September 25, 2025 • 11 mins
LEAR CAPITAL'S JOHN OHANESIAN JOINS ME TO TALK ABOUT GOLD'S RECENT RUN I got the chance to meet with John and not only is he super fascinating we got into a very interesting conversation about gold that I thought you'd find interesting too. Find out more about gold and Lear Capital by clicking here.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Fairly recently, I had a chance to sit down with
the CEO of Lear Capital because we were talking about
doing a partnership, which obviously, if you guys have heard
the commercials, we are doing that partnership. And one of
the reasons that I wanted to move forward with that
was my meeting with John Ohanessian. He is the CEO
of Lear Capital and first of all, super cool dude,
(00:20):
just straight across the board. We had a wonderful time
at dinner, but we also had a great conversation about
gold and silver. And I know that you guys, especially
if you are savvy investors and you're up to speed
on inflation because we talk about it all the time
on the show. But there's some things happening right now
that are kind of like in the news newsworthy about
(00:40):
gold and silver that you need to pay attention to.
Now I'm going to allow you to make your own
investment advice, but it's like things that I see in
the news that I'm paying attention to are what's happening
with gold and silver. And I am now obsessed with
small nuclear reactors. We'll talk about that at another time,
but joining me now is John to talk about some
of that stuff that's going on. John, Welcome to the show.
Speaker 2 (01:01):
First of all, may thank you for having a pleasure
to be here.
Speaker 1 (01:07):
So I want to start talking about sort of the
news that it's out there if you're looking for it,
but it's kind of flying a little bit under the radar.
And that is what's happening with central banks around the world.
They are buying gold right now, and for me, that
says they know something I don't know that they are
continuing to worry about inflation and a falling dollar and
(01:30):
things of that nature. What is your take on that.
Speaker 2 (01:34):
I think you're spot on, but I think they know
what we see. We see a lot of turmoil around
the world. You have the Middle East crisis which has
been going on for a while now. You have Ukraine obviously,
and we also have you know, the South of China
Sea with Taiwan potentially and China. But beyond that, you know, governments,
not just the US, but governments around the globe have
(01:56):
extreme debt. And since we are a dollar base global
currency society, if you will, what they're doing is you're
de risking their position. They want to take on currency,
in this case gold and also silver, frankly, but gold
and silver, and they want to be positions so that
they are not as much at risk. The dollar this
(02:18):
year since January is down ten percent, and since one
year ago I was in I landed October third of
last year in France for a vacation. The dollars since
then is down eighteen percent. It was one to one
with the euro a year ago. So it's worthless. And
so not only are central banks, of course, as you
(02:38):
reference buying it up, you have consumers and that's what's
driving the two or driving the price. This year alone,
golds up forty one percent on Monday. This past Monday,
a couple of days ago, hit an all time high
of over thirty seven hundred dollars. Silver this year, as
I said, is up fifty percent. Is that a fourteen
(02:59):
year high? We believe, we think, based upon experts out
there in the marketplace, that silver could get to forty
percent more, maybe up to seventy dollars from it's forty
five dollars today. And there were many other experts Goldman Sachs, Morgan, Stanley,
JP Morgan and others who think gold this year the
year's almost over, will get They thought thirty eight. Now
(03:21):
they think four thousand an ounce and next year some
believe it could get as high by year end next
year to five thousand announces. So a lot is going on,
as you said, globally, and that's was driving the price.
The last thing I want to mention quickly on that
point is if the fear of missing out, think back
for those that will to nineteen seventy nine when we
(03:43):
had the oil crisis, because what was going on in
Iran at the time, an inflation was off the chart
seventeen eighteen nineteen percent. Gold was only then at the
beginning of that year around low three hundreds. They got
up to over five hundred dollars and an that's over
a sixty percent move. So don't be surprised that if
(04:04):
you see goals and silver containue to make the moves
that's been making, not just the balance of this year,
but well into next year.
Speaker 1 (04:11):
Well, I mean, John, this goes to show that one
of the things I worry about, and this may be
like too big of a geopolitical question when it pertains
to gold, but one of the things that I think
about is, you know, there are moves with the brick
nations you've got China and Russia and that group of
nations together. They are trying to undermine the dollars reserve status,
(04:32):
right because as it gets easier to trade electronically, the
role of the US dollar could be dramastically, drastically downgraded.
