This week, Dr. Forrest Bryant interviews Tory Aggeler, senior advisor with McAlvany International Collectors Associates.


Books Mentioned in this Podcast

The following is a transcript of the podcast audio.

Welcome to the High Speed podcast.  The official podcast of the High Speed Alliance taking you further, faster, together.  We are setting our course for freedom and legacy through mastery of business, finance, family and lifestyle.

FB:  Welcome to the High Speed podcast.  This is your host Dr.  Forrest Bryant. And I’m excited to have my guest today Tory Aggeler, Senior Advisor with McAlvany ICA.  Tory, how are you today?

TA:  I’m doing great. Well, (can’t understand not so good audio) appreciate it for being here.

FB:  Well, great I sure appreciate you being here.  I’m really excited about this.  I’ve been a big fan of precious metals for a long time.  And I’ve been associated with your company for gosh maybe going on a decade I guess now.  And I’ve been just really just pleased along the way with McAlvany and I’m a big fan of Don McAlvany and David McAlvany and the company.  I know they’ve been involved with precious metals with the McAlvany ICA for I believed 40 years somewhere along that line. Since the?

TA:  Since 1972.

FB:  1972, yup. I can do easy math on that.  That’s 45 years.  But I’ve been a big fan of theirs over the years and a fan of yours too.  Since we’ve been working together for awhile.  I’m excited about you coming in.  You know our High Speed Alliance we deal a lot with doctors and dentists and CEOs.  And you have a little bit of a medical background as well that you kind of bring to the table and you’ve been working with your clients for McAlvany ICA for I believe a decade now with them.  And you’re helping your clients diversified in the physical precious metals.  And teach a diverse, dynamic metals portfolio.  So, why don’t you just tell our listeners a little bit, a little more detail about McAlvany and about yourself?

TA:  I’ll do that.  You know this company was founded in 1972 back when (can’t understand) but oh, Don and Molly McAlvany started the company and trying to meet the needs in a way they were able to do that was by renting 24 karat gold coins with typical (can’t understand) items.  So you were allowed to buy sole gold because it’s in a collectible form or it has religious medallion purposes.  And so they pursue the latter and the former actually with collectible coins.  That’s where being the International Collectors Association came from. And so they’ve been propelling their own business now run in the 2nd generation format with David McAlvany our current President/CEO.  And Don is still the Chairman and spends most of the year overseas/internationally although the Asia Pacific.  And I am totally blessed to work here as you and I willing to.  It’s something that our backgrounds are pretty similar and with the High Speed Alliance type of member it sounds like I, you know purposely a good fit.  We stumbled on that later.  My sports medicine in medical background came particularly in after training in physical therapy.  We own a clinic here, diversifying out sold that clinic.  And had to do something new within outcompete.  And this industry, this area, the economy and following monetary policy and investments really intrigued me. And here I am non-compete clause far long ago, terminated.  And I’m still loving what I’m doing and have no intention to ever leave.

FB:  Wow, that’s great.  Well, feel very sorry for you to check and to live in Durango, Colorado.  I mean I’m sure that’s all (can’t understand) in it?

TA:  It’s tough.  But tell you what, I’ve never seen Huntsville and I’m excited to get out of Durango too, you know.  So, we’ve got to hit the road alot.  Don and David will be actually on tour if you will this summer.  Hitting 5 cities out West and  Paul will come out to the East and to the South. Yeah, I love getting out of town and I really look forward to your conference (can’t understand), you and I. It’s good to get out of this small town and see the world every once in awhile.

