[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. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correo and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts, Anthony Carrel and JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family office right here in the greater Phoenix area to bring you information you may not find on those other financial shows. We're aware the last thing you need is another money show, but we appreciate you being here and we have a very special guest this week, the return of Joe Jaquen. Thanks for being with us.
[00:01:08] Speaker D: Joe J.
[00:01:09] Speaker E: Part two.
[00:01:10] Speaker D: Yeah, part two, that's right. Yeah. Hopefully there'll be a, a three and a four. But always good catching back up with you guys. You know, we spent a few minutes before the show kind of catching up a little bit and excited to have the opportunity to talk with you guys again.
[00:01:27] Speaker E: Well, and we appreciate you coming back. We kind of figured the first time, you know, you got to feel out our show and see if you'd return. So when I emailed and you said yes, I was very happy. So you know, if, if you're not familiar with Joe, let me start with this. Joe is on our sister station 10, 10am Monday through Friday, nine until 10. And I admitted that because of Joe, I actually work less. I try not to work before 10 in the morning. So good job, Joe. Making me a lazy little thing.
[00:01:56] Speaker D: Yeah, you know what, I don't, I don't think that's the goal of the show to make people work less, but I, I appreciate it nonetheless. So it's one of those things I like you junior. Got a lot of passion for it and, and been doing, doing it for over 20 years and I think, gosh, we've been on 1010 now for, boy, I, I would say the 18 years of it on 1010. So it's been quite a while.
[00:02:29] Speaker C: Or not a, not a weekly show, but I mean you're Monday through Friday, right?
[00:02:33] Speaker D: Yeah, Monday through Friday.
Yeah. Thanks for clarifying. Monday through Friday from 9 to 10 on 10:10am here in Phoenix.
[00:02:44] Speaker E: So, and I'm, I'm gonna come clean with something. When I first started listening to you, you were totally different. So I mean I, I listened to all the radio can I' in a very young man's body. I love talk radio. I love to hear. I mean, I like music like everybody else. I want my brain stimulated. I'm a sponge. When I first found you, I was like, what the heck is this? As I started listening a little more regularly, I didn't care for you. I was like, this guy's fully. No, this is too. No, this. No, I'm arguing with you as you're on the air. And I started after your show, I started trying to prove some, what you're saying was wrong. Not one single thing was I able to disprove that you were saying. As I got used to, I was like, this is amazing. Like every single person in this country, not just in Phoenix, in the country, needs to hear you. It's, I mean, you bring to light what's really going on. And it's current events, which our show, we only get an hour a week, but we tell people our show, it's not a 60 minute long infomercial. You know, we're current events and how they're going to affect your future and your finances. That's what you do every day. And I know you're in business, so are we. So I understand that you would like people to come in and meet you, I get that. But it's just, I mean your show is incredible with what you bring to people that they're not getting elsewhere. And I'm not going to lie to you here and there. I don't like, you know, try to take anything copyrighted. I'm definitely some of the stuff that I hear on your show, we bring it onto our show and say you need to know about this. You know, just this morning, by the way, we're recording a double episode today. Today is Thursday the 27th. But you're not going to hear this show until March 8th. I believe it is. But this morning you were talking about tariffs and I, and I brought that up in our first hour. So I need to, I have a list of stuff to ask you about, but why don't we jump right into that? You know, I understand that on the 4th of March and then the 2nd of April, we're going to start the tariffs with Canada and Mexico and then the eu.
How's that going to affect us? What's that going to do to inflation?
[00:04:48] Speaker D: Yeah. And it's an interesting time and it's something where when you talk about the tariffs that are going to start on the 4th, so on Tuesday, which by the time you hear the show, it'll have already have started, this is going to be Canada, Mexico and an additional 10% on China. So right now China's at 10%. That, that started last month. Canada and Mexico got a month reprieve that that is 25% of on Canada, Mexico and then 20% on China. And the funny thing is we're not getting a lot of exemptions. So far, the only one we've seen is 10% tariff on Canadian energy. That is Canadian oil will only be hit at a 10%, but it looks like 25% pretty much across the board is what we know as of today, as of Thursday. It, it's something where obviously it's going to increase the cost of, of so many different things. The automotive industry already came out almost immediately and said, okay, this is going to add 8 to 10,000, 12,000 plus if it's an electric to the cost of all the, the new cars out there. And obviously it's going to add cost. The, the, the realities are, I think the companies affected by this are going to do their best to pass along as little as possible to the consumer, but it's inevitable it's going to cost more. And I, obviously at a time now where everyone's kind of like a little uncertain as the layoffs and the cutting from dc, what that effect is going to have. And then of course, you know, Trump needs to get his budget passed to be able to start spending money to try to help offset this. So it's, it's definitely the, the timing of it is, is what it is, but it's going to have a significant impact on the cost of a lot of different things.
[00:06:52] Speaker C: But isn't the end goal to get the manufacturing here? So shouldn't that help jobs? You know, there have been any rumblings about major manufacturing trying to move back or is that still. They're really waiting to see actually how these tariffs play playoff before they, they worry about that.
