Ever thought about owning a piece of history. Introducing the Newt Gingrich Contract with America Coin from Legacy Precious Metals. My limited edition silvercoin celebrates the historic Republican victory in nineteen ninety four, marking a turning point in American politics. Give a gift with real historical weight this season. Order now at Newt gingrichsilvercoin dot Com. That's Newt gingrichsilvercoin dot Com. On this episode of News World, but the Holidays coming up, the average American will spend nine hundred and seventy five dollars on presence this year. That's up by about one hundred dollars from last year. And while we're spending more this year, consumer credit card debt has reached a record high of one trillion, eighty billion dollars in twenty twenty three. We can attribute some of that debt to families trying to a ends meet during this past year of record inflation. As we look at in twenty twenty four, with the presidential primaries coming up soon, the state of the economy is one of the top issues on voters' minds. Today, we're going to discuss the economy and more and why it's so important to diversify your investment portfolio. So I'm really pleased to welcome back my guests. Charles Thorngren, founder and CEO of Legacy Precious Metals. Charles, welcome. Thank you for joining me again in Newts World and for sort of helping launch our discussion about the holiday season.

Ever thought about owning a piece of history. Introducing the Newt Gingrich Contract with America Coin from Legacy Precious Metals. My limited edition silvercoin celebrates the historic Republican victory in nineteen ninety four, marking a turning point in American politics. Give a gift with real historical weight this season. Order now at Newt gingrichsilvercoin dot Com. That's Newt gingrichsilvercoin dot Com. On this episode of News World, but the Holidays coming up, the average American will spend nine hundred and seventy five dollars on presence this year. That's up by about one hundred dollars from last year. And while we're spending more this year, consumer credit card debt has reached a record high of one trillion, eighty billion dollars in twenty twenty three. We can attribute some of that debt to families trying to a ends meet during this past year of record inflation. As we look at in twenty twenty four, with the presidential primaries coming up soon, the state of the economy is one of the top issues on voters' minds. Today, we're going to discuss the economy and more and why it's so important to diversify your investment portfolio. So I'm really pleased to welcome back my guests. Charles Thorngren, founder and CEO of Legacy Precious Metals. Charles, welcome. Thank you for joining me again in Newts World and for sort of helping launch our discussion about the holiday season.

Oh, thank you. It's always a pleasure to be here. Thank you for having me.

Oh, thank you. It's always a pleasure to be here. Thank you for having me.

You know, I thought we might start with JP Morgan Chase, CEO Jamie Diamond's remarks from the New York Times Deal Book Summit on November twenty ninth, and he's talking with Andrew Sorkin of CNBC.

You know, I thought we might start with JP Morgan Chase, CEO Jamie Diamond's remarks from the New York Times Deal Book Summit on November twenty ninth, and he's talking with Andrew Sorkin of CNBC.

Say, well, corporate profits are up.

Say, well, corporate profits are up.

This is up.

This is up.

Yeah, corporate profits up because people are spending a lot of money where they get the money the government gave it to them. Well, of course profits are up. You know, when they stop spending money, corporate profits will go down. So I'm a little worried that we're in that little bit of sugar high and we don't understand it.

Yeah, corporate profits up because people are spending a lot of money where they get the money the government gave it to them. Well, of course profits are up. You know, when they stop spending money, corporate profits will go down. So I'm a little worried that we're in that little bit of sugar high and we don't understand it.

What do you think about the sugar high reference? And how do you see the economy.

What do you think about the sugar high reference? And how do you see the economy.

It's a perfect analogy. And leave it to Jamie Diamond to kind of break it down the way people can understand. When you have that much free money in an economy, it gets spent, and it doesn't get spent wisely, and it doesn't get spent efficiently, and you run into the situation to where now we are dealing with that supply being gone. So how do these corporations who have been able to run basically on free money now cut back and actually try to operate on a normal budgeting schedule under normal account terms. And that's where the difficulty comes from, because they're not going to be able to make that transition. On top of a time when that money disappears and the economy startings to titan we're going to run into that recession on top of these companies having to come off of all of that free money. So you're going to not only see the profitability go down, but you're going to see it really shutter some of the smaller companies that aren't able to manage that kind of transition. That's the thing that I'm worried about the most.

It's a perfect analogy. And leave it to Jamie Diamond to kind of break it down the way people can understand. When you have that much free money in an economy, it gets spent, and it doesn't get spent wisely, and it doesn't get spent efficiently, and you run into the situation to where now we are dealing with that supply being gone. So how do these corporations who have been able to run basically on free money now cut back and actually try to operate on a normal budgeting schedule under normal account terms. And that's where the difficulty comes from, because they're not going to be able to make that transition. On top of a time when that money disappears and the economy startings to titan we're going to run into that recession on top of these companies having to come off of all of that free money. So you're going to not only see the profitability go down, but you're going to see it really shutter some of the smaller companies that aren't able to manage that kind of transition. That's the thing that I'm worried about the most.

So you think there could be a genuine credit squeeze as they bring down.

So you think there could be a genuine credit squeeze as they bring down.

The liquidity, Absolutely, I think they'll have to be because as the money is less prevalent flowing to the banks. They now have to safeguard their investments. They're not as free, so that helps to create that credit squeeze that we're going to see. Are you qualified for it? Am I willing to take the risk on your company? And we're going to see that be a resounding no.

The liquidity, Absolutely, I think they'll have to be because as the money is less prevalent flowing to the banks. They now have to safeguard their investments. They're not as free, so that helps to create that credit squeeze that we're going to see. Are you qualified for it? Am I willing to take the risk on your company? And we're going to see that be a resounding no.

So you know, the next Federal Reserve meeting is going to be held December twelfth and thirteenth. The last meeting was held October thirty first and November first, and the previous meeting notes, which were released in November first, it says, quote recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remained strong, and the unemployment rate has remained low. Inflation remains elevated. Now it seems to me that it's possible that they're saying that they have not actually quite brought inflation under control. What do you think the Fed's going to do?

