver to go away. They need it for, for, for their military use. So I dive into all of those things in the book and we can segue into a few other things happening in the economy. But I really did try to do charts and graphs, simple charts and graphs in the book and I think people will take a lot away from that, from that book. And, and, and I hope people love it.
I hope they, I, I worked hard on it and I hope people really digest it and they get into it. So, Dave, you’re, you’re cut out a little bit on my end. I can’t, I’m, I’m fluttering here. Okay. I don’t, I think I’m done fluttering. Okay. One of the things that’s really interesting, Colin, is I see a little discussion here and there about this, but I think you might be the first to get a comprehensive book together on this topic. Yeah, no, no one really just went after silver. They always do gold and silver. Exactly. And so that’s why I wanted to get into it.
And also the reason I like silver too is that it’s, it is easier for people to own. For people that couldn’t get into gold or couldn’t get into it. I, I think the idea that you can get into silver at the price that it’s at, you know, we’re at $30 today, a little below $30. The gold to silver ratio is one of the highest we’ve ever seen. Which means usually the gold to silver ratio, if you, if you go back the last hundred years, the gold to silver ratio is about 50 to 1. There’s been times that it’s been 14 to 1 or 18 to 1.
We’re, we’re sitting at about 90 to 1 right now. So that means gold has already shot up, silver hasn’t caught up. So even if you go back to the 100 year average and you’re looking at 51, that means that silver would more than double from where it is sitting today. So there’s just a lot of charts and graphs that you can look into to kind of explore those things. But you know, not to segue too much, but I think it’s important because we have the inauguration happening and there’s a lot of people that are like, what’s going on with inflation? What’s going to happen with the tariffs? What, what are these things going to happen? And I do want to dive into that because there’s a lot of things to discuss.
And I think the first thing to discuss is that, and I’ve been saying this for a few years, is that the 2% fed mandate, in my opinion, is gone. 3% is the new 2%. And they’ve proven that. And the reason, even though they haven’t come out and said that the fact that they lowered rates last month would indicate to anybody that they have given up on the 2% number. Because why would they lower rates if they’re already at 2.7. You know, the CPI just came out, we’re at about 2.7%. If their true goal was to get back to 2%, they wouldn’t have lowered rates last month.
So I, I do believe 3% is the new 2%. Kind of like 50 is a new 40. I don’t know if you’ve heard that phrase, but yeah. So anyways, I think I like to move that number a little higher, but 60 is the new 50. Yeah, that’s what I’m saying. Yeah, exactly. So I, I think that, that, and I don’t know what your thought. I’d love to hear your thoughts on that. But that is something that I believe has happened, whether it’s been, they’ve, they haven’t said it publicly, but the fact that they’ve lowered rates is sort of an indication that they’ve given up on the 2%.
Okay, you’re asking my thoughts. I’m going to give you a tinfoil alert here. Okay. Because I totally agree with you and I’m going to stretch this a little farther. Trump came out yesterday and said we’re getting an External Revenue Service to collect all the stuff that foreign countries are making money on us for and the tariff collections and so forth. And, and Trump is, is definitely moving in the direction of precious metals basket currencies to back up the dollar. And I think he’s going to partner with Russia and they’re going to form a brics, like organization.
Not brics, but brics. Like in terms of there’s a downline and Russia and America are at the top and China will have a choice to make now. New world order or do you want to go with the guys that are going to win? But here’s where I think this ends up. I think that what we’re looking at right now is the beginning of the end for the IRS and taxation as we know it. I think it’ll either be flat tax or no tax because we didn’t have income tax until 1913. We don’t need it. If we manage correctly, if we just keep the globalists out of our back pockets.
And then the third thing I look at, Colin, is, is this, is that not only are we going to get rid, I think, of the irs, I think we’re going to get rid of the Federal Reserve. They’re not going to be needed. They’re to counterbalance to ridiculous spending. And if we don’t have ridiculous spending and we go to basket currency backup with precious metals you don’t need the irs, you don’t need the Federal Reserve. There’s my tinfoil hat moment. Well, yeah, I mean, I think, yes, I think that all those things need to happen. I think that, you know, the, the concern with the Federal Reserve is always that the way the Federal Reserve is set up now is that it’s independent in that who would, who would be in charge of Federal Reserve? And that’s always my big concern, is that there’s no Federal Reserve.
