➡ Dan from I allegedly interviews Jack, CEO of Patriot Gold, to discuss concerns on the global economy, including instability in the stock market, rising interest rates and their impact on stock performance and home purchases, and rampant inflation. Jack emphasizes the significance of assets like gold for financial safety in volatile times, and draw parallels with the economic situation in the 1970s.
➡ Patriot Gold Group, which has been Consumer Affairs’ top-rated entity for seven years, boasts top-notch customer services, with individuals like Dan and Dick Morris being long-term clients. Their business model challenges traditional currencies by converting gold and silver into various global currencies, aided by the projected downfall of the U.S. dollar, and anticipates precious metals to increase in value. The impending switch to widespread electric vehicular use, which needs silver, spells a great demand for silver, with increased usage in technologies, and Patriot Gold Group is recommended for facilitating the acquisition of these metals, even offering a no-fee-for-life IRA for qualifying rollovers.
➡ The text discusses the benefits of investing in precious metals such as silver and gold, especially within a retirement account or IRA. It highlights factors such as secured and insured storage of the metals, potential astronomical returns, based on historical performance, and the implications of increasing national debt. Additionally, the selling of shares by the CEO of a major bank draws speculation regarding the stability of banks. The company, Patriot Gold Group, receives high praise for its customer service, trustworthy operation, and informative approach. The text ends with the implication of gold’s potential value in uncertain financial times and an encouragement to protect retirement by investing in physical metals.

Hey, it’s Dan. Welcome back. You’re watching I allegedly and got a real treat for you back by popular demand. You guys have asked for him, Jack, the CEO of Patriot Gold. We’re going to talk the economy, we’re going to talk gold, we’re going to talk the stock market. We’re going to talk a little bit of everything right now. So, Jack, thanks for being here. Well, thank you for having me.

There’s a lot to cover this week with what’s going going on not only in the world with two wars, central bank gold purchases BRICS back in August in Johannesburg, as well as just the recent pullback in the stock market this week and the Fed meeting next. Yeah, absolutely. Let’s start with the stock market. Jack, with the stock market and the instability of everything going on globally right now, I really want your input on where you think things are at, where you think they’re headed.

Well, there’s a few things to cover. Now, I’m not a certified financial investment advisor, nor do I give tax advice, but we were encouraging clients to consider. There’s a famous quote Mark Twain, history doesn’t repeat itself, but it often rhymes. And just a few months ago, we were informing clients that September and October historically, are the worst performing months for stocks. If you look at 1929 or Black Monday, 1987, both of those happened in October.

If you look at September 11, of course, and Lehman Brothers both happened in September. Now, just last week, the stock market had its most significant decline since February. Since February. And what most investors don’t realize, say you have a share of a stock that’s $200 a share, and it pulls back 50%, and now it’s $100 a share. Now, if it gains 50%, that share goes to $150 a share, not $200 a share.

Exactly. So when it pulls back 50%, it now needs to gain 100% in order for you to be made whole 100%. So just this week, Google pulled back 10%. Now, earnings were coming in with Google, Meta, Amazon, they were crushing earnings. Meanwhile, Meta pulled back 7%, google pulled back 10%. So what we’re seeing here with the Feds having raised interest rates now eleven times since January of 2020, 211 times, we’ve gone from 0% interest rates to five and a quarter percent interest rates.

I mean, we see it with the 30 year fixed mortgages. Absolutely. Here we are standing in front of a beautiful home that if you were upper middle class, you could purchase for your family. Millennials baby boomers were purchasing homes. The cost of home ownership has now more than tripled because of interest rates. But in regards to the stock market, there’s a lot of concerns. JP. Morgan and Jamie Dimon were warning about the storm clouds on the horizon, and Larry Fink of BlackRock and Jamie Dimon of JPMorgan just said this week that this is eerily reminiscent of 1970s stagflation.

Absolutely, yeah. With the high inflation, the robust employment, and what we’re looking at is a stagflationary period and the low demand. You’re going to see problems with this because people need to get themselves into something that is going to be safe, something that is going to be stable. And I just think that we are in a really volatile time right now. And real estate right now, when you think about this, the average house payment has gone up 163% since 2020.

You have basically two lifetimes of increases in property values. And we saw that in a three year period. It’s crazy because of limited inventory. And now a 30 year fix has gone from 2. 75 to now. Mortgages are as high as over 8%. If you’re self employed or you don’t have the perfect credit, or your husband’s self employed and you have a job and you’re getting w, two, these people are well above 8% right now.

