Speaker 1: So it's Davos week and a lot's going on back there.
How much of it makes sense. We'll talk about that
with Zach Abraham. Also, by the way, is this is
it true that people are hoarding physical silver and take
it away from the country and talk about this with
the help of Borward Capital Management. No yourskpodcast dot com
ends God Almighty, But.
Speaker 2: Todd Herman show is one percent disapproved by big pharma
technocrats in tyrone s everywhere from the high mountains of
Free America. Here's the Emerald City exile.
Speaker 1: Todd Herman. Today is the day the Lord has made,
and these are the times to which God has decided
we shall live in. Joining me my brother and friend
Zach Abraham Chief Investments or Borwart Capital Management. Tell them,
my brother are doing good Man, good I am. I'm
kind of dealing with some rumors. It's not very often
My wife comes to me and says, please ask Zach
to tell me if this is true or not. Are
billionaires buying up all of our physical silver and taking
it away so we can't have access to that? Is
that going on?
Speaker 3: No?
Speaker 4: Are are people accumulating metals? Yes?
Speaker 1: Okay?
Speaker 4: Is it a situation where they're accumulating them, taking them all. No,
and that's not what's driving the price. So let me
explain to you what's going on with silver. So, first
of all, what we see going on right now is
very typical in a metals bowl market. Usually the very
almost always the very first metal that appreciates is gold,
and then silver typically plays a catch up game, and
usually you're going to get your biggest overall returns in silver.
Now is it a good time to buy silver? I
don't know. We were accumulating silver mining stocks when it
was between you know, twenty and thirty bucks. I obviously
preferred it there. But what is driving the price in
silver is real and the biggest driver of the price
in silver, it's a supply and demand story. So one
of the biggest silver is a phenomenal conductor of energy. Okay,
So one of the biggest uses and increased demand on
it is the proliferation of solar. Now, solar is still
a good ways away from being ready for main you know,
mainstream or like base power loads things like that. Yeah,
but increased battery technology, specifically coming out of China, is
making solar quickly a much more feasible source, right and
my thing from the very beginning has been that's how
we should do it. We don't have anything against solar.
What we have is when it's being pushed down our throats,
when it's completely uneconomic, you know, uneconomically viable, right, what
we should do is sit there and keep working on it,
and when it becomes viable and for the big time,
then we can move it. We're getting to that place.
So silver is a massive component in solar solar panels, right,
And as battery technology gets better, you will see increased
solar panel usage and and I and I think it's
a great thing. I think it's going to allow more
people to be off the grid, you know, and store
that energy, and it's good development. Here's the other flip side,
and this is something that we've been talking about for
the better part of the last twelve years. Had you
had a metal bowl market from the late nineties up
until twenty eleven, right when gold hit its previous all
time I that was sixteen years ago. Gold fell out
of favor big tech, right, the story of the last
fifteen years came came online big cap top us tech,
and what you saw was one of the longest bear
markets for gold and history, and what you saw over
that that whole period of time was net negative, new
minds being opened. So let's think about what's happened to
the growth of the Chinese economy. Let's think of what's
happened to the population growth over the last fifteen years,
GDP growth, all of these things, and now soul are
becoming viable. So you were effectively shrinking the supply of
silver while you were bringing online this whole new demand
for it, right, And that's where you're seeing the volatility
and price because you just don't have a supply response
that's ready to meet this increased demand. So now if
we are talking about I still think that there are
tremendous opportunities left in silver miners. I think the silver
metal itself is much less attractive here. The other thing
we want to keep in mind is if we're looking
for the best hedge against inflation, that is always going
to be over the long run.
Speaker 3: Gold.
Speaker 4: Why because gold is what central banks buy, and the
reason they buy it is scale. Think of the size
of the building. If my goal is to hold a
trillion dollars worth of gold, think of how much smaller
of an area I can hold that in versus silver, right,
It just it makes more It just makes a lot
more sense. And you know it is gold has always
been considered the supreme monetary metal. So now are people
hoarding silver and is that also increasing price dynamics? Yes,
Like I said, what that's not not happening. All of
these things are contributing to the price going up. But
it's not a conspiracy. Nobody's looking to you know, corner
the market on it. This isn't a rerun of the
Hunt Brothers in the early early eighties. This is an
issue that you could see coming for fifteen years. When
you go fifteen years of economic expansion and economic growth
and you have negative net new mine openings in any metal,
it's going to cause an issue. And one of the
biggest issues it's going to cause is unlike oil, if
we have an oil short the industry has shown many
times it can respond in force within six months. That's
not the way the mining industry works. When you identify
a new ore body in the ground, conservatively speaking, you're
ten to twelve years out before you start extracting any metal.
So now does that mean that silver prices are going
to star for tenure? No, what you're gonna see is
you're gonna see more recycling. And there's a certain point
where the cost of silver will get to where it's
to a level to where it makes switching to other
alloys and other mixes of different metals, you know, viable.