So you know, the next Federal Reserve meeting is going to be held December twelfth and thirteenth. The last meeting was held October thirty first and November first, and the previous meeting notes, which were released in November first, it says, quote recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remained strong, and the unemployment rate has remained low. Inflation remains elevated. Now it seems to me that it's possible that they're saying that they have not actually quite brought inflation under control. What do you think the Fed's going to do?

I know what they should do, but will they do that? That's the question. And inflation isn't under control yet, just because we've had a couple of good months where we haven't seen increases, it doesn't mean inflation's gone. We're still dealing with a number much higher than we like to run through our program. The FED has always said want two percent. We're nowhere close. Because it's come down a little bit doesn't mean that things are fixed. And when you say things like the unemployment rate has remained low, that's part of that equation too. The FED has come out and Shaman Palace said it many times, they were tasked with not just inflation but keeping employment high. So those two things are hard to do. When you begin to go through a runaway inflation every period. The typical way to slow that down is to increase the rate interest rates, but it's also to let less money in the system so people aren't freely spending. It's very difficult to say we want full employment and we want to bring inflation down.

I know what they should do, but will they do that? That's the question. And inflation isn't under control yet, just because we've had a couple of good months where we haven't seen increases, it doesn't mean inflation's gone. We're still dealing with a number much higher than we like to run through our program. The FED has always said want two percent. We're nowhere close. Because it's come down a little bit doesn't mean that things are fixed. And when you say things like the unemployment rate has remained low, that's part of that equation too. The FED has come out and Shaman Palace said it many times, they were tasked with not just inflation but keeping employment high. So those two things are hard to do. When you begin to go through a runaway inflation every period. The typical way to slow that down is to increase the rate interest rates, but it's also to let less money in the system so people aren't freely spending. It's very difficult to say we want full employment and we want to bring inflation down.

In that sense. The Humphrey Hawkins Act, which created that dual assignment, is probably a mistake because is the Fed's job to protect the value of the dollar and seek price stability, or is the Fed's job to maximize economic growth and jobs even at the cost of inflation and prices instability? And it seems to me that they're constantly zigzagging back and forth trying to meet two very very different assignments.

In that sense. The Humphrey Hawkins Act, which created that dual assignment, is probably a mistake because is the Fed's job to protect the value of the dollar and seek price stability, or is the Fed's job to maximize economic growth and jobs even at the cost of inflation and prices instability? And it seems to me that they're constantly zigzagging back and forth trying to meet two very very different assignments.

Absolutely, either one of those is difficult enough to manage by itself. But this comes into big government. Big government trying to dictate more and more of people's lives, and part of that is trying to dictate the way business operates as well. We know that as a country, we run better when the government's less involved in the day to day and that's where it gets fuzzy. And that's why that act really didn't get the attention that it should have, because it was clearly the government saying we want the Federal Reserve to start monitoring business activity. We want them to be involved in the business cycle in ways that they've never been before and that they shouldn't be.

Absolutely, either one of those is difficult enough to manage by itself. But this comes into big government. Big government trying to dictate more and more of people's lives, and part of that is trying to dictate the way business operates as well. We know that as a country, we run better when the government's less involved in the day to day and that's where it gets fuzzy. And that's why that act really didn't get the attention that it should have, because it was clearly the government saying we want the Federal Reserve to start monitoring business activity. We want them to be involved in the business cycle in ways that they've never been before and that they shouldn't be.

When you look at all of this, how much we be concerned that you could have a dual crunch where people are already deeply in debt and now jobs start to tighten up and the Fed starts to tighten up on the money supply. Couldn't that lead to a significant problem in terms of people's ability to sustain their debt.

When you look at all of this, how much we be concerned that you could have a dual crunch where people are already deeply in debt and now jobs start to tighten up and the Fed starts to tighten up on the money supply. Couldn't that lead to a significant problem in terms of people's ability to sustain their debt.

Absolutely, and typically you don't see that credit card rush until you're deep into the recession already or on the way out. And I've always looked at as kind of a leading indicator that the recession is working its way through the issue. Having it before the recession is fully felt and called out means that we're starting way behind already. And the thing that worries me tremendously about that is that is how people are surviving now. But it's also going to lead to the next crisis that we see that will come up in housing, because that credit card won't be there to save people when the race get crazy and housing becomes a bigger issue, which is all part of that cycle. And I know we look at how and say, well, interest rates are kind of coming down, won't that save that? That only saves that if the employment stays up. But we know what happens when the recession comes, when this contradiction happens in the economy, that jobs will go away, so people won't have that fallback, that safety money. And this is part of the cycle of Americans not really saving like they should, and that credit card number being so high is an indication of that the savings weren't there. They had to go to borrow money to survive.

Absolutely, and typically you don't see that credit card rush until you're deep into the recession already or on the way out. And I've always looked at as kind of a leading indicator that the recession is working its way through the issue. Having it before the recession is fully felt and called out means that we're starting way behind already. And the thing that worries me tremendously about that is that is how people are surviving now. But it's also going to lead to the next crisis that we see that will come up in housing, because that credit card won't be there to save people when the race get crazy and housing becomes a bigger issue, which is all part of that cycle. And I know we look at how and say, well, interest rates are kind of coming down, won't that save that? That only saves that if the employment stays up. But we know what happens when the recession comes, when this contradiction happens in the economy, that jobs will go away, so people won't have that fallback, that safety money. And this is part of the cycle of Americans not really saving like they should, and that credit card number being so high is an indication of that the savings weren't there. They had to go to borrow money to survive.

With the rise in the interest rates leading to much more expensive mortgages than we've seen in the last ten or twelve years, then the price of housing has begun to come down because people literally can't afford to buy the house they used to want to buy because they can't afford the mortgage. Does all that suggest to you that there's going to be a tightening up of the housing market.

With the rise in the interest rates leading to much more expensive mortgages than we've seen in the last ten or twelve years, then the price of housing has begun to come down because people literally can't afford to buy the house they used to want to buy because they can't afford the mortgage. Does all that suggest to you that there's going to be a tightening up of the housing market.

