Transcription
Kitco News on-site coverage [music] of the rule symposium natural resource investing is presented by Aerys Mining and welcome back to the show. I'm Jeremy Saffron live from the Rule Symposium at the beautiful Boca Ratan Resort here in Florida. Now, here's an idea that stops you cold. What if the gold price on your screen, the number all of us watch all day, told you almost nothing about whether you could actually get an ounce in your hand? My next guest has spent years arguing exactly that. That the money system itself is heading for a reset. And the real tell isn't the price at all. It's the widening gap between paper gold and the physical medal. Now, she's one of the most provocative voices in the building and also a keynote speaker here this week. Lynette Zang, good to see you.
>> Oh, it's good to see you, Jeremy. Pleasure. It is.
>> You know, I I find that when I see you at these events, it always happens on a heavy news day as well where things kind of fly.
>> Yep. But the thesis hasn't changed and and that's kind of what I wanted to get to. Uh, let's start with that idea because I think it's the most important thing that you're obviously saying. You know, you're arguing that the price on the screen can no longer guarantee you can actually get the physical medals in your hands. Unpack that for us a little bit.
>> Well, isn't that a physical reality when you go to the east and you have to pay a premium above the spot markets? But, you know, if you know a little bit of history, and it's out there, so anybody can look it up. When they created the spot gold and the spot silver markets in the 70s, they actually said, this is central bankers actually said that we intend to create a large paper market.
>> to keep people away from the physical.
>> Why? Because this is sound money and it protects your purchasing power, which is the opposite of what governments and central bankers want and other corporations. It's not just central bankers. It's it's really all corporations as witnessed in the K-shaped economy.
>> No kidding. No kidding.
>> Right. But that's changing and that's what's exciting to me because all of a sudden, and it really I think I first noticed it January of 2025 where demand and supply are beginning to matter again. And that's really what you're talking about. And and affordability actually matters again. Imagine that.
>> It's a wild to watch. And and you and I were chatting just before coming on the air. You know, a lot of people are struggling out there. They're watching this debasement trade thinking, should I go in there? Should I go in there? While the dollar is, you know, I mean, it's strong on paper right now, but I mean, you can't go to the grocery store and get the same things.
>> Well, that the grocery store is not conscious of whether or not the dollar is stronger or weaker against the Japanese yen. Right. But when you hear a strong dollar, what do you what would the normal person think that you would think it was gaining in value? It's relative to other fiat money currencies. And you know, my very favorite site is the Federal Reserve Education Department, the Fred, FR D, and just put purchasing power of the consumer dollar on there. And you can see that we just recently broke the three cent mark. And so according to the Federal Reserve, there's 029 cents left of purchasing power out of the original dollar. That's the real trend. But nobody ever bothers to look at that. And yet they feel it every single day. And you know, I think we might have done this before. I'm not really sure, but if any of your viewers take the bill out of your wallet, if you have a dollar, it's the most obvious, but this is true for any of them. It says what? Federal Reserve note. What's a note?
>> What is that?
>> It's a promise to pay.
>> Yeah.
>> And promises can be broken. And if this is corporate debt, that's what this is.
>> That's what you and I are forced to work for.
>> You know, this is this is this is interesting because that that east versus west that we're kind of seeing in the physical market. I mean, this concrete from just this week. We can bring up some examples. I mean, Hong Kong just launched its own clearing system. Singapore's building one. I mean, the East isn't just buying the metal. They're they're building the machinery to price it and to settle it. So, does that fit the shift in access and kind of control that you've been talking about or or is it just reach?
>> No. No. Absolutely. That is the shift that's happening and we're all going to feel it. And that is when it's not Wall Street that's going to tell you how much this is really worth. But I think going to the east where I mean we see that financial shift anyway this is a long-term process but we are near the end.