Is it just go back to the government and the same politicians that are overspending? That’s, that’s my big concern. I agree. So how do you, how do you, you know, how do you fix that issue? I have one, I have one answer to that, and it’s not a perfect answer. With the Federal Reserve, there’s no accountability. With Congress, there’s the chance of accountability. That’s true. That is, yeah, that’s a good point. And I think you’re right. I mean, you’re right. I think that the Fed has sort of gone away from their mandate because they’re not, they haven’t tried to get us back to 2%.
They, they moved away from it. If, if you look at the Federal Reserve and you look what’s happening, how we’ve pushed the dollar strong, the reserves on the Federal Reserve are quite low right now. And if you look at the debt of the world, the debt of the world is quite high. And so my thinking is, is that they need to continue to push rates down because obviously we’re borrowing against ourselves. Right. So having high rates hurts us too. Right. It makes it difficult for us also. It just hurts real estate and it hurts a lot of things.
So. But if they, if, if inflation continues to go up, you know, our last report was up, I will say that there was some positive in the last inflation report because, you know, if you look at core inflation, it wasn’t as high as what they estimated. That was down a little bit. So. But if inflation keeps moving to 3% and they can, and they say they’re going to lower rates, I don’t know how they really get away from the idea of this 2% number. So I’m wondering, and a lot of people are speculating on this, is that how do they get more money out into circulation? And I think they’re going to do quantitative easing.
I think we’re going to see an opening up of the money supply because there’s going to be a battle between Trump and Powell this year. It’s going to happen. It’s going to happen in a month. They’re going to go head to head. And the way that it’s set up is that Powell is in office for another year. That’s the way that the law is set up currently. So President Trump just really doesn’t have much power there in the current state. They’re going to go head to head. So how is the economy going to move? How are they going to get things going, coupled with the fact that obviously we’re going to secure the border.
And that’s a massive expense, right? That’s a massive expense short term. Also, if you look at moving all these people out of the country, that means that the cost of labor is going to go up, right? If you’re, if you’re taking a lot of these jobs that people here in this country don’t want to do and are, or we’re going to have to raise wages. So wages are going to go up, which is going to cost the business owner. So there, there is, there’s a pro and a con to everything that we’re doing, right? Is, is moving people out, is the expense of moving them out, and then the cost of labor is going to go up.
Now, big picture, you add that and you add tariffs, you add the two things there. There’s only one thing that can happen in those two scenarios, and that’s inflation. There’s no way around inflation with tariffs. And I’m even seeing reports now that people are loading up on purchases right now because the thought is buyer, they said computer costs could go up 15, 20%. And that’s just one area. But there’s many other areas that you can look at of things that typically get shipped. And we buy here in the US that could go up anywhere from 10 to 40%.
So I’m seeing people right now buying these things before this happens to get their purchase in so they can buy these things at a lower price. I could be the dummy who gets holding the bag, but I’m not worried about tariffs. And I base that on Trump’s first term where the threat of tariffs was there. American businesses came back with tax breaks, so there was a carrot and stick approach. But also with these foreign countries, they can’t outlast the United States economically. They can say, well, we’re going to make your people, make you get rid of those tariffs because of the higher prices.
I don’t think they can outlast the American economy. So I think it’s possible to. That tariffs are really no more than of small, intermittent punishment to get compliance to American economic policies and demands. And I think that these countries will eventually capitulate. I think, oh, I 100% agree with you. But I do think in the short term these are, these are a lot of goods that are coming here that we are not prepared to make or create. We’re not in a position. So in the short term the cost of goods is going to go up. The cost of buying day to day items is, is going to go up and people are getting prepared for that.
And I, I even think with precious metals, people are starting to buy precious metals now because they’re anticipating that the price is going to continue to go up because if everything, if, if, if the ship is rising, everything is going to get more expensive. And I, and I think, you know, you look at the global world of, of what safe haven investments and what are people looking at today? And, and there’s tremendous buying of, of gold in the World Central Bank’s gold. They bought tremendous amounts last year. I mean, unbelievable amounts of gold buying China. You know, a lot of people don’t know.
