1 00:00:00,280 --> 00:00:02,839 Speaker 1: Welcome to another edition of the Chicks on the Right podcast. 2 00:00:03,000 --> 00:00:05,719 Very excited today to have with us doctor Mike Fulgens, 3 00:00:05,719 --> 00:00:09,119 who is the numismatic consultant with First Fidelity Reserve, which is, 4 00:00:09,160 --> 00:00:12,080 by the way, where we get our gold and silver, 5 00:00:12,560 --> 00:00:14,359 and we want to pick your brain a little bit 6 00:00:14,400 --> 00:00:17,879 about the state of precious metals right now, starting with gold, 7 00:00:18,320 --> 00:00:22,679 which topped three grand an ounce for the first time 8 00:00:22,800 --> 00:00:26,359 ever and it's on track to keep right on growing. 9 00:00:26,359 --> 00:00:29,839 And even when everybody else was like all super skeptical, 10 00:00:29,960 --> 00:00:33,439 you were predicting that it would grow and you were right. 11 00:00:33,719 --> 00:00:36,479 So how much higher is it going to go? 12 00:00:37,119 --> 00:00:37,320 Speaker 2: Well? 13 00:00:37,359 --> 00:00:40,439 Speaker 3: I got a chance to interview Steve Forbes in Nashville 14 00:00:40,880 --> 00:00:43,320 in October of twenty twenty three, and we both agreed 15 00:00:43,359 --> 00:00:46,280 about where the dollar was with central banks were buying more, 16 00:00:46,640 --> 00:00:48,640 and we thought gold would hit twenty five hundred and 17 00:00:48,679 --> 00:00:51,479 twenty four and it did, and we think it'll hit 18 00:00:51,520 --> 00:00:53,840 thirty five hundred this year. And Bank of America and 19 00:00:53,880 --> 00:00:56,799 City Bank agree with us, and the London bullion market 20 00:00:56,840 --> 00:00:59,000 analysts over twenty of them agree it's going to go 21 00:00:59,079 --> 00:01:03,799 up substantially because increased central bank buying, increase exchange trade 22 00:01:03,799 --> 00:01:07,640 fund buying, and frankly, people are around the world, not 23 00:01:07,680 --> 00:01:10,359 just the United States, are concerned about uncertainty and a 24 00:01:10,359 --> 00:01:13,519 lot of buying for iras investment retirement accounts. I promised 25 00:01:13,519 --> 00:01:14,519 you I wouldn't use acronym. 26 00:01:14,640 --> 00:01:20,400 Speaker 4: Sorry, no worry goodness. Silver is the same way too, right, 27 00:01:20,439 --> 00:01:22,840 because silver is seen again in twenty twenty four they 28 00:01:22,840 --> 00:01:25,200 were it was up what twenty four percent and twenty 29 00:01:25,239 --> 00:01:27,599 twenty four and then ten percent and twenty twenty five, 30 00:01:27,760 --> 00:01:30,879 So do you expect that to continue as well? 31 00:01:30,959 --> 00:01:31,120 Speaker 2: Well? 32 00:01:31,200 --> 00:01:33,519 Speaker 3: Industrial demand has grown over the last four years, has 33 00:01:33,599 --> 00:01:37,000 been shortfall and supply, and I do expect and again 34 00:01:37,200 --> 00:01:39,760 the London bullion market analysts saw about a forty percent 35 00:01:39,840 --> 00:01:43,640 increase coming this year. And many people think silver can 36 00:01:43,680 --> 00:01:47,159 get up over thirty five to forty dollars and we 37 00:01:47,200 --> 00:01:49,879 see gold at thirty five hundreds. So it's a good 38 00:01:49,920 --> 00:01:53,439 place to put apart. I'm with a number of people 39 00:01:53,519 --> 00:01:57,159 you would recognize, and they say twenty percent in gold, 40 00:01:57,319 --> 00:02:00,120 rare coins and precious metals either in your IRA for 41 00:02:00,200 --> 00:02:01,280 your investment portfolio. 42 00:02:01,599 --> 00:02:02,439 Speaker 2: I wouldn't say. 43 00:02:02,280 --> 00:02:05,480 Speaker 3: Put over a quarter in any one thing unless that's 44 00:02:05,560 --> 00:02:08,520 just your area. But twenty twenty five percent in this 45 00:02:08,680 --> 00:02:10,719 area makes sense and it has been good over the 46 00:02:10,719 --> 00:02:11,360 long term. 47 00:02:11,439 --> 00:02:16,639 Speaker 1: Okay, so how do banks like fit into the equation? 