Very, very common. And the average house payment went from basically $2,000 a month to $4,000 a month. And you’re seeing people that are just completely priced out of the market, to say the least. Yeah, it’s unaffordable. And as a matter of fact, not only the payment on a mortgage, but back in 2020, a gallon of gas was about $2. 30 a gallon. I went and I filled up my car the other day.

It was $6. 50 a gallon. Oh, that’s crazy. 650. So what happened was this administration, when it took office, its very first act was canceling the Keystone Pipeline permit, and it took away our energy independence. Now, what has resulted from that? Well, you have Saudi Arabia, Russia and Iran that were exporting oil and making more money than they’d ever made before, which really facilitated and enabled Russia then to invade Ukraine and Iran to fund Israel.

And what’s going on with Hamas and the war in Israel right now, and Saudi Arabia. And then when they imposed the sanctions on Russia, what happened was the development of BRICS, which is an alternative basket based currency to challenge the US. Dollar as the dominant reserve currency. You know, they had the BRICS summit in Johannesburg in August. 6 additional countries joined the BRICS nations, and most notably the UAE.

So you have the United Arab Emirates and Saudi Arabia, along with Russia, India, China and South Africa, and Brazil now with a basket based currency, which is comprised of if you look at the population, the GDP, and the land mass of those now eleven countries, it’s over half the world challenging the US dollar. In fact, Donald Trump said the US dollar losing its reserve currency status will be our greatest defeat in over 200 years.

Wow. So you have that going on, as well as concerns over the stock market, concerns with housing. They call this Bidenomics the price per gas energy independence. I mean, there’s just so much. It’s the perfect storm for physical gold and silver. And another thing is, in the last three years, your buying power for the average American has gone. We’ve lost 23. 4% of our buying power. So inflation is through the roof.

You can talk about yesterday. We heard about how inflation got up an additional three tenths of 1%. It is through the roof right now, and the average person cannot afford this. That means if you have $100,000 in the bank, if it’s lost 23. 4% purchasing power, that means $100,000 that you had in the bank a year ago now has the purchasing power of, say, $77,000. That’s what’s happened to your US.

Dollar. Yeah, we’re witnessing this, though, and people don’t want to oh, it’ll turn around. It’ll turn around. It’s just getting worse, guys. It’s just getting worse. Right before our eyes, the most dangerous words on Wall Street are, this time it’s different. Now, I also want to mention about the performance of gold in the 1970s. So if you have Jamie Dimon of J. P. Morgan, okay, and you have Larry Fink of BlackRock saying that this period of time is nearly identical to the 70s, let’s take a look at what did the stock market do in the 70s? Absolutely nothing.

The stock market was flat from 1970 to 1980. In fact, Blackstone has warned, as well as Stanley Drunken Miller that we could have a lost decade ahead in the stock market absolutely. Where returns are anemic. But let’s look at gold. So in 1970, gold was $35 an ounce. In 1974, gold was $160 an ounce. So in four years, it went from $35 an ounce to $158 an ounce in 1974, in 1980.

So now, six years later, from 1974, it was $680 an ounce. So in the decade of 1970 to 1980, gold went from $35 an ounce to 620 x return on gold in ten years. Now, one thing that we have is we have all these experts, and now JPMorgan. Just stepped forward and said that we could see gold. They’re throwing out numbers that are unbelievable, as high as $3,500 an ounce.

And they also said last week, it’s time to increase your allocation to gold. That’s j P Morgan they don’t have a pony in the race, and they are suggesting to their clients that it’s time to increase your allocation to gold. Now, Jack, you know, one thing know, got to announce right here, look at the way the sun hits is that, you know, is gold money? Jack well, JP.

Morgan himself, JP. Morgan himself said, gold is money. Everything else is debt. And that was Morgan himself. So this is real money. This is tangible, hard assets, real money. It represents pulling your money from the financial system. If you think you’re concerned at a time right, when everyone is accepting debit cards, right, banks are, of course, we haven’t even touched on the regional bank collapse with Silicon Valley Bank as well as Signature Bank.

So we have not even discussed the regional banking collapse. But we also haven’t discussed central bank digital currencies. So where do you think we’re headed? So gold has always represented pulling your money from the financial system. And this is at a time when there’s still cash, but really, as we see it’s moving towards debit cards, it’s moving towards central bank digital currencies. I’ll give you your gold coin back.