[00:07:10] Speaker D: That's just such a great question. And that's the, that's the, the issue because the, the manufacturers, these companies, they're hoping it's gonna, he's gonna reduce them, they're gonna go away, they'll find a deal. They're not gonna pack up right away. It's gonna have to be a message will have to be sent that, hey, this is happening and it's going to stay happening. And then that's going to, you know, six months to a year. And it's, let's face it, it's not simple. Hey, I'm just going to close this plant down and reopen this plant here in the United States and, and, and I can have it reopened in 48 hours. That's not how it works. You got supply chains, you've got, obviously you got equipment, you got all of this stuff that needs to change. Because right now the supply chain, the stuff flowing to Mexico or flowing to Canada or to China to be built there, you got to get all of that solved. So it's going to be, there's a lag effect right between that, that happening and that's going to be the hard part, I think for a lot of people is maybe didn't anticipate, oh, wait a minute, we may have a rough period of time, it may be a year where things are rough before you start seeing these jobs actually come back.
[00:08:35] Speaker C: Well, I feel like if Trump doesn't get the support, because even if it is, you know, if it's just for four years, if Trump stays strong to the tariffs and why he's pushing what he is, what happens if we get somebody else in four years and they're just like, oh, we're done with it. Then of course none of these companies are going to put in that time the effort to move production. They're just going to deal with the cost for four years. You know, and that's. Even if we do it for those four years, like you said, six months, a year, we have to make sure that these are actually going to stay. So there's some long term implications. But I don't know if the Congress has the support to push past and look past these four years and say, no, no, we really want manufacturing here.
[00:09:18] Speaker E: This is do or die, Anthony. I mean, this is either successful in the four years or it's not. And four years is a long, long time. And it's also going to go fast. I mean, I think if the end can justify the means, we're going to be very lucky. During COVID I mean, you remember I was so passionate that we're all masking up with masks made in China. We're getting these tests that were made in China for Covid, you know, our drugs come primarily from China. That's incredibly dumb. We need to bring back manufacturing. We need to figure this out and if this conveys, if this works its way to abolishing the irs and making an external revenue service, we could have the next great enlightening of a country. I mean this, if it works, is going to be the greatest story ever told on any nation. If it doesn't work, we go back to, I mean you brought up, when we recorded the first hour today, you brought up the fact that things would look totally different had Harris made it into office versus what we're seeing so far.
[00:10:19] Speaker C: Well, it wouldn't have looked different. It had been the same. It would have just been carrying on, which was nothing.
[00:10:26] Speaker E: The debt would tip everything. I think the stock market would have crashed. I think there would have been no reason to go on as a country if we didn't get change. So I personally, I'm ecstatic.
So any other thoughts on that? Joe, on the terrorist?
[00:10:42] Speaker D: You've nailed it. Listen, this is going to be something where you've got to be willing to pay a price for this to happen. I think this is the way the country needs to go. You talked about the ending of, of income tax as possible. Well, part of the math in all of that is collecting over $800 billion in tariffs. So that, that's, that's how you gotta get there and, and send that message to these corporations. Because I think the ones that can do it, easy, they'll move first. But it's the ones that it's, it's complicated, it takes long time. You know, look at the auto industry as a prime example. It's not easy for them to move the supply chain. It takes, you know, a couple, two, three years to get things in place. Sometimes even longer than that. So they have to really have that sense that this isn't going to change for, for this to all come together. I think if we can get there, the other side will be incredible. I, I just don't know if the American public has the stomach to, to go through what they're going to. It's not, it's not all roses, right? There's going to be, people are going to lose jobs, there's going to be inflation, things are going to get tough for a certain percentage of the population. But if we can get through that.
[00:12:13] Speaker C: That'S what we have all those now. And we don't have the tariffs yet. We have all those things now. I mean all these Fortune 500 companies, sky high record all time profits, yet they're still laying everybody off.
[00:12:29] Speaker E: That's how they have such profits, stock buybacks.
[00:12:31] Speaker C: All kinds of things happen in what is theoretically the best times we've ever. You know, they keep saying that because they judge based on the stock market, which we all know is not a real, it's not a, a good measure of what the country's actually doing.
[00:12:47] Speaker E: Yeah, no, I mean, and what's so funny, Joe? Part of the pain. I mean, we're financial guys. We sit down with people, one person, one couple, one family at a time. And, and as a second opinion, we try to better their situation. We know that the manipulation in the 30 companies that make up the Dow Jones Industrial Average, you know, the under 10 companies that have carried the S&P 500 over the years, it's a house of cards. So everybody on the left is going to jump for joy when this thing starts making Trump look bad. That's not good for the health of the economy. It's not good for Main street, but it's going to happen. We know that a healthy market needs to cycle here and there. And other than the very long term.
[00:13:29] Speaker C: Strategy or plan in a long time.
[00:13:31] Speaker E: No. And Anthony, you've been in the office seven years and you got 2022. There was a little bit of rough patch. The deep V that was March of 2020 because of the biggest black swan event in the history of our nation and the world. April 1, odd day to happen. It bounced right back. I think we are going to get another 2000 or 2008 and that's going to be combined with higher inflation. You know, people talk now a little bit of rumblings about stagflation the last couple years. Yeah, definitely have stagflation, but we are going to have some pain. Can we get through it? Can we get through it without, you know, I mean, it's so, we're so divided and so polarized that no matter what we do here, it's going to be fragile. And I have to hope that the end is going to justify the means and we're going to get through this.
