Episode 13: U.S. Debt Hits $40 Trillion: Why Gold and Silver Matter | The Gold Show with Walt Philips

Transcript edited for clarity and readability.

Announcer

From the center of America's precious metals. This is The Gold Show your source for insight on safeguarding wealth and uncertain times. Hosted by Walt Philips and brought to you by Reagan Gold Group. We help educate Americans on physical gold and silver, and the role precious metals can play in a diversified retirement strategy. To learn more. Call (800) 700-2221 two or visit OwnRealGold.com. That's on real gold. Now here's your host, Walt Philips

Walt Philips

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Announcer

Welcome to The Gold Show. I am your host, Walt Philips, and this broadcast is brought to you by my good friends over at the Reagan Gold Group. And folks to I have a show planned for you today. But a quick reminder before we dive in. I am not a financial advisor. I am just a guy that studies these markets all day, every day so you don't have to.

Walt Philips

Everything I say is my personal opinion. Do your own research, folks. But before we get into what happened this week, because the market moves we are seeing right now are historic, and what Washington just did is going to impact every single person. Listening to the sound of my voice. I want you to do one thing right now and let's grab a pen. Write this number down on a piece of paper. 1-800-702-2212. Or you can go to OwnRealGold.com. Fill out a few simple questions, and somebody from the Reagan Gold Group will call you back immediately. Write it down 1-800-702-2212 or visit OwnRealGold.com. If you have an IRA, a 401(k), a tsp, or money just sitting in a bank account, write that number down.

We're going to come back to it. But what we're talking about today is going to show you why you cannot afford to sit on the sidelines for another week. Now, folks, I want to start today with some brutal honesty. Something happened this week that has never happened in the history of the United States of America. Two massive milestones hit the tape at the exact same time. One of them is a flashing red warning sign for anyone holding paper dollars, and the other is historic, life changing validation for the folks who took action and bought physical gold and silver. Headline number one, folks, the United States gross national debt officially blue past $40 trillion, folks, $40 trillion. Let that number settle in for a minute. 40 trillion is 40,000 billions, 40,000, billion.

And here's what should shock every single taxpayer in this country. The government's own Congressional Budget Office didn't project us hitting 40 trillion until late next year. We got there nearly six months early. Washington is adding new debt at a compounding rate of $8 billion every single day. That's $8 billion every 24 hours piled on top of the bill. The annualized interest payment alone to service that debt has now surpassed $1 trillion a year. Think about that. We're spending more money just paying the minimum finance charge on Uncle Sam's credit card than our entire annual national debt, national defense budget. More than the Army, the Navy, the Air Force and the Marine Corps combined. Now a headline number two, folks.

While the national debt was blowing through the $40 trillion ceiling gold surge to fresh all time highs of $4,650 an ounce, and silver is coiling right on the doorstep of $70, a little past $70. Now, ask yourself a common sense question. Do you think those two events happening in the exact same week as a coincidence? Of course it isn't. Gold and silver aren't moving higher because of a temporary speculative whim. They're moving higher because the paper dollar in your wallet, in your checking account, and in your retirement fund is losing its purchasing power at the fastest pace in modern history. Just this week, Reuters reported that foreign central banks and global institutional wealth managers are cutting their exposure to paper U. S. government debt at near record rates, and Bloomberg ran an analysis pointing out that cash sitting in commercial bank accounts is suffering permanent structural loss of purchasing power.

That is Wall Street's fancy way of saying one simple thing, folks, the dollar is eroding. And at the end, the biggest, smartest institutions in the world are quietly dumping paper promises to get their hands on real, tangible assets. If you were 60, 70, or 80 years old, you need to hear this loud and clear. Sitting around doing nothing is a financial decision at this point, leaving your hard earned life savings in cash or a low yielding bank account. While this $40 trillion debt bomb continues to compound is not playing it safe, folks, you're literally waiting yourself into a corner. You worked 40 or 50 years, you woke up early, you went to work, you paid your taxes, and you did everything you were supposed to do. A 30 year old kid who makes a bad financial call has 30 years of working life left to earn it back.