FB:  Well, we’re excited that you’re coming.  We’ll be glad to show off Huntsville to you.  Okay so, just a reminder this first section is the public section and it’s really designed for doctors, dentists and CEOs that are maybe new to not just real estate investing but also what we’re talking about here.  You know maybe we’re going to try to keep it in a high level view and talk about precious metals for somebody maybe that is new to that and hasn’t invested in it before.  Then, we’re going to go the the members only on the back and then we go a little bit deeper and we’ll talk about some more advance techniques on how to wrap things up.  But you know I know we could talk about you know it fascinates me and I’m a big fan of just keeping in touch with the economy and geopolitical news and everything that’s going on. And I personally a big follower of David McAlvany and his weekly podcasts I listened to it so I heard our listeners to check that out.  But we could really spend a lot of time talking about that but would you like to kind of give us some comments on just maybe a 30,000 view on what’s going on in the economy and what you all kind of focusing on right now?

TA:  You bet.  When I was working at things economically I mean we can obviously you can take the micro and the macro viewpoint. We try to do both because it really does help with understanding cycles and whether or not you’re not a full or bare cycle. Now, you could be in a sick or gold.  Bare for example like what the metals did on 2012-2015.  And that can all take place in an secular bold markets which we have resume since the first few days in 2016.  So, in regards to that U.S. economic feature I mean obviously it’s not mutually exclusive from the global economic feature.  And with that, it goes hand in hand with global monetary policy and I think if you’re going to take that 30,000 foot view and we can get to focus on fundamentals or technicals.  And if we just look at the fundamentals Dr. Bryant it’s shocking to see how the central bank will be intervening not just begun but really continue with full force the intervention in the markets and call it manipulation, call it intervention you know, call it stirring the markets whatever you want to say but choosing the markets. But what easy monetary policy that to me is first and foremost the most significant economic event because with that hand in hand has come change global debt.  And I’m not just talking about consumer debt, we’re talking about government debt. And Central Bank’s adding all these assets to their balance sheets essentially assuming that.  And risky assets trying to pop up in the market.  So to me that’s number 1 even though we’ve seen gold and silver take breathers along the way since 2001. Where gold is in a full market because of their aging monetary policy compounded with low interest rates.  So to me those are the primary issues to focus on.

FB:  Okay, and so let’s just kind of talk about the history of precious metals just you know let’s kind of take it back and bring it back to the future here is you know for somebody that’s new, you know.  Give us a little history.

TA: Alright well, the whole reason that our currency used to be backed by gold and silver was because of the fact that it was a restraint, right? I mean human nature is to do what we’re seeing what the central bank’s are doing out and that is to print for UE and try to just make money easily accessible to as many people as possible for the sake of tax revenue, for the sake of economic stimulus you know, guinea pig growth.  And so when we were backed by gold and silver that was something that kept that money printing in check and back then it was technically it’s through money printing but now it’s digital creation.  But gold and silver really was the responsible aspect of our monetary system.  And now, you do not only have the United States with the fiat monetary system which means it’s not backed by gold.  Every currency in the world is about fiat.  And so, they’ve now become unleashed and now it’s just a matter of inter-currency manipulations and adjustments to try to adjust from one currency to another.  And determining that the person in power, the economic trade, the advantage on how.  We’ve lost that responsible tender that gold provided.  Backed in 1933, FTR made it illegal to buy and sell bullion coins and bars and gold certificates  And that was their first step in being able to devalue the U.S dollar because a year later they adjusted that the to our surprise on gold from $20 an ounce to $35.  So you had an immediate 75% reduction in the purchasing power of the currency and that’s only accelerated since then you know we’ve lost over 90% of the purchasing power of the dollars since.  And then next and really close the gold window in 1972 which is really when Don and Molly realized that the need for being able to step in to the gold and silver and a portfolio.  And so, Don petitioned to congress with Sonny and Jesse Helms and made it legal to own bullion again in 1974.  And since then it’s become detached from the currency and you’ve seen it move from that $35 an ounce up to where we are now at $1,265 today.  And again that is not because of some crazy bubble or some investment that’s strictly indicative of the U.S. dollar loosing that much in relative purchasing power.

FB:  Absolutely,  So, let’s look at the just the uses of these metals I know guess we’re using the terms precious metals but we’re kind of.  Now we’re talking about gold and silver but also bringing in the platinum and palladium also into this bankative metals.

