555: Iran, Bitcoin, and What It Means for Gold

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If you want to understand where money is going… don’t listen to what people say.

Watch what happens when the system is under stress.

Right now, in the Strait of Hormuz—arguably the most important energy chokepoint in the world—Iran has effectively taken control of transit and, in some cases, is demanding payment in bitcoin for passage.

Why?

Because when you’re operating under heavy sanctions, the traditional system stops working.

Payments can be blocked. Assets can be frozen. Transactions can be tracked and shut down.

So you move to something that doesn’t rely on permission.

In this case, that means digital assets—Bitcoin, stablecoins, anything that allows settlement outside the banking system.

This isn’t theoretical anymore.

It’s happening in the middle of a real geopolitical conflict—one that has already disrupted a massive portion of global oil flows and pushed prices higher.

Now step back for a second.

That core idea—avoiding counterparty risk—is not new.

That’s exactly why gold has existed as money for thousands of years.

No counterparty
No issuer
No reliance on a system

But Bitcoin introduces a different version of that same idea.

It’s:

digital
highly liquid
instantly transferable

No shipping. No storage. No borders.

So now you have two assets solving the same fundamental problem—just in very different ways.

Of course, the pushback on Bitcoin is always volatility.

“It’s too volatile to be a store of value.”

But think about that carefully.

Bitcoin is still small relative to gold. It doesn’t take much capital to move it.

So is the volatility the problem… or just a reflection of its current market capitalization?

And what happens if that changes?

Meanwhile, gold—the original hard asset—has quietly been doing exactly what it’s supposed to do.

After years of going nowhere, it’s been one of the biggest beneficiaries of everything we’re seeing right now:

Geopolitical instability Central bank accumulation A growing lack of trust in the financial system

So the question for investors is: Has gold already made its move… or is this just getting started?

That’s what we get into on this week’s Wealth Formula Podcast.

My guest is David Beahm, President and CEO of Blanchard and Company, one of the oldest precious metals firms in the U.S.

We talk about what’s actually driving gold, the debate between physical gold and ETFs, the real-world issues around liquidity and taxes, and how to think about gold in a world where Bitcoin is no longer theoretical—it’s being used in real geopolitical situations.

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Transcript

Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at [email protected].

If you don’t actually physically hold the gold no matter what, there is going to be a counterparty risk associated with it. GLD is a great, a great company, a great ETF. Uh, it’s done wonders for the marketplace, but if you don’t hold it, you don’t own it.

Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast. Coming to from Montecito, California today, let’s talk about something that I think is very interesting, which is Iran, Bitcoin, and gold. Well, we’re really gonna talk about gold when it comes to this interview, but I wanna back up, talk about Iran and Bitcoin as well.

’cause if you wanna understand where the money’s going, don’t listen to what people say. Watch what happens when the system is under stress. And right now in the Straits of Horus, arguably the most important energy choke point in the world. Iran has effectively taken control of transit, and in some cases is demanding payment in Bitcoin for passage.

Why? Well, because when you’re operating under heavy sanctions, the traditional system stops working. So you can have block payments, you can have assets frozen. You can have transactions that can be tracked down and shut down. So you have to do something that doesn’t rely on permission. And in this case, that means digital assets, bitcoin, stable coins, anything that allows settlement outside the banking system.

When I heard this, I’m thinking to myself, this is not theoretical stuff anymore, right? It’s happening in the middle of a real geopolitical conflict, one that has already disrupted a massive portion of global oil flows and push prices higher. The core idea behind what they’re trying to do there is to avoid counterparty risk, right?

That’s what Iran is trying to do, and that’s exactly why gold has existed as. As, as money for thousands a year. There’s no counterparty. There’s no issuer, there’s no reliance on a system. But Bitcoin intrus a different version of that same idea. It’s digital, it’s highly liquid, highly liquid. And uh, you can transfer it instantly.

And guess what? Unlike gold, no shipping, no storage, no borders. So now you have two assets solving the same fundamental problem just in a very, very different way. And of course. The pushback on Bitcoin as a digital gold is it’s volatile. It’s highly volatile. It’s too volatile to be a store of value, they say.

