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Economic Miracle or Economic Mirage? with Collin Plume

The Charlie Kirk Show / Charlie Kirk
The Truth Network Radio
August 1, 2023 5:00 am

Economic Miracle or Economic Mirage? with Collin Plume

The Charlie Kirk Show / Charlie Kirk

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August 1, 2023 5:00 am

According to the Fed, inflation is down. The stock market just had its longest winning streak in years. Unemployment is low. So why are most Americans still feel deeply gloomy about the overall state of the economy? Colin Plume joins Charlie for a far-ranging discussion about asset prices, long-term growth, and how data can hide just as much as it reveals.

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The US dollar has lost 85% of its value since the 70s, when the dollar decoupled from gold, and the government seems bent on continuing the tradition.

Charlie Kirk here. From now until after the elections, the government can print as much money as they want. The last time they did that, inflation went up 9%. Gold is the only asset that has proven to withstand inflation. Invest in gold with Noble Gold Investments. You will get a 24-carat, one-fourth of an ounce gold standard coin for free.

Just use promo code KIRK. Go to That's, the only gold company I trust.

Hey, everybody. Colin Plume from joins us. We talk inflation, we talk gold, we talk brick, centralized-based digital currency. I encourage you guys to go to, promo code Charlie. It's where I buy all of my gold.

They are the partner for this entire episode. I think you'll really enjoy it., promo code Charlie. As always, you can email me,, and subscribe to our podcast. Colin Plume is here for the full hour. Buckle up, everybody. Here we are. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.

That's why we are here. Brought to you by the loan experts I trust, Andrew and Todd at Sierra Pacific Mortgage at OK, everybody, we have not done a deep dive on the economy in quite some time. We're going to have an entire hour discussion with my friend, Colin Plume. He does a great job, and I buy all my gold from Noble Gold Investments. And look, there's a lot of bad people in the gold industry.

They're amazing. It's This is going to set up our entire conversation around modern monetary theory, economic conditions, headwinds. Colin, welcome back to the program. First, how are things going at Noble Gold?

Charlie, everything's great. Very busy over here. Obviously, people are divesting into gold and silver and platinum, which I don't know if we have time to get into, but platinum is on the rise right now. People are talking about that metal. So yeah, we're extremely busy over here in the summer. Yeah, tell us about platinum.

We have time. Well, platinum is interesting because anyone that's in the gold business for a long time remembers that platinum was more expensive than gold for many years until about seven or eight years ago. Platinum is sitting below $1,000 right now, and most experts believe that the use of platinum is going to get moved over more into catalytic converters. Palladium went parabolic and hit over $3,000 an ounce, and that was the main driver. It pushed that price up, but they believe that platinum now will start to take over that use, so they think that platinum is undervalued.

And for people that don't know about mining and all the things that happened there, gold, silver, platinum, palladium, platinum is the most difficult metal to mine and find. So sitting below $1,000 is a unique position for the metal. So let's kind of dive into some of the more economic macro stuff. An unusual set of circumstances, some people think we're in a recession, some people don't.

I mean, it's a lot of confusion. Colin, have you seen an economy as unpredictable and hard to describe as the one we're living through right now? Well, yes, because you have a lot of jobs that, you know, a lot of middle management tech jobs have just been wiped out this year. Most of the large tech companies have been shedding jobs left and right. So you have a lot of these high net worth people that are looking for jobs, can't find jobs, they're really struggling to find that. Unemployment they say is low, but obviously it doesn't factor people, you know, jumping out of the workforce and not even looking for new jobs.

So I don't know if that 4% number is a valuable number to look at. And then, you know, you just look at this debt bubble that we have, this massive commercial debt that's coming, commercial office buildings, no one knows what to do with these high rises and all these major cities. And so, and that's a major driver of jobs.

Also, you're, you know, you're talking to hundreds of thousands of jobs in real estate. And then the banks, obviously the big, the big talk is still the banks. I know there was a lot of bank issues that happened earlier this year. There were some, a few smaller banks that, that merged PacWest and California Bank merged recently over about a week ago. So no one's really talking about that. Yeah, that's right. There was a fifth bank failing last week and no one talked about it, but yeah, keep going.

