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And now, here's your host, Steve Noble. We're going to fold into what we're talking about today. Here we are at the Dow 30 right now, down 797 points.
Ouch! NASDAQ off 482, S&P down 127. But crude oil had a good day, up $3.91 at $119.59 a barrel. We just hit the national new record for gas, new record, $4.10 a gallon. And that's when we're at $119 in crude oil, but it lags a little bit, but gold just passed $2,000.
And so, wow! And we'll cut a deal to Venezuela to buy their gold, but we won't produce our own gold, and we're still buying Russian gold. So we're buying oil from Russia, and we're giving money to Ukraine.
So essentially, Joe Biden and his inept administration are funding both sides of the war. That's a great financial deal, isn't it? Speaking of financial deals, it is Monday, March 7th, the first Monday of the month, which means our good friend David Fisher from Landmark Capital.
LandmarkGold.com is with us once again. David, how are you, my friend? I'm doing a lot better than these volatile markets. Oh, goodness gracious.
Yeah, just totally nutso. So much going on. I'll be a little amped up today. That always happens when I have been off the air for a week.
I come back, and I've got so much in my head, I just kind of want to explode. But today, it's all about the markets which are exploding. And just wild, I haven't really seen anything like this when we've got, listen, we had 2008, we had the dot-com bust before that. But to see all these things, plus a land war in Europe, plus what's going on with oil, and then gas, and natural gas, and Russia, and China, and Venezuela, I haven't seen this in my lifetime. Have you?
Never, no. And I knew we were going to have about three or four of these, but not as many of these, more than a handful. So it's crazy, and that's why the market is very volatile. That's why you're seeing stocks down, and metals up, and oil up, and the black gold, so to speak. So it's just doing what it's supposed to do in reference to what's happening around the world.
Yeah, so it's really fascinating to look at, I'm just pulling up the market right now, and on a year to date, I'm just looking at the Dow Jones Industrial, which you go back to January 1st, you go, okay, we're looking pretty good, 36,585 today at 32,817. And just down, and down, and down it goes. And it's just crazy. So help us understand what's going on. Is it any one particular thing, David? Is it inflation?
Is what's going on with Ukraine and Russia? Is it the Fed? And then you've got, starting to raise rates, we've got the price of oil, which affects the price of gas, of course, or is it kind of a combination of all of the above?
It's all of the above. So if one of these things gets removed, it's not going to change the environment that much, unfortunately. The market, I've been saying for the last four or five months, is overvalued. Now it's showing the results of an overvalued market that's going through a correction. I've been saying we have inflation, and you will see a change in 2022.
Metals will start to outpace stocks. We're clearly seeing that. And the Fed talked last week while you're gone on vacation.
They reaffirmed that they're going to raise rates, they're going to remove accommodation. We'll talk about what that means. And we're going to move into some tougher times. I don't like to make that prediction. I want to catch myself in my spirit making sure I'm not a doomsdayer. I am not. But it is going to get worse from here for a while, probably three months to the rest of the year. Yikes.
Yeah. And that's why we now listen, if you're not a follower of Jesus Christ, then your house currently, David and I would both say the scripture would tell you, is built on the sand. And the more your house is built on sand, as opposed to the rock of our salvation, our faith in Jesus Christ and in his word, then this stuff is really going to rock your world. But for those of us that are even in the faith, we know, David, that these times come and we know that it gets worse ultimately and overall until Jesus comes back.
I don't think that makes it a whole lot easier, but it should make us sleep a little bit better at night. Is that how you deal with it? I mean, you're in the midst of this every day. This is your life in terms of your career.
It's not your life. Obviously, your life is in Christ, but your career and dealing with precious metals, which when things are hitting the fan in the stock market, as we'll talk about today, that's good for gold and silver. But how do you kind of handle it?