>> You know what this is good this is where I wanted to go to because when you say reset you know some people just look at it as a movie you know it's like out of a movie but but in plain kind of everyday terms for the people watching at home I mean what would it actually look like for a regular person their paycheck their savings the money in the bank account. Well, it's not what would it look like, it's what does it look like because that's what you see in inflation. Inflation is a constant reset of the value of the currency. And so the difference between the overnight reset and the reset that we've been experiencing since the day we were born, mind you, is just the speed. It's the same thing with well that is inflation. So, if I went into your house tonight and I just took one button and I did that every night for 30 years, yes, you're going to replace your buttons as you need them, but are you going to know I'm coming into your house every night and taking a button? But if I came in tonight and I took 98% of every button in your closet, I'm thinking you're going to really notice that tomorrow. And honestly, that is for the normal person the difference between what they are experiencing and the reset that we're talking about. And so the central bank's job is to regulate the speed of that reset so that you don't notice it or you've learn to accept it. Because the reality is is historically inflation is not a monetary phenomenon. It is a fiat, a government, a debt-based phenomenon. And Jeremy, I've been doing a lot of work and I have my presentation Friday. I'm really excited about it because I think it's the best work I've ever done. And and it's not because I think it's so good, but what I've noticed just lately is that the points that I've been trying to make, like when I do my lives, they're actually my viewers are actually coming back and saying blah blah blah. Is this what you meant? So, after oh, I don't know, let's see, 62 years, I feel like I'm finally finding my voice. But I I want to do this little lesson if it's okay with you because we're going through it now. And this is a very visible lesson. I may have even done it before when we've talked, but this is money. It's sound money that cannot be inflated away by governments or central banks because I actually counted 33 different global users of physical gold. So this is money sound money. Then they came out with this which is the gold certificate. See it's got that little gold piece there which is a claim on sound money. It's not sound money itself. It's a claim on it. And then they came out with this, which is a Federal Reserve note. And as we've already established, this is corporate debt. Now, I'm happy to send this to you, but um I came across a link from a government uh agency showing how this whole kickoff happened and how they turned sound money into corporate debt. So, I would also like to show you for 20 years these things all circulated. Every single one of these has a face value of 20 bucks and they were treated the same. They're not the same. This is money. This is a claim. This is a promise to pay. Well, if you're used to this for 20 years, you think this is just the same as this.
>> Yeah. Yeah.
>> And so when they took that away, nothing has changed. But immediate, well, not immediately, about a month after they took away the public's ability to protect themselves, they did a 69% overnight devaluation. Now, I bring that up and your viewers might be going, "Ah, well, that was so long ago." But they did it again in the 70s in the transition. And a lot of people don't realize this, but after the US took away foreign government's ability to protect themselves, there were two overnight revaluations or devaluations of the dollar. Now, what's happening today? I do not think we've had this conversation. I do not think that Bitcoin being born in January of 2009 and quantitative easing being born in March of 2009, I don't think that's a coincidence.
>> Yeah.
>> And that is a Trojan horse.
>> And so they've gotten the level of adoption. And what happened? I mean, this is just a repetition of history. This time is not different. It's the same pattern over and over and over again. So, they just legalized it in what July of 2025 with the stable coins.
>> Yeah. Well, that's what I wanted to go to because I mean, you know, this is the mechanism that you're talking about. Stable coins just hit that record of 200 or excuse me, $322 billion, up nearly a third this year with forecasts of a trillion. So, walk me in the audience through how that actually leads to that reason.
>> Oh my goodness. And let me remind you too, corporate debt, right? Corporate debt being even more money and the public being separated even more from sound money and the ability to protect themselves. But this is a ploy to create an artificial market for the dollar just like the petro dollar was, right? And therefore to recreate buyers of treasuries. So they did that and in the 60s and the 70s it was governments that were buying the treasuries. Now they're not buying them and there's been a run on the dollar and that run actually started in 2013. That's not something that's new but it's undercover just like it was with foreign governments recalling the gold in the 60s. Right? So they need us to be in a more controlled environment because believe it or not, this crap creates limitations just like gold used to because this is a debt instrument that does not pay or charge interest. But it is a way for you and I to hold our wealth in our pocket and they don't know what it is where it is and they've got to take that power away. How much do you think it's scaring the government knowing that people are waking up to this?