Where is that level, We don't really know. We don't
know yet. I think silver's days of below fifty bucks
are probably over for at least a very long period
of time. Because remember, what you've got to do now
is you've got to hold and maintain a price level
level on silver, and you've got to hold that level
for long enough for it to inspire people to invest
in opening new silver mines. Right, So, for people are
worried about silver price collapsing back to thirty, if it does,
you will have a massive demand problem once again. Right,
So those dynamics aren't gonna shift. We got to figure
out where that right price of silver is. My belief
is it's probably somewhere between current levels and fifty bucks.
But when you understand the supplying demand dynamics in that market,
you cannot discount the ability for silver to go considerably
higher from here. But like I said, I would play
it via the silver miners, not the metal itself right now.
Speaker 1: Kah, Yeah, well said. And I want to ask you
a question and have you think about it, because there's
a glib answer you could give, and you could say
just because we're that good, and you could do that
because you are. But I want you to think about
why you buy silver mines and those operations and for
whatever reason the bigs don't, which is your advantage. You
are stewarding our retirement funds. Other people should have you
stewart theirs. But I want you to think about why,
and we'll answer that in just a just a quick
question moment. Did you know it's Did it occur to
you that it's a centennial and fifty year Anniversity of America?
It's a birthday?
Speaker 4: Yeah, twenty six.
Speaker 1: Yeah, so Tim Crukshank has put together a bag of
coffee for this exact instance. Is two hundred and fifty
year Anniversity the United States of America. And if you
don't know Tim yet, because you're new to the program,
you've joined us from afar, you've discovered us on YouTube.
Thank you for coming over. Tim is a retired Navy seal.
He did three deployments on our behalf, including fighting wars
in the Middle East.
Speaker 4: On behalf.
Speaker 1: He was a medica attached to the seal teams. He
fought battles in Babylon, and yes, it occurred to him,
My gosh, this is Babylon. Tim is a Christian man,
unbelievable love for a country, obviously because he went to
war for us. So this is called the spirit of
seventy six. And as Paul Revere on the front to
off by sea, of course, this is God country team
on it. Tim didn't go with a fancy brew. He
didn't talk about a nutty aftertaste or chocolate undertones. Toss
all that this is a man's coffee that women might
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is Bonefrog Coffee dot com slash todd. Use promo code
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off subscription coffee. Bonefrog Cooffee dot Com slash tod so
the bigs, Zach, and by that I mean, of course,
not that you guys haven't. God has blessed you. That
you told the other day you're nearly a billion under management,
which is incredible. God just has blessed you so much.
But why do the bigs not say, hey, let's go
upstream from the product silver and go buy the people
who are going to dig in the ground and get it.
Because you just said that silver may not you know,
may not go through this roof thing anymore. Is it
going to continue to go up? But the demands there,
and they're the ones who dig get out. Why don't
they get that?
Speaker 4: So it's a great question. Okay, First and foremost people
need to understand that in the financial industry there's a
there's a saying, and it's been applied to other industries,
but it's especially true in this one that it's better
to fail conventionally than it is to succeed unconventionally. And
and it's we're always playing a game of relative performance, right,
And so if you the biggest the biggest risk to
a UM assets under management in this business is underperforming
your benchmark for an extended period of time, Okay, But
Here's the thing that nobody tells you. You have to
be willing to underperform your benchmark for a period of time.
If you want to outperform over the long run, you
have to and but it but it we live so
short term view. It was like, look, man, it was
like in twenty twenty four, market was up twenty three percent.
We were investing in stuff like this, international value gold, silver,
things like that. It started to move then, but it
didn't go up as much as the market. The market
was up twenty three percent twenty twenty four, right, and
we were up sixteen. We had several clients leave, not
a lot, but several. Oh, you had have performed by
too much. Well, Flip around to the next year, market's
up sixteen, We're up thirty seven, right, right. Flip around
to this year markets down a half a percent, were
up nine right. So But my point is one of
the reasons we've had these this run is because we
were willing to underperform in twenty twenty four. Why do
we feel this secure, Why do we feel the ability
to do that. We lost a few clients, but we
think that our clients buy and large are people that
see the world similarly to the way that we do.
They're patient and more wise, I think than most retail
investors because they've come from places like this, Right, they've
come from you know what I mean, Like we think similarly, right,
So they're not sweating me the fact that our gold
stuff didn't bounce as much as the market did in
twenty twenty four. And then the other part of it
is based on just size. So we manage right around
a billion dollars. And every time I say that out loud,
I get I blush and then also feel simultaneously just
incredibly grateful. Like somebody was like, you know, that was
probably a big goal for you guys, and I was like, no, man, no,
paying the bills was the goal, right, you didn't even
you didn't even. Yeah, God's God had bigger dreams than
I did. So it's one of those it's kind of
crazy to hear. But bottom line is that's a lot
of money, but it's not as much as a lot
of these big funds, right, not anywhere close. And so
what that allows us to do is it allows us
to be much more nimble go into things. And here's
the deal. Like, if you're swinging a twenty billion dollar
mutual fund portfolio, and you want to pick up a
five percent position in a minor, you probably can't do
it because for most miners, a five percent position probably
made up fifty sixty, maybe even eighty percent of the
total value of the company. Right, so you can get in,
but how are you gonna get out? Right? It might
take you a month and a half to unload those shares.
