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But now we’re seeing gold go up. Why is that? The same thing happened in 2016 when President Trump was elected. Gold had a drop off and then in January, February, we started to see it go up and it went up significantly.
Today is much different than 2016. I expect we’re going to see it go up far greater because of all the things that are happening today. We have far more debt.
We have these tariffs coming in. We have all these inflationary policies. The world is on fire in a way that it wasn’t, you know, eight years ago.
Things are all pointing towards moving towards a safe haven asset and something that’s going to protect us from all of these things that are coming in the future. So, yes, if you ask me, absolutely, I believe that we’re going to see these prices continue to go up in a very significant way. You’re watching Capital Cosm.
My name is Danny and today’s guest is Taylor Kenney from ITM Trading. Taylor, thank you for coming on the show for the first time. Awesome.
Thank you so much for having me, Danny. I’m excited to be here. Yeah, totally.
Well, let’s just dive right in, Taylor. For people who may not know who you are, who may be coming across you for the first time, if you don’t mind kind of giving us a brief background, an origin story, so to speak, on who Taylor Kenney is and then we can kind of dive into various topics in gold and silver. Yeah, absolutely.
Like I said, very excited to be here. I am an economic journalist with ITM Trading. We specialize in gold and silver and helping people protect their wealth.
But me, a little bit about me, I actually got my start in emergency preparedness, very passionate about helping people prepare for whatever it might be, natural disasters, different things, of course, that have been going on in the world. And that led me to the world of precious metals, which led me down the rabbit hole of financial preparedness and kind of peeling the curtain back on everything that’s going on in the world. And once I started down that journey, I haven’t been able to stop.
So very passionate about just kind of helping people understand what’s going on in the world in a way that, frankly, the people in charge aren’t helping people understand what’s going on in the world. That’s very interesting. I didn’t know you had a background in preparedness.
We do cover some, a lot of that here on the channel as well. What are some of the biggest danger vectors or risk vectors in preparedness? It seems like all roads lead back to gold and silver, right? Preparedness and economics and geopolitics, everything goes back to gold and silver. But what are some of the risks that you see out there that should lead someone to just becoming more prepared in general? Well, it’s a good question.
What’s funny is that I actually specialized in helping everyone prepare. So I grew up in rural Southern Oregon. We didn’t call it prepping emergency preparedness.
It was just a way of life. When I moved to a city, I realized looking around, no one was prepared for anything. And I thought, wow, there’s this really, there’s this big misconception that you have to be a homesteader or be all in or check these boxes in order to be prepared.
And I started asking my friends, do you even have a week’s worth of food and water? Do you own this or that? Have you taken a basic course on this? Do you have basic first aid training or kits? And as these questions started evolving, I realized everyone should be prepared no matter where you live, no matter where your financial situation is at. I mean, it’s something that if we as a society, we’re more prepared individually, we are stronger and better equipped to handle what’s going to be coming next, which again, you never know exactly what that is, but the proper motto, right? Better to have it and not need it than need it and not have it. Exactly.
Well, let’s just dive into some of the news going around the headlines nowadays. For you, however, what is most topical for you on your radar? Well, there’s a lot. I know you and I were just chatting about how much there is to get into.
Some things I definitely want to talk about are Trump tariffs. I also want to talk about the everything bubble that’s going on. I don’t know if you’ve been following closely everything that’s happening in AI right now and tech.
There’s some new news today with Alibaba. And I know a lot of things are being shaken up in the markets with advanced AI. And that’s something I think is really interesting because I’ve been talking a lot about market concentration and overvaluation of stocks.
And I think what we’re seeing this week ties directly into that as well. So that’s something I don’t know if maybe we want to start there with the everything bubble, a simple topic, but… Yeah, take it away. Okay.
Okay. Terrific. Yeah.
So it’s obviously no secret that we are in one. It’s obviously no secret that stocks are overvalued. I think it’s interesting this week again, in particular, this is very topical because I constantly look at history as a tool to kind of inform where we are today and where we’re going tomorrow.