Yeah, yeah, exactly. And no one really talks about it. I think they, people don't realize that the banking industry in general is in trouble because if they're not doing loans, which right now residential loans are down by almost 80%. They're not going to loan on any of these commercial buildings. They're nervous about which properties, how does a bank generate revenue if they're not doing any of these loans? And obviously people don't want to keep money in cash, so they're divesting.

They're either going to different banks or a lot of people bought gold and just had it stored at their house because they just didn't feel comfortable. So if a bank doesn't have cash, they're not doing loans, how do they make money? They don't charge fees. Most of them charge very negligible fees.

So how do they stay afloat? How do they stay profitable? We saw what happened with Bank of America is they finally got caught for opening up new accounts, which is one of the ways they make money. So they had a pretty hefty fine that they're going to have to pay for, which Wells Fargo has been doing that for years and years. But banks are in for a lot of trouble.

A lot of regional banks are in trouble. And so we're just in the middle of it, but I don't think a lot of people are talking about this banking crisis. And the buried lead of it is that the Fed, the Fed will lie about this, but they have very quietly expanded their balance sheet, which I think is the reason why the Dow has been going up the last four or five months, is we've actually seen increases in liquidity. They're very quiet about it.

And again, they'll deny it. Jerome Powell was asked about it. But Colin, you know, we're seeing a very unexpected increase in equities and we're seeing the Dow go up and no one really knows why. But I believe the reason is we've ever since Silicon Valley Bank, the Fed turned the guzzle back on Colin. Right.

And that's and that's what we need. That's in essence for equities to go up. That's what you need more money out in the markets. That's the only way we're going to see it go up because we haven't seen we haven't seen any positive GDP.

We haven't seen rave earnings coming out from a lot of those companies that have been going up. And obviously, you see just this general shift up that's happening in the equity market. I believe that at the end of this year, and I've been saying this a lot, that they are going to lower interest rates. I know they did it, you know, they increased rates one more time. But I think at the end of this year, they're going to lower them, they're going to need to, to keep the economy going. Because if all this debt comes due in the next 12 to 18 months, all this debt, all this commercial debt, how are the banks going to survive with all this debt?

If they end up getting all these buildings that they don't need, how are they going to survive? So I do believe that they're going to shift at the end of this year. And I agree with you, they have expanded the money supply a little bit, which I think is pushed. And they've been deceptive about it. So let's walk through this, Colin. And this is what you get for people just tuning in.

It's, promo code Charlie, I buy all my gold from Noble Gold. So Colin, the timing of the commercial, you're saying it's really all going to come to roost in the next 12 to 18 months? That's what I've been a little uncertain about. It's been this long prediction, six months, nine months, you know, 80% vacant San Francisco, 90% vacant New York, 70% vacant Chicago. Walk us through the timing.

Why is there symmetry to it? Well, I think what it comes down to is there's a lot of three and five year commercial debt that's coming due at the end of this year. COVID and structured loans. Yeah, a lot of COVID structured loans, a lot of people were finding time to put deals together during that time period.

So you have this opportunity. Now, when you have a bank that has $100 million note coming due, they're going to try to negotiate that with the lender for many, many months. So it doesn't always happen right away.

And that's why you see a lot of these office holders in San Francisco and all over. They say, yeah, we try to negotiate to the bank for a long time and we just weren't able to. And now they just release it back to the bank, which is obviously their last option. It's the bank's last option, too, because they don't want to sit with a vacant building. There's a lot of liability. There's a lot of things that the bank's not able to do. And in essence, nobody knows how to turn all of these historic, older, not fitted for residential buildings into places that people can live. Because that's really the only use that would monetize in some of these major cities.

Everything else doesn't make any sense. Going back to the office in droves is never going to happen. And COVID really moved that forward.

That really pushed things away from people going back into the office full time. So the only way that they can survive is turn these into residential condos or apartment buildings. And the cost to do that in some of these buildings is astronomical. So there is a big bubble.

No, there's a huge bubble. And understand, can you walk through from a financial expert standpoint, these are blue chip. These are up there with self storage and how they were categorized. You have insurance companies that own these. These used to be considered the easiest, A, loan to get if you're a reputable developer. B, just to park some money, right, from investment.