[00:14:21] Speaker D: Yeah. So that's the key. Right, Right. We want the ends to justify the means. We don't know, we, we don't know if it will. And I'll just say that this midterm election will be very important. You know, the, the, the number of votes in the House here. Because I think that there could be a rough patch there if they see this way through. I, I think there, there's, there's really is hope later, but we, we'll have to see. I, you know, the, this is something where no one's tried something like this at a, a long time. And you know, it is exciting when you see, hey, I Finally feel like, hey, they're doing something. I, it may not be the right thing, but it's something. And, and some of these ideas are going to end up looking really, really good. Some of them probably going to end up looking really, really bad. But if, if that happens, I expect Trump will pivot on those and, and try to make it better. But we're just gonna have to see how this plays out. Like I said, I think people are going to be unprepared that. Oh, oh, I didn't know there was a rough spot to go along with this. That, that's the thing that I think right now some people are starting to start to feel it a little bit. We'll see what happens.
[00:15:38] Speaker E: Well, we are in very unchartered territory, so I cannot wait to see how this all plays out, you know, and.
Go ahead, Anthony.
[00:15:47] Speaker C: Oh, I was just going to kind of see what your thoughts were. We're on Doge because we're talking about how we're going to increase these taxes. But the big thing, I mean, when we talk about individuals and handling their finances, cutting debt is key. You know, cutting wasteful spending is significantly easier than increasing income. So what are your, what are your thoughts with what's going on there? Because we've really kind of enjoyed watching that so far.
[00:16:11] Speaker D: Yeah. You know what? I think you hit the nail on that. It's fun to watch and it, it's, it's good to, hey, let, let's, let's pull back the curtain on these things. I, I think that the, the, the problem is, is a lot of this stuff, like usaid, all, all that stuff, it's, it's a really insignificant amount. When we come to the big cutting has to be, you know, like Medicaid is on the table right now. You know, they, they threw that stuff out with Social Security and they knew, hey, we know that these, all these dead people aren't getting checks. But we just want to highlight, hey, look at, look at how bad the, the government systems are and all that stuff. Of course the government has something in place to prevent all that. They, they don't pay anybody over 115.
And they, but it's not as, let me just say this. I love it. And they're, they're finding stuff, they're, they're, they're calling, you know, stuff out that needs to be called out and, and spending to be reduced. It's not as great as they acted out to be. Most of the savings is going to come from the job cuts that, that's where most of Doge's savings are going to be because most people don't realize after you, you take Social Security, Medicare, Medicaid, defense and the interest on the debt, there's only about $1.5 trillion in government spending outside, you know, the government spends $7 trillion.
So when you talk about, hey, we want to save a trillion dollars, well, that's not going to happen. Right. It just, there's not enough there to save it. That's why the job cuts are going to be very instrumental in getting to those numbers because they need Doge to save about a trillion dollars. Then they want 800 plus billion from the tariffs, and then, hey, maybe we can talk about ending the income tax.
[00:18:16] Speaker C: Interesting. Yeah, I mean, because the, the, obviously, I'm sure there are some wasteful jobs in there, but that's not, that's not where you want to be cutting. You don't want to be just unloading more people into the, you know, the job fields.
[00:18:31] Speaker D: Well, you know, and again, this is something. Government got too big. Everybody knows it's too big. The, the, the states need to get the power back and the federal government's got to shrink itself. And, and it's something where somehow, you know, over the last 50 years, it seems like slowly but surely the government, if people now seem to want to run to the government anytime there's trouble, and that's really been a problem. You know, my, my grandparents and even my parents, they were a lot more leery of the government and, and the government doing things and didn't want the government involved, didn't want the government handouts, and, and today it's almost like people expect the government to give them stuff and, and it doesn't work. Listen, Obamacare is the best example I can give of recent times. Insurance used to be so affordable and so inexpensive, and now it's just, it's outrageous.
You're paying triple, quadruple what you used to pay and you're getting worse coverage. And that's what happens when the government gets involved. It just is.
[00:19:43] Speaker E: No, I mean, and what you just said, like, I mean, a lot of us have personal stories about the Affordable Care act and keeping your doctor and it's going to cost you less. It was all a bunch of malarkey, to use crazy Uncle Joe's term. This part of what I'm super excited about. Uncover what we need and what we don't need. Uncover everything and then let's figure out how to get back to smaller government. You know, they're looking at the post office now, they're looking at everything. I mean, you know the stuff with schumer being worth 75 million. I mean some of the stuff on a public servants pay. Let's get to the bottom all this and let's see how much of this is corrupt and then maybe people jump on board and it'll get better. But I'm very much in favor as long as we're uprooting, as long as we're digging into this. I do want to see them release the Diddy party list and the Epstein. I want them to show everything and how corrupt this country has been. And then we sink or swim. I think we were going away anyway. I think we're losing the world reserve currency. We were losing our moral compass. I think this country was just, you know, Rome burning. And now we sink or swim after we see what is really going on. And these people that are very angry, you know, with uncovering things. Good. You're the exact people I want pissed off. The people that are out there yelling, Stacey Abrams out there in front of the camera. I didn't do. You never do anything wrong. You had a company worth a hundred dollars and now it got a 2 million, $2 billion influx there. It's all corruption. I don't think we should have anywhere near 35. What, 36.5 trillion in debt. I don't think we should have public servants that make a living out of insider stock deals and fleecing the public. So I'm excited about all this. And you know, when you bring up Doge, what are your thoughts on the five thousand dollar refund check? Are you in favor of that?