Just setting aside all of our agenda and all the different issues we're going to talk about, how do you deal with really tumultuous times like this? Well, my hope and trust is in the Lord. That doesn't mean I'm disengaged from being a steward of my money or talking about stewardship of money. So we're not of this world, so I don't let the things of the world alarm me, but I pay attention to them. Yeah, we're in it, not of it, but we still have to live in it. We're here in the here and the now, so that's why we pay attention. That's why we talk to David regularly to help understand. So whether you have a little, a medium amount or a lot, we're all called to be a steward of not only our finances, but everything else that we've been given.
So let's just kind of going through this list. Inflation, the threat of war, the Fed withdrawing accommodation, oil is surging. Is this all basically because of Russia?
Is Russia kind of the linchpin here? Well, we had inflation prior to Russia. You know, long before Russia went into Ukraine, inflation was over 7%. So when Biden said in his State of the Union address that inflation is his number one top priority, prices are surging. In Ukraine, it's known as the breadbasket of Europe.
Why? Because Ukraine is the fourth largest producer of corn, fifth largest of wheat. So grain prices have surged. The Russian invasion has cut off that and, you know, wheat is up 40% in last week.
So, and so are most of the grains. But inflation is not going away and there's not much that President Biden can fight inflation. He said he was going to fight it by raising the minimum wage from $7.25 to $15.
All that's going to do is kill the small business owner. So it's I don't want to pick on President Biden today, but it seems like everything that he wants to do or has done, not everything, but a lot of things are counter productive or counterintuitive to economic stability and growth. I mean, let's take a look at this. You know, he says, let's build back better for the break. Yeah. Yeah. Yeah.
That's got an interesting ring to it now, doesn't it? Build back better. Trainwreck everything should be his saying. It's not build back better. Nothing's getting better. It's getting worse.
Trainwreck everything. Way to go, Mr. President. We'll be right back. Take a breath. Breathe in a little groovy, steely dance. Try to calm your nerves a little bit, even when the whole world's on fire.
God still rules the universe with his feet up. Don't forget that. OK, no matter what we talk about today or the rest of the week, today happens to be what's going on in the markets and the economy and our investments in the markets and the Fed and oil and gas and gold, which now passed two thousand dollars today and gas, which is closing at.
Well, hold on. I'll look it up right quick. Gas. The Dow ended up the day almost down eight hundred points. You almost made it, guys. Down seven ninety seven. Crude oil is up to one hundred and twenty. Can you imagine if it goes to one fifty, one sixty, one eighty?
I heard an economist earlier today saying, hey, listen, with the way it's going in Europe, don't be surprised if it goes past one fifty. So now we're paying what? Four dollars and ten cents a gallon.
That's an average around the country, which is going to affect you at the grocery store. Gold that's at two thousand one dollars. Crude oil, one hundred twenty dollars, twelve cents and climbing.
And wow, it's just crazy out there. So I certainly hope that your house is built on the rock and not on the sand of just what this world has to offer. That's why we're talking to our good friend David Fisher today, a full money Monday.
Landmarkgold.com, as always, is the Web site and gold doing quite well and things when a lot of the world's on fire and bad things are happening. That's why you've got to have diversification. You've got to have something on the opposite end of the teeter totter.
If all your stuff's just in stocks and one thing or another, including precious metals, by the way, if that's all you have in one end of the teeter totter, you know what happens when the other kid jumps off the other end. Down you go and it's not pretty. And that's what's happening right now. So we're going to keep talking through these things. But again, David, thanks for being with us today. Absolutely.
I want to make sure I mention Michael Harnett. He's the chief investment strategist for Bank of America. And he said just recently on March 4th that the Russia Ukraine conflict just means bigger inflation shock and a possible bigger recession shock. So just, you know, all these prices going up, oil going up, is inflationary. You know, you would think that eventually the Fed, by raising rates, is going to tame inflation. They're going to have to raise rates drastically. I mean, three or four percent where we need to be. We're at a quarter of a point to get inflation under control. But, you know, so the Fed needs to do their part. The government, President Biden is trying to do his part. Back to what we were talking about. He shut down the Keystone pipeline and stopped fracking.