And then, of course, from banks. Can you just because I think audience says, OK, commercial real estate, whatever, like you have no idea. I would say a large portion of the American economy is built on the trust that commercial real estate is going to pay the bills. Life insurance companies own these, which obviously is a big part of the economy.

You have REITs, which most people probably watching the show have some exposure to REITs. They may not know how much they have that is exposed into office buildings. Office buildings were considered Class A almost in a way like bonds. So what we're seeing happen is sort of similar to what we had happen in 2008 when you had that bond crisis, that debt crisis where they had all these bonds classified as Class A and they were really like Class D or F. That's what's happening today is that we classified these office buildings as great opportunities and safe. And there's a lot of REITs that own them. There's a lot of people like you and I that have a little bit of our portfolio that are wrapped up in these properties and they're going to come to the market and it's going to create a massive bubble. And it trickles down from the companies that own them to even the banks. And a lot of them are large banks, but a lot of them are regional banks. A lot of regional banks have this debt. So it's going to create a massive problem for the economy. And that's why I think the end of this year, they're going to try to open up the money supply, bring rates down to hopefully slow down this massive debt bubble.

There is a storm coming. I'm going to walk you through a story that I heard from a real estate developer recently, a commercial real estate developer. It's really telling.

Hey, everybody, Charlie Kirk here. The U.S. dollar has lost 85 percent of its value since the 1970s when the dollar decoupled from gold and the U.S. government seems bent on continuing the tradition. From now until the next election, the government can print as much money as they want. The last time they did it, inflation went up nine percent.

This means one thing. The security of your future and your family's future is all in your hands. Make sure you freeze the value of your wealth that you are holding. Invest in gold with noble gold investments. Gold is the one asset that is proven to withstand recession, inflation and just about all other economic threats. Noble Gold Investments is here to help you if you want to invest in gold.

You will also get a 24 karat, one fourth of an ounce gold standard coin for free. Just go to right now. That's They're the only gold company I trust. If you want to buy gold, they do a great job.

They're patriotic, transparent, ethical and responsive. I think the world of noble gold investments is where I buy my gold from. You should too. Look, I have referred a lot of high level people to noble gold investments and a lot of you use them. It's where I buy all my gold. A hedge against the inevitable with gold. Few investments make a better long term hedge against inflation. You guys could check it out. Promo code Charlie.

The entire hour we are partnering together. So Colin, I want to go to the story here. It caught my eye as I was reading this.

It's really amazing. The forgotten 401Ks. Daily Mail. Have you forgotten about an old 401K account? Experts say $1.65 trillion is lying in lost retirement plans.

Here's how to track yours down. This is extraordinary. Tell us about it.

Yeah, I mean $1.65 trillion. I love talking to people about this. And people ask me about it all the time about, hey, it's hard for me to get to retirement. And I always ask them, do you have a job maybe you worked at? And do you have a 401K? You'd be surprised how many people go, yeah, I did, but I didn't contribute.

Well, guess what? A lot of employers contribute. It's pretty common. There's tax advantages for the owner of that business or the executives. There's a lot of reasons. So a lot of people are just not aware of how much money is sitting in that. So you're having 29 million accounts just sitting there in a place. And the problem is, is that you're stuck in a 401K that there's no more money going into. And the fees on those can be pretty high. They average typically between 1% and 3% typically on the plan.

You're not putting any new money in. So a lot of people aren't aware of this amazing opportunity. And we've helped people find a lot of these old accounts. How do you hunt them down? Like prior jobs, former employers? By law, they have to tell you about them, obviously, if you ask. Because it's in your name. Yeah, right. They do, but they don't make it always that easy to get the accounts.

We have a full team. We have websites that we search. There's different ways that you can do it.

A lot of them are, you know, they have these plan administrators that we can help you negotiate or go in and talk to them about it. But I've had people, I had one just off the top, I had one gentleman who had five different ones. And they range from 8,000 and then he had one of them that he forgot about had almost 18,000.

And, you know, they're all in between. And then he had his IRA and we moved it all into physical gold and silver. And the reason that it's not a good idea to keep it there, and even if you don't put it into gold and silver, is that you want to move it into an IRA so you have control of it. You can move it into a self-directed IRA. So getting these accounts, and a lot of times people are shocked how much money is in there. You know, the administrators, they'll just keep it in there for as long as they can.