Yes, people in China can go to exchanges that are outside of China and they can find ways, but it’s not that easy. Crypto is banned. Crypto buying is, there’s no exchanges in China. So the Chinese people, when they want to buy a safe haven, they’re not going to crypto. They’re buying gold that shape, they’re buying gold. Tremendous amounts of gold is being bought in Shanghai that’s continuing to push the market. So as much as we’ve had this alternative asset, you know, craze that it’s happening and, and it will continue to happen. There are places in the world where buying crypto is not that easy and they’re just going to continue to buy gold.
They have to find a solution today. And I think that’s the thing that we really need to think about is that there’s going to be people that are going to be looking for safe haven investments right now. They’re going to continue to buy those. And if, if, if I’m right about inflation and if inflation is going to keep going up and grow past 3%, I will tell you the money in the bank. When the banks are paying an average four to four and a quarter percent and the actual government number is 3%, you’re only making about a 1% arbitrage based on the government’s number.
Right? You’re only making 1% more. But if you look at what gold did you look at since 2008, gold has outperformed government bonds by 160%. So you look at these numbers and it’s like, it’s one thing when the, when the percentages are small and it looks small, in one year, right, Take out last year of, of gold going up 25. Let’s just say a normal year of gold of 7 to 10%, you’re still going to lose a few percentage points with the money in the bank. Even best case scenario, best case scenario that inflation’s 3% and it doesn’t go out back to seven or eight or nine, the banks are only paying four, four and a quarter.
So there’s always going to be this arbitrage in limited supply items in precious metals. There’s going to be this arbitrage as long as we’re in this high inflationary world. And I think this high inflationary world is not going away anytime soon, unfortunately. The thing you have to think about is the measures that Trump, the reason that no president has ever gone after tariffs is because it’s expensive and it costs money. And it’s because Trump thinks like a business person, right? Spend money to make money, right? Like his goal is spend it now. Go after China, go after Canada, buy Greenland.
You know, these, all these things cost money. And then in the end we’ll have more tax revenue here, right? We’ll have higher gdp. This is all, this is a business mindset, right? But those things are going to cost money. And I’m saying in the next, this year alone, we’re going to see things get more expensive, it’s going to get harder. And I think that that’s why people got to look at being diversified and looking at different assets. You know, it’s, this environment is, is, and you can look it up anywhere right now, but this kind of environment is, is really fantastic for.
Well, let me ask you a question, because you stimulated this thought in me and maybe it’s a silly question, but I’m wondering if people like me that are dedicated to gold and silver and trying to keep cash holdings to a minimum, I’m wondering if we shouldn’t look at this is building our own bank. I think it’s a great way, it’s a great way to look at. It’s. You’re building assets, right? I mean, the idea of buying Greenland or taking over Canada or doing all these things is. It goes to Trump’s career going into debt to buy assets, right? That’s, that’s how he built his wealth.
He went into debt to buy skyscrapers, he went into debt to Build businesses. Right. I mean, and, and he took some chances and some were good and some were bad, but the majority, he bought assets that were irreplaceable. And I think that’s his mindset with the US Right now is I need to secure assets that are irreplaceable and, and no matter the cost. And, and that in the short term, you know, because if you look at it with the tariffs, I mean, every report has said every company is just going to pass the, the increase in cost.
They’re going to pass it on to consumers. They’re not going to eat that. Exactly. Yeah. Yeah. So there’s no, there’s no way to look at it. Now. Does it make it better in the long term that we’ll start buying more of our goods here? Of course, course it does. Does it add more tax revenue to us? Of course it does. Because how many billions and billions and trillions of dollars are we losing by buying so much of our goods overseas? Of course it’s the best strategy long term. It gives us independence, it gives us wealth. It brings back, you know, people starting to think and buying in communities.
I mean, this is what, you know, this is what does build us long term wealth. But there is a cost short term. And I think that’s the thing that people need to realize and they need to look, you know, don’t just believe what I’m saying. Look it up. What they’re saying about some of these measures. In the first six to eight months, 12 months, there’s going to be a cost and there’s going to be tremendous profit. There’s going to be some unbelievable. I don’t think you even need to validate it because it’s common sense. If my wife and I go out and buy a home, okay, we’re going to get set back for a while because we now have the added expense.