And oil was at $56. Oh, golly. So if we would just left, you know, the old adage, the most terrifying words in the English language. I'm from the government. I'm here to help.
Yes. If he would have just left it alone, left it alone, we would be oil independent. We wouldn't need to get seven percent of our oil from Russia. Oil would not be at one hundred and seventeen dollars in bill. It spiked to one thirty last night while we were sleeping.
And we won't be having the thought of hundred and fifty to two hundred dollar oil because we'd be energy independent, which is what we were for the first time since 1973 and 2019. So these ideas that are coming from the government intervening, it's causing nickel to spike 73 percent on Friday. It's causing oil up 20 percent in a week. Palladiums up 22 percent in a week. Weed is up 40 percent a week. That is not the fix.
Get back away. Let the market do what it's designed to do. Get oil production. This is a supply problem, not a demand problem.
And and just back away and open it back up and that'll fix everything. Yeah, like I was saying on the break, I've been saying this for months now, David, that for liberals, for progressives, and there is obviously a very political aspect to this. All this stuff takes place in the midst of politics. Ideology trumps reality.
It doesn't matter how bad it gets. And especially for the party of Biden, who claims to be the champion of the little guy, the little guys getting absolutely crushed. People that are making 200 grand a year or more, whatever, 150 or more a year are you go, yeah, this is a bummer.
But it's not changing their lifestyle. But the average American, this is absolutely decimating. And as things go up and gas goes up, all the other prices go up, everything at the grocery store is going to go up and like wheat and bread.
And then at some point, can we even buy everything that we need? I mean, it's crazy. And that's why when Biden says he's going to fix something, I just laugh. The only thing he's going to fix is he just needs to sleep more. That's what I think.
Just get out of the picture. I mean, I'll get I'll take the mean tweets and the general bad disposition from a Trump presidency over what's going on with Biden any day of the week. It's just unbelievable. So how bad do you think any what what's anybody out there, experts saying about the oil price? I mean, could we see one hundred and fifty, one hundred and eighty? Well, according to the CEO of the largest U.S. shale company, he said we could see two hundred dollars a barrel.
His name is Scott Shefeld. So he was interviewed by Financial Times last week. And he sees two scenarios, one bad and one catastrophic.
J.P. Morgan says we could see by the end of the year, one hundred and eighty five dollars a barrel. So Germany's not helping out. They're not cutting off Russia. They get 40 percent of their oil and gas from Russia. We're not cutting Russia off. If we want to end this thing, we just cut Russia off completely. But the world doesn't want to do that because the world is not oil independent of Russia. And Elon Musk even comes out and says, hey, get with the picture. Open up the oil reserves, he says. And this is negative for his stock Tesla, obviously. But he's he's he shouted and he says, I hate to say it, but we need an increase in oil and gas output immediately, quote unquote.
So that's the fix. But we're not willing to do it. Yeah, unbelievable. And this is the guy. Remember, everybody, we're talking about Elon Musk. Yeah, we're talking about Tesla and electric cars, but you have to talk about SpaceX. This is the guy that's leading the charge into space because he believes so strongly in environmentalism and the destruction of the Earth's environment that he's trying desperately to get to Mars.
It's the same guy. He turns around and says, oh, yeah, yeah, let's deal with a little reality here. We need oil and natural gas. We need to be an exporter, not an importer. And that's Elon Musk, the guy who's trying to get us all off the planet. So that's pretty amazing.
