Episode Transcript
[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation, or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:18] Speaker B: This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. Junior and Anthony are committed to helping more Americans like you optimize, reduce their tax risk, and reach financial freedom. So let's start the show. Here are your hosts, Anthony Corrello and Junior Rochford.
[00:00:43] Speaker C: Here we are your hosts, Anthony Corrello and Junior Rochford. Taking a break from our day to day as financial advisors with Rochford and Associates, fully independent, fourth generation family office right here in Sun City to bring information you may not find on those other financial shows. We are aware the last thing you need is another money show, but we appreciate you being here. And this week we've got another special guest for you. And junior is very, very, very excited about this one. Who do we got?
[00:01:12] Speaker A: So, and James, if you're listening today, hang in there. You're going to like this guest. So the, the last guest we had on you are, you are if you on this one's a good one. And I'm going to try to do most of the talking with our guest. We'll try to keep Anthony muted as much as possible. So today is a big day for us. You know, when Anthony says, we're bringing you stuff you might not hear on the other radio shows, this is something you've heard on another radio show. We have got Joe Jaquent with us. So Joe is with the Patriot radio news hour. And I know you've heard us mention this over the years. I have been a loyal listener of Joe's when I can, when I'm not in appointments for at least a decade. I turned Anthony on to Joe about six years ago when he came in the office. And the odd thing, I have probably sent between 200 and 250 people over to Joe, and I've never met them. So after the show, we have committed to meet each other in person and help each other in business. So let me give you a little background, then I'm going to turn it over to Joe to give you some further background. And yes, Joe, I stole this directly off of the Salem website. So Patriot Trading Group was founded in 1996 and serves as a leader in providing hard assets directly into the hands of its customers. Patriot has flourished during this time by being different type of hard asset company, believing in treating every customer with honesty and respect while providing a daily education through its radio program and its website. So this, and I can tell you what I mean, we're going to tell you how to find Joe a couple times, but wait to hear this guy. What do you think? Joe? Tell us a little bit about yourself.
[00:02:50] Speaker D: Hey Junior. Thank you so much Anthony, for not only allowing me to come on being fans of the show that I've done, I've started listening to you guys. It's funny is one of my customers told me about you guys and that's kind of how all of this came about. But I've been doing radio shows for over two decades and really trying to educate people about diversification. You know, not having it, you know, all of your money in any one place, whether it be the stock market, the bank, housing, what have you, having that balanced portfolio. Obviously gold and silver have done extremely well as the fiat money system. The debt money system continues to race ahead and just really trying to educate people on, on things that maybe you won't find on the cheerleading stations like this, you know, the Fox and the CNBC's and you know, I don't know about everybody else. I still have DirecTV, I'm still not that hip. But there's like six different stock channels out there, you know, all telling you the same thing. So we just try to educate everybody and do it in a non salesy way as best we can. And of course, the biggest part is not ripping people off. That's the other big thing, right? Treating people the right way. We're going to make a little bit of money, but we're going to be here for you. We're going to treat you fairly. And the nice part about it is we don't make outbound phone calls. We don't contact our clients. We don't do any of that stuff. It's the exact opposite of what sales is. If you want to talk to us, if you want to ask questions, you want to buy products from us, you're going to pick up the phone and call us.
[00:04:40] Speaker C: You're the resource. That's nice. That's not a salesperson, a resource for those that need you.
[00:04:46] Speaker A: And I again, listen to you for over a decade, I'll tell you what I mean. I used to talk about having a radio show years ago and I thought the one thing I don't want to do is have an hour long infomercial. I want to bring people current events, how they're going to affect our future, our finances, our lives. When I started listening to you, I was like, that's exactly what I would do. And I'm going to warn people. There are two Joe Jaquens. There is the calm, the measure Joe, and there is the excitable, animated Joe. If you want to fit in with our show, get excited with us today, Joe, because I can tell you what we are. You know, our motto is, we want you prepared, not scared. We want you proactive, not reactive. I have been so tempted to steal one of your mottos that I read years ago. What is it? We want? To comfort the disturbed and disturb.
[00:05:40] Speaker D: And disturb the comfortable. Yeah.
[00:05:43] Speaker A: How on earth right now in this world are half, how come half the country is comfortable right now? Last night was the big unveiling of the new season of the mass singer. My wife's one of them. She sits on the couch watching that trash, I'm sorry. Watching that wonderful show, and I'm over here looking at YouTube videos on unrest in different cities and countries. And I just, you know, our whole thing, we, I've kindly admitted to myself recently, we do want you scared because people are not preparing, you know, my heartburn. We've been on the radio for two and a half years telling people there are all these things coming your way. We need you prepared. And now I'm shouting because I think it's crunch time. So. And I re, I mean, oh, I listen to your show and you do. You definitely make people where you shake people up and you never run out of things to say. That's us. And you're doing it 5 hours a week. We're doing it 1 hour a week.