And that's honestly what concerns me is what happens if
we lose reserve currency status or if that reserve currency status,
which honestly has probably propped up the dollar more than
it deserves at this moment, what happens then you.
Speaker 2 (04:55):
Know, well, you're a spot on that it has up
up the dollars value, the reserve currency status. But you'll
look at what Chinese doing. China, you mentioned central banks,
China's probably buying up more gold than the hand of
central bank around the globe because what they want to do,
they hope to do over the future, sometime over the future,
(05:18):
is make the wand their currency ultimately replacing the dollar
as the reserve currency globally. And that's the battle, and
that's the fight. And you have the bricks nations, as
you've referenced, and more of coming to get is probably
nine or ten. Now it's part of bricks you mentioned
the big ones China, Russia, South Africa, Brazil, but there
are others and they're in tentem trying to make that happen.
(05:39):
And China's aligning, you know, That's what's part of the
reason we have these trade issues and these trade battles.
We're trying to reposition China's standing so that we have
a more balanced playing field for the US and for
the dollar. But it's a fight, the fight, no without question.
And as a result central banks buying up Goold.
Speaker 1 (05:58):
Well and just I mean, has pegged its currency artificially.
So there's like a whole other We'll have that whole
other set of conversations at a later date, John, But
let's talk about silver for a minute. Because silver and
here's a question from our Common Spirit Health Tech line
at five sixty six, and I know if you have
a question you can text in HI. My question is
about the value of silver. It seems to be less
(06:19):
than two percent. What gold is right now? What has
it been traditionally years past, and why is it being
suppressed so much if it is undervalue? Let's start with
the history of silver, because John and I were talking
off the air kind of about why silver is doing
to do it up. Let's start a little bit with
that history question.
Speaker 2 (06:37):
Okay, okay, So first off, typically, historically the relationship between
silver and gold is sixty five to one. Right now
it's ninety to one. So silver, just based upon that
theory alone, silver has another forty to forty five percent
to move up versus gold. Assuming gold stands still. Silver
(06:58):
is an industrial element, is into a lot of manufacturing globally,
solar panels, vehicles, phones, and if you think about it,
for those who may not know, of all the mines,
of all the mining in the world, of all the mines,
only twenty percent are dedicated to silver. The other eighty
(07:18):
percent are dedicated to other elements that they're mining out
of the ground. And so when they're pulling all out,
oh by the way, we got some silver too. Okay.
So there's not a big focus on but there needs
to be because of the industrial usage. And so when
you look at silver and gold, gold's always been the darling, right,
always been the darling you hear talk about most often
(07:40):
on news on financial markets. But silver's making a run
and people are going to have to take a serious
look at I think I shared with you I had
someone call me this morning, a personal friend who wants
to buy more goals, and after we have the conversation
about that, I shared with them why he might consider
silver for the very reasons I deserve of articulated here,
and he pivoted it. He's okay, No, you're right, I'm
(08:02):
buying more silver. I'm not recommending that people, you know,
go out and buy silver versus goalser the other way around,
but they definitely need to consider it. It's a real opportunity.
Today it's forty five almost forty five dollars an ounce.
There are many out there who believe it'll get the
seventy dollars an ounce in the next six months.
Speaker 1 (08:18):
You know, John, when I started doing your commercials, I
got an email from someone who said, Mandy, be careful
about giving someone investment advice. And I would never tell
anybody what stocks to buy or anything like that. But
in my view, gold and silver is a different kind
of investment because it's not one you're looking to buy
and you know, ride a quick wave and then sell.
It is a long term situation. Correct.
Speaker 2 (08:42):
Absolutely, we recommend if you look at other thought leaders
out there, we recommend you're holding your goals and silver
purchases for at least three to five years, upwards of
five to ten years, because you're not going to make
a quick buck. Typically you're holding it as a store
of value and a form of diversification. That's the key here, diversification.