I believe so. We see it throughout history. When you have these elevations and interest rates, the price of houses get so out of whack to what the average person makes, it leaves you in a unique situation. And we saw this in the last housing collapse that we had in two thousand and eight and nine and through twenty eleven. The bad part is that with the market being so upside down and houses being so expensive, when they begin to lose value, who takes that loss. The last time we dealt with it, you had people giving back their homes to the banks, and that led to a bank crisis because now they have all of this unsold property on their hands, and banks are not in the business of property, they're in the business of loans. So holding real estate, the actual physical property, having the bank own. It leads to a very troubling incident on their balance sheet. They now have a physical property instead of a loan. How do you value that property, how do you manage that property? It turns into a very vicious cycle. And we saw that, so, you know, looking ahead, that's something to be concerned about. What does the housing market do on top of everything else that's going on, You know, this is that leading problem.

I believe so. We see it throughout history. When you have these elevations and interest rates, the price of houses get so out of whack to what the average person makes, it leaves you in a unique situation. And we saw this in the last housing collapse that we had in two thousand and eight and nine and through twenty eleven. The bad part is that with the market being so upside down and houses being so expensive, when they begin to lose value, who takes that loss. The last time we dealt with it, you had people giving back their homes to the banks, and that led to a bank crisis because now they have all of this unsold property on their hands, and banks are not in the business of property, they're in the business of loans. So holding real estate, the actual physical property, having the bank own. It leads to a very troubling incident on their balance sheet. They now have a physical property instead of a loan. How do you value that property, how do you manage that property? It turns into a very vicious cycle. And we saw that, so, you know, looking ahead, that's something to be concerned about. What does the housing market do on top of everything else that's going on, You know, this is that leading problem.

One of the things I'm proud of stof was that when I was Speaker, we balance the budget for four consecutive years for the only time in your lifetime, and we actually were in the process of paying down the national debt when I left office. And I noticed that in a recent Yahoo financed Hipsos poll done in October, two thirds of the voters sixty six percent believe the national debt has become a major problem with threatens the economy. Eighty eight percent of Republicans, forty four percent of Democrats, and sixty seven percent of independence believe that. I mean that strikes me as a healthy shift of people begin to realize that all of that's borrowing, both by individuals but also by their own government, is in fact dangerous, and that we had to move back towards a balanced budget. Does that sort of fit your values?

One of the things I'm proud of stof was that when I was Speaker, we balance the budget for four consecutive years for the only time in your lifetime, and we actually were in the process of paying down the national debt when I left office. And I noticed that in a recent Yahoo financed Hipsos poll done in October, two thirds of the voters sixty six percent believe the national debt has become a major problem with threatens the economy. Eighty eight percent of Republicans, forty four percent of Democrats, and sixty seven percent of independence believe that. I mean that strikes me as a healthy shift of people begin to realize that all of that's borrowing, both by individuals but also by their own government, is in fact dangerous, and that we had to move back towards a balanced budget. Does that sort of fit your values?

Absolutely? And this is kind of a key tenant to what we believe as a company is to protect yourself because this kind of debt and this kind of runaway spending by the government puts everything at risk. And when we look at what we do with precious metals, that is that hedge against that. So this is why we tell people, when you see these kind of things happening, you want to make sure you're protected. You understand how difficult it is. Like you said, the last time we had a ballot budget, we have to go back to when you're helping run this country. So it's not easy to get out of that debt. And this debt we're in right now is exponentially bigger than what you had to deal with. So how long does that take to fix?

Absolutely? And this is kind of a key tenant to what we believe as a company is to protect yourself because this kind of debt and this kind of runaway spending by the government puts everything at risk. And when we look at what we do with precious metals, that is that hedge against that. So this is why we tell people, when you see these kind of things happening, you want to make sure you're protected. You understand how difficult it is. Like you said, the last time we had a ballot budget, we have to go back to when you're helping run this country. So it's not easy to get out of that debt. And this debt we're in right now is exponentially bigger than what you had to deal with. So how long does that take to fix?

This is the.

This is the.

Things that we begin to worry about it as Americans, But no one's talking about how it's going to be fixed. There's going to be pain points. That's the only way it works. And we have to say we as Americans, we're going to vote into people who will do the things that we need get the job done. And we will go through the pain to write the ship, because that's what it's going to take everyone involved.

Things that we begin to worry about it as Americans, But no one's talking about how it's going to be fixed. There's going to be pain points. That's the only way it works. And we have to say we as Americans, we're going to vote into people who will do the things that we need get the job done. And we will go through the pain to write the ship, because that's what it's going to take everyone involved.

Throughout history, there are clearer moments that define our nation's path, and now you can own a piece of that history. I am thrilled to announce the Newt Gingrich Contract with America Coin from Legacy Precious Metals. My limited edition one ounce silver coin commemorates the historic victory in nineteen ninety four when the Republican Party under my leadership took control of Congress. The Newt Gingriish Contract with America Coin also symbolizes the transformative political platform that led to landmark achievements like the overhaul of the welfare system and the Balanced Budget Act. This holiday season, give the gift of history. The Newt Gingrich Contract with America Coin is more than an investment, is a tribute to honest government and to America. Available to order right now by calling a six six four eight four for zero four to three. That's eight sixty six four eight four for zero four to three, or order online at nutgingrishsilvercoin dot com. That's Newt gingrichsilvercoin dot com. One of the signals that people are worried about the future, and that people don't feel very comfortable with the current monetary policy. The price of gold reached an all time record high on Sunday, December third, at twenty one hundred dollars an ounce. Now fell bound a little bit the next day. But when you start getting up in that spot gold level of twenty one hundred dollars an ounce, considering that as late as the late nineteen sixties it was thirty five dollars by law, that's really pretty dramatic indication of sort of a flight to safety and a fear about the future. I mean, would that be an accurate way to think about gold at time? Twenty one hundred dollars.

