December 12, 2025 • 47 mins
America’s leaders keep telling us the economy is booming — but a new analysis blows that lie wide open. Today we break down how the real poverty line isn’t $31K… it’s closer to $150,000. In this sober discussion with Collin Plume, we expose the 1960s formula still used to define “poverty,” why the middle class feels poorer every year, and how Washington is hiding the true cost of living. If you’ve wondered why life feels harder even when you’re working harder, this conversation connects the dots.
To learn more about investing in gold & silver, visit http://goldwithseth.com, or call 626-654-1906
Kimchi One from Brightcore – Improve your health, improve your life.
25% Off with code: MANINAMERICA at https://mybrightcore.com/maninamerica
Or dial (888) 575-6488 for up to 50% OFF and Free Shipping – ONLY when you call!
To learn more about Red Light Therapy, visit http://myredlight.com and use promo code SETH to save.
Follow my Substack: https://maninamerica.substack.com/
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:15):
Welcome to Man in America, a voice of reason in a
world gone mad. I'm your host,Seth Holehouse. The average
American these days is notliving in what you'd call the
golden age. And maybe I'm overoverstating something here.
Maybe you are.
But everyone that I talk to, allthe data that I see is showing
(00:36):
that your average American isstruggling to get by. And it's
kind of tough because I feltthat we're being gaslit and
being told that we have thisgreat economy and all these
amazing things are happening.And, of course, there's some
good things going on in thecountry, but if you look at just
the day to day life and how manypeople are forced to put their
kids in the childcare so theycan work two jobs, how many
(00:57):
people are working, you know,both spouses are working,
they're working multiple jobs,even the amount of people that
are living paycheck to paycheck.It's kind of wild. But what's
really interesting is I cameacross an article recently that
really blew my mind.
So it's a guy named MichaelGreen, and this this sub sec
post he put went, like, megaviral. And if you search for it,
(01:18):
you see all kinds of news, youknow, articles analyzing it,
trying to debunk it. Basically,what he says here is that the
poverty line in America is notwhat we have been told. So what
they're saying is I think thepoverty line is somewhere around
31,000 officially. What he issaying though is that the
poverty line, based upon hiscalculations in America, should
(01:41):
be a 140,000.
Now when I first saw that, Ithought this there's no way.
This is absolutely nuts. Butactually, I read the article,
and you look at the informationhe's putting together, and it
makes a lot of sense. So this iscrazy to think that the poverty
line, according to his data,which I tend to agree with most
of what he's presenting, is140,000. It's over $10,000 a
(02:02):
month for your average Americanfamily, which is, you know, say
if a family is making $60,000 amonth, I remember growing up, I
think it was in the nineties, mydad was making $60,000 a month,
and my mom didn't have to work.
We had a decent home. I mean, itwasn't a mansion, but we lived
okay. And we had a couple cars,and it was very doable. These
(02:23):
days, if you're making $60,000 amonth, you're sharing a house
with somebody, you're renting anapartment, you know, two bedroom
apartment for $1,800. I mean,people are barely getting by.
But to me, it's just wild tothink that the poverty line
could be a $140,000. Like,what's wrong? What has gone
wrong in this country? Butwhat's crazy is that there's
(02:45):
more Americans living paycheckto paycheck now. I even saw a
stat from Goldman Sachs, whichwe'll cover in today's show,
that 40% of people making over$300,000 a year are living
paycheck to paycheck.
Now not because they're poor,but because maybe they're not
handling their money properly,but it's still an indicator of
something that's really off inthis country. If you look at
(03:06):
then also the skyrocketing debt,the skyrocketing defaults on
mortgages, car loans, etcetera,there's a picture here that
doesn't make sense, especiallyif you contrast it with the
stock market, which is at an alltime high. But amidst all of
this, you've got silver, whichis now over $60 an ounce at the
time of recording. So how doesthis all fit together? How does
(03:30):
this make sense?
What's really going on? And sojoining me today is my good
friend Colin Plume, the CEO ofNoble Gold, someone who
understands the ins and outs ofeconomics, but also understands
the mechanisms of the, you know,suppression of silver and gold
prices, how those play intothings, what's happening with
the central bank. So he brings areally broad, understanding of
(03:51):
what's happening. And so in thisshow today, we're gonna try to
dissect what's really going onin this country. Because one
thing I can tell you from my ownperspective is that what's
happening is not what they'retelling us.
There's something else going on,and I don't think it's a good
thing. So I hope you enjoy thisinterview with Colin. Before we
jump in, a few quick notes.First off, every show I do is a
(04:13):
podcast as well. So if you watchon the video on Rumble or
something, if you wanna listen,just go to your favorite podcast
app like Apple Podcasts orSpotify.
Search for Man in America. Youcan find me on there. And, also,
if you're watching on Rumble,thank you for supporting a free
speech platform. Rumble isliterally the single company
that has allowed me to do thisfull time and support my family
(04:35):
and bring this information toyou nonstop. Rumble has played
such an incredible role inhelping me because I'm I'm so
shadow banned on YouTube.
And, also, I only put, like, athird of my content on YouTube
anyway because I keep gettingstrikes on YouTube. So, anyway,
if you're watching on Rumble,thank you. Make sure you
subscribe to the channel. Makesure you hit the thumbs up
button, and leave a comment ifyou'd like to. And lastly, if
(04:55):
you love the show, please shareit with a friend.
Alright. Let's go and dive intothis interview with Colin Bloom.
Colin, it's great to have youback on the show. Thanks for
giving us your time today. I'mlooking forward to this
discussion.
Speaker 2 (05:07):
Yeah. Thanks, Seth. Nice to be here. And we're
coming up on the holidays, sogood time to check-in with you.
Speaker 1 (05:14):
Yeah. Yeah. There's there's a lot going on as usual.
But think that the one thingthat has really been weighing on
my mind a lot lately is justwhat life is like for the
average American. Right?
Because I think that we're beingvery gaslit. We're being told
that we're living in this greateconomy, the golden age. Yet if
(05:35):
you look at the actual numbers,it tells a different story. And
there's a few things that we'llbe touching on, one of them
being a kind of a perspective ofa revised poverty level, which I
think is really significant. Butmaybe we'll start with just
looking at consumer sentiment.
So if it's cool with you, I'llbring up an article on that, and
we can just kinda help get usgoing. So this is an article,
(05:56):
this is actually from lastmonth, but you talk about
consumer sentiment in November,saying consumer sentiment
plunged in November to nearrecord lows. So it says that
consumer sentiment plunged tonew record lows in November as
the slowing job market, stubborninflation, and the government
shutdown post increasingproblems for president Trump.
And they said that the theUniversity of Michigan consumer
(06:18):
sentiment index dropped to 50.3%or to 50.3% in November,
according to data released lastFriday, down from 53% last month
and 71% a year ago. So that'skind of crazy, it was at 71% a
year ago.
It says that the Novemberconsumer sentiment reading was
(06:38):
the worst since the record lowof 50 in June 2022, which came
near the peak of the postpandemic inflation surge. So, I
mean, this is this is reallyimportant because, like, this is
a reflection of what life islike for the average American.
And, like, what I'm seeing,like, I'm looking at my energy
(07:00):
bill, look at the cost ofgroceries. It just like, the
story I'm hearing over and overagain is that people are living
paycheck to paycheck. But,anyway, how do you interpret
this?
Speaker 2 (07:11):
Yeah. I mean, I think a lot of government jobs have
been lost. I think a lot of Csuite jobs have been lost.
They're not coming back. A lotof businesses have leaned out in
terms of staff.
(07:32):
So, think you have this overall,like, people that had these
jobs, sort of comfortable jobsthat they thought they would
have for the foreseeable futureare no longer there. And that's,
I think that's the tough partwhen you go through this big
change in the economy and howthings are going. You do have an
(07:53):
AI effect. The change in howpeople are spending money and
spending their time has changeda lot. So, you know, it doesn't
surprise me that the sentimentis low.
Think that the interesting thingis people that I know that have
gone through this and are stillemployed feel very confident
(08:17):
because they actually felt, thesentiment that I've gotten a lot
from people is that a lot of thepeople that were having those
jobs were not doing work. Theyweren't. And when you're at a
company and you have a lot ofpeople that aren't doing work or
aren't hitting their targets, itbrings the whole company down.
(08:39):
You know, I own, you know, I ownfour businesses. I have monthly
bonuses at every businessbecause I think that people
should get paid.
If we have a good month, you geta piece of the whole pie. And so
what I found is that as we didsome layoffs earlier this year,
we just kind of leaned out insome positions we didn't have
(09:01):
either, that the rest of thestaff was actually relieved. And
they felt great about the factthat there was just a lot of
people that weren't helping themachieve their goals. Or I had
one employee say that there wastwo people in her department, I
went to one person, and that oneperson said, I'm more efficient
(09:21):
now because the other personslowed me down. And so I think
there's, I think the sentimentis, you know, you're taking a
poll of a lot of people thatwere in jobs that weren't really
doing a lot of work.
And I think this is the new agewhere you have to require
employees to be involved in thewhole growth and sustainability
(09:44):
of a company. Whereas before, Ithink people just thought like,
oh, I'll just, it's a company,it doesn't matter how the
company's doing, I'm just gonnahave a job.
Speaker 1 (09:55):
Clock in and I'll clock
Speaker 2 (09:57):
clock in and clock out. And now it's like, now that
we have more data, likecompanies are saying like every
position has a sort of a goal,right? And we have that at our
companies. Like every departmenthas a different goal. Whether
it's a sales goal or even thepeople that pick up the phone,
(10:18):
we have goals for them, thatthey need to interact in a
certain way with people, andthey need to get to calls
quicker, and they need to have,and we do surveys.
So there's all these newtechnology that's like trying to
see how people are working. Andso I think what's happening is
that part of the sentiment isthat people are realizing you
(10:40):
just can't go to a job and then,you know, fall asleep for nine
hours, that you actively have tobe involved. And if your company
is not growing, you will nolonger have a job. And I think
that's a new mindset. And Ithink that's part of the reason
the sentiment down.