I look at the dot-com bubble. It’s no secret that the internet revolutionized every single component of our world as we know it today. But what happened during that time period? Stocks were overvalued because there wasn’t a good valuation model.
People were excited. There was a lot of hype, rightfully so. But because of that, things went through the roof, right? And then the valuations couldn’t stand up.
I think we’re seeing a lot of that today with AI. And I’m not the first one to say this. I’m not the only one to say it.
But again, people get very excited and they think that the line is going to go up forever. In reality, it won’t. Same thing is happening with AI.
It’s not to say it’s not already revolutionizing our world and that it’s going to continue to do so. But this week, have been following what was going on with DeepSeek? Oh, yeah. Okay.
Yeah. So just seeing that there are competitors out there who are faster and better and spending a fraction of what we’re spending here in the United States. And the fact that this caught everyone so off guard is the part that kind of got me because it’s like, what else is coming out there? And then today, oh, just kidding.
There’s actually even another model that’s faster than what we’re seeing from DeepSeek, right? And it’s kind of like, what else is even out there that we don’t know that’s going to shake up everything? All these tech companies that are accounting for the majority of the market gains, they are all intending to spend exorbitant amounts on AI moving forward. And now we’re seeing, oh, there are other people out there doing it for a fraction of the cost. What does that tell you about the real growth that we’re seeing in these companies versus what people just assume is happening? Yeah.
It pretty much kind of elicits that a lot of the money being spent on AI isn’t being spent very efficiently now, is it? If you’re able to replicate, not replicate, but do the same job at a better performance for a small fraction of the price, it does kind of imply that you may be in a bubble here in the United States. And just kind of leveraging off my background, my previous life as a data scientist, a lot of what we have in the United States is it’s a closed system. We build AI at Google, at Meta, at OpenAI, whereas in China, what they’ve done is they’ve let open source kind of take the helm, which makes sense because when you have an open source system, information is able to flow more freely and you’d expect to see improvements in performance, improvements in efficiency and so forth.
So right to your point, I do think it spells that we are in an AI bubble. The next question, however, what does that mean for the totality of the market? Well, I mean, everyone likes to ask, when is the bubble going to pop, right? Because we know the bubble, the air doesn’t come out slowly when bubbles burst, they burst loudly and suddenly. I’m not trying to say that’s going to happen tomorrow.
I don’t know. I don’t have a crystal ball, right? But I think again, this week was a good wake up call to a lot of people of what could happen. So the last time we saw the market as concentrated as it is today was in the 1970s.
We are seeing extreme levels of concentration, meaning that, of course, a small handful of these companies are accounting for the growth. That means that if these companies that came out, oh, just kidding, this growth isn’t real, which we know it’s not. I mean, I think I was looking the other day, if we look at the total amount of stock value compared to the GDP, it’s two to one, right? Like this growth is not sustainable.
It’s not real. It’s funded by government debt. So we could continue to see a lot of government spending, which I know we’re going to talk about today too, that could help kind of prop things up.
But I think the bigger question to your point is like, what’s going to happen when the bottom falls out, when the growth isn’t here? And I think what we could see is significant.com, again, looking at history, 50% of the market was gone, right? Like that. Today, we’re seeing these levels higher than they were back there. So I would expect the fallout to be even worse, if you ask me.
And I believe you also have higher levels of margin debt in play today as well, versus the .com bubble. So people are just taking loans, going on margin to buy stocks. Yeah, and absolutely.
And that’s a slippery slope because it just compounds the issue even worse. No, absolutely. It’s funny you brought that up because I was just talking about that the other day in a video.
And it’s something that no one’s talking about in mainstream media. Like it’s not talked about on the news at all. And I think maybe it was around 2008, there was a lot more conversation around this saying, okay, this is something we should be watching.
Levels today are far higher. What happened to those cries to be watching out for that? They completely disappeared. And again, I don’t know if that’s just because everyone wants this train to keep on riding, but we can see.
