Episode 8: The 1975 Gold Trap | The Gold Show with Walt Philips

Transcript edited for clarity and readability.

Announcer

From the center of America's precious metals conversation. 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 GoldGoodLife.com That's t GoldGoodLife.com. Now here's your host, Walt Philips.

Walt Philips

Welcome to The Gold Show, folks. I am your host, Walt Philips. And this broadcast is brought to you by my good friends over at the Reagan Gold Group. Quick reminder, folks, before we get into it today, I am not a financial advisor. I'm not a tax planner. I'm not a licensed anything. I am a just a guy who has been watching the math for 20 years and cannot stop talking about it. Everything I say is my personal opinion. Do your own research and talk to a professional before you make any financial decision. Now, before we get into today's show, folks, I want to do one thing and let's have you grab a pen and write this number down right now. And that number is 1-800-702-2212. Or if you're not a phone person, you can go to OwnRealGold.com.

Again folks that's 1-800-702-2212. Or you can go to OwnRealGold.com. That is the Reagan Gold Group. And I'm going to say that number a few more times today, because what I am about to talk about is going to make you want to call that number. So again 1-800-702-2212. Or you can go to the website OwnRealGold.com okay. So let's get into it folks I want to tell you a story because I've been thinking about this all week. And it's something that I was really looking forward to telling you folks about. And it's a true story about a mistake that has been made by millions of people and a mistake that I'm watching people make again right now, today in real time.

So I was listening this week to Rick Roll, and he is one of my favorites. And for you folks who don't know who that is, Rick Rule is one of the most respected voices in the precious metals investment world. The man has been investing in this space for over 50 years. He has seen every cycle, every crash, every rally. When the man talks, the smartest money in the world listens. And he was speaking in his symposium and he told a story about 1979. And that is what I am wanting to tell you folks about today. So think back to the early 70s, right? Nixon had just taken the United States off the gold standard in 1971. For the first time in history, the dollar was backed by nothing but the government's promise.

Inflation started to creep up, the price of everything started to rise, and gold, which had been fixed at $35 an ounce for decades, was suddenly free to find its true market value. And it ran. By 1974, gold had climbed all the way up to $200 an ounce. People were excited they were buying it. They felt smart. They felt like they had figured something out that the rest of the world had not caught on, caught onto yet. And then the Federal Reserve started raising interest rates. Inflation seemed to cool off, and gold dropped from 200 all the way down to 100 an ounce. And that's a 50% crash, folks. And the people who had loved gold at $200, they panicked. They couldn't take watching the number go down. They sold. They took their losses and walked away.

They told them selves, I got out before it got worse. They thought they were being smart. Now, six years later, that same ounce of gold that they sold at 100, 100 to be exact, actually $112 had climbed to $850 an ounce. The people who panicked missed a run of nearly 800%. They traded the greatest wealth building asset in history for a paper dollar that was getting destroyed by inflation, right at the exact moment they needed protection the most. And that is the 1975 trap. And I'm watching people fall into it again right now. The people who sold in 1975 were not stupid. They weren't reckless. They were reacting the way any normal human being reacts when they see a number going down. They were doing what they did, what felt safe, what felt rational. And that rational, safe decision cost them an 800% run.

Now, I want you to think about the people who did not sell, the people who looked at that $112 price and said the fundamentals have not changed. The dollar is still being destroyed. I'm going to hold those people went from $112 to $850. They did not do anything brilliant. They just didn't panic. They just stayed the course. And metals are getting hammered right now, right. We're not going to sugarcoat it. We're not going to put lipstick on a pig. The situation with Iran is escalating. Prices are spiking. The algorithms on Wall Street are reacting to every headline, and the paper price of gold and silver is pulling back. Now. My phone is ringing with people who are scared, people who were excited about gold at the highs.