Right, Piti. But at the end of 15 years, when I recommend you pay it off in 15, at the end of 15 years, then you’re sitting on a great asset and you’re not paying into it other than property taxes and home maintenance. So I think what you’re saying here makes perfect sense that you got to invest in the future. Yeah. And I will say you, I’ve been thinking and talking to a lot of people about the fires and there’s a lot of things that people are not factoring into that’s been lost, like value lost. When State Farm canceled those 60.
Those policies in the Pacific Palisades, which, by the way, you know, they’re seen as the bad guy here. But I’d like to speak to what really is the bad guy here in this situation. And I will tell you the Department of Insurance had an opportunity to keep State Farm. State Farm would have stayed in California. They would not have non renewed. They went to the Department of Insurance and they said, listen, the risk is too high here. We need to be able to increase our rates. And it was a lot, don’t get me wrong, it was an unbelievable number.
But the Department of Insurance has always played this game and the game that they’re playing is we’re going to push you to keep rates low. And the reason they want to keep rates low is because they want home values to go up. If you think about it, if insurance actually went up the amount that it should, home values would be less. So it’s a double edged sword because if someone has to pay for some of these homes, they were probably paying anywhere from 10 to $15,000 a year. State Farm said we got to charge 30,000, 35,000.
Right. Because the risk is high. The, the risk went from a one in a thousand, risk that a house would burn. In their actuarial numbers, they went from one in a thousand to one in three hundred or one in two hundred. So when an actuarial looks at those numbers, they say, well, if it goes from a one in a thousand to one in two hundred, well what do we have to do? We have to charge more money. Right. We have to defer the risk. We have to defer the risk by getting higher premium. And so the Department of Insurance said no, we won’t let you increase the rates.
So they said fine. And they canceled all these policies. Well, obviously they knew that there was a tremendous risk there. This wasn’t, this wasn’t, they weren’t the only ones that canceled policies in this area. There were other ones. They were just the biggest. Yeah, so I, I think there’s, there’s a lot to be said of allowing the free market to charge because ultimately if they had charged triple or quadruple the price from the year before, the buyer of this insurance could decide, let the buyer decide. And I guarantee you some of these people would have paid it.
They would have paid to stay. State Farm is a good insurance company. They, they, they’re, they pay, they’re been around a long time. And what ended up happening is that most of these people went from a State Farm policy that would cover their, they said the average house in Pacific policies is worth three and a half million. So these let’s say these people paid. They. Right now imagine they’d be feeling so much better about their situation. But it had to go to California Fair Plan, which is the state policy. The maximum California Fair Plan does for a home is $3 million.
Now there is insurance on top of that, but they would have been in a much better position if they were able to continue. And some of the people would have said it’s too expensive. Some of the people would have said, I’m going to go to California Fair Play. But at least they would have had the option. Right, These people would have had the option, but the Department of Insurance tried to dictate things and they, in my opinion, they got cute and they, they screwed these people. They screwed. They screwed because they should have let the free market decide.
They should have let people decide if it’s too expensive. Right. And so that’s an underlying story that people don’t really want to talk about. Is the Department of Insurance having a hand in this? Obviously, there’s other things that could have been done here too. You know, you look at the Getty Museum, the two Getty museums that have locations in both of the locations that were burning and had no loss too. And it’s because they would every year actively and proactively cut down their brush and do burns. And so both of those locations survived. The Getty Villa isn’t.
Is basically in Malibu. So they survived because they proactively burned the brush. Yeah. How’d they get away with it? Because I understood California regulations, their version of the EPA prevented people from doing this. That, believe me, they did do it. When you look at what happened to the Getty Villa, look. Look at what happened there. They. They’re right there where all the fires were. And the only thing that burned, there were some, a little bit of some trees and stuff that are below the villa. But all their artwork, all the billions and billions of buildings, everything there survived because they were proactively.