And so a US being smaller is an advantage. But
then also you know, just the the ability to think
outside the box and just say, look, guys, no trend
continues forever. We believe the value and the fundamental value
is over here. And if that means that we have
to underperform for a year or two, then so be it.
My job is to put my clients in the position
where they get the best risk versus reward. And you know,
when when we're in there buying gold and silver miners,
that's you know, fifty percent of their net asset value.
I can't tell you when that's going to pay off,
but it's going to and you know, and you know,
that's what we were saying a year and a half ago.
And if you had asked me if I thought that
our mining stocks would be up as much as they
are now. No, I also didn't think gold would be
at forty seven hundred. But one of the things you
realize about it's like life, right, investings like life. If
you do the right things in a discipline, consistent manner,
these things happen right a lot of times it ends
up being better than you can imagine. Why did we
identify it because we weren't looking at relative performance. We
were looking everywhere to find the best financial setup for
our clients, regardless of what the talking heads on CNBC say,
regardless of how much hype AI is. And as a
matter of fact, when you hear these hype stories, when
everybody's pumping the same narrative, what you know instantly is
that the best investments are somewhere else.
Speaker 1: And this is what's so endemic to corporate America. You said,
it's I think your axiom is it's better to fail
convention then succeed in a novel thing.
Speaker 2: Right.
Speaker 1: Yep, it's a paraphrase. So if you were to look
at this from a lifestyle perspective, let's just look at
this from a lifestyle perspective. You can be in traffic
flow and You can be the guy who looks up
ahead and goes, oh, it's some uh see some emergency
lights up there. Oh, there's an ambulance and a police car,
and you're the guy going okay, bailing out, And you
can be driving with someone who's a go with the
flow person. What are you doing? I'm getting off of Madison,
Well we're going to the U District. Yeah, I'm not
through here because I'm not going to go to the
Ship Canal Bridge because I see this. Well wait, which
but yeah, I'm going to go back. We're going to
go over Madison Hill, will go back in and well
what are you doing? Well everyone else you know, and
it's the traffic flow thing. They're going to stay with that,
and they will be the people on the Ship Canal
Bridge for the next two hours on their cell phone. Sorry, late,
can we do a zoom meeting because they're going to
go with this flow because everybody does this, So you
have and you literally have people who are responsible for
the retirement of human beings who want to be able
to say to them, well, yeah, I mean we failed
that everyone else did. That's literally it. But because everyone
else is doing it, that's literally.
Speaker 4: Exact oh yeah, well yeah you're down. Look you're down
fifty five percent, but the market's down sixty three so
you should be thanking us, right, yeah, and not everybody
of course. But but and this is the part where
you know the old adage, people go, hey, it's business,
it's not personal. It is personal. It's really personal. It's
personal for us. Yeah, yeah, it's really per So but
this is the thing and they if you're looking and
this is where that conflict of interest comes in, if
you're looking at those financial advisors, with those money managers,
when it comes to their own business, they're making the
best decision for their own business because over the longer run,
meaning the biggest risk to their business is underperforming the benchmark.
That's why they lose money if the market's down. They've
done these studies over and over. You do not lose
clients for big market drops if you go if your
clients lose too. Where you lose clients is if the
market goes up and they don't. Okay, that's the number
one reason guys leaving clients. But they're making the decision.
The reason they hug the index, And what I mean
by that is they have a portfolio that actually tracks
the index or is very similar to the index, is
because they want to do what's best for their business.
So what happens when you're a professional investor and you
sit there and go, I know I'm taking a business risk.
But US equities have never been more expensive than they
currently are versus gold, versus international equities, versus all these
other things. So I know I'm taking a business risk.
But as a fiduciary of my client's money, should I
keep them concentrated in an asset class that has never
been worth more relative to its peers, or should I
do what I know is right for them over the
long run and start diversifying them into these other beat
down asset classes. Well, I think the answers. I think
the answer is, you know, pretty obvious, but you got
to be willing to do it, and most guys are.
It's just it's just the way the financial industry works.
The portfolios are managed the way they're managed not for
you to get the best outcome. It's for the for
the company to make the most money. I just you know,
it's business, Okay.
Speaker 1: Business is business. God is God's we got to talk
about Davos World Economic Forum Gavin Newsom took sort of
a rhetorical being from Scott percent and then though I
got to get to this this energy thing, and this
was the boss man Larry Fink of the World Economic Forum,
but black Rock, because he's now helping to run the WF,
he made sort of a mission about power. We need
to talk about that. But I do want to pick
up on what you said about businesses, business and then
that think God is God with a question about where
you've seen people really steward their money really well with
the gifts God's given him to help others to build
the kingdom where people have not done that, and all
share some with you. In just a second, we'll continue
to talk with Zach Abraham, Chief investment Officer, Bolder Compromising.