[00:06:39] Speaker D: Yeah. In the funny part is, after I do the gold show, if you will, like you said, it's not an infomercial. We're talking all the latest things. We go over all the economic reports. Like tomorrow we're going to get the CP deflator inflation report. We're going to talk all about that. The effects of that we talked about this week, like Warren Buffett dumping more stock and of course, talking about what's going on in the treasury markets and the debt markets and the government shutdown and all these other things. There's no lack of things to talk about. But the biggest thing is they created the boom and bust cycle. I didn't create it. You didn't create it. That's what they wanted to do and that's what we have. And we're just getting ready. Unfortunately, they've decided, obviously, with the rate cuts that we saw last week they decided, hey, we rather just go for the big bubble blow off top, which I think is coming. And I hope people are getting ready for 2025. I called 2024 this whole year. I call the year of chaos. I said that in January. I've been saying it all the, all along. This is going to be a chaotic year. It's been a chaotic. Look at all the things that have happened. Of course, we got the election coming on November 5. Who knows what this country is going to look like come the 6th. But after all of that, I hope people are ready for 2025 and beyond, because if they aren't, they're not. They're not doing what they need to do. They're going to, they're going to, they're going to be in a world of hurt. There's no doubt about it. And there's ways to not be in that situation. Talking to guys like you, talking to guys like me. You can really do a lot of things to look out for yourself. If you think somebody else is going to look out for you, that's exactly what they want. They, I'm just going to put my head down. Watch, as you said, the masked singer dancing with the stars. Oh, what, what, what happened with P. Diddy and all this other stuff? Hey, that's great. Be ready for the consequences of not being prepared.
[00:08:45] Speaker A: Amen, p. Diddy. It's football season. Who cares about the end of the world? It's football season. So. Yeah, no, and you hit a couple of things. I do want to get into some of the things that you talk about regularly and we talk about weekly, you know, government shutdown. What government shutdown? I know about it. You know about it. Most of this country has no idea about the government shutdown, and we've already averted it. So we don't have to have a distraction for the political season. We don't have to discuss it. Yeah. A fed lowering the, the interest rate. You know, we dug into that last week. One of my problems with that whole thing, the Fed is data dependent. I mean, the Fed, you know, they're, they're forward looking. All the data is flawed. So when you, when you're data dependent, you're using flawed data. Isn't that kind of a broken system?
[00:09:27] Speaker D: Yeah. You know what's so funny is Jay Powell admitted it last week when he cut the rates 50 basis points. He literally said, well, the government's job state, it's not right. It's not right. But yet somehow. Yeah, they're data dependent. They're supposed to be looking forward. They're always looking backwards, which of course means all as you can do is be reactive instead of proactive. But let's face it, the central bank, the people that have run the Fed, they've thrown in the towel. You know, Alan Greens made you go back to the late nineties during the good old times. You know, the debt was $4 trillion, $5 trillion. We're going to pay it off by 2010. Well, now look at it. The debt's 35, almost 35 and a half trillion dollars. No one talks about balance budgets. And the Fed now is cutting rates with GDP, according to the data, is 3% and the unemployment rates only at 4.2. That would have been, we need to raise rates in any other environment, but now they need to lower rates. And junior, they put themselves in a box. There's no good choice for them. They should have either fought inflation and tried to rein in the money supply and crash the economy, or what it looks like they decided to do. Let's just print money and print a lot of it and we'll blow it all up and then we'll bring in digital money later.
[00:10:46] Speaker A: Oh, man. I mean, that's one of the things we've been railing on that, you know, we were two and a half years ago when we started, we're hitting that executive order 14067. We're trying to explain to people that they have a plan. I mean, you know, you talk of them being reactive, not proactive. I'll tell you what, when it suits them, they are very much reactive. You know, the central bank digital currency, we're watching Wyoming right now and how close they are to having their own, I mean, you know, fed now we're watching all this stuff. We don't know how else it ends. Obviously, the big Bricks meeting on October 22, third and fourth. So this is insane, though.
[00:11:20] Speaker D: Yeah, that's a big, that's a big deal. De dollarization's a real thing. The BRICS especially, over the last two weeks, they've released a lot of information about their bridge payment system that they're running through the, through the bank of international settlements. They're tokenizing, and now they're just debating. I think what we're going to see is the framework of how that currency is going to look. They, there's going to be the basket of brick nations with their own currency.
They're talking about a percentage of that basket is going to be gold backed. Right now there's, people are throwing around 40%. I think that's, that would be wonderful. For me, I don't think that's mathematically possible. But we're going to see all of these nations, and by the way, there's 34 countries that have asked to join the BRICS on top of the eleven that are already part of the BRICs. And people just need to understand what those countries are trying to do is they just want to hold less dollars. And how do they hold the dollars? They hold it in treasuries. We need to sell trillions and trillions and trillions of dollars, and all of a sudden, you know, half the world doesn't want to buy as many anymore. It creates this unique problem, which is why you see the Fed just going in for money printing, because what else can they do?
[00:12:39] Speaker A: Well, and I. And I read something to the effect of what you just said. I read 40%, and then the other 60% will be their own currencies. Everything I've read says the dollars out of it.
[00:12:48] Speaker D: We are.
[00:12:48] Speaker A: We are done, you know, so this is Bretton Woods. I mean, this is. This is the end of our reign, you know, and the, you know, Saudi Arabia taking off. You know, we're off the 50 year compact. I mean, it's. It's all coming at once. And, I mean, I wear a tinfoil hat. I mean, a lot of my life is, you know, I'm 20 years into thinking we're going the wrong direction. So, I mean, I'm really thinking that when everything hits, it's, you know, let me. Let me put it this way. Anthony came into the practice six years ago. He came in so one day I could go out. You know, it's a fourth generation family practice. And I. He came in thinking, well, you've been nervous my whole life. You know, there's always something to worry about. You worry too much. Well, once he started. You know, when he was in the office long enough, he started researching. He realized, yeah, there's a lot on the table. My point to him was, you're absolutely correct. There's always something to worry about. Never this many. I mean, I think there's ten things to worry about at once, and they're all hitting us. You know, if you've ever heard the show where we talked about the ten pillars, we talk about ten things to worry about. We got it from a client named Roger. He said, give me ten things to watch. So we made a list. The thing that's missing from the ten things blacks want events. I mean, we're missing things that. That nobody's watching. And it's. I mean, this is crazy. This, this doesn't end well. My problem is I think we're at the beginning of the end right now and it's going to hit us fast. I mean, you know, we talk on the show about things, you know, with current events, you know, haitians and venezuelan gangs and, I mean, all the stuff we talk about, something is going to tip. And that will be the caveat to everything else tipping. And some of it's big. I mean, I think we are on the doorstep of World War three. I think we're on the doorstep of civil unrest. You said November 6 to watch. I mean, I think the bigger threat is, is before installation around the middle of January, I'd be where you're going to be. I'd be near your family. I mean, this is, and it's all so interwoven at this point.