48 00:02:16,800 --> 00:02:18,360 What are the trends that you're seeing there? 49 00:02:18,560 --> 00:02:21,240 Speaker 3: Well, central banks around the world of trying to shore 50 00:02:21,360 --> 00:02:23,919 up their currency which is weak, so they put more 51 00:02:23,919 --> 00:02:27,800 gold to the public in China, in India, in all 52 00:02:27,840 --> 00:02:30,280 sorts of countries that they have more trust in their 53 00:02:30,319 --> 00:02:32,680 paper money. You know, the old adage about the US 54 00:02:32,800 --> 00:02:35,120 Bureau of Engraving in printing is they make money the 55 00:02:35,159 --> 00:02:36,840 old fashioned way they print. 56 00:02:36,560 --> 00:02:39,599 Speaker 2: It, you know, so you got to back it with something. 57 00:02:40,360 --> 00:02:42,960 Speaker 4: Yep, yep. There's a lot of talk about the stock market, 58 00:02:42,960 --> 00:02:44,960 which I know you're talking about like twenty five percent 59 00:02:45,120 --> 00:02:47,319 in gold and silver. A lot of people don't do that. 60 00:02:47,439 --> 00:02:48,719 There are a lot of people that are not doing 61 00:02:48,719 --> 00:02:50,840 that right now because you know, people don't know a 62 00:02:50,840 --> 00:02:54,439 lot about it. But give us your thoughts on you know, 63 00:02:54,560 --> 00:02:57,360 gold and silver versus the stock market. What are your 64 00:02:57,360 --> 00:02:58,000 thinkings about. 65 00:02:58,039 --> 00:03:01,360 Speaker 3: Gold has almost tripped the down s and P since 66 00:03:01,360 --> 00:03:04,319 two thousand and it's far out performed at Silver has 67 00:03:04,360 --> 00:03:06,960 been way up more not as much as gold, but 68 00:03:07,120 --> 00:03:08,759 significantly above the down SMP. 69 00:03:09,719 --> 00:03:11,520 Speaker 2: But the key is buying from the right people. 70 00:03:12,560 --> 00:03:14,919 Speaker 3: I wrote the Consumer Protection Guide for the Attorney General 71 00:03:15,039 --> 00:03:17,840 Texas Ken Paxson. I was head of a committee that 72 00:03:17,919 --> 00:03:21,439 helped the FTC in the past on their consumer Protection Guide. 73 00:03:21,599 --> 00:03:24,840 You got to pick someone you're doing business with that 74 00:03:24,919 --> 00:03:28,240 has ability and also has integrity. They've been in business 75 00:03:28,280 --> 00:03:31,280 a long time, they've won awards in their industry. Those 76 00:03:31,280 --> 00:03:34,439 are things to look for, and they send you information 77 00:03:35,199 --> 00:03:37,560 that can really help. Our materials have been voted the 78 00:03:37,599 --> 00:03:40,520 best in the industry multiple times. And we say buy 79 00:03:40,560 --> 00:03:42,879 the book or we give away the books for free, 80 00:03:43,039 --> 00:03:45,000 but buy the guides in the books before you buy 81 00:03:45,039 --> 00:03:47,800 the product. We want you educated, and that's what you 82 00:03:47,919 --> 00:03:49,840 want from anybody buying in this field. 83 00:03:50,439 --> 00:03:52,080 Speaker 4: Yeah, there's a lot of people out there doing it. 84 00:03:52,319 --> 00:03:55,439 Speaker 1: Yeah right, oh yeah, well, and that's one of the 85 00:03:55,439 --> 00:03:58,199 things that we learned from you early on is it's 86 00:03:58,240 --> 00:04:02,360 super super easy to get ski And you've had, like, 87 00:04:02,879 --> 00:04:06,000 you've got horror stories. Would you care to share a 88 00:04:06,000 --> 00:04:08,759 couple of the more scary ones, just to make sure 89 00:04:08,800 --> 00:04:10,919 people know how they can get scammed. 