TA:  Absolutely. So, uses obviously there’s many industrial uses in the White House.  Platinum and Palladium are heavily utilized and catalytic converters for example.  Platinum is a jewelry metal.  Silver is a jewelry metal.  Silver is used heavily in electronics great connector.  Where gold tends to be the more stable monetary metal.  You’ve got a lot of uses in those other precious metals industrially.  Far more sensitivity to economic stagnation or acceleration you know.  Inflation versus deflation and whereas gold tends to be you know steady-heady if you will (can’t understand) on what departments on that money metal.  So we utilize the relationship between those metals alot because of it’s uses.  And if we look at the economic fundamentals and projections we can kind of determine what we believed is going to occur especially in the White House sector with Platinum, Palladium and Silver.  And use that to our advantage in portfolios and you introduced this by mentioning a dynamic precious metals portfolio.  And that’s really how you want to look at it.  You want to look at all precious metals to what they can offer you from an investment standpoint.  It’s not to your speculation it’s just prudent and wise to (can’t understand) the history type of approach.  If that answers your question in terms on how we can utilize precious metals.  Because they’re all scarce that’s why they’re called precious.  And yet we have the opportunity to really put it into a compounding ounce strategy used in the portfolio.

FB:  I like that.  And so, would you expect that in the future that need for those metals especially the white metals is going to increase with time.  I know you mentioned silver being used in electronics we expect that to continue?

TA:  Absolutely, you know and the only reason that they’re down now.  Palladium is one exception.  Palladium is solid for a couple of years here and almost come to par with platinum and that is very very rare.  And we haven’t seen that since this company existed 45 years.  Where platinum had been so under valued not only versus palladium it’s sister metal but also versus gold.  You know back in 2008 where the crisis hit and ounce of platinum was about $2,200 an ounce and to gold’s $1,000 an ounce you know.  And here we are, platinum 25% under the gold price which is just shocking.  And so because it’s like a potential energy where we’ve got this done on the spring platinum and silver is doing the same thing.  That when it takes off and when inflation gets place those white metals will outperform gold and more specifically platinum will outperform palladium.  And we’ll see it chunk back up into that 3 or 4 times the price of palladium range.

FB:  Yeah, I like that.  And you know that might be a good segway just mentioning how platinum was undervalued and we recently have a discussion about that and that’s one reason we picked up some platinum in our portfolio.  But yeah let’s talk about undervalued markets versus overvalued markets.  And you know that’s one thing as contrary an investors that we’re constantly looking at to see you know. To follow the aged old investment advise to buy low and sell high you know.  How would you rate the stock market and I know real estate is not your specialty but you know I can just chime in a little bit on that one versus precious metals market right now.

TA:  That’s a great question because you know.  If that’s the truth that you are considered contrarian investor anymore you’re buying low and selling high.  You know, we’re not it’s like..

FB:  That’s not.  Make sure he likes to do it.  Make sure he likes to buy high and sell low, right?  It’s that the way you do it?  That’s where you get broke…