Let me just tell you, guys, when I talk about
things on the show, it's because they do things like
I'm negotiating with a solar company to put solar in
our house. If this works, we will bring them on
as an advertiser, but only if it works in our house,
and only if I can tell you that we're energy independent,
then we'll do that. Likewise, we have a conversation going
with a medical sauna company. Did their promises hold true?
Because I'm not going to go put my body into
a medical saun if it's not good for me. And
I'm not going to tell you you can reach energy
independence with a new solar company unless I can. And
let me just give you this sex. This is between
my wife and I. She wrote to me and said, hey,
I know you're busy, it might be worth reaching out
to our friend. She's looking at doing a stem cell
treatment in America, but she needs to understan and you
know the difference in Mexico and why that's better? Would
you call her? So my wife sent me a friend's number.
I said, are you okay if I call her after work?
And so I'm gonna pick up this phone and I'm
going to call a friend we do things with, and
I'm going to talk with her about the renewed process
versus America's process. This is someone I'm gonna have to
look in the eye on Christmas, on New Year's Thanksgiving
dinners out, I talk with her husband. They're friends, they've
been friends for a long time. Both of them listen
to the podcast. They also listen to My American Family
radio program. So not only are they aware of the
show and renew that's why they're reaching out. But that
I will look her in the eye and say, don't
give in to the junk process in America. It is
far better in Mexico. I'm doing that not to get paid.
In fact, I don't even want the commission we would get.
That's not the animating force. I want it. I'm not
gonna lie, but that's not the animating forces to tell
truth to a friend. So look, if you are being
told you have to have surgery, you may not have
to have surgery. If you're being told that the ED
problem you have is got to have a pump installed
or take pills, that may not be the case. It's
probably not the case, mail pattern, baldness, traumatic brain injury.
How can stem cell solve all these things? Because they're
rebuilding cells and in Mexico it is far better a
process here there than we can do here. Because of farmer.
Go to renew dot Healthcare. It's r E n U
E dot Healthcare telling me you're part of the Todd
Hermanshaw family. And I'll do this talk later with our
friend Renew r E n U E dot Healthcare. So
Zach Abraham chief investment officer for Bulwet Capital Managements. You
have talked about God's grace in your life. You've talked
about a time when you didn't have a billion dollars
in their management, and you do everything you can to
steward funds for people and also though, make sure that
you're building the kingdom. And there's some examples I've seen
recently of men I want to be able to do this.
This was a very cool thing that there's a guy
at church. He's made a good, fair bit of money.
Hard working dude used to be a drug dealer way
back in the day when yeah, when he was twenty four,
he bought directly from the cartels.
Speaker 4: Oh jeez.
Speaker 3: Yeah.
Speaker 1: So because he's not a stupid man, he was this
young guy dealing drugs. He's nineteen, going, wait, why am
I buying my drugs from another nineteen year old? So
he finds out who that supplier is and then finds
out who's the pliers. So here he is twenty four
dealing with big time cartel dudes and he's getting the
product pretty much from the source. And you know, when
he left that life and came out to gave you know,
and went back to Jesus and left all that. He
had to move out of States because the cartels aren't
big fans of you quitting the business. He's overhearing a
conversation with pastors, and the pastors are talking about, you know,
if we just had a building to do that. They
wanted to start a mental health facuilding and a place
where you know, young guys could go get their lives together.
They just didn't have the room. He overhears this. He
walks over the table and goes, hey, you know, I'm sorry.
I didn't mean to overhear. I just couldn't help it.
How much money we're talking about here? Oh, I don't know.
The place we're looking at is probably you know, a
million dollars. I'll buy it. Let me just donate it.
That's awesome, and let you guys use it. I just
need to our structure. And they're looking at him, mouth opening.
He goes like, do you do you have the place selected?
Speaker 4: Yeah?
Speaker 1: Well, let me just give you the check.
Speaker 4: That's awesome.
Speaker 1: And so what the consequence or the result is going
to be is this place will be part mental health prevention,
helping people in who are at risk. It's a non
pharma approach. It's very much grounded in Christ. And they
own the property now now they're just going through the
process of hiring the people. And they were afraid to
go back to my friends and say, hey, could you
help us with some employment monies. So you talk about
stewarding money, well, you'll have young men who could have
been headed for jail or prison instead, maybe headed in
the middstry. Whatever the miness she's going to be, but
she knows, Zach, they're going to know this came because
a guy gave his life to Christ. Because I guarantee
my buddy is going to be able to go there
and witness and give his testimony. That's a great example.
What a thing to be able to do to stroke
a check like that.
Speaker 4: Yeah, and and I think it. I think it. I've
seen it work both ways with with with believers. Yeah,
where they stay on track and they have stories like that.