90 00:04:11,039 --> 00:04:14,080 Speaker 3: Well, I had a pastor's wife come in after he passed, 91 00:04:14,400 --> 00:04:16,399 and all the silver coins he had and all the 92 00:04:16,399 --> 00:04:20,240 gold coins were counterfeit. China is shipping lots of counterfeit products, 93 00:04:20,279 --> 00:04:23,439 including coins and money into the United States, and I 94 00:04:23,480 --> 00:04:25,800 did a ring test. I showed him how it was 95 00:04:25,839 --> 00:04:28,240 made out of nickel and zinc. It rang differently with 96 00:04:28,279 --> 00:04:29,160 a pen tapping it. 97 00:04:30,160 --> 00:04:30,639 Speaker 2: Wow. 98 00:04:30,680 --> 00:04:35,839 Speaker 3: On the internet, wish eBay Ali Baba, Facebook their counterfeits 99 00:04:35,920 --> 00:04:38,480 all over there. In fact, I got an anti counterfeiting 100 00:04:39,079 --> 00:04:42,279 bill through with a few my associates through Congress in 101 00:04:42,319 --> 00:04:44,879 twenty twelve, but it just slowed it down a bit. 102 00:04:45,480 --> 00:04:49,000 The Trump administration's been better about it was with Mike 103 00:04:49,040 --> 00:04:51,720 Pompeio a few years ago talking about how much better 104 00:04:51,800 --> 00:04:56,120 they were at limiting fentanyl and counterfeits coming into the country. 105 00:04:56,160 --> 00:04:59,519 It opened up morend under Biden. It hopefully under the 106 00:04:59,560 --> 00:05:02,480 Trumpet demistration it will now keep tightening. 107 00:05:02,879 --> 00:05:04,600 Speaker 2: But you've got to know your dealer. 108 00:05:04,920 --> 00:05:07,879 Speaker 3: And behind me you can see some plaques and it's 109 00:05:07,959 --> 00:05:09,920 kind of like, show me the carfax, show me the 110 00:05:09,959 --> 00:05:10,639 coin plaques. 111 00:05:11,000 --> 00:05:12,879 Speaker 2: Have they got awards in the field? 112 00:05:13,279 --> 00:05:13,720 Speaker 3: Yeah? 113 00:05:13,759 --> 00:05:15,920 Speaker 1: Well, And that's that's been the hardest thing is because 114 00:05:15,920 --> 00:05:20,319 there's we see commercials constantly for various different gold companies, 115 00:05:20,360 --> 00:05:24,319 and I'm sure it's overwhelming to novices out there, which 116 00:05:24,680 --> 00:05:28,319 we would consider ourselves that like, how how do how 117 00:05:28,360 --> 00:05:32,279 do people recognize when they're being scammed? I mean is 118 00:05:32,319 --> 00:05:34,920 the answer then to like say, how many awards do 119 00:05:34,959 --> 00:05:36,639 you have? You know what I mean? Like, what's the 120 00:05:36,639 --> 00:05:39,439 telltale sign that they should be looking for to make 121 00:05:39,480 --> 00:05:40,519 sure that they stay safe? 122 00:05:40,800 --> 00:05:41,079 Speaker 2: Well? 123 00:05:41,439 --> 00:05:43,720 Speaker 3: You know, first of all, you know I and when 124 00:05:43,759 --> 00:05:46,399 I wrote the guide for Ken Paxton, our attorney general. 125 00:05:46,800 --> 00:05:48,839 Are they a member of leading organizations? 126 00:05:48,920 --> 00:05:49,120 Speaker 2: Now? 127 00:05:49,240 --> 00:05:51,199 Speaker 3: The trouble is some organizations all you need is a 128 00:05:51,240 --> 00:05:54,920 heart beating a check. Are they are they? Have they 129 00:05:55,160 --> 00:05:59,199 served on boards of those industries? Have they been published? 130 00:05:59,480 --> 00:06:03,120 I mean, I'm published in price guides and besides my 131 00:06:03,199 --> 00:06:05,800 own books I've written. Make them show you where they 132 00:06:05,879 --> 00:06:09,439 have peer respect? Where's the peer respect? And by the way, 133 00:06:09,600 --> 00:06:12,959 I like some BBB's Better Business Bureau is excellent. There 134 00:06:13,000 --> 00:06:17,040 I go with acronyms, but I like better business acronym. 