But now that it's pulled back, they want to run their doing exactly what the people in 1975 did. They're letting a temporary price drop, shake them out of a permanent asset. Now think about it like a heavyweight championship fight. Right. Your fighter is dominating winning every round. And then in the eighth round he takes a big shot. He stumbles. He grabs the ropes. The crowd gasps. Is a fight over? Not if he's the better fighter. Not if the fundamentals are on his side. He shakes it off. He comes back in the ninth round and knocks the other guy out. And that is gold and silver right now. They took a big shot. The Iran situation, the spike that is the eighth round.

The crowd is gasping but the fundamentals have not changed. The debt has not gone away. The inflation has not stopped. The fight is not over. The knockout is still coming. And here's the thing that most people who are panicking right now are calling me insane. Walt, should I sell? Should I wait? Is it over there looking at a temporary price on a screen and confusing it with the permanent value of the asset? Those are two completely different things, folks. The price can go up and down every day. The value of gold is a store of wealth. Over 5000 years of human history does not change because of what's happening in the Middle East this week. Now here's the math. The United States owns o s rather. Sorry about that, folks. Owes $39 trillion and we are adding to that debt at roughly $5 billion every single day.

Not week, not month day, $5 billion a day. The interest payments alone now the single largest line item in the federal budget, more than national defense, more than Medicare. There is only one way out of that hole. The government has to print more money. And every time they print more money, every dollar you were holding becomes worth a little bit less. Gold does not care about the Iran war. Gold cares about one thing the long term value of the paper currency. It is priced in, and the long term value of the dollar is going in one direction right now. Now, if you've been meaning to call, today's the day 1-800-702-2212. Or you can go to that website OwnRealGold.com.

Call the Reagan Gold Group. A real person will pick up no robots, no commitments, just a real conversation with a special knows exactly what's happening in the market. And for you folks who've been listening at home every week, you know that my good friend Carl is always on the next segment with me. He is the top precious metal specialist not only at the Reagan Gold Group, but in the entire country. And if you folks want, you can ask directly for him. He's a very busy man. If he's available, he'll pick right up and if you ask for him, he'll give you a call back as soon as he can. You can speak and you can speak to the top guy, and you can hear it from the horse's mouth. I mean, I don't know any show that can offer you something better than that.

So again, folks, that number is 1-800-702-2212. Or you can go to OwnRealGold.com. Now folks I want to show you the difference between holding paper aka the dollar and holding gold. Because this is this is the argument that ends every single debate. Now think about when you were starting out, maybe your 20s or your 30s. You put your money in the bank because that is what responsible people did, right? The bank was safe. That's what everyone told you. Now, let's say you put $10,000 in a savings account back in 1971. Serious money back then, right? A real nest egg. You were proud of it. Today, 55 years later, that $10,000 has grown maybe to 15 or $20,000 with interest. But what can you actually buy with it? A used car, maybe a small vacation?

The purchasing power of that money has been eaten alive. The dollar you saved in 1971 is worth about $0.13 today. Now, let's say instead you would put that $10,000 into gold. In 1971, gold was $35 an ounce. $10,000 would have bought you about 285oz, 285oz of gold. Today, at $4,000 an ounce, is worth $1,140,000. The same $10,000. One decision. One path leads to a used car. The other path leads to over $1 million. That already happened. The math is done. Now I want to take that same exercise and point it forward because we've been talking about the past. Now let's talk about the future for a second now. I was watching an interview this week with David Hunter.

David Hunter is the chief macro strategist at Contrarian Macro Advisors. And I know that's a mouthful, folks, but let's say to simplify that a lot more. He is just one of the sharpest minds in this space. The man is truly brilliant. And in his most recent interview, he dropped a number that I have not stopped thinking about. He is predicting that in the next cycle, which is the late 2020s to early 2030s, 5 to 7 years from now, gold will reach $20,000 an ounce and silver will reach $1,000 an ounce.

Now let's do that math. Silver sitting at around $60 an ounce right now as we're speaking, give or take $10,000. Buy as you roughly 166oz at David Hunter's target of $1,000. Those 166oz are worth $166,000, $10,000 into $166,000 in 5 to 7 years. And that is just the long term target. Even in the short term, the next 12 months, Bank of America has silver going anywhere from 150 all the way up to $309 an ounce at 150. That same 10,000 becomes 25,000. At 300, it becomes 50,000. Gold is at 4000. Right now, $10,000 buys you 2.5oz at David Hunter's $20,000 target. Those 2.5oz are worth $50,000, and JPMorgan has gold going to $6,000 by the end of this year at 6000, which is short term. That same investment becomes $15,000. Now, what is that same $10,000 worth in a savings account?