Every year they would burn and cut back their. Do you think they’re going to get fined because they are in violation? Maybe. Yeah, that’s. That’s true. I didn’t think about that. Well, Newsom’s a nut and he’s a climate scam nut. And, and listen, everyone who knows anything about firefighting is on the record now across the country saying, how do you not cut butts brush. Well, the answer they’re getting back is, well, California regulations won’t let us. So, you know, there’s got to be a fine attached to that. But I’m Glad to see him do it. There needs to be civil disobedience against this.
Do you think there’s anything to the notion? And my friend Paul Preston, who’s got a really big show in California, he calls it disaster capitalism. And he says that when Newsom needs money, there’s always a big fire and they get the federal money. Absolutely, yeah. 100 agree with. You agree with that? Yeah. Oh yeah, absolutely. I mean, this, they will be, this will be one of the massive transfers of wealth in California and they will be tremendous victims of what’s happening. Because even with the insurance, if people had insurance in different places, it’s only going to cover for some of the people that I talked to have about six months of loss of use.
So they have six months, they can stay somewhere else and the government, then they’ll pay for it. But what happens when that six months of insurance runs out and you’re having to pay for an apartment or a house somewhere and you’re having to pay your mortgage? Exactly what’s going to happen, People are going to be able to afford that. So there’s going to be a lot of people, unfortunately are going to have to walk away from their homes. And you know, the value of the land is going to be what someone’s willing to pay for it.
Right. It’s going to go down. So you’re going to have all this wealth come in and buy places. And I’ll tell you, before this happened, this fire happened, I was meeting, I met with a few commercial real estate brokers here in Los Angeles, friends of mine, and they were saying, you know, who’s the biggest buyer of apartment buildings in the last 12 months in Los Angeles? The city of Los Angeles. They just bought a few hundred million dollar apartment building in Woodland Hills. They are buying tremendous amounts. So it’s so interesting that we’ve had this terrible real estate market where people can’t buy stuff and this stuff’s happening and rates are too high and the city of Los Angeles is coming.
You can look it up. They just bought a massive building in Woodland Hills with, for a few hundred million dollars. They come in and buy it, they have all this cash. So it’s like all these things are turning over. They’re either turning over to the government or they’re going to turn over to friends of Newsom and there’s going to be a lot of wealth that gets transferred. And the sad thing is, is that that Altadena area was one of the last middle class safe havens in the state of California. Just a beautiful community of people. We had one person here that works for us that lost his home.
And eventually you’re, you’re going to see it is that a lot of these people are not going to be able to stay. They’re going to lose it. They’re going to end up selling it, and there’s going to be some big winners from this catastrophe. And, and there’s so much value and so much wealth that was lost because think about it, and we haven’t heard this happen, but it’s going to come out. How many people had bitcoin on a, on a, on a key in their home in the Palisades? That’s. Oh, my gosh, I didn’t even think about that.
How many millions of dollars in crypto was lost for people that had their stuff online? How much cash, you know, people keep cash in there. How much cash was gone? How much, you know, there’s some coverage for artwork on our insurance policy, but never really enough. How much gold, jewelry. You know, these are things that people don’t think there was on top of just the house. And on top of it, there’s just so much wealth that was sitting in people’s homes that they’re going to lose. You know, when I left my house, I put my gold and silver in a, in a bag and I got out of there, right.
And just moved. And I was able to move some wealth in a backpack. You know, that there’s other things that people need to realize that having. You know, I was talking to a woman that was telling me that she lost her purse collection, and it’s like she always thought this, these purses were going to be worth a lot of money down the road. And maybe they would have been. Right, Maybe they would have been, but now they’re not. And there’s really no value in there. And her house is burned. And it’s so it’s, you know, it’s this misconception of what investments are, you know, in home.
And people justify buying a chanel purse for $10,000 because they say it’s an investment. But really those things aren’t investments. You know, true investments are things that, that people will buy and sell anywhere in the world that are liquid, that have tremendous value and are not just built up because of a brand or a brand name or any of these things. So, yeah, I mean, I think people unfortunately, going to learn a lot of lessons of, of what, what. Actually, there’s another lesson to learn, and you’re absolutely right. But the lesson that people should have learned.