But think about that for a minute, right? Bitcoin is still very, very small relative to gold in terms of its market capitalization, and so it doesn’t take much to move it. We’re only talking about $2 trillion, right? So is the volatility a, a, a long-term problem? Um, I don’t know. I, it’s hard to imagine a Bitcoin with a, a, a market capitalization of, uh, 15 trillion say, or 20 trillion closer to gold that you would have that kind of volatility.

Now, gold itself is, has been actually recently more volatile than Bitcoin, believe it or not, but it has been anyway. When that market capitalization gets higher and volatility goes down, then what happens? What changes, if anything? I think that you’re going to see a true acceptance of digital gold of Bitcoin at that point.

But anyway, that’s in the future. I don’t think it’s far away. I think we’re talking about five to 10 years. Meanwhile, gold, gold is the original hard asset, has been doing exactly what it’s supposed to do for a long, long time, for thousands of years. Frankly after years of going nowhere in terms of its price, it’s been one of the biggest beneficiaries of everything we’re seeing right now.

You know, with all the geopolitical instability, central bank accumulation, uh, growing, lack of trust in the financial system, while gold is benefiting from that, and it has, the price has gone way up, but has it already made its move? Or is it just getting started? Uh, and that’s kind of what we’re gonna talk about today on this Week’s Wealth Formula podcast.

I’m interviewing a guy by the name of David Beam, uh, from one of the oldest precious metal firms in the us and we’re gonna talk about gold. What’s driving gold? Um, the debate between physical gold and ETFs, which, uh, is an interesting one in my opinion. Uh, the real world issues around liquidity in taxes and how to think about gold.

Uh, gold in a world where bitcoin’s no longer theoretical. Anyway, we’re gonna have that interview right after these messages.

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Welcome back to the show everyone. Today my guest on Wealth Formula podcast, David Beam. President and CEO of Blanchard, uh, and company, uh, one of the oldest and most established precious metal firms in the United States. Blanchard has been in the business for over 50 years, dating back to when a private gold ownership was re legalized, uh, just back in the 1970s.

And he’s helped investors understand the role of physical precious metals in a portfolio ever since. Welcome to the show.

Thanks. Thanks for having me, buck. Appreciate it.

Well, let’s kinda start out with the sort of a bigger picture situation here. You zoom out globally right now, China, Russia, central banks, they’re clearly shifting towards hard assets.

How much of what’s happening with gold right now is really about geopolitics versus traditional drivers like rates and inflation.

So I think right now we’re certainly looking at geopolitical risk as the reason why gold’s moving up and down and even slower for that matter. Uh, but over the last year we’ve seen a, a monster return on, on both metals, and that was pre, uh, what was going on in Iran.

And so you really just had supply and demand fundamentals. Everybody wants their hands on gold right now. And central banks, as you mentioned, are literally buying up anything that, uh, is hitting the marketplace. Uh, a few weeks ago, the, the Turkish government decided to liquidate a good portion of the.

Their holdings to raise cash because they’re worried about having to fund what might be coming their way. Uh, and as soon as the, uh, the metal hit the market, you had plenty of buyers that went out there and, and picked it up. And I really think that the, the, the world knows the benefits about gold, but perhaps people in the United States just don’t realize how valuable gold is to have in a portfolio, the stability and the insurance that it offers.

Uh, we just, we’re just lagging behind a little bit with the, with. With the rest of the world and even just a small percentage of, of, uh, United States investors that they got, uh, into gold, you would see a a, a huge move upwards.

Yeah. Well, you know, so it’s going back to the central banks that you mentioned.

They’ve been aggressive buyers of gold, obviously. What do you think they’re hedging against specifically?

Uh, number one, nobody wants to be in dollars. So you’re gonna, you’re gonna start seeing, uh, governments, uh, trade in, in gold as opposed to dollars, which has been the world reserve currency. And I’m certainly not suggesting that the dollar’s gonna go by the wayside, but I think the value of the dollar has certainly, um.