I mean, it doesn’t take a rocket scientist to look at the numbers and say they don’t make sense. Yeah. So let’s go ahead and move over to fiscal policy.
Sure. You’ve had these lines from Trump and some of the people out there that they want to cancel the income tax. Yes.
And they want to replace it with tariffs. Well, the income tax, I believe, accounts for about, what, $5 trillion in annual revenue or something like that. Can you actually substitute? Are tariffs going to be a big enough substitute to be able to make up for that gap, I guess, in revenue from the government through income tax? Or are they just going to have to print more money to make up for it? Great question.
There are people who fall into two different camps. I’m very clearly in one camp, which is the answer is no, no. Tariffs cannot replace income tax.
Like you said, income tax accounts for the majority of our revenue. Today, tariffs account for less than 2% of our revenue. An argument I hear a lot of people say is, well, and President Trump himself has kind of alluded to this like pre-Federal Reserve era in the United States where we didn’t have income tax.
And I’m seeing this go around a lot on social media, too. People saying, well, we didn’t always have income tax. We used to rely on tariffs.
Why can’t we do that again? And it’s a great question. I don’t blame people for asking it or proposing it. The difference is, is if you look at what we were spending, let’s say, in 1910 and put it in today’s dollars, I think it was something like $25 billion annually is what the U.S. government was spending.
Today, obviously, we’re spending, what, $7 trillion. I mean, the numbers don’t compare. And of course, it makes sense because the government was very different back then, right? We didn’t have Social Security.
We didn’t have Medicare and Medicaid. If there was a natural disaster, the government wasn’t stepping in and helping out, right? Like there are so many expenses today. Defense, it makes sense that we’re spending so much more because the government’s role has grown so much.
So to think that we could make that up with tariffs alone, even if we tariffed 100%, I mean, the numbers do not add up, period. Now, if I could keep going, I know then there are a lot of people out there who say, well, that’s okay. That’s okay.
Even if my taxes can be cut in half or reduced, I’ll still take that as a win, which again, I’m not saying I wouldn’t love that as well. Who wouldn’t? Of course. Great.
Yes. I don’t want to spend more in taxes. At the same time, to your point, we are running a $2 trillion deficit.
So the mountain becomes even more significant. We’re not even talking about replacing revenue. It’s replacing revenue and, and I know that we’re doing a lot right now, right? Like every day in the news, there’s been different articles coming out of what president Trump is doing to try and cut spending.
So we know he’s serious about that, but the gap is significant. And I just am not seeing again today, how that makes sense. I believe the goal from Doge was to cut what? $2 trillion by 2026 or seven? Isn’t that the stated goal? I actually don’t know the goal off the top of my head and numbers, but if that’s the case, I mean, again, that would be significant.
Of course, I’m not saying it wouldn’t, but it’s still is not enough to make up with tariffs. Yes. And if we want to make meaningful progress on our debt, it just doesn’t quite make sense.
I don’t see it working out that way. Now that’s not to say there couldn’t be other factors at play, something that I’ve actually talked about before, which is kind of a wild idea is potentially they could revalue gold. That could be something that we could see, right? President Trump is coming out and talking again about this pre federal reserve time period.
And during that time, what was the United States doing? We were on the gold standard. I’m not saying we’re going back to the gold standard. I think we love credit and debt way too much to do that.
But there is a case being made today internationally that potentially there’s a conversation around revaluing gold higher, which effectively would reduce our debts significantly, especially because the United States is the largest holder of gold reserves by a mile. It’s very interesting because either way you slice it, let’s say we do cut income taxes and we do go hard on tariffs. What does… Okay.
So if the population has no obligation to pay income tax anymore, what is that a tailwind for? It’s a tailwind for inflation, right? Because now there’s more money in the hands of people. You’ve increased inflation on the demand side. With the tariffs, you see you have inflation from the supply side as well.
And then if you go the reevaluation of gold scenario, gold rises as well. In all three of those scenarios, you can expect to see a movement to the upside on the part of gold. Is that how you read it as well? Yeah, absolutely.