I think the other reason isjust, you know, the the stock
market's gone up, but it hasn'tgone up as much as gold and
(11:03):
silver and some of the otherinvestments. Real estate is
still in tough place. It hasn'trecovered yet, even though
they've dropped interest ratestwice this year, right? Maybe
there's a third one on thehorizon. So I think there's a
lot of people that are stuck intheir home, maybe got laid off
(11:23):
from a job, and now they'retrying to figure out, like,
what's my next career?
What's my next job? And theyrealize that whatever that next
job is, is that they're going tohave to quantify the value that
they're bringing to that companyor that business. And I think
that's a new we're sort of in anew world where, you know, for
the last fifty years, you justwent to college and got a degree
(11:45):
in something and you want towork at a company and you can
make enough money to survive,those days are gone. That normal
income, that $60,000 $70,000 jobis not as easy as it used to be
and it isn't just going to getthrown out to anybody. I mean,
they're really, every company islooking at every position really
closely.
And so I think the sentiment is,you know, do I have the right
(12:07):
skills, and am I adding value toa company? And if I'm not, what
do I have to do to do that? Andthat's why we're seeing a
resurgence in trade jobs andplumbers and all these that
like, it's very quantifiable ifa plumber goes to your house and
they don't fix your toilet, thenthey don't get paid, right?
Well, I mean, I've had someplumbers that still try to get
(12:28):
paid, but they shouldn't getpaid, if if you know what I'm
saying. I think there's a numberof things happening, and I think
it's affecting the consumersentiment.
But also that is, it'sinteresting because you have
that and then you have the stockmarket still at an all time
high, and those two thingsusually don't correlate either.
Like usually if the sentiment'slow then the stock market's
(12:49):
pulled back and that hasn'thappened. So there's interest if
you look at the data, it's itthat a lot of the data just
doesn't make sense right now.
Speaker 1 (12:57):
It it doesn't. You're right. It's really confusing.
And, actually, here's anotherpiece of data. It's interesting.
According to Goldman Sachs,they're saying that 40% of those
earning over $300,000 annuallyare living paycheck to paycheck.
And this is crazy. Now you couldsay that obviously, I think
that's that some part of this,you could blame on inflation. I
would argue that people that aremaking over $300,000 that aren't
(13:19):
saving any money, they're livingpaycheck to paycheck, it's
probably poor lifestyle. Right?
Like, actually, they saylifestyle inflation eating away
excess income as people upgradehousing, cars, vacations, or
maintain maintain high fixedcosts, even seemingly large
paychecks end up coveringbasics. I think that's also, you
know, there's something wrongwith the average American person
that's in that, you know, kindof bracket. But, again, it's
(13:42):
it's show it's showing ussomething's really off though in
the country.
Speaker 2 (13:46):
Yeah. 300 k in today's world, you should not be
leasing a car. And I know, like,it seems like, well, I want a
new car every year. Youshouldn't be. You know, I have
people all the time that ask mequestions about things.
And, you know, I remember when Istarted the business and we were
(14:07):
growing and, you know, Iremember hitting that 300 ks
mark and thinking like, I said,this isn't a lot of money. I
mean, it's a lot, but it's not ahuge amount of money that I
should lease, get a 600 or $700a month lease. Now those leases,
because of interest rates, I'veseen people that are in trucks,
(14:27):
they're spending a thousanddollars a month. If you're
spending a thousand dollars amonth on a lease, you should be
your income should be well abovehalf 1,000,000. Well above.
But I think people that aremaking 300,000 are buying those
and leasing those. And and, itdoesn't make sense. The cars are
made better today than they'veever been made. Why not buy a
(14:50):
car? Why not buy a used car?
Get away from that payment. Sothere's a lot of people that are
just, their lifestyles are goingup and up, and they're buying
the wrong assets, right? Likethat car, when you buy that used
car, it's just like, okay, Ineed to have a car, I can run
this thing for ten years plus,I'm gonna secure a payment, pay
it off for four or five years,and then I got five years of no
payments. That's the smart wayto do it. But people are like,
(15:15):
you know, everyone's like, Igotta get a new car, I gotta get
the new Tesla, or I gotta, andyou know, I see Teslas
everywhere now and I will alwayswonder, and they're always the
new Teslas, I'm like, two areyear old Teslas?
Don't those still run? They, ofcourse, they advertise more
mileage and distance, but mostpeople are not driving 200 miles
a day. I mean, it's irrelevantto them. So I think that there's
(15:38):
like, I do see the spendingcreeping as people make a little
bit more. They're not likeputting more money in their
retirement.
They're not buying more assets.They're just just buying more
stuff. And so that 300 k numberis not shocking me. And as much
as it should be shocking, I'mnot shocked by that by that
number.
Speaker 1 (15:57):
Yeah, you make some good points there. And also, it
probably has to do just with theoverall psychology of people,
like, in thinking that maybepeople aren't seeing much hope
for the future, right? So it'smuch more of mentality of, well,
I've got it and just kinda takeyou kinda enjoy it while I've
got it. Right? Which is also nota good thing.
I wanna, I wanna pivot to thisarticle because I think this
(16:20):
also helps helps explain a lotof this that I mentioned. And
this this, went this is aSubstack post by a guy named
Michael Green. And this went,like, mega viral over the past
week and a half or so. And whathe says and I'm not gonna read
the whole thing. It's a longarticle, but I'll read a few
paragraphs that really help makesense of it.
But basically, what he's sayingwith this is that he believes
(16:42):
that the new the poverty levelof 2025 should be closer to
$140,000 Basically saying thatthat's kind of cutoff. So say
you're making a $100,000, you'reactually living below poverty
level. So I'll read, a fewparagraphs here that just helps,
helps to outline his researchand where he came to this from.
(17:06):
So let me I'll read this righthere. It says, how a broken
benchmark quietly broke America.
I've spent my career distrustingthe obvious. Markets, liquidity,
factor models, none of theseever felt self evident to me.
Markets are mechanisms of priceclearing. Mechanisms have
parameters. Parameters distortoutcomes.
This is a lens through which Ilearned to see everything. Find
the parameter, find thedistortion, find the
(17:27):
opportunity. But there was onenumber I'd somehow never
interrogated. One number that Isimply accepted the way a child
accepts gravity, the povertyline. I don't know why it seemed
apolitical, an actual actuarialfact calculated by serious
people in government offices, aline someone else drew decades
ago that we used to define whois poor, who is middle class,
(17:48):
and who deserves help.
It was infrastructure,invisible, unquestioned,
foundational. This week, whiletrying to understand why the
American middle class feelspoorer each year despite healthy
GDP growth and low unemployment,I came across a sentence buried
in a research paper. The USpoverty line is calculated as
three times the cost of aminimum food diet in 1963,
(18:10):
adjusted for inflation. I readit again, three times the
minimum food budget, I feltsick. So here he's gonna get
into like kind of actually howhe came up with this number.
The measurement failure. Theformula was developed by Molly
Orszanski, an economist at theSocial Security Administration.
In 1963, she observed thatfamilies spent roughly one third
of their income on groceries.Since pricing data was hard to
(18:33):
come by for many items, likehousing, if you could calculate
a minimum adequate food budgetat the grocery store, you could
multiply by three and establisha poverty line. Orchansky was
careful about what she wasmeasuring.
In her 01/06/1965 article, shepresented that poverty
thresholds are as a measure ofincome inadequacy, not income
adequacy. This is quote, it'snot if it's not possible to stay
(18:56):
unequivocally how much isenough, it should be possible to
assert with confidence how muchon average is too little. So she
was drawing a floor, a linebelow which families were
clearly in crisis. For 63, thatfloor made sense. Housing was
relatively cheap.
A family could rent a decentapartment or buy a home on a
single income. As we'vediscussed, health care was
(19:16):
provided by employers and costrelatively little. Blue Cross
averaged $10 a month. Child caredidn't really exist as a market.
Mother stayed home.
Family helped or neighbors wholikely had someone home watched
each other's kids. Cars wereaffordable, etcetera, etcetera.
So we continue here, he says,but everything changed between
1963 and 2024. Housing costsexploded. Healthcare became the
(19:40):
largest household expense formany families.
Employer coverage shrank whiledeductibles grew. Childcare
became a market and that marketbecame ruinously expensive.
College went from affordable tocrippling. Transportation costs
rose as cities sprawled andpublic transport transit
withered under governmentneglect. A labor model shifted.
You asked a few other, you know,things in there. So, so what
(20:03):
you're saying though is that thethe composition of households
being transformed completely. In2024, food at home is no longer
33% of household spending. Formost families, it's five to 7%.
Housing now consumes 35 to 45%.
Health care is 50 to 25. Childcare for families with young
children can eat 20 to 40% oftheir household income. If you
keep Orshansky's logic, if youmaintain a principle that
(20:26):
poverty could be defined by theinverse of food's budget share,
but the update but update thefood share to reflect today's
reality, the multiplier is nolonger three, it becomes 16.
Which means if you measuredincome inadequacy today, the way
that Orshansky measured it in1963, the threshold for a family
of four wouldn't be 31,000. It'dbe somewhere between 130 and
(20:48):
$150,000.
And remember, Orshansky was onlytrying to define too little. She
was identifying crisis notsufficiency. If the crisis
threshold, the floor below whichfamilies cannot function, is
honestly updated to currentspending patterns, it lands at a
$140,000. What does that tellyou about the $31,200 line that
(21:09):
we still use? It tells you thatwe are measuring starvation.
And so he goes further into itand breaks down why exactly, he
says it's a 140,000, part partlybeing he this is this is kind of
the budget he he kind of looksat, looking at the average,
costs. Right? For, you know,using a conservative national
average data, child care,32,000, housing, 23,000, food,
(21:32):
14,000, transportation, 14,000,health care, you know, etcetera.
Once you bring in taxes, that'swhere he basically lands at
roughly around a 140,000. And sohe goes into more detail and
explains it.
It's a really worthwhile articleto read. But I think this
actually helps to explain thatconsumer sentiment level, but
(21:53):
also explain what I've seen intalking to a lot of Americans,
how are things going? And a lotof people I talk to, even people
that have good jobs or thattheir both parents are working,
they're just they're barelygetting by. Like, in a situation
where if their AC goes out, theydon't have $10,000 to go buy it,
replace that They're gonna beforced to finance it, and
(22:15):
they're gonna be paying, youknow, 7% on it. They're forced
to finance a car.
They're paying 9% on a car.They're forced to finance a
house, which they're, you know,paying, you know, 8% on a house.