Five years at 2% interest, 2% interest, about $11,000. $1,000 versus $166,000. You tell me, which one is the safe bet? We're not buying for today. We're buying for the version of you sitting in your kitchen in 2030, looking at what you own and deciding whether you made the right call. The dollar you're holding right now is going to be worth less in five years. That is a mathematical, mathematical certainty. The gold and silver that you buy today, based on every analyst from the biggest banks in the world to independent voices like David Hunter, is going to be worth dramatically more. The only question is whether you're going to be in on it. So folks, I want you to call that number 1-800-702-2212. Again, that's 1-800-702-2212.

Or you can go to OwnRealGold.com if you choose to go to the website. You're going to fill out a form. It might take you all of two minutes. And someone from the Reagan Gold Group is going to call you. They're going to go over all their options with you. So call right now. A real person will pick up the phone. No pressure, no commitment. And the worst case is you hang up. Best case, you change your family's financial future. So again folks, that's 1-800-702-2212. Or you can go to OwnRealGold.com. Now I want to switch gears here for a second. I want to talk directly to the people in their 60s, 70s and 80s that are listening right now.

The 1975 trap is bad for anyone, but for you. It's not just a financial mistake, it is a life mistake. A 30 year old who makes the wrong call has time to recover. They can work more years. They can earn it back. You don't have that runway. You need your money to work for you right now. You cannot afford to be in a system designed to slowly, quietly erode everything that you have built. And I hear this all the time, Walt. My money safe. I've got it in a CD. I'm getting 2%. 2%. Like it's something to be proud of. Let me ask you something. Did your grocery bill only go up 2% this year? Did your insurance your gas? Of course not. The real cost of living is going up seven, eight, 9% a year.

Your quote unquote safe 2% CD is actually losing you 5 or 6% every single year in purchasing power. You're going broke safely. That is what the bank calls security. And let me tell you something else. You know what that CD money is doing while it sits in the bank. The bank is taking your money and lending it out at seven, eight, 10% interest. They're making ten times what they are paying you. They're using your money to make themselves rich while you sit there proud of your 2%. That isn't a partnership, folks. That's not a bank looking out for you. That is a business model built on keeping you exactly where you are now. Compare that to silver. Silver was up over 50% in the last year, not 2% 50%.

Even though the pullback we are seeing right now, silver is still dramatically outperforming every savings account, every CD, every annuity that there is on the market. The math isn't even close, folks. It's not even a competition. Now, let me let me give you one more way to think about this. Back in the early 60s, a brand new Ford Mustang cost about $3,000. $3,000. Folks, if you had $3,000 in cash sitting in a savings account from 1965 to today, you know what that cash buys you now? Maybe a set of tires for that Mustang if you still have it, maybe a car payment or two. But if you had taken that same $3,000 in gold in 1965 at $35 an ounce, that's about 85oz of gold.

Those 85oz at $4,000 an ounce today are worth $340,000, $340,000 from 3000. That buys you the Mustang, pays off your house and puts your grandkids through college. Same money, one decision, 60 years of patience. And here's the part that should make every person listening. Sit up straight while the banks are telling you to keep your money in a savings account earning 2%, the central banks, the people who actually print the money, or doing something completely different, they are buying physical gold at the fastest pace in recorded history, over 1000 metric tons in 2024 alone.

The people who print the paper money don't keep the paper money. They keep gold. Ask yourself why? I'll tell you why. Because they know what the dollar is. They built the dollar. They know exactly what it is worth long term. And they're not keeping it. They're keeping gold. The same goal that has been money for 5000 years. The same gold that is survived every empire, every war, every financial crisis, every government collapse in recorded human history. They know something and now you know it. To think about ten years from now, you're in your 80s, your kids are in their 50s and 60s. They have their own lives, their own bills, their own families. Do you want to be a source of strength for them or a source of stress? I've talked to people who waited, people who heard, people who heard the message, who knew in their gut that it was right.