All right. You mentioned earlier the Federal Reserve, and I want to make sure we understand what withdrawing accommodation means, because that scares the tart on me. But let's go through the ABCs of the Federal Reserve, which I'm just going to give them an F, but we can do the ABCs. So the Federal Reserve creates money out of thin air. They buy our debt and they bought it from starting in 2008. They were under a trillion dollars in four years due to a thing called quantitative easing. They went to $4.3 trillion in four years, about a trillion dollars a year. Then they paused buying our debt aggressively like that. They just kept buying it every year for a little bit every year to accommodate the government overspending. In other words, somebody had to buy all the debt and to accommodate the stock market. Well, in 2018, the Fed went on a binge and started accommodating aggressively again, except for what they bought in four years, they bought in 18 months, another $4.3 trillion. So they're at $9.3 trillion. That's the Fed balance sheet. So some people say this is an asset. Well, when you own a piece of debt that the government can't pay, it's a liability. And the Fed knows this. That's why they're withdrawing accommodations. And that is the biggest thing that we need to talk about in this environment.
That is the biggest change we will have in our lifetime, in my opinion, because if the Fed who accommodated the debt of the government and the Fed who accommodated and supported the stock market that made it rally from 2008 till now, they're withdrawing this accommodation. We'll talk about what that means after the break. Yeah, unbelievable. David Fisher, Landmark Capital, landmarkgold.com, as always on hold. We're going to keep talking about that.
Withdrawing accommodation, that's like the worst drug dealer on the planet in a drug cartel saying, oh, we're not going to hold back anymore. We'll be right back. Welcome back.
It's Steve Noble, The Steve Noble Show. Last week when I was in San Francisco, I'm going to talk about that city more tomorrow. And if you're sitting there going, oh, San Francisco, I'm just asking you to go read the Book of Jonah and get yourself corrected there. But we went out to it's called Muir Woods. OK, it looks like if you're a Star Wars fan like I am, it looks like Endor.
These are redwood trees, unfortunately, in this case, because people are having conversation on Facebook Live during the commercial break. And I'm just kind of losing my mind, which is what happens when I haven't had access to the radio show for a week. All this stuff kind of builds up. So the Democrat Party, whether you want to hear this or not, I really care if you want to hear it or not. But the Democrat Party, who claims to care about the little guy, the poor people with their policies. And this is obvious under under Biden.
You look at Trump, forget his mean tweets, forget his demeanor and all that garbage. OK, just look at the policies. Look what happened to the country. OK, in 2019, we're a neck energy exporter. OK, that we could tell Saudi Arabia, Venezuela, Russia. We tell them, see, we don't need you.
Goodbye. We can take care of ourselves. And you're not at their beck and call. But then the Democrats come in and they're so beholden to the environmental movement. It's such a little G God for them.
And they're just scared to death because that's just a group thing thing. You just have to be that way until you get somebody like Elon Musk. I'm telling you, I was in Muir Woods with these beautiful redwoods.
And the Democrat Party cares more about the redwood tree in the forest than it does about your average middle class or lower class American. Show me your beliefs by what you do. I don't care what you say.
I'm going to watch what you do and what they're doing and their allegiance to the environment, which there's considerations there and there's things to work on. I'm not saying there isn't, but when you worship it and then you allow yourself, that's your virtue signaling as a human being, because you've got to get rid of God. Can't go there. So now we're the answer to all of our problems. We're the answer. Not God.
You can't even acknowledge him. We're the answer. Human beings, the Enlightenment.
OK, and then the Progressive Era in the early nineteen hundreds were the answer to everything that's idolatry, in case you don't know. So then they just they just pat themselves on the back and they're in the little screwy little bubble. Do you think Nancy Pelosi knows what it's like to live the life of her average person that votes for her? Are you kidding me?
I was just in San Francisco. You should see her neighborhood. You're like, oh, OK, sure, Nancy, you understand the plight of you don't understand the plight of somebody that makes ninety thousand dollars a year, let alone 60 or 50 or 40.
They care more about the redwood tree than they do you if you're a lower income person, because they're doing a lot more to protect the trees than they are your bank account or your ability to earn a living. It's really pathetic. All right. I'm going to jump off my soapbox. David Fisher, Landmark Capital, Landmarkold.com.