Throughout history, there are clearer moments that define our nation's path, and now you can own a piece of that history. I am thrilled to announce the Newt Gingrich Contract with America Coin from Legacy Precious Metals. My limited edition one ounce silver coin commemorates the historic victory in nineteen ninety four when the Republican Party under my leadership took control of Congress. The Newt Gingriish Contract with America Coin also symbolizes the transformative political platform that led to landmark achievements like the overhaul of the welfare system and the Balanced Budget Act. This holiday season, give the gift of history. The Newt Gingrich Contract with America Coin is more than an investment, is a tribute to honest government and to America. Available to order right now by calling a six six four eight four for zero four to three. That's eight sixty six four eight four for zero four to three, or order online at nutgingrishsilvercoin dot com. That's Newt gingrichsilvercoin dot com. One of the signals that people are worried about the future, and that people don't feel very comfortable with the current monetary policy. The price of gold reached an all time record high on Sunday, December third, at twenty one hundred dollars an ounce. Now fell bound a little bit the next day. But when you start getting up in that spot gold level of twenty one hundred dollars an ounce, considering that as late as the late nineteen sixties it was thirty five dollars by law, that's really pretty dramatic indication of sort of a flight to safety and a fear about the future. I mean, would that be an accurate way to think about gold at time? Twenty one hundred dollars.

It's very accurate because that is the job of gold, That is the job of silver. When you see those elevated prices, you want to understand there's a common thinking out there that, oh, it's at us all time high. It's true, you know it's up there in those elevated levels. But what we want to consider when we look at that is the value of that gold now compared to what it was when we had a balanced budget. Right, So it's moved up dramatically, but not near as much as our debt. Our debt is so significant that the increase in gold doesn't cover the amount of additional debt we need to service as a nation. So it does move in those reasons, and it is why it has moved up. That's correct, But it has a lot further to go based on what it's going to take to fix this economy. And that's the thing people want to keep in mind. It may seem expensive now, but it's nowhere near as expensive as it's going to be because we have trillions and trillions of dollars that need to be cleaned up in system. So it's really important to understand that. So, yeah, we're moving to safety, but remember we've just started. This market will be a market that lasts for many, many years. It could be more than a decade before we see it begin to pull back with any real strength, because it's going to take some time to fix the scenarios that we're living in right now.

It's very accurate because that is the job of gold, That is the job of silver. When you see those elevated prices, you want to understand there's a common thinking out there that, oh, it's at us all time high. It's true, you know it's up there in those elevated levels. But what we want to consider when we look at that is the value of that gold now compared to what it was when we had a balanced budget. Right, So it's moved up dramatically, but not near as much as our debt. Our debt is so significant that the increase in gold doesn't cover the amount of additional debt we need to service as a nation. So it does move in those reasons, and it is why it has moved up. That's correct, But it has a lot further to go based on what it's going to take to fix this economy. And that's the thing people want to keep in mind. It may seem expensive now, but it's nowhere near as expensive as it's going to be because we have trillions and trillions of dollars that need to be cleaned up in system. So it's really important to understand that. So, yeah, we're moving to safety, but remember we've just started. This market will be a market that lasts for many, many years. It could be more than a decade before we see it begin to pull back with any real strength, because it's going to take some time to fix the scenarios that we're living in right now.

I recently ran across the fact which I didn't know that Congress by law when they went off the thirty five dollars per round standard day by law set in I think it's a forty two or forty three dollars standard per rounds, and we still score all of the gold owned by the federal government at forty three dollars, even though on the market it's now around twenty one hundred. And the US government owns a pretty good bit of gold, which if you then valued it back up to twenty one hundred, is a very significant amount of money that could be used to offset a variety of things. People tend to look at gold, and I know every time we've talked you also think there's a significant role for silver, and the silver is going to play a big part of the future. Could you talk about how you think about gold and silver together.

I recently ran across the fact which I didn't know that Congress by law when they went off the thirty five dollars per round standard day by law set in I think it's a forty two or forty three dollars standard per rounds, and we still score all of the gold owned by the federal government at forty three dollars, even though on the market it's now around twenty one hundred. And the US government owns a pretty good bit of gold, which if you then valued it back up to twenty one hundred, is a very significant amount of money that could be used to offset a variety of things. People tend to look at gold, and I know every time we've talked you also think there's a significant role for silver, and the silver is going to play a big part of the future. Could you talk about how you think about gold and silver together.

Gold and silver, To put it in simple terms, it's peanut, butter and jelly. They belong together. They're made for each other. Right, Gold has that allure, It has the higher price per ounce. So when you're dealing in transactions of larger dollar amounts, gold makes a lot of sense just because of the storage requirements needed. When you start dealing in millions of dollars of the metals, you know, a million dollars of gold can be stored in a shoe box. A million dollars in silver, we're going to take over your entire garage. Okay, So from that point of view, you'll see why large institutions and banks and central banks talk about gold and not silver necessarily. But we as average people should be looking at silver because it is so undervalued. It's affordable. If you look at standard pricing and standard pricing ratios, silver right now should be much closer to seventy dollars an ounce than the twenty two to twenty three dollars an ounce that it is now. That valuation is important because that will eventually catch up. We have to look at silver for very specific things. And you know we're talking an electric world now, right. None of that happens without silver. Silver is so vital to all of these green technologies and every solar panel and all these electric vehicles, and transferring away from fossil fuels takes a lot of silver. It takes other elements as well, but silver is definitely one of them. And every electronic instrument you own, and every phone and every device that has silver in it. So not only do you have the economic factors for silver, you have the industrial factors for silver. If you're not sure if you should be buying silver, I don't say this often, but I'm going to say this, Trust me, you should absolutely be buying silver. You will thank me in a couple of years when you see what silver does because it has no choice but to move up dramatically.