So it's like something reallywrong is going on. But what are
your thoughts on what what doyou think about this guy's
ideas?
Speaker 2 (22:33):
Yeah. I I mean, I I think it makes a lot of sense. I
think that, you know, we talkedbefore we got on that I think
our parents I remember my dadmaking $100,000 a year in the
'80s, and it was like that was agood living in the '80s. And I
remember housing, we lived inLos Angeles, housing was 200 to
(22:56):
$500,000 for a house. So yeah,now it all makes sense if you
think about it.
If you're making 100, you canbuy a house, I think a great
house at that time was 500,000or 450,000, then you're right in
line. But now that same house inLos Angeles is 1,500,000.0,
(23:18):
1,200,000.0. And so the personmaking 300,000, as the gentleman
before was saying, that 40percent are living paycheck to
paycheck, those numbers equatebecause it's such a far gap now.
Housing was, as he said, itwasn't a big expense, and
(23:41):
insurance wasn't what it istoday on homeowners and health
and all of those things aremajor line items for everyone.
Yeah, so I think a lot of it isyou do have to sort of
restructure your thinking abouthow do we get to the numbers
that we need, and then whatthings can you do to protect
(24:05):
yourself against inflation?
And that's really what it is. Atthe end of the day, it's
inflation, right? That's whathe's talking about. The
inflation numbers for thepoverty line are wrong, that
they're using a statistic thatis not poverty line, that it's a
starvation line. And so what canyou do to keep up?
(24:28):
And look how gold and silverhave reacted in the last few
years. It makes sense thatthey've gone up the way that
they've gone up because they areinflation hedges. They're there
to protect you. And the nicething about them is that you're
(24:49):
buying them in total, right?You're not leveraging them like
every other purchase that peopleare having to make nowadays.
They're leveraging, if they haveto fix air conditioning, they're
borrowing and leveraging theirhouse. So it makes sense that
retail investors are buying goldand silver, that central banks,
(25:10):
you know, China's buying somuch, they bought, what,
thirteen months in a row ofgold. You know, silver has
really taken off. It's up over100%. This year, broke 60,
which, you know, in my books,silver's a new oil, I predicted
58 the first quarter of nextyear.
(25:32):
So it actually moved, I don'tknow if you remember when we
spoke last year in December, I'dhad a 58 as my number and people
thought I was nuts. I mean, evenmy friend, my really good
friend, read the book cover tocover in January and he said,
Wow, 58? Like you really? And Isaid, I don't know, I felt
(25:55):
comfortable at 58. Did I know itwas going to blow through 60?
No. And that's even withquantitative easing not even
starting, and which I believeit's going to start. I think
that I think when the new Fedchair is put in, and I know
President Trump has somebody inmind for the new Fed position
(26:16):
who's already said that he'sgoing be much more aggressive on
interest rates, and I'm assuminghe's going be much more
aggressive on dollar devaluationand getting more money out
there. It all makes sense whenyou look at these numbers that
gold and silver are a protectionagainst what everybody's dealing
(26:37):
with day to day.
Speaker 1 (26:38):
And I think that's a it's a really important point.
Well, actually, I'll pull up thechart really quickly here
because you mentioned, wascurious, like, okay, what was
silver at, say, January? And itwas right around $30, Right? So
that was a pretty ballsystatement to say, you think that
silver is gonna basically doublein one year, which rarely, you
(26:59):
know, like, it's, in many ways,unprecedented. And here, you can
see this is just in the past twoyears.
It's up 164%. Right? And, youknow, you're I agree with you
completely in looking at what isthis reflection of. Think, well,
it's a reflection of a lot ofthings, but I think it's also a
reflection of their A, they'relosing the ability to control
(27:20):
and manipulate the market.Right?
Because I think that silver andgold have oftentimes it's like
what David Jensen, one of myfavorite guests on this this
topic, has referred to thatthey're the canary in the coal
mine. And that, you know, afterwe took the dollar off the gold
standard in '71 and startedprinting, gold and silver
started spiking. So they builtthe LBMA to be able to use paper
silver to suppress the price andpaper gold to suppress the
(27:41):
prices. But those mechanisms arecracking now that people are
seeing through it, and you'reseeing this these silver
squeezes that are happening. Butit's just wild, though, that you
made that prediction.
And actually, just as we broughtup before we, started recording,
your book you hope you hope yourbook cover again really quickly
now? It's alright, silver is thenew oil, but here, this is wild.
(28:03):
So this is a post over on x.December 2025 is the first time
in recorded history that oneounce of silver is worth more
than one barrel of crude oil.Let that sink in.
I mean, this is wild. Yeah. Imean Yeah. What do you make of
that?
Speaker 2 (28:19):
Yeah. I mean, my book, Silver's a New Oil, really
was the idea is that it's it wassort of a wrap around silver's a
wrap around oil. Right? Likeit's not replacing it entirely,
it's just gonna supplement. Andso I think it's doing that.
I think it will continue to dothat. And it's just like all
(28:41):
these stats that are in my bookthat people just blew off for
many years, that we had a 150 toa 180,000,000 ounce silver
shortage for four years in arow. It was like, well, when is
that gonna you know, I rememberyou and I talked about this.
Like, what is that gonna show inthe price? When are we gonna see
that in the price?
(29:02):
So I think the recap for me of2025, there's some good
takeaways that people should bethinking of. One, it has in some
ways taken over some of the usesof oil. And, you know, when you
talk about, well, what does thatmean? Obviously, there's solar.
(29:24):
Obviously, there's the usage inelectric vehicles.
Silver plays an important partof that. But let's talk about
the new thing that everybody'stalking about is AI. And I think
the thing about AI that'sinteresting is that we don't
know in two to three years whatusage of AI is gonna be the most
important. But we do know thatfor AI to work, the information
(29:48):
needs to come into a datacenter. The data center that
they're building, you know, howmany of these they're building
all over the world.
And then that data center has tosend out the information. Now,
to do that, they have to keep itcool. Those data centers have to
be cool, right? Like yourcomputer, like it gets too hot,
it doesn't The data centers havethe same issue. Silver plays a
(30:13):
part in the data centers inkeeping it cool.
So I look at like, it's kindalike the gold rush, right? It's
like there's gonna be the peoplethat are gonna try to find the
gold, and then there's thepeople that sell the shovels.
And silver is the shovel. And Ithink that's the thing that
(30:35):
people need to realize is thateverything around it is what's
there. Because you know thatthat's gonna be around.
Whether it's gonna be AI isgonna be used in whatever
industry it's gonna be used in,they have to harness that into a
place and then spit it back out.That's why they're building so
many of these centers, andthat's why NVIDIA because the
(30:58):
chip, they need the chip, right?I mean, that's a big part of
this whole equation, but theyhave to keep the chip cool. They
have to keep those componentscool, otherwise they overheat.
Kinda like what happened in theCME over Thanksgiving.
Right? I mean, you saw that.Mysteriously, as silver's
running up to an all time high,the the CME is is basically shut
(31:23):
down for ten hours, and and theycan't do trades. And, you know,
there's a whole scandal aroundthat that basically over
Thanksgiving weekend, silvershooting up. The market is
offline because they had aglitch, and part of the glitch
they believe is overheatingglitch, and cooling issue.
(31:46):
But the thing that's funny aboutthis is that, like, any common
sense person would say, like,they have to have redundancy,
They have to have some otherplace, and they do, and they
didn't use it. So why would theybe offline when they have a
whole so so basically, I Ibelieve their center is in I
(32:07):
think the data center that thebig one is in Illinois. Their
backup is in New York. They haveit. It's ready to go.
They already knew that thiscould happen. And basically
their statement is that theythought it was gonna be like a
30 glitch, so they didn't thinkit was important. But what
happens after an hour? Whathappens after two hours? And so,
(32:28):
you know, I believe that therewas some kind of collusion there
that basically they saw theprice running.
Because when you woke up the dayafter Thanksgiving, silver was
up dollar $52. Who knows? Maybeit's up $5, but but they
couldn't trade. Nobody couldtrade. So I I think that is is
(32:50):
really telling of where theworld is going.
That this major exchange thathas redundancy, what had a
glitch because of cooling. Thinkabout what's gonna happen in the
next one, two, or three years ifthere's situations where they
have this where places overheat.There's gonna be whole systems,
(33:10):
AWS and all of these onlinesystems that will go down. So
wherever the AI use goes, silverhas to accompany it because they
need to keep those data centerscool, if that makes sense.
Speaker 1 (33:23):
Oh, perfect sense. So what do you think what do think
silver could go to? I know noone has a crystal ball, but I
guess maybe you did somehow inyour book, you had some sort of
crystal ball that allowed you tomake a pretty bold prediction
that has actually been exceededwith where we're at right now.
But because I think that thepeople I've talked to in my own
(33:45):
research, it's like, it could bea $100 an ounce. It could be far
more than that depending onSure.
You know, if it is a reflectionof the dollar and the dollar is
collapsing, the worn bricks andeverything that's happening
there, and there's a true pricediscovery, it's like you look at
what's happened. Well, they'vethe price artificially for
decades. So
Speaker 2 (34:06):
Right.
Speaker 1 (34:06):
What kind of momentum is, like, underneath of that
system is being held down, helddown? What happens if that
system breaks? Which the CMEevent makes me think it's an
indicator that the system isbreaking.
Speaker 2 (34:16):
Yeah. So I think there's a few things that I will
say is that one, a lot of themining conferences, I was
listening to the president ofthe Silver Institute, who,
owned, he was the CEO of one ofthe biggest silver mines before
he became the president of theSilver Institute. And he was
(34:37):
saying, the word on the streetin every conference this year
was something that he had neverheard before. And that was, you
need to take possession ofsilver. Interesting.
It's not contracts. And that'sverbatim. I saw him in an
interview a week ago and he wastalking about the word on the
(35:01):
street is take possessionbecause you don't want to be in
a contract situation. And sothen you think, well, how many
people that have contractsactually take possession? And
it's, you know, what would thenumber be?
And you think, oh, maybe it's10% or 15% or 20%. It's less
(35:21):
than 2%. So I think that's avery telling story in that if
he's saying take possession andless than 2% is actually taking
possession, what happens if itgoes to 5%? What happens if it
goes to 10%? There's alreadydelays.