>> I don't think they're scared at all because I think they're really arrogant because after all, they've been ruling us for all of this time. And that's why it has become my mission more and more and more to get redeemable gold. That may sound outrageous to you, but redeemable gold back in the system. Even if it's a digital system, it can fit in there. It's just if I don't like what you're doing, I want to have the ability to hold sound money outside of the system. That's what gave the public the power before. That's what gives the public the power now. And I want to say one more thing.
>> of course
>> because you know what's moneyo what's the most you know there's four functions of money but the single most important function is that money is supposed to store any labor that you generate today you use the labor you generate that money it's supposed to have the same level of purchasing power tomorrow 20 years a thousand years that's fair nobody thinks said they're going to do it with this.
>> Yeah.
>> Is Bessant changed? I mean, you loves his gold has talked a little bit more about gold. That revaluation topic is coming up. You know, the bonds with Judy Shelton, that kind of thing. Any anything you can say about whether or not they can actually go into Fort Knox and see what's happening.
>> Well, they did go into Fort Knox and then they got very quiet.
>> They did go very quiet.
>> So, I'm not really sure what that means. And you know look for me I don't care if you say that it's backed I must be able to take possession of it because if I cannot Zimbabwe is a great example they are having they're on the Zim gold so they're trying to regain public confidence again but they came out with it the public didn't adopt it because it's all digital they they don't even have bills it's all digital and so they are now experiencing since they brought out the Zim gold a much higher level of inflation and they did an overnight revaluation 45%. They're not it's not backed by gold,
>> right?
>> You know, it's a lie.
>> When Tether goes to the market and becomes one of the largest
>> I would trust them more as long as it's redeemable.
>> That is my big caveat because otherwise it doesn't mean anything if you don't hold it. you don't own it. And so I want to give you this because this is in your pocket. On the left side is a silver dime pre964. On the right side is a new dime. And they are both dimes, aren't they?
>> But one has metal value and the other just has denomination face value. And you can see on there what we had to pay for that one silver dime on the particular day that we bought it,
>> right? 560 and the value with the other is 10 cents as you know. So I mean it sounds like a not a bad return uh for me. What it really did was protect your ability to purchase the same goods and services so that you are fairly paid for the labor that generated that dime no matter when you use it. And especially important, you know, when you have a child and you want to educate that child down the road, you want to have that child have opportunities. If we do not get physical redeemable gold back in the system, what do you think the chances of your child having those level of opportunities are?
>> Yeah, very well said. And this might go to my child, by the way.
>> Sure.
>> Hey, I got to ask.
>> That's why I gave you two.
>> Oh, I appreciate that. Smith will be excited. Uh, you know, you you do have talked about this before. You you've kind of said that there's a certain um aspect that there is going to be kind of a globally coordinated gold confiscation at some point.
>> I
>> I think that is a real possibility. Walk me through it, why you're convincing, but more importantly, because people hear that at home and they go, "Oh, maybe not.
>> That could never happen."
>> What would it look like?
>> Oh my gosh. Well, it would simply be that they would be demanding a patriotic duty, but they do a sweep. They're not, especially in the US, when I'm thinking about it, they're not going knocking doortodoor because people don't really hold gold anymore. But most of the gold, physical gold is held in IRA which are then held in depositories. And what I think it'll most likely look like because they do not want your push back. They do not want you to understand what is happening. So let's say that spots at $10,000 an ounce. When that happens, they will say to you, and we're going to pay you $12,000 an ounce, but what's the $10,000? That's a spot contract on Wall Street. that is not reflective of the true fundamental value of an ounce of gold. But people believe Wall Street, right?
>> I don't know why. It's just a big casino. It doesn't give you uh any true valuations and it hasn't for quite some time, but most people would be fooled by that unfortunately. You know, the president everyone kind of reaches for is, you know, 1933 when Washington made people hand over their gold u or hand it in, I guess,
>> 1971 when they were holding, they don't call it a confiscation, but I don't know, foreign governments had the gold in the US and Nixon said, "Nope, you can't have it back." Isn't that a confiscation?
>> You think we're close to that?
>> I do think so. Yes, I do. Wh why would they stop? Let you know go on that Fred. Pull up the purchasing power. Put your birthday in there. I don't care when you were born. Put your birthday in there.