Going in the wrong direction. And what, uh, central banks see is that hard assets like gold are, are a place that they can have, um, the value at least maintained. Um, and that’s what you see with central banks, and it’s been like that for a number of years. This isn’t new for central banks. Uh, you know, we, we, uh, we’ve seen it for.

You know, literally since the financial crisis, the, uh, central banks are buying gold and, and putting it away and, and hope they never need it. Just like, uh, retail investors hope they never need it, but they have it. Uh, it’s an insurance policy and they’ll be glad they, they do when they need it.

Yeah. Well, certainly, you know, the unraveling of the US dollar, uh, is, is, uh, a reserve currency is probably not gonna happen overnight.

Um, but it’s, uh, but your, the suggestion here is that the, that the shift towards gold from the central banks, uh, reflects. That sort of, uh, de dollarization globally is kinda what you’re suggesting?

Yeah. What, what I’m suggesting is that you see plenty of countries that are trading, uh, with one another and they’re not using dollars anymore.

You know, the bricks, uh, the people over nature, they’re, they’re just not using gold for oil. They’re using. Uh, excuse me, dollars for oil. They’re using gold for oil and vice versa. So again, I’m not suggesting that the dollar’s gonna go by the wayside or it’s not gonna stay, maintain the world reserve currency.

I’m just suggesting that there’s plenty of, uh, central banks and institutions that are using other forms to, to trade. And I think that’s what investors can get ahead of before it, uh, before it keeps going even further.

We’ve seen the US dollar, uh, or the US weaponize the dollar, uh, through sanctions reserve freezes.

Do you think that’s, you know. Part of what countries are thinking about?

Well, they, they can hold it over our heads as we hold it over their heads. So I do think that it is tough right now for, uh, central banks around the world to, to have that crystal ball, to figure out what can the US do? What are we capable of doing and what’s playing out right now, uh, in a Middle East?

You know, we, we certainly. Uh, I think central banks are, are worried about the reserve currency and what the US can do in order to manipulate, uh, people using our dollars. You know, it’s been the reserve currency for a number, number of years and, uh, as people start realizing, wait a minute, I can actually trade this stuff right here for this other stuff and not even have to get the US involved or the dollars involved, I think it’s very important for people to think about right now.

So, ironically, right now, sort of the dollar has actually remained relatively strong through this recently and. Historically that a stronger dollar has been a headwind for gold. So why hasn’t that happened this time? What’s different?

So you, you, you look at the dollar and gold and it should be an inverse relationship, right?

But in reality right now, both are, are performing pretty well. Uh, so one’s gonna have to give at some point, and do you put your. You know, where, what do you back, do you back something that the whole world wants or you back what the United States government wants? And as, as, uh, institutions in central banks start realizing, wait a minute, I would much rather have a hard asset that’s tangible that I can hold in my hand, in my vault, wherever it happens to be.

And that’s way more valuable long term. Than the US dollar. And what you’ve seen with the performance of gold in the past year just shows the supply and demand fundamentals are, are, are there. And, you know, we, we’ve had a, a pullback, a little bit of a pullback, but, you know, we’re talking to our, our clients that it’s an, it’s an opportunity, uh, one that you don’t really get very often to see, uh, what’s on the horizon.

And expect the price of gold to go back up. And you can, you can hit it down every once in a while, but the trend is gonna be upwards and it’s gonna be up upwards for a long period of time.

You talk a lot about counterparty risk. Can you tell people what you’re talking about when it comes to that issue?

So when you, so what we sell, and, and this is very basic and it happens to be just what we, we sell, we can go into, into further stuff, but counterparty risk is important because when you actually own gold, we sell physical gold. We, we actually send what we sell to our clients so they can physically hold it.

And it’s, there’s no counterparty risk to it. You have it, you own it, you hold it. That’s it. Um, the, there are other proxies of owning gold and there is counterparty risks. You know, you have ETFs, you have mining shares, you have future contracts. And each one of the. Those baskets has its own, um, difficulties when you want to have a true proxy to gold.