[00:14:48] Speaker D: Yeah, there. And I think you brought up a really good point. And I've been doing this, like I said, a really long time. And it, and it is, there are so many more things. You know, you talk about ten, we could probably rattle off a hundred and not even break a sweat. And we don't know. Is it going to be a big event, a little event? What, what's the event that, that starts these dominoes to fall? I think that's the only thing that we don't know what the problem is. Is there so many of them now? It's just, it's a matter of when versus if. And, you know, you mentioned war. I'll just say usually when there's a big change in monetary policy, especially since central banks have been in power going back to the, you know, the 14 hundreds, usually war is. What does it, you know, when you think you use, you mentioned Bretton woods. That was World War Two, right? That's when everybody had to use dollars. People don't understand. Most people probably don't even know how important of a commodity crude oil is compared to anything else. The second, Saudi Arabia decides that we don't need dollars for oil, which they just conducted their first trade in chinese renminbi a couple of weeks ago.
That is a huge deal because of the amount of oil, the dollars in oil, it dwarfs all the other commodities. And by, by going into this, this BRICs bridge system, they can actually take what, they can take russian rubles, they can take Renambi's, they can take euros. They can take a brazilian reals if they want to. Now where people don't realize that up until.
Well, I want to say it was like 90 days ago. The only thing you could do with Saudi Arabia was paying dollars. That is relatively a very new thing thing, because they said they could take something else in dollars, but they actually didn't set anything up to get something else in dollars until they joined. They became an official member of BRICS and now they joined the BRIcS bridge payment system.
[00:17:04] Speaker A: Well, and if half of the country just heard what you said, they would have no idea what you're talking about. All of this would be foreign to them.
So. And I mean, you know, I hate to change the subject right away, but I'm going to bring you into something that we talk about all the time. I'm trying to watch the clock. I made an outline. I don't know if this will surprise you, but I've got pages of things that I want to get you to cover with us. So I'm going to change the subject because I know it's near and dear to your heart too. Let's go into banks for a second, if that's okay. We've got a federal deposit insurance corporation that currently has 1.7% coverage on our money. There's no money. My understanding is next week we're going to bring back, you know, we're on the fractional reserve system. Next week we're going back to, what, 4.5% reserves. Is that, is that still the right number?
[00:17:57] Speaker D: Yes, that is still the right number.
[00:17:59] Speaker A: So think about that for a second, and if people listen to you, they already know this. If they listen to us, they've got a little bit of it.
Since March of 2020, we have suspended the requirements on the fractional reserve system. It's been zero. So if you put a dollar in the bank, they can do it. You know, mortgage backed securities, mortgages, reverse mortgages, derivatives, stuff that most people don't understand. So basically it's at zero. They've been borrowing money from the government, and I think it's the same government that's 35 trillion in debt, but I'm not sure. Same one. We always tell people, go on UsdT clock.org and kind of watch that fan spinning. So come October 1, that's next week. And by the way, today is the 26 September as we record. So next week, should that affect my money in the bank? Is there any reason people should be nervous about bank money starting next week?
[00:18:54] Speaker D: Yeah, so I think that people should have been worried about it, uh, going back to obviously, the original financial crisis, but going back to Silicon Valley bank, that should have woke up. A lot of people took to the issue and the, you know, Silicon Valley banks, a bank that 99% of the people had never even heard of, uh, because it really wasn't a very big bank. You know, it was in Silicon Valley, in Wall street, and that was, it just was a big hedge fund bank most people have never heard of. It only had $170 billion worth of assets. I mean, you think about, you know, JP Morgan, Scott trillions, right? And the FDIC wouldn't have even been able to cover that bank. People need to understand that after the bail, the bailouts, they rewrote the rules that the next time it's going to be the depositors that are going to be on the hook for it. Unfortunately, you know, they raised the FBI insurance to 250,000 after the financial crisis to try to make people feel good. Anybody's got more doing $50,000 in a bank, you're asking for your money to be taken from you. Unfortunately for those people out there, that maybe you have 100,000, 200,000 in the bank, and you have it every month because you like it. You like to see it month after month after month after month. When these banks go, the FDIC doesn't have any money, the government doesn't have any money, the realities are going to be, this is how it's set up. Hey, you know what? You're going to have access to x amount, whatever that number, $10,000, $20,000. But you know what? You've got 200,000. But you don't use it. You don't need it. We're going to borrow it from you. You still have it. You just can't use it. But sometime in the future, maybe later on, we'll tell you when you can have your money back. I mean, that's insanity.
Change the rules on money markets. Why? Because after Silicon Valley, everybody started moving their money to the money markets. So now the new rules on the money markets. Hey, if there's a financial crisis again, at any time, the money markets, they can impose a fee for you to get your money out. They can say, no, you can't get your money out. And now, number three, hey, it broke the buck like it did during the financial crisis. Let's just say you put 50,000 or $100,000 in your money. America. Oh, we broke the. But today you can't get your money out. No. By the way, that hundred thousand is now only worth 90. Sorry. And you still can't have it. These are the rules that are placed that most people don't even know it.
