Jordan Harbinger avatar

Dexa/Jordan Harbinger

Learn more
Published Aug 25, 2024

1038: Gold | Skeptical Sunday

Michael Regilio delves into the enigmatic allure of gold, tracing its vast historical relevance from ancient to modern times. He uncovers the complex evolution of the gold standard and warns of the pervasive scams that tarnish its market, weaving personal anecdotes and economic insights into an engaging narrative.
Episode Highlights
The Jordan Harbinger Show logo

Topics covered

Popular Clips

Questions from this episode

Episode Highlights

  • Coin Scams

    Gold coin scams are rampant, often preying on fears of economic instability and government overreach. explains that salespeople receive significantly higher commissions for selling collectible coins compared to gold bullion, sometimes up to 20 times more 1. These coins are marketed with misleading claims about their value and protection from government seizure. Companies even create terms like "semi-numismatic" to falsely advertise novelty coins as valuable investments 2.

    These highly motivated gold salespeople are still out there trying to get people to buy $6,000 worth of gold for $10,000 in the form of gold coins.

    ---

    The Better Business Bureau's ratings can be unreliable, as companies can buy high ratings through membership, further misleading consumers 1.

       

    Personal Stories

    Michael shares a personal encounter with a gold scammer, highlighting the tactics used to deceive potential buyers. He recounts a man trying to sell him replica gold coins by fabricating a story about finding them in a mansion 3. Despite the obvious signs that the coins were fake, the scammer persisted, even suggesting Michael could scam others with the coins 4.

    I was like, dude, I don't want your replica scam coins.

    ---

    This story underscores the lengths to which scammers will go to exploit people's trust and ignorance about gold investments.

       

    Market Impact

    Gold's allure has led to widespread hoarding, affecting the broader market and economy. Michael discusses how people have historically hoarded gold, leading to economic issues like the bullion famine in the Middle Ages 5. This hoarding behavior persists today, impacting the availability of gold in the market.

    We humans have, like, this innate attraction to gold. We want to hold onto it. In fact, people have hoarded gold for centuries.

    ---

    To combat this, measures like President Roosevelt's executive order 6102 were implemented to encourage people to release their gold back into the economy.

Related Episodes