135 00:06:17,160 --> 00:06:18,759 Speaker 1: You're okay, we know that. 136 00:06:18,720 --> 00:06:20,839 Speaker 3: Yeah, are Better Business Bureau is wonderful. Some of them 137 00:06:20,839 --> 00:06:23,279 aren't quite as good. But there are other rating systems 138 00:06:23,439 --> 00:06:26,399 that it's pay for play. You cannot trust five stars 139 00:06:26,600 --> 00:06:29,199 from some rating systems out there. You want to know 140 00:06:29,639 --> 00:06:32,959 are they a member of leading coin organizations? Are they 141 00:06:33,000 --> 00:06:35,920 have They all won awards from leading coin organizations and 142 00:06:36,000 --> 00:06:37,600 they served on boards of. 143 00:06:37,600 --> 00:06:38,920 Speaker 2: Leading coin organizations. 144 00:06:39,079 --> 00:06:41,000 Speaker 3: In fact, I have a checklist on that very thing 145 00:06:41,240 --> 00:06:43,879 that you can check us against other dealers. Here are 146 00:06:43,920 --> 00:06:47,560 things to see, uh, to pick a dealer. And it's 147 00:06:47,600 --> 00:06:50,439 like any test. You after you take the test, it's 148 00:06:50,439 --> 00:06:53,600 too late to ask a question, ask the questions and 149 00:06:53,800 --> 00:06:55,120 prepare before you buy. 150 00:06:55,279 --> 00:06:57,279 Speaker 4: Yeah, And it's frightening because there's probably a lot of 151 00:06:57,279 --> 00:06:57,920 people out there. 152 00:06:57,959 --> 00:07:00,560 Speaker 2: We say, there's no Santa Claus in numerous matics. 153 00:07:01,000 --> 00:07:04,240 Speaker 3: You get what you pay for, and you want someone, 154 00:07:04,360 --> 00:07:08,360 like I said, who's ethical and experience and experience, Well. 155 00:07:08,199 --> 00:07:10,600 Speaker 4: How can you know where can our audience get more 156 00:07:10,639 --> 00:07:13,519 information about gold and silver about you? Because that's the 157 00:07:13,560 --> 00:07:18,240 thing I think a well educated customer is a good customer, right. 158 00:07:18,279 --> 00:07:20,079 You want people to be educated? Boyut this stuff, because 159 00:07:20,079 --> 00:07:22,279 I know that's we want it to be. Before you 160 00:07:22,319 --> 00:07:24,160 get gold and silver. You want to know you're getting 161 00:07:24,199 --> 00:07:24,959 gold and silver. 162 00:07:26,360 --> 00:07:30,040 Speaker 3: They can go to First Fidelity Reserve's website and they 163 00:07:30,079 --> 00:07:32,839 got the phone number on there. They've got information to 164 00:07:33,000 --> 00:07:36,279 order on there, and go to the website at First 165 00:07:36,279 --> 00:07:38,560 Fidelity Reserve. They can google it and just go there 166 00:07:38,920 --> 00:07:42,079 and either call them they've got representatives standing by, or 167 00:07:42,240 --> 00:07:45,920 they can well order stuff straight off the website. And 168 00:07:45,959 --> 00:07:49,759 there's return privileges, there's there's all sorts of good information 169 00:07:50,480 --> 00:07:53,079 to that can help them perfect. 170 00:07:53,279 --> 00:07:55,560 Speaker 1: Thank you so much for your time. We really appreciate it, 171 00:07:55,560 --> 00:07:56,759 and I know our audience will too. 172 00:07:57,160 --> 00:07:58,839 Speaker 3: I'm honored to be on your show. You'll have done 173 00:07:58,839 --> 00:08:01,560 so well and are you. And one other thing I'd 174 00:08:01,600 --> 00:08:03,319 say is you can put gold in metals in your 175 00:08:03,399 --> 00:08:06,720 investment retirement accounts. Consider that because that's part of your 176 00:08:06,720 --> 00:08:09,199 investments too, and you should balance it out with some 177 00:08:09,240 --> 00:08:12,959 gold for that. Like Bank of America says gold is 178 00:08:13,000 --> 00:08:15,560 a safety hedge and they recommend by it. 179 00:08:15,800 --> 00:08:19,360 Speaker 4: So thanks again, absolutely, thank you, thank you so much