(35:43):
They're not able to deliver. Ifyou have a silver contract,
you're not getting it in a week.You're getting it in three or
four weeks. And that's based ononly less than 2% actually
calling in the contract. Sowhere could it go?
Silver leasing prices duringThanksgiving and a month or two
(36:04):
before that hit record highs. Sobasically, they didn't have it.
They wanted to get it. And sothey had these leasing prices.
So they had to lease it to coverwhat they're supposed to do in
terms of their contracts.
The leasing prices at somepoints hit well above 30% above
the spot price. 30%. So thesecompanies are willing to pay 30%
(36:31):
above the current spot price toensure that they have inventory
because they don't have enough.So that's just, you know, that's
something to to kinda chew on.Well, so Yeah.
Sorry.
Speaker 1 (36:46):
Go ahead. I was gonna say a quick point. So you know
the the debt clock. Right? Youknow, think the world debt clock
dot I forget the exact Yeah.
But they have they have alisting of all the things. And
one thing that they show onthere is a silver, and gold to
paper ratio. You mentioned that,like, what about 2% of people
that have contracts are holdingthem. If you look at the actual
the entirety of the silver thepaper silver market, it stands
(37:08):
somewhere at around 357 to oneis the paper to silver ratio.
And so this is It's
Speaker 2 (37:14):
gone up a lot.
Speaker 1 (37:15):
Oh, this is insane. Right? So what this person here
is saying is that says this isthe the paper to physical ratio,
which is, what should be used tocalculate the true price. Paper
is no substitute for physical.The paper to silver ratio is 357
to one silver.
At the present moment, silvershould be 16,000 per ounce. You
(37:36):
know, it's looking at Britishpounds. And of course, it's not
gonna just jump to that.Because, you know, these paper
contracts are very complicated,you're getting into derivatives
and everything. But I think thethe the point here is that
they've used this paper marketto
Speaker 2 (37:50):
To suppress.
Speaker 1 (37:51):
To suppress it, and they convince people that, hey.
It's it's it's easier just tohold a contract, you know, like,
it's it's convenient. You cantrade it.
Speaker 2 (37:58):
You know, whatever. Sure.
Speaker 1 (37:59):
But, yeah, that's why I've like, I don't own any
silver contracts. Like, I justhave, you know, like, something
like, I can go bury it in mybackyard. Like, that's that's to
me what it means to ownsomething.
Speaker 2 (38:09):
And we've seen every collapse typically has a
derivative element to it. Right?I mean, the two thousand eight
collapse was a derivativecollapse. Right? Because they
kept selling the bonds over andover again, these bonds that
were backed, supposedly backedby good real estate debt.
(38:30):
But they went even fartherbecause they would resell it
multiple times. And that's whythere was eventually when the
contracts came due, wasn'tenough there. There wasn't
enough money too to back it. Andalso that debt was a lot worse.
It wasn't class A debt, right?
It was debt that was going tocome back to the banks and
(38:52):
that's what caused thathysteria. The same thing could
happen in the silver and goldmarket if we continue to ask for
it, if we continue to want it.And that's why I think the last
time on your show, came to thefor the first time in my whole
career, I have come to theconclusion that I do believe at
some point there will not beenough gold and silver for
(39:14):
retail investors to buy itthemselves. I do think
eventually central banks, COMEX,and, industrial use will take
over these metals that we youand I won't be you won't be able
to buy that. The mints won't beable to get it to buy it.
(39:36):
I I do think that's a that's areal possibility. Now, there
could be a little bit leftbecause of jewelry, right? And
so maybe you'll turn in yourgold and you'll melt it down or
your silver and you'll melt itdown. So there'll be some in
circulation that could getturned into a bar. But if a
company is willing to pay 30%over spot to lease it, if the
(39:59):
government needs silver fordrones and they're willing to
pay a premium, then maybe itwon't.
Maybe all this silver and goldthat gets messed down, it's
going to go to industrial use.So I actually have come to the
realization and it won't happenovernight, but I do think within
ten years, there will not bethat many gold and silver items
available to buy. I think thatpeople that own them now, if
(40:24):
they can hold them, they willfind out that eventually
there'll be a supply and demandissue with owning the real
stuff. And I think that thatwill create a scenario where
there'll be a premium above thespot price, which is, you know,
I think that'll create anamazing opportunity. Right now,
(40:44):
you're getting everything veryclose to the spot price, so
you're buying it at a discount,but I think that that will
switch eventually.
And we have seen that happen. Imean, you and I have talked
about Silver Eagles selling at$8 or $10 over the spot price.
If they can't make Silver Eaglesanymore, and the bars that are
coming out are shrinking, therewill be a premium above the spot
(41:07):
price for all these physicalitems, because people will still
want to own them. They'll stillwant to have them. So I think
that's pretty exciting.
And then the thing that I wouldsort of wrap this with is that
you have that idea of that solittle in contracts actually
being delivered. And then theother thing is the last sixty
days, China and The US have saidsilver is a strategic metal. And
(41:29):
when they say it's a strategicmetal, silver, they're saying
that they are gonna do whateverthey can to acquire it. They're
gonna do whatever they can tomine it. They're gonna do
whatever they can to keep it andthey're not gonna sell it.
And it's not as important forthe it's important for The US to
(41:50):
say that, basically saying thatit's important they need it, and
this is part of this Trump'smove towards ending
globalization too, right, likeus being more self sufficient,
this is the idea. But Chinasupplies a lot of the silver for
the world, and they're sayingnext year they don't want to do
that. So the world is gonna bereally going, well, if I can't
(42:13):
get it from China and if I can'tget it from The US, like where
am I gonna get silver? Sothere's gonna be shortages in
other places of the world. Andas more people, if more people
go this way, and they start tojust think about protecting
their own country, and we'reending this idea of shipping our
labor overseas because we thinkit's better and we're really
(42:33):
trying to bring everything backhome, a lot of the world is
gonna be doing the same thing.
Even Mexico, in theory, could doit. And most of the silver comes
out of Mexico. Who knows? Imean, if Mexico said that
they're not gonna ship silver,silver would go up, in my
opinion, 10 times its currentprice because so much silver
comes out of Mexico. And we sawthat happen during COVID because
(42:55):
the mines shut down in Mexicoand the price went crazy, right?
I mean, went from $13 to $28 insix months because we couldn't
get it from Mexico. We didn'thave enough here. So I think
these are things that peopleshould be watching as they were
starting to hoard the metals.The more you start to hoard the
metals, it becomes less readilyavailable for COMEX and
(43:16):
contracts and also for retailinvestors. And so I do think
there will be a time in thefuture that it will be nearly
impossible to buy for homeownership.
I think the big players aregonna buy the majority of it. So
whoever's left with it at thattime, you're gonna be in an
(43:38):
unbelievable position. And and Ithink the profit would be
something we've never seenbefore.
Speaker 1 (43:43):
Yeah. I I couldn't agree more. Even the past, like,
I bought some more silver at $53an ounce, I think. And I
remember at that time, wasthinking like, okay, Mike, am I
just drinking the Kool Aid here?You know, it's like, I'm really
trying to evaluate.
But then I look at now, it's upover $60. It's, you know, I'm
like, oh, okay. Great. Well,it's already up, you know, 10%
(44:04):
or something over that. Andthat's just, And I personally,
you know, look, you know,anything could happen, but based
upon all these factors, I don'tsee that changing.
So, Colin, as we're wrapping up,I will bring up we've got a
website, Gold With Seth. Ifanyone watching or listening, if
you're interested in moving someof your money over into gold and
(44:24):
silver, you know, Colin, histeam is the top. You whether
it's IRAs, even just, you know,direct cash purchases for
shipping, I hear nothing butpositive things from you, I've
had a great experience as one ofyour customers as well. So,
Colin, what do you recommend forpeople when they when they wanna
contact you if they'reinterested in buying some gold
or silver?
Speaker 2 (44:43):
Yeah. I I think the first thing to do is call, build
a relationship, you get arepresentative that's your
person. All, anyone you talk toat Noble Gold has a minimum of
five years experience inphysical metals. That's one of
the great things about ourcompany. We have over 95%
retention rate in terms ofemployees at Noble Gold.
(45:05):
So you're gonna get somebodythat not only owns gold and
silver, but has been doing thisfor a long time. I have some
people who have been doing itfor ten years. But you're gonna
get someone that understandsthis, that knows this, and
you're gonna ask a lot ofquestions, spend time. If you
wanna move forward, we do allthe paperwork for you. We could
walk you through how to move theIRA or old four zero one ks.
I think it's a good time becauseif you're gonna do something,
(45:28):
it's a good time at the end ofthe year to look at your
accounts, see where they're at,see if you got the performance
you wanted, see if you'rediversified. These are all good
questions. And, you know, at theend of the day, we focus on the
customer service. We focus onthe experience. And so if you
call us and want to just build arelationship with somebody that
this is all we do, I think it'sa great time.
(45:50):
And I promise you will be enjoythe experience you have with our
representatives, from theshipping to the storage. You
know, we're going to be here forthe life of, you know, however
you long own gold and silver.And really, this is what we do.
This is what we do every day. Welive and breathe this, and we
love it.
And I also think the one thingyou'll find is that it will be a
(46:12):
pleasurable and fun experience.Everyone that works for Noble
Gold is fun and happy, andthey're family people and
they're patriots, and theysupport your show. So it it it's
it's it's a relationship for us,and that's really what we focus
on.
Speaker 1 (46:27):
Which is which is key. I'll bring up the website
one more time, and I'll putthese these links in the
description, for the show. It'sgoldwithseth.com. The phone
number, (877) 646-5347. Colin,thanks for giving us your time.
Know you're a busy man. Iappreciate you coming on. And,
you know, our our next show maynot be until the New Year. We'll
(46:48):
see. But, you know, it's let's,yeah.
Hopefully, yeah. Everyone's yearfinishes strong, and, yeah.
There's a lot going on, but juststay focused on on what's good.
So, Colin Absolutely.
Speaker 2 (47:00):
Happy holidays. Yeah. And thank you and and looking
forward to seeing you next year.
Speaker 1 (47:04):
Alright, man. Thank you.
Welcome to Man in America, a voice of reason in a
world gone mad. I'm your host,Seth Holehouse. The average
American these days is notliving in what you'd call the
golden age. And maybe I'm overoverstating something here.