TA:  That’s the psychology of investment.  I’ll tell you what when you’re trying to help  managed portfolios to  your people to do the right investment you really do the work against that.  That normal psychology of look you know everybody else is doing this?  Why are you telling me to do this?  You’re telling me to do the opposite.  And so, it can get a little frustrating but it really comes back to just education and eventually they grasp the bigger picture.  I know you deal a lot with in real estate.  I know that there were some paradigms that were shattered you know back in 2007 and 2008 when the market toppled and crashed a thousand you know not only housing but in the stock market.  And it took years for the stock market to sort of rebuild some trust and confidence.  And now, you’ve got that team sort of (can’t understand) mentality, bubble mentality clinging into the stock market and for us we put (can’t understand) or valued asset.  There’s a few ways that you can approach that.  You can look at the dial to gold ratio for example where if you just simply take the value of the dial and let’s just say you know it’s $21,000 you need to divide it by $1,265 which is the spot price of gold.  You’re at the 16:1 ratio well we’ve see that coming historically down repeatedly below 4-1, 3-1, 2-1 even 1-1 where an ounce of gold was equal the share price of the dial.  And so that’s one way to show how overvalued.  Now, back in 2008 before the crash you actually saw that peeked out all the way over at 40-1.  And so we’re screaming from the rooftop since Don wrote he’s newsletter get out of the market.  But we see the same thing now for different reasons and a lot of it has to do with  who the buyers are and one for the Bank of Japan and the European Central Bank putting in between 200 and 250 billion into the global stock markets particularly ours.  You wouldn’t see these numbers right is long overdue for a healthy correction as if it do the same this is just something that look, why go into a market that’s in an all time high and relative to other asset classes?  You know, we’re exaggerating this value when you can go under the more  undervalued asset class. That  doesn’t have to be gold and depending on the housing market as you know there’s some that haven’t recovered early as much as others.  One city might be telling you that it’s topping out again and another city may say look this is a great value we haven’t even come close to recovering from the crash.  And because everything happens in different times.  So, that being said the best values in the precious metals markets are in silver and platinum and you know as long as you have patience.  But I’m with you I believe that we’re looking into top and stock.

FB :  I totally agree with the roll over valuation on the stock market.  Real estate market is getting overvalued in some areas especially in some of the volatile markets California, Florida, Nevada, Arizona some of those markets are getting hot.  There’s still a lot of good values out out there though.  So I think a lot of people I talked to.  I think we still got little further to run before the we- wheels come off.  We’re definitely getting towards the top of the cycle and I totally agree with I think the metals are very undervalued right now but (can’t hear clearly).  Before we go there let me go ask you one other question.  Talk about just while we’re still in the global view here before we dive down and get a little focus.  There’s a lot of talk about you know the golden rule.  He who has the gold makes the rules not in states has been a net seller of gold for a long time.  And a lot of these are margin countries are net buyers of gold and that’s been happening for awhile.  Can you comment on that and just you know where those trends are going?

TA:  Absolutely.  All you have to do is look at the (can’t understand).  Look at the ETFs for example you can follow your recently between 800 and 1000 tons of gold have left the U.S. ETF market gone through London on it’s way to Shanghai and Hong Kong you know.  What happens when that gold metals come back right I mean.  That’s going somewhere where they get it.   They understand the big picture there’s a lot talk about China backing their currency with gold that would really rock the currency market in different (can’t understand) center you know.  (can’t understand) the currency stage.  The petrol dollars are already in a lot of stress, a lot more competition that we’ve seen in decades.  And you know in some of that to we’re losing relationship in the Middle East just for the fact that we’ve become a net exporter to between a million barrels a day in terms of oil.  And so, what we’re seeing is we’re seeing a lot of physical metal leave the United States, leave Wall Street.  And end up in the (can’t understand) of these Asian banks.  China in particular, Russia baking that fire, Turkey baking that fire.  And so like what you’re saying, he who has the most gold wins.  It would be a very very interesting world stage over the next few decades in regards to what happens with the metals that are leaving here.  And I’m not trying to put a fear in the ETF market but back 2 years ago there was as manipulation in the gold price.  And there was a rampant delivery options in terms of coming off the (can’t understand) where the future’s contract we’re being we’re coming to maturity and they were questioned delivery.  And the (can’t understand) had you know literally hundreds of tons of gold that were expected to be delivered.  And so, what ended up happening is a very effective coordinated attack on the stock price of gold in order to dissuade and sort of created distaste for gold in that spring.  And it was pretty effective.  Because you know selling to get selling especially with the computer generated world that we have looking for trading.  I think it’s something that they know it’s a great concern.  And when everybody that owns paper contracts, paper gold thinks they can get delivery of gold they’ll going to have a couple of realizations.  One is if you don’t have it already you’re never going to get it, you know.  And 2 if you don’t have it in hand you’re going to have a hard time getting access to it.  So, that’s going to be the 2 realizations that concern me greatly with the amount of gold that we see leaving the last.