I see. This is going to end up in my pocket. Let’s do this. Okay. Patriot Gold Group has been number one rated for seven years in a row with Consumer Affairs. Consumer affairs number one rated, and you guys are the one thing that you guys have is the best customer service. I’m not just a spokesman, I am a client. I love you guys, but give out the 800 number, please.

The number is 1809 744653. That’s 1809 seven four gold. Now, not only is Dan a client dick Morris senior political strategist, newsmax host, bestselling author. He’s also been a client of mine personally for the past six years. Lauren Chen is also a client. Mike Slater is also a client from First TV. So you are a client. So you’ve had the experience of not only working with us, of purchasing physical gold and silver, being in receipt of the physical gold and silver.

Fantastic. It’s just a great my experience was first rate. Everybody who’s ever written me has just thanked me and said how fantastic their experience has been as well. So one more time of the 800 number because it’s 1809 744653. Perfect. Now, a few things. Now I get people that are going to say, dan, you can’t eat gold. You can’t eat gold. Now, one thing that as we were walking here, you said tell me what you said about what we can do with this and how you could basically cash this in.

Gold has no counterparty risk. It can be converted into any other currency globally. Globally. So there are countless locations where you could walk in and walk out with $2,030 cash for that gold coin right now. In fact, I’ll quote verbatim from the Wall Street Journal. The Wall Street Journal, verbatim, we have entered the end game for the US. Dollar as the dominant reserve currency, but most are unaware of the implications.

And what we believe will happen is that you will take your gold and silver coins and convert them for ten to 100 times the number of dollars than you paid for them and use whatever currency has replaced the current status. So what The Wall Street Journal quoted and said, and what I just read off Verbatim is that you will eventually take your gold and silver coins and convert it into whatever currency regime has replaced the current status quo system.

And that’s what many people and I guess that’ll lead us into central bank purchases of physical gold. Central bank purchases of physical gold is the highest it’s ever been on record. Absolutely. They did 77. We have the numbers from august or excuse me, from September, and they bought 77 tons of gold in September. I mean, that is crazy, guys. China is selling us. Treasuries to buy gold. So many do speculate that this new basket based currency that’ll be challenging the US dollar, comprised of Brazil, Russia, India, China, South Africa, united Arab Emirates, saudi Arabia, Germany, and Mexico have applied to be a part of BRICS, will be backed by a basket of commodities, natural gas, oil, and gold and silver.

And that makes sense. I love silver, too, just because of the it’s very inexpensive when you think about it. But the demand for silver, I mean, there’s thousands of products. It’s the best conductor of electricity, the medical uses that people don’t even know about. I could go on for an hour and a half about that, but it really is amazing. Well, I’m glad you brought that up, because a report was released just last week that the technology in solar panels now requires so solar panels now require two to three times the amount of silver than they previously did.

Due to the upgrade in technology, they’re able to retain a lot more electricity, dispense a lot more electricity, but it requires two to three times the amount of silver. And one other question I’ll have for your viewers who has seen a car commercial in the last year, whether it be on the football games, whether it’s Monday Night Football, whether it’s anytime throughout the week, that isn’t an electric car commercial, right? There’s no longer car commercials.

That’s not an electric car. They’re all electric car commercials. And the amount of silver that goes into every single one of those electric vehicles in order to go green, it’s going to require a lot of silver. A lot. It’s funny, my agent and the people that reach out to me, they’re all electric cars. And you guys know how I feel about that. In fact, I saw a post this week, and it was a massive diesel engine behind a charging station, and it said, okay, we’ll pretend not to see the diesel powered engine behind your little electric vehicle charging station.

Well, governments across the globe want to make it mandatory that all vehicles are electric by 2030. 2030 is six years from now. Yeah, six years. So let’s think back six years. Six years back was 2018. Trump was in office, right? It’s not that long ago, right? It’s really not. Six years flies by. And if you have all these governments around the world trying to make it mandatory for electric vehicles in the next six years, the amount of production, the amount of silver in fact, The Street, which is Jim Kramer’s publication said, we have entered a period of time where silver is absurdly cheap and will outperform all other commodities for an insanely profitable time frame.