Gold and silver, To put it in simple terms, it's peanut, butter and jelly. They belong together. They're made for each other. Right, Gold has that allure, It has the higher price per ounce. So when you're dealing in transactions of larger dollar amounts, gold makes a lot of sense just because of the storage requirements needed. When you start dealing in millions of dollars of the metals, you know, a million dollars of gold can be stored in a shoe box. A million dollars in silver, we're going to take over your entire garage. Okay, So from that point of view, you'll see why large institutions and banks and central banks talk about gold and not silver necessarily. But we as average people should be looking at silver because it is so undervalued. It's affordable. If you look at standard pricing and standard pricing ratios, silver right now should be much closer to seventy dollars an ounce than the twenty two to twenty three dollars an ounce that it is now. That valuation is important because that will eventually catch up. We have to look at silver for very specific things. And you know we're talking an electric world now, right. None of that happens without silver. Silver is so vital to all of these green technologies and every solar panel and all these electric vehicles, and transferring away from fossil fuels takes a lot of silver. It takes other elements as well, but silver is definitely one of them. And every electronic instrument you own, and every phone and every device that has silver in it. So not only do you have the economic factors for silver, you have the industrial factors for silver. If you're not sure if you should be buying silver, I don't say this often, but I'm going to say this, Trust me, you should absolutely be buying silver. You will thank me in a couple of years when you see what silver does because it has no choice but to move up dramatically.

From your standpoint, I guess because silver is much more intensely used as an industrial metal than gold is, there's a much bigger potential demand in the market. Just at a practical level. You see that as a significant long term.

From your standpoint, I guess because silver is much more intensely used as an industrial metal than gold is, there's a much bigger potential demand in the market. Just at a practical level. You see that as a significant long term.

Play absolutely, because we're not becoming less advanced in technology. It seems like every year we become more and more dependent on our device, on technology, on an instrument to do things for us, and every one of those devices is using silver in some form or fashion. So when you look at that and you realize that like cars, for instance, they're using substantially more silver now than they have in the past. Every car has a computer, most of them have some form of electric equivalent to it. That's all silver, and a lot of that doesn't get refined and come out and get recycled. So that's a big issue. It's a scenario to where the demand on silver is so great because of the multiple streams of value to it, that it's going to have to move up dramatically. It has no choice.

Play absolutely, because we're not becoming less advanced in technology. It seems like every year we become more and more dependent on our device, on technology, on an instrument to do things for us, and every one of those devices is using silver in some form or fashion. So when you look at that and you realize that like cars, for instance, they're using substantially more silver now than they have in the past. Every car has a computer, most of them have some form of electric equivalent to it. That's all silver, and a lot of that doesn't get refined and come out and get recycled. So that's a big issue. It's a scenario to where the demand on silver is so great because of the multiple streams of value to it, that it's going to have to move up dramatically. It has no choice.

I thought it was such a clever thing to talk about peanut butter and jelly and relate them to gold and silver. I've decided to add in that platinum could be the marshmallow of anybody who's ever had a marshmallow and peanut butter and jelly sandwich. We don't talk much about platinum. Why is that right?

I thought it was such a clever thing to talk about peanut butter and jelly and relate them to gold and silver. I've decided to add in that platinum could be the marshmallow of anybody who's ever had a marshmallow and peanut butter and jelly sandwich. We don't talk much about platinum. Why is that right?

Platum it's a great metal too. The reason we don't talk about platinum as much is when currencies were being created around the world and we began a lot of trade throughout the world, it was gold and silver. There wasn't a platinum that was recognized, so it was never really established as a currency. Whereas gold and silver have always been a currency. They were currency long before they were jewelry per se, Right, so the world thinks in those terms. And platinum it's a much more difficult precious metal to deal with. To refine, it takes a lot more effort, a lot higher heat. The applications that it has. It has some graded applications and used to be in every catalytic converter there was platinum, but then it got too expensive and the cars got better, so they didn't need it as much, so it moved into the world of health where they use it on a lot of devices that go intravenously. They have tips for all of these capeters and things, and a lot of it's used there. So as important as it is, it just doesn't have the demand and it's not recognized as a currency yet. It probably never will be because it's so difficult to deal with recycling. It is almost impossible because of the high heats that are required. It makes it very cost and effective to do.

Platum it's a great metal too. The reason we don't talk about platinum as much is when currencies were being created around the world and we began a lot of trade throughout the world, it was gold and silver. There wasn't a platinum that was recognized, so it was never really established as a currency. Whereas gold and silver have always been a currency. They were currency long before they were jewelry per se, Right, so the world thinks in those terms. And platinum it's a much more difficult precious metal to deal with. To refine, it takes a lot more effort, a lot higher heat. The applications that it has. It has some graded applications and used to be in every catalytic converter there was platinum, but then it got too expensive and the cars got better, so they didn't need it as much, so it moved into the world of health where they use it on a lot of devices that go intravenously. They have tips for all of these capeters and things, and a lot of it's used there. So as important as it is, it just doesn't have the demand and it's not recognized as a currency yet. It probably never will be because it's so difficult to deal with recycling. It is almost impossible because of the high heats that are required. It makes it very cost and effective to do.

So.

So.

This is why while platinum is a great metal to invest in, it's a great way to diversify in your metal portfolio. It shouldn't be the one to punch that gold and silver are. It shouldn't be looked at. But you want to make sure that you focus on your gold in your silver first, and then if there's additional funds, you look at the platinum.

This is why while platinum is a great metal to invest in, it's a great way to diversify in your metal portfolio. It shouldn't be the one to punch that gold and silver are. It shouldn't be looked at. But you want to make sure that you focus on your gold in your silver first, and then if there's additional funds, you look at the platinum.

This is sufficiently complicated. I think it's important for people to realize that one of the major purposes at Legacy Precious Metals is to simply help people think through their investment portfolio and think through the different ways in which they could move forward. Could you talk a little bit about how you approach dealing with people at legacy precious medals and how you try to organize the information for them in a way that is to their advantage.

This is sufficiently complicated. I think it's important for people to realize that one of the major purposes at Legacy Precious Metals is to simply help people think through their investment portfolio and think through the different ways in which they could move forward. Could you talk a little bit about how you approach dealing with people at legacy precious medals and how you try to organize the information for them in a way that is to their advantage.