[00:21:39] Speaker A: They, they know it if they get within 500ft of me. I was managing a large account in Sun City in 2014 when they basically came out with the rules with gates and fees. And I know they're morphed now and I. And this account I managed, when I took it over, it was $28 million other people's money, not an individual account. So here I am, managing $30 million, and it has to be safe. I mean, we couldn't do stocks and bonds, so we were primarily money market money. Not exciting, but it was safe. And it made a little bit of interest. Not much, of course. No. This is insane. You know the word bail in? We've been shouting that word for so long, we've been pointing out Dodd Frank regulations to people. You need to understand it. The problem with all this stuff, it's not exciting, it's not fun. It's easier to put my head in the sand. I'm sure you're familiar with the term normalcy bias. It's a lot easier to be unaware, whether willfully or not. The problem is, we're at the end of the line on so many things and we're going to get a nasty surprise.
[00:22:40] Speaker C: And you brought up SVB a couple of times. Most of that money, I would say 90 plus percent of that, wasn't even supposed to be covered from the FDIC, which means that the government came in and bailed them out after promising no more bailouts. So it shouldn't have been covered. And you're right, they don't have that amount of money to cover it. We look at their quarterly reports every time they release it, and it was. I watched it. I was waiting for funds to be pulled for these big bank failures, but all of a sudden, I'm watching them grow. Like, how are they growing their reserves if they're bailing out these massive banks? Where is that money coming from? It's coming from the money. Trillion in debt.
[00:23:21] Speaker A: Well, there's no money. It's just piling debt on debt. We're in a debt driven system, you know, we have. We have a client. Art, if you're listening, shout out to you. Art has been through three bank failures. I've been through one. So Joe, my next door neighbor right now, is next care. Urgent care. It used to be Desert Hills Bank. I was there on the Friday afternoon when the SUV showed up. I actually got to see a FDIC takeover. It was wild. As a show of good faith to my neighbor. I had five grand in an account there and I was like, well, where's my money? I'm on the. I'm texting Maria. Right. What's going on? But anyway, so our client, Art, who's been through a three, he was through Washington mutual Pacific security out of California and independent bank. He is very aware. He's watching things closely. Most people are not. So we have some breaking news. It's. This is just in from Anthony Corrello, one of the Rochford associates people. I had said 1.7% coverage on your money. Apparently the Q three report is out and it's gone down.
[00:24:24] Speaker C: They now did 1.17 or whatever.
[00:24:27] Speaker A: I said, who gives it?
[00:24:27] Speaker C: Now it's 1.21. See, they're getting better as we speak. The FBIC is just getting better with their reserves, so there's nothing to worry about. Now they're at 1.21%.
[00:24:38] Speaker A: So. But it went down. I said it wrong. It was 1.6. If it's under 2%. You know what? If it's under 90% and I'm caught blindsided because I didn't know what a bailing was. I've never looked at Yemen or Greece or maybe in Venezuela or Brazil or Argentina or Detroit, Michigan. If I have no clue what's going on and I can't have 90% of my money, I'm going to panic.
[00:24:58] Speaker C: No, Yellen set a president, or president, they're going to bail you out regardless. You don't need FDIC insurance because the government is rich and they'll print more money. Don't worry about inflation. It's transitory.
[00:25:09] Speaker A: And Joe, you're taking a big chance by being on another money show because the odds of you being picked up in a van with blacked out windows later today, or bad, because once we start talking about Jared Bernstein, Janet Ellen, we start talking about the amazing j's. It gets, it gets really. I mean, we, we have started this show by slamming the IR's, the public, you know, I mean, and it's so funny because when I, when I can make my way to your website and I see the stuff you put out, we're like twins. We are brothers from other mothers, you know, and I'm going to switch gears. I'm a little more fun. But you, you definitely are going to be kidnapped or abducted later today. But let's go for a second to the people that don't really have to worry as much about a bail in. Let's talk for a second about Nancy Pelosi and the Pelosi family. So my understanding, I mean, you know, we're a financial show, so let's tie this into some finances. Visa. Tell us a little bit, Joe, about what's going on.
[00:26:02] Speaker D: I got to tell you right now, where's the Paul Pelosi ETF? Because that's where I want to be. Where's the Paul Pelosi ETF? He's done it again. Apparently, hammer, a hammer to the head did not affect his ability to see the future. So two weeks before Visa gets hit with some anti DOJ, antitrust, Pelosi just decided, you know what? I made enough money, dumped his visa stock, and once again, I'll just say this. That's the guy. If you're going to follow somebody, I think that's the guy to follow. I don't know that he's ever made a bad tree.
[00:26:41] Speaker A: No, he's, he's pretty good at this. We've tried to get him on the show a bunch of times, but so far to no avail. You know, Anthony for a while had money in the ETF. The, what was it, Anthony? The Jim Cramer.
[00:26:52] Speaker C: There was a short of anything Jim Cramer suggested, and it got carried just like the regular s and P 500 based on, you know, those select seven companies out there that are going up, but otherwise, they were making a fortune. And there is a Nancy Pelosi ETF out there, and it's up 50% since it came out in 2023.
Is your, your Paul Pelosi trading desk.
[00:27:17] Speaker A: Let's do this. We got to take a break. So this is fun. We're going to come back and do some more of it. Thank you so much for being with us at always. We're another money show. You can reach out to us team at another money show.com or you can call us at 623-52-3044 if you want to get ahold of Joe directly. And I recommend you do that kind of quickly. He's at allamericangold.com or 1809 510592. We'll be right back.
[00:27:49] Speaker B: This is another money show, except this one's different. This one's actually fun.
You're listening to another money show? No, that's the name of the show. Another money show. And now another money making round with Junior and Anthony.