I mean, pretty much all the policies across the board, deportations as well, inflationary, right? All of these different moves that we’re seeing are inflationary. Now, I think that again, when we look at this debt, you kind of have to take a step back and say, what is the end game here, right? Everything has gotten so out of control. What is the end game? There’s a reason that they are always targeting inflation and that inflation is rising.
As inflation goes up, the value of your debt, the nominal amount stays the same, right? But the amount that you’re having to spend in interest, it actually goes down. So I think inflation is beneficial to the government in a lot of ways. And that’s something people often forget, right? Because we’re being told all the time we’re fighting inflation, but inflation is really helping them, especially when they’ve gotten themselves in such a pickle.
Now, inflation obviously is great for gold. Gold does really well when we look at times of uncertainty or inflation, because it is not just, I mean, it’s funny people say it’s a hedge against inflation. It’s not just a hedge.
It is true money. It is a true store of value. It’s been around since the dawn of time, right? So there’s a reason too, that we see central banks buying gold in record quantities.
It’s the exact same thing because they don’t want their wealth inflated away. And that’s why they’re moving away from the dollar towards gold. And with these tariffs coming down the pike here in about a couple of days, do you see that as a tailwind for gold and silver prices, especially gold and silver produced in Mexico and Canada, which are supposed to be on the receiving end of about what, a 25% tariff for each of those countries.
You’re seeing a lot of chatter about this from various analysts. How do you view this development when it comes to the tariffs and their interaction with precious metals? Yeah, absolutely. I think that we, I mean, I absolutely believe the prices are going to continue to go up today.
I think we’re what, $50 off of gold’s all time high on spot price. There’s a reason. And it’s funny because I talk about this too.
I know that in October, that’s when we hit gold all time high, right? Then in November, president Trump was elected. There’s a lot of optimism around the economy. And because of that, we started to see gold prices, you know, okay, maybe things are going to be good.
You know, maybe I can move into riskier assets, but now we’re seeing gold go up. Why is that? The same thing happened in 2016 when president Trump was elected, gold had a drop off. And then in January, February, we started to see it go up and it went up significantly.
Today is much different than 2016. I expect we’re going to see it go up far greater because of all the things that are happening today. We have far more debt.
We have these tariffs coming in. We have all these inflationary policies. The world is on fire in a way that it wasn’t, you know, eight years ago.
Things are all pointing towards moving towards a safe haven asset and something that’s going to protect us from all of these things that are coming in the future. So yes, if you ask me, absolutely, I believe that we’re going to see these prices continue to go up in a very significant way. Yeah, if you peel back the onion, when it comes to this gold spike over the last year or so, you’ll notice that, I mean, it’s no surprise, I mean, it’s almost gone trite at this point, that central banks are the ones buying it, right? Yes.
Is the American retail market kind of a lost cause in terms of, you know, the gold market? Or should we expect more buying coming from overseas in the future? When does the American retail market wake up from buying in Trump coin and, you know, all of these other, I’ll just call them assets, loosely speaking. When does that change in your perspective? It’s a good question. I think that particularly when we talk about the American people, something has to go wrong first before a lot of people’s eyes are opened, right? Like, I’m out here trying to help people prepare before something happens.
I talk a lot about gold being your insurance policy. And an insurance policy is only good if you get it before the crisis or the accident or whatever it is you’re getting the policy for happens, right? If you get it after, it doesn’t do anything for you. So if you want a true insurance policy, you have to have it before.
But unfortunately, I think, again, particularly in America, we get distracted easily. We see shiny new things. We see things going up forever.
Do I think that that will change? Yes. But unfortunately, for a lot of people, I think it’s going to happen after, again, the bottom falls out after that bubble burst after there’s a lot of pain. I think that’s when people will wake up.
I think we have short term memory loss here in America, unfortunately. So I think in the short term, majority of mine, we’re going to see, of course, central banks and internationally. And I think that eventually America will pick up the pace.
