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Why Buy Gold? Hear from Gold Industry Experts [VIDEO]

Larry King hosting session about buying gold, featuring industry experts
Jun 22, 2017

Join renowned host Larry King and a panel of gold industry experts in our exclusive Gold Summit for a rich discussion about why you should buy gold, how it can help protect your financial future, and why President Reagan believed that gold ownership was an American right.

This program features a panel of distinguished precious metals industry experts, including Brad Castillo, Gold Show Host and Industry Veteran; John Rothans, Master Numismatist and long-term market buyer and seller of coins; and Philip N. Diehl, former Director of the U.S. Mint, Chief of Staff to the U.S. Treasury, and President of U.S. Money Reserve. The program also features a special guest appearance by Michael Reagan, son of former U.S. President Ronald Reagan.

After watching, call 1 (844) 307-1589 to take advantage of your right as an American and start protecting your financial future with gold, today!

Why Buy Gold? Hear from Gold Industry Experts – Video Transcription

Larry King: Hello, and welcome to the United States Money Reserve Gold Summit at the beautiful Colony Theatre in Los Angeles, California, where the line is long and the crowd is out in full force. They're heading into the audience now for what promises to be a powerful evening all about gold. Our panelists are all well-known from the gold and silver industry. As the crowd is being ushered into the audience, I'm going to give you a quick introduction to our summit panelists tonight.

The first panelist is Brad Castillo. Brad has worked in the gold and precious metals industry for over a decade. As the former vice president of sales for United States Money Reserve, he's been host of numerous gold and silver shows for the company.

Our next panelist is Philip N. Diehl. He served as chief of staff of the United States Treasury before serving as the 35th director of the US Mint. Diehl is currently president of United States Money Reserve and chair of the Industry Council for Tangible Assets.

Our third and final member of the Gold Summit is John Rothans. As a master numismatist, John has been a major market buyer and seller of coins for more than 30 years and he has traded over one and a half billion dollars in rare and modern coins as well as gold and silver bullion. Let's hear it for our Gold Summit panelists.

Welcome to the United States Money Reserve Gold Summit. I'm happy to be here to moderate this summit panel today. This promises to be an incredible evening of powerful information all about the gold market today. Before we get started, I'm proud to introduce bestselling author, former radio talk show host of 26 years, president of the Reagan Legacy Foundation, and son of President Ronald Reagan, one of this country's most popular and enduring presidents. Please welcome Michael Reagan.

Michael Reagan: Good to see you, Larry. Thank you. Thank you, thank you, thank you.

Larry King: Michael, you know I had your father, President Reagan, on my show many times, even celebrated his birthday on my program. I considered your father a friend and a great president.

Michael Reagan: You know something? He really enjoyed being with you, also. We talked about it on many occasions. Nancy loved being with you and seeing you do shows about my father, so thank you very much for having me here. Thank you very much for being here at this Gold Summit. It's wonderful to be here today and share with you a little bit about my father.

When I was growing up with my father, I learned a lot about gold. I learned, in fact, how much he thought private and personal gold ownership really was the right thing to do, in fact so much who that he believed it was your right to be able to buy and store gold any way you wanted to. He signed, in 1985, they're historic Gold Bullion Coin Act of 1985. When you really look and see the impact of that act, had it not been signed, we today would probably not even be discussing gold ownership and the great things gold ownership can do for each and every one of us.

New gold bullion coins had not been minted in 53 years. When Richard Nixon, when he was president, took us off the gold standard, in fact it helped create the 19 trillion dollars in debt that we have today. We have a great group of panelists here who are going to give you some great insight into gold and gold ownership. I just applaud them for being here. I applaud you for being here because my father was one person I learned from. Gold owner ship was right. Larry, thank you very much.

Larry King: Thank you Michael. It's great having you here to kick off the Gold Summit. During the program we'll discuss exactly what is driving the gold markets. We've got insights on why we've seen some volatility in gold prices in recent years and why the panelists strongly believe that increased turmoil around the globe means that there may never be a better time to own physical gold than right now. We'll give you in the audience a chance to ask some questions a little later but now let's get right into why we came here, to hear exactly what our panelists think about gold and gold ownership. Let's start with Brad Castillo and then open it up to everybody.

Brad, we heard from Michael Reagan how President Nixon had taken us off the gold standard. He stated that as a contributing factor to America's over 10 trillion dollars of debt. Did you agree with what he said?