(09:05):
So if your portfolio has X in it, you really
don't want more than say fifteen twenty percent, Although just
last week Jeff Gunnlof came out, a well known economist
investment advisor and said twenty five percent. I'm not going there. Okay,
I'm telling you what others are saying. Are a much
more expert than we are sometimes and you want to
(09:27):
use the long term hold that question and you're diversifying. Well.
Speaker 1 (09:31):
John Owens then from Lear Capital, is my guest, and John,
before I let you go, I mean, they're one of
the things that I actually had someone email me. They're like,
where am I going to put gold in my house?
And it's going to be safe? And I was like, well,
there's a lot of different ways that you can invest
in gold without having to buy yourself a Fort Knox
safe correct.
Speaker 2 (09:51):
Correct, So a couple of different ways. If you choose
to buy the hard middle ours coins, whatever, might be
bully on and not put it at home. You can
put it in your safe deposit box. You can know
those depository. There are depositories around the country, very safe
depositories where a lot of our customers store their product.
If you're going to have it at home, definitely have
(10:11):
it in a fireproof safe or your safe deposit you know,
a box at your bank.
Speaker 1 (10:17):
So underneath my mattress not a good plan.
Speaker 2 (10:19):
It does leave lost.
Speaker 1 (10:20):
John, Yeah, all.
Speaker 2 (10:20):
Those gold cars. I have a mattress. John.
Speaker 1 (10:23):
I would strongly recommend if people have more questions lear capital.
They know all of this stuff and they can help
you figure out what's going to work for you, what's
going to work for your portfolio, what's going to work
for diversification. I have a friend and I'm just going
to this is just an anecdotal story. So this was
two thousand and five or two thousand and six and
(10:44):
a young she was very young, she was in her
early twenties at the time, and she decided to buy
some gold coins and buy some gold bullion. And a
year later she was like, this stuff hasn't gone up
very much at all. And now fast forward to today,
she's very happy with that investment that she still has.
(11:05):
So it's like a gold is a patient investment, but
it's also it is in terms of a solid investment,
both literally and figuratively. K It's a good one, John Ohennessey,
and thank you for making time for me today.
Speaker 2 (11:18):
Thank you, Mandy. Pleasure to be here. Thank you guys.
Speaker 1 (11:21):
Find a link to lear Capital on my blog at
mandy'sblog dot com, or just give them a call. Eight
hundred and nine nine two twenty two fifty five
Fairly recently, I had a chance to sit down with
the CEO of Lear Capital because we were talking about
doing a partnership, which obviously, if you guys have heard
the commercials, we are doing that partnership. And one of
the reasons that I wanted to move forward with that
was my meeting with John Ohanessian. He is the CEO
of Lear Capital and first of all, super cool dude,
(00:20):
just straight across the board. We had a wonderful time
at dinner, but we also had a great conversation about
gold and silver. And I know that you guys, especially
if you are savvy investors and you're up to speed
on inflation because we talk about it all the time
on the show. But there's some things happening right now
that are kind of like in the news newsworthy about
(00:40):
gold and silver that you need to pay attention to.
Now I'm going to allow you to make your own
investment advice, but it's like things that I see in
the news that I'm paying attention to are what's happening
with gold and silver. And I am now obsessed with
small nuclear reactors. We'll talk about that at another time,
but joining me now is John to talk about some
of that stuff that's going on. John, Welcome to the show.
Speaker 2 (01:01):
First of all, may thank you for having a pleasure
to be here.
Speaker 1 (01:07):
So I want to start talking about sort of the
news that it's out there if you're looking for it,
but it's kind of flying a little bit under the radar.
And that is what's happening with central banks around the world.
They are buying gold right now, and for me, that
says they know something I don't know that they are
continuing to worry about inflation and a falling dollar and
(01:30):
things of that nature. What is your take on that.