So let’s take for instance, mining socks. Well, what if the mine collapsed? What if there’s some political unrest in that, in that area where the mine is? What if there’s management issues that, you know, steals money from the company? So all that stuff is, is what I’m talking about when we talk about counterparty risks.

There are other things that are out there that can manipulate the price of that asset. Where gold is is gold. You own it. Um, you know, we kind of have that saying when, when, when, when I talk to. To individuals like you almost feel like your Uncle Scrooge when you actually have this gold in your hands.

Nobody else has any claim to it. And, and when you open up that box and you take it out, the feeling that you get, it’s like a warm blanket. It’s just security, it’s insurance, and there’s nobody that can, can, can, uh, do anything to that asset, unlike some of the other proxies to, to owning gold.

One of the things that, so you’re talking about with counterparty risk, obviously the, you know, the things that you mentioned.

Mine, you know, mining operations in somewhere in Africa or who knows? All those kinds of things are, are, you know, that’s a very clear example of counterparty risk and, and that kind of thing. But let’s talk about G-L-D-E-T-F for gold. What’s the real risk to people there? Because I know you have, um, encouraged people to move away from those kinds of, um.

Uh, ETFs rather than, you know, and, and, and, and focus more on physical gold. So talk a little bit about that.

Sure. So, GLD and the other ETFs are, have been great for the marketplace. They allow people to get in, uh, they can use, uh, you know, their, their brokerage accounts, they can use their stock brokers.

It’s truly a way to get in and out of the gold market. Uh, which has been great for supply and demand. You know, GLD is, is a, is a monster. There’s certainly other, uh, ETFs, uh, as well. Um, and, and in our thought process though, uh, our clients are typically a long-term holders, almost generational holders, and so they’re not looking to day trade gold or even weak or month trade gold.

Uh, and so with the, the risk that you have with et s and, and again, I’m not. Doing something that they shouldn’t, but you just don’t know. And if you read some of the proxies of these ETFs, they have the ability to loan the gold out, uh, to, to sell the gold. Uh, and then also every single month, they’re gonna take away some of your holdings to pay for, uh, marketing and management costs and storage costs and insurance costs.

Um, so you’re, um, you know, you’re, you’re kind of driving it off the lot and immediately it’s worth a little bit less so. Again, I think ATFs has been great for the market overall. If you’re looking to just get in and have a little bit of exposure to gold and let’s say you want to get out by the end of the year or next year, then that’s certainly a great way to be exposed to the, to the price of gold.

What our clients want is they wanna physically hold it so there’s nobody that can take it away from ’em. And in the, in the long term, uh, they realize that I want to have this for five, 10, even longer years, uh, hold. And they, you know, as we ship it to ’em, as I mentioned, they put it in safety deposit boxes and bank vaults, uh, under the mattress in the backyard, uh, wherever they put it, they put it.

And nobody can come take it away from, with, with, uh, with et. S there’s just a little bit of risk out there. But again, I think ETS has been great from the market.

I just, you know, just get onto that a little bit more. It just seems to me thinking about, you know, GLD somehow stealing your funds seems a little bit excessively paranoid.

Oh no, I, I certainly don’t think that they’re stealing people’s funds. What, what they have to do though is they have to pay for, right, uh, the fees that are involved. And so that comes off the top. And then they also have the ability to lease the gold to third parties. And then, so if you look at the.

Number of ounces that are out there. Mm-hmm. And the number of claims, the ounces, it’s like 35 to one. So e ounce of goals has 35 claims to it because of the leasing and, and not just with ETFs. This also happens to do with institutional, uh, banking as well as government. So. This goes back to your original question is, where’s the counterparty risk?

If you don’t actually physically hold the gold, no matter what, there is going to be a counterparty risk associated with it. GLD is a great, a great company, a great ETF, uh, it’s done wonders for the marketplace, but if you don’t hold it, you don’t own it.

Talk about the, the cost of owning physical gold because they’re, you know.