We want to help people protect themselves from what's going on in the world, and everyone has a different variation of what they need, so there is no one size fits all, and that's important and it's good right because each person has their own individual need. What we want to be able to do is spend some time with you, talk with you, give you some information. Let's figure out what situation you're in so that we can begin to talk about it scenario that would work for each person, because not everyone has the same needs. Retirement dates different, How much money do you need to live on, how much are you giving to your heirs. There's so many different little nuances in each portfolio that it's important to know that the grand parameters are Metals are there for diversity. Gold and silver are for your protection. When you have a little bit more, you look at some platinum and things like that. That's your foundation, but everything on top of that is your home. That's where we tailor it to your specific needs so that your investment will accomplish what you need to have it accomplish. It will give you the protection you need, it'll give you the growth that you need in a way that works for you. And more importantly too, when you take all of that in there in a way that you understand that's important to us that you spend the time with us so that we can show you the options and that you understand what they're doing.

We want to help people protect themselves from what's going on in the world, and everyone has a different variation of what they need, so there is no one size fits all, and that's important and it's good right because each person has their own individual need. What we want to be able to do is spend some time with you, talk with you, give you some information. Let's figure out what situation you're in so that we can begin to talk about it scenario that would work for each person, because not everyone has the same needs. Retirement dates different, How much money do you need to live on, how much are you giving to your heirs. There's so many different little nuances in each portfolio that it's important to know that the grand parameters are Metals are there for diversity. Gold and silver are for your protection. When you have a little bit more, you look at some platinum and things like that. That's your foundation, but everything on top of that is your home. That's where we tailor it to your specific needs so that your investment will accomplish what you need to have it accomplish. It will give you the protection you need, it'll give you the growth that you need in a way that works for you. And more importantly too, when you take all of that in there in a way that you understand that's important to us that you spend the time with us so that we can show you the options and that you understand what they're doing.

Let's shore our listeners that you do have an entire customer information center that if they go to eight sixty six four eight four four to oh four three, and I'll repeat that, eight sixty six four eight four four to oh four three, that that's really an information center for people to be able to share what they're trying to accomplish and to ask the kind of questions about the precious metals market and about how it fits into a portfolio. And people can just do that without any kind of obligation or any kind of risk. Is that right?

Let's shore our listeners that you do have an entire customer information center that if they go to eight sixty six four eight four four to oh four three, and I'll repeat that, eight sixty six four eight four four to oh four three, that that's really an information center for people to be able to share what they're trying to accomplish and to ask the kind of questions about the precious metals market and about how it fits into a portfolio. And people can just do that without any kind of obligation or any kind of risk. Is that right?

Absolutely? And it's so important for people to know that we're not going to hound you. There's no high pressure sales tactics. We share information because that's what matters the most, getting the information that each person needs so that they can make an informed decision for themselves, and that's one of the great things about it. It makes us so different from everyone else out there in this industry. We're not just a bunch of salespeople on the phone. We take more of the role of as an advisor to show you what options are there, but more importantly to answer questions. Because again, if we can go back and have each individual understand why they've done what they've done, and why they're invested the way they're invested, it gives a peace of mind, because that's important. At the end of the day. You should be comfortable with what your investments are doing. If you don't know, that brings worry. We don't want people to be worried. Let's remove the fear from the investing and know that no matter what happens, you have a plan in place that gives you protection.

Absolutely? And it's so important for people to know that we're not going to hound you. There's no high pressure sales tactics. We share information because that's what matters the most, getting the information that each person needs so that they can make an informed decision for themselves, and that's one of the great things about it. It makes us so different from everyone else out there in this industry. We're not just a bunch of salespeople on the phone. We take more of the role of as an advisor to show you what options are there, but more importantly to answer questions. Because again, if we can go back and have each individual understand why they've done what they've done, and why they're invested the way they're invested, it gives a peace of mind, because that's important. At the end of the day. You should be comfortable with what your investments are doing. If you don't know, that brings worry. We don't want people to be worried. Let's remove the fear from the investing and know that no matter what happens, you have a plan in place that gives you protection.

That's important now as a part of that, one of the things that's always interesting is because you are dealing with physical commodities like gold or like silver, but people actually have I think interestingly diverse ways of dealing with it. Can you talk to us for a second about what the different options are. If somebody does want to go in and buy either gold or silver.

That's important now as a part of that, one of the things that's always interesting is because you are dealing with physical commodities like gold or like silver, but people actually have I think interestingly diverse ways of dealing with it. Can you talk to us for a second about what the different options are. If somebody does want to go in and buy either gold or silver.

In terms of having it delivered, absolutely, there's many ways. I'll touch on the three big ways. People can put metals in an IRA. That's either an IRA that you you have already and you want to transfer over and put metals into it. That's an IRA that you can set up. It could be an old four oh one K. If you're in the military or reserving a government, you have a TSP plan that can be moved as well. That's what we call retirement money, right, so that can be protected. But then you also have medals for home delivery if you'd like to have them in the house, that's available. If you'd like medals that aren't in an IRA, but you don't want to necessarily have them in the house you don't feel safe with them there, we can help you get a vault where your medals are stored. In a vault, you know they're safe. So we have everything available as far as precious metals goes for you to be able to either take delivery, have them stored, keep them in a qualified retirement account, many ways to deal with it, and we have all the options available. So it's important to know that you have those options because some people do want it at home and some people don't, and the ability to do both is an important thing, and we make that work for our customers so that they have that protection at all times. They don't feel comfortable with in the house. They don't have to worry about it. They know it's secured and it's safe, but they have that physical protection. They want it on hand, they want to take it out of cocktail parties and show everybody. They can do that too.

In terms of having it delivered, absolutely, there's many ways. I'll touch on the three big ways. People can put metals in an IRA. That's either an IRA that you you have already and you want to transfer over and put metals into it. That's an IRA that you can set up. It could be an old four oh one K. If you're in the military or reserving a government, you have a TSP plan that can be moved as well. That's what we call retirement money, right, so that can be protected. But then you also have medals for home delivery if you'd like to have them in the house, that's available. If you'd like medals that aren't in an IRA, but you don't want to necessarily have them in the house you don't feel safe with them there, we can help you get a vault where your medals are stored. In a vault, you know they're safe. So we have everything available as far as precious metals goes for you to be able to either take delivery, have them stored, keep them in a qualified retirement account, many ways to deal with it, and we have all the options available. So it's important to know that you have those options because some people do want it at home and some people don't, and the ability to do both is an important thing, and we make that work for our customers so that they have that protection at all times. They don't feel comfortable with in the house. They don't have to worry about it. They know it's secured and it's safe, but they have that physical protection. They want it on hand, they want to take it out of cocktail parties and show everybody. They can do that too.