Speaker 2 (01:34):
I think you're spot on, but I think they know
what we see. We see a lot of turmoil around
the world. You have the Middle East crisis which has
been going on for a while now. You have Ukraine obviously,
and we also have you know, the South of China
Sea with Taiwan potentially and China. But beyond that, you know, governments,
not just the US, but governments around the globe have
(01:56):
extreme debt. And since we are a dollar base global
currency society, if you will, what they're doing is you're
de risking their position. They want to take on currency,
in this case gold and also silver, frankly, but gold
and silver, and they want to be positions so that
they are not as much at risk. The dollar this
(02:18):
year since January is down ten percent, and since one
year ago I was in I landed October third of
last year in France for a vacation. The dollars since
then is down eighteen percent. It was one to one
with the euro a year ago. So it's worthless. And
so not only are central banks, of course, as you
(02:38):
reference buying it up, you have consumers and that's what's
driving the two or driving the price. This year alone,
golds up forty one percent on Monday. This past Monday,
a couple of days ago, hit an all time high
of over thirty seven hundred dollars. Silver this year, as
I said, is up fifty percent. Is that a fourteen
(02:59):
year high? We believe, we think, based upon experts out
there in the marketplace, that silver could get to forty
percent more, maybe up to seventy dollars from it's forty
five dollars today. And there were many other experts Goldman Sachs, Morgan, Stanley,
JP Morgan and others who think gold this year the
year's almost over, will get They thought thirty eight. Now
(03:21):
they think four thousand an ounce and next year some
believe it could get as high by year end next
year to five thousand announces. So a lot is going on,
as you said, globally, and that's was driving the price.
The last thing I want to mention quickly on that
point is if the fear of missing out, think back
for those that will to nineteen seventy nine when we
(03:43):
had the oil crisis, because what was going on in
Iran at the time, an inflation was off the chart
seventeen eighteen nineteen percent. Gold was only then at the
beginning of that year around low three hundreds. They got
up to over five hundred dollars and an that's over
a sixty percent move. So don't be surprised that if
(04:04):
you see goals and silver containue to make the moves
that's been making, not just the balance of this year,
but well into next year.
Speaker 1 (04:11):
Well, I mean, John, this goes to show that one
of the things I worry about, and this may be
like too big of a geopolitical question when it pertains
to gold, but one of the things that I think
about is, you know, there are moves with the brick
nations you've got China and Russia and that group of
nations together. They are trying to undermine the dollars reserve status,
(04:32):
right because as it gets easier to trade electronically, the
role of the US dollar could be dramastically, drastically downgraded.
And that's honestly what concerns me is what happens if
we lose reserve currency status or if that reserve currency status,
which honestly has probably propped up the dollar more than
it deserves at this moment, what happens then you.
Speaker 2 (04:55):
Know, well, you're a spot on that it has up
up the dollars value, the reserve currency status. But you'll
look at what Chinese doing. China, you mentioned central banks,
China's probably buying up more gold than the hand of
central bank around the globe because what they want to do,
they hope to do over the future, sometime over the future,
(05:18):
is make the wand their currency ultimately replacing the dollar
as the reserve currency globally. And that's the battle, and
that's the fight. And you have the bricks nations, as
you've referenced, and more of coming to get is probably
nine or ten. Now it's part of bricks you mentioned
the big ones China, Russia, South Africa, Brazil, but there
are others and they're in tentem trying to make that happen.
(05:39):
And China's aligning, you know, That's what's part of the
reason we have these trade issues and these trade battles.
We're trying to reposition China's standing so that we have
a more balanced playing field for the US and for
the dollar. But it's a fight, the fight, no without question.
And as a result central banks buying up Goold.
Speaker 1 (05:58):
Well and just I mean, has pegged its currency artificially.
So there's like a whole other We'll have that whole
other set of conversations at a later date, John, But
let's talk about silver for a minute. Because silver and
here's a question from our Common Spirit Health Tech line
at five sixty six, and I know if you have
a question you can text in HI. My question is
about the value of silver. It seems to be less
(06:19):
than two percent. What gold is right now? What has
it been traditionally years past, and why is it being
suppressed so much if it is undervalue? Let's start with
the history of silver, because John and I were talking
off the air kind of about why silver is doing
to do it up. Let's start a little bit with
that history question.
Speaker 2 (06:37):
Okay, okay, So first off, typically, historically the relationship between
silver and gold is sixty five to one. Right now
it's ninety to one. So silver, just based upon that
theory alone, silver has another forty to forty five percent
to move up versus gold. Assuming gold stands still. Silver
(06:58):
is an industrial element, is into a lot of manufacturing globally,
solar panels, vehicles, phones, and if you think about it,
for those who may not know, of all the mines,
of all the mining in the world, of all the mines,
only twenty percent are dedicated to silver. The other eighty
(07:18):
percent are dedicated to other elements that they're mining out
of the ground. And so when they're pulling all out,
oh by the way, we got some silver too. Okay.