Maybe 40 years. You don't have that luxury when you're retired. Your margin for error is razor thin. Waiting on the sidelines isn't saving you money. It's costing you real purchasing power every single day. Now, folks, think back for a second to when you were starting out. Maybe you're 20 or 30. Think back to the 1960s or 70s. Those were simple times. You could take a $5 bill into the grocery store, walk out with two full paper bags of groceries, and still get changed back in your hand. A brand new Ford Mustang in 1965. I think it cost around 2500 to $3000. A good, solid family home cost $20,000. You saved your money in the local bank because back then the bank treated you with respect.

The teller knew your name, and a dollar saved was a dollar that actually held its value. That's what our parents taught us. That was the American playbook. Work hard. Put your cash in the bank by a CD and you will be safe. Now look at where we are today. You take that same $100 bill to the grocery store today, and you can barely fill the bottom of a plastic bag. You buy a gallon of milk, a dozen eggs, some chicken, and a box of cereal, and the cashier tells you it's $85. And you look at the receipt and disbelief, did the chicken get five times harder to raise? Did the milk get five times better? Of course not. The groceries didn't change. The paper money you're using to buy them was diluted.

And yet I talked to folks every single day who tell me, Walt, my money safe. I've got my life savings sitting in a bank certificate, a CD earning 2 or 3%. Now let's look at the at the cold hard math, folks. Did your homeowner's insurance only go up 2% this year? Did your car insurance, your electric bill, your gas bill, or your medical co-pays only go up 2%? You know the answer. Real world living expenses for retirees are climbing six, seven, 8% every single year. So if the bank is paying you 2% interest on your CD, but the real cost of keeping your lights on and putting food on your table is rising at 7 or 8%, you're losing 5 or 6% of your real wealth every 12 months.

You aren't making money. You're going broke. Quietly, safely, and politely. The commercial banks call that guaranteed security, and I call it a wealth trap. And while they hand you pennies on your savings, what is the bank do with your money? They turn right around and lend your life savings out to other borrowers at eight, nine, or 10% interest. They use your hard work to make massive corporate profits while your purchasing power shrinks in the background. And here's something else that you need to know. Because when gold and silver hit all time highs, the vultures come out of the woodwork. There are plenty of bad actors in the precious metals industry who try to take advantage of seniors.

They use high pressure tactics, fast talking scripts, and they push high commission gimmicks that eat away at your principle. The Reagan Gold Group prides themselves on being the good guys. They do business the right way. When you call the Reagan Gold Group, you get clear, transparent pricing and they never push high commission gimmicks, period. They treat you like family and they give you the straight facts, folks. That is why I am aligned with them. They help you protect what you spent a lifetime building. So folks, if you have a retirement savings sitting in an IRA, an old 401(k), a tsp, or cash sitting in a bank account that is losing purchasing power every day, pick up the phone right now. Call 1-800-702-2212. Again, folks, that's 1-800-702-2212.

Or you can visit OwnRealGold.com talk to a specialist at Reagan Gold Group. Real people answer the phone. Transparent pricing, zero pressure and zero gimmicks. Find out how you can roll over your retirement tax free, or make a direct cash purchase before paper assets erode another leg lower. Again, folks, that's 1-800-702-2212. Or you can go to OwnRealGold.com Now, folks, I want to show you the undeniable mathematical difference between holding paper currency and holding real, tangible, precious metals. And you're going to love this one, because when you look at the real numbers, it ends every single debate. So let's go back to 1971, and we talk about this a lot, folks. That was the year that President Nixon closed the gold window and took the dollar off the gold standard.

Let's say you took $10,000 in cash back in 1971, and you put it into a safety deposit box or a savings account. Right. $10,000 in 1971 was serious money. It was a massive nest egg. If you left that $10,000 in paper cash until today, 55 years later, what does it by you? It barely buys an economy car. The purchasing power was completely eaten alive. Now let's look at the other side. Let's say instead of paper dollars, you took that same $10,000 in 1971, and you bought physical gold at $35 an ounce, $10,000 bought you roughly 285oz of physical gold. Now, if you take those same 285oz of gold today at $4,650 an ounce, you're looking at over $1,300,000. Let that sink in. One decision, the exact same $10,000 one path left you with barely enough to buy a used car, and the other path created over $1.3 million in generational wealth.