[00:21:37] Speaker D: Yeah. And you know what's funny? I'm not. I'd rather save the money. Right. That, that would, that, that, that's the, the whole point. And, and what I, and the reason, it's really simple. Yes. Do I want five grand? Of course I want five grand. Do I want all of you to have five grand? Yes, but we know what that means. That's even higher prices, right? So, so you, you have everybody all of a sudden gets five grand. Well, the, the, you know, some people will pay off debt or pay down debt, but a lot of people are going to go out there and spend it. And that again causes more inflation. You know, it's the printing of money that makes the inflation happen. And so I would rather they, they kept it. I will say, I just want to circle back to one thing you said because I think it's so true. This is a great opportunity for transparency from the government. And I think release everything, release Epstein, release Kennedy, release Martin Luther King stuff. You release it all, show it all. Be transparent. Because if you do that, then people will be like, okay, now I get it. Now I understand. And there's going to be, again, maybe that's okay. We needed to be a lot more skeptical of what the government was actually doing than we ever had been before. Because I think a lot of Americans, no one trusts the government.
And even if they love Trump or like Trump, they still don't trust the government. And so we need to get that trust back. And there's just got to be. Transparency is going to be the key.
[00:23:15] Speaker E: Well, and when you get Cash Patel and Dan Bongino together, I think we have a shot at it. I think it won't just be lip service this time. So I'm excited about it. You know. You know, the doge, the refund, the rebate, whatever you want to call it, it's another carrot. So people settle down a little bit and they have something to look forward to. To me, it's. It's so glaring. This is stimulus. This is just like the COVID stimulus money.
[00:23:38] Speaker D: So just call the different name. It's just called a different name.
[00:23:42] Speaker E: Yes. I am also not in favor of it, but If I get $5,000 and I have no choice, I guess I'll take it. I don't know.
[00:23:49] Speaker D: We'll see.
I will say this. I agree. I will not send the check back. I won't send it back.
[00:23:56] Speaker E: We had a couple clients with high moral values that asked, you know, we didn't ask for the stimulus check, you know, and my take was they don't know how to track all this. Once you got that little debit card in the mail or you got the actual check, it's already wasted money. You might as well cash it. You can donate it to the cat shelter of your choice, but you might as well take it. We can send the check back. It'll go in the shredder, but the record keeping won't change a hair. So do, do what you see fit.
[00:24:25] Speaker D: Yeah. Do something local. If you. If you're one of those people, you're fortunate and you don't need it. Help, help in your local community. That's the best advice I could give people.
[00:24:34] Speaker C: It's a great answer.
[00:24:35] Speaker E: I like that. Especially knowing that you are a business owner and you can tell people they should come in and get your daily special.
[00:24:41] Speaker D: That's right. Right. Come in. My goal. But even when you're in that absolutely And I think local is such a key. I really think that we, we've kind of lost that, you know, and, and technology's great and cell phones are great, and now you got cars that can drive yourself around and all of this others. But we kind of lost that community feel and, and making an impact locally versus giving it to the federal government. Yeah, I'll.
The federal government, you might as well just burn it at that point. Uh, but do something local. I think it's a great thing.
[00:25:15] Speaker E: Amen. So I know we're gonna run up to the break time soon. A couple other things that I want to ask you about. I mean, again, as we record, today's the 27th. So when you hear this, this would be a week and a half earlier this morning on your show, you brought up inflation, you, you brought up the unemployment numbers. Are we starting to see the federal worker layoffs show up on the job numbers? And if so, looking at the last year when the only job hiring we did was people that were undocumented or federal workers, is the unemployment going to spike over the next couple of months in quarters?
[00:25:49] Speaker D: Yeah, we're going to watch it. So this week we saw the first, this is the first week in weekly jobless claims we've seen the effects of the government layoffs. And I was telling people, I go, just because you heard it on TV didn't mean they fired them that day. We really didn't see a big round of firing until last week. There were about 20, 000 people total last week. Got sent their marching ban. We're going to see this number grow as the weeks go.
I'm okay if it's, if it stays centered in D.C. but if we see this thing spreading, which I think we may, as the federal government pulls back some of this ridiculous spending that Doge has been uncovering. Got to remember that ridiculous spending goes somewhere, and a lot of it's going to states in cities, and they have people working or may, maybe you're coming. You may not even realize the company that you're working for is, is doing a job that, that you don't tie to the government, but was being funded by the government, that may go away. If that happens and we start seeing these layoffs grow outside of D.C. then, then, then we're going to have to look at the unemployment rate really start to rise.
[00:27:08] Speaker E: Well, waste, fraud and abuse. That can be somebody's job or spending. So bring it on with that. Why don't we get to our first break? Please reach out to us. We're
[email protected] we would love your show ideas, your comments. We would also love you to set up a time to sit down with us. Let us be a second opinion so you know we're full service financial and we're here to help. We we've given Joe's name a couple times recently. We believe in moderation. We believe in diversification. So if you're enjoying Joe, go meet him, go sit down with him. So give us a call 623-523-0444 if you're old school and we will be right back. Thank you so much for being with us.
[00:27:51] Speaker B: This is another money show except this one's different. This one will actually keep you awake.
