Hey, it’s Dan. Welcome back. This is I Allegedly, and I’ve got a good one for you today, because I’ve got a wild story to tell you, and it’s going to lead to you protecting yourself. First of all, great day. My niece had twins, and today is the baptism for Vinnie and Max. So we’re celebrating that, and I’m at a real old church in Santa Ana, California, which is cool. But I had heard a story that there was a retailer, and that’s how I’m going to limit it, that offers safety deposit boxes and sells metals, sells gold, silver, coins, all that stuff, and that they were having trouble paying people.

And I’m like, huh, that’s interesting. Let me go check that out. So last night I drove to the store, and one thing that they had said was, hey, listen, we’re not having any trouble. We’re just having so many people that are selling right now. We’ve never seen it. One guy had worked there 10 years, and he said, people are desperate for money right now, and they’re coming in. Now, think about this. He had told me that they don’t have cash right now to give people money, real money, for their gold and silver. When they sell stuff, they have to write you a check.

And the worst part is, is that they are post dating checks for people a minimum of five business days. Five business days to seven business days. That’s a week and a half, guys. What’s the point of selling precious metals if you can’t unload them quickly? And it just happened, Dan. The first of the year, everybody got the wonderful idea to sell, and we just stopped having cash here. So now, if you want to sell one round, guys, it’s $30. If you want to sell one round of silver, we’ve got to write you a post dated check right now.

Well, are you guys in financial trouble? No, we’re not. But that’s wild, guys. So this store is doing that. I don’t want to say the name of it, because I don’t want to run on that store. But they also sell safety deposit boxes. And here’s the thing about this. My buddy Dave sent me a story last night about how safety deposit boxes are not all that are cracked up today. So what I want you to think about is, there’s a few things about this with a safety deposit box that can lead you to trouble. And first things first, your money isn’t insured.

When you have your money in a safety deposit box, oh, I had $8 million in that little drawer. No, it’s not insured, guys. Number two, that’s a concern, is banks can access them. Now, this is a business, a private business, that sells safety deposit boxes and metals. So can they access it? Who knows? Who knows? I’ve always worried about stuff like that. You can’t quickly give other people access in an emergency. Now, you get taken out. You’re held hostage. You’ve got to get money. You’re not going to allow somebody on there. Now, I asked, hey, what happens if I bought a box? Can I have access? Oh, you can have a responsible party who can have access to your box, but they have to have the second key.

They have to have your passcode. They have to have your little key fob and all that stuff to get through the front door. And I’m like, wow. So basically, no, you can’t get access to it. So the next thing, access is always limited to the banking hours. So whatever the business hours are, that’s the problem that you have. Now, you can sit there and say, again, who needs cash during this time like that? Well, when it’s inconvenient, that’s when you need cash. I mean, it’s never, hey, you know what? A week from Thursday, I’m going to have an issue.

And I’m going to have to go get some cash on an emergency basis. It’s never like that. So the rental fees aren’t tax deductible, which is no big deal. After you die, if this is not spelled out, your access to this, here’s the thing that I always tell people, probate court and all this stuff that is there, you don’t want to have to have people go through it if you can avoid it. Have a trust. And it’s not that expensive to do this. Well, man, I don’t have enough money to have a trust right now.

Well, you should. You should try it so that there’s ever an issue, you know. You can just pass this. Have beneficiaries named. Have things like that. So there’s attorneys watching this that can tell me, if I name a beneficiary to my, you know, my safety deposit box, is that enough? Who knows? You know, clearly you can’t store everything there. Theft is possible, of course. Plus, you guys have heard about this famous story in Beverly Hills, where the company was concerned about money laundering. The feds were. So they went in and seized everybody’s stuff.

And it took years. It was almost seven years before people started getting things back. Now, number nine, law enforcement can gain access to your box. Contents exposed to natural disasters. What happened to the B of A that burnt down to the ground? And the other banks, the Citibank and the Chase and all that stuff that burnt down to the ground. Were there safety deposit boxes in those places? That would be a great story to find that out. You know, bank failures leave the safety deposit boxes in limbo. Again, guys, you can ask your bank the financial status of where they’re at.

And they’re inconvenient to access. Storing certain documents could derail your estate plans, of course. And, you know, storing your passport in there. Guys, I never recommend that for a thousand reasons, because what if you have to travel in an emergency? You have to get out of town. No, you’re not doing that. You know, family heirlooms might be lost. And again, final thing is if you do these safety deposit boxes, pick and choose, guys, what you’re going to do. Now, what I did before I drove over here is I went to a couple places, smaller places, that I bought gold and silver at.