[00:28:11] Speaker A: Welcome back to another money show. Thank you so much for taking time out of your weekend to join us. Don't forget, if we gave you too much on Saturday, you can hear this re aired tomorrow at 01:00 right here on 960 the Patriot. And you can find us on any of your favorite podcast platforms on our websites also. But thanks for being here so to finish up the whole Nancy Pelosi thing. You know, Nancy has blocked regulation to keep our elected officials the powers to be. There's been legislation, I think even, I think she's even submitted some of it over the years to try to look like she's above board and that she, she shoots it down. The problem with this country, I think it's pretty evident and clear. The rich are getting richer, the poor hover, and the middle class are shrinking. It's just so in your face. We, we've got our bundy buddy, Zelensky. He's in town. Zelensky's in town. The window on his gravy train is closing. If Harris doesn't get into office later this year, Zelensky is going to be. We're going to need to go fund me. We need to pass the hat for that poor young man. So he's in Washington at least yesterday when I looked, asking for more money, Biden saying, yes, they're going to say it's for, you know, weapons because we're not close enough yet to world War three. So, you know, Russia's saying they're going to nuke us, which I don't think they will. I think they're just going to shut down our power grid.
[00:29:32] Speaker C: Their Social Security is broken. We need to fund it.
[00:29:35] Speaker D: Yes.
[00:29:35] Speaker A: We're funding their pension. Well, our Medicare, Medicaid, Social Security is completely defunct and about to change in a big way. Let's make sure the Ukrainians get theirs. Now, this visit, and I just love it, he comes here to ask for money. You could do it via Zoom. I mean, you could actually stay there. And so he's on our military aircraft going to Pennsylvania. He's on the taxpayer dime. This part is not so funny to me as much as all this is kind of funny to me. This person is in, I don't know, it was Pennsylvania or something asking for money, but he's also stumping for Harris. We are literally on the doorstep to world War three. And this person's over here not only asking for money, but he's doing political stuff. And Joe, I mean, I know you know this, but people listen to us know this. Who the hell is running the country? You know?
[00:30:20] Speaker D: That's a great question, right? It's never been Joe Biden. I think we all know that. And it is. He was in Pennsylvania, where there's a munitions plant that makes ammo that we, we send to Ukraine. So he stops by. They're not on accident. That it was Pennsylvania, one of the battleground states, like you said, mister, people, I don't think people realize a lot of the money. Yeah, we give them all the weapons and all that stuff. We pay for their entire government. Let's face it. I think everyone, you know, knows why this is, this is just part of the, the mo, of politics in this country anymore is, hey, we, you know what? It's a, it's going to be a close election. Who knows what's going, going to happen? Let's see if we can pull on enough heartstrings and maybe there's enough people that sympathize with Ukraine and Pennsylvania that Harris can win by three votes.
[00:31:09] Speaker A: That's insane to me. Absolutely insane.
[00:31:11] Speaker C: I voted for three times, so.
[00:31:13] Speaker D: Well, there you go.
[00:31:15] Speaker C: I'm here to make change.
[00:31:17] Speaker A: I'm from Chicago. You're an amateur.
[00:31:19] Speaker D: A lot of Haitians are voting right now after they have their dinner of dogs and cats. Did they go cast their vote?
[00:31:25] Speaker A: And speaking of which, I mean, you notice how that died down. But, but if you're like I am, and you search through things, that, that is not over. We're sending a bunch of money to different cities. Aurora, Colorado. I'm looking at you. Springfield, Ohio. We're sending troops. We're sending troops to Israel in that area. We're spread really thin. And, you know, when, when you say that they have no money over there, I don't know, maybe 35 trillion dead, it almost seems like we're getting a little slim over here, too. But what do I know? You know, record defaults on auto loans and subprime auto loans and credit card defaults and all kinds of problems in this country. You know, if we do go south, if the dollar goes south, if it gets really bad and we have social credit scores, I'm gonna give you old episodes of Joe's show and our show and let you know that you had two and a half years with us. And, I mean, what, 20 years with Joe, you, you've had ample warning. And by the way, people are like, well, you know, you, you're, you know, you're a financial advisor, you know. Well, I'm not a good one, apparently, because I'm really, really nervous right now. I don't think you should have stocks, bonds, banks. I think the major food groups are in trouble right now. You know what I think you should have? I think you should pay down debt. I think you should have hard assets. When I talk about hard assets, if you're so inclined, I think you should have guns and ammo. I think you should have food and water. I think you should have alcohol and tobacco. Even if you're non drinker and non smoker. I think you should call Joe. I think you should hedge every bet there is right now, because the stuff with Ukraine, the stuff with the Middle east, everything is out of control. The bottom line of all of it is money. So while this country has no money, we're still the shining. We're still the world's police.
[00:33:09] Speaker C: We're schemes work as long as people keep buying in. And Joe mentioned it earlier, if they stop buying in, especially, you know, starting with oil in Saudi Arabia, this is where that tipping point is.
[00:33:22] Speaker A: Yes. And whether it tips and then it takes two months or two years or 20 years, I don't know. I don't have a crystal ball. I just know things are amiss. And you better take care of your house. So let's. And you know what, as I'm on the hard assets thing, let's talk for a second about your wheelhouse. I mean, this is your time to shine. Part of the gold and silver pun. So I remember hearing, and I haven't heard it from you lately because it's probably a little bit more of a daunting task. But you used to say you should have 1oz. I believe you're referring to gold. Somebody like me who's impoverished, you better make it silver. So. But I remember you saying 1oz of gold for every year you've been alive. Is that still a goal? I mean, you're hit what, 2600 ounce now?