The street went on to say, our three to five year forecast for silver is $50 an ounce and could go as high as $150 an ounce. $150 an ounce. Silver right now is at $23 an ounce. Exactly 23. Video it’s great. And you guys sell silver too. That’s the one thing that I know for a fact. The demand for silver right now is absolutely skyrocketing. And I don’t know if your viewers are familiar with premiums, but just to give you an indication of the significant supply shortages of silver, silver is at 23.

But a silver American eagle right now to the US. Mint is about 33 $34. So it has about a 50% premium. And you have to ask why? Well, because there’s no silver out there. There’s no physical silver out there. So the demand is stratospheric right now. Not to mention what’s led to this inflation, as we know, was when this administration took office, number one, canceling the Keystone pipeline permit.

But then of course, the COVID relief bill, that wasn’t necessary. Then of course they introduced and the reason I’m bringing this up, the infrastructure bill. So you have that $1. 2 trillion infrastructure bill that’s going to be taking effect. And guess what? That’s going to require a lot of silver. Absolutely. I mean, there’s going to be charging stations. There’s going to be everything, roadways, bridges. Half the demand for silver is tied into its industrial and Utilitarian applications, half the demand.

So I mean, right now I think we’re running into something along the lines of a 200 million ounce supply deficit every single year, every single year, every single year. Now. It’s staggering. And people, what will make it up on volume? It’s a deficit, guys. So it’s fascinating to think about. And again, I talk about Patriot Gold a lot on my channel about getting gold and silver into your portfolio and having a metals backed portfolio.

You need to call Patriot Gold today, guys. They have a free investor guide that they will send out for you. It’s absolutely no obligation, but they’ll answer all your questions. But again, the customer service is the best. They’re number one rated for a reason and you need to check them out today and say the 800 number. Again, it’s 1809 744653. I also want to encourage your viewers this weekend to take a look at your 401K or your IRA balances and take a look and see where were they back in January of 2022? Where are they today? Because we also offer the no fee for life IRA on qualifying rollovers.

So the no fee for Life IRA is where you are able to simple. It’s a simple, easy process. A lot of people think that purchasing physical gold and silver or investing in gold and silver can be complicated. It’s so simple. You call the 800 number and we take care of everything. And on the rollover. The funds roll over from your current custodian whether it’s Fidelity, Vanguard or any of those custodians to a third party passive custodian by the name of Equity institutional upon receded Equity.

We get a funding notification and we write a trade for the actual let me see that gold coin again. The actual physical gold and silver. So you will have a self directed IRA backed by physical gold and silver. Now, keep in mind, it is held in a dedicated, secured and insured storage, your physical gold and silver. And people always ask, well, can I take receipt of my gold and silver? Yes, you can.

You can do a distribution in kind. You can be in receipt of your physical gold and silver. It is in an IRA. So the standard, typical IRA laws and rules apply as far as distributions. But you can take receipt of your physical gold and silver and again, we have the no fee for life IRA, where we pay the rollover fee, we pay the administration fee, we pay for the registered and insured shipping.

But most important, we pay for the dedicated, secured and insured storage of your metals for the life of your IRA. Yeah, that’s very cool. You know, it’s funny. A few months back when Jack and I were going to shoot, we were in Laguna, and my brother was like, I have questions for Jack. And I’m like, let it rip. Jack’s going to answer all this stuff. So it’s absolutely fantastic that you guys handle things the way you do.

And you stood up to my brother to go to him asking his myriad of questions. The objections with silver is that it’s heavy, it’s cumbersome, and it takes up a lot of space. But if you have a silver backed IRA, the metals are being held in a dedicated, secured and insured storage at the depository. So you could literally just roll over, say, 200 and 5500 thousand dollars, put it into physical gold and silver.

And when you have this street, which is Jim Kramer’s publication forecasting, $50 an ounce in the next three to five years and as high as $150 an ounce in the next five to seven years is what it is. $150 an ounce in the next five to seven years. And if you look at the performance of gold from 1970 to 1980, let’s just really look at that again. 1970 to 1980, gold was $35 an ounce.

In 1970, it was $158 an ounce. In 1974, four years later, four years later, and then another six years later, it was $600 an ounce. I mean, those types of returns are astronomical. Absolutely. Now, one thing to think about is this and that as far as the stock market is concerned. JPMorgan. Jamie Dimon just announced now he owns 8 million shares of Morgan. He’s going to sell 1 million shares.