FB:  Well, and in knowing that it’ll be a good time to plug at every American out there who’s listening.  It’s your American duty to keep some that precious metals here in the country.  So, let’s while we’re on that let’s kind of go a little bit less macro.  And dive down into, I know a lot of our listeners are doctors, dentists, small business CEOs.  Why do you think it’d be important for them to have precious metals in their portfolio.  What advantages (can’t understand)

TA:  It’s all about 2 things really diversification  right which is self-explanatory.  And then also hedge.  And when we talk about what precious metals do for you.  I mean a hedge in regards to diversifying out of paper altogether.  So, a hedge obviously can be something that balances your risk and exposure.  And so if you are 100% paper okay back in the 50’s for example it was a norm to put 30 or 35% of your liquid assets into portfolio into stocks and now we’ve been brainwashed into thinking that it’s okay to do 90-100% of your investable assets into stocks in a variety of risky ventures I guess if you will.  They’re try to tell you that your risk is diversified by the type of stock that you’re owning.  And so it would be exception to ETF and mutual funds that lends the impression that there’s less risk and so you can put more money into it.  Well really you have got to be in something that can’t go to zero and you can hold in your hands much like use to be able to take  delivered the tax certificate which nobody does anymore.  And you have that opportunity to be out of paper altogether.  And that really is important because it’s guaranteed income down the road, right?  And you’re not depending upon on how well that company is run.  Or the shares of that company you know sinking or mass selling and things that expose it.  When you hold that metal in your hand you’ll realize that this is something that is truly valued and it’s something that nobody can tell me isn’t worth that amount.  And it is something that I will always get you know certain numbers of dollars for.  Depending upon what are U.S. dollars are doing, so that’s really it.  Diversification is a true form of diversification is most importantly is a hedge against currency weakness.  It’s a hedge against geopolitical strains.  It’s a hedge against political tensions.  It’s a hedge against just uncertainty.  It’s a hedge against you now the stock market crashed a lot of times when you have sharp pullbacks.  There’s massive plight into the U.S. dollars.  There’s a massive plight into the physical price.  Even if the stock price isn’t moving people are buying physical metals like crazy and you don’t want to be paying high premiums in that environment.

FB:  You know, one thing you’ve said there, this is far as looking at the longevity.  Looking back at the example used earlier.  The price of gold 1933 went to $20-$35 and look at it today it’s $1,265.  If you compare that to if you could invest on that you know.  There’s probably, I’m sure there are few I can’t think of it on the top of my head, you know.  How many stocks out there you know.  There might be 1 or 2 or even still in business now that where in business in 1933. But there’s a vast majority though that vanished in the business I believe.

TA:  Yeah, well was is it G.E. is the only remaining company in the original dial?  So, they can try to value the dial comfortably than what is used to be but none of the companies really I can say

FB:  That’s right.  I would bare say.  If somebody knows that’s listening should be name of the stock  that was a company that is business in 1933 and that it’s still kicking in today.  I’d like to know what it is.  Okay so, define  diverse and dynamic precious metals portfolio?  What does that mean?