So there's not a big focus on but there needs
to be because of the industrial usage. And so when
you look at silver and gold, gold's always been the darling, right,
always been the darling you hear talk about most often
(07:40):
on news on financial markets. But silver's making a run
and people are going to have to take a serious
look at I think I shared with you I had
someone call me this morning, a personal friend who wants
to buy more goals, and after we have the conversation
about that, I shared with them why he might consider
silver for the very reasons I deserve of articulated here,
and he pivoted it. He's okay, No, you're right, I'm
(08:02):
buying more silver. I'm not recommending that people, you know,
go out and buy silver versus goalser the other way around,
but they definitely need to consider it. It's a real opportunity.
Today it's forty five almost forty five dollars an ounce.
There are many out there who believe it'll get the
seventy dollars an ounce in the next six months.
Speaker 1 (08:18):
You know, John, when I started doing your commercials, I
got an email from someone who said, Mandy, be careful
about giving someone investment advice. And I would never tell
anybody what stocks to buy or anything like that. But
in my view, gold and silver is a different kind
of investment because it's not one you're looking to buy
and you know, ride a quick wave and then sell.
It is a long term situation. Correct.
Speaker 2 (08:42):
Absolutely, we recommend if you look at other thought leaders
out there, we recommend you're holding your goals and silver
purchases for at least three to five years, upwards of
five to ten years, because you're not going to make
a quick buck. Typically you're holding it as a store
of value and a form of diversification. That's the key here, diversification.
(09:05):
So if your portfolio has X in it, you really
don't want more than say fifteen twenty percent, Although just
last week Jeff Gunnlof came out, a well known economist
investment advisor and said twenty five percent. I'm not going there. Okay,
I'm telling you what others are saying. Are a much
more expert than we are sometimes and you want to
(09:27):
use the long term hold that question and you're diversifying. Well.
Speaker 1 (09:31):
John Owens then from Lear Capital, is my guest, and John,
before I let you go, I mean, they're one of
the things that I actually had someone email me. They're like,
where am I going to put gold in my house?
And it's going to be safe? And I was like, well,
there's a lot of different ways that you can invest
in gold without having to buy yourself a Fort Knox
safe correct.
Speaker 2 (09:51):
Correct, So a couple of different ways. If you choose
to buy the hard middle ours coins, whatever, might be
bully on and not put it at home. You can
put it in your safe deposit box. You can know
those depository. There are depositories around the country, very safe
depositories where a lot of our customers store their product.
If you're going to have it at home, definitely have
(10:11):
it in a fireproof safe or your safe deposit you know,
a box at your bank.
Speaker 1 (10:17):
So underneath my mattress not a good plan.
Speaker 2 (10:19):
It does leave lost.
Speaker 1 (10:20):
John, Yeah, all.
Speaker 2 (10:20):
Those gold cars. I have a mattress. John.
Speaker 1 (10:23):
I would strongly recommend if people have more questions lear capital.
They know all of this stuff and they can help
you figure out what's going to work for you, what's
going to work for your portfolio, what's going to work
for diversification. I have a friend and I'm just going
to this is just an anecdotal story. So this was
two thousand and five or two thousand and six and
(10:44):
a young she was very young, she was in her
early twenties at the time, and she decided to buy
some gold coins and buy some gold bullion. And a
year later she was like, this stuff hasn't gone up
very much at all. And now fast forward to today,
she's very happy with that investment that she still has.
(11:05):
So it's like a gold is a patient investment, but
it's also it is in terms of a solid investment,
both literally and figuratively. K It's a good one, John Ohennessey,
and thank you for making time for me today.
Speaker 2 (11:18):
Thank you, Mandy. Pleasure to be here. Thank you guys.
Speaker 1 (11:21):
Find a link to lear Capital on my blog at
mandy'sblog dot com, or just give them a call. Eight
hundred and nine nine two twenty two fifty five
The Mandy Connell Podcast News
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.