I just don’t think it’s going to happen until something significant changes. If you’ve been watching my channel for a long time, then you know we talk a lot about protecting your wealth in uncertain times. And with everything happening in this day and age in the markets, bank failures, inflation, geopolitical instability, and more, you need a solid plan to safeguard your wealth and your assets.
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Yeah, it’s very interesting because we’ve been seeing this trend towards de-dollarization. But a lot of analysts also make the comment that the US is the cleanest shirt in Dirty Hamper. Sure, the value of the dollar may be dropping, but the value of every other currency is dropping even faster.
Again, very cliche. We’ve heard these takes numerous times before. But how do you see, what is the relationship between the de-dollarization process? Can we put much stock into it to what BRICS is doing with what they’re trying to do with their proposed currency, proposed settlement currency? How do you view the de-dollarization process currently underway? Does it have legs to impact the American dollar in the near term or just more of a long term thing? That is a great question and something I’m very passionate about actually.
So I’m glad you asked me this. You said it exactly right. You said de-dollarization is a process.
And I always want to be very clear about this, because when I start talking about de-dollarization or the dollar losing its global reserve currency status, there are a lot of naysayers out there. People who immediately stop me and go, whoa, whoa, whoa. The dollar is still kicking.
Everything’s fine. People have been saying this forever. It’s not going to happen.
Yada, yada, yada. Oh, the US will never default on its debt. That’s what would have to happen.
Oh, the petrodollar is not going away. What people fail to realize is that it’s not like we’re waking up tomorrow and it has changed. It is a process that is happening right now.
And what’s happening is that it’s accelerating. So we are seeing a global move away from the dollar happening at a more rapid pace. And it is a train that’s left the station.
So we’re not going to see this suddenly stop or U-turn. We know it’s coming. It’s happening right now.
BRICS is obviously a huge part of this. You know, I look at why they’re moving away from the dollar for a variety of reasons. Obviously, the number one is the United States itself, which is funny.
It sounds kind of counterintuitive. But as the US continues to print massive amounts of debt, they put their inflation on the rest of the world, right? No one wants a value, a reserve that’s declining in value. Number two, of course, is the weaponization of the dollar.
We look at what happened with Russia, and that was a really pivotal turning point for these countries, because for a long time, they felt like they’re under Uncle Sam’s thumb. But with sanctions put on Russia, it became very clear that at any time, the United States would come in and take your reserves. And it’s not even in the past.
We’ve frozen reserves that were in United States-held assets. But now we’re coming into your home and saying, no, no, no, you have dollars in your Russian central bank. We’re going to freeze those, seize those, take the profits from those.
And again, whether or not you agree with it on a moral basis or how you feel about it politically, it’s very clear that this was a pivotal turning point for these countries in saying enough is enough. As long as we hold dollar reserves as our primary global reserve currency, we are always going to have to be under the United States will. And they’re done.
They’re done with it. And I mean, personally, I don’t blame them. Do you think that some of President Trump’s policies, although they may make sense, America has taken advantage of the world, but the world’s also taken advantage of America in certain ways as well.
Some of these more hard-nosed policies that Trump is going after, does this accelerate or decelerate the process of a BRICS currency or BRICS union? Because you’re starting to see cracks between America and even Europe. You saw the back and forth between the President of Colombia and President Trump over the weekend. And I just wonder if you start seeing more of that, does that put the rest of the world in line to follow Pax Americana for an extended period of time? Or does this create an accelerationist effect, an unintended effect to accelerate even faster away from the dollar? Because it seems like President Trump is weaponizing the U.S. dollar as well as the huge U.S. consumer base to his advantage.
Yeah. If you ask me, accelerate for sure. I think that there’s a couple of things that are going to happen here.
I was recently talking about this and I said, I don’t think it’s going to slow down by any means, right? Like again, the train left the station. It’s not slowing down. It’s not turning around.
What might happen though, is that we might see some of these BRICS maneuvers happening at night under the cover of nightfall in the sense that right now there’s been a lot of noise in the news, right? We’ve been very kept up to date with all the moves that they’re doing, what they’re pursuing, how they’re engaging. And I think we might start to see a shift away from that and that they will continue to move forward. Absolutely.