Welcome back. Yeah, Nancy Pelosi is worth a little over one hundred million dollars is what I just checked on. So I mean, I don't think she can understand going to over four dollars a gallon. She doesn't give a rip. None of them do.
She's going to jump on a jet and fly wherever and not have to worry about it. That's what's disgusting. OK, so the Fed, all the all this time, nine trillion dollars, they're buying up our own debt. They're printing money. They basically subscribe to modern monetary theory, which doesn't give a rip about debt. But that was all under accommodation.
So help me understand. That was when they're accommodating. Now they're saying they're withdrawing accommodation.
That's mind blowing to me. So just let's go back to the oil. When we were energy independent, oil was at fifty six dollars a barrel. And look what has happened just in the short amount of time when they change directions, when the Fed changes directions and they're going to start this month. You're going to see and that's what some of this of the market is doing right now, because the Fed is withdrawing their accommodation. In other words, they're not going to support the stock market anymore. They're going to sell also sell the nine point three trillion dollars. I'm not going to sell at all, but they're going to sell a big chunk of it. So who's going to buy that?
Right. In 1970, the Fed owned less than five percent of the debt. In the year 2000, thirty years later, the Fed owned 10 percent of the debt. And the debt was five point seven trillion dollars in the year 2000. Today, that's 30 trillion and the Fed owns 30 percent greater of the debt. And they're going to unload the debt. How is the government going to buy that debt back when the number one person entity, the Fed, our own bank, says we're going to no longer buy our debt?
Who's going to buy the nine trillion dollars in debt? That's why you're going to see your interest rates rise. That's why you saw interest rates at a quarter of a point, because the Fed wanted to buy debt cheap.
Now they're selling it. Now they want the rate to go up. They want it to go up because if the rate goes up, they make more money unloading their debt. This is all about the Fed. That's what the bottom line is. And so when they unload their debt, it's going to be a detrimental thing for stocks, unfortunately, and on that negative stock market. So don't send me the hate mail.
I have stocks myself. But it's also very negative for the financing of our debt and how we're going to move forward as a country. Again, if the interest rate is at a quarter of a point and we took in our national debt payment, interest only was five hundred and sixty two billion dollars last year, half a trillion, just call it that. If we go to two and a half percent interest, the interest payment will be five point six trillion dollars interest only. So this is we're headed towards a financial calamity.
I don't want to say that, but that's that's the reality. Who's refunding our interest payment? We're creating more debt. And now the Fed's not going to buy that debt and the foreigners are not wanting to buy the debt. That's the core of the whole financial system for the United States. And that's why many people who have nothing to do with gold have been saying the next financial crisis will be larger than anyone else. It will be focused around the government and financing its debt.
And that's unfortunately where we're headed. And that's why these people are saying much higher prices and gold than I'm saying. But if we have problems financing our debt. Forget inflation for a second. You will see really high prices of gold and silver. But inflation is causing high prices of gold and silver.
So the tide went out. We financed our debt at low interest rate. The Fed bought it. The government could overspend. Now the tide's coming back in that all the debt's going back to the government and the Fed's getting out of the picture and they're going to raise rates. So we're walking to an environment that is very, very challenging where our country or no country has ever been before.
And it's going to be extremely troubling. Who's going to buy that $9.3 trillion? I mean, who would buy? That's like junk bonds at this point, given the condition of the country.
I mean, I'm sure a good chunk of the world is laughing at us right now as Biden's begging OPEC to produce more gas, produce more oil, still buying oil from Russia, and then trying to cut a deal with Venezuela when we've got a bunch of it sitting right underneath our rear ends where we live right now. But seriously, who wants to buy our debt? I don't know, because the world's been backing away from buying our debt. Russia doesn't have any more U.S. treasuries anymore.
They sold them all last year. China's been backing away from buying our treasuries. The world, for the most part, is backing away from buying our debt.
And that trend started about five years ago. It's just escalated the last two years, and I think it's going to escalate a lot more when the Fed this month starts unloading the debt. So I don't know the answer to that, and that's the crisis question, is the answer.