That isn't a theory. That isn't a projection that already happened. The math is finished. Why does that happen? Because Washington can't stop diluting the money supply, folks, think of it like making a pot of homemade chicken soup, right? You have a rich, hearty pot of soup with real flavor. But every time unexpected guests show up and we all know about those unexpected guests, you just pour another gallon of plain water into the pot. You still have liquid in the pot, but the soup gets thinner, weaker, and completely loses its substance. And that's exactly what Washington is doing to the US dollar. When the national debt grows by $8 billion every single day, the government has to print more paper currency to keep the system moving. Every new dollar they create adds water to your soup.

The dollars in your wallet have the same faces on them, but they buy less food, less gas, and less electricity every single time you spend them. Now I want to talk about silver because if gold is the undisputed king of wealth preservation, silver is the coiled spring. It is the lag beast of the entire commodity cycle. Silver is widely recognized by resource analysts as one of the most undervalued physical assets on the planet. And folks, in my opinion, I could not agree more. And here is the physical reality that Wall Street doesn't talk about on television. We are currently in the sixth consecutive year of a global structural supply deficit in physical silver. Think about what that means. For six straight years, the world has consumed far more physical silver than global minds have pulled out of the earth.

Where is that silver going? It isn't just sitting in vaults, folks. It's being consumed by modern industry. We are currently living in the information age that is growing at a rapid pace. Every solar panel being installed on the grid requires physical silver. Every electric vehicle, every battery for that electric vehicle, every advanced medical device, every high speed data center running artificial intelligence in every cruise missile in our defense inventory that with all these wars we have going on, requires physical silver. And unlike gold, which is stored and hoarded, silver gets used up in industrial manufacturing and then it gets discarded. And here's the kicker, folks. Over 70% of the world's silver comes out of the ground as a byproduct of mining copper, zinc and lead. That means mining companies cannot just flip a switch and produce more silver. When demand spikes, the supply is physically constrained while industrial and monetary demand are exploding.

When you have a six year structural deficit, exploding industrial demand, and the national debt compounding at $8 billion a day, silver sitting near $70 is just getting started, folks. It's just the beginning. Silver, according to most analysts and even banks and I talk about this every week, is projected for a parabolic move. It has massive upside potential as the physical supply titans across the globe. So folks do not wait until gold is crossing $5000 or $6000, and silver is well into triple digits. To ask yourself why you didn't take action, folks, I was just here a month ago. Silver was in the 50s. Gold was at $4,100. That is how fast this moves. So I want you to move fast as well. Pick up the phone right now and call Reagan Gold Group again.

Folks. 1-800-702-2212. Or you can go to OwnRealGold.com. It takes five minutes to find out how simple it is to protect your savings. Whether you're looking to do a tax free rollover of an existing IRA 401 or TSP, or you want to make a direct cash by Reagan Gold Group walks you through the entire process with zero stress and zero high pressure sales tactics. Call 1-800-702-2212 or you can go to OwnRealGold.com. Now, folks, I want to pivot a second, and I want you to look at what the largest financial institutions on Earth are doing right now. While commercial banks tell everyday Americans to keep their money in savings accounts, earning 2%, the world's central banks, the very institutions that print the paper currency, are doing the exact opposite.

They're buying physical gold at the most aggressive pace in modern history. Again, folks, in modern history, the people's Bank of China has officially extended its gold accumulation streak to 21 consecutive months. Central banks across Europe, Asia, Latin America are systemically reducing their holdings of U. S. Treasury paper and replacing it with physical gold locked directly inside their sovereign vaults. Now ask yourself a common sense question why would the people who print paper money refuse to hold that very same paper money? Because they know exactly what the dollar is? They built the system. They understand the math of a $40 trillion debt mountain. They know that fiat currency always returns to its intrinsic value, which is zero. They're trading in paper promises for the only asset that has survived every empire, every war, every depression, and every government collapse for 5000 years.