But we might not hear about it every day in the news. And that would be a mistake to assume that they’re not progressing forward still. I just don’t know if they’re going to be as vocal.
We’ve seen this with different BRICS nations now accumulating gold and trying to hide how much gold they’re accumulating, right? Why would you do that? You’re doing that because you don’t want the people who you’re against to know how far you’re progressing. So I’m thinking that what we’re going to see is that it might be a perception that these hardline policies are working. But what I think is really going to happen behind the scenes is everything’s going to keep moving forward.
We just might not be hearing about the progress as often as we are today. But definitely it’s going to continue to move forward. Are you familiar with Project Enbridge? But go ahead and explain it to the audience just so in case there’s anyone who’s not.
Sure. Yeah, because this is another key point that I think a lot of people are not aware of or familiar with. So when we talk about the dollar, because again, there’s so much fun back here.
But when we talk about the dollar internationally as a global reserve currency, many Americans are surprised to find out when I try and explain this, I say, well, right now, country A and country B can’t really just trade in their currencies. And they go, what do you mean? It’s 2025. How is that possible? But no, the reason why the dollar is a global reserve currency is it’s a universally accepted currency.
And the international payment systems in place are favored to the West and they favor the dollar. So right now it’s actually very difficult for countries to trade in their own currencies. Part of what BRICS is doing is trading cross-border in their own currencies.
And they’re able to do this because of advancements in technology. So this is a huge thing, right? And what is happening now is over the last five years, they have been pursuing their own payment system called Project Enbridge with help of the BIS, the Bank for International Settlements, which essentially is like the central bank of all central banks. Right when it reached viability, this project that was going to allow all these countries to essentially bypass the dollar in their trade, which would significantly weaken the dollar, the BIS backed out.
Oh, we actually don’t want any part of this. We can’t be involved in this because Russia’s involved in it and there’s sanctions on Russia. Give me a break.
Come on. You mean to tell me you’re working on this project for five years and it just dawned on you right when it’s viable? Obviously, there were backroom discussions happening. Obviously, once again, Uncle Sam came in and cracked the whip and said, no, no, no, not on my watch.
And these countries, this is exactly why they’re doing this. Once again, they were stopped. Why? Why shouldn’t they have their own payment system, too? There’s no reason other than it’s a threat to the United States.
But what I explain to people is they say, OK, well, the project’s dead. No, the project’s not dead. It’s going to be called something else.
Might not be released as quickly as it was originally, but the technology is there and you cannot stop it. Any time in our history, we’ve seen new technology. Sorry, do you? Can I keep going? I have another.
OK, perfect. Once I get wound up on these things, I just tend to go. An analogy I use for my friends to look at what happened in the early 2000s when Napster came on the scene.
Digital downloads. Right. Everyone was so excited about digital downloads.
What did the entertainment industry do? Oh, my God. No, because it’s a threat to their profit. Right.
To their bottom line. Absolutely not. Kabash digital downloads.
Never going to work. Never going to happen. Well, of course, they might have won the battle, but not the war.
Right. Maybe they shut down Napster. Maybe that goes away.
But what happened to digital downloads? The technology was there. The want and the need to use it was discovered and unlocked. And you’re never putting that back in Pandora’s box once it’s out.
The same thing. And now we can’t imagine the world right without digital downloads. It became every part of our everyday life.
Yeah. And so it’s the same thing here. The technology for cross-border payments with a new payment system, with the advent of CBDCs, these countries know this technology is here.
They want it bad. And one way or another, the United States might have won this battle, but they’re not winning the war. It is coming with or without the BIS, with or without the United States.
I truly believe these countries are going to progress and it’s going to continue to accelerate the dollar’s decline. Yeah. A trend in motion tends to stay in motion, I guess, until it doesn’t.