TA: Well, the metals diversifying portfolio, once you’re into that niche it’s no different than you would approach stocks.  Just because you’re taking you know a portion of your portfolio in investing in stocks doesn’t mean you don’t diversify in the stocks that you’re buying as well.  And we really pushed that with the physical precious metals.  We have the 4 metals types you know that we discussed early in the program and within each of those you actually have 2 categories also  You have the bullion category which is not only bars and ingots it’s also coins.  So anything that’s newly minted is considered a bullion products even if it’s a trinket of sorts or a short-lived mint products that they’re trying to get out there for as you need nature that’s still considered bullion.  Anything that’s money minted certainly your 24 karat products.  The other category is named a (can’t understand the term) category okay.  And that actually branches a little bit too where you have sir my name is (can’t understand) and you have knew my name is (can’t understand) where just like priceless art and gems.  There’s a big market out there of rare, rare coins in terms of asset preservation or collectible cards.  So the coin will play in that market sector as well where that will always have some value and some markets can actually appreciate significantly.  But the say my name is (can’t understand) the other area that we pushed like people into there’s a couple of reasons that’s important as I said earlier it was gold bullion that is made illegal to own back in 1933 and that’s only happened once in the United States and it lasted for 41 years.  And it’s happened though for 40 times around the world and it’s always been bullion. And so with that historical precedence, a lot of clients like to diversify into some of the sir my name is (can’t understand) strictly because they’ve never made illegal to own you know.  You would hate to do the right thing and buy gold bullion only to have the government turn around and shut down those markets again.  So the benefit of the bullion is much lower premiums, more closely private stocks.  The benefit of sir my name is (can’t understand) is that again historically have been void from confiscation.  And also you can have some potential premium place which you don’t get in the bullion market.  And we can see that in gold and silver and then diversifying within the different metals.  We can do a lot of ratio trading and premium swapping where were picking up ounces for free.  So long winded answer to your question Dr. Bryant diversification is all of the above 4 different metal types and 2 different categories on each.

FB:  Excellent.  And so we might get into a little bit back on the members only section. That’s a little bit in the weeds for this first section and also.  Let’s and I don’t want to get too deep.  So let’s try to not to go too deep but just in general I just would like listeners to understand that you mentioned dial gold earlier.  Just on a high level we kind of define that in a little bit but also gold , silver and you mentioned without going into detail.  You know some of those principles about on how to increase ounces.  Can you do that without going to deep? Just kind of peek everybody’s interest a little bit.

TA: You bet.  So if we’re looking into gold-silver ratio for example that long term historic price averages between the 2.  It doesn’t even go back to the difficult times it’s 16-1.  Gold were 16 times more per ounce than silver.  You know that set the long term precedence but since then it’s actually been re-established at a higher figure especially after the Federal Reserve inception.  So, you know we watched those ratios closely.  We’ve been doing that over 35 years and you have that opportunity as that pendulum swings.  From gold being overvalued to gold being undervalued or vice versa.  Silver being overvalued versus the undervalue aspect of it. You can trade between the 2 and pick up ounces for free.  So, we look at that on those ratios and we also look at that in premiums.  So if you’ve got a house in a hot market and you’ve got an offer on that house that is above market value.  And you’ve been looking to sell anyway, that’s the perfect time for you to sell that house at above market value and turn around and take those proceeds and invest into another house in a different market or steal of deal within that same market.  And you picked up more house for the dollar.  Okay and that’s the same thing for the metals you are just looking for the next most undervalued class once you’ve used the purchasing power of the performance of one to increase you know the product that you get in the other.  I hope that make sense and that leads to more questions.

FB:  Yeah, you will and that’s a perfect example for my real estate listeners.  I mean perfect example for housing crisis on 2010.  You could picked them up and you could steal on it then we’re at the top of seller’s market right now.  So if anybody was buying houses in 2010 and they’re looking into prices now in 2017.  It’s time to take profits, make some money on the table and take some chips off the table.  So, It’s kind of almost the same exact thing just get moving from you know from one currency to another.  From a house to cash.  From gold to silver. So let’s see, let’s talk about different ways to take or to purchase I mean obviously.  I think there’s a lot of commercials on t.v. that are talking about your gold IRA.  Obviously, this can be purchased in an IRA account or they can be purchase on a cash basis.  So, you know let’s talk about that for a minute.  Let’s talk about purchasing metals in a IRA account versus taking possession.