Who will be? Well, I do have an answer. It's us. And that's what the bail-in is all about. That's where your money goes.
It goes to the Treasury to fund the debt. That's the essence of the bail-in, unfortunately. Yeah, and what's the best way for people to understand the bail-in? Because we've been talking about it for several years, but in terms of accessing the information and the education you guys have at Landmark, what's the easiest way for people to get that? Because if they're like, the bail-in, the bail-in, you have to understand what the bail-in is. You don't have a pre-9-11 mindset in a post-9-11 world.
You need to be far more imaginative and in a very dark and disturbing way, especially when it comes to this kind of stuff. But just real quick, David, what's the best way for people to learn about the bail-in? Well, they can call our company at 844-604-2575 or go to our website, landmarkgold.com, and ask for the bail-in report, which has all the pieces of the puzzle that's been put together to describe the bail-in.
But you can go to the government website, FDIC. There's an 18-page report that says the term nine times bail-in on it. So this bail-in is not an idea that some metal industry companies conjured up. It's been done eight times in eight other countries, and the government realized in 2009, looking forward, that the next crisis, they won't be able to bail everything else. So somebody has to come to the rescue. Nobody's going to come to the government rescue, the United States. Again, who's going to buy the $9 trillion debt?
So this is where it goes internal. That's why we could see this bail-in being triggered under the Biden administration, unfortunately. Yeah, because it gets so bad, nobody else can help you, except, oh yeah, that's right, your own people. How many other countries has this happened in, the bail-in?
Eight countries. So they literally can go into, electronically, they literally can go into your holdings and say, oh yeah, we're going to take $10,000 from every bank account, whatever it is, and then leave you a little note, a little IOU, in order to bail. Instead of them bailing out the companies, like we did in 2008, they bail-in, which means we do it. And this has happened. This has happened in eight other countries, like David said. And that's why, as things get worse, you have to be aware of this stuff, and you have to protect yourself, which is what we're going to talk about in the last segment.
But it's just really remarkable to watch all this, David. And were you surprised today when gold surpassed $2,000? My wife and I were talking about that on Friday.
I thought I was actually going to do it on Friday, so I wasn't really surprised. We're going to see higher gold prices this year. Nothing in any market is a get-rich-quick scheme. Don't expect that. Don't try and time the markets.
But I'd rather be two years too early than two days too late. Buy some gold and silver and diversify and get protected. All right, we're going to talk about all that when we come back, David. I'm going to put you on hold, talking to David Fisher from Landmark Capital, landmarkgold.com. Again, you want to find out about the bail-in.
Get yourself educated, okay? We'll be right back. Oh, here's a friend on Facebook.
Welcome back. It's Steve Noble and the Steve Noble Show, thestevenobleshow.com. By the way, the podcast is available on all the major podcast platforms, so you can get it anywhere you want. One station on the way to and from work raised their gas today from $3.89 a gallon to $4.19 a gallon in one day. That's 30 cents in one day. Is that gouging? Should you call Governor Cooper here, our wonderful Democrat governor here in North Carolina, and report them as price gouging? Well, when the market for oil is skyrocketing as quickly as it is, no, then they got to make a living too, and all this stuff flows downhill.
And who does it land on? If your household makes, I don't know, 70 grand a year or less, you're in big, big trouble. If you make between 70 and 100, you're gonna have to start making some tough decisions. You're gonna have to change. Thank you, Carla.
In one morning. And then, who doesn't care? The rich people, like Nancy Pelosi, who's worth over $100 million and lives in this unbelievable little neighborhood in San Francisco.
I just saw it recently with homeless people all over the place. You think she cares about homeless people? She doesn't. Flap your gums all you want, ma'am. But I'm gonna look at what you do, how you live, where your money goes, and then what you do with the national economy. And all you're doing right now is train wrecking it. You don't really care about anybody but yourself. And that's just the reality.