I think the biggest from from personal experience and then
being able to watch it and see it in so
many different different folks. I think the I think the
key is is to not get wighed down like one
of the one of the temptations. They're one of the
pitfalls for when you have big financial success is to
acquire different things that you can that you you couldn't before, right,
And one of the problems with that that nobody ever
thinks of and nobody ever sees coming, is that you
go from a place of use, like you go from
a place of total financial freedom to not And and
even though you've bought all these things, your balance sheet
might look better, or your balance sheet might still look great,
and you might have plenty of liquid cash, but all
of those other things you own take some level of care,
take some level of planning, take some level of thought.
And what you end up seeing is that people inadvertently
begin to almost like serve their own assets and lose
track of what they were really given those blessings for.
And it's not a it's not a nasty intent, it's
not greed. It's oh, I've got these other things that
I need to look after. Yeah, you do need to
look after them. That's one of the reasons, though, why
I think we were asked to live, you know, somewhat
meagerly or and honestly. And we all have to define
what that is in our own mind. But it's that freedom.
It's it's that financial freedom to be able to meet
a need when you see it. And if you're way
down with all these other different things, you've got to
make business decisions, right. You're like, hey, I got to
make the payment on the yacht, or I got to
pay for the yacht slip you know what, will donate
to that charity, but we will have to do it
sixty days from now, like and you might. Still. My
whole thing is keep you know, keep they talk about
this in sports all the time. But keep the main thing,
the main thing, right, meaning organize your financial life. Prioritize it.
Speaker 2: Right?
Speaker 4: What is your priority? And if you've been blessed enough
to be given financial freedom, I think it's incumbent on
you that your your utmost financial priority should be to
give to the kingdom Like that if right, because the
only reason God has trusted you with more than others
is because he trusts you to give it away and
not everything. I'm not saying that, but but prioritize it.
And that to me is what I think happens a
lot of time, and I've seen it can creep up
in my own life where you're like, no, no, no, hold
on a second, I can't make that move because that
move jeopardizes my ability to fill a need when I
see it. And you know, just keeping the main thing,
the main thing. It's all about prioritization.
Speaker 1: I heard someone the other day to riding. There was
a pastor who spoke at a church, a guest pastor
who said, if you're giving, isn't sometimes hard, Like if
you're not sometimes tempted to back off because you might
be in a season, or let's say money's tight and
you're tempted to say, you know, what we should reduce
are what we give the church. And if you're not
tempted that way, sometimes then you're not giving enough. And
you know that promises that the Lord may test him right,
this is the there is a you can test the
Lord on this. He wants to be tested with financial faith.
Do you think that people who have earned much, or
you could say, been given much, do you think that
their donations to the kingdom to build God's kingdom? Do
you think it should be prayerful and sometimes hard to
write a check like that? Like my friend when he
wrote that check, I never did say did that hurt?
That's a lot of money. It didn't appear to hurt
the way he told the story, and I don't know
what the conversation was with his wife when he got home.
You did what?
Speaker 4: You sorry?
Speaker 1: You did what?
Speaker 4: Yeah?
Speaker 1: Do you think that that's true, that that someone who
has earned a lot, that it should be hard, that
you should be writing checks that are hard to write?
Speaker 4: Yes? And no, because I think if again getting back
to priority, if that's if you keep the priorities in
correct order, writing the like I think back to some
of the biggest Well, you and I have talked about this,
and I am painfully human, so I am by far.
If you're looking for the perfect Christian, you're looking in
the wrong place. But the funnest thing, the best thing
that we get to do with our money is give
it away. And so the bigger the checks you write,
it doesn't it doesn't hurt it.
Speaker 1: But do you think you should get to a point
where you're going to write a check where you and
your wife have to sit down and go, oh my gosh,
can we afford this?
Speaker 4: Oh? Yeah, I mean I think that's how you should
be giving all the time. I just like you know I.
You and I have talked about this. There's that song
reckless Love. Corey Aspury right, reckless or you know, the
reckless love of God? Do we do we love back recklessly?
Do we? Or do we sit down and break out
the advocates and the graphing calculator and go, well, there's
our nine point nine nine, putting extra five cents on there.
We've done our bit for Godden country. That's not kind
of giving. He wants, right, God wants to sit there and go, hey,
I gave you the table, the house, that the table
is in, the wood floors, it sits on the plates,
the food. Who are you to sit there and tell
me that's the part of your plate that I get.
It's my plate right and to live open handed? And
if you're not, if you're not giving to a level
where other people would look at that and go, that's
not financially responsible, you're in my Look, everybody's got to
make their own decisions. But what I am saying is,
like you said, test God, it's if it doesn't require faith,
then it doesn't build faith, right, Like you should be
giving to a level where you're like, I can't tell
you how many times we've done that, where we're hey,
what about what about this? You know what I don't
know how we're going to pay for that. But what
I know is that that need that put in front
of us, we're going to fulfill that. And if we
don't do that, that's where I get concerned, right, Like
just it's thinking inversely, just saying who do I trust? Right?