Brad Castillo: Absolutely. President Nixon took us off the gold standard over 40 years ago, and I do believe that it has contributed to the more than 19 trillion dollars of debt currently affecting this nation.

Larry King: Let's go to the president of the United States Money Reserve, former 35th United States Mint Director, Philip N. Diehl. Philip, your thoughts?

Philip N. Diehl: Open the home page of your favorite news sites these days and the headlines are dominated by economic and political crisis around the globe. These troubles are not confined to just other countries. They hit us hard right here in America, too, in our wallets, in our financial portfolios. The decade long explosion of money supply in the US, Europe, and Japan is unprecedented in history. Many experts fear these easy money policies will eventually lead to hyper-inflation and another devastating economic meltdown.

Larry King: John Rothans, your thoughts?

John Rothans: Larry, I completely agree with Philip. Dollars in circulation have expanded exponentially by some 2,500% since 1970 and, simply put, metals like gold have proven themselves to most often react positively when the dollar stalls.

Larry King: John, why do you think that gold seems to have that kind of positive or opposite reaction?

John Rothans: Gold has reacted that way for centuries and is really looked upon by much of the world as a safe haven in times of financial crisis. Gold historically tends to move the opposite direction of the markets in times of financial upheaval.

Larry King: Now, question, Philip, is why gold?

Philip N. Diehl: Larry, we live in uncertain, even dangerous, times. I believe another financial crisis is likely, one even greater than the Great Recession of 2008. I think it will come sooner rather than later. Vulnerable banking systems, crippling government debt, deflationary economic policies, growing income inequality, and rising immigration pressures threaten the security of the US, Europe and much of Asia have enjoyed since the carnage of the two world wars.

Brad Castillo: You know, Philip, you only have to look at want happened in June of 2016. In a historical upset, Britain voted to leave the European Union after joining more than 40 years ago. The global markets reacted almost immediately to the news. In fact, world stocks lost more than two trillion dollars, two trillion of their value, Mr. Diehl.

Philip N. Diehl: The Dow Jones plunges over 600 points and the S&P was on pace for the biggest loss since August of 2015.

Larry King: That was an incredible turn of events. What impact did that Brexit vote have on the gold or the gold market? Mr. Rothans, to you.

John Rothans: In an instant, the global economic markets went into a tailspin. In the 24 hours that followed, many banks took huge losses because of the vote. Citigroup plummeted by nine percent on the news, but what did gold do? Gold prices went up. Gold hit its highest price since 2014.

Philip N. Diehl: This is another in a long line of historical examples of how gold prices typically rise in times of political or economic turmoil. The Brexit vote was a shock to almost everyone. I believe it's a clear sign. The world’s largest economies and their central banks see the very real risk of a crisis. They are taking actions to protect themselves, including turning to gold as a hedge against the hard times to come.

Larry King: We'll come back to our program shortly, but listen now to our panelist, Brad Castillo, as he tells you how you can take the advice you've heard so far tonight and start adding pure government gold to your portfolio.

Brad Castillo: If you're watching at home right now, you've heard some incredible and compelling reasons why gold should be part of you and your family's financial portfolio. If you're ready to own physical gold or you already own some gold but would like to add more, I urge you to call the United States Money Reserve right now, one of the most respected name in the precious metals industry. Call the number on your screen right now to talk to one of our account executives and get more information on what you've heard here today. Gold prices may never be this low again. Gold is on the move. Get US government gold right now, at cost, for the low price per coin that you see on your screen.

You've heard from some of the greatest minds in the precious metals industry on how you can protect your family's future with physical gold. The value of gold has risen more than 260% within the past 10 years alone. As a result, millions of Americans that purchased gold doubled their money. The information you're hearing during this summit should make you rethink how you should save for your portfolio.

I'm telling you. Do not delay. Gold is on the move. Gold prices rose as much a 28% in the first half of 2016 alone, and prices may never be this low again. Gold hit a high of $1,923 an ounce. Currently it's moved back to around $1,200 an ounce, and that is good for you. This is an incredible chance to get in on the gold market while prices are still low. We will securely ship the gold right to your home, bank, or office. A recent CNBC article summarized that the financial leaders at Deutsche Bank were bullish on gold, suggesting that due to rising economic risk and market turmoil, investors should buy gold for insurance.