But if they don't want to take it out and show it to everybody, Basically, you give them a certificate and you hold the metal in a secure place until they decide they want it. I mean, is that accurate?

But if they don't want to take it out and show it to everybody, Basically, you give them a certificate and you hold the metal in a secure place until they decide they want it. I mean, is that accurate?

Almost. What we do is we set up a vault that each customer owns a spot in that vault, so we help them set it up, but it's in their name, so they always have ultimate control. We help them do it absolutely, but more importantly, that's their metals in their vault space, so they have access to it whenever they need.

Almost. What we do is we set up a vault that each customer owns a spot in that vault, so we help them set it up, but it's in their name, so they always have ultimate control. We help them do it absolutely, but more importantly, that's their metals in their vault space, so they have access to it whenever they need.

I've always been a strong believer in the importance of resting wisely. That's why I've personally invested in Legacy Precious Medals At Legacy precious medals. They're not leaving your financial future to chance. They're in a mission to help you secure your financial future post retirement in partnership with them. I'm thrilled to announce the launch of the Newt Gingrich Contract with America Coin. This limited edition coin is made of one ounce of ninety nine point ninety nine percent fine silver, commemorating the historic moment when against all odds, we balance the budget for the last time in US history. This coin isn't just an investment, it's a piece of our nation's history and now you can own it. As the holiday season approaches, it's the perfect gift. You can purchase yours today by calling eight sixty six four eight four for zero four to three. That's eight six six four eight four for zero four to three, or order online at Newt gingrissilvercoin dot com. That's Newt gingrissilvercoin dot com. This being the Christmas season, we do have one piece of exciting news which developed which was a great surprise when you first talked to me about it. Why don't you just take them out and share with our customers here at Christmas time about this project that we have collaborated on.

I've always been a strong believer in the importance of resting wisely. That's why I've personally invested in Legacy Precious Medals At Legacy precious medals. They're not leaving your financial future to chance. They're in a mission to help you secure your financial future post retirement in partnership with them. I'm thrilled to announce the launch of the Newt Gingrich Contract with America Coin. This limited edition coin is made of one ounce of ninety nine point ninety nine percent fine silver, commemorating the historic moment when against all odds, we balance the budget for the last time in US history. This coin isn't just an investment, it's a piece of our nation's history and now you can own it. As the holiday season approaches, it's the perfect gift. You can purchase yours today by calling eight sixty six four eight four for zero four to three. That's eight six six four eight four for zero four to three, or order online at Newt gingrissilvercoin dot com. That's Newt gingrissilvercoin dot com. This being the Christmas season, we do have one piece of exciting news which developed which was a great surprise when you first talked to me about it. Why don't you just take them out and share with our customers here at Christmas time about this project that we have collaborated on.

Absolutely, I would love to. We've been talking a little bit now and we've gotten to great detail many times, and we've talked about what your term as Speaker did for the country and how balancing the budget was so important, and you know, it kind of struck me because this is what we're dealing with right now. We have all of these things that are not in the places they should be. We don't have a flow of the government the way that it should And I was thinking, remember back when, you know, when Newton was doing it, and Newt took the hard road and got everyone on board. You know, it wasn't just one side across the board, got everyone to say, let's focus on Americans for a minute. Let's give them what they need. And I said, you know what we should do. Let's talk with Newt. Let's create a new Gingridge coin. Let's celebrate that contract with America. Let's celebrate the fact that you went out there and did what the country needed and thought of the people first. And at first it just started as a little idea and I was talking with a development team. I'm thinking, I'd really like to do this. What do you think we should do it? And the answer was we should absolutely do it. Let's talk with Newt and see if he's on board. And I remember the shock when we brought it to you, and I think it took a little bit for you to have it sink in and realize that we were talking about putting you on a silver coin. I think you're a little shy about it at first, to be honest, but I think it came around and that was good, and we've got up with something I think is amazing.

Absolutely, I would love to. We've been talking a little bit now and we've gotten to great detail many times, and we've talked about what your term as Speaker did for the country and how balancing the budget was so important, and you know, it kind of struck me because this is what we're dealing with right now. We have all of these things that are not in the places they should be. We don't have a flow of the government the way that it should And I was thinking, remember back when, you know, when Newton was doing it, and Newt took the hard road and got everyone on board. You know, it wasn't just one side across the board, got everyone to say, let's focus on Americans for a minute. Let's give them what they need. And I said, you know what we should do. Let's talk with Newt. Let's create a new Gingridge coin. Let's celebrate that contract with America. Let's celebrate the fact that you went out there and did what the country needed and thought of the people first. And at first it just started as a little idea and I was talking with a development team. I'm thinking, I'd really like to do this. What do you think we should do it? And the answer was we should absolutely do it. Let's talk with Newt and see if he's on board. And I remember the shock when we brought it to you, and I think it took a little bit for you to have it sink in and realize that we were talking about putting you on a silver coin. I think you're a little shy about it at first, to be honest, but I think it came around and that was good, and we've got up with something I think is amazing.

What really sold me was the fact that one side of the coin. You actually managed to put the contract on one side of the coin, so it's really kind of a contract with America Coin with Newt Gingridge on it. I could live with that, And I think historically it's very cool because you know, it was the first time Republicans who had taken control in forty years. As I said earlier, it's the only time in our lifetime that we balanced the budget for four years. We did get welfare reform done, we did a lot of stuff like that, and so in that sense, I think it was a unique moment in history, and to have a truly unique silver coin to celebrate it and reflect it. I'm very touched I have to say when I saw the first coin that came out, I was pretty emotional because it's not something you ever think will happen in your lifetime. You guys did great, and it's available for order for Christmas and beyond at Nut gingrichsilvercoin dot Com. I can't tell you how much I am grateful to Legacy Precious Metals and to you Charles for having come up with it, persevered on it, talked me into it, and then I had no idea how many different complexities there were to actually casting a coin and how much artistry, and I mean a lot of stuff goes into a coin. So I'm very proud of the Nut Gingrid Silver Coin.