TA:  Yeah, you know when you’re looking at your total portfolio and we talk about percentages on your portfolio.  We don’t separate up based on what’s in a retirement account versus on what’s not.  For some people, there are only investable monies are in the form of a qualified plan.  And so, since the IRS allowed for precious metals to be held in an IRA in 1986.  We were the first company to offer that up and (can’t understand) again providing that service.  And we’ve done well ever since with the benefit being very, very easy to swap metals because it’s in storage there’s no shipping back and forth.  The benefit we have to take deliveries some people are uncomfortable taking deliveries.  But those retirement accounts you can move apart or an entire IRA over it could be a traditional or Roth or (can’t understand) or simple that matter you could move into a physical precious metals IRA and then that metal obviously has to be stored.  Unfortunately, there’s a loophole that’s being exploited here recently by some companies where they’re telling you go form an LLC and then you can be your own trustee and custodian your own metals out of your retirement account and take delivery.  So, I would encourage your listeners not to fall prey to that trap and just let it work for you the way the law intends.  And avoid those tax consequences down the road for those early distribution penalties but you know it’s simple.  If you ever do want to take a distribution you can take it in a form of a note.  You can do an in-time distribution.  We do hundred of those a year you know to either required minimum distributions.  Or somebody’s just give them more comfortable of taking possession of a part of it.  So, it’s a very, very convenient beneficial way of owning physical metals in the form of an IRA.

FB:  I like that.  I hadn’t really thought about how to get those out.  I didn’t know if we would sell it and then take cash and actually take the metals out.  That’s an interesting thought for later on.  I like that.  So, what’s the biggest mistake that you’ve made in investing or that you’ve seen in precious metals investing?  

TA:  Well, I can commensurate maybe with some of your investors maybe they’ve been far more stupid than I was with getting into the real estate.  The biggest mistake I made in investing was in buying a property in Phoenix, Arizona.  And that was not the mistake, the mistake was not falling in when I should have.  And I have an opportunity to but I avoided selling because I haven’t owned it for 2 years.  And I was worried about the tax liability with that and I’m telling you it came down to just a couple of months later and I had missed the boat.  And the market crashed and I was stockholding it for another decade.  So, I’d say that’s my biggest mistake.  The best thing I’ve ever done investing wise is the precious metals.  And I learned so much more about it you know the details of it after starting at McAlvany’s ICA.  And so, we had in 2008 took family trust assets because of our concern with the stock market crash looming.  And we purchased what’s called the MS63 $20 liberties.   And those gold coins those 1 ounce coins, the early american grated coins.  And when the stock market market crashed gold initially came off 28% so there’s a small window there where everybody just squeezed into the dollar.  And that U.S dollar rally actually had an immediate impact on gold for a couple of few weeks.  Well the physical buying was so intense that the premiums on these MS63 $20 liberties were at 42% and so we were able to sell those and step into gold bullion at that point so that was a 64% swing and then we rolled the price of bullion from 700 to 1900 after that.  So that was probably best investment that I made in a probably say volatile market at that time.

FB:  Wow.  That’s great.  So, let’s just  I know you’re a fan of networking.  I know David and Don are going on the road and we talked about.  I’m excited I’d like to go hear them speak.  So I probably trying to find that when they’re in the East Coast to go see them.  I’d want to encourage our listeners who want to go with me to let me know.  So,, but do you think if somebody is listening to this podcast and they’re (can’t understand) a little bit about this.  Are they ready to go out and start buying and selling gold and silver?

TA:  No, you know you talking about one of the biggest mistake I made in investing.  Unfortunately, in my industry I’ve seen so many mistakes made in investing in gold and silver.  And the reason being either A they got it alone thinking that they had all the information necessary.  Well, B they went with a lesser reputable company with a short tenure of existence, .they’ve got taken advantage of, and got quit into something they may never recover their principal loan.  And so you’ve got to be very very careful and do your legwork.  You have to plug yourself in exactly on what you’re doing.  That your HIgh Speed Alliance is your perfect opportunity for people to get light minded individuals and seek counsel, right.  We need to seek counsel and we need to seek advice and we need to go with people that have obviously had good success and a trustworthy experience.  And I cannot tell you there’s this is an unregulated industry and unfortunately there’s just a lot of shady mess in the precious metals world.  So be careful there you don’t have to do it alone you know.  You can buy things online for cheaper but were a managerial advisory type of approach to the physical precious metals.  And just like what seeking advice and counsel in any market sector that’s what we’re here to offer you rather than you try to do it alone and learn it the hard way.  So, good work on your part with trying to get people coordinated and informed that way.  And we need everybody plugged into that.  You can go far more macro and go listen to other people on your own as well and seek a bunch of opinions.  At Least, you know you’re going to seek more rather than fewer and avoid some of the pitfalls and the traps.