>> Why would they allow you to hold your wealth at the last minute? Ah yeah, we've gotten enough. Oh yeah, we we're going to protect you. We're going to put gold back in the system. But no, you can't touch it. You can't have it. No. Why do you keep believing them? I don't believe them.
>> Yeah. Well, there and then there's that digital side, too. That that digital kind of control worry. I mean, you tie this to to the digital government, the you know, the government money. I mean, the currency in plain terms, is there a specific kind of power that you're worried about? And where's the line, you know, between real risk and fear when people are looking at this stuff? You know, I got I guess I have to ask you which stuff you're referring to because if you're talking about gold and silver physically in your possession, no fear whatsoever. I've got something where I've got 36 different people entities globally that I can sell this to and 33 different. So, no matter what, I have the broadest base of buyer. Please tell me how many areas that they and they make them gold, silver, and platinum so that you think that they have value. Tell me tell me how many different areas is this stuff used in?
>> Yeah.
>> One.
>> Yeah. I just see the monopoly money and I think it's kind of similar to that.
>> Tell me the difference between this $20 bill and this $20 bill. You agree to work for this one.
>> You've been educating people on this a long time. I mean, in the past 6 months, say since we had that little run up, things got a little bit frothy on the gold market for the price on the spot. I mean, are people coming to you more and asking more about this? You said they're waking up.
>> Well, they are definitely waking up and um actually I what I love the most is the younger people that are coming in and going, "Wait a minute. I don't like all of this stuff that's going on over here." uh but in the last 6 months with the runup because people look at the spot market and they think that that's reflective of the true value of gold but again that's used in one area and it's used for speculation and all of the money that they've printed is in the system and so what's really moving any of these markets and I don't I don't care which intangible fiat market you're talking about but spot gold and silver got momentum. So you had a flow of funds and you can see it in the ETF moves a flow of funds that pushed spot gold and silver to overvalued technically not not fundamentally but technically overvalued. And then ooh SpaceX came out there's a shiny new toy. So that flood of money went from here over to here. Oh wait what happened with the semiconductors? Oh, that flood of money left here and it's going over there. I mean, come on. 5% moves in a day, 15% moves in a day, a 1,500% moves in a month or a year. That's not investing. That is speculating. That is trading. And why would you why would you trust a volatile market that it's just a trading? It's just a pickup of this. But you know, I mean, look, the biggest bill that I have in here is also from Zimbabwe. 10 trillion. I'm a trillionaire, but I can't even buy one egg with this. But people get blinded by numbers. So, we now have the first trillionaire in the world. My favorite, one of my favorite movies is called Gabriel Over the White House. And it was, oh, you have to watch this movie. It was uh it came out in 1933 and it's about a president who's really kind of a gad about and he goes out and parties and all of this and he gets into a car accident and Gabriel the archangel comes down while he's in a coma and makes him a better man and a better president. And so at some point in his travels, he's talking to all of these foreign heads of government. Now, this is after World War I and before World War II, right? So, we have to think about the context. And he's in there and he's saying, "Mr. French President, you owe the US $1,000 million." Wait, what's $1,000 million? That's billions. They didn't use the term billions in commonality in the early part of this kickoff. And yet now, do you think Elon Musk is the only trillionaire that's going to be?
>> So, how much wealth is being transferred right now?
>> All of it. If we only have and let let's assume that they're not lying about this or juggling the formulas. I'm going to do a little more work on that one. But officially, out of that 100 pennies, you have 029 left. That's all wealth transfer from the many to the few
>> and it's disgusting and it is not okay with me and it's especially not okay for the future of my grandchildren and their children etc. And so I feel like we have a huge obligation for the future and to leave this place a better place.
>> You and I were chatting before coming on camera just talking about you know the fact that we say hyperinflation but you can actually feel it. So talk to me about what it means going to the grocery store, you know, what what that is all about.
>> Well, and every time you go to the grocery store, prices are noticeably higher, right? That is rapid inflation. That's what also loses the rest of the consumer confidence, the public's confidence.
>> But I thought we were only 4.2%.
>> Well, I don't think that's true. But even at 4.2%, 2%. Are your salaries going up at 4 4.2%.
>> Exactly.