And so if I trust him, if I give my
meal to the little boy across the street, do you
think my parents were gonna let me go without dinner?
Speaker 1: No, no, not a chance. And Zach, you know at
Bulwark in New York's podcast, people go, they side up,
they get your newsletters, they read this stuff. They have
these meetings with you, but they don't always get to
look you in the eye. And when you talk about giving,
you know people are watching this. I can see your
face light up that you get to do this. So
let me present this to you. Do you think that
we are in a situation in America, in Christian society
where people don't know what it is to take that
step of faith that you have to jump off a clop.
Let me give you an example. We can give money.
You can give money. You guys have been blessed. God
is blessed. You've done a great jobs durning money I'm
able to tie the church. We can go through weird
financial seasons, all of us. The end of day, a
young man was telling me he's a guy I've grown
to love. I consider him friends. Years ago i'd been
his mentor at summer camp. Wishes how I got to
know him. Incredibly mature Christian for his young age. He's
I think twenty two. He's going on a mission to
northern Mexico, a border town, A border town that I
happen to know has had tons of cartel violence. I
happen to know that near there there have been mayors
who've been killed and hung from bridges, their bodies hung
from bridges. I happen to know these things are going on.
And he's telling me this. He wants us to my
wife and I to pray about helping to fund part
of this mission. And Zach I was this close to saying, Hey,
are you open to any feedback about going there? Instead,
I says, who's taking you? And he said, oh, well,
a bunch of the pastors here. They've got a place there.
We partner with the church. This is an ever year thing.
I'm still this close to going to the leadership going hey,
are you nuts, what are you doing taking our guid
And then I think, do they not know this? Now
they're acting and they know it. This is not financial,
it's time. But this is an active faith that God
says you're indestructible until you are indestructible until God says otherwise.
But that's an active faith that you're saying, equating to
financial giving of Oh my gosh, can we even do this?
It requires faith to trust in God that we're going
to be okay? Is that a fair equation in your mind?
Speaker 4: Yeah? And it goes back to and God's been really
patient with us and taught us along the way and
so many But there's something just I'll go. I'll give
you an insight into how we view it. My wife
and I have as saying, which is are we in
the plan? And what we mean by that is that
if we are doing what God wants us to do
and we're where he wants us to be, then that's
really the only concern, right, that's the only concern. The
concerns should not be about things of this world. To
sound a little bit metaphysical here and a little bit
out there, if you will, but remember we were called
to be a little bit out there. We were called
to be people set apart in this world, but not
of it. Right, So what is this world value more
highly than anything? Power and money? What should we treat
with almost a reckless indifference when it comes to giving
power and money? Yeah, right, And by doing that we
set ourselves free. We also set a great example and
help our brothers and sisters and all those other kind
of things. But simultaneously we do ourselves a favor, which
is by doing that, we're not going to live in
financial prison. Right, that's not going.
Speaker 1: To be our god.
Speaker 4: It's we're cutting We're cutting those shackles free every single
time we give, and we're saying that we're not going
to get trapped in the same loop that you've got everybody.
We're not getting on your hamster wheel man, We're not
living that way. And it's it's one of the most
freeing things in the world that you can do. And
it doesn't mean that bad outcomes aren't going to happen.
But how do you know the bad outcome isn't the
car wreck on the way to the great come up?
You don't, right, you have no idea what's around those corners?
So give like you like you can't give enough and
trust in God because we don't know. And I just
I Todd, I've never seen it. I do not believe
in prosperity theology whatsoever. But I have never seen a giver.
I've never seen it happen where they've given themselves broke.
I've never seen it.
Speaker 1: Yeah, yeah, same thing. And we do something on my
American family radio show. You know, at Disciples View, we
work with preborn. Do you know that when women see
when they see their baby in an ultrasounds, it doubles
the chances of the baby living. Yeah, doubles. Four hundred
thousand babies Zach live because of this cause love that
and and one hundred thousand women have come to Christ.
And I've talked to people with preborn and do you
know that one of the common experiences they get is
people look at the women look at the ultrasound and
they'll say something, at wait, he can suck his son.
Speaker 2: Yeah.
Speaker 1: Yeah, guys, you can give to this at eight seven, seven, six, one, six, two, three,
nine six fifteen grand will sponsor it actually purchase an
ultrasound machine UH for an at risk neighborhood. One hundred
and forty Bucks provides free five free ultrasounds, and it's
it's five lives. You have a chance to save. Five
people have a chance to bring to Christ. That's one
of those things, Zach eight seven seven six, one six
two three nine six. That's one of those things, Zach.
Where I I you know, Jesus is in the room, uh,
and you know the Holy spirits there that Yeah, that's
our little baby. Yes he can suck the thumb because
I designed him. That's a sort of giving man like
that that people do. We did this last year and
I had a guy call in and give three forty
five thousand bucks, go buy three three ultrasounds. What a
blessing for that? That that hits you, man, That that
that life stuff hits you, that preboard stuff hits you.