FB:  I totally agree,  That’s why we’re doing what we’re doing is to help people get to their goals.  That’s our tagline-further and faster but we got to do it together.  We want to get help people than they think they can get  there.  We want to get there faster.  Speed is important but you can only do that if you know the right people.  And I consider you and McAlvany to be the right people of the right advice and have been doing this for a long time.  So, I appreciate you.  So, do you have a favorite quote or a favorite book or a resource that you’d like to share?

TA:  Yeah, that’s great.  You know I that there’s a little known book maybe called Livia Bailey.   And I love it because it’s just intriguing story very-well written.  But this is you now almost a hundred year old book.  But it opens with the word consistency right as if it’s a negative. And I think in some instances we all can see that it is a negative.  When you’re approaching your portfolio your investment mind set  isn’t the same today as it was 10 years ago.  We talked about the paradigm shift and all that.  Well, this quote is pretty good and I’m just going to leave this here.  Just to kind of give your listeners since “Of those who come after me there’s been much hell and ruin and inevitably blocks on innocent people, on innocent countries by men who may have hurt you of consistency.”  And it he goes on to describe how the consistency, the consistent belief structure that we will fall and sore over.  Often times it’s just playing out to be the wrong view point right?  I would say take that and be open right?  Don’t be short-sided.  Don’t (can’t understand) your consistency.  Be willing to change, you know.  It doesn’t mean you’re changing political parties or your changing your investment advisor anything of that nature.  It’s just be open to it you know and don’t make a virtue of consistency because if you do that.  You’re going to miss a lot of opportunity and you will going to make a lot of mistakes and there a lot of hills that you’ll die on over and over again.  I hope that helps.

FB:  Yeah.  I love it.  That’s awesome.  One more question what’s your definition of freedom?

TA:  Definition of freedom is for me to be able to go throughout my day doing what I please it’s not harmful to others and hopefully not harmful to myself.  But to be able to walk through life in away where I don’t feel as if I’ve got somebody is looking over my shoulder, restricting me or questioning me or (can’t understand)

FB:  Tory, I wanted to I didn’t want to get off the podcast today without mentioning.  I want this to go to in the show notes David’s book-David McAlvany’s book “Intentional Legacy” was just incredible. And so I just want to make sure that we got that into the show notes for today.  Please tell David that I love this book and that’s one thing.  High Speed Alliance is really about 2 things.  It’s about freedom and it’s about legacy so that mean a lot to me.  And so for our listeners if you’re out there if you haven’t read David’s book yet please get a copy of it.  And read it and love it.

TA:  I strongly recommend it.  And he would be in your conference in person if it weren’t  for a fact that he and his dad are travelling together.  And not just to get up on the word legacy but to be a living example to that and he often times brings his own children on the road ad Don did with him but it’s more than that.  It’s not just about your portfolio legacy- it’s family legacy.  So, call me and I can help you with getting a copy.

FB:  If our listeners want to get in touch with you, how do they do that?

TA:   You know Dr. Bryant I’m pretty old school.  I mean we’ve got a website and all that.  To get in touch with me though, I’m happy to give my direct number to my desk.  You don’t have to go through the receptionist or (can’t understand).  And I would just encourage to call.  I’m not going to talk with your off.  But if you want a (can’t understand) information.  If you want access to you know maybe 2 podcasts a week.  One that’s about 8-10 minutes long specific to the metals.  I’d love to sign you up for that for free.  And then same thing with our McAlvany weekly commentary which is a more macro economic view.  But just call me honestly it’s 866-211-8972 and that’s a toll-free and ring right to my desk.

 

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