They'll just charge you fees. So the idea that you move it into a self-directed IRA so you get control of it, get the fees down, is really a smart thing to do. Obviously, we can help you get into precious metals. But even if you moved it into, and went into cash, and then decided later what you wanted to get into, it's a great way. And there's a lot of lost money out there.

You know, trillions of dollars. So just for the layman out there, this was an interesting education for you. What is a gold IRA? What exactly is that? Yeah, so you can put gold or silver into your IRA. These coins and bars, you can buy physical, real gold and silver. So that's what we do at Noble Gold. We help you do that. So you can take an old 401k or any IRA, roll it over, and we do all that paperwork and help you do all that for you.

But you can actually put the physical metal in there. And the reason that people like that is as opposed to an ETF or bonds or stocks, you own it. It's your gold and silver.

It's one of the few assets in an IRA you actually own by yourself. We at Noble Gold just help you facilitate that. So for people that want to diversify, for people that want to get into something different, something tangible, it's a great option that we help them do. Yeah, and look, I don't do investment advice.

I'm clear about it. But I do give you advice on who to buy from. That's what I will do, which is Noble Gold Investments. And I've had some real bad experiences with some gold companies, let's put it that way. But you guys are amazing, Colin.

You text me back immediately. Big purchases, small referrals. And you guys have really grown tremendously post-COVID.

Is that right? Yeah, our staff has almost tripled since COVID. And I think a lot of it has to do with the partnership like ours that we have and really working with the right people. The thing that we really focus on is we always answer the phone, whether gold's up or down.

Customer service is the real key to our business. But I also think just the demand for gold. I saw an interesting study today, a State Street study came out. And actually, it's sort of shocking news that they did a study about gold in portfolios. And they did millennials, they did a few other generations.

I can't think of it as a brain fart right now. But ultimately, what happened was they realized that millennials had more gold in their portfolio than the older generations. They had almost 16%. 16% of their portfolio was in gold.

And it's sort of a shocking revelation that younger people, and we've been seeing it, have been moving into gold. Fidelity Charitable released its latest giving report. According to the report, its account holders in 2022 recommended $11 billion to nonprofits in the mixed Planned Parenthood. In fact, according to the report, Planned Parenthood was just the sixth most popular nonprofit among Fidelity Charitable account holders last year. Does that upset you?

Well, it upsets me too. Open a giving account with an organization that shares your values. Visit slash Charlie to learn more about Donors Trust. That's slash Charlie to discover how you can partner with a giving account provider that shares your values. I love Donors Trust. I encourage you guys to look at it right now.

They're excellent. slash Charlie. So, Colin, one of the consequences of our involvement in the war in eastern Ukraine, which, by the way, is heating up beyond anything that I think people realize. Front page of the Wall Street Journal shows drones target Moscow high rises damaged. So, Colin, is that the dollar is now being put into question as the world reserve currency. Russia is trying to get back at us by uniting the BRIC countries, Brazil, Russia, India, China, South Africa, which could potentially impact the dollar as the world reserve currency status. How real are these threats and what does it mean for the integrity of the U.S. dollar? Financial transactions between countries happen in the dollar. That's down a few percentage points from five or six years ago. The reserves of most countries in the dollar used to be in the 70-75% range. We're at 58% right now, the dollar being reserves in central banks.

So, we're seeing the slippage happen and obviously those numbers are big when you look at the amount of money we're talking about. The BRIC nations, the information about them having their own currency that's backed by gold was leaked a few months ago. They've tried to downplay it pretty dramatically over the last month or two because they need to buy more gold to have these currencies.

So, even though China has been buying a lot of gold, India has been buying a lot of gold, we know Russia has always been a major buyer of gold, they're trying to accumulate more so they don't want everyone to go out and buy as much gold because obviously they have this currency coming and they're going to need to back it partially. They have a system that they've tried to introduce, it hasn't worked yet, but I think it could get more momentum if it was backed by gold. They have a BRICS payment system that would allow for their transactions to be done much quicker and much easier. And that's one of the things that's on the agenda at their meeting August 22nd, August 23rd.