Listen to what the experts are saying. You need to own gold and you should be adding it to your portfolio while you still can. The phone lines are open and the US Money Reserve has already shipped millions of dollars of government gold. Don't wait another minute. The prices may never be this low again. Now's the time to lock in your gold order before the price goes back up. If you've been waiting to enter the gold market or have even been on the fence about whether to buy gold, you really need to think about what you've heard here so far.

As an asset, gold has never lost its entire monetary worth and is not subject to the whims of governments or government turmoil. In fact, as you've heard, historically gold prices have often risen even in the worst of economic times. Don't delay. Pick up the phone and call right now. This is your chance to own physical, US government issued gold coins priced at cost, free of dealer markup, for the low price that you see on your screen.

This is one of the best gold offers available anywhere and prices may never be this low again. Pick up the phone and call the US Money Reserve right now.

I'm back here on the stage now, and we'll be getting back to the summit in just a few moments, but I first wanted to show you an amazing demonstration to further illustrate the potential of owning physical gold compared to owning US dollars. We brought in armed guards with gold and cash. Guards, please stand by with the gold.

In 1971, the year we came off the gold standard, the price of gold averaged around $40.61 and ounce. The median price of a house in 1971 was around $25,000. Here's $25,000 in real money on this table. Now, the price of that house in gold at just over $40 and ounce would equal around 615 ounces of gold. In 1971, 615 ounces of gold would have bought you a $25,000 house. Guards, please bring in the 615 ounces of gold.

Now, by the way, if you had this 615 ounces of gold back in 1971 and held onto it, if you had kept this in your safety deposit box, for the current price today of around $1,200 and ounce, this same 615 ounces of gold would now be worth almost $800,000. That's right. That $25,000 worth of gold would now be worth almost $800,000. Guards, go ahead and bring in that $800,000 please.

By the way, that $25,000 home would be worth around $250,000, give or take. If you had held on to that gold that you purchased in 1971, you could buy three of those houses at today's prices. Thank you, guards. You can take away the cash and gold.

Larry King: We're back again with our panelists at the United States Money Reserve Gold Summit. Gentlemen, welcome back to the panel and let's get right back into it. How exactly can gold help Americans in another economic meltdown, John?

John Rothans: Look, the people running these central banks are some of the greatest economic minds in the world. If they're doing it, if they're betting on gold as so many of them are, that's not a mistake. That's by design. Don't you think you should be taking their cue and buying gold for yourself and your family while you can? Shouldn't you have that same protection?

Larry King: You really believe that owning gold can protect American families against this financial uncertainty or financial ruin in the same way that these central banks seem to be looking at gold as an asset of protection? Brad?

Brad Castillo: When the 2008 financial crisis hit, it hit hard. It hit unexpectedly. It was devastating and it destroyed lives. The Dow Jones lost more than 5,000 points in less than one year. The average 401k retirement account lost more than 30% of its value. The housing market crashed and lost eight trillion dollars in homeowner wealth and there were over five million foreclosures and the US lost more than 22 trillion dollars, all told, 22 trillion.

This was all less than a decade ago, not centuries, not the Great Depression, but less than 10 years ago. Remember, during that same period when so many people were losing money, gold prices actually increased by as much as 17%. People who bought gold before the 2018 collapse made money. Very few others can say the same thing. Gold owners who stored their gold away in a safe or safety deposit box made money.

Philip N. Diehl: I want to highlight the importance of what Brad just said. American citizens who bought gold before 2005 and held it, just put it away, tripled their money. The best advice that I can give to people who want financial insurance, wealth insurance, as a hedge against economic hard times is buy gold. Make gold a part of your financial portfolio and simply hold onto it. It's just that easy and it's just that important.

Larry King: That sounds remarkable. It was certainly a devastating time for so many folks. It's more than interesting and quite revealing to learn that those with the foresight to own gold had some type of financial insurance against these massive losses. Please continue.

Philip N. Diehl: Financial insurance is a great way to put it. Here's an eye opening fact. Since the Gold Bullion Coin Act of 1985 became law, gold has outperformed the S&P 500 by a factor of three. That's right. Gold's cumulative average return has been three times that of the S&P 500.

Larry King: How can economic turmoil in countries around the globe affect us and what part does gold ownership play in all of that? Mr. Diehl, we'll start with you.

