hi this is mike maloney with jeff clark and another frequently asked question jeff what have you got hi mike uh this is an interesting one and more than one person is asked about this so i thought i would throw it out to you uh and it came to my attention because this recent article from uh this was on bloomberg uh basically saying that goldman sachs is reporting that the financial conditions in the us are the easiest on record meaning it's the easiest time to borrow money and the most optimal time to to borrow


currency uh oh dan's gonna ding me there but to borrow currency um at these low rates so mike the question becomes uh for some people is there a scenario under which you would actually take out a loan to buy gold and silver because rates are so low and gold and silver have so high to go so what do you think about that scenario of actually taking out a loan to buy uh gold and silver well it's funny that you should mention that because i'm in the process of doing that right now um i'm buying a farm


and uh the farm you know that i'm going to um i've accumulated almost everything in my life without accumulating any debt uh and in my book i wrote and this was back in 2005 six or seven that i wrote that gold and silver uh will perform outperform the other financial assets but one of the scenarios that you can use is is if you go into debt at just the right time and that's before big inflation or hyperinflation going into debt can be a very good thing if you do that however uh to me uh you


i'm not taking on uh any debt that i couldn't afford to pay off like that by liquidating some other assets i don't want the debt i don't want to be owned by a bank um and a lot of people rent their lives from the bank i don't rent my life i only um so i am going to that this farm needs a lot of work i'm going to finance it so that i have capital to be able to put into the farming so on uh but uh there will be a significant amount uh left over uh from the financing that i'll be able to pull out and turn


into uh precious metals um and so uh you know because i've i've basically been able to accumulate the cash to buy this farm it's just that i don't want to use it all on the farm i want to use a bunch of it for the work that we're doing on the farm to make it habitable because right now it's not and uh and then uh the balance goes into buying gold and silver and so i am actually going to do uh what you've just said uh the the financial uh conditions being the easiest in history i don't believe that it's


still not a breeze to take out a loan you know i have a very very high credit score and i've got a lot of assets that i've accumulated and currently uh you know no debt and so but still that banks put you make you drew jump through hoop after hoop after hoop uh to get a loan uh it's it's not a very it's not a simple process unless you're somebody uh like uh you know a robert kiyosaki or somebody that's got a lot of properties that is dealing with the bank every day in the bank really


knows him but i still believe that your assets should exceed your liabilities uh that it's it's important to make sure a lot of people you know there was a book that uh alex the president of goldsilver.com uh had me read um uh freedom and i can't remember the other one but it's it's uh sort of uh written as a it's almost like a video game but it's the future in america and uh there's these glasses that somebody can wear and they can pull up information about anybody that they're looking at like


you're in a video game and he pulled up financial information and above everybody's head there's you know either red or green numbers and most people are walking around with a negative net worth uh and that is the way society is today these can become the future debt slaves of tomorrow so i if you if you already have a negative net worth i wouldn't recommend uh taking out a loan to buy gold and silver unless you're so confident that the payoff is going to be so big that it'll uh


turn that net worth positive then you may want to take that chance but i make no recommendations i never make any recommendations on anything anyway what i do is i tell people what i'm doing and what i'm doing right now is uh for the i am now uh taking out a loan and part of it is going to fix up the ranch the other part is going to uh it's going to be plowed into gold and especially silver at these gold silver ratios so that's that's my plan it's my story and i'm sticking with it


there you go all right and we want to be careful we're not making any advice here of course uh and taking out a loan for any purpose is is risky so you have to be careful even with rates really low right now so you're a billionaire if you're locked in on a long-term loan on a rate it's not variable and you have the assets to be able to liquidate those assets and pay off the loan at any time to make sure that you aren't one of the people who becomes a debt slave then uh then it's not as risky


but you know life is a risk so um uh you know i have most of my wealth stored in money i've got um too much currency right now and i've got some more currency coming and i'm going to take out a loan turning some of the value of the ranch into currency and that is going into gold and silver there you go yeah the future is uncertain uh which is another reason why we need to own gold and silver right so so just just be careful um but mike thanks for addressing this i think this will help some people that


were considering this topic so yeah so thanks mike and i'll see you on the next one okay thank you jeff