Central banks are protecting their sovereign balance sheets with physical, precious metals. If the world's central bankers are doing that for their nations, why wouldn't you do that exact same thing for your family? I want to speak directly to the folks listening in their 60s, 70s, and 80s now, because this isn't about getting rich quick. This isn't about chasing hot tech stocks or gambling in the market. This is about defense. This is about making sure that the wealth you spent 40 or 50 years accumulating doesn't get quietly stolen by inflation and government deficits. Think about your family. Think about your kids and your grandkids. When you look down the road 5 or 10 years from now, do you want to be a financial rock and a source of strength for them?

Why do you want to be worried about whether your paper savings are going to survive your retirement? I hear from listeners every single week. Some of them heard this show six months ago when gold was at $4,000. They made the call, diversified their retirement into physical gold and silver. And today they have total peace of mind. And then I talked to the folks who waited. They call me and say, well, I've been listening to your show. And I knew in my gut that you've been right. I saw the prices going up at the grocery store, but I hesitated. I put off making the call, and now gold is at $4,650. Silver. Silver is at 70, and I feel like I'm falling behind. And you know what I tell them?

You haven't missed the move. But the window to protect yourself at these levels, folks, is closing fast. As long as Washington is compounding deficits by $8 billion a day, the underlying forces driving gold and silver higher are not stopping. Making this move is easier than you think. You pick up the phone. A real experience specialist at Reagan Gold Group answers. You tell them you listen to Walt Philips on the show, and if you have a 401 from a previous job, a traditional IRA, a Roth IRA or a TSB, they show you how to roll over that paper account directly into a self-directed precious metals IRA. It is done completely tax free and penalty free. Reagan Gold Group handles the paperwork from start to finish.

They with your old custodian and make sure the entire transfer is seamless. And if you want to make a direct cash purchase to keep physical metal in your own private custody, they handle that directly, discreetly, and securely as well. And if at the end of the call you decide it isn't for you, that's completely fine. Also, you hang up, you're under zero obligation and zero pressure, but you owe it to yourself and to your family to at least know your options. If you have an IRA, a 401 or a saving sitting in the bank, folks, don't let another week go by. Pick up the phone right now. Call that number 1-800-702-2212. Or you can go to OwnRealGold.com. Talk to a specialist, ask every question that's on your mind and get the facts. Now folks, the bottom line comes down to one fundamental choice you can trust paper currency issued by a government $40 trillion in debt, compounding deficits at $8 billion every single day.

Or you can trust real, tangible gold and silver that is preserved purchasing power through every crisis in human history, the largest central banks in the world have already made their move. Smart institutional investors have made their move. The choice is yours. Take control of your financial destiny, protect your family, and anchor your life's work in real money. Again, folks, call the Reagan Gold Group 1-800-702-2212 or you can visit Owen real Goal.com. Make that call, folks. Make today be that day. Tell them that you heard me on the radio. Get the information. Take control of your retirement. Worst case scenario, again, you hang up the phone, you have the information. Best case scenario, it could be the best call that you've ever made. Folks, I'm Walt Philips, and I don't want you to go anywhere in segment two.

As usual, I'm bringing Carl on the show. Who's the top precious metals expert at the Reagan Gold Group? And a personal friend of mine for over ten years. We're going to walk through the exact steps of setting up to a tax free physical metal rollover. And we're going to discuss everything that I just discussed with you here, folks. And we're going to get crawls opinion on it. We'll be right back on The Gold Show and I will see you soon. Welcome back to The Gold Show, folks. Once again, I am your host, Walsh Phillips, and this broadcast is brought to you by very good friends over at the Reagan Gold Group. Folks, quick reminder once again before we keep going. I'm not a financial advisor. I am just a guy who studies these markets all day, every day. So you don't have to.

And I'm here giving you the facts and my honest take. Everything I say is my personal opinion. If you are just tuning in or joining us in your car, let's take a minute to lay out the critical ground we covered in segment one, because the financial world shifted beneath our feet. This week, we are sitting at the intersection of two massive historical headlines. First, the United States national debt officially blue past $40 trillion. That is $40,000 billion. And here is what should terrify every saver. We weren't supposed to hit 40 trillion until next year. We crossed the line nearly six months ahead of schedule, with Washington burning through more than $1 trillion a year. Just paying the interest on this debt, folks.