[00:27:59] Speaker A: Remember, all of J R and Anthony's listeners receive a free financial consultation just for listening to the show. Visit anothermoneyshow.com to learn more and schedule an appointment. Thanks for listening to another Money show and subscribing wherever you listen to podcasts.
[00:28:14] Speaker E: Welcome back to another Money Show. Thank you so much for being with us and the one and only Sam Davis and Joe Jaquent today. So we appreciate you being here with all of us. Don't forget our Sunday at one show. The re air of our Saturday at noon has changed. So if you can't find us, you the re air now is before the regular air. We've, we've time traveled with ourselves. We are now at 5 until 6 in the morning on Saturday and then again our normal slot at noon. So if this was too much to handle, if this was like drinking from a fire hose, then catch us Saturday mornings at 5. And by the way, what the heck are you doing up at five in the morning on a Saturday? Need to talk to you. Set up a time to sit down with us and we'll give you better things to do like sleep in. So we've got Joe Jaquent with us. Joe, if people want to reach out to you, how do they find you?
[00:29:08] Speaker D: Yeah, real, real easy. All americangold.com that is our website, all americangold.com and you can call us at our 800 number, 800-951-0592. I've got offices. My office is in the Deer Valley Air park here in Phoenix. I also have offices in Colorado as well. But anytime. All American gold, obviously, 24 hours a day, seven days a week and then, you know, regular office hours Monday through Friday for 800 number. But you can always reach out to us via email or leave us a phone message and we'll get back to.
[00:29:48] Speaker E: You so, and that leads me into what you do for a living. I want to get into precious metal talk for a few minutes. We've talked about the government, we've talked about the ridiculousness of the government. So there's a couple things I wrote, a couple questions to ask you. Let's start with the big gorilla in the room. Are they going to audit Fort Knox? Is that going to come to fruition?
[00:30:12] Speaker D: I think they're gonna look.
I don't know if they're gonna audit, but they'll look. I, I, I think they'll at least look here, here's the, the thing about the, the audits versus looking, looking. Hey, look, here it is. Here's a picture of a bunch of gold.
The thing that we really need, obviously, just random testing of bars. But more importantly, because I listen, I believe it's there. I hope it's there. I, I really do, and I think it is. But the part that we need to know is how much of that have we leased out? Because that is something that the central banks do for your audience that maybe doesn't follow.
[00:30:56] Speaker E: Gold.
[00:30:56] Speaker D: Right now, there has been a unprecedented amount of gold pouring into the United States. Some people are speculating that it's the Fed and the treasury bringing back that gold that they may have leased out, getting ready for a potential fortnight Fort Knox audit. But the reason I'm hesitant to say that they're gonna audit it is somebody, Jay Powell and his last testimony in front of Congress, which was like a week ago, maybe two weeks ago now, they asked him about, hey, we filed the Freedom of Information act request four years ago. You still haven't answered it. We want to know whose gold you're holding and also how much of it's been leased out. And, and Jay Powell again said, yeah, we're not going to tell.
And, and I don't know where it goes from there, but we do need that. And, and remember, not all the golds in Fort Knox. There's gold that the Denver Mint, there's gold at the West Point Mint. There's gold at the Federal Reserve in New York. Most of it, though about 4,500. A little over half the gold is, is supposed to be at Fort Knox.
[00:32:10] Speaker E: So, and apparently there's been bills over the last 10 years to try to get this audited before, and it didn't go anywhere. I mean, what, 1974 was the last time? And they only looked at a small portion. So when you talk about like repatriating gold, is that what I'm Hearing about coming from London, is this, is it other countries too? I mean, obviously, I don't think.
[00:32:30] Speaker D: Yeah, London and Switzerland are the two places where obviously London is really the hub of, of gold and silver trading is done really in London. So they're, they're so backed up now, they're saying it's eight months for delivery, which, you know, it's supposed to be 72 hours.
And then Switzerland, they're the, the biggest place where refining of gold happens. And, and it's been nothing, but every, every ounce available has been coming to New York.
And, and it's something where a lot of people are now saying, okay, wait a minute. Okay, somebody. Oh, it was terrorists. And, and then it was, oh, well, there, there is a price differential and the lease rate shot up. And they, they try to justify why, but we've gotten to the point now, RJ, where. Where. Or Jr. Excuse me, where. The, the amount has been so overwhelming that those answers just don't work. So what it is, who knows? Eventually the truth will come out, I think. But the one thing about the gold market that's really unique, nobody has to tell.
China doesn't have to tell us how much gold they bought. We don't have to say. We don't even have to tell if we leased out all of our gold. So that's one of the things that, that makes it difficult to figure out certain.
[00:34:00] Speaker E: And you just said New York. Sam also asked. He heard that they're flying gold on planes. New York. What's with New York? What's that about?
[00:34:06] Speaker D: So that's where the COMEX is. That's also where the West Point Mint is. That's also where the Federal Reserve stores not only some of our gold, but some of the other countries are. Now, a lot of countries have taken their gold back, so there's less of it there. But. But that is, that's the speculation. And then of course, you also have the, The North American ETF is there. That ETF in particular, GLD, they took 48 tons of gold in a single week last week. So that's, by the way, just for you. That's a lot of gold. That is an immense amount of gold. But yeah, they're actually sticking some gold on commercial flights, believe it or not, in London even said, well, there's a shortages of vans to transport the gold from the vault to. Yeah, I guess to the airport. I mean, I don't know that I buy that particular story, but nonetheless, it has definitely happened. Some big players are taking a lot of physical delivery and that's what's unusual for the go. There's always a lot of paper. But most people say I'm gonna, I'm gonna trade the paper to try to make some money longer, you know, going long or going short. This is actual physical delivery and that's what makes this so unusual. The amount really something that we haven't seen before.