Speaker 4: Yeah, and now get one hundred percent. I mean, anytime
you see you know what, you know, whether it's a newborn,
whether it's a little child, you know what. Wherever you see,
wherever you see people struggling and having a tough time,
you want to you want to step in there and
fill that gap, and especially with those babies, especially with
the mothers too, because I think that one of the
biggest things is is they're told one thing, and then
the reality that they're forced to live after they make
a decision like that is starkly different from what they're told. Yeah,
so they're saving multiple lives when they do that.
Speaker 1: Yep, well said love that you said it that way.
From the sublime and the godly, we shift gears over
to the world economic for him. Okay, it couldn't get
to be a bigger shift. Let's start here with something
that Scott Bessent said as he took this as he
takes a stage, he knows Gavin Newsom's there. Watch Scott
Bissent go and roast Newsom. Well, Newsom's there, Watch.
Speaker 3: This Governor Newsom, who strikes me as Patrick Bateman meets
Sparkle beach Ken, maybe the only Californian who knows less
about economics than Kamala Harris. He's here this week with
his billionaire sugar daddy, Alex Soros, and the Davos is
a perfect place for a man who when everyone else
is on lockdown, when he was having people arrested for
going to church, he was having thousand dollars a night
meals at the French laundry. And I'm sure the California
people won't forget that. And I can tell my message
to Governor Newsom is the trumpetman. Frustration is coming to California.
We are going to crack down on waste, fraud and abuse.
And I was told he was asked to give a
speech on his signature policies. But he's not speaking because
what of his economic policies brought outward migration from California,
a gigantic budget deficit, the largest homeless population in America,
and the poor folks in the Palisades who had their
homes burned down. He is here hobnobbing with the global
elite while his California citizens are still homeless.
Speaker 1: Shame on him.
Speaker 3: He is too smug, too self absorbed, and too economically
illiterate to know anything.
Speaker 1: Um. I would dream this is my flesh, this is
my human pride, Zach. I would dream of an opportunity
to say that to Gavin Newsom to his face. How
thrilled were you?
Speaker 4: Oh man? I bestent is to be like the King
of the one liners out of this administration. So he's
just he's just thrown some heat. And I just love
how he calls them out and and and watching Gavin.
Gavin Newsom is one of First of all, he's like
a walking stereotype, you know what I mean, Like it's
so cliche. Yes, it's funny. Like he's like Central Castings
sent back a slick back haired, greasy, nasty politician. Enter
Gavin Newsom, Like stay, you know, he's like the perfect altar.
Like he should play a if they do a new
Austin Powers, like they should have Gavin Newsom play the
mega villains. Yes, you know what I mean, Yes, And
I love it. It's hilarious. I love how he calls
out Soros, and not just to their face, but it
makes everybody in that in that auditorium squirm because the
Larry Finks of the world, the George Soros of the world,
those people worship at that altar. They worship at that altar.
And so I love the fact we're saying globalism doesn't work. Yeah,
calling out the whole cabal for what it is. And
I love it. I can't get enough of it.
Speaker 1: Yeah, me too. And then there's this moment this is
also from the World Economic Form. Now this is you
talk about central casting, and let's put some context to this.
You remember when the German delegation. Do you remember them
giggling at President Trump when he said, Hey, you're not
going to want to be dependent on energy to Russia.
You're not going to want to get rid of your
nuclear plants.
Speaker 4: Remember that, Yeah, I said it multiple times.
Speaker 3: Yep.
Speaker 1: So the German Chancellor mrs has come out and said
it was a strategic mistake to phase out in nuclear energy.
So they're saying that now water water is wet, very
very wet. The Black Rock CEO Larry Fink, who's also
now the co head of the World Economic Form with Schwab,
he's talking about energy and solar and apparently, Zach, there
might not be all goodness and grace in this. So
the world is going to be short power, short power,
and to power these these data companies who.
Speaker 3: Cannot have just this intermittent power like wind and solar,
you need dispatchable power because you can't turn off and
on these data centers.
Speaker 1: This guy demanded solar. He was ignoring the balance sheets
of companies in favor of them investing in pushing solar
and yeah, solar is going to get there one day.
He has been part of the gang of people that hey,
why don't we look at doing a way with some
dams out west. We don't need all those dams. What
do we need hydro power? And he stands here and
says this, we're going to be short power. Number one,
how does he get to say that and the room
doesn't point and laugh at him? And number two, where
does this put us in terms of investment dollars?
Speaker 3: Now?
Speaker 4: Well, the crazy thing about this and if you have
any faith or or any stock in the global elites
for forecasting these issues, this should do away with that
that misnomer. Yeah, you know, because you guys like us
have been talking about how we're looking at a power
shortage for two years, you know what I mean? Just
I mean, it's obvious. But then then all of a sudden,
it's data centers that right, those numbers are like that.