Second, while the national debt exploded, gold surged past $4,650 an ounce, and silver is sitting right on the doorstep of $70. Those two events are directly connected. When the government prints $5 billion a day to stay afloat, paper dollars lose purchasing power, and physical gold and silver rise to reflect that reality. Leaving your retirement sitting in a 2% CD or cash is no longer safe, folks. It is a guaranteed way to lose wealth every single day. Now, folks, we're getting up to the favorite, my most favorite part of this show, and we are bringing on someone very special, as we do every single week. Joining me in the studio today is Carl. Carl is not only the top precious metals expert at Reagan Gold Group, but he's also a guy of known, trusted, and called the close personal friend.

For over ten years, Carl has guided thousands of everyday Americans every market cycle, helping them protect their life savings with physical bouillon. Carl, it is always a privilege to have you on the mic, brother. Welcome to The Gold Show. Hey. Well, thanks so much for having me. I'm happy to be back, as always. Absolutely, Carl. Folks, listen, before we jump into our first question for Carl. Grab that pen and write down the number once again. 1-800-702-2212. Or you can visit on Real Gold. If you want to speak with Carl's desk directly. Folks, you can do that. And again, that number is 1-800-702-2212. Make sure you keep it right in front of you Carl.

So in segment one I talked about the national debt crossing $40 trillion and how Washington is trapped, paying over $1 trillion a year on interest from your vantage point on, on over at your desk at Reagan, talking to everyday folks, managing orders across the nation every single day. What is your take on this 40 trillion milestone? And what's the physical market telling us right now, Carl? Well, I mean, first of all, what's the take at it? I mean, it's obscene, $40 trillion in debt. I mean, this is absolutely ridiculous. How did we get here? I mean, I can tell you how we got here. It's simple. Just frivolous spending and nobody being accountable for anything. I mean, listen, regular folks like us, we got to balance our checkbooks, you know, daily, if not weekly, and the government doesn't.

I mean, what's it going to do? I mean, this isn't going to be good for anybody. We're going to see some sort of repercussions come from this. I mean, you know, they say corrections are healthy and I believe they are. I don't think there's going to be a correction. I think we're going to see a crash like nobody's seen before. I mean, there's a lot of people talking about how this is going to be worse than 2008. And let me tell you, there's a lot of data out there to support that. You know, I mean, what's going on? I mean, listen, metals just probably had I'm going to guess probably one of the best weeks it's had in I don't know. Three, 4 or 5 quarters. A very long.

Time, you know. Yeah. I mean it's been quite a while. And, you know, you know, the past couple of weeks here, metals are really on the move and everybody should really take notice of it, you know not to. Oh well we're going to see what's going to happen. I mean no it's the trains leaving the station. Folks. Get on that train. Protect what you have. Karl, the people that are not at least looking right now seriously at gold and silver, literally, as you just said, the train is going to leave. And that collapse that you mentioned is a very real thing. There are a lot of the top analysts in this country right now are warning of a fiat collapse. We've passed that critical $40 trillion number.

And you know, I don't know about you call, but a dollar that is lost 97% of its value since inception, coupled with a $40 trillion debt, doesn't look like a safe bet to me. I'd rather bet on the Bad News Bears to win the World Series. So I'll take that. But I'll take that in a minute. I'll bet double that the Bad News Bears are going to win over that. I mean, I'm with you. You know, so you know, and again, you know, you hit it on the head crawl when people see that $40 trillion figure and realize that interest payments alone are eating up over $1 trillion a year. I mean, that illusion of paper stability has to be gone. Our listeners feel it every time they buy groceries or pay their insurance bills. The math doesn't work anymore. Carl and.

Yahoo, Yahoo Finance had an article out about a couple of months ago that by 2030, we're not going to our interest on the money we owe is going to be larger than our GDP. Yep. We're going to owe more in interest before we pay one single government employee, pay one program, pay by one missile by before we do anything. We have no money left. I mean, you could only rob Peter to pay Paul for so long. I mean, the house of cards is going to. It's got to collapse. I mean, it's got to fall. How can you do this?