I’ll sum it up in one word, Lahaina. Because what you’re describing about maintaining two residences, the developers are going to pressure people to sell for undervalue. All of them asset managed by BlackRock, Vanguard and State Street. We’re going to see. You’re right. A huge wealth transfer. And it’s the same darn thing that happened to the people in Lahaina. And I know, I was actually working with and publicizing stuff for the indigenous leaders in Lahaina and Maui, and Sarah Westall and I were working on that project and we did our very best. And the most that we got was they got a moratorium for about two months forgiveness of a payment for their destroyed home on the mortgage.
That was it. They got no other concessions than that. And we’re looking, I think, at potentially, I don’t know, hundreds of thousands of people displaced permanently. Yeah. And what about that bank? What about the bank of America that burned? You know, people, people ask me every day, they say, you know, should I put my gold and silver in a bank? And I say, listen, safety deposit boxes and no insurance. I mean, when you sign that paperwork, so anyone that had cash or anything in there in value, that, that stuff’s gone. You’re not getting any of that back.
Dodd Frank, 2010. When you put your money or associate your retirement with a bank, they can keep it. You’re an unsecured creditor. It’s the law, Colin. I know you know the law. I’m saying it for the benefit of our audience and these bank of America investors. This is why, like when I do ads for Noble Gold, I’m saying you want to put your faith in the credit of the bank where they can just steal your money if they get into trouble or they have a loss, they can just say it’s ours now. Or do you want to own something? Like with your retirement situation? I think it’s wonderful.
You can back up retirement, put it in people’s names, they own it. And you back it up with precious metals that appreciate rather than a dollar. That’s depreciating to me. And it’s insured, you know, all of our metals are insured by Lloyd’s of London for full loss. And so that is something that people can rest easy. And they own it themselves. They’re not buying a share with us in the ira. And, and I’ll tell you, it’s, you know, the thing that’s sad is sometimes these, these things are wake up calls, you know, unfortunately. And, you know, this American dream of, of having all of your net worth in the, in your house.
And, and is, you got to be diversified. You got to have. And the, and the problem right now for people is, is staying power. How long can they hold out? Because, yeah, those values will come back, but it’s probably going to be five years. It’s probably going to take people five years to, to actually get back and living in their homes. Right. But to the middle class people that are already struggling, there may not be a way back for a very long time. You’re 100% right. And then the only way is, is having assets and that, you know, the, the thing that I always really see happening right now is owning assets are more important than ever in today’s world.
Today’s, today’s economy is. Yeah. Real. Absolutely. You’re so right on the money. You know, our, our mutual friend Ian came to me about eight years ago and said, Dave, would, would you like to represent Noble Gold? He said, it’s really a good company. And I was advertising for you for about five or six months. Ding, the light came on and all of a sudden I said, I gotta be doing this. And, and people are crazy if they put their faith in the bank, keep operating capital, the bank. My wife and I just had another discussion on this last night.
We’re gonna do more silver purchases because you, you know, it’s not that we’re rolling in cash, but we don’t want to exceed where we’re at. We want operating capital where we can exist in the present economic system. But we’re taking our wealth and we’re going precious metals and we’re going to continue to do it. And what I really like what you do with the retirement. Can you talk about that for a second? Yeah. So any IRA, any old 401K, any TSP, any of those accounts are eligible. And what we do is we just help you get there.
You’re going to acquire the metals from us, but we do all the paperwork, we do all the heavy lifting to help you move those accounts, but everything is in your. Sometimes people think like, oh, we’re, we’re in control, but we’re not in control of it. Your metal is stored in a segregated depository with your name on it. We just get you there and we’re there for the service. The thing I always love about the IRA for people is that they are ultimately in control of their ira. So, you know, people that need it, you know, there’s going to be people that need this IRA money to maybe rebuild Their house, right.
They have access to it, they can get access to as long as they’re above 59 and a half, there’s no taxes. You know, they may owe taxes, but there’s no penalties. If you’re below 59 and a half, you may make sense, you may want to sell some of it because you need it for your house or whatever the reason is. So you know it is liquid, it is yours at retirement. If you want to take the gold and silver as your distribution, you can do that. So our job at Noble Gold is just to store and get you there and we help you get into bullion, coins and bars, the things that the central banks are buying.