[00:34:03] Speaker D: Yeah, right. Yeah, almost 2700. Right now we're like 27, 26, 70, something like that in the, the idea really is pretty simple because, you know, you look at, I almost look at it like Social Security, you know, obviously the trust fund, there, there isn't one. But it doesn't matter. What you get from Social Security doesn't buy anything. And I think it's going to buy even less and less and less as time goes on. And, and by the way, get ready. Before 2030, we will have increase in the social, in the FICA tax and probably a cut and benefit, probably a combination of both. But what I liken it to is being able to say, hey, if you got an ounce of gold for every year you've been alive, you can live, right? You can live off of that. And it's funny, when I put 20 years ago, you got $300 right now, today, if you, if you bring me an ounce of gold today, right. Hey, it's 26, $2700. And that kind of tells you what inflation's really done. What could it cost of $300 in 2003? Probably cost $2,600, $2,700 today.
And really, it allows you to stay whole. It allows you to have a lot more buying power. And I tell people, you know, I've got so many people that we've been around a long, long time. Since 1996, we've got a lot of people. That's their retirement. This is what they do. They sell an ounce of gold a month. You know, you got to think about an ounce of gold for every year you've been alive. If you need, you know, guy, if you need $2,700 a month, well, you better have a lot of gold to accomplish that because it's one of those things where, where when we originally were talking about it, the thought was, hey, maybe you sell an ounce of gold every quarter. You need, uh, 4oz of gold, uh, every year. Well, that gave you 16 years after you turned 65. That was kind of the premise for that. Um, and as a supplement to whatever the pittance you're going to get for Social Security and, and nowadays, I I still think that holds true.
[00:36:22] Speaker A: So. And let me, while we're on this, let me ask you a couple questions about the practicality, about, you know, logistically, how it works. I know right now people can have purchased precious metals anywhere over the years. They go to you. You're always looking to help them out. My experience in the limited research that we've done, you are very fair. I mean, you are very. You're trying to help people. There's my mike. I guess my question is this. Right now, everything's working like it always has. If they need to retire using their goal, they can come see you. Let's say that, you know what hits the fan and things are sketchy. My guess on precious metals, if we have civil unrest, for example, around the time of the elections, probably sit tight in your house. Probably it's better off if you had some food and water and guns and ammo. But when the dust settles, I don't think the country goes the way of Rome overnight. So the, when the dust settles, what is it? Is it barterable? I've always heard that, you know, 1012 percent of the country owns bargainable amounts of gold and silver. So is it there's going to be a pocket of wealthy because of gold? Do they plan on literally living on it? Is that our new currency?
[00:37:36] Speaker D: Here's, you know, you bring up with some really great points. So I use this analogy a lot. 10% of our customers are preppers hey, I think I need, I'm scoring and they both say like, silver fractional gold, uh, smaller pieces in case they, you know, what the powers out the name, you know, the, the biker gang or the local militia, whatever, is going to be in charge. And if I need to get something, I don't want an ounce of gold because I'll just rob me for it. I've got some silver dime silt, silver quarters, what have you, things of that nature. 10%. Hey, I'm really wealthy. I just want as much gold as I can get for the cheapest price possible, which is always, you know, the 1oz, you get coins, bars, what have you. But then the other, the funny part is the other 80% or especially over the last 25 years, the, that 10%, those barter guys, they used to be the wackos.
They're not so wacko anymore right there. A lot of our listeners are like, you know what? Hey, I want, I want the, the cheaper price. But you know what? I also need this fractional truck just in case, just in case because social unrest isn't that far fetched anymore. So the vast majority of our customers really do that. They have a good variety. If we build portfolios, we do that a lot for customers. You'll have that in there, right? You'll have some fractional stuff. You'll have some silver, some fractional gold. And then of course the majority of it will be in those bigger pieces. But, yeah.
[00:39:16] Speaker A: Okay, one more thing. Let me take you negative for a second. So it was illegal to own gold. What was it, 1933 to 1974?
I've had people ask me, you know, the government was out of control. Since the government's been the government, but now they're really out of control and now they're desperate and hungry. What are the odds of another gold seizure?
[00:39:37] Speaker D: It was, you know, if you had asked me that 20 years ago, I would have said it's almost none. Right, because gold's not the money anymore like it was in 1933. That's come back now. That is, it's a definite possibility. Especially when, you know, we talked about bricks earlier, de dollarization, having gold back. If, with the debt, if we lose confidence of the world and being able to sell our debt, gold is going to be something the government's going to use to say, well, hey, we've got these gold backed bonds now. So we, and you know, we've got allegedly 8000 metric tons of gold in, in our coffers. So, you know, they won't let us audit it, but they say it's there, but yeah, it's a possibility. Now, you put it this way, I would have said less than 5% 20 years ago.
I'd say there's at least a 2020 5% chance that that actually could happen. Because if we lose confidence and being able to sell our debt, they will go to gold to say, okay, well, these bonds were going to sell, it's backed by gold, which, you know, back in the old days, why we closed the gold window in 71. The foreigners used to be able to, when they bought our debt, when. When the debt came due, when the treasury note came due, they could either get dollars from us for the treasury notes or golden from us from the treasury notes, because we used to have 20,000 metric tons of gold after World War two. So many countries wanted, well, just give me the gold that we stopped that practice in 1971.
[00:41:14] Speaker C: So with the BRICS nations trying to build this currency that's supposed to be backed by gold, how are those countries handling gold now?
[00:41:22] Speaker A: Are they.
