THE GOLD STANDARD: History Shows Precious Metals Are a Safe Bet | Dr. Mike Fuljenz

Full Episode Transcript:

Mike Fuljenz: This year with global uncertainty and turmoil with the debt hitting 35 trillion, Bank of America says, do what central banks are doing by gold. They predict gold to go over 3, 000 next year. And I do too. Silver is up more than gold this year. In fact, it’s the top performing investment. Gold’s number three, silver’s done very well.

And I expect it to keep going up. Gold’s been money for 2, 500 years. In 1923, Lamar University here, our local university was founded. I did the coin flip at a football game here, college football game. Three of those 20 gold pieces I flipped and donated to the university would have bought tuition and books in 1923.

Right now, those three 20 gold pieces would buy tuition and books. And room and board.

Rebecca Weber: Hello everyone. I’m Rebecca Weber, and today we are honored to have with us an industry leader and true expert in the world of precious metals. Mike Gins, known as America’s gold expert, has decades of experience in the gold and silver markets, and he is widely recognized for his insightful analysis and deep knowledge of how these valuable resources can serve as a safe haven.

In times of economic uncertainty, Mike, welcome to better for America. It’s great to be with you today.

Mike Fuljenz: Oh, I’m honored, Rebecca. Thank you for having me. Y’all do such wonderful work.

Rebecca Weber: Mike, you’ve been in the precious metals business for over 40 years. I want to. Start big and then we can get a little bit smaller.

But given the state of Biden’s economic economy rather with really soaring inflation and concerns over runaway government spending, what are some of the key lessons that you’ve learned about how gold and silver can protect wealth during times of Economic uncertainty. And the reason why I ask you that is here at a Mac.

We’ve been a partner with your organization. First Fidelity Reserve. And this was something that damn Weber a Max founder thought very important that more Americans should invest in gold and silver. So, share with us a little bit how you see this strategy really being a good one during times of economic uncertainty.

Mike Fuljenz: this year with global uncertainty and turmoil, With the debt hitting 35 trillion, Bank of America says do what central banks are doing, buy gold. They predict gold to go over 3, 000 next year, and I do too. So does Citigroup, and gold’s up 30 percent this year. That’s more than double the Dow. And since 2000, January 1 of 2000, gold has almost tripled the Dow and S&P.

If you bought 110, 000 in gold in January of 2000, you’d have over a million dollars today. So, a lot of people don’t realize the performance that gold has had, and that’s very important and leading into it is. All the uncertainty out there and the turmoil and the overspending by the Democratic administration.

Rebecca Weber: Okay, so before we get into more, because this is such an interesting topic for me, I’m in, I, invest some in gold. I think it’s important that people understand that you’ve got to buy gold safely. and easily, and you’ve got to be careful who you’re working with. I don’t mean for this to sound like an infomercial for all of those out there listening.

That’s not what this is about, but rather we want to be sure that, all Americans, especially seniors, are not, duped, are not working with the wrong organization, or, with people that are, not really giving you the right products. So, tell us a little bit about what people should be, looking for before they buy gold.

Mike Fuljenz: we’re silver or precious metals. The Attorney General of Texas, Ken Paxton, I’m sure you’re familiar with General Paxton and Greg Abbott, our governor now, who was the previous Attorney General, both came to me to help them write consumer alerts to do just what you’re saying. What do you do to make sure You get what you’re paying for, and you’re not duped.

And there’s no Santa Claus. I like to say in gold bullion or precious metal buying, if, an offer is too good to be true, it probably is. And so, you want to pick a dealer who’s recognized by his peers nationally. has he got honors from his peers in the industry? Does he serve on boards in the industry?

That’s a simple thing. and those are some of the things I brought out to the attorney general and the consumer alert we did together. there are counterfeits all over the internet, Alibaba, Amazon, Facebook, you’ve got to be careful. I helped a doctor’s group recover in 1984 over a million dollars from a guy selling them counterfeits.

We’ve been friends ever since. I served 20 years teaching counterfeit detection to collectors, investors, and law enforcement, teaching continuing ed to law enforcement on this. So anyway, what I would say is do deal with a reputable dealer. Someone like who’s recommended by AMAC. Someone is, that someone who the attorney general used, someone who is not just a member of an organization.

You can have a heartbeat and a 30 check. Someone has been honored by his peers is what I would say.

Rebecca Weber: Very good. Very important information. Do your research, know who you’re working with, and it’s another great reason why we think this is an incredible member benefit because, we’ve had a partnership with your firm now for over 15 years.

You’ve helped, tens of thousands of AMAC members. really, important that you’re working with the right firm. And that is so key. Now, Mike, with the rise of digital currencies like Bitcoin, some are arguing that precious metals like gold are becoming outdated. How would you respond to that kind of a statement?

Do you see any future where gold and digital currencies coexist?

Mike Fuljenz: I think they are going to coexist for a while. Bitcoin’s here to stay, but if the computers go down or you’re in a hurricane and you need money. I know when Hurricane Harvey hit here and Chase Bank couldn’t give any money to the people who were account holders, then it was 500 a day.

I’m glad I had a tube of gold at home that I could sell to trusted dealers I knew a few hundred miles away from here and take care of employees, take care of needs because we couldn’t access our debit cards. And there was major problems for three weeks with the flooding in the area. So, I think they coexist, and they serve different needs.

And I’ll say one thing, gold’s been money for 2, 500 years. In 1923, Lamar University here, our local university, was founded. I did the coin flip at a football game here, college football game. Three of those 20 gold pieces I flipped and donated to the university would have bought tuition and books in 1923.