That's the truth. Talking to David Fisher today, a Full Money Monday. Great timing, David, as always.
Thank you so much. Yeah, thank you for having me. We're gonna see a lot of cause and effect going on here this year. We'll be talking about that and further times together. So help us understand, what can we do for ourselves?
And then I had one friend on Facebook Live is like, what happens here? What can the country do? I mean, for me, what I've studied, we've got about somewhere between $20 and $30 trillion in market value locked up in natural resources underneath our dirt and underneath our water offshore. We'd have to start going after that. We'd have to curb spending. Everybody's gonna suffer if the country's ever gonna right itself.
I don't even know if it's possible at this point. But what are your thoughts on what the country can do in the near term, like in the next 12 months to 10 years? Is there anything we could do from your perspective? And then what do we do as individuals to kind of shore up our own positions as we deal with all this stuff? And then, of course, with gold and silver, because it's a wild market right now.
Well, it's just kind of like that Jack Nicholson quote, you can't handle the truth. And so the country knows what it needs to do, but it's not going to do it because it goes against politics, right, and the agenda of the present administration. They should open up the Keystone Pipeline, like I said, and open up fracking, and that would drop oil 20 bucks to 30 bucks a barrel immediately, just by the announcement. And then once it gets in place, you will see oil back down to the $80 level and eventually back down into the 50s. And we'll probably make a lot of money as a country, we could take that and pay down the debt. But we got to stop our spending and the country's not going to do that no matter who gets in office. If President Trump runs and he wins, he's going to spend. He spent more than the previous president, but Biden's outperforming him and spending.
So this is an environment where our government has been since year 2000, no matter who's been president, and we need a complete repentance from this environment, but I don't see that happening. So here's what's happening short term. Russia more than likely is still going to continue to invade Ukraine and possibly other countries, because I don't think he's going to stop there personally. The government is going to continue to spend. They're not going to stop the spending machine. The Fed is going to continue selling or debt. Inflation is going to go higher. Interest rates are going to go higher. And in this environment, which creates massive uncertainty, it puts us in the long-term bull market for gold and silver. They're going to go higher in the short term and long term. And short term, you're going to see stocks recede more, possibly reel a lot more, and you might see a pullback in stocks as a bear market.
And we're very close to the technical side of that happening if we move into a full inflation, which I think, unfortunately, we will. And that's what the 70s did. From 1975, gold and silver went up 500% in gold. Silver went up 1,000%. I'm talking about indexes now. And stock by indexes, the Dow was only up 3% in a decade. So, this environment is a different environment.
That's why I'm saying it's really important to learn, get a packet, learn about this to see if it makes sense in being a steward of moving a portion of your money to precious metals if this continues, which I think is going to continue for five to ten more years. Yeah, and that's why, when you look at it, you've got to have a good mix. It's like having a good meal, right? You're going to have a bunch of different things on the table in order to have a good meal.
If all I ever serve you is steak for dinner or whatever it is, the main dish, and there's nothing else there, that's not going to work. So, in this case, I know people moving a lot into cash from their regular stock holdings, and then there's ways to make money in the stock market now, but this isn't your dad's stock market anymore. So, just to buy it and hold on to it and expect everything to go fine. No, it's harder to find the diamonds in the rough now, and then things like precious metal, gold and silver, and then your own debt situation, and then real estate if you can have any for most of us at your house. I think you really need to batten down the hatches here, because we're in a storm. There's no way to say it any other way.
This is like a perfect storm at this point. Yeah, trading money in the stock market is really difficult right now. I used to day trade, swing traded, swing traded, buy and hold.
Whatever you do right now, it's all those three things. Short term, long term, it's difficult unless you go way long term. So, that's why a lot of people are sitting in cash right now, because the news is changing the market. That's why you're seeing all this yo-yo effect. So, what is popular last week in stocks is not going to be popular this week. So, timing of it and predicting it is nearly impossible. Even the fund managers who do this for a living, they're having all kinds of challenges.