Philip N. Diehl: When you see all these countries stockpiling gold, it looks like it's a time to act now scenario. It's a clear warning sign. There are ongoing severe debt crises in at least 10 nations in Europe, some of which are facing potential bankruptcy. The financial issues facing these countries could send global economies, including our own, into a tailspin.

Brad Castillo: You're absolutely right, Philip. As I mentioned earlier, we're living in a very scary time right now. It's a world of constant global economic uncertainty. The paper debt in countries around the world and our own is seriously devaluing the worth of paper currency and there could be many countries facing the prospect of a devastating economic depression.

John Rothans: Let's not forget about the people how lost everything to the Bernie Madoffs and other criminals that prey on honest, hardworking Americans. At the end of the day, we're either victims of fate or we make our own fate. We all know the saying. Hope for the best, but prepare for the worst. That's what gold ownership is all about. Gold can protect us and our family's from the worst the world throws at us.

Brad Castillo: An ounce of gold is an ounce of gold no matter where you're at in the world. You just can't say that about paper currencies. If banks collapse and economies fall, that gold coin would be accepted anywhere. The gold will never lose its full monetary worth, which is why so many countries are stockpiling gold.

Let's look at China. It was just announced in May, 2016, that China was buying a massive gold vault at a secret facility in London. At current prices, about 90 billion dollars worth of gold can be stored inside. Let me share an eye opening figure with you. Since 2010, gold imports to China have increased to over 700%. Do you think that China sees the benefit of physical gold ownership in case of an economic crisis? I'd say that's very clear.

Larry King: Gentlemen, in your opinion, what would motivate all this frenzied gold buying by these countries? Brad?

Brad Castillo: Well, Larry, quite simply we live in a scary world right now, a world of constant global turmoil and dire economic uncertainty. We're in a time where paper debt in countries around the world, including our own, is seriously devaluing the worth of paper currency. Many countries are facing the prospect of an economic depression. I firmly believe that's why gold is a preferred asset of central banks and more governments as a store of wealth for when that paper money loses value.

Philip N. Diehl: I couldn't agree more. The world today forces us to rethink the way we save and retain wealth. We must lose the mindset that it can't happen to me. Many people think that we are immune to the economic hardships that befall people everywhere else in the world. In fact, it's happening right here in America. Case in point, Detroit, the largest US municipality to ever file for bankruptcy.

Brad Castillo: And don't even get me started on municipal bonds. For years millions of people thought these were fail proof.

Larry King: Municipal bonds, or munis, are debt securities that are issued by countries, states, or cities and they are sold to fund day to day city services, building schools, highways, or city sewer systems. Surely these are safe, right? You consider them to be safe?

Brad Castillo: They're supposed to be safe. They're supposed to be for services to serve the community and issued by a state of city. No way these could go belly up, right? Guess again. As more and more of these cities become faced with crippling debt, we begin to hear more and more about how these munis have become greatly devalued. I'm telling you, you need to be buying gold now.

John Rothans: An August 2015 report stated that there are at least 20 US cities and counties right now including Stockton, California, Boise County, Idaho, Central Falls, Rhode Island, and San Bernadino, California, that may also be facing bankruptcy. There have been as many as 51 municipal bankruptcy filings since January of 2010, and other well known US cities may also be facing potential bankruptcy.

Larry King: Well, it seems pretty clear that when these big cities, countries, and municipalities face the financial issues that so many of them are these days, it's the people, ordinary citizens, that suffer.

Brad Castillo: I would say it's certainly important to have your stocks, bonds, and savings in your financial portfolio. We're not saying don't have those things. I would say that in light of all of this economic uncertainty that buying and holding and owning a portion of gold in your own safety deposit box or safe as a part of your portfolio is equally as important for you and your family's financial future.

Larry King: Thank you, Brad. It's amazing how many factors, too many to count really, can have a devastating effect, not only on the global economy, but every one of us and our finances. Let's talk a bit now about the price of gold and what you all see for the future.

John Rothans: Well, Larry, a recent May, 2016 report by the World Gold Council states that in developed markets, gold coin demand is surging, especially for gold American eagles, which has more than doubled since the same period in 2015.

Brad Castillo: You know, John, in a Harvard Economics professor stated in a May, 2016 article, that emerging markets need to shy away from the US dollar and US treasuries and instead invest in gold. That same article goes on to say that gold is a better investment for emerging markets because there's no limit on its price. I'll tell you further, even as we film this program, gold has risen more than 28% in the first half of 2016 alone.