And then they put it off. They called me two years later and said, well, I should have called when you told me to. And I hear the regret in their voice, not because they lost money, but because they missed the chance to protect their family. They missed the chance to be the person who made the right call when it mattered. The people who made the right decisions, who protected their wealth, who held real assets. They're the ones whose kids are not sacrificing their lives to take care of them. They're the ones who left some left something behind. They turn their life's work into a legacy. That is what this is about, folks not getting rich, not beating the market, just making sure that everything you work for is still there when you need it.

Just making sure that the people you love are taken care of. That's the whole thing. That's the entire conversation. And I need you to understand how simple this is. You call the number a real human being. Answers. You tell them you're listening to The Gold Show. You want to learn about protecting your savings with physical gold and silver. They walk you through everything. They handle the paperwork. They answer every question. If you have an IRA or a 401, they explain exactly how a rollover works legally, without penalties, without taxes. And if at the end of the call you decide it's not for you, you just hang up. No pressure, no follow up calls. Five minutes out of your life.

I wish I could make the call for you, I genuinely do, but only you can do that. So if you have a 401(k)), an IRA, a savings account or a pension and you have not had this conversation, make the call today again, folks. That's 1-800-702-2212. Or you can go to OwnRealGold.com. Real people, real answers. No commitment, no pressure. Now, folks, do not be the person who calls me in two years and says, Walt, I was listening to your show. I knew I should have called. Why didn't I call? I hear that more than you know. And every single time it breaks my heart because the call is free, folks. The information is free. The only thing it costs is five minutes of your time.

So again, folks, I don't want to be a broken record, but pick up that phone right now. Call the Reagan Gold Group 1-800-702-2212 or go to OwnRealGold.com. Make the call. Take control. Protect your family. And when you call, tell them that you heard Walt. Tell them about this episode. Tell them that you heard these things so you can go over your options. Now, folks, I am Walt Philips, and I don't want you to go anywhere in segment two. I am bringing Carl back on the show. We're going to keep this conversation going, and we're going to talk about why who you buy from is just as important as what you buy. We will be right back. Folks, this is Walt Philips. This is The Gold Show, and I will see you shortly.

And welcome back to The Gold Show. I am Walt Philips, and this broadcast is brought to you once again by Reagan Gold Group. And a quick reminder before we get into it, folks, I am not a financial advisor. I'm not a tax planner. I'm not a licensed anything. I'm just a guy who's been watching the math for 20 years plus and cannot stop talking about it. Everything I say is my personal opinion. Do your own research and talk to a professional. Now, folks, let's pick up exactly where we left off. If you were with me in segment one, I want to bring you back into it. And if you're just tuning in right now, I'm going to catch you up. Because what I talked about in the first half of this show is the most important thing I have said in a very long time.

And that's saying a lot because I say a lot of important things. Folks, I told you about Rick Rule, one of the most respected voices in the precious metal space. He told the story at his symposium this week about what happened to gold in 1975. Gold had climbed to $200 an ounce. People loved it. They were excited. They felt smart. And then the price dropped all the way down to around $100 an ounce, a 50% crash. And it was because inflation went up the same exact landscape that we're in today. And the people who loved gold to 200 couldn't sell it fast enough. At 100. They panicked and they ran. And then what happened? Six short years later, folks, that same ounce of gold went from $100 to $850.

The people who panicked missed an 850% run. They traded the greatest wealth building asset in history for a paper dollar that has been losing value ever since. And I told you that story because this is exactly what's happening today. Metals are getting hammered. The Iran war is pushing prices up. The algorithms on Wall Street are reaching, are reacting to headlines, and people are starting to panic. And they're asking me, what should I wait, should I sell? Is it over? And my answer is the same answer it would have been in 1975. No, it is not over. Today's reality is just today's reality. It is not long term reality, and it is definitely not the long term reality of gold. Now, I reminded you that when you were a kid, a bottle of Coke was a nickel gallon, the gas was a quarter, a house was $12,000.