And it's all going to one place, New York.
[00:35:38] Speaker E: And it's, it's another example of how unchartered our territory is right now. So, and, and leading into something else that I've heard you talk about the last couple weeks, but I'm not sure I understand it. You know, you were saying that they're going to revalue gold. Explain what that means too.
[00:35:56] Speaker D: So, so yeah, so Scott percent the new treasury secretary. Right. They, they understand, hey, it's not a good look to Yell J. Powell to cut rates when the inflation is really high. But we're going to do alternative things to try to drive the 10 year note lower. Right, because that's where all the mortgages are based off of that. Your car loans are based off of that. All the financial stuff with loans is based off of the 10 year note. That's why it's important.
Obviously most people don't know the, the gold is valued right now in the United States. The treasury owns it. The Federal Reserve holds what they call the gold certificates.
We claim to have 8,100 metric tons of gold. Right now it's valued at 42.22 which is about $11 billion. So on the Treasury's balance sheet they have these, these gold certificates and it's valued at $11 billion. One of the things that they could do, remember quantitative easing? The Federal Reserve bought all this debt, put it onto their balance sheet, drove the rates down. Right. Remember ten year note was yielding like half a percent. Interest rates were zero. One of the things that they revalued gold and let's just say $3,000. Hey, we're going to revalue it at $3,000 or let it float on the market. All of a sudden that 11 billion is worth 800 billion. The Fed could then give that money to the treasury and the treasury money to issue less 10 year note debt. Kind of like hey, we're going to pay that, we're going to pay this off. So there's not going to be, you know, that's about two months of borrowing $800 billion. If they spread it out, you know, Maybe they use 50 billion a month, they could artificially drive rates down and, and, and not have to say were doing quantitative easing. Right. It's just another trick that they could do. The German bank, a lot of banks in the world already do this. They, they, they set the price of gold to what the open market is and then that allows them to take some of that, that gold value and, and use it to, to pay off debt.
[00:38:20] Speaker E: So, and if that happens, how does it affect retail investor? If I have, you know, one ounce of gold, which is now what, like 2900 an ounce, what will that do to it?
[00:38:30] Speaker D: Should I expect now, now you're probably talking about the, the United States now becoming very interested in gold prices being high and going higher.
And most people speculate that that will, will drive the, the price considerably higher because that way the higher the price gold goes, the more money they can give to the treasury is kind of the, the modus operandi. We'll have to wait and see. It makes good sense to me that, that that's probably going to be the result if they do it again.
[00:39:09] Speaker C: We're a global economy. How can the US just say we're revaluing gold and not have that effect across the world?
[00:39:17] Speaker D: Yeah, and like that's a great question, but some of my listeners asked me the exact same thing. Most of the world already does this. We're kind of one of the few guys in the world that does it. Right? Because, you know, we're the dollar's the global reserve currency and we don't want to make gold be more important than what it is.
It's, it, it's, it's an option. So when you look at the treasury, what options do they have? They have government buildings is on the Treasury's balance sheet. And of course, let's face it, government buildings tend to not be the nicest buildings, office buildings. Nobody really wants office buildings to begin with, but there's, there's, you know, four, five, six billion dollars maybe in, in buildings that they could sell. That really doesn't move the needle. They could sell Fannie and Freddie. They could privatize Fannie and Freddie, which would make mortgage rates actually go quite a bit higher. Probably add another point to mortgage rates. But Fannie and Freddie's been in receivership for a long time. Maybe they could get 10 billion out of that deal. And again, not a big move.
Doesn't really move the needle. When you talk about gold revaluation, we're talking 700, $800 billion. Right. That's more of a, of something that could move the needle. But Those are the only assets the treasury has. So if they're going to do it with assets, those are their choices.
[00:40:44] Speaker C: Interesting.
[00:40:46] Speaker E: Makes sense. So if you're going to like, how soon will this take place? I mean, if you're without a crystal ball, is all this coming at once? Do they have to do that before Fort Knox? If they do audit and I mean, how does this, I will say this.
[00:41:00] Speaker D: If they, if they do an official audit, which really means I'm gonna, I'm going to Denver, I'm going to New York, I'm going to make the Fed tell us the truth about who's gold, how much of it's leased out, and we go into some audit program that would be, that would have to happen first before they could revalue. If they just do a Looky Lou, then I would say, I don't know. Right. Because they can do it anytime they want without auditing it. But obviously audited would make everybody feel better. But, but the realities are, I don't think it's necessarily dependent on an audit, but if they did an audit, that would lead me to believe that it is very much in the realm of happening and that's why they would go through the lengths to do it. So I don't know that answer. I'll say this. They're gonna, that's probably the last thing they want to do. If they can get through the, this rough patch with the tariffs and the layoffs and, and whatnot, and, and the treasury can kind of hold it together. I don't think they want to do it. They may have to do it. That's, I think that's what we're looking at.