And say, hey, what’s the climate like right now in the economy? One guy told me that he brings in $25,000 a day for purchases right now in CAC. I’m not telling you the name of this place. I’m not putting him at risk. But the point is, is that, you know, it was early and it was already halfway through the money already. The people wait in front right now. That’s how desperate people are to sell stuff right now. Who knew, guys? Who knew it was like this? I mean, we’ve talked about it getting bad, but I’m telling you, guys, I am one of those people that thinks gold and silver are going to go through the flipping roof.

And I’m not selling at all. Now, the thing about this is that this guy was just talking about it’s not large transactions. It’s an ounce here. It’s one ounce there. It’s 20 ounces of silver. That type of stuff is getting moved on a regular basis quickly right now. So you worry about that. Now, went to a pawn shop and the pawn shop says, oh, we’re just buying. And they have cash and guns and you don’t want to mess with them. But yeah, we’re buying right now. But they’re also the ones that are trying to offer under spot.

What is the current price of silver? That is the spot price. Under that would be under spot. Generally, you pay a premium when you purchase it. When you sell it, you’re lucky if you can get spot for some of the stuff. These guys are offering under spot right now and out of people’s desperation, they’re taking this. Now, I want to close this with the thing about this. As I was dumbfounded and like, wow, you guys are post dating checks. A young man walked in there early 20s and he had three ounces of silver with him.

And I was like, he’s like, hey, listen, want to sell this real quick? And they’re like, OK, listen, we have no cash. What do you mean you have no cash? Well, we’ve no cash. We can write you a check and you want to sell all three ounces of that, blah, blah, blah, blah. You know, it’s going to be almost ten thousand dollars and you’re going to have to wait, you know, a week and a half for this. So again, you would have thought that this guy, somebody kicked him in the face because he was just absolutely floored with this.

Now, I love gold and silver because you can unload it. But is this the beginning of this? Now, one thing that we’re going to cover later on in the week is that there are going to be a tremendous amount of layoffs right now and people are getting desperate. You’re starting to see people that, you know, it’s like margin call. It’s like, hey, money’s due, guys. Step up and let us know, you know, when you’re going to pay us, huh? Uh-oh. So what do you do? You unload the gold and silver. And a lot of people that were unsophisticated bought, you know, single ounces and things like that.

But I’m telling you guys, call first. If you’re going to go sell something in this economy, call first. Are you buying gold and silver? What are you paying right now? Ask that question. Ask the question because, you know, there’s no sense in driving down any place around the country. My brother, you know, talked to him last night, you know, asked him, isn’t this unbelievable? And he said, well, we’ve got to watch this one channel. And the guy was buying junk silver. Junk silver is silver coins, dimes, nickels, quarters that are, especially dimes and quarters, that are 1964 and earlier.

That’s called junk silver because it’s 90% silver. They are paying under spot for that right now. And I’ve, you know, got junk silver. I mean, everybody should have this stuff. The point is, is that right now, I mean, I just don’t sell it. I mean, don’t buy into the desperation. Do something else. But this is the sign of the times right now. If you’re going to buy anything right now, anything that you want of value, motorcycles, equipment, cars, anything, look for deals out there because people are desperate. And there’s people that are going to unload things and give you tremendous deals.

And if you are prepared to pay for it with cash, now I’m going to finance it through my bank and get you a, you know, draft from the bank and you can deposit it. No. If I can lay cash on your kitchen table, would you knock three grand off the price? Yes. We’ll do that. Okay. So it is getting ready to rain here. Please don’t forget to hit the like button. I wanted to share the story with you. This is a cool downtown area. They’ve put a new rail car in that’s supposed to open soon, a year ago.

But it’s finally going to open. And there’s a lot of cool shops down here and stuff. But this is a cool church that my family likes to have events at and things like that. So here’s Davini and Max. And for those of you that asked, Rosie had to have surgery this week. She had something on her back and it got inflamed and it had to have surgery and she’s wearing the cone. And she’s doing very good. But she has just been having a difficult time with that. So, you know, better now. Okay. Please don’t forget to hit the like button.

Please don’t forget to subscribe to the channel. But I’m telling you guys, don’t, you know, things get feverish to buy things. Things get feverish to sell things. Don’t buy into this right now, guys. Hang on to this. If you are a buyer of metals right now, you can make a lot of money. You can get really good deals right now because I’m telling you, this is going to, if you look at history, if you look at everything that’s going on with this, this is going to go up, you know, exponentially. Look at Bob Kudla.

Look at guys like Jack from Patriot Gold. You know, they all say the same thing. Okay. Protect yourself. Be ready. Let’s go in and see the baptism. Okay. Onward and upward, guys. I will see you guys very soon. [tr:trw].

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