Maybe you are.
But everyone that I talk to, allthe data that I see is showing
(00:36):
that your average American isstruggling to get by. And it's
kind of tough because I feltthat we're being gaslit and
being told that we have thisgreat economy and all these
amazing things are happening.And, of course, there's some
good things going on in thecountry, but if you look at just
the day to day life and how manypeople are forced to put their
kids in the childcare so theycan work two jobs, how many
(00:57):
people are working, you know,both spouses are working,
they're working multiple jobs,even the amount of people that
are living paycheck to paycheck.It's kind of wild. But what's
really interesting is I cameacross an article recently that
really blew my mind.
So it's a guy named MichaelGreen, and this this sub sec
post he put went, like, megaviral. And if you search for it,
(01:18):
you see all kinds of news, youknow, articles analyzing it,
trying to debunk it. Basically,what he says here is that the
poverty line in America is notwhat we have been told. So what
they're saying is I think thepoverty line is somewhere around
31,000 officially. What he issaying though is that the
poverty line, based upon hiscalculations in America, should
(01:41):
be a 140,000.
Now when I first saw that, Ithought this there's no way.
This is absolutely nuts. Butactually, I read the article,
and you look at the informationhe's putting together, and it
makes a lot of sense. So this iscrazy to think that the poverty
line, according to his data,which I tend to agree with most
of what he's presenting, is140,000. It's over $10,000 a
(02:02):
month for your average Americanfamily, which is, you know, say
if a family is making $60,000 amonth, I remember growing up, I
think it was in the nineties, mydad was making $60,000 a month,
and my mom didn't have to work.
We had a decent home. I mean, itwasn't a mansion, but we lived
okay. And we had a couple cars,and it was very doable. These
(02:23):
days, if you're making $60,000 amonth, you're sharing a house
with somebody, you're renting anapartment, you know, two bedroom
apartment for $1,800. I mean,people are barely getting by.
But to me, it's just wild tothink that the poverty line
could be a $140,000. Like,what's wrong? What has gone
wrong in this country? Butwhat's crazy is that there's
(02:45):
more Americans living paycheckto paycheck now. I even saw a
stat from Goldman Sachs, whichwe'll cover in today's show,
that 40% of people making over$300,000 a year are living
paycheck to paycheck.
Now not because they're poor,but because maybe they're not
handling their money properly,but it's still an indicator of
something that's really off inthis country. If you look at
(03:06):
then also the skyrocketing debt,the skyrocketing defaults on
mortgages, car loans, etcetera,there's a picture here that
doesn't make sense, especiallyif you contrast it with the
stock market, which is at an alltime high. But amidst all of
this, you've got silver, whichis now over $60 an ounce at the
time of recording. So how doesthis all fit together? How does
(03:30):
this make sense?
What's really going on? And sojoining me today is my good
friend Colin Plume, the CEO ofNoble Gold, someone who
understands the ins and outs ofeconomics, but also understands
the mechanisms of the, you know,suppression of silver and gold
prices, how those play intothings, what's happening with
the central bank. So he brings areally broad, understanding of
(03:51):
what's happening. And so in thisshow today, we're gonna try to
dissect what's really going onin this country. Because one
thing I can tell you from my ownperspective is that what's
happening is not what they'retelling us.
There's something else going on,and I don't think it's a good
thing. So I hope you enjoy thisinterview with Colin. Before we
jump in, a few quick notes.First off, every show I do is a
(04:13):
podcast as well. So if you watchon the video on Rumble or
something, if you wanna listen,just go to your favorite podcast
app like Apple Podcasts orSpotify.
Search for Man in America. Youcan find me on there. And, also,
if you're watching on Rumble,thank you for supporting a free
speech platform. Rumble isliterally the single company
that has allowed me to do thisfull time and support my family
(04:35):
and bring this information toyou nonstop. Rumble has played
such an incredible role inhelping me because I'm I'm so
shadow banned on YouTube.
And, also, I only put, like, athird of my content on YouTube
anyway because I keep gettingstrikes on YouTube. So, anyway,
if you're watching on Rumble,thank you. Make sure you
subscribe to the channel. Makesure you hit the thumbs up
button, and leave a comment ifyou'd like to. And lastly, if
(04:55):
you love the show, please shareit with a friend.
Alright. Let's go and dive intothis interview with Colin Bloom.
Colin, it's great to have youback on the show. Thanks for
giving us your time today. I'mlooking forward to this
discussion.
Speaker 2 (05:07):
Yeah. Thanks, Seth. Nice to be here. And we're
coming up on the holidays, sogood time to check-in with you.
Speaker 1 (05:14):
Yeah. Yeah. There's there's a lot going on as usual.
But think that the one thingthat has really been weighing on
my mind a lot lately is justwhat life is like for the
average American. Right?
Because I think that we're beingvery gaslit. We're being told
that we're living in this greateconomy, the golden age. Yet if
(05:35):
you look at the actual numbers,it tells a different story. And
there's a few things that we'llbe touching on, one of them
being a kind of a perspective ofa revised poverty level, which I
think is really significant. Butmaybe we'll start with just
looking at consumer sentiment.
So if it's cool with you, I'llbring up an article on that, and
we can just kinda help get usgoing. So this is an article,
(05:56):
this is actually from lastmonth, but you talk about
consumer sentiment in November,saying consumer sentiment
plunged in November to nearrecord lows. So it says that
consumer sentiment plunged tonew record lows in November as
the slowing job market, stubborninflation, and the government
shutdown post increasingproblems for president Trump.
And they said that the theUniversity of Michigan consumer
(06:18):
sentiment index dropped to 50.3%or to 50.3% in November,
according to data released lastFriday, down from 53% last month
and 71% a year ago. So that'skind of crazy, it was at 71% a
year ago.
It says that the Novemberconsumer sentiment reading was
(06:38):
the worst since the record lowof 50 in June 2022, which came
near the peak of the postpandemic inflation surge. So, I
mean, this is this is reallyimportant because, like, this is
a reflection of what life islike for the average American.
And, like, what I'm seeing,like, I'm looking at my energy
(07:00):
bill, look at the cost ofgroceries. It just like, the
story I'm hearing over and overagain is that people are living
paycheck to paycheck. But,anyway, how do you interpret
this?
Speaker 2 (07:11):
Yeah. I mean, I think a lot of government jobs have
been lost. I think a lot of Csuite jobs have been lost.
They're not coming back. A lotof businesses have leaned out in
terms of staff.
(07:32):
So, think you have this overall,like, people that had these
jobs, sort of comfortable jobsthat they thought they would
have for the foreseeable futureare no longer there. And that's,
I think that's the tough partwhen you go through this big
change in the economy and howthings are going. You do have an
(07:53):
AI effect. The change in howpeople are spending money and
spending their time has changeda lot. So, you know, it doesn't
surprise me that the sentimentis low.
Think that the interesting thingis people that I know that have
gone through this and are stillemployed feel very confident
(08:17):
because they actually felt, thesentiment that I've gotten a lot
from people is that a lot of thepeople that were having those
jobs were not doing work. Theyweren't. And when you're at a
company and you have a lot ofpeople that aren't doing work or
aren't hitting their targets, itbrings the whole company down.
(08:39):
You know, I own, you know, I ownfour businesses. I have monthly
bonuses at every businessbecause I think that people
should get paid.
If we have a good month, you geta piece of the whole pie. And so
what I found is that as we didsome layoffs earlier this year,
we just kind of leaned out insome positions we didn't have
(09:01):
either, that the rest of thestaff was actually relieved. And
they felt great about the factthat there was just a lot of
people that weren't helping themachieve their goals. Or I had
one employee say that there wastwo people in her department, I
went to one person, and that oneperson said, I'm more efficient
(09:21):
now because the other personslowed me down. And so I think
there's, I think the sentimentis, you know, you're taking a
poll of a lot of people thatwere in jobs that weren't really
doing a lot of work.
And I think this is the new agewhere you have to require
employees to be involved in thewhole growth and sustainability
(09:44):
of a company. Whereas before, Ithink people just thought like,
oh, I'll just, it's a company,it doesn't matter how the
company's doing, I'm just gonnahave a job.
Speaker 1 (09:55):
Clock in and I'll clock
Speaker 2 (09:57):
clock in and clock out. And now it's like, now that
we have more data, likecompanies are saying like every
position has a sort of a goal,right? And we have that at our
companies. Like every departmenthas a different goal. Whether
it's a sales goal or even thepeople that pick up the phone,
(10:18):
we have goals for them, thatthey need to interact in a
certain way with people, andthey need to get to calls
quicker, and they need to have,and we do surveys.
So there's all these newtechnology that's like trying to
see how people are working. Andso I think what's happening is
that part of the sentiment isthat people are realizing you
(10:40):
just can't go to a job and then,you know, fall asleep for nine
hours, that you actively have tobe involved. And if your company
is not growing, you will nolonger have a job. And I think
that's a new mindset. And Ithink that's part of the reason
the sentiment down.
I think the other reason isjust, you know, the the stock
market's gone up, but it hasn'tgone up as much as gold and
(11:03):
silver and some of the otherinvestments. Real estate is
still in tough place. It hasn'trecovered yet, even though
they've dropped interest ratestwice this year, right? Maybe
there's a third one on thehorizon. So I think there's a
lot of people that are stuck intheir home, maybe got laid off
(11:23):
from a job, and now they'retrying to figure out, like,
what's my next career?
What's my next job? And theyrealize that whatever that next
job is, is that they're going tohave to quantify the value that
they're bringing to that companyor that business. And I think
that's a new we're sort of in anew world where, you know, for
the last fifty years, you justwent to college and got a degree
(11:45):
in something and you want towork at a company and you can
make enough money to survive,those days are gone. That normal
income, that $60,000 $70,000 jobis not as easy as it used to be
and it isn't just going to getthrown out to anybody. I mean,
they're really, every company islooking at every position really
closely.
And so I think the sentiment is,you know, do I have the right
(12:07):
skills, and am I adding value toa company? And if I'm not, what
do I have to do to do that? Andthat's why we're seeing a
resurgence in trade jobs andplumbers and all these that
like, it's very quantifiable ifa plumber goes to your house and
they don't fix your toilet, thenthey don't get paid, right?