Regard that data centers just exacerbate the existing issue, and
why are they Like you see the same same dynamics
play out around COVID in the vaccine, right, Like how
over time they begrudgingly, one piece of data at a
time acquiesce and then everybody that was on board with
them kind of Oh yeah, that's that's the right. You're
looking at going three years ago you were saying the
exact opposite. There's no intellectual accountability whatsoever. And that's just
the world we live in today. And I think that
it opens up and I don't want to pivot back
necessarily the investing side, but I think it opens up
unbelievable opportunities.
Speaker 1: But I want you to pivot back to that. Okay,
we're going to be short and energy.
Speaker 4: Now what Yeah, well, why do you think that we
own substantial amounts in that gas, offshore oil, uranium companies
that build reactors. Because this issue isn't going away. And
and you know these big tech companies, the darlings for
Let's see how well they work. Let's see how good
an LLM works when it doesn't have any power. It doesn't, right,
And that's one of the interesting things that faces the
world today because a lot of it is just stupidity
and things that we have inflicted on ourselves. The other
part of it is changing economic directions, right the the
inventedy or the coming of age of AI and data
centers and all these kinds of things. But then you
look back at where capital has been allocated over the
last fifteen years, and it's been allocated everywhere, but the
places that provide that kind of power. The crazy thing
is is that people say this this out checked out
everybody is. Do you want to know the things that
are least represented in the average retail investment portfolio right now?
Speaker 3: Please?
Speaker 4: Natural resources, metals, and energy of any kind.
Speaker 5: But you overpresenting AI, Facebook, Google, Apple, Microsoft, overrepresented all
the entities that need power.
Speaker 1: Yeah, underrepresenting the all the entities that provide.
Speaker 4: Power yep, yep. And if you look at the port now, look,
will they eventually get their portfolios correct? Yes, But it's
just like it was with bonds for years.
Speaker 2: Right.
Speaker 4: Let's go back when I started doing the radio show
in twenty sixteen early twenty seventeen. The thing we were
talking about all that time was the fact that the
average retail portfolio had thirty to forty percent bonds in it. Okay.
At that time, that bond portfolio was yielding two and
a half percent okay, yeah, two and a half to
two point se seven percent inflation, and then after the
expense ratio on the bond fund, you were netting out
one and a half percent a year. Okay, So your
upside was to continue underperforming inflation by one percent a year. Meanwhile,
interest rates were a zero, which means they only had
one direction to go. And what happens to bond right,
what happens to bond valuations when rates go up? Well,
we found out in twenty twenty two. And I used
to say on the radio, Hey, guys, if you're waiting
for your financial advisor to tell you, he'll tell you
to get out of bonds after you're down thirty percent. Now,
I was just throwing that out there. Well, bonds on
average were down thirty percent and twenty twenty two and
what were all the advisors saying, Oh, well, we got
to shift to the new sixty forty, so they'll do
the same thing here. You after gold goes to five
thousand and silver goes to one hundred and fifty, and
these miners have all quadrupled in price, and nat gas
goes back up to seven dollars a unit, that's when
they're going to be like, hey, we got to get
you some exposure to energy.
Speaker 2: Right.
Speaker 4: It's just I'm telling you, it just happens every single time,
and it just drives me nuts.
Speaker 1: Well, thank god, we've got you figuring this stuff out
for us and making it all makes sense. You can
get with Zach at No Your Risk Podcast dot com.
I can't pitch the company because then I have to
give the disclaimer. But what I can tell you is
this guy will spend three conversations with you. First one
to see if you'd like him. This is really who
he is, second one to talk about your goals, and
third one to seifigure it up.
Speaker 2: Me.
Speaker 1: Now I actually have to say this stinking disclaimer. It
is Know Your Risk Podcast dot com over Capital Managements
and Investment Advisor, Representative Truck Financial LLCN SEC Rich Investmentzer,
Investment follow risk are not guaranteed pastformance, isn't guarantee future
results Trek twenty five that's zero six. I even got
the zero six in there. That means twenty six zero five.
I got to do it twenty six zero five because
that's the fifth. Is that pretty good like that?
Speaker 2: Yeah?
Speaker 4: I can't. I don't know it.
Speaker 1: I don't want you to know it. I don't ever
wantch you If you ever know your disclaimer, I'm gonna
be like, eh, brother, can we talk about the portfolios because.
Speaker 4: It's Hey, it's a good thing we have that disclaimer
in there, because that saves people from fraud, isn't it.
Speaker 1: Oh gosh, Because I know people hear that and they're like, man,
I was just about ready to get defrauded, but then
this guy ready a federal government's disclaimer.
Speaker 4: Regulation.
Speaker 1: Man, brother, thank you for the wise counsel. And I
know we've talked about American Family Radio today and I'm
just not gonna say it because people are gonna have
to guess. But Zach and I we might be making
a personal appearance or two. Way back they got east
back there in Tupelo, Mississippi. All right, this is a
Todd Hermer show. Please go, be well, be strong, be kind,
and please make every effort to walk in the lade
of Christ.