If you’re gonna do storage and that kind of thing, there’s some costs there too, isn’t there?

Definitely, yes, absolutely. And what we advise our clients is you definitely want to want to put it somewhere where it’s safe. Uh, you know, I think a lot of our clients probably do hide it in their, in their backyard or in their, in their underwear drawer.

But in reality, I, there is some, some, uh, some costs associated with having a safety deposit box. There is some costs associated with insuring it. But after that, there’s no management costs, there’s no advertising costs, there’s no accounting costs. It purely is a, a low cost asset to have. When you look at the overall cost at some of the other proxies to, uh, to owning gold,

there’s, um, another challenge, which is liquidity, right?

I mean, like, it’s, it’s not as easy to sell physical gold and the tax implications are different, aren’t they?

So it’s not, it’s not difficult to, uh, to sell gold. As a matter of fact, uh, right now we’re, we’re seeing it. Um. Our pilots carry gold with them when they’re flying missions because if they go down, they can actually trade gold for safe patches, food, whatever.

And for, for us in the United States, when we, we sell gold, uh, to our clients, we have a buyback guarantee that we’re going to buy the, the gold back at the current market prices at the time of the sale. And it’s pretty easy. All you do is you send it back to us, we liquidate it for you, and we send you a check.

So is it overnight? No. Is it fast? Absolutely, well, certainly a lot faster than trying to sell a piece of real estate. Um, so yes, it is, uh, it, it, there is a commitment to us that we full circle the whole transaction and, and we, you know, we’ve been there for 50 years, been there for 50 years, so people don’t have confidence buying stuff from us, and we’re gonna, we’re gonna sell it back.

I mean, we’re gonna buy it back from,

we’re gonna buy a back at market market price.

At the market price. Correct.

Right, right. Yeah. You know, you said just keep thinking about like the cost of. Sending, if you’re sending a, you know, brick and all. How much does that cost? You know? So there are costs associated with this stuff.

It’s not,

there is, so the majority of our, our clients do not pay for shipping on the way to them. They would have to pay shipping on the way back to us. Yeah. Uh, and we help with the insurance. Um, so, um, we do make sure that it’s fully insured and we, uh, we work with the client to, to make that happen. But, uh, but yeah.

The cost is nominal. I mean, you’re talking about a couple hundred dollars, uh, to, to, to get that back to us. And, and, uh, and, and again, it’s, it’s one of those assets that because you have it and you own it, you feel comfortable. But yeah, there are some inconveniences of having to ship it back to us. Uh, but when it’s all done, uh, having physical gold, our clients.

Don’t mind paying that small fee to, to ship it back to us through the postal system.

What do uh, spreads look like when it comes to buying and selling physical gold as opposed to. Gold ETFs. So,

so, um, I don’t know what, what, uh, brokers charge to get an outta mining shares or ETFs, but you’re gonna pay 50 basis points when you buy gold, gold from us.

Um, so you’re looking at 50 basis points from our cost to, uh. To, to pass on to a client and, uh, you know, nobody’s paying spot. You think about it, spot comes out of the ground, then the, the min manufacturer, and then there’s a wholesaler involved. And so there’s all, you know, there’s three groups of people that, that do make money on this.

And, and when we, uh, when we, uh, sell it to our clients, the margins 50 basis points, and that’s basically, and most of the time you get free shipping. Um, so that’s your, that’s your end cost right there. Uh, what do you choose to do with it after that, between the time that you, uh, receive and the time you send it back to us?

You know, again, we recommend fully insuring it and putting it somewhere safe. Uh, but you can put it in the back of your closet and not worry about it and have zero, uh, zero, zero costs associated with it.

Right. How about the tax treatment, physical gold sales, capital gains? How’s it different from just buying and selling an ETF?

we, um, we kind of have a internal policy that we don’t get involved with, um, with recommending any sort of tax, um, uh, implications. Uh, we know that it is a capital gains tax, but we, uh, we recommend attorneys and, and tax advisors. I mean, I’m just asking

code. I’m just asking what the code is. Uh,

I mean, it’s, it’s gonna be the 25%, um, Joe.