They're going to be discussing this, among other things that they need to discuss at that summit. But a big conversation and a lot of people that talk about money and talk about currency are very much concerned about this currency being released and it being a much stronger currency than our U.S. dollar. So how does this tie in with the push for centralized bank digital currency? Well, I think what it is, it would be a digital currency.

They're not going to release anything paper. So it is going to be a digital currency, it would just be backed by gold, and if they can figure out a way to make the transactions seamless between these countries, it would make sense for them to go with a currency that they have some more vested interest in. At the end of the day, having the U.S., our currency gives us power over the world. It allows us to dictate a number of things. It also, on the negative side, it allows us to spend freely. That's right. If we weren't the world's reserve currency, we would not be able to do what we've been able to do with our currency. So in some ways, some probably smaller ways, it's a negative that we can kind of spend freely. Without any consequences. Yes, that's right.

Without any consequences. Yeah, so what I think what we're looking at is countries are going to continue to divest into other currencies, but they're still looking for that replacement. The yuan has pushed pretty dramatically. They have a digital currency application in China. People are starting to use it in China.

It's becoming more and more common. So we are seeing more of a push away from traditional paper currencies and things that people are using day to day. It's becoming more of the next logical step. The problem for us is that then if we do continue to move away from it, the world, then we have to sit down and really deal with our debt problem.

And I think there's never been an issue that we've been able to solve. We just continue to push more debt. We had an opportunity a few months ago to try to lower some of our obligations. And the Republicans came to the table with a pretty sensible plan in a number of areas. And some of the things passed, you know, reducing the IRS agents and a few other things that passed.

But there's some bigger issues that they were not able to hammer out. And that's why now we can just spend freely. I don't know if you remember that plan, but basically now we can just continue to spend for the next years. There's no limit right now for the next two years. And so they're just going to continue to spend freely. So we're going to go from 31 trillion to probably in the next two years, my guess will probably be close to 40 or 41 trillion dollars in national debt.

When I first started my activism in this space, it was 2010, 2011. The debt was right around nine trillion dollars. And so let's get to the root cause of this, though. We have a system, a monetary system that is built on fiat currency. It's not backed on in anything's the full faith and credit of the United States, but it allows the Federal Reserve to basically just do whatever they want. I think that this monetary system is unsustainable.

It's a creature of Jekyll Island. It was made by banks, bankers and people that have a very specific worldview of, let's just say, allowing government to get big because big government is tied with big money. Right. You cannot have big government. If you don't have loose monetary policy, the gold used to actually back the U.S. dollar. And then what happened? Yeah, so we we got off the gold standard completely in 1971 under Nixon. We pretty much got off it in 1933 also when we started because people actually had to turn in their gold. You know, the people actually had gold.

And at that point, you know, our inflation wasn't, you know, anywhere near where it was today. You know, the dollar having a backing of gold was actually really good for regular Americans. It set the table of, hey, the government can't just continue to spend.

They have some rules in place. They have some ways to kind of keep the spending down. And people really flourish.

If you look at the average American of what they could afford until even the mid 70s, the amount of things that they could buy relative to today was much better for regular people, just overall people. Also, just savers in general, it was much better for. And, you know, people say like now the banks are finally offering a four percent return in some of these accounts.

And, you know, people are, oh, that's, you know, that's great. But they're not doing it out of the cognition of their heart. The only reason that banks are doing that today is because they need deposits. So they're having to offer a return that's higher. And most of them, if you read the fine print, that higher return, that four, four and a half percent is typically for about six months. It's not an indefinite amount.

It typically goes for about six months and then after that drops down into threes. And if you really look at it, making three percent on money in a bank, when you're going to get taxed on that money, it ends up being closer to about two percent. And if inflation is anywhere where I think it is, I know the government reports it's in the high force, but let's just say it's a few percentage points higher.

You're at seven or eight percent. At the end of the day, you're only making two percent on that money in the bank after you pay the taxes on anything. So really, as you said, that this whole institution we've created is to help out the banks.

That's what it's all set up for. It allows the banks to just do whatever they need to do. And that's the only reason they're offering those returns. And so a few months ago when a lot of the banks started to have problems, a lot of people started calling us and they just said, you know, if I have gold and I need it at some point, can I liquidate it? And people don't realize, I mean, these assets, you can sell them. We sell bullion coins and bars. They're liquid anywhere in the world. So, yeah, I know your bank is liquid. You could push a button, get it the next day. But with us with gold, if you're talking maybe two to three days being able to get gold back and you can actually make potentially a better return or at least you have the money out of the banks, a lot of people just thought getting it out of the banks or at least some of the money out of the banks made a lot more sense, especially people that are sitting with above that $250,000 limit.