But this one seems to be just getting started here. What do you make, speaking of currencies and dollar replacements, what do you make of President Trump’s idea of a Bitcoin reserve? And what do you make of Bitcoin in general? Is Bitcoin really digital gold or why? What’s your view on this? It’s a tricky one for me because I love innovation and I love diversification. And I think that there are definitely some exciting things about Bitcoin.
Do I think it’s digital gold? No, I think there is no, I mean, there’s no substitute for the real thing, right? The same way I talk about different versions or investing in gold versus tangible gold and silver. You are never really going to truly be in control of those assets unless you hold them, you own them. With Bitcoin, I completely understand it’s decentralized, right? That there’s a finite amount, but there’s still a lot we don’t know, particularly for me.
Some concerns I have, again, are advancements in technology. If we look at supercomputers, if we look at BlackRock getting involved in Bitcoin, that’s a really interesting one that’s been in the news the last couple of weeks too, as they accumulate more and more Bitcoin, right? And their subsidiaries accumulate more and more Bitcoin. What happens when they own a majority? I know that forks in the past have failed.
And I understand that people point to that and say, see, it can never happen. It will never happen. But the lifespan of Bitcoin is still relatively short and new.
And again, especially against an evolving backdrop of technology. And I think for me, it’s concerning when you see these people in power, when you see the institutions, when you see BlackRock and whoever it might be, the government jumping in bed with Bitcoin, it kind of gives me pause because the whole reason it was created, of course, was to make sure it’s not centralized. And the closer it moves to the center, the more it gives me pause of, do I really believe that these people in power are going to continue to let it be decentralized and continue to let it have a finite… I just have some concerns about its future, if I’m being honest.
Yeah. Are you familiar with quantum computing? I would not pretend that I’m an expert. No.
Yeah. So it’s effectively a way to, I mean, a deciphering, I mean, to put it very simply, a very high performance way of deciphering cryptography. And as we all know, your key, Bitcoin is where the term crypto comes from.
And so with quantum computing down the line, once we get a handle on that, people’s encrypted messages, people’s encrypted passwords, everything goes up for grabs because now there’s this computing technology that’s able to unravel all of that because you’re not just dealing with ones and zeros, you’re dealing with, it’s able to compute in a way that is able to take into account both ones and zeros at the same time. So it’s exponentially faster at decrypting. And I think this could be one of the technological headwinds that Bitcoin might face in the future, in the next 10 or so years, once quantum computing comes down the pike and people may not want to hold onto Bitcoin knowing that their passwords could get hijacked.
Yeah. And I think you hit it right on the head there in terms of the technological advancements. But with gold, however, I’m sure it’s physical.
You’ve got to carry it around with you if you want to travel and things like that. But who is the kind of person that should own gold and silver? And if they do exist, who is the type of person that shouldn’t own gold and silver in your view? That’s interesting. I’ve never thought about anyone not owning it because I believe everyone should own it.
I think that, again, everyone should own it. Again, I think that if you, let’s say, have a ton of debt and you have no income and you have no… Of course, everyone’s situation is different, right? Depending on who you are out there. But for most people, when I look at it, I think this isn’t some crazy idea.
Anyone will tell you, again, diversify and make sure you’re prepared and don’t put all your eggs in one basket. And when I look at gold and silver, I view it again as my insurance policy and my way to protect myself against all of these cracks in the system that we know are coming. They both have their own way of protecting both gold and silver.
But gold in particular, again, has been a store of value since the dawn of time. So we know we don’t have to worry about all the things you were just mentioning, all the things I was just mentioning when it comes to Bitcoin or the stock market. Not to say that there’s not profit to be made in those things.
Of course, I’m all for people making profit, but at the same time, we know that everything that goes up eventually has to come down. Whereas gold, if you hold it, you own it. No one can take it away from you.
No one can inflate it. There’s no counterparty risk, right? Those are the reasons why I believe firmly everyone should own. Do you think it’s too late to invest in gold? If you can call it invest, I mean, you call it an insurance in your case.