The, the gain on that. Um, now this administration may be a little bit, um, more favorable at some point, but 25, 20 8%, uh, the, the capital gains. Um, and that is, um, you know, a cost that, that is associated with it just like any other,

yeah.

A gain on an asset like this.

Yeah. I’m just looking it up because I mean, if you have a policy, I, I don’t wanna force you to say something, but So if, so, when you’re, when you have physical gold, is it consider, it’s considered a collectible, right?

Uh, correct. We also do sell collectibles, but yes.

Right. So long-term capital gains is up to 28%. Right. So that’s, I mean, and whereas with long-term capital gains on ETFs, we’re talking about 15 to 20%. Yep. That’s just what we’re saying. So there is a difference. Um, in terms of, in terms of the taxation, I didn’t wanna.

I didn’t mean, I’m not trying to put you on the spot, but I

Oh, no, it’s fine. That’s when a client, when a client asks us that we, we, the same thing that I just said is what we, we tell our clients that we’re not tax advisors and, uh, we would definitely recommend you talk to, uh, to your team before, uh, before reacting.

Yeah. Yeah. Let’s talk a little bit about an interesting thing that’s come up in the gold world, which is the role of bitcoin. Um, a lot of gold bugs are interested in Bitcoin. Now, some of actually the biggest names in gold. How do you think of Bitcoin, uh, when you think of storage? ’cause some of the things that you mentioned, you know, non confiscate, no counterparty risk that I kind of stuff applies to Bitcoin as well.

Obviously people have strong opinions of that’s, I’m just curious what you think.

Uh, so when Bitcoin came into the marketplace, I guess what. Really, truly came into the marketplace. It, it’s definitely a competitor of gold, no question about it. And the demographics are certainly a lot younger than the demographics that, uh, are typical clients of ours.

You know, we we’re looking at more conservative investors that, uh, are looking for, for risk, whereas Bitcoin is more of the, uh. You know, the A MC, GameStop, let’s get rid quick kind of thing. And a lot of people did incredibly well with it, but I mean, to us, uh, we accept Bitcoin as payment, but the moment that the transaction happens, it’s immediately converted to cash because we do not want to have the whipsaw that you’ve seen.

And, and, um, you know, we’ve got clients that certainly invest in Bitcoin and um, and I think if you look at charts side by side, it’s kind of hard to argue. That, uh, you, uh, you know it

well, it’s, I

I don’t understand it enough.

Yeah. I think not what I’m, what I’m getting at is not so much the price action. I think one of the things that people talk about is the volatility of Bitcoin, which yeah, look at the market cap.

We’re at two, you know, $2 trillion compared to what is right. So if you, if you have any significant buying and selling going on, it’s, it’s gonna. Significantly change the price quickly, but as that market cap goes up, what I’m asking about has more to do, less to do with the price and the nature of the actual, uh, concept of Bitcoin versus the concept of gold.

In theory, they’re very similar.

They, they definitely are. Uh, uh, again, I think it’s a different investor. Uh, I think it’s a different type of investor, but I think their goals are the same. Um, and, and as this Bitcoin group that’s invest now, I hope that their clients of mine at some point in the future, when they get a little older and they say, you know what, I’m, I don’t like the volatility.

What I really want is to be in something a little bit more stable. And look, you look at the, the increase in Bitcoin, you look at the increase in gold. There’s no count, there’s no question that we all wish we could go back 10 years and, and, and buy Bitcoin. Um, but at the same time, the the stomach that you have to have, it’s a, it’s intense.

And you know, we, we, like I said, we accept BCA Bitcoin as as payment. We realize there’s a place in portfolios for that. Um, but we still more stability and I think that’s the difference than, than Golden Bitcoin.

Well, uh, tell us a little bit more about your business and you know, how people.

So we’ve, we’ve got a, uh, a great story that, that I typically lead off with, but we went straight into the central banks.