They were very nervous and they were just looking to get out any way they could. Well, and that's a common misconception that some people have is they say, oh, I have this piece of gold. It's an it's illiquid. What you're saying, though, is that there is a market which, of course, when you have a market, you could sell it.

You can potentially liquidate it. Right. Yeah, absolutely. 100 percent. And during 9-11, you know, when the stock market was closed, the gold market, silver market never closed.

There's no reason for it. It's a physical market so that you could buy and sell physical items at any time. So, you know, that's always the people that really concern. What happens if there's an EMP or what happens if the market shuts down? It's like these items are always going to be liquid. And I guarantee you, if the market has a shutdown again, these will be even more valuable because they're so easy to trade these things and they're liquid anywhere in the world. Anywhere you go, people want to buy gold and silver.

They'll trade it for anything that you want in any place in the world. So the website is promo code Charlie to bag a free five ounce America the Beautiful coin. Tell us about the America the Beautiful coin Colin. America the Beautiful coin is this one right here.

This is my favorite U.S. minted coin. And the reason is, is not only, so they made this coin in 2010 and every month or two they release a new coin with a different national park. So part of the proceeds goes to that national park, which obviously that's one of the reasons our country is so beautiful is we have so many amazing, you know, natural places that people can go and hike and enjoy.

So the proceeds go to that. The other reason I like these coins is that they only make between 30 and 35,000 of each national park. So there's really a limited supply of these coins. So that's really nice to get a bullion coin at a fair price, but also over time these coins will go up in value because they're not making that many of them. And, you know, 30,000 may seem like a lot, but at the peak, you know, in 2009 and 2010, they were selling 37 or 38 million Silver Eagles, these coins right here. So to give you an idea, the 30,000 in these per park is pretty low. So that's why it's one of my favorite coins and one of the reasons I typically offer it for people that are rolling over qualified IRAs. I really, really love this. Go to

That is I want to play cut 30. CBS poll shows that two-thirds of Americans view the economy as bad and the economy as struggling and uncertain.

Play cut 30. Our new CBS News poll shows widespread pessimism about the economy. Roughly two-thirds describe it as bad. Most say the economy is struggling and uncertain. Personally, 70% of working Americans say those paychecks can't keep up with rising prices. Most say, at best, financially they're staying in place, but more than one-third say they're falling behind. Nearly half, 45%, think the Biden administration's actions are increasing inflation.

Wow, that is a recipe for disaster., promo code Charlie. If you're interested in buying gold, and you can do the research on gold, it has an amazing track record. I personally buy a fair amount of gold. It's where I get all my gold. It's, promo code Charlie. In fact, again, I have to be careful because we don't give investment advice, but I'm just going to read a headline. JP Morgan projects record gold prices in 2024. I'm sure you saw this, Colin.

That's JP Morgan that's saying it. Hey, Charlie Kirk here. If you guys love this program and you want to support this program, if we have impacted or blessed your life in any way, I want to tell you about a new thing that we are starting it up. First of all, if you have supported us at slash support, nothing to worry about, you guys are going to be moved on over. If you want to support us even more and say, hey, I want exclusive content, I want to talk to Charlie directly, we are standing up this amazing infrastructure. Teams have been working so hard at

Not only is it a way to support us directly outside of all of the other channels, but get this, live Q&As with me and the team, articles exclusively written by me that you won't find anywhere else, pre-show prep calls and more. Sign up today at We love bringing our show every day and we can't wait to bring you even more content that is just for you at the Charlie Kirk exclusive. That's Head to today. Yes, there's going to be a lot of goodies, a lot of engagement, a lot of fun stuff.