Not because those things got better, but because the paper dollar got weaker. It has lost 87% of its purchasing power since 1971. And in that same time, gold has gone from $35 an ounce to over $4,000 an ounce. The $35 in paper. It barely buys you a burger, folks. I say it every single week. And the $35 in gold. It covers your mortgage payment with room to spare. And I talk directly to the folks in their 60s, 70s, and 80s because you are the ones who cannot afford to wait for a five year stock market recovery. You need your money to hold its value. A CD paying you 2% while inflation runs at 7 or 8% is not safety.

It's a slow and quiet loss. You're going broke safely, and I refuse to let that be your story. So folks, if you have not called yet, I need you to grab a pen right now. Write this number down 1-800-702-2212 or go to OwnRealGold.com. Call Reagan Gold Group. A real person picks up no robots, no recordings, no commitment, no pressure. And worst case, you hang up. Best case, you change your family's financial future again. Folks, that's 1-800-702-2212 or OwnRealGold.com. Now, folks, I want to keep this conversation going because I think the 1975 trap is the single biggest reason that people fail to build real wealth. And I want to bring someone on who's been on this show every single week and who's making a major impact.

Folks, a lot of you guys are calling in because of this man, and he has so many valuable things to say. He is on the phone with real people in real situations every single week, and he's one of my dearest friends. Carl is the top precious metals specialist at Reagan Gold Group. We've known each other folks for over a decade, and he has helped thousands of people navigate these markets through every crisis, every pullback and every rally. He has heard every objection in the book. He has answered every question. He's seen firsthand what happens to people who act and what happens to the people that don't. And with that, Carl, welcome back to the show, my friend. Well, thanks so much for having me, buddy. I appreciate it.

Absolutely. I'm always excited to have you here. I'm always excited when I get you on the show. And Carl, you know, as I told the folks earlier, I spent the whole first segment today talking about that 1975 trap that I know you're all too familiar with and the idea that people want to buy when it's high and they want to run when it's low. It's the weirdest thing to me. And I look at the math and I think this is the most obvious buying opportunity in the world, but I'm just the guy on the radio. Carl, you're the one who's actually on the phones with people. And what are you hearing right now? Or people falling into the trap? And what are you telling them? Well, here's the thing. I we're not seeing a lot of people sell, like, back.

You know, back in the 70s, you know, like the example you gave from, you know, Rick Rule. But the reality of it is this people are just being scared. And the part that I don't understand is, I mean, we all love deals. We all love buying something at a discount. This is nothing more than a buying opportunity. I mean, it's that simple. You can't have what's going on in this country continue and be, you know, sustainable. Yes. This is a short term blip on the radar. Folks need to just jump on the bandwagon and take care of that. Now they need to say, hey, listen, I'm going to do this now. You're exactly. That's it. I mean, it's that simple. Don't wait.

Make the move. Protect yourself. Sit back, pop the popcorn and watch the show. It's that simple. I mean, metals are in a by Monday sell Friday investment, if that's what you're looking for. Go buy Tesla stock or something. I don't know, but don't buy gold and silver. It's a longer term hold. It's a hedge. Yeah it's crazy to me Carl. You know I said to a friend this week man. You know we were talking about this very thing and I asked him I was like I pulled out my iPhone and I said imagine that this was brand new in a box right now. And he looked at me like I was crazy.

He's like, well, why are you saying that to me? I said, just imagine my iPhone was brand new in a box right now. I said, what if I wanted to sell to you for $500? What would you do? And he said I'd buy it in two seconds. And I said, do you need an iPhone? He goes, not really, but I'd buy it anyway. And I said, well, what if I told you that, you know, I, you know, the best time to buy it would be if it was $500 more expensive than the actual retail price. And he's like, well, I would think you were stupid. And I said, yeah, well, unfortunately that is what goes on with people buying gold and silver. They seem to want to buy it when it's it's going up the ladder and it's getting more expensive and more expensive and more expensive. Like they need that validation instead of buying the sale. Yeah.

