-
Unknown A
Andrew Colvett in for the one and only Charlie Kirk, who is on assignment today. He'll have updates for you tomorrow, I am sure. Lots going on, never a shortage of anything to talk about. Right now. I am excited to bring on my friend and friend of the show, Colin Plume from Noble Gold Investments. Colin, welcome to the show. We normally have you in studio when we do gold conversations or investment conversations or macroeconomic conversations. But we kind of had to rush this one because there's something else going on in the gold conversation that we just had to have you on and walk us through about this story. I mean, it really is something, it's something I never thought we'd be talking about. And that's of course, Fort Knox, which is where all the gold is supposed to be. At least that's what we're told. So anyways, welcome to the show, Colin, and why don't you walk our audience through what Fort Knox is like 30,000 foot level.
-
Unknown A
What is it? What's its purpose? What's its goal? What's its function?
-
Unknown B
Yeah. So Fort Knox was created in 1937 to store our nation's gold, our gold, which is what Elon Musk and President Trump have been talking about. This is our gold. So we should be able to see it, which I think is really important. We've never done an audit in full audit in 50 years. The in 1941, they did an audit and we had over 20,000 tons of gold at that time. It's unclear where a lot of that gold was or where it is today because we currently have reported almost 8,200 tons. So we must have sold it at some point. It's not clear where it was sold or who owns it at this point. At one point, we had 80% of the world's reserves. And so when 1944 hit, we went to Bretton Wirz exchange. We were, because of all this gold and the strength of our economy, we were the likely choice to be the world's reserve currency.
-
Unknown B
And so we became it, we became the currency of the world. And I would say that is one of the greatest advantages that we've had since 1944 to be able to have this control over the world's currency. And everyone's been using our currency. So right now supposedly we have about 50% of our gold stored there. But they've, they've really done, they haven't done a full audit. The last, they did a partial audit in 1974. They did about 5% audit. They've had people go in in the 80s, a few senators, and then in 2017, a few senators did a cursory look around, but they didn't do like a full audit. So this is really a sign that this administration is believes in transparency. And also we want to know what we own. And. And so we're going to go in and do this audit and we will see what we own there in the depository.
-
Unknown B
But keep in mind, the gold that we own there is not what's typically traded today. It's not 0.999 gold. These are gold coins that were melted into gold bars in the 30s. So they're actually 90% gold. So we have about 10% less gold than what's currently traded on all the exchanges. Not that it matters so much, but we just don't have the same currency, we don't have the same gold that we're trading in today's world.
-
Unknown A
I mean, it's all really fascinating. So you're basically saying Fort Knox, there's supposed to be 18,000 tons of gold during World War II. In 1971, it was down to 8,100 tons. And officially it's dropped to 4,583 tons. That's the last we know.
-
Unknown B
That's what's in Fort Knox. Yeah, some of it's in bank of New York. And we have other depositories. We're supposed to have 8,144 tons of gold, which if they revalue today. Well, and that's another thing. What are they going to revalue at? You know, I think it would make more sense for them to revalue at $4,000 an ounce, because if they do it at 4,000 and we have the actual goal that we say, that'd be $1 trillion. And so we would basically put $1 trillion onto our balance sheet as opposed to what we have right now is it's valued at $11 billion. So. So it would be a big boost for us to show this on our balance sheet. It would show confidence to the world that we have.
-
Unknown A
If it's there. If it's there, Colin. So let's go ahead and play cut. 188. This was President Trump seated next to Emmanuel Macron from France. And he's just sort of speculating what we're going to find at Fort Knox. 188.
-
Unknown C
We're actually going to Fort Knox to see if the gold is there, because maybe somebody stole the gold. Tons of gold.
-
Unknown A
And again, in 187.
-
Unknown C
We are also going to Fort Knox. I'm going to go with Elon. And would anybody like to join us? Because we want to see if the gold is still there. We want to see. Wouldn't that be terrible? We open up.
-
Unknown A
He was about to say, wouldn't that be terrible? We open it up and it's all gone. So, I mean, you can see, even by the reaction of the crowd calling, this has captured the imagination of America, of the world, frankly. He's doing it right next to Emmanuel Macron. I want to ask you a provocative question. What happens if the gold is gone? Like, what does that mean to the economy? Should investors be worried? I mean, will the price of gold skyrocket? What happens?
-
Unknown B
I don't think there's any situation that gold doesn't go up in value. And I know that's something for. Easy for me to say, but I believe that because we're basically, if the gold's there, we're sending a message that this is a key asset. And also it's an asset that we own without debt. And we know how much debt we're in. 35, $36 trillion. So we actually have this asset. We revalue it, we put it on the books. It gives us a little bit more flexibility and it sends a message to the world that we're strong. If we don't have it, then I think we'll see a precipitous drop in the US dollar. Even the idea of revaluing it from 11 billion to 750 billion, if history repeats itself and the times that we've done these audits, the dollar has lost significant value. And it goes back to what I've talked about a lot, is that owning assets right now in an inflationary environment is extremely important.
-
Unknown B
And even though people say, well, gold's hit an all time high, I don't know, it's always been this way. Every year people say, oh, it's hit another all time high. I mean, gold's up 46% over the last year and a half. So it's, it's important to realize that assets are becoming really important. And the US Government and our president is saying we need to know what assets we have that don't have debt. He's gonna sell some of our land, he's gonna sell buildings that we don't need. But this is a strong asset and he wants to put us to the forefront. And President Trump always talks about gold. I mean, his apartments are gold. We're talking about this $5 million gold.
-
Unknown A
Yeah, the gold card, Colin. The gold card. I thought of you. I was like, why have we got Colin coming on a little bit?
-
Unknown B
The gold card, everything, yeah, everything he talks about leads us to gold. And I would say further that this is really important because the last three years, and this has never happened in history, the world has bought over a thousand tons of gold for three years in a row. Think about that. So they're creeping up on us. They're becoming more dominant in the gold space. And so now Trump and his administration are saying this is really important for us. And Judy Shelton who's in his cabinet is a big, big gold butt. I mean she just wrote a book about gold. So all signs are leading us to sound money principles and asset principles. And gold is a big part of that story. So this is, it's, this is something I've wanted to happen since I've been in the gold business for 16 years. They've, they need to do this.
-
Unknown B
They need to continue to do this. I audit my depository every month. This is important to do. So it is important for us as a country to know because as Elon Musk said, this is our money, this is our worth. We own this. The taxpayers own this.
-
Unknown A
So calling we have the right to know. Yeah, I totally agree. I mean it's gonna be fascinating either way if it's there or if it's not there, it's gonna be super fascinating. I don't think people should be worried. But to your point, I mean, could be a good opportunity given such a high profile newsy event to get in touch with where are your assets by the way, this is James Bond at Fort Knox. I mean this is how much Fort Knox has capt the public imagination which, which makes it, I think, you know, an important financial event. Colin, really quick 30 seconds. How can people find you? Get in touch with you. By the way, Collins, the man, Colin is not a shyster, he's not a fraud. He is the real deal. He's a good friend of the show. So Colin, where do people find you noble gold investments?
-
Unknown B
You can call us. Obviously mentioned, you heard Andrew and I here on the show. We have a ton of promotions and I will say even though gold has gone up our prices on bullion coins and bars, a real thing, it's never been better.