But even more than that, if you feel moved and compelled that our show is impacting you and impacting the world, it would mean a lot if you became a member at I'm just going to read part of this article here, J.P. Morgan. J.P. Morgan has come out and they say, we're in a very prime place and we think that gold ownership and long allocation to gold and silver is something that acts as both as a late cycle diversifier and something that will perform as we look to the next sort of 12 or 18 months. Colin, I'm sure you're seeing and hearing this a lot right now. Yeah, absolutely. And it's funny, I was just thinking about it. For all the times I've been on your show, I think every time I've been on your show, gold and silver are up pretty dramatically in the last three times. I don't know. Maybe it's you. No guarantees, but it is a fact. It's no guarantee. It is.

It is a fact. Silver, yeah, silver had a nice bump today. Silver, it's sort of hard to figure out why it's not near its all-time high, sitting around 50 again.

But yeah, I think it's prime for this kind of environment. We're in a choppy. I think that's what everybody's seeing right now is that you look at some of the reports and you go, okay, well, unemployment seems to be low, but then people say, I can't keep up. Things aren't looking good.

You have a lot of middle management jobs in most of the tech companies, high paying jobs. Those are gone. They've been laid off this year. So you're getting mixed signals. Equities are up right now, so you're getting a lot of mixed signals. But I think ultimately, when you have a market like this, a JP Morgan and a lot of these big institutions are going to take some money off the table and get into more stable assets. They don't want to be too risky with what they're looking to do. So they're going to take a portion off and get into the physical metal. And I think that if you look at inflation, let's say it's going to sit in the 4-5% range, and let's say gold's going to be sitting in that, doing that or maybe a little bit better over that time period, it's nice to have an asset that has a limited supply. So that's why you have all these large institutions really kind of diving into it. You have the BRIC nations talking about backing a currency with gold, and that obviously could push things very dramatically, very quickly.

And then you just have the dollar just sort of, when is the dollar going to lose its status? And so you have all these elements happening there, and it just creates a lot of nervousness in the market. And that's why you see people take off and get into things that are stable, like gold and silver.

You've seen oil pretty much do pretty well. So a lot of commodities are doing well in this market right now. This is an unprecedented economic climate right now, and so I want you guys to check it out. It is

That is I'm going to play another piece of tape here, Colin, and I just want you to kind of summarize it all up. Let's go to cut 29. Senator Chris Murphy says, we're seeing a revolution of our economy right now. This is not what people believe.

Play cut 29. Inflation's falling. This week the GDP report was very good, but the American people are still rating the economy poorly.

What's the disconnect? Well, listen, the economy is booming right now. I mean, you're talking about unemployment under 4%. You're seeing a reduction in inflation that's outpacing all of our other global competitors, GDP rising. We are seeing an absolute revolution of our economy right now. The kind of good paying jobs that used to be the foundation of America coming back. And that's Joe Biden's policies. Closing thoughts. promo code Charlie Colin Plume. Pretty much the opposite of what I've been seeing out there. The way to get this economy moving again is to empower entrepreneurs, give them the ability, small business owners, the ability to grow a business. And right now in this environment, it's still very difficult. With interest rates this high for someone coming out of the gate that's new in business or looking to get money, it's very difficult right now. We've got to get our spending under control so we can get rates down and we have to empower entrepreneurs.

That's the way that we get out of this economic crisis that we're in. And yes, the numbers of 4% look great and everybody. But if people can't afford to pay their bills, it doesn't matter what the unemployment rate is. If they can't afford to pay day to day, that means they're not keeping up. And so I don't care what the inflation numbers is.

If 65% of Americans say it's going pretty bad, then I think that's a pretty fair test that our economy is not going well and we're not going in the right direction. promo code Charlie. We don't do investment advice on the show, but I do tell you, if you want to buy gold, go there. I'll tell you also personally, I'm buying a lot of gold. I think it's a great investment. But you guys do your own research. You figure it out. promo code Charlie. They're amazing to talk to. They're very honest. They're ethical. They're transparent.

They're patriotic. Fair amount of gold companies out there. I've been burned before, but I've been... Colin, we love working with you and we're going to keep on promoting you very strongly. promo code Charlie. Colin, thanks so much. Thanks so much for listening, everybody. Email us your thoughts. There's always freedom at Thanks so much for listening and God bless. This is your moment to get in the fight. Every tax deductible gift will be doubled. Join the ACLJ in the fight to keep America free.
Whisper: medium.en / 2023-08-29 11:31:55 / 2023-08-29 11:48:17 / 16

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