[00:41:23] Speaker D: Boy, it's on fire. This is part of the reason with this run up in gold. So many countries that most of them, and when you look at who they are, are BRICs leaning countries. Either they're a part of brics already or want to be a part of brics. The last several years, the amount of central bank gold mine has shattered the records. Even going back to the sixties when we were. They were all doing it back then. But, you know, Saudi Arabia as an example, just increased their gold holdings over the last two years by over, by 50%. I mean, and they didn't want anybody to know they were doing it on the download. One of the weird things about countries buying gold, it's on their honor. They can either report it or not. They don't have to tell you.
We learn some of the countries China will tell us sometimes, sometimes they don't. India, obviously, a huge gold buyer. Russia is a huge gold buyer. Now we've had Saudi Arabia, UAE, who have joined BRIcs, they're buying gold. And we're seeing now a lot of these countries that are applying to gold for gold, BRICS membership. Malaysia comes to mind, Thailand comes to mind. They're all buying gold.
[00:42:39] Speaker A: China. I like that you brought up China. They're very forthright and above board. I trust everything they say.
[00:42:45] Speaker C: They're raising their pension age.
[00:42:47] Speaker A: Yeah. Anthony, you sent me an article this week on that. First time in. Long time. So one more thing about the gold thing. So just a thought. If the odds are greater that they're going to seize it. And I'm going to be crude for a second. I look at it very much like, no, no, you're not like the second amendment. Almost like, come and take it. You're going to have to take everything. I mean, I've heard they can commandeer your food. I, my thinking is, no, this country, we didn't mismanage ourselves. You did. So if you say turn it. And I know Greece, before Greece had their bail in, they started asking what precious metals holding you have on the tax return. And it's a scouts honor kind of thing, are we going to do that here? That's a good indication that's coming. I think the government is so dysfunctional and scared and broken and hungry and angry. I don't think they'll put on a tax return. I think they'll just make changes. I mean, I'm crazy, though. I think UN troops are going to be here when the World Health Organization and the, you know, so. But I think if you're listening to the show and you don't think for the last two and a half years that I've been crazy, say no. You know, the thing with the second amendment, Harris, is, sorry to say the word. This administration is saying that we're looking into gun buyback programs. Here's a thought for you guys. I didn't buy it from you, so you can't buy it back. So don't try to buy it back. How about, no, leave us alone. I think most people that listen to AM radio, especially, they want smaller government. They want to be left alone. They think you've broken everything you've touched. So you're not going to take my goal to keep yourself floating. You're not going to take my guns to keep yourself safe. And like Anthony brought up, unless I have f nukes, I got a problem anyway. You know, I'm going to have to be shooting down drones. Whatever. What's the next?
Sorry. I get a little off track there, so. All right. And my thinking is, you're right, Joe. I mean, I get a little bit nervous that they could try to seize things back. My personal feeling is everybody should say no. You know, I think one day we have to say no to paying taxes. They've mismanaged so bad.
[00:44:53] Speaker D: So, you know, we saw with COVID right, how many people have. They didn't say no, right? They went and got shot up. They got back, they put the mask on and 6ft. Apparently, uh, Covid knew, uh, as soon as you sat down at a restaurant, you're at a restaurant. So it's okay to have your mask off, but if you got to go pee, you got to put it back on. Because the COVID virus knows when you're doing that same thing, like with an airplane, you got to wear your mask on an airplane, but unless you're eating or drinking, then you don't have to have it on. I didn't know the virus apparently had. Had intelligence that it. Oh, well, you're eating right now, so I guess I'm not going to affect you. But the realities are this, especially with digital stuff. You talked about guns. Listen, you got a register to buy a gun. When you buy those guns, there's a record. The government's gonna know it with a digital currency. You know what? You know, they hate cash. They want to get rid of cash, right? They could simply just say, listen, hey, I know you've got an AR 15 or you've got, you know, whatever, an Uzi machine gun, or I. They came 47, whatever it is. We turned your, your account off. When your wife goes to the grocery store to buy your groceries, she's not going to be able to do anything until we get that gun back or you prove to us that you don't have it anymore. That's a possibility. That's, you know, and it's funny. Same thing with, you know, gold. A write a check. You pay for this. I don't know that. My guess is they'll offer more of a bribe that you can't refuse. People will be desperate. Let's just say as an example, okay, gold, I don't. $5,000. And they say, hey, we're going to give it up. We're going to give you 20,000 credits for you to turn your gold in. I think they'll get a lot of it that way. I think that would be the way they're going to do it. People are going to be desperate. They're going to need to eat. They're going to need to be able to feed their families, and a lot of them will do it willingly.
[00:46:47] Speaker A: That makes sense. On your right. I mean, with the COVID what 66% of the country just said, we trust you, Fauci. Even though your mask is down at the baseball stadium, we know ours won't be. And I alienated my family to a certain extent. My wife was so mad at me. I'm at Walmart. I'm like, you got to be kidding me. You're telling me this is respiratory, and as long as I play like, I'm at Ikea and walk this way. I'm fine. I got the skunk eye from everybody. I mean, we, we went to a PETA jungle one night. My own family, I'm, they're like, you know, put your mask on. We're opening the door. I'm like, nah, nah, I'm not playing their game. Nope. Not going to put the mask on. Let's switch gears. I always have articles to do for people, and I want your take on a couple of these because I think they're in your area of expertise. So here's an article from zero hedge from yesterday, the 25 September sounds like corruption. FCC fast tracks Soros shortcut purchase of 200 plus radio stations. Do you want me to read any of this, Joe? Or just like, no, I can tell.
[00:47:49] Speaker D: You all about it. And this has to do as just so people know, I own a radio station in Colorado, so I actually know a lot about radio station rules. There's, there's a procedure everybody has to follow. And in this case, with the Soroka, since they're a foreign entity, there's, there's simple rules. They bend in the rules forever. And what's happened is the SEC and, you know, the government, Casaurus is the lefty. They want to essentially speak fast, track that and ignore the rules and allow him to buy them faster and not go through the whole process of announcing. A, you got to announce what stations you're buying. B, you've got allow for people to, to comment as to whether you should be allowed to even own this many radio stations and give public comment. They want to waive all that stuff and just say, here you go, here's your 200 stations.