And Carl, you mentioned last week. And this is another key point that when I even bring it up right now, but central banks that are running the global economy or dumping US debt to lock physical gold in their vaults, and everyday savers that are listening right now that are leaving their money in a bank account are taking all the risk, while Washington prints away their purchasing power. And the next great print is right around the corner. Right around the corner. I hit somebody. Tell me the other day. Sorry to interrupt you there. Cut you off, but I had to tell me the other day that his money safe in the bank because of the FDIC. I said all they're going to do is put more worthless paper. Yeah. Well, yeah, for he had no idea what that meant. But besides that I said, well, what is the what does that mean?

Well my money's safe. I go, yeah, but here's the problem. If, you know, $25,000 by a dedicated a corn, a half a tank of gas and a snail, a loaf of bread, who cares if the FDA if the sea backs it? I mean, all it is. I mean, nothing good is happening here right now, and people need to really wake up. I mean, I it's a scary times we're in and that we're living through because of the fact that I mean it just it either is a tremendous amount of uncertainty. And then the fact that I, it's just it's frustrating to listen to people weekly that call me and I talk to hundreds of people a week that are being deer in headlights.

You can't be a deer in headlights. Make a move, get out of the way. Do something about it. Meadows have been around for thousands of years. Stocks and bonds haven't. Neither of us dollars, folks. It's that simple. You need to have a physical asset, something that has real value. Because the paper we carry in our pocket is not money, it is fiat currency. If you don't know what that means. Google it. Yeah. And Karl, listen, I mean, you know, you know the just touching on that point. You know, we are in very uncertain times with the, you know, multiple wars going on. You know, just everything erupting within our government, you know, political battles. You know, Kevin Warsh is speaking, you know, and, you know, dropping more numbers about, inflation and everything like that.

And right now, our government is caught in a position where they cannot afford to inflate, and they also can't afford to print money. And metals are skyrocketing. Karl. Metals are skyrocketing. And, you know, I try to convey it every week as well as you. But if people can't see the writing on the wall right now, that right now is the time to be buying gold and silver and protecting yourself. I don't know what else will tell you, but you know, with that, Karl, I want to take a quick moment and tell the folks at home, if you folks are listening right now and any of this is resonating with you, anything that Karl is saying is resonating with you right now, and you've been waiting for a sign to take action.

As I just said, folks, this is it. Pick up the phone right now and call Reagan Gold Group 1-800-702-2212. Again, folks, that's 1-800-702-2212. Or you can visit OwnRealGold.com. Carl and his team are ready to walk you through your options with zero pressure, zero hassle, and complete transparency. The call is free. The information is free again, folks. That's 1-800-702-2212. Or you can go to OwnRealGold.com. All right folks. So I want to pivot a second. Carl I have my next question for you and Carl. There are folks listening right now on the radio that agree with everything that we're saying, but they're hesitating. They see gold at 46, 40, $650. They see silver knocking on 70, even getting past 70 a little bit. And they tell themselves, maybe I should still wait for a pullback before I call. What is the real danger of sitting on the sidelines, Carl, in a runaway metals market like this?

Well, I mean, first of all, there's first of all, there's going to be a supply and demand issue. So you know, I mean, if it gets to a point where it was, you know, a few years ago, you're going to be lucky to get your hands on any metals, let alone what you really want. That's first off. Second of all, what are you waiting for?

Right. Do you want to react to something and then wait for your account to go down and metals to go up more in a cost you more money to buy the gold and the silver. I mean, people that I talked to don't want to do that. They want to be proactive, not reactive. So they're calling in to do that, to be proactive to the situation and be able to say, hey, listen, I'm going to put myself in a position where I'm safe and I could sit back and watch the show as it unfolds here, because that's what's going to happen.