[00:42:16] Speaker E: Makes sense run. And you know, in my theme of unchartered territory, when you've got Rand and Ron Paul, Elon Musk, Trump, when they're all on the same page that we need to know everything. You said the word transparency earlier. I think there's another area that's going to change. I think we're going to, I think we are going to get some, some information on Fort Knox.
[00:42:38] Speaker D: I think that's an easy win. I agree. You know, and I may be in the minority. I think gold is there. Prove it to us. I think that would go a long way. And there are certain things, easy credibility wins. I think Trump should take advantage of every one of them, and I hope he does.
[00:42:54] Speaker E: And I mean on the converse of that, if the gold's not there, how will that affect you personally? How that affect, you know, me and Anthony and Sam as Tiny little fish that own a little bit of gold.
[00:43:05] Speaker D: I mean, it wasn't there, right? I, I don't even. My guess is the gold market would, they would probably put it on hold and try to figure out what to do, because it would if the gold wasn't there, I mean, it could be $10,000 literally the 24 hours later. So I think they would probably try to freeze the market at least for a little while to figure out what to do next.
But that would be, that would be very chaotic and that would also, I think, cause a lot of problems in the bond market, believe it or not. Because, you know, a lot of these countries are taking us at our word that it's there. And if it's not, I would think that you would see a dramatic rise in interest rates because the bond market would be either that or a collapse in interest rates, one of the two. Right. Because the, the bond market would say, oh my God, we're going to go into the next Great Depression.
I don't know, but it would be traumatic for sure.
[00:44:11] Speaker E: So. And I mean, aren't we heading towards the next Great Depression anyway? I mean, yields inverted, then they reverted. Now I understand they're inverting again.
And by the way, I mean we are, you know, as here three to six months after the yield curve on inverts, we go into a recession. What does it mean that we're going back into inversion? I mean, is this delayed?
[00:44:32] Speaker D: Well, that's the bond market saying we may be going back into recession. So the timing here, we're about five months into this and I think the bond market's just worried about the tariffs and then of course, the cutting of government.
Now if you see unemployment rise and all of these things and everything's priced to perfection, Wall Street's priced to perfection. We, we need everything to, to go perfectly. I mean, I thought Nvidia had outstanding earnings yesterday and guess what? It wasn't good enough. It was like. It was, it was, it was good, but it's not Nvidia good. Right. And, and, and you know, they didn't get hammered, but their stock was down like 3% today. That's how perfect this thing has to be. So I think the bond market's just being cautious here and, and worried now instead of worrying more about inflation right now, I think they're more worried about can the US economy take the tariffs and all of the doge and government cutting and spending before we get the, this, you know, because let's face it, we won't hear about A government budget till March.
[00:45:41] Speaker E: Right.
So when you, and when you. Let me bring you back just a hair. When you talk about things having to be perfect, look what happened last week with Walmart. Well, as you hear this two weeks ago, I mean, it was pretty cool.
[00:45:53] Speaker D: And they got killed. Yeah.
[00:45:55] Speaker E: Yep. So I don't know. I mean, I've been saying there's cracks in the Teflon Dow for forever. So I, I think everything's going to kind of start hitting at once. So it'll be interesting. You know, I, I know that you watch the banks. I mean, we talk all the time in the show about how the banks have no money, run a fractional, you know, reserve that's been at zero for five years coming up. And the, the government said to the banks, you don't have to keep any reserves.
[00:46:19] Speaker D: None.
Gerald, thank you so much for bringing that up. People don't know. They, they threw all the banking, Dodd Frank stuff out the window and, and just kept the stuff that hurts us. But right now the banks have to keep no reserves. How. It's just idiotic that they're allowed to do these things and then they're allowed to. Well, we, we don't have to book these losses because we're going to hold this stuff forever. That's not what banks do. They don't hold this stuff forever. It's a very dangerous game. And I don't like what the f. FDIC did yesterday. They made a big announcement. I, I'm, I know I talked about it. I'm sure they didn't on the tv. The fdic, they will keep telling us that they have, you know, 66 banks that are really bad. Of course they don't tell you who they are, but they always told us how much assets those banks had. So we kind of knew. Okay, These banks aren't very big. No big deal. Nothing to worry about. As of yesterday, they will no longer tell us what the assets of the bad banks are. So they could come out next quarter and say, well, now we've got 75 bad banks. And people go, oh, that's not that bad. I mean, it's more than what we had, but it's still only 75. But if there's some huge banks in there, we would have known it by what the, what their assets were. They've taken that away. So now we truly will be flying in the dark as to if any of any, any of the major banks are in trouble.
[00:47:52] Speaker C: That's terrifying. I mean, if you look at, so when we talk about those Quarterly reports because we look at that all the time. The unrealized gains or loss since on their investment securities in was it 2008, you know, was about a hundred billion, right now we're closer to 700 billion. Between 550 and 700 billion for what the FDIC is holding and potential losses.
[00:48:24] Speaker E: If there's a modern day run on the banks, which we think has been going on for years now, but if it grows legs, I mean we point out all the time, if you have money in a bank, you know, more than just a day to day checking, you need to go to fdic.gov you know, look up the depositor insurance fund and see that it's got a little over 1% coverage on your money. And that, that always leads me to the fact that in the, in the world, Yemen, Greece, I'm looking at you, things can change. We are not above this. You know, you brought up Dodd Frank of 2010.