It was just announced yesterday. So 1 million shares of his portfolio for his stock is going to go and everybody’s speculating. Why is that? Why is that? What does he know? What’s going on with the banks? You guys know that there’s big problems with banks, but he’s cashing out, and that’s a lot of money that he’s getting out of the market himself right now. I mean, here you have quite possibly the most powerful, most successful, smartest CEO in the world, CEO of Morgan.

So he doesn’t just decide to sell a million of his own shares of Morgan without knowing that something’s down the pike. Something is, you know, it’s time, guys know, you’ve got to look at protecting yourself. We insure everything in our lives and you’ve got to ensure your retirement and you’ve got to look at physical medals. I love it. I think when I got the education on this, before they were even a sponsor on my channel, I really got into this big time.

And I think everybody should look into this. But the advantage to it is you guys are such a great company that I love working with you and I love all my subscribers talking to you guys and getting all the answers and everything. Your team’s fantastic, too. Everybody I’ve met is just first rate, and they all are so knowledgeable. We are Consumer Affairs number one, rated for seven years in a row, a plus rated on the Better Business Bureau over 505, star reviews on trust pilot, better Business Bureau and Google.

Hey, one thing I did also want to mention is one thing we should discuss, the national debt. I mean the national debt. And let’s keep in mind again how this relates to gold. Well, because the size of the national debt directly correlates to the price per ounce of gold. And if you look at our national debt right now, I think this administration increased our national debt by half a trillion dollars in just 20 days.

That’s crazy. We’re now going to be funding two wars the war in Ukraine and the war in Israel, right? Absolutely. This administration is looking to do that student loan forgiveness program, of course, ahead of the election. The student loan forgiveness program. Also, let’s not forget that during the Midterms, we depleted half of our strategic oil reserve to lower the gas prices. And our national debt is just. In fact, the GOP finally have a new speaker of the House.

Yes. And the first thing he said was, our national debt is the biggest threat to our national security today. Absolutely. Our national debt is the biggest threat to our national security today because with the interest rates that have gone up, the interest payment on our debt now exceeds our defense budget. It’s unbelievable. Unbelievable. It’s a trillion dollars a year. You can’t run your household this way. You can’t run a city, a county, a state.

No municipality can be ran losing money month after month and no country can. So again, guys, you have to protect yourself. You’ve got to look at ways to protect your family, your retirement, your future. I think our national debt in 2020 was or in 2010 was 15 trillion. Yes. The price of gold was $1,000 an ounce. Then in 2020, our national debt was 25,000,000,002,020. Our national debt was 25 trillion, and gold was $1,500 an ounce.

Right now, only three I mean, four years later, three and a half years later, our national debt is $34 trillion. 34 trillion. And gold is $2,000 an ounce. So with our national debt exploding higher, you have to ask yourself, well, if there is a direct correlation to the price per ounce of gold and our national debt, where’s our national debt headed? And where’s the price? And this is why Wells Fargo said we’re in a commodity super cycle and that there’s another six years left.

And worst case scenario is $3,000 an ounce gold. So $3,000 an ounce gold. It’s time to protect yourself, guys. Jack, thank you so much for being here. But, guys, call Patriot Gold today. Use the link below. Again, give out the 800 number, please. The 800 number is 1809 seven four gold. Or you go to www. patriotgoldgroup. com. Again, that’s 1809 seven four gold. Also, make sure to ask about the no fee for life IRA.

And if you are eligible for that no fee for life IRA. Yeah, check it out, guys. But, Jack, as always, thank you for being here. If you guys want to reach out, you have any questions, hello@iallegedly. com. Don’t forget to hit the like button. Don’t forget to subscribe to the channel. And again, I know we could do 3 hours more of this, but thank you so much for being here.

Thank you. Truly appreciate it. I say we flipped that gold coin. Heads, you get to keep it in tails. Okay. Right? Look at that beautiful gold American eagle. That’s a type two gold American eagle. As a matter of fact, one thing I want to mention to your viewers, do you notice that’s identical to our logo. Oh, that’s nice. Our logo came out seven years ago. Yeah, seven years ago.

And the new eagle on the gold American Eagle, type two, is identical to our logo. Isn’t that great? That’s fantastic. So can I keep this? Sure, Chad, if that’ll make your day. Well, this would make my day. Okay. Thanks again. Thanks, guys, for being here. Okay, here’s your gold coin back. Thank you. Close. .