With the gold price hitting all time highs, what do you say to those people who are waiting for a pullback in the gold price? Is gold that kind of asset where you’re trying to hit tops and bottoms, or is it something that you kind of indiscriminately just set aside capital at the end of every month, every quarter, whatever your frequency is? I think you should always be stacking. I don’t think that’s the right way to view it. But for people who are viewing it that way, everything is relative, right? If you say something’s expensive or cheap, you have a reference point that you’re going off of.
So if you were to say, oh, gold is expensive today compared to when, right? You’re looking at some point in the past and saying it costs more today per ounce than it did at this point in the past. That being said, the reason why it costs more today than it did at some point in the past is because of all of the threats in our system that we’re seeing. If you went back and asked someone, again, 100 years ago, would you have bought more gold? Obviously, the answer is going to be yes.
If you ask someone in 100 years from today, would they have rather bought gold? Obviously, the answer is going to be yes. So is it too late? No, absolutely not. I think anyone who says that is looking at a very small picture.
And again, when I look at gold, I’m not buying gold to sell it tomorrow. I’m not buying gold today to sell it tomorrow. That’s not what I’m doing here, right? I am looking at long-term preservation of my wealth.
That’s not to say that I couldn’t be making a profit also with it because I do firmly believe it’s going to go up and go up in a significant way. But it’s not the same mentality as a lot of these short-term investments that people are hyper-focused on right now. And again, it’s not to say those are bad either.
It’s just a different way of thinking. And I think everyone should make sure that you have that peace of mind. I know I sleep easy at night, right, even with all this chaos in the world.
Right, right. And again, guys, I mean, you wouldn’t make too much of a fuss about it if your house didn’t burn down, but yet you paid your house insurance policy on time and things like that. So that’s the way I view it as well.
Anything else you want to talk about, Kelly, before we wrap, sorry, Taylor, before we wrap things up around here that we didn’t get to seemingly? I don’t think so. I mean, I know we covered a lot, and I’m sure there’s a lot more we can cover. So hopefully we’ll have the chance to dive in again on a different date as things progress.
It seems like every day there’s 20 new things to talk about, but this was awesome. And I, again, appreciate you so much for having me on. Yeah, totally.
Tell us about ITM trading and what the viewers of the channel can expect if they do decide to reach out to ITM, the strategy sessions, how ITM can help people better figure out what works for them. Because there’s no one size fit all. Just because in your case, you may want to have a higher allocation of gold relative to silver doesn’t mean that someone else might.
So explain to us what are some of the things that the audience can expect by reaching out to ITM. Definitely. I would say what I love so much about ITM is that our core mission and value is education, right? Anyone can go out there tomorrow and buy gold and silver, but it depends on why you’re buying it, right? What are you concerned about? What are your goals? Because not all gold and silver is the same, right? There’s a lot to learn, especially if you’re new.
Or even if you think you know, it’s always good to get a second opinion. So the way that ITM works is we work with people on a strategy. Like you said, it’s not one size fits all.
So making sure again that we understand your situation, what your goals are, what you’re concerned about, and then how to get a strategy in place so that you’re protected against what’s coming next. So everything we do, it’s really important to our mission to make sure that we are growing this community so that we can all learn and grow together. That it’s not just transactional, right? Everything we do is really trying to help build people up.
One thing to lose is by setting up a strategy session. Check it out. Link is down below.
Taylor, it’s been a pleasure having you on. Thank you so much. Do you have any socials that you want to give out or anything like that where people can see more and hear more of you? Yeah, absolutely.
So as you mentioned, ITM Trading on YouTube, you can find more of my content there. And then you can also follow me on X at TaylorKennyITM. Awesome.
Well, if you guys enjoyed this video, be sure to give us a like and write go Taylor, go in the comment section. If you disagreed with anything, however, do let me know. I do read the comments.
So really interested to get your takes here, guys. Subscribe to the channel so you don’t miss an episode and also check us out on Substack, CapitalCosm.Substack.com where you can get early access to all these videos as well as ad-free versions and uncensored versions for those that warrant it. And with all that said, thank you guys for watching and I’ll catch you in the next episode.
Bye y’all.