What really sold me was the fact that one side of the coin. You actually managed to put the contract on one side of the coin, so it's really kind of a contract with America Coin with Newt Gingridge on it. I could live with that, And I think historically it's very cool because you know, it was the first time Republicans who had taken control in forty years. As I said earlier, it's the only time in our lifetime that we balanced the budget for four years. We did get welfare reform done, we did a lot of stuff like that, and so in that sense, I think it was a unique moment in history, and to have a truly unique silver coin to celebrate it and reflect it. I'm very touched I have to say when I saw the first coin that came out, I was pretty emotional because it's not something you ever think will happen in your lifetime. You guys did great, and it's available for order for Christmas and beyond at Nut gingrichsilvercoin dot Com. I can't tell you how much I am grateful to Legacy Precious Metals and to you Charles for having come up with it, persevered on it, talked me into it, and then I had no idea how many different complexities there were to actually casting a coin and how much artistry, and I mean a lot of stuff goes into a coin. So I'm very proud of the Nut Gingrid Silver Coin.

I thought it was important in the memorialize the event. The contract with America was important. We still love your humbleness about it. You were a driving factor to make that happen. In my opinion, no new Gangridge in office, no contract with America. I know you'll disagree, so just allow me that levity there to say that.

I thought it was important in the memorialize the event. The contract with America was important. We still love your humbleness about it. You were a driving factor to make that happen. In my opinion, no new Gangridge in office, no contract with America. I know you'll disagree, so just allow me that levity there to say that.

You can say it, I won't, And I think it's important for the future of the country that we get back to the kind of positive, methodical reforms that actually work that we did in that period. So in that sense, the coin's a great reminder it has been done, it can be done, and we need to do it again in my judgment. And as I said, people can go to newganngrishsilvercoin dot com and they'll see what we're talking about. Charles, this holiday season, I want to thank you for joining me and for helping me, and for helping all of our listeners. You know, there's so much going on in the current economy and having somebody like you who has a long view and a very sophisticated view really does help us think about how to say for our retirement with a dow portfolio that includes precious metals like gold and silver, but also just your common sense approach I think is very comforting and very helpful, and I want our listeners to know if they want more information, they can call Charles and his team at Legacy Precious Medals directly at eight six six four eight four four oh four three. That's eight six six four eight four four oh four three, or visit by Legacygold dot com slash newt and Charles. I hope you have a wonderful holiday season, and I think this has just been a terrific conversation.

You can say it, I won't, And I think it's important for the future of the country that we get back to the kind of positive, methodical reforms that actually work that we did in that period. So in that sense, the coin's a great reminder it has been done, it can be done, and we need to do it again in my judgment. And as I said, people can go to newganngrishsilvercoin dot com and they'll see what we're talking about. Charles, this holiday season, I want to thank you for joining me and for helping me, and for helping all of our listeners. You know, there's so much going on in the current economy and having somebody like you who has a long view and a very sophisticated view really does help us think about how to say for our retirement with a dow portfolio that includes precious metals like gold and silver, but also just your common sense approach I think is very comforting and very helpful, and I want our listeners to know if they want more information, they can call Charles and his team at Legacy Precious Medals directly at eight six six four eight four four oh four three. That's eight six six four eight four four oh four three, or visit by Legacygold dot com slash newt and Charles. I hope you have a wonderful holiday season, and I think this has just been a terrific conversation.

Thank you, sir. I hope you have a wonderful holiday season as well. Enjoy the family, enjoy the rest, and thank you again so much for having us, and thank you for everything you do. We appreciate you.

Thank you, sir. I hope you have a wonderful holiday season as well. Enjoy the family, enjoy the rest, and thank you again so much for having us, and thank you for everything you do. We appreciate you.

Thank you to my guest, Charles Thornburn. You can learn more about Legacy Precious Medals at buy Legacygold dot com. Slash newt Newts World is produced by Gamelis Sweet sixty and iHeartMedia. Our executive producer is Guarnsey Slump. Our researcher is Rachel Peterson. The artwork for the show was created by Steve Penley. Special thanks to the team at Gingers three sixty. If you've been enjoying Newtsworld, I hope you'll go to Apple Podcast and both rate us with five stars and give us a review so others can learn what it's all about. Right now, listeners of Newtsworld can sign up from my three free weekly columns at gingrishree sixty dot com slash newsletter. I'm Newt Gingrich. This is Newtsworld, and this episode of Newsworld was brought to you by Legacy Precious Medals. Ever thought about owning a piece of history, Introducing the Newt Gingrich Contract with America Coin from Legacy Precious Medals. My limited edition silver coin celebrates it's the historic Republican victory in nineteen ninety four, marking a turning point in American politics. Give a gift with real historical weight this season. Order now at Newt gingrichsilvercoin dot com. That's Newt gingrichsilvercoin dot com.

Thank you to my guest, Charles Thornburn. You can learn more about Legacy Precious Medals at buy Legacygold dot com. Slash newt Newts World is produced by Gamelis Sweet sixty and iHeartMedia. Our executive producer is Guarnsey Slump. Our researcher is Rachel Peterson. The artwork for the show was created by Steve Penley. Special thanks to the team at Gingers three sixty. If you've been enjoying Newtsworld, I hope you'll go to Apple Podcast and both rate us with five stars and give us a review so others can learn what it's all about. Right now, listeners of Newtsworld can sign up from my three free weekly columns at gingrishree sixty dot com slash newsletter. I'm Newt Gingrich. This is Newtsworld, and this episode of Newsworld was brought to you by Legacy Precious Medals. Ever thought about owning a piece of history, Introducing the Newt Gingrich Contract with America Coin from Legacy Precious Medals. My limited edition silver coin celebrates it's the historic Republican victory in nineteen ninety four, marking a turning point in American politics. Give a gift with real historical weight this season. Order now at Newt gingrichsilvercoin dot com. That's Newt gingrichsilvercoin dot com.