Well, I mean, I've had someplumbers that still try to get
(12:28):
paid, but they shouldn't getpaid, if if you know what I'm
saying. I think there's a numberof things happening, and I think
it's affecting the consumersentiment.
But also that is, it'sinteresting because you have
that and then you have the stockmarket still at an all time
high, and those two thingsusually don't correlate either.
Like usually if the sentiment'slow then the stock market's
(12:49):
pulled back and that hasn'thappened. So there's interest if
you look at the data, it's itthat a lot of the data just
doesn't make sense right now.
Speaker 1 (12:57):
It it doesn't. You're right. It's really confusing.
And, actually, here's anotherpiece of data. It's interesting.
According to Goldman Sachs,they're saying that 40% of those
earning over $300,000 annuallyare living paycheck to paycheck.
And this is crazy. Now you couldsay that obviously, I think
that's that some part of this,you could blame on inflation. I
would argue that people that aremaking over $300,000 that aren't
(13:19):
saving any money, they're livingpaycheck to paycheck, it's
probably poor lifestyle. Right?
Like, actually, they saylifestyle inflation eating away
excess income as people upgradehousing, cars, vacations, or
maintain maintain high fixedcosts, even seemingly large
paychecks end up coveringbasics. I think that's also, you
know, there's something wrongwith the average American person
that's in that, you know, kindof bracket. But, again, it's
(13:42):
it's show it's showing ussomething's really off though in
the country.
Speaker 2 (13:46):
Yeah. 300 k in today's world, you should not be
leasing a car. And I know, like,it seems like, well, I want a
new car every year. Youshouldn't be. You know, I have
people all the time that ask mequestions about things.
And, you know, I remember when Istarted the business and we were
(14:07):
growing and, you know, Iremember hitting that 300 ks
mark and thinking like, I said,this isn't a lot of money. I
mean, it's a lot, but it's not ahuge amount of money that I
should lease, get a 600 or $700a month lease. Now those leases,
because of interest rates, I'veseen people that are in trucks,
(14:27):
they're spending a thousanddollars a month. If you're
spending a thousand dollars amonth on a lease, you should be
your income should be well abovehalf 1,000,000. Well above.
But I think people that aremaking 300,000 are buying those
and leasing those. And and, itdoesn't make sense. The cars are
made better today than they'veever been made. Why not buy a
(14:50):
car? Why not buy a used car?
Get away from that payment. Sothere's a lot of people that are
just, their lifestyles are goingup and up, and they're buying
the wrong assets, right? Likethat car, when you buy that used
car, it's just like, okay, Ineed to have a car, I can run
this thing for ten years plus,I'm gonna secure a payment, pay
it off for four or five years,and then I got five years of no
payments. That's the smart wayto do it. But people are like,
(15:15):
you know, everyone's like, Igotta get a new car, I gotta get
the new Tesla, or I gotta, andyou know, I see Teslas
everywhere now and I will alwayswonder, and they're always the
new Teslas, I'm like, two areyear old Teslas?
Don't those still run? They, ofcourse, they advertise more
mileage and distance, but mostpeople are not driving 200 miles
a day. I mean, it's irrelevantto them. So I think that there's
(15:38):
like, I do see the spendingcreeping as people make a little
bit more. They're not likeputting more money in their
retirement.
They're not buying more assets.They're just just buying more
stuff. And so that 300 k numberis not shocking me. And as much
as it should be shocking, I'mnot shocked by that by that
number.
Speaker 1 (15:57):
Yeah, you make some good points there. And also, it
probably has to do just with theoverall psychology of people,
like, in thinking that maybepeople aren't seeing much hope
for the future, right? So it'smuch more of mentality of, well,
I've got it and just kinda takeyou kinda enjoy it while I've
got it. Right? Which is also nota good thing.
I wanna, I wanna pivot to thisarticle because I think this
(16:20):
also helps helps explain a lotof this that I mentioned. And
this this, went this is aSubstack post by a guy named
Michael Green. And this went,like, mega viral over the past
week and a half or so. And whathe says and I'm not gonna read
the whole thing. It's a longarticle, but I'll read a few
paragraphs that really help makesense of it.
But basically, what he's sayingwith this is that he believes
(16:42):
that the new the poverty levelof 2025 should be closer to
$140,000 Basically saying thatthat's kind of cutoff. So say
you're making a $100,000, you'reactually living below poverty
level. So I'll read, a fewparagraphs here that just helps,
helps to outline his researchand where he came to this from.
(17:06):
So let me I'll read this righthere. It says, how a broken
benchmark quietly broke America.
I've spent my career distrustingthe obvious. Markets, liquidity,
factor models, none of theseever felt self evident to me.
Markets are mechanisms of priceclearing. Mechanisms have
parameters. Parameters distortoutcomes.
This is a lens through which Ilearned to see everything. Find
the parameter, find thedistortion, find the
(17:27):
opportunity. But there was onenumber I'd somehow never
interrogated. One number that Isimply accepted the way a child
accepts gravity, the povertyline. I don't know why it seemed
apolitical, an actual actuarialfact calculated by serious
people in government offices, aline someone else drew decades
ago that we used to define whois poor, who is middle class,
(17:48):
and who deserves help.
It was infrastructure,invisible, unquestioned,
foundational. This week, whiletrying to understand why the
American middle class feelspoorer each year despite healthy
GDP growth and low unemployment,I came across a sentence buried
in a research paper. The USpoverty line is calculated as
three times the cost of aminimum food diet in 1963,
(18:10):
adjusted for inflation. I readit again, three times the
minimum food budget, I feltsick. So here he's gonna get
into like kind of actually howhe came up with this number.
The measurement failure. Theformula was developed by Molly
Orszanski, an economist at theSocial Security Administration.
In 1963, she observed thatfamilies spent roughly one third
of their income on groceries.Since pricing data was hard to
(18:33):
come by for many items, likehousing, if you could calculate
a minimum adequate food budgetat the grocery store, you could
multiply by three and establisha poverty line. Orchansky was
careful about what she wasmeasuring.
In her 01/06/1965 article, shepresented that poverty
thresholds are as a measure ofincome inadequacy, not income
adequacy. This is quote, it'snot if it's not possible to stay
(18:56):
unequivocally how much isenough, it should be possible to
assert with confidence how muchon average is too little. So she
was drawing a floor, a linebelow which families were
clearly in crisis. For 63, thatfloor made sense. Housing was
relatively cheap.
A family could rent a decentapartment or buy a home on a
single income. As we'vediscussed, health care was
(19:16):
provided by employers and costrelatively little. Blue Cross
averaged $10 a month. Child caredidn't really exist as a market.
Mother stayed home.
Family helped or neighbors wholikely had someone home watched
each other's kids. Cars wereaffordable, etcetera, etcetera.
So we continue here, he says,but everything changed between
1963 and 2024. Housing costsexploded. Healthcare became the
(19:40):
largest household expense formany families.
Employer coverage shrank whiledeductibles grew. Childcare
became a market and that marketbecame ruinously expensive.
College went from affordable tocrippling. Transportation costs
rose as cities sprawled andpublic transport transit
withered under governmentneglect. A labor model shifted.
You asked a few other, you know,things in there. So, so what
(20:03):
you're saying though is that thethe composition of households
being transformed completely. In2024, food at home is no longer
33% of household spending. Formost families, it's five to 7%.
Housing now consumes 35 to 45%.
Health care is 50 to 25. Childcare for families with young
children can eat 20 to 40% oftheir household income. If you
keep Orshansky's logic, if youmaintain a principle that
(20:26):
poverty could be defined by theinverse of food's budget share,
but the update but update thefood share to reflect today's
reality, the multiplier is nolonger three, it becomes 16.
Which means if you measuredincome inadequacy today, the way
that Orshansky measured it in1963, the threshold for a family
of four wouldn't be 31,000. It'dbe somewhere between 130 and
(20:48):
$150,000.
And remember, Orshansky was onlytrying to define too little. She
was identifying crisis notsufficiency. If the crisis
threshold, the floor below whichfamilies cannot function, is
honestly updated to currentspending patterns, it lands at a
$140,000. What does that tellyou about the $31,200 line that
(21:09):
we still use? It tells you thatwe are measuring starvation.
And so he goes further into itand breaks down why exactly, he
says it's a 140,000, part partlybeing he this is this is kind of
the budget he he kind of looksat, looking at the average,
costs. Right? For, you know,using a conservative national
average data, child care,32,000, housing, 23,000, food,
(21:32):
14,000, transportation, 14,000,health care, you know, etcetera.
Once you bring in taxes, that'swhere he basically lands at
roughly around a 140,000. And sohe goes into more detail and
explains it.
It's a really worthwhile articleto read. But I think this
actually helps to explain thatconsumer sentiment level, but
(21:53):
also explain what I've seen intalking to a lot of Americans,
how are things going? And a lotof people I talk to, even people
that have good jobs or thattheir both parents are working,
they're just they're barelygetting by. Like, in a situation
where if their AC goes out, theydon't have $10,000 to go buy it,
replace that They're gonna beforced to finance it, and
(22:15):
they're gonna be paying, youknow, 7% on it. They're forced
to finance a car.
They're paying 9% on a car.They're forced to finance a
house, which they're, you know,paying, you know, 8% on a house.
So it's like something reallywrong is going on. But what are
your thoughts on what what doyou think about this guy's
ideas?
Speaker 2 (22:33):
Yeah. I I mean, I I think it makes a lot of sense. I
think that, you know, we talkedbefore we got on that I think
our parents I remember my dadmaking $100,000 a year in the
'80s, and it was like that was agood living in the '80s. And I
remember housing, we lived inLos Angeles, housing was 200 to
(22:56):
$500,000 for a house. So yeah,now it all makes sense if you
think about it.
If you're making 100, you canbuy a house, I think a great
house at that time was 500,000or 450,000, then you're right in
line. But now that same house inLos Angeles is 1,500,000.0,
(23:18):
1,200,000.0. And so the personmaking 300,000, as the gentleman
before was saying, that 40percent are living paycheck to
paycheck, those numbers equatebecause it's such a far gap now.
Housing was, as he said, itwasn't a big expense, and
(23:41):
insurance wasn't what it istoday on homeowners and health
and all of those things aremajor line items for everyone.