Well, listen, here's the thing. You're right. Because here's the thing. It's almost like the ever out of you ever heard anybody ever heard the expression FOMO fear of missing out? Yep, yep. People want to jump on the bandwagon instead of be smart and protect himself ahead of time. I mean, I'm a pretty conservative type of investor and conservative type of person. That's just me personally and everybody, you know, do your own thing, do what you're comfortable with. But the thing is this I like to set it and forget it. I want to be proactive and not react. If you guys have heard me say that week after week, get your medals, sit back and don't worry about it because we're not going to see the market run up. You know much more. It can't. It's not possible. This is a time for people to basically say, wait a second here, let's buy at a discount.

Let's take advantage of the promo. You know, meaning gold and silver is a lot cheaper. I mean, I know I love buying stuff on sale. Everybody does. Yeah. Like you just said. I mean, you know, why do you want to buy it at full price when you don't have to? Going back to your example, gold was at 200 bucks. Drop to a hundred. The scaredy cat or the people that unfortunately didn't have the wherewithal to see the big picture jumped out. The people that hung in there made 800%. I mean, it's common sense. Gold and silver have always gone up. It's a physical asset. There's only so much here on this earth. I mean, listen, theoretically, anything could happen. Could it go to zero, I guess, but I mean, how likely is that, you know, I mean, I probably got a better chance of getting hit by a car in my living room than gold and silver having no value.

Yeah. And, Carl, the crazy thing to me, man, is that, you know, cash, historically, all it's ever done is lose value. Every single day, every single second, every single minute, every single year. Cash loses its value. It keeps losing its value and losing its value and losing its value. And gold gains value over time. There's never been a point in history where you can look at an elapsed amount of time, whether it be one year, five years, ten years, 30 years where gold hasn't gained value. The example that I gave earlier about, you know, 1975 and gold being, you know, $35 an ounce and now it's over $4,000. Cash has lost value, so much value, 87% of its value. And I think that's the point that I just keep trying to hammer across here is that the folks listening to us at home right now, you know, this investment that, you know, we speak about, that we're encouraging them to look at.

It's something to protect their future. It's something to solidify their future not only for themselves, but for their kids, for their grandkids. Exactly. Insurance. It's insurance. It's about protecting yourself. You ensure your house. You ensure your cars. You ensure your life. Why not ensure your money? Yep. Well quick. You know I mean people will say real quick I'm sorry. Yeah. No problem. Me all the time. You know people come to me all the time and tell me oh you know. Hey Carl, listen, you know, we gotta, you know, protect ourselves and this and that. But then they don't want to make that move because they're, you know, somebody told them not to. But I mean, guys, it's real simple.

You have to do you have to protect you. And that's the most important thing because that's the only thing that matters. You have to make that decision to say, hey I want to put myself in something real. I mean because remember something the paper we carry in our pocket is paper. It's not money, it's fiat currency and ounce of gold or an ounce of silver is real value. You could take that anywhere in the world. People know what it is. And the reality of it is, is the US dollar. Like you were just explaining, has lost a tremendous amount of value. I mean, what is it? It's backed by the faith of the US government. Great. I'm glad that it is, but we haven't defaulted yet. I mean, how could you keep robbing Peter to pay Paul?

Yahoo finance had a great article out a few months ago where by 2030, we won't even be able to afford the debt. The interest on the debt that we. Oh, wow. Yep. I saw something like that too. I saw something like that. So yeah. It's crazy. Well listen Carl real quick I want to say one thing folks. If you're listening to call right now and you're listening to the conversation that we just had and any of this is resonating with you, I want you to grab a pen and a paper, and I don't want you to just grab that pen and paper and just to write the number down.

I want you to grab the pen in the paper, because I want you to take the have the courage to take that first step and give make the call over to Reagan Gold. Folks, that number is 1-800-702-2212. Again, that's 1-800-702-2212. Or if you don't, if you're not a phone person, you can go to OwnRealGold.com. You fill out a few questions, and a real person from Reagan will give you a call in a very short amount of time and go over your options with you.