I mean, listen, there's too many people that are greedy in the market. I talk to people all the time that, you know, they think the market's the greatest thing. And I'm not knocking the stock market. Don't get me wrong. You know we all have investments in there and we've all made money in there. It's great. But having all your eggs in one basket, that's not what it's all about. It's about diversity. It's just about putting your eggs in different baskets and just giving yourself an opportunity to protect yourself. Because if not, you're going to lose. I mean, it's just that's just the name of the game and that's just the reality of the situation. It's not going to end well for any of us. So if you don't do something about it and you don't do it quick.

You know, I mean, why not put yourself into something that's never been at zero metals have never had no value to them. There's only so much of it here on this earth. They're getting harder and harder to mine. There's a reason why central banks and governments and these major investors are buying physical gold and silver at a record pace. Why is it okay for them folks and not for folks like us, regular folks like you and I? Why is it okay for them? And they want to push this paper that's worthless onto us, but they want to buy the metals. And don't you know we're not supposed to be a part of that? I mean, I just kind of looking think about it, you know, just scratch your head and think about it, because it doesn't make sense to me.

Yeah. Carl, listen, I watched an interview this past week with one of both yours and mine, favorite analyst David Morgan. And for the folks at home that don't know David Morgan, he's one of the most brilliant minds in precious metals. And he said something really interesting, Carl. And he said that for the people that are not getting into silver and gold right now, it's going to become and I'm quoting him, unobtainable. And he literally said, there's going to come a point in the near future where people are not going to be able to get metals anymore. Silver is in its sixth year of a structural supply deficit, and we're not coming out of it anytime soon. Metals are we're living in the information age. Everything is built and running off silver.

People are storing their wealth now in gold. And that is why these prices are shooting up. I mean, Karl, listen, we were on the radio months ago when silver was hovering around 50 and gold was hovering around 4000, telling people these very things. And here we are today, you know, $650 higher in gold in only a few, you know, you know, few months, a few short months and, you know, silver up, you know, 16, 18%. I mean, I don't have the exact number in front of me, but, you know, that's why, you know, I think it's so important for folks listening at home. This is the wake up call. And Carl, that leads me into my next and final question for you and folks. This, I think will be an important one for you listeners at home and something that Carl will be able to expertly answer for you.

But Carl, you know, let's let's get into the mechanics, because this is where a lot of people, I think, get nervous, right? If they're thinking about doing it, if they get nervous because a massive portion of our listeners have their wealth tied up in a 401, an IRA, a 403 b, or a TSP if they served in the military or the federal government. And they want physical gold and silver, but they have this illusion that moving their retirement means getting hit with massive taxes or early withdrawal penalties. And walk us through how a precious metals IRA rollover actually works. Carl, how simple you make the process and how it's done. 100% tax free.

Yeah, I mean, listen folks, this is really easy to do. You just first of all, it's a qualified rollover. You're just going from, you know, one retirement account to another. So that's the first part of this. The second part is it's about you know we have a team here that handles everything. I mean it takes, you know, about an hour on the phone over a couple of week period from start to finish. So I mean, if you got an hour on the phone, you got the time to put yourself in a position to protect what you have, because unfortunately, if you don't do something about it, you're going to get left in the darker and, you know, to do an IRA rollover, it's really easy to just get yourself out of harm's way.

I mean, unfortunately, we've all lost money in the markets throughout our lives. And the problem is, is do we have time to or do we have time, or do we want to wait to get our money back and hope that the markets make it back? And in the meantime, you got the fed printing money out of thin air. The dollar is losing value, the debts growing. I mean, you know, we don't have that same buying power. So why wait on the sidelines to not protect yourself sooner than later? I mean, to me, it's just it makes sense. I mean, I don't know why people would want to sit back and say, oh, let me wait and see what happens. I mean, what are you waiting for? Right. And, Karl, listen. I mean, it's it's simple.

That brings me to one final question for you before we close out the show today. And I want to talk about legacy for a second, because we're speaking to people in their 50s, 60s 70s 80s, who have worked a lifetime to build their nest egg. And when they look at Washington's $40 trillion mistake, and that's what I call it, a mistake. What do you think is the single most important thought you want them to remember today? What's the single most important thought? It's it's. You can't you can't let them take it from you. You have to take control for yourself. I mean, the reality of it is, is nobody's going to tell you to do this, especially, you know, folks in, you know, the financial sector. You know, in the equities markets, they don't sell physical gold and silver. They sell paper. They're worried about themselves and their poor, you know, they're basically, you know, their portfolio that they have of yours.