Yeah, so I think a lot of it isyou do have to sort of
restructure your thinking abouthow do we get to the numbers
that we need, and then whatthings can you do to protect
(24:05):
yourself against inflation?
And that's really what it is. Atthe end of the day, it's
inflation, right? That's whathe's talking about. The
inflation numbers for thepoverty line are wrong, that
they're using a statistic thatis not poverty line, that it's a
starvation line. And so what canyou do to keep up?
(24:28):
And look how gold and silverhave reacted in the last few
years. It makes sense thatthey've gone up the way that
they've gone up because they areinflation hedges. They're there
to protect you. And the nicething about them is that you're
(24:49):
buying them in total, right?You're not leveraging them like
every other purchase that peopleare having to make nowadays.
They're leveraging, if they haveto fix air conditioning, they're
borrowing and leveraging theirhouse. So it makes sense that
retail investors are buying goldand silver, that central banks,
(25:10):
you know, China's buying somuch, they bought, what,
thirteen months in a row ofgold. You know, silver has
really taken off. It's up over100%. This year, broke 60,
which, you know, in my books,silver's a new oil, I predicted
58 the first quarter of nextyear.
(25:32):
So it actually moved, I don'tknow if you remember when we
spoke last year in December, I'dhad a 58 as my number and people
thought I was nuts. I mean, evenmy friend, my really good
friend, read the book cover tocover in January and he said,
Wow, 58? Like you really? And Isaid, I don't know, I felt
(25:55):
comfortable at 58. Did I know itwas going to blow through 60?
No. And that's even withquantitative easing not even
starting, and which I believeit's going to start. I think
that I think when the new Fedchair is put in, and I know
President Trump has somebody inmind for the new Fed position
(26:16):
who's already said that he'sgoing be much more aggressive on
interest rates, and I'm assuminghe's going be much more
aggressive on dollar devaluationand getting more money out
there. It all makes sense whenyou look at these numbers that
gold and silver are a protectionagainst what everybody's dealing
(26:37):
with day to day.
Speaker 1 (26:38):
And I think that's a it's a really important point.
Well, actually, I'll pull up thechart really quickly here
because you mentioned, wascurious, like, okay, what was
silver at, say, January? And itwas right around $30, Right? So
that was a pretty ballsystatement to say, you think that
silver is gonna basically doublein one year, which rarely, you
(26:59):
know, like, it's, in many ways,unprecedented. And here, you can
see this is just in the past twoyears.
It's up 164%. Right? And, youknow, you're I agree with you
completely in looking at what isthis reflection of. Think, well,
it's a reflection of a lot ofthings, but I think it's also a
reflection of their A, they'relosing the ability to control
(27:20):
and manipulate the market.Right?
Because I think that silver andgold have oftentimes it's like
what David Jensen, one of myfavorite guests on this this
topic, has referred to thatthey're the canary in the coal
mine. And that, you know, afterwe took the dollar off the gold
standard in '71 and startedprinting, gold and silver
started spiking. So they builtthe LBMA to be able to use paper
silver to suppress the price andpaper gold to suppress the
(27:41):
prices. But those mechanisms arecracking now that people are
seeing through it, and you'reseeing this these silver
squeezes that are happening. Butit's just wild, though, that you
made that prediction.
And actually, just as we broughtup before we, started recording,
your book you hope you hope yourbook cover again really quickly
now? It's alright, silver is thenew oil, but here, this is wild.
(28:03):
So this is a post over on x.December 2025 is the first time
in recorded history that oneounce of silver is worth more
than one barrel of crude oil.Let that sink in.
I mean, this is wild. Yeah. Imean Yeah. What do you make of
that?
Speaker 2 (28:19):
Yeah. I mean, my book, Silver's a New Oil, really
was the idea is that it's it wassort of a wrap around silver's a
wrap around oil. Right? Likeit's not replacing it entirely,
it's just gonna supplement. Andso I think it's doing that.
I think it will continue to dothat. And it's just like all
(28:41):
these stats that are in my bookthat people just blew off for
many years, that we had a 150 toa 180,000,000 ounce silver
shortage for four years in arow. It was like, well, when is
that gonna you know, I rememberyou and I talked about this.
Like, what is that gonna show inthe price? When are we gonna see
that in the price?
(29:02):
So I think the recap for me of2025, there's some good
takeaways that people should bethinking of. One, it has in some
ways taken over some of the usesof oil. And, you know, when you
talk about, well, what does thatmean? Obviously, there's solar.
(29:24):
Obviously, there's the usage inelectric vehicles.
Silver plays an important partof that. But let's talk about
the new thing that everybody'stalking about is AI. And I think
the thing about AI that'sinteresting is that we don't
know in two to three years whatusage of AI is gonna be the most
important. But we do know thatfor AI to work, the information
(29:48):
needs to come into a datacenter. The data center that
they're building, you know, howmany of these they're building
all over the world.
And then that data center has tosend out the information. Now,
to do that, they have to keep itcool. Those data centers have to
be cool, right? Like yourcomputer, like it gets too hot,
it doesn't The data centers havethe same issue. Silver plays a
(30:13):
part in the data centers inkeeping it cool.
So I look at like, it's kindalike the gold rush, right? It's
like there's gonna be the peoplethat are gonna try to find the
gold, and then there's thepeople that sell the shovels.
And silver is the shovel. And Ithink that's the thing that
(30:35):
people need to realize is thateverything around it is what's
there. Because you know thatthat's gonna be around.
Whether it's gonna be AI isgonna be used in whatever
industry it's gonna be used in,they have to harness that into a
place and then spit it back out.That's why they're building so
many of these centers, andthat's why NVIDIA because the
(30:58):
chip, they need the chip, right?I mean, that's a big part of
this whole equation, but theyhave to keep the chip cool. They
have to keep those componentscool, otherwise they overheat.
Kinda like what happened in theCME over Thanksgiving.
Right? I mean, you saw that.Mysteriously, as silver's
running up to an all time high,the the CME is is basically shut
(31:23):
down for ten hours, and and theycan't do trades. And, you know,
there's a whole scandal aroundthat that basically over
Thanksgiving weekend, silvershooting up. The market is
offline because they had aglitch, and part of the glitch
they believe is overheatingglitch, and cooling issue.
(31:46):
But the thing that's funny aboutthis is that, like, any common
sense person would say, like,they have to have redundancy,
They have to have some otherplace, and they do, and they
didn't use it. So why would theybe offline when they have a
whole so so basically, I Ibelieve their center is in I
(32:07):
think the data center that thebig one is in Illinois. Their
backup is in New York. They haveit. It's ready to go.
They already knew that thiscould happen. And basically
their statement is that theythought it was gonna be like a
30 glitch, so they didn't thinkit was important. But what
happens after an hour? Whathappens after two hours? And so,
(32:28):
you know, I believe that therewas some kind of collusion there
that basically they saw theprice running.
Because when you woke up the dayafter Thanksgiving, silver was
up dollar $52. Who knows? Maybeit's up $5, but but they
couldn't trade. Nobody couldtrade. So I I think that is is
(32:50):
really telling of where theworld is going.
That this major exchange thathas redundancy, what had a
glitch because of cooling. Thinkabout what's gonna happen in the
next one, two, or three years ifthere's situations where they
have this where places overheat.There's gonna be whole systems,
(33:10):
AWS and all of these onlinesystems that will go down. So
wherever the AI use goes, silverhas to accompany it because they
need to keep those data centerscool, if that makes sense.
Speaker 1 (33:23):
Oh, perfect sense. So what do you think what do think
silver could go to? I know noone has a crystal ball, but I
guess maybe you did somehow inyour book, you had some sort of
crystal ball that allowed you tomake a pretty bold prediction
that has actually been exceededwith where we're at right now.
But because I think that thepeople I've talked to in my own
(33:45):
research, it's like, it could bea $100 an ounce. It could be far
more than that depending onSure.
You know, if it is a reflectionof the dollar and the dollar is
collapsing, the worn bricks andeverything that's happening
there, and there's a true pricediscovery, it's like you look at
what's happened. Well, they'vethe price artificially for
decades. So
Speaker 2 (34:06):
Right.
Speaker 1 (34:06):
What kind of momentum is, like, underneath of that
system is being held down, helddown? What happens if that
system breaks? Which the CMEevent makes me think it's an
indicator that the system isbreaking.
Speaker 2 (34:16):
Yeah. So I think there's a few things that I will
say is that one, a lot of themining conferences, I was
listening to the president ofthe Silver Institute, who,
owned, he was the CEO of one ofthe biggest silver mines before
he became the president of theSilver Institute. And he was
(34:37):
saying, the word on the streetin every conference this year
was something that he had neverheard before. And that was, you
need to take possession ofsilver. Interesting.
It's not contracts. And that'sverbatim. I saw him in an
interview a week ago and he wastalking about the word on the
(35:01):
street is take possessionbecause you don't want to be in
a contract situation. And sothen you think, well, how many
people that have contractsactually take possession? And
it's, you know, what would thenumber be?
And you think, oh, maybe it's10% or 15% or 20%. It's less
(35:21):
than 2%. So I think that's avery telling story in that if
he's saying take possession andless than 2% is actually taking
possession, what happens if itgoes to 5%? What happens if it
goes to 10%? There's alreadydelays.
(35:43):
They're not able to deliver. Ifyou have a silver contract,
you're not getting it in a week.You're getting it in three or
four weeks. And that's based ononly less than 2% actually
calling in the contract. Sowhere could it go?
Silver leasing prices duringThanksgiving and a month or two
(36:04):
before that hit record highs. Sobasically, they didn't have it.
They wanted to get it. And sothey had these leasing prices.
So they had to lease it to coverwhat they're supposed to do in
terms of their contracts.
The leasing prices at somepoints hit well above 30% above
the spot price. 30%. So thesecompanies are willing to pay 30%
(36:31):
above the current spot price toensure that they have inventory
because they don't have enough.So that's just, you know, that's
something to to kinda chew on.Well, so Yeah.
Sorry.
Speaker 1 (36:46):
Go ahead. I was gonna say a quick point. So you know
the the debt clock. Right? Youknow, think the world debt clock
dot I forget the exact Yeah.