But just to let you know about Blanchard. So 50 years ago, uh, our founder, James Blanchard, uh, he hired a, a, a plane with a banner. You know, the ones that you see on the beach that says, you know all you can eat buffet for $11. Well, his said legalize gold, and he actually flew it. Uh, around, uh, president Nixon’s inaugurate inauguration.

So from 1933 to when President Nixon took office, it was a legal own gold, and our, uh, founder, uh, worked really hard to make it so you and I and your listeners can actually own physical gold. So once that banner, I mean, can you imagine. Trying to fly a banner near inauguration now he’d be shot out of the sky.

So he, he was able to do it and it made a, a real impact. Um, and so Blanchard was one of the first gold firms out there, if not the first. And then we, uh, we were able to. Become national because we, we put on this conference back in the seventies and we had, you know, Milton Freeman, Margaret Thatcher, Alan Greenspan, Ron Paul, various presidents throughout the years, come speak.

And, uh, this entire gold bug group would come and listen to, uh, these speakers at, at this conference. And so now all of a sudden, Blanchard comedy became, uh, a, uh, a national company instead of just a, a company in New Orleans. And that kind of set. Separates us from, from the rest of the group. So we’ve been here for 50 years.

We’ll be here for another 50. We make it insanely easy for somebody to, to come on board. You know, we, most people don’t know a lot about gold and they’re hesitant, uh, because it’s, it is a little bit. I’m not gonna say scary, that’s not the right word, but it’s the unknown. And the known is all you do is just like a stockbroker.

You, you fund the account, we discuss what your goals are, we put you in the right, uh, fit in terms of the asset class, and then we ship it directly to you. And then you have a, a, a portfolio manager that you work with directly. So you don’t have to, you know, a lot of our competition, they just sell gold and that’s it.

You build the relationship with us. And that’s what what I think sets us apart is that we’re, we’re gonna be there when you have questions. We’re gonna be there when you have con concerns. Most importantly, we’re gonna be there when you’re ready to buy. Um, excuse me, when you’re ready to sell the gold back to us and we, we’ll buy it back from you.

And that makes, you know, that kind of, uh. Collo dagger of what’s gold? I don’t know what it means. I don’t know what it does. It, it, it really does set us apart and makes people feel more comfortable. And that’s all we’re trying to do. We’re trying to build relationships, we’re trying to make investors comfortable, and we’re trying to make it incredibly easy for them to do business with us so they can feel safe and have that insurance policy.

Um, and, and, you know, financial crisis was a, was a great, um, uh. You know, kind of the, the what happened during the financial crisis, the gold is went from 900 to 700 and 700 all the way up to 11, 1200. So it acted like a liquidity asset. So people needed to raise liquidity. They sold gold, they got the cash, and then once the dust started to settle, people started getting back into, into gold because they realized the value that it has in a portfolio.

We would never say liquidate all your stocks and bonds and other assets and buy. Nothing but gold. We just say, you know, five, 10%, maybe 15 depending on your appetite. But, uh, but it’s just, it’s something that does well in a portfolio. It balances out a portfolio. And again, hopefully you never need it. When, when you do, your family’s gonna be well, much better off than if you didn’t have it in the portfolio.

Got it. Thanks so much for being on the show today.

Great. Appreciate it.

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can’t be used by you. Check it out for yourself by going to wealthformulabanking.com. Welcome back to the show everyone. Hope you enjoyed it. Again, a very interesting concept. We’ve talked about Golden, um, for many years, many shows on this, uh, topic.

And, um, I certainly, uh, certainly have changed my view on it. I mean, I’ve always been sort of not a gold guy at all, and I, I still am a little bit, uh, reticent about it, especially since, I think personally, I think a big, the big move that’s made is probably a major correction from, um, all these years where it did not move, but it’s still probably, uh, it’s still probably something that everyone should have some exposure to.

Um, but again. Look for where Bitcoin is headed. ’cause I think that’s, uh, I think that’s digital gold in the future, in my humble opinion. That’s it for me this week on Wealth Formula Podcast. This is Buck Joffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom o Wright and Ken McElroy.

Visit wealthformularoadmap.com.