>> By design, you will never beat inflation on a normal wage,
>> right? They force you out on the risk spectrum and then so how do you go out on the risk risk spectrum? Oh, you work and you have a 401k and so you give a money manager that money to work with, but no matter what happens with it, you're the one that's going to reap the rewards or suffer the consequences of the choice that this person makes on your behalf. And if they don't understand what's happening in the system, why do you trust them?
>> You know, you built your life obviously around physical metal and you own no stocks, no bonds, only the physical. Let's point that's not always been true and I don't expect it to always be true but at this point 100%. Yes.
>> Let's talk to you know the people out there who should not do maybe what you do and and where you know where could going allin on physical actually leave a person worse off.
>> Well for one thing we execute a sound money strategy. So I don't say that everybody should do what I do. You have to understand I've lived in this arena on some level my entire life. Thank you to my uncle Al and I'm going to be 72 in October. So I don't deny my experience and I am quite clear I came into the industry in 2002 when I the formulas told me that we were now entering the end phase of the currency's life cycle. So what we look at is first of all we establish what are your goals? what are you trying to accomplish and what is your current standard of living? And then we use barterable fractional gold and silver as well as cash as well as maybe even some uh some um gold backs or different things or or even digital gold like Kinesis or Glint cuz both of those are redeemable. and that we look at to secure your standard of living, make sure you can always pay your property taxes, etc. Then we look at whatever wealth you're choosing to accumulate, either maintain a 401k that you can't access or 403b, something like that. And we want to make sure that you have the appropriate balance so that if you lose access to this, because that's another big piece, right? any of those accounts, your bank account, your brokerage account, you are granted access, which also means they can take that access away from you. And some people have certainly experienced that.
>> I've seen these bonds, right? These government, not government bonds, excuse me, but I mean, Amazon just a few days ago. Oh, $200 billion to the market. I mean, I don't know if it got uh closed that quickly, but what is this new trend? I mean, it doesn't seem new, but are people understanding that it's just debt on debt on debt?
>> I think they're starting to because that particular issue wasn't as wellreceived at that as they had anticipated. And so, we've got a lot more of these new IPOs coming out, etc. And so we're going to see. But with geopolitical things changing from day to day to day, back and forth. It's like it's like we're on a bridge that's in the middle of a hurricane. And the bridge is kind of going like this. Exactly. When is it going to implode? But I do think that people are starting to recognize the debt upon debt upon debt. And I think it's quite interesting when you look at these hyperscalers that used to fund everything out of their earnings
>> and now they're going out and taking 800 billion 260 billion like that's nothing but it isn't because there's no value left in this. And that's what people need to really understand. And so those going back to those investors that are investing on your behalf for your retirement, they're buying that crap on your behalf.
>> Someone's stuck holding the bag, right?
>> Yeah. Who do you think that might be, Jeremy?
>> Every time. Uh I I got to ask you on timelines because obviously we're here at the Rick Rule Symposium. We're seeing some younger generations, some some of the same names, some of the same faces, but everyone has a different timeline. So what would be the difference between talking to somebody younger and saying if they ask you what should I do here to protect myself and what would that be to somebody maybe a little bit older that understands it a little bit timeline is shorter
>> right and it it kind of depends like you said so somebody that's really young I mean that's why we do the dime cards and we educate and I'm super happy because Rick I think is going to do a program next year for the younger generation and so I have some surprising things if he invites me back again that I would happily do because we do have to educate the younger generation, but they're not going to have as big a need for, let's say, cash. So, where you get a big differential is they can just keep stacking. Just keep accumulating. That's all. Just keep accumulating. Whereas, let's say we're talking to somebody that's retiring and let's say that they are uh using the dividends off of their stocks or their or interest off of their bonds to generate their income. Okay? Well, they got to have that income. That's going to be very different for somebody that's young. Maybe they're living at their parents or they have a job that can cover their expenses, what have you. And so it isn't that you're going to have less, but you're going to look at all of their holdings and any fixed rate debt. Well, if we do that overnight reset, you can pay that off with dollars that have in this country, but wherever you are in fiat money that has zero value, which is exactly what the governments do. So, you're following the government program. Um, somebody younger is not going to have that. And that's that same need. So all of our strategies are customized and we love working with younger people and helping them. But at that point they're just going to accumulate. Somebody that has established wealth, we need to make sure that they can always pay those property taxes even if the house is paid off cuz otherwise you lose the house, right? And we've got to keep that shelter over our head.