But they have they have alisting of all the things. And
one thing that they show onthere is a silver, and gold to
paper ratio. You mentioned that,like, what about 2% of people
that have contracts are holdingthem. If you look at the actual
the entirety of the silver thepaper silver market, it stands
(37:08):
somewhere at around 357 to oneis the paper to silver ratio.
And so this is It's
Speaker 2 (37:14):
gone up a lot.
Speaker 1 (37:15):
Oh, this is insane. Right? So what this person here
is saying is that says this isthe the paper to physical ratio,
which is, what should be used tocalculate the true price. Paper
is no substitute for physical.The paper to silver ratio is 357
to one silver.
At the present moment, silvershould be 16,000 per ounce. You
(37:36):
know, it's looking at Britishpounds. And of course, it's not
gonna just jump to that.Because, you know, these paper
contracts are very complicated,you're getting into derivatives
and everything. But I think thethe the point here is that
they've used this paper marketto
Speaker 2 (37:50):
To suppress.
Speaker 1 (37:51):
To suppress it, and they convince people that, hey.
It's it's it's easier just tohold a contract, you know, like,
it's it's convenient. You cantrade it.
Speaker 2 (37:58):
You know, whatever. Sure.
Speaker 1 (37:59):
But, yeah, that's why I've like, I don't own any
silver contracts. Like, I justhave, you know, like, something
like, I can go bury it in mybackyard. Like, that's that's to
me what it means to ownsomething.
Speaker 2 (38:09):
And we've seen every collapse typically has a
derivative element to it. Right?I mean, the two thousand eight
collapse was a derivativecollapse. Right? Because they
kept selling the bonds over andover again, these bonds that
were backed, supposedly backedby good real estate debt.
(38:30):
But they went even fartherbecause they would resell it
multiple times. And that's whythere was eventually when the
contracts came due, wasn'tenough there. There wasn't
enough money too to back it. Andalso that debt was a lot worse.
It wasn't class A debt, right?
It was debt that was going tocome back to the banks and
(38:52):
that's what caused thathysteria. The same thing could
happen in the silver and goldmarket if we continue to ask for
it, if we continue to want it.And that's why I think the last
time on your show, came to thefor the first time in my whole
career, I have come to theconclusion that I do believe at
some point there will not beenough gold and silver for
(39:14):
retail investors to buy itthemselves. I do think
eventually central banks, COMEX,and, industrial use will take
over these metals that we youand I won't be you won't be able
to buy that. The mints won't beable to get it to buy it.
(39:36):
I I do think that's a that's areal possibility. Now, there
could be a little bit leftbecause of jewelry, right? And
so maybe you'll turn in yourgold and you'll melt it down or
your silver and you'll melt itdown. So there'll be some in
circulation that could getturned into a bar. But if a
company is willing to pay 30%over spot to lease it, if the
(39:59):
government needs silver fordrones and they're willing to
pay a premium, then maybe itwon't.
Maybe all this silver and goldthat gets messed down, it's
going to go to industrial use.So I actually have come to the
realization and it won't happenovernight, but I do think within
ten years, there will not bethat many gold and silver items
available to buy. I think thatpeople that own them now, if
(40:24):
they can hold them, they willfind out that eventually
there'll be a supply and demandissue with owning the real
stuff. And I think that thatwill create a scenario where
there'll be a premium above thespot price, which is, you know,
I think that'll create anamazing opportunity. Right now,
(40:44):
you're getting everything veryclose to the spot price, so
you're buying it at a discount,but I think that that will
switch eventually.
And we have seen that happen. Imean, you and I have talked
about Silver Eagles selling at$8 or $10 over the spot price.
If they can't make Silver Eaglesanymore, and the bars that are
coming out are shrinking, therewill be a premium above the spot
(41:07):
price for all these physicalitems, because people will still
want to own them. They'll stillwant to have them. So I think
that's pretty exciting.
And then the thing that I wouldsort of wrap this with is that
you have that idea of that solittle in contracts actually
being delivered. And then theother thing is the last sixty
days, China and The US have saidsilver is a strategic metal. And
(41:29):
when they say it's a strategicmetal, silver, they're saying
that they are gonna do whateverthey can to acquire it. They're
gonna do whatever they can tomine it. They're gonna do
whatever they can to keep it andthey're not gonna sell it.
And it's not as important forthe it's important for The US to
(41:50):
say that, basically saying thatit's important they need it, and
this is part of this Trump'smove towards ending
globalization too, right, likeus being more self sufficient,
this is the idea. But Chinasupplies a lot of the silver for
the world, and they're sayingnext year they don't want to do
that. So the world is gonna bereally going, well, if I can't
(42:13):
get it from China and if I can'tget it from The US, like where
am I gonna get silver? Sothere's gonna be shortages in
other places of the world. Andas more people, if more people
go this way, and they start tojust think about protecting
their own country, and we'reending this idea of shipping our
labor overseas because we thinkit's better and we're really
(42:33):
trying to bring everything backhome, a lot of the world is
gonna be doing the same thing.
Even Mexico, in theory, could doit. And most of the silver comes
out of Mexico. Who knows? Imean, if Mexico said that
they're not gonna ship silver,silver would go up, in my
opinion, 10 times its currentprice because so much silver
comes out of Mexico. And we sawthat happen during COVID because
(42:55):
the mines shut down in Mexicoand the price went crazy, right?
I mean, went from $13 to $28 insix months because we couldn't
get it from Mexico. We didn'thave enough here. So I think
these are things that peopleshould be watching as they were
starting to hoard the metals.The more you start to hoard the
metals, it becomes less readilyavailable for COMEX and
(43:16):
contracts and also for retailinvestors. And so I do think
there will be a time in thefuture that it will be nearly
impossible to buy for homeownership.
I think the big players aregonna buy the majority of it. So
whoever's left with it at thattime, you're gonna be in an
(43:38):
unbelievable position. And and Ithink the profit would be
something we've never seenbefore.
Speaker 1 (43:43):
Yeah. I I couldn't agree more. Even the past, like,
I bought some more silver at $53an ounce, I think. And I
remember at that time, wasthinking like, okay, Mike, am I
just drinking the Kool Aid here?You know, it's like, I'm really
trying to evaluate.
But then I look at now, it's upover $60. It's, you know, I'm
like, oh, okay. Great. Well,it's already up, you know, 10%
(44:04):
or something over that. Andthat's just, And I personally,
you know, look, you know,anything could happen, but based
upon all these factors, I don'tsee that changing.
So, Colin, as we're wrapping up,I will bring up we've got a
website, Gold With Seth. Ifanyone watching or listening, if
you're interested in moving someof your money over into gold and
(44:24):
silver, you know, Colin, histeam is the top. You whether
it's IRAs, even just, you know,direct cash purchases for
shipping, I hear nothing butpositive things from you, I've
had a great experience as one ofyour customers as well. So,
Colin, what do you recommend forpeople when they when they wanna
contact you if they'reinterested in buying some gold
or silver?
Speaker 2 (44:43):
Yeah. I I think the first thing to do is call, build
a relationship, you get arepresentative that's your
person. All, anyone you talk toat Noble Gold has a minimum of
five years experience inphysical metals. That's one of
the great things about ourcompany. We have over 95%
retention rate in terms ofemployees at Noble Gold.
(45:05):
So you're gonna get somebodythat not only owns gold and
silver, but has been doing thisfor a long time. I have some
people who have been doing itfor ten years. But you're gonna
get someone that understandsthis, that knows this, and
you're gonna ask a lot ofquestions, spend time. If you
wanna move forward, we do allthe paperwork for you. We could
walk you through how to move theIRA or old four zero one ks.
I think it's a good time becauseif you're gonna do something,
(45:28):
it's a good time at the end ofthe year to look at your
accounts, see where they're at,see if you got the performance
you wanted, see if you'rediversified. These are all good
questions. And, you know, at theend of the day, we focus on the
customer service. We focus onthe experience. And so if you
call us and want to just build arelationship with somebody that
this is all we do, I think it'sa great time.
(45:50):
And I promise you will be enjoythe experience you have with our
representatives, from theshipping to the storage. You
know, we're going to be here forthe life of, you know, however
you long own gold and silver.And really, this is what we do.
This is what we do every day. Welive and breathe this, and we
love it.
And I also think the one thingyou'll find is that it will be a
(46:12):
pleasurable and fun experience.Everyone that works for Noble
Gold is fun and happy, andthey're family people and
they're patriots, and theysupport your show. So it it it's
it's it's a relationship for us,and that's really what we focus
on.
Speaker 1 (46:27):
Which is which is key. I'll bring up the website
one more time, and I'll putthese these links in the
description, for the show. It'sgoldwithseth.com. The phone
number, (877) 646-5347. Colin,thanks for giving us your time.
Know you're a busy man. Iappreciate you coming on. And,
you know, our our next show maynot be until the New Year. We'll
(46:48):
see. But, you know, it's let's,yeah.
Hopefully, yeah. Everyone's yearfinishes strong, and, yeah.
There's a lot going on, but juststay focused on on what's good.
So, Colin Absolutely.
Speaker 2 (47:00):
Happy holidays. Yeah. And thank you and and looking
forward to seeing you next year.
Speaker 1 (47:04):
Alright, man. Thank you.
Popular Podcasts
Two Guys, Five Rings: Matt, Bowen & The Olympics
Two Guys (Bowen Yang and Matt Rogers). Five Rings (you know, from the Olympics logo). One essential podcast for the 2026 Milan-Cortina Winter Olympics. Bowen Yang (SNL, Wicked) and Matt Rogers (Palm Royale, No Good Deed) of Las Culturistas are back for a second season of Two Guys, Five Rings, a collaboration with NBC Sports and iHeartRadio. In this 15-episode event, Bowen and Matt discuss the top storylines, obsess over Italian culture, and find out what really goes on in the Olympic Village.
iHeartOlympics: The Latest
Listen to the latest news from the 2026 Winter Olympics.
Milan Cortina Winter Olympics
The 2026 Winter Olympics in Milan Cortina are here and have everyone talking. iHeartPodcasts is buzzing with content in honor of the XXV Winter Olympics We’re bringing you episodes from a variety of iHeartPodcast shows to help you keep up with the action. Follow Milan Cortina Winter Olympics so you don’t miss any coverage of the 2026 Winter Olympics, and if you like what you hear, be sure to follow each Podcast in the feed for more great content from iHeartPodcasts.