When everyone’s seeing all the central banks buying, they’re buying bullion, they’re buying bullion bars. Comex buys bullion bars. And, you know, we bought from the same places, the same mints as Comax has bought for all these years. So you’re buying the real thing. The cool thing is you’re buying the real thing. You’re not buying an ETF and you own it by yourself. And that’s what I’m talking about is owning assets by yourself today is the best way to build wealth. That’s the way to build wealth. And I think that’s the key to this new economy is don’t get tricked into like always being a renter or always own or borrowing things.
Like, you got to own some things by yourself. Because in essence, in the state, the state and the city, they’re buying assets, they’re buying apartment buildings, they’re buying at. City of Los Angeles is buying these things. They’re not. They’re not borrowing, they’re not like, oh, we’ll let the landlord own it and then we’ll put our, you know, section eight tenants in it. They’re buying it themselves. I mean, the city is buying it themselves. So think about that. Think about why a city would want to buy assets. They’re trying to take more control. And I think that’s the thing is doing gold and silver gives you some of that control back.
And I think that’s what people are looking for. No, and you’re exactly right. And the other thing is too, is I was having a conversation with a guy that works in the stock market and he’s very successful. And he said, you know, Dave, gold and silver, and he’s a market guy, he said, gold and silver is really your fire insurance now. Absolutely. And that’s why I’m saying that’s what gave me the idea to Ask you the question about could we really look at gold and silver as starting your own bank because then you have insurance, spin off and so forth.
And I have to tell you, we are working in that direction because I trust Donald Trump to do the right thing for America. But if people think he’s going to flip the switch in the first year and it’s going to be heaven on earth, it’s not going to be. They are laying substantial roadblocks for, for him. The Democrats are actively trying to destroy the economy, hurt the banking system. And I talk about it every day. He has to overcome all that. But I think brighter days are ahead. But in the meantime, people better learn to be self sufficient.
Yeah, yeah, I know we’ve kind of run over time, but I just wanted to, to leave people with this. Take a lesson for me. I was just an advertiser that came to Noble Gold and I found out what a great company it is. They, by the way, they never pressure you. You, I was shocked the first time I did a deal. I had to close my own deal. People are so polite. And I said, yeah, I’m ready to go now. Okay, Mr. Hodges, have all your questions answered. Yes, the best people to deal with. And I’m telling you, if you got a retirement in the bank, get it the heck out of the bank now.
Unless you want to start over. And the dollar, you can’t trust the dollar. We don’t know what’s coming with the end of this age economically. So I really recommend you go to Noble Gold. I’m going to give the number out here, 877-646-5341. That’s 877-6465341. And also too, I’ve got a webpage dedicated to noble gold. Davehodgesgold.com you can put in your email. I’ll send you out a free information packet, no obligation. And then you look at it, you go, okay, I’ll call that number to Noble Gold. But folks, trust me, the Deep State is trying to derail the economy to stop Donald Trump.
Now is the time to make your move. Not, not in a month, not in three months. Right now, today, tomorrow. Colin, this was one of our most interesting interviews and I really appreciate how you’ve shared your experience with the fire and praise God that you and your family came through it. Thank you so much. I appreciate it. And actually, when you call in, I know you work with Hope at Noble Gold. I do, yes. Should talk to her about her because she was displaced. Oh my gosh. Her house is is right in in the Eaton fire area and her house luckily survived.
Her husband’s a firefighter so I recommend calling and talk to her about her experience but thank you everyone and and and I hope everyone that’s out there is safe and does everything they can to protect themselves and just you know we’re here giving out good information so give us a call. We’re here to to give you good information gold and silver free information. Talk to somebody and and learn. This just breaks my heart. I remember no Hope was so patient with me when I was asking the rookie stupid questions and she spent all the time in the world because I wanted to cover every dot and every eye and all that and my wife is worse than I am and she was so patient.
She’s so kind and I’m so sorry that happened to her. I’m going to reach out to her. Thank you for letting me know. Absolutely and thanks so much Dave. We’ll talk soon. Okay thanks Colin.
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