And folks, you know, the benefit of you folks at home listening to call right now is that you can ask for him. Carl is a very busy man, and I mentioned this last week, but Carl has an entire team that works in the room. If he is not available at the moment and you ask for him, Carl will make time to either call you back or if you happen to catch him and he's free, he will get on the phone with you and the guy that you were listening to on the radio right now, who was one of the top precious metals experts and top precious metals in sales in this country.

You'll have the privilege of being able to work with him one on one. So folks, please pick up the phone and make that call now. Carl, I want to pivot one here. And this is something I was thinking about all week. And I think this is a great question for you. So for the folks at home that don't know, a couple weeks back a company called Rosalind Capital, you know, they sell on TV, they sell gold and silver. They filed for bankruptcy because there were some things going on behind the scenes. I'm sure you know about it. Carl and the victims were all of their customers, and they didn't end up getting their gold and they didn't end up getting, you know, the things that were promised to them. And, Carl, my question for you is how important is it to shop at a reputable company like the Reagan Gold Group, you know, versus one of these fly by night companies?

Well, I mean, it's real simple. I mean, do you go to a fly by night actor. Fly by night dentist? Do you feed your family with a, you know, food off of, you know, some guy out of some guy's trunk in a parking lot? I mean, you know, it's real simple. People need to know who they're working with. I mean, unfortunately, there's a lot of people out there that may come off as reputable, but the reality of it is, is, I mean, there's a ton of these companies. I mean, one thing that makes us different here is we don't buy our reviews. We don't change our reviews, we don't buy, you know, our we're the top rated company like a lot of companies do.

And unfortunately, there's a lot of people out there. I mean, there's people on the radio that unfortunately are kind of smoke and mirrors, you know what I mean? You folks, I always tell people, you got to be know who you're working with and you got to be very weary about it. I mean, listen, when somebody is offering something that's too good to be true, it usually is. I mean, you know, I know there's a company out there right now. They're giving 10%, supposedly, and in free metals. Well, how could they give 10% of their, you know, volume away? Yeah, that sounds odd.

How could you do that? Yeah, it's real simple. How can you do it? By overcharging the customer and then hitting them for high costs on the buyback. We don't charge costs here. Buyback cost here at Reagan Gold. I mean, it's that simple. You have to know who you're working with and make sure you're working with a reputable source just because somebody appears credible. And they may be, you know, on a TV commercial like that. William Devane, guy from Roslyn Capital, the guy from the soap operas, or, you know, people on the radio that unfortunately just have very checkered past and don't aren't really what they seem. You know, make sure you do your due diligence and protect yourself, folks. I mean, you have to know who you're working with because there are a lot of people out there that unfortunately are not what they seem.

Yep. And Carl, you know, that's the point, man. They had huge TV commercials, right? A celebrity spokesman and they filed for chapter 11 bankruptcy. Over 600 of their customers are owed $60 million in undelivered medals. They took people's money and did not buy the medal. The SEC is investigating them. The New York attorney general is investigating them. And the chief restructuring officer filed a sworn statement in court saying, and I'm quoting this directly, Carl, the debtor no longer possesses any inventory of precious metals, coins or bouillon. 600 people trusted that company with their savings. And the metal is gone. And for you folks listening right now who are ready to buy. How do they make sure that that you know, that they're working with a reputable company? It's exactly what Carl just said, folks, you have to do your due diligence and all great points, Carl.

Well that's it. I mean, look, you just said I mean, you just made me think of something. You know, you got to make sure you know who you're working with. All these people that lost their life savings or loss of substantial portion of it. I mean, come on, what is this, Enron? I mean, think about it. I mean, look at all those all those folks. I mean, there's companies out there that, you know, have been in business for decades and they can't even afford to pay their employees pension plans or the retirement that you work your whole life for to get screwed out of it. I mean, I always tell people, you have to this is your money, not mine. Not Reagan's, not your financial advisor, not your companies, not your, you know, plan administrator.