Right now, those three 20 gold pieces would buy tuition, books, room, and board. What was 60 in 1923 was over 6, 000 in 2023. That’s what gold does. And if it’s a little better, a numismatic, a rare gold coin, you get tuition and board two out of it.

Rebecca Weber: Wow. That is so interesting. So, it is something that, people can feel comfortable investing in if you’ve got long term, what would you say to people, who don’t have that long term horizon?

They don’t have the 10, 20, 50 years still a good investment.

Mike Fuljenz: It is, but I definitely recommend it for a five-to-10-year hold. but you look at this year, gold bullion. You could buy it, and if it goes up 30%, which it did this year, or goes up 820%, which it did since 2000, you can also make some money in the short term.

You just have to talk to your reputable dealer about what gold products are best for you in the time hold you expect to hold them.

Rebecca Weber: Really good, point. Thank you. now with upcoming elections and discussions around national debt and financial stability, how do you see political outcomes maybe affecting the gold market and overall economic outlook for investors?

Mike Fuljenz: I see that if Kamala Harris wins, we will have, more inflation. Now it could be buffered if we take the Senate. And right now, I’m hearing we’ve got a great chance to get 52 or 53 seats there. The house, not so much from being with the people. Maybe we went a few seats more or not. but if Kamala wins, you better have some gold.

Cause I think it’s going up. If trump wins it’s still going up because he’s got a battle you got 35 trillion in debt and the value of the dollar it’s going to take a lot to cut and 80 percent of our budget are things that are tough to cut like Medicare, social security and those things what I see is that global turmoil, central banks are buying a lot of gold, that’s not going to stop, mining is down, purchasing is up, I think gold’s a great place to be.

The World Gold Council says at least 15 to 20 percent. Of your investment portfolio should be in gold because it goes up when other things go down So you balance out gold is life insurance for the rest of your portfolio So you should keep adding gold so you have 15 to 20 percent of gold in your portfolio not 100 Not 50 unless you just die hard But you should have a balance of gold in your portfolio.

Rebecca Weber: Interesting. Very, good. tell us a little bit about other precious metals and how they’re performing, including silver and platinum.

Mike Fuljenz: silver is up more than gold this year. In fact, it’s the top performing investment. Gold’s number three. And silver is not the top since 2000. Gold’s above silver.

But silver’s done very well. And I expect it to keep going up. There’s all sorts of industrial uses. As we get to more EB type, and battery type things, there’s going to be more use for silver. So, I expect silver to do very well too, and if you’re on a budget, you can add a one-ounce silver coin for 35 to your portfolio a lot easier than adding a one ounce, gold coin, which would be like 2, So there’s a balance of both, and I like them both.

Rebecca Weber: Very good. Platinum? Any, feedback on Platinum?

Mike Fuljenz: Platinum and Palladium, not as excited about. I think they’ll go up. There’s needs for that. For catalytic converters, still for cars and other things for platinum and palladium, but I’m more excited about gold and silver over the short term.

Rebecca Weber: Excellent. So, for AMAC members who are concerned about leaving a financial legacy for their families, how can First Fidelity Reserve really help our members with a broader retirement, planning, or estate planning strategy?

Mike Fuljenz: Well, an old adage in our industry is buy the book before you buy the coins or get the gold guy before you get the gold. And so, First Fidelity, as we mentioned, has award winning materials, been voted the top in the industry. And I think their members can come and talk to a representative who can guide them through it and find what’s the best gold products for them.

And so that’s what I’d recommend. Call for some free materials. you could use it for kitty litter if you don’t like it or pass it on, but there’s some wonderful materials We have a 38-page gold, and precious metals guide covers all the precious metals and we have award winning books that are free and the professionals here will be glad to guide you all through that.

Rebecca Weber: Terrific. And remind our members, when they get this gold, their silver, what is the best way to really store, your precious metals? A lot of people are leaving it, at home, under the bed or in the closet.

Mike Fuljenz: No, I wouldn’t put it under the bed. I’ve never had someone lose their precious metals. In a safety deposit box in a bank or private security center.

I would get a box at a mid-level, not low in case there’s a flood, and not high because it might be tough to get down. But I like to keep the majority of it there. A small amount, relatively small amount, a safe. And my interviews and articles I’ve done with FBI and other law enforcement, don’t put the safe in the master bedroom or bathroom.

If someone robs your house and they’re on a time schedule, that’s where they go first. Put a safe in another room in a hidden area that you can access, if you have a hurricane or a problem where you need, a tube of gold or silver just to emergency exit with.

Rebecca Weber: Terrific. Really good tips, Mike. I, so appreciate you being with us.

And we value the relationship that we’ve had with First Fidelity Reserve for many, years. Thank you for these valuable insights, really in sharing how gold and silver can protect wealth during challenging times. before we let you go, Mike, any parting thoughts?

Mike Fuljenz: So, appreciate all the work you And Dan did over the years and all your organization does for all Americans and the betterment of our country and the soul of America. I really appreciate y’all.

Rebecca Weber: thank you, Michael. So, for everyone out there listening, be sure to check out amac.us/benefits. You’ll find there. Our relationship with First Fidelity Reserve, they’re here to help you, navigate the decisions that you, and the questions that you have around investing in gold and silver and precious metals.

This is an organization that is top notch and one that you can trust. Mike, thanks again for being here and to everyone out there listening, thank you for joining me. We’ll see you next time.