“It’s money without a country. Gold has that value. Any country in the world, whether you’re in Asia, the Middle East, in North America, Australia, people know what gold is.” – Patrick Yip
Connect with Patrick Yip:
LinkedIn
Facebook
Selected links and people mentioned from this episode:
APMEX
OneGold
One Gold Mobile App
Bullion Card with APMEX
Bullion Card with OneGold
COMEX
Special offer from Patrick Yip: coupon code for 50% off premiums for US Gold & Silver on OneGold.com GOLD50OFF
Connect with REIN Canada
REIN Canada
[email protected]
REIN Channel
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[02:08] Patrick introduces his next TEDM expert guest, Patrick Yip.
[03:36] Patrick & Patrick (Patrick squared) roll right into what Patrick Yip is up to in the world of precious metals and how their e-commerce business works.
[07:07] Patrick explains the process and solutions One Gold provides for people who may not wish to hold the physical asset but can purchase the title to precious metals, and store offsite. They are insured and fully backed 1:1.
[10:26] The fundamental difference between the physical ownership of precious metals and paper trading. Patrick explains a bit about how COMEX functions and how people use it.
[12:56] Patrick discusses record demands and the retail vs. wholesale world of silver.
[16:18] So, why precious metals right now anyway? Patrick starts with some history of inflation cycles through to where we are in the current one. It may take some time to resolve the current inflation situation so a cash-heavy portfolio may not be the strongest position.
[20:00] ‘The Patricks’ riff on the dollar losing its world reserve currency status, stocks, bonds, gold and silver’s value, and why you might want to have a blend to mitigate risk.
[27:08] Investment, money, insurance, or all the above? Patrick explains how he views precious metals.
[30:25] Patrick journeys back to 2008, how the financial crisis affected his portfolio (think 401K to 201K) and how that all led him to learn more about the world of precious metals and in particular, APMEX.
[33:40] Since the supply has diminished, all investors must be purchasing precious metals, mustn’t they? Perhaps not! Patrick also dives into a bit of the wholesale side and ADMEX and One Gold’s role in that space.
[39:04] In the retail space, Patrick unpacks spot pricing and premiums using the process of silver as an example to create a better understanding of the spread and what’s causing the supply chain’s current stress.
[44:37] Patrick discusses the Canadian Maple Leaf bullion coin, the change over with the passing of Queen Elizabeth, and the value of collector coins.
[47:21] Patrick gives some general guidance around bullion and collector investments. It’s important to know the purpose of why you’re buying and selling it.
[51:25] But gold can’t buy me a loaf of bread, why would I buy it? Patrick explains the intrinsic value of precious metals.
[54:12] Is gold held as a currency the way money is when we travel internationally?
[56:25] Our host Patrick, shares a story to illustrate gold’s timeless value over fiat currency.
[58:18] What peaked Patrick’s interest in precious metals was trying to find something that didn’t tank with the 2008 market crash. That led him to investigate money, government manipulation, how it works, and hard assets like gold that didn’t plummet in value.
[59:31] Central Bank Digital Currencies. Patrick and Patrick discuss that reality, government control including China’s social credit system.
[63:36] Patrick shares some further insights around precious metals, physical, and vaulted solutions plus a special offer for lis...