We're screaming at people, make sure you understand what a bail in is. Make sure you go to see Joe, have some hard assets, pay down debt, have some physical cash at home. So before we get to a central bank, digital currency, you can still operate. So the whole thing, you know, Anthony said the word terrifying, it really is terrifying. And everything is leveraged. When you really want to get deep, look into derivatives, look where your money's going that you put at the bank. Don't stop at mortgage backed securities and you know, the nice buildings that they're buying, look deeper. This, the whole world is a Ponzi scheme.
I don't mean to be negative.
[00:49:35] Speaker D: That's what fiat money is supposed to do. I, I, people just don't know their history. The bankers know it, everyone at the Federal Reserve knows it. The, the money is with the fiat money system, eventually it's supposed to be worthless, right? You inflate, inflate, inflate, inflate, inflate until eventually people are like, I don't want this anymore. And, and you know, we did not invent fiat money. People don't realize that either. The Chinese actually, believe it or not, were the first ones to have fiat money. And every one of them has gone to zero. Not one of them has stood the test of time. You know, you look at the Eurozone, that's just an example of fiat money going to zero, right? They, you know, what is your German mark worth today? Nothing. What is your Frank worth? Nothing. It's, you have to have a euro. If you don't have a euro, it's not worth Any thing.
And this is something where that's how the system is designed to work. I hate to say that, but that's how. And that's why I think we're getting ready for a digital currency. Because essentially the fiat stuff will be worth nothing. But now we'll have this other one.
[00:50:40] Speaker C: Well, the digital is just, it's still a fiat currency. It's just now not physical. It's the exact same thing.
[00:50:48] Speaker E: Well, we've been saying that for years. When we started this show three years ago, we brought to people's attention executive order 14067. We've, we've brought up Fed. Now we don't talk about it much lately because it's, it's way on the back burner. But. And again, my thinking is all of these things go really slowly and then all of a sudden, you know, I mean, how did, how did you file bankruptcy? It was really slow and then just bam. So I, I don't know. One of my things watching the world. Anthony had sent me an article last week about the BRICS nations, how all sudden Putin and Trump are negotiating. They're going to send us 2 million tons of aluminum. We're going to get rare earth materials, all this stuff. India wants to keep using the dollar to trade. Saudi Arabia, you know, we went off our compact with them what, six months ago and no effect at all. So is there a chance that this fiat currency is going to be stronger because of what's going on in the world right now? Could we go another 300 years? I mean, as a nation, the big picture, every single thing around me is uncertain right now. How does it play out?
The stuff? I mean, when you look at all of the Doge uncoverings, is all of this going to end up saying you don't need the fiat currency, it was all going to Pelosi household and Schumer and Warren.
We can't have that kind of fraud and abuse again. So we're going to give you this central bank digital currency and then we can monitor and track it and have full disclosure and you can go right on our website and see that we're solid. I mean, does, does this whole thing end? Is that what this is all about? It ends with a digital currency?
[00:52:27] Speaker D: Yeah, Control and, and this is the bankers. Let me. Here's who they hate the most.
Anybody that stores a lot, a large amount of cash under their mattress, they hate that. All you people out there that have huge balances in your bank and you have it month after month, year after year, they hate you.
And I mean that with all sincerity. Why do they bring rates down to zero? They wanted you to take the money that you had sitting in your bank account and spend it. They didn't care how you did it. Buy a boat, go on vacation, buy a rental property, spend it. We're going to entice you to spend.
Right. We're going to entice you to spend it.
They don't want anybody to save anything. And the digital currency gives them even more control because now they can say, well, we're just going to have interest rates be 5% forever.
But when it comes to your digital currency account, it can be 5%, it can be 3%. Heck, it can be negative 3%. Right.
[00:53:35] Speaker C: They can expire it, too. It's like a gift card.
[00:53:38] Speaker D: Yeah. We can do what we so desire.
And no more money in the mattress. Every, every, all the money's in the system. We know where it all is.
I hope that doesn't happen. I hope people are smart enough to realize they're the reason that the money has gone, you know, has gone worthless to begin with.
And we need to, we, I'm, I'm a big brother.
We need to do well.
[00:54:06] Speaker E: And, and you're right. People don't know. That's why they need to listen to you Monday through Friday. They need to listen to us on Saturdays. They need to be excited, exposed to this stuff. So they do know. And I hate to say this, Joe, but today flew by faster than usual. We are out of time, but thank you so much for being back with us. And you did say. I did. It's, it's being recorded. You said you'll come back anytime. So you said you're ready for part three and four.
[00:54:28] Speaker D: Absolutely. J.R. anthony, always great catching back up with you guys. And again, I look forward to coming back.
[00:54:37] Speaker E: Thank you so much, Joe.
[00:54:38] Speaker D: All right, God bless, guys.
[00:54:40] Speaker E: Take care.
[00:54:40] Speaker C: So check out Joe Jaquin On 10:10am 9 to 10, Monday through Friday, Patriot Trading Group. Check him out online.
But that is it for today's show. If you like what you heard, you have questions on any of the topics, you can reach out to us too, team. At anothermoneyshow.com is the email. Set up
[email protected] give us a call. 623-523-0444. That number again, 623-523-0444. Hope you enjoyed the show and we'll see you next Saturday at 5am and noon.
[00:55:22] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com investment advisory services offered 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.