[00:48:52] Speaker C: Well, part of that too is I thought they can't own because of their percentage of foreign ownership.
[00:48:58] Speaker D: Yeah. So there you have to go through that process to do it. And the other thing, they used to have rules in place with media. You only could own x amount of the population. So I'll use tv because it's an easier example if you own television stations in New York, LA, and in Miami. Okay. In Chicago, well, okay, that's too much. That's all you can own because there's too much of the population. They got rid of those rules in the early two thousands. That's why you see companies like I heart and in Salem that all of a sudden they bought hundreds of radio stations or great television. Who owns 140 local television stations that used to be illegal. You weren't allowed to do it. The government now is essentially like everything else, the bigger you are, the better.
Get rid of competition.
[00:49:56] Speaker A: It's crazy.
[00:49:57] Speaker C: And I mean, obviously, monopolies.
[00:49:59] Speaker A: And the reason that people are, you know, talking about this a little bit is the timing with the election, the timing of lowering 50 basis points. Everything seems to be right on cue. Obviously, you know, we're worried about Ee and Mpox and Covid, the new Covid and all that. It just, you know what? Gavin Newsom in California is going to make it illegal to use anything with AI and deepfakes. And, you know, you can't have a fake Harris ad.
We are losing our rights. I mean, our First Amendment is going away so fast. The First 1st Amendment said that we, we have freedom of speech, right, religion. We can assemble as long as it's peaceably. Covid threw that out the window. Well, the First Amendment does not say unless there's a virus. I mean, there's this when if you look at what's going on, they. Half the country is going to be shut down. And I think they're going to try to literally do in the next two months, I mean, they're going to shut down a port. I mean, there's all these things that I'm watching like, holy cow, look at Bill Gates.
[00:50:57] Speaker D: He wants to ban people from the Internet if you disagree with him on vaccines. Right. I mean, apparently that's now in there, too, right? Right. In the constitution, it does say you got free speech unless Bill Gates says so. I'm sure that's in there as well.
[00:51:14] Speaker A: Well, yeah, and, and again, part of my frustration, part of why we come on every week, wake up people. Half the country doesn't even know this is going on. You know, I was looking at the, the donor role to the different parties this morning, and I was looking at the leader in donations to the Democratic Party by far. Google. Google. Google has such a stranglehold on our search. They know our patterns, that everything is skewed. And I really believe that this is all meant to bring us down. It's like you said. I mean, a war would be a good diversion. And then I think the stock market fails, the housing market fails. I think they usher in a digital currency. The rest of the world doesn't care what we do. I mean, we can keep shoveling money. We can do whatever we want. The rest of the world is going to move on without us at this point. So I don't know how all this ends, but it's not good. And week by week, you know? Yeah. I mean, for us, I mean, we're not. We're not radio people. We're financial guys, we look at statements. We. This is not our natural calling. We do not run out of information. We have never run out of stuff to talk about. Every week, brand new stuff.
So I know time's getting short. There's something that I. I've learned from you that I've never had a good handle on. And I know I bobbled it on one of our episodes. Can you give us a quick, easy explanation on bond auction tales?
[00:52:41] Speaker D: Yes. Okay. Really simple. When you. When every, every day we sell bonds. Yesterday, as an example, we sold 70,000,000,005 year notes. Okay? So what they do is they price the note. You know, you look, you follow the tenure. Let's use a ten year old because that's easier. It's on the tv all the time. The ten year notes, 3.8%. Let's just say today we had to sell 70 billion in ten year notes. What the government wants is for it to sell all of that 70 billion at 3.8. Even better. If someone would bid less, that would be even great. Hey, someone watch the bid. Three, seven. Great. Everything's blind. So all these places submit their bids, and the government takes the best ones. So in other words, the government's going to say, whoever wants to buy at the least amount of interest possible, we're going to fill it. What happens is there's not enough buyers at 3.8.
Then it's 3.13.23. You know, you know, you know. Three. 3.813.823. .83,848,586 until they sell all of the bonds. That's called the tail. The longer the tail, the worse the auction was. With another words. The. The. The people buying aren't willing to loan the money to the government at the rate the government wanted. And it gets worse. And we used to never have tails at auction. They used to be very, very rare. Now we have tails at almost every auction. We did actually have an auction sold on the screws the other day, that which we hadn't seen in a long time. Which means it actually sold for what the government wanted it to sell for. But those are few and far between. All your listeners need to know, the bigger the tail, the worse it is.
[00:54:34] Speaker C: Well, there's less of a demand for the dollar now. It's going away. But anyways, I want to say thank you again for being on our show. That is it for today. If you like what you heard, you have questions about any of the topics. If you want to sit down with us to review your personal situation. You can find us at team another money show.com on this on the web another money show calm check out Joe Jake went is at 09:00 a.m. on 10:10 a.m. yep.
[00:55:03] Speaker D: Friday nine to ten at 10:10 a.m.
beautiful.
[00:55:06] Speaker C: Well, I think we'll have a lot of crossover with listeners. I think our listeners will really enjoy your show. So that's all we've got. We'll see you again next Saturday at noon right here on 960 the Patriots.
[00:55:18] Speaker D: God bless everybody. Thank you guys.
[00:55:21] Speaker B: Thanks for listening to another money show. You deserve to work with a product private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com. dot Investment Advisory services offer through Brookstone Capital Management, LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. Investments involve risk and, unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.