Larry King: Thank you, panel, for your incredible insights and thoughts on why you believe everyone should own gold. We'll come back with our panel shortly, but first, let's listen to Brad Castillo.

Brad Castillo: If you're watching at home right now, you've heard some incredible and compelling reasons why gold should be part of you and your family's financial portfolio. If you're ready to own physical gold or you already own some gold but would like to add more, I urge you to call the United States Money Reserve right now, one of the most respected name in the precious metals industry. Call the number on your screen right now to talk to one of our account executives and get more information on what you've heard here today. Gold prices may never be this low again. Gold is on the move. Get US government gold right now, at cost, for the low price per coin that you see on your screen.

You've heard from some of the greatest minds in the precious metals industry on how you can protect your family's future with physical gold. The value of gold has risen more than 260% within the past 10 years alone. As a result, millions of Americans that purchased gold doubled their money. The information you're hearing during this summit should make you rethink how you should save for your portfolio.

I'm telling you. Do not delay. Gold is on the move. Gold prices rose as much a 28% in the first half of 2016 alone, and prices may never be this low again. Gold hit a high of $1,923 an ounce. Currently it's moved back to around $1,200 an ounce, and that is good for you. This is an incredible chance to get in on the gold market while prices are still low. We will securely ship the gold right to your home, bank, or office. A recent CNBC article summarized that the financial leaders at Deutsche Bank were bullish on gold, suggesting that due to rising economic risk and market turmoil, investors should buy gold for insurance.

Listen to what the experts are saying. You need to own gold and you should be adding it to your portfolio while you still can. The phone lines are open and the US Money Reserve has already shipped millions of dollars of government gold. Don't wait another minute. The prices may never be this low again. Now's the time to lock in your gold order before the price goes back up. If you've been waiting to enter the gold market or have even been on the fence about whether to buy gold, you really need to think about what you've heard here so far.

As an asset, gold has never lost its entire monetary worth and is not subject to the whims of governments or government turmoil. In fact, as you've heard, historically gold prices have often risen even in the worst of economic times. Don't delay. Pick up the phone and call right now. This is your chance to own physical, US government issued gold coins priced at cost, free of dealer markup, for the low price that you see on your screen.

This is one of the best gold offers available anywhere and prices may never be this low again. Pick up the phone and call the US Money Reserve right now.

Larry King: Before we wrap things up tonight on this tremendously educational United States Money Reserve Gold Summit, let's go to the audience for some questions for the panel. First question, the gentleman.

Speaker 6: Yes, Larry, how does gold compare with the stock market?

Larry King: Philip, your thoughts.

Philip N. Diehl: When stocks and other assets are tanking, gold typically rallies. Gold can also perform well when the economy is strong. The economy is growing again in 2016, while gold prices have increased by 28% this year.

Larry King: Thank you, let's go to another question from a member of our audience, the gentleman.

Speaker 7: How much of my portfolio should be in gold?

John Rothans: I'll take that one. The answer depends on a number of factors. Five to 10% makes sense for many investors, but you should consider a larger allocation to gold if you're worried about the economy.

Larry King: Thanks John, we have time for one more question, the lovely lady here in the audience.

Speaker 8: Hi. Can you explain the difference between owning ETFs versus physical gold?

Larry King: Brad?

Brad Castillo: Frankly, not even most people on Wall Street completely understand them. Gold ETFs were designed to allow sophisticate traders to speculate on short term movement in gold prices. These traders use complex computer programs that have special access to market information, which gives them a huge advantage over small investors who really have no business in the ETF market. If you want to own gold, buy physical gold, gold that you can hold in your hand.

Larry King: I want to thank our panel for being here today and for joining us at the United States Money Reserve Gold Summit. We have gotten some incredible and useful insights into the gold markets and why they think you should be adding gold to your financial portfolio. For the United States Money Reserve Gold Summit we thank you. Now, here's Brad Castillo again to tell you some more.

Brad Castillo: Thank you, Larry. Call the number on your screen right now to talk to an account executive and get more information on what you've heard here today. I'm telling you, gold prices may never be this low again.

Get US government gold now, at cost, for the low price shown on your screen. You've heard some incredible insights from insiders and veterans of the precious metals industry on how you can protect you and your family's financial future with physical gold. Don't wait another minute. Call the number on your screen now. Do not delay.

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