hi this is mike maloney with another frequently asked question from jeff clark jeff what question do you have for me today uh it's great to be back with you mike and yes we get lots of questions all the time so here's another one that i'd like to throw out uh to you from some viewers and that is mike do you own any other medals besides gold and silver and why or why not well let me see i just uh you know we we have to i've got a farm that i'm purchasing and uh it has these non-habitable structures


that we have to rehabilitate was heavily hurricane damage in hurricane maria i am buying some copper wire yes because it conducts electricity but all of the other metals are industrial metals platinum people ask me about platinum and palladium and even rhodium these are all catalysts uh they're they're used in catalytic converters and for chemical processes and so on uh they're they're not money they have never been money they will never be money gold and silver are meaning and it's


monetary demand when people become fearful of a loss of purchasing power of fiat currencies and they rush toward real money gold and silver that is when gold and silver do the big accounting platinum doesn't do the accounting neither does palladium or rhodium they have big moves in them if you're a professional trader and you can figure out what direction you think these things are going be my guest i'm just not interested i like to follow the economy monetary history economics these are my


passions and the thing that that is the most important to me is to try and figure out where prosperity comes from and what extinguishes it and in doing that i have to study economics and monetary history and um and so i just don't have any time to study technical trading analysis and all of this other stuff and so when i discover something that is fundamentally undervalued the fundamentals are what i uh do what's called long-term swing trading my trade is that i've been accumulating


gold and silver since 2002. i haven't sold any well i sold a couple little trinkets that were costing me uh too much in storage fees because brinks used to bill for each individual item separately and there was a minimum so i was paying ridiculous so i i sold a couple little trinkets but then i bought the same number of ounces back in things like bars or uh you know i have uh some silver and gold eagles and i've got silver and gold bars and that's the bulk of my holding for uh real tail risk


emergencies i don't like to be a tinfoil hatter but for the potential of something really bad happening and then governments trying to make precious metals illegal i do have uh bullion jewelry gold that we came out with at goldsilver.com but when it comes to other metals copper is used mostly in wiring and plumbing and if the world is going through a financial crisis they're not going to be building a ton of houses lead is used in car batteries zinc is used in castings platinum uh palladium rhodium these are


used as catalysts uh they're industrial and so if there's a an economic slowdown there's gonna be an industrial slowdown which means they may be going up due to hyperinflation but they won't be they'll be falling in uh value and price measured if you're pricing them with gold and silver those are the assets that are money those are the assets that everybody runs to yeah good point i i think the issue uh for me anyway is that because there's a monetary crisis coming we want monetary metals and even other


precious metals like platinum and palladium they're precious metals because they're rare in the earth's crest but they're not monetary metals the vast majority of their use like you said with copper mic is industrial and um the investment demand for platinum employee is actually very small it's less than five percent um central banks you know there's a reason that all of the that most of the world's central banks you were mentioning central banks just now i guess you were getting to


this topic but there's a reason that they keep gold on their balance sheets they're they most of them still have gold it's supposed to be this barbarous relic but they elevated gold to a tier one asset that means that it is considered as safe by the world's central banks as the sovereign bonds that they hold as uh the other currencies that they hold uh it's it's highly liquid other central banks will will take it in a heartbeat they'll readily accept it so it's one of the basis the foundation


that the monetary system is still built on even though they aren't using it to back the fiat currency that they create currently it's still on the balance sheets and they can go back to using it should their stupid idiotic fiat currencies i just can't believe you know there's going to come a time in the future where historians look back and they'll go what were they thinking exactly very good point and yes uh platinum and palladium we have an article on this and maybe we can link to it below this video


but platinum and palladium don't perform well during monetary crisis we've shown that during recessions they do poorly during stock market crashes they tend to do poorly whereas gold tends to perform well in those scenarios so i think the whole issue comes down to if you see a monetary crisis coming you want to monitor monetary medal and that's why we only sell gold and silver at goldsilver.com there you go that's that's absolutely true we've never sold any of the other medals uh and uh


i've i've well you know there was a while we had some marketing people and they got some copper uh rounds and stuff in for people that wanted them because some people want this stuff i don't like selling something that i don't believe is going to be good for people in the future and investing in copper rounds to me idiotic i'm sorry right uh gold and silver monetary metal for monetary crisis we're going to have monetary and economic crises simultaneously here economic crisis means the economy slows down


meaning the industrial metals fall compared to precious metals compared to gold and silver the precious metals that are the monetary metals right good point so okay mike well thanks for addressing this frequently asked question and i'll see you on the next video thank you jeff