This is yours. You know, you're an adult. You have to take, you know, step up to the plate and be an adult and take, you know, the proper actions to put yourself in a position where you know you have what you need when you need it down the road. You know what I mean? And once again, going back to what you said a little bit ago. I mean, listen, the US dollar is lost a tremendous amount of value. I mean you know, I mean I tell people all the time there was a great article out I saw, I think it was market watch, possibly a few maybe. I don't know six weeks ago, five weeks ago they were talking about the markets how the markets aren't really up. Yeah I mean technically they're up but are they really making money or are they just keeping up with inflation? Right. Very good point.

Very good point. You know, I mean, it's you have to make money on your investments. I mean, I get people all the time, they're like, hey, I'm making 4% or 3% in the bank. I go, great, I go, you're losing a whole lot more than that. You're losing the buying power. Sure. Your numbers are going up on the balance sheet or on your statement or, you know, in your account, but where is it getting you $20 today doesn't buy it by you, you know, today. What about you last year? It ain't going to buy you next year. What is buying you today.

You need to put yourself in a position where you're, you know, making something on your money to make sure you have that same buying power because life happens folks. We all know that, you know, a tornado comes through or a hurricane rips the roof off the house. The car gets destroyed. You know, you have a heart attack, you get hit by a car. I don't know, I mean, things happen all the time to folks. You got to make sure you're prepared. And like I was saying earlier, it's about being proactive, not reactive. Don't call us when it's too late. When the markets down, metals are up and your backs up against the wall because you need to make money to live your lifestyle. Absolutely.

I don't know I mean I just, I feel like everybody needs to put themselves, you know, take accountability and say, hey, listen, this makes sense. I understand why I'm doing it. Put your big boy pants or your big girl pants on and say, listen, this is what I'm going to do. I'm going to move the money. I'm going to put myself in a position. I'm going to stick to that decision, sit back and relax and just watch what happens. I mean, like you said, metals have gone up. They continue to go up. Sure. We're in a little bit of a downturn right now. Great. By at a discount. It's that simple. It's a long term investment. Yep. And Carl like you know, a point that I like to hammer home is that today's reality. And people that are price watchers, that's not reality. Today's reality is not reality. Today's reality is not the future.

Today's reality was yesterday's news. Today's reality was yesterday's news. And that's the problem. Too many people look at the past or think that today's news is, you know, or what they hear about today is something that just happened or is, you know, whatever. It's the residual effect. What's already happened from weeks and even months ago. Don't look in there. Do you want to look in the rearview mirror? Do you want to look out the windshield? What's the better way to go? Exactly. Well, listen, Carl, I unfortunately, and I, you know, I could keep talking about this for hours on end because this is one of my favorite things to talk about. Unfortunately. It's.

All we exactly. We have. We did we have run into all the time that we have for today. And Carl, I appreciate you coming on and breaking this down because this is the stuff that keeps me up at night, and I want to leave everyone listening with this one thought. Not next week, not next month. Ten, 15 years from now, you're going to be in your 70s or 80s. Maybe you're 90. You're going to be relying on the decisions that you made today, the decisions that you're making right now while you're sitting in your car or your kitchen listening to this very show, are you going to be the person who fell into the 1975 trap? Are you going to be the person who watched the market pull back and panicked?

Are you going to be the person who left their money in a savings account, making 1.9%, while the government printed trillions of dollars? Or are you going to be the person who took control? The person who understood that when the world is in chaos, you do not panic. You anchor yourself. You buy the physical metal that has survived every war, every depression, every currency collapse, in every panic in human history. This is the moment, folks. The pullback is a gift. Do not waste it. Pick up the phone right now. Call Reagan Gold Group. That number folks again is 1-800-702-2212. Or you can go to OwnRealGold.com. Make the call. Take control. Protect your family. I am Walt Philips. This has been The Gold Show. And we will see you next week.

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Thank you. Folks. 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 GoldGoodLife.com that's GoldGoodLife.com or call 1-800-702-2212. 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.