One of America’s Biggest Gold Wholesalers Exposes the Most Common Gold Scam Enslaving the Country
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What is the main topic discussed in this episode?
Gold and silver prices are out of control. Have you seen this? Have you checked the spot price for gold? It is at an all-time high in world history.
How has gold withstood the test of time?
Why is that? Well, because it's the new global reserve currency. That's why countries are moving away from the dollar. And they're doing that because our national debt is exploding. The dollar has been used as a diplomatic weapon. And in general confidence, we say this with great sadness in our financial system is collapsing. People know something is wrong and they're looking for safety and gold and silver, but precious metals broadly collapse. have been a reliable store of value since the beginning of recorded history. And people know that. They're tangible. They can hold in their hands what they own. And in moments like this, they want to. So gold is more important than it's ever been. No, it's not an ancient phenomenon.
It's a very modern phenomenon. And for the time being, it's the future. So we were not surprised when multiple gold companies reached out to offer us money in one case, nearly $20 million a year to pitch their products. And we're totally for it. We love gold. We've always felt that way about gold.
Who is buying gold and why?
So why wouldn't we work for a gold company? But $20 million to market gold? Wait a second. Isn't gold a commodity whose price is set on the international market? Can't you check it anytime you want on your phone? How could these companies afford to spend $20 million on one guy for one year of selling their product? Well, the answer is obvious because it was a total scam. They weren't selling gold as a commodity. They were selling it to customers based on the promise that it had real value, but they were selling it for like twice its actual value. They were come up with gimmicky schemes like, oh, it's a commemorative coin. No, no, no. Gold is a commodity. And almost all of the time, the value of your gold coin is the weight of the gold in it.
It's not whatever image is printed on the coin. So they're ripping people off. And what was happening, what is happening right now is that people, a lot of them old people, are buying these commemorative coins for like 150% of the spot price. And then when they try and sell them, they realize they can't get their money back. They've been scammed. These companies are making a ton of money and that's why they could afford to offer me 20 million bucks a year. We wanted no part of this at all. Wouldn't mind the 20 million bucks, but we turned it down because that's wrong. So instead we thought, wait a second, this country needs an actual retail gold company that sells a couple points above spot for overhead, but in a transparent way and makes it easy for people, average people to buy gold and have delivered to their homes if they want.
physical delivery.
What are the risks associated with buying gold?
So we decided to do that. We reached out to one of the biggest gold wholesalers in the country, someone we had mutual friends with, and we found we could trust, a man called Christopher Olson. We've been buying gold for him for years, actually. And together, we launched a new company called Battalion Metals. It's a truly honest gold company.
What is the difference between silver and gold?
We're not going to say the only, but definitely one of the few that gives ordinary people, investors, full transparency and the lowest markups possible. Few people know as much about precious metals or have traded in them as long as Christopher Olson has. No one in this space operates with greater integrity. He's an amazing guy with an encyclopedic knowledge of the topic. He's been in it his whole life. We recently sat down with him where he shared some of his insights that every investor, big or small, should hear. We think especially now that gold buyers have been vindicated. Boy, have they been. It's crushed the stock market over the last 20 years. We think now you will find this conversation especially interesting and we hope valuable.
Just to note the obvious, this video was pre-recorded. So the values we assigned to gold are set by the markets, the spot price, and they were accurate when we recorded them.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:09
2
How has gold withstood the test of time?
0:09–1:14
3
Who is buying gold and why?
1:14–2:56
4
What are the risks associated with buying gold?
2:56–3:16
5
What is the difference between silver and gold?
3:16–6:10
6
How do gold scams operate in the market?
6:10–11:40
7
What are the common misconceptions about gold investments?
11:40–18:24
8
How does the gold market impact the economy?
18:24–1:39:34
Speakers
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