So, that's why the Scripture says a portion to seven, a portion to eight, because you do not know what tragedy may befall you. So, get some money in cash. Keep your real estate.
You've got to live somewhere. I'm not saying get out of stocks completely. I'm just saying minimize having all your money there, just like Steve Weiss at CNBC said two weeks ago. He was 50% in cash, and he's an advocate of the stock market. If he's saying it, boy, pay attention, and get some money in precious metals, because during the market correction of 2008, it was the number one asset class. If oil is black gold when oil went up in the 70s, gold went up in the 70s. We're in the same environment, same interest rate hike.
It's identical to the 70s. So, this is the time to be learning about precious metals. What percentage cash did you say he was in? 50%. Steve Weiss said two weeks ago on CNBC, he was 50% in cash. I don't know what he is today, but that's a big chunk of money.
That's a big chunk. Yeah, he's trying to find good stocks to buy, and that was his dilemma. He says, I can't find value stocks right now.
A lot of it's still overvalued, and that was when the market was a lot higher then. Yeah, and everybody out there, if you're not too sophisticated on this, whenever you hear some big player has put 50% or some significant chunk of his money in cash, just remember, you're on a sailboat, and you've got your big sails out there, but you know the storm's coming, so what do you do? You pull down your sails, because you can't get caught up in the wind. The prevailing wind's going to kill you. That's like pulling the boat into the harbor when you go to cash, and so that's what you've got to remember when you hear that.
And so in terms of education, David, walk us through a couple things that are available through what you guys are doing there at Landmark that people can start to understand what's happening here and understand some options. So cash is the worst place to put money long term, because the inflation is 7.5%. So this is why people are going to cash because of the market, but people are going to gold because it is the hedge against inflation. So having gold and silver, a portion of it in your portfolio will protect you and diversify you from a stock market crash, because while it crashes, gold and silver goes up, which was happening today since the beginning of the year. It will also protect that portion of your money from a bailout, because they can't seize gold and silver electronically because it's physical, but they can seize your stocks, bonds, mutual funds if they choose to do that. It also will protect you from inflation, or if the government defaults, they'll certainly protect you from that.
I don't think the government will default, but that's why it's imperative to just park some of your money in these different asset classes and don't try and get rich quick or time the markets. Just buy some things and hold it and put it away for a rainy day, and you'll find out you're glad you have that insurance policy. You have life insurance, you have health insurance, car insurance. Let's get some wealth insurance. That's what gold and silver does.
It protects your other assets and other markets. And FYI, for any of you that might be thinking, oh, crypto's the way. No, crypto's down big, too, right now. Bitcoin's at like 37, 38,000.
It was over 60,000 not that long ago. Ethereum, which is kind of the next big one underneath that, just today is down over 5%. So don't think that crypto's the answer, because it doesn't. It follows the market mostly. The Fed is, and the government's coming after cryptos, too, and they can walk that down because it's electronically. So that's not a good fix for this thing.
No, not at all. And it is nice, and I will tell everybody that I've done business with David for a while, and I wouldn't tell you guys, I wouldn't have anybody on the show that I wouldn't do business with myself. But when I'm looking at the stock market here recently, I know in a safe deposit box right down the street from my house that we have physical gold that the government can't touch and I know has gone up in value, and it does give me some peace of mind.
And so that's been a great blessing for us, David, to know that, and I thank you for helping me get educated as well. So what should people do? I know there's phone numbers and stuff, but how can people get more educated themselves? So they can go to the internet and look and research and do all that, or they can call our company and talk to one of our representatives.
There's no obligation, no pressure. Ask all the questions. Call our company at 844-604-2575 and get a packet. And then website? Landmarkgold.com This is Steve Noble on The Steve Noble Show. God willing, I'll talk to you again real soon. And like my dad always used to say, ever forward.
Whisper: medium.en / 2023-05-26 07:23:17 / 2023-05-26 07:39:58 / 17