And they're just worried about what they can do to protect themselves. I mean, they want to make sure they keep getting their paycheck, whether you're a count goes up or down, they don't care. They're still getting paid at it. You need to do this to protect yourself and wake up. Because, I mean, like I said, I mean, if these banks and these governments are buying these metals, why is it okay for them? It's to me, it's just that simple. I mean, I talked to a gentleman the other day and it really the conversation was, you know, he just couldn't wrap this head around that. The financial institutions were not being truthful with him. And I laughed. I said, sir, I go, you know, not that good people. I got a lot of friends in that industry.

They're nice people. But the reality of it is, is they're never going to tell you to do anything that doesn't benefit them or their company. They all. This is nothing more than a job, folks. Your financial advisor is a job. He has a boss. He has quotas. He has to, you know, perform. If not, he's going to lose his job. So what does he do? He tells you to do stuff that may or may not be in your best interest to make sure he continues getting paid. And that's just the harsh reality of it. I mean, it's common sense. Look at what's going on around us. Just because the stock market is good or high doesn't mean we have a good academy.

I mean, you talk to look around and look at businesses are failing. I mean, in every city in this country, we're watching places close up or companies by other companies. They're not doing it because they're doing well. They're doing it because they need money. They need to sell. They need to. You don't get themselves in a position where they could either pay off their debts and move on with their life, or they're facing bankruptcy. A lot of these guys, so, you know, the economy isn't good. The stock market may look good, but, you know, I mean, there's a great article. I think it was Market Watch. He had a few, I don't know, two months, three months ago that, you know really the market was not even up. I was doing is keeping up with inflation.

I don't know if it was Jamie Dimon or Dalio or one of them was saying the same thing. You don't really making money in the market. It just keeping up with inflation. So listen give me a call. It doesn't hurt to have a conversation folks please call in and ask some questions and do something about your retirement and protect what you have. So it's there when you need it. I mean, listen, medical things pop up, natural disasters pop up. You got to do something to protect against that. So please feel free to call at any time. Love to chat with you if it makes sense. Great. If it doesn't, we had a nice conversation, but whatever I can do to be of assistance, call and ask for Carl. And you know, I'm more than happy to do that.

And Carl, that is the entire conversation in a nutshell. This isn't about speculation. It's about defense and making sure that everything you work 40 or 50 years to build stays intact for your family. When you hold physical gold and silver, you take your future out of Washington's hands and put it back where it belongs, in your own, with you folks, with you, and with that. Carl, as usual, I want I want to thank you so much for being here today, for your leadership at Reagan and for over a decade of friendship. Most importantly, folks. My pleasure.

Yeah. Thank you, Carl. And folks, the facts are right in front of you. The national debt is past $40 trillion. Gold is breaking all time highs above 4650. And silver is right on the doorstep of 70. The biggest central banks in the world have made their move. The institutional money has made its move. Now it's your turn. Pick up the phone right now and call Reagan Gold Group 1-800-702-2212. You can ask for Carl directly. If he's busy, one of his team members will take a message and be sure that he'll give you a call right back again. Folks, that's 1-800-702-2212. Or you can visit on goal.com. It takes five minutes. A real specials answers the phone, handles the paperwork, and helps you roll over your IRA for one TSP or cash into real physical gold and silver, completely tax free. Folks, I am Walt Philips. Remember to protect your wealth and we'll see you next week on The Gold Show.

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You've been listening to The Gold Show with Walt Philips, sponsored by Reagan Gold Group, a trusted precious metals leader helping Americans safeguard their wealth and retirement savings with physical gold and silver. To learn more about hedging against uncertain times and securing your retirement, visit OwnRealGold.com. That's OwnRealGold.com, or call 800-702-2212 to speak with one of our specialists. Reagan Gold Group is not a tax advisor. Join us next time for more insights into the purest form of money, physical gold and silver.