>> Now we saw the Petra dollar take a little hit there with the the straight of Hormuz, right? There was a little bit of wand, there was this uh some central banks that were buying became a little bit of a seller because and I find this interesting, there's always liquidity in gold.
>> Gee, why do you think it might have anything to do with the 33 global buyers?
>> Yeah.
>> And that's the thing, anything that is intangible and is in the system requires confidence and liquidity. But physical metals that is the asset,
>> right? Remember, this is the real asset, the sound money that has performed for thousands of years that governments and central banks cannot inflate away because it has the broadest base of buyer. That's why it's not rocket science. And again, I'm going to remind people, oh, it's not this one. This one, this is a claim on money, right? And this is just debt. What do you want to work for? cuz I'd rather work for money. And that's why when you say I'm all in, why do I want to keep this garbage? I know what that is. And yeah, I'm not in stocks or bonds or ETFs or any of that be or cryptos because all I can do is convert them back into this. So, how did that help me?
>> You know, in the mainstream media, and I turned it on this morning and I turned it on while I've been here, the Bloombergs of CNBC, guess what? the debasement trade is dead,
>> right?
>> Yeah.
>> What does that do to you? Does it infuriate you or is it more you just think people aren't educated enough to look it up and to find out what's really going on?
>> Um, you know what? I think this is where it's quite handy that I was the youngest of seven and nobody listened to me and that didn't matter. I learned to let it like water off a duck's back. I am on a mission in this world and it is on education and people have been so surprised that I've been handing out silver Jeremy, I go all around the world talking about sound money and handing out pieces of silver. And if I'm in a restaurant and I see a little family and I usually, if the kids are about at least like five, six, seven or older, I'll walk up to that table. I say, "Do you mind if I give your kids a gift?" And I'll give them the dime cards and I'll explain it and say, you know, here's silver, blah, blah, blah. and the parents are so interested in it, but so are the kids. So, there's a QR code on the back. This is really about creating a global movement because if we don't, governments and central banks aren't going to give up their money monopoly. Maybe they'll transition it from this system and take even more control because you always have to look at not just what do you gain, how convenient, this is so much more convenient than oh my god, this is going to pull your pants down, right? What do you lose? Because let me tell you, we lose off of a gold standard. And if you don't hold gold, you lose your freedom. At the end of the day, that's what really protects is your freedom. And what is that worth? A little bit of inconvenience.
>> Yeah.
>> Yeah. Exactly. Uh on the education front, I mean, you've been having fun. You've been talking to a lot of people. You've been doing these lives. I mean, talk to me a little bit about what you're up to and and you know, when we saw that run up to gold past 5,000 and people are starting to understand debasement a little bit more. Even I'm running into people that are saying, "Hey, I understand the debasement trade now. Is that a positive thing for the space?
>> Yes, probably yes and no. Right, when things run up, this is how they got people involved in the cryptos. They allow things run. But you've got to understand a rise in gold price is an indication of a failing currency. And if you get that, once you get that, well, frankly, you start to make different choices. So, and I can tell you for a fact because a lot of the newer strategy specialists that have not been through this before, I came into this in 2002 and I've been in these markets forever. So, I'm used to the run-ups and the rundowns. Um, and I warned them because everybody is now everybody wants to buy gold because it's going up and they want to buy silver because it's going up and I said, "You've got to train your clients properly. It is going too far too fast. If you look at any of the lives, any of the videos that I did during that period of time, it was always how far away from here's the 200 day moving average. The price action acts like a water skier if that 200 day moving average is a rudder on a boat. And there's only so far this way or that way. So above or below that can go before it's coming back to center. And 10% either way is a lot. I think silver at one point was something, don't hold me to this, but I think it was something like 90% away from the 200 day moving average when 10% is a lot and I think spot gold was something like 50 or 60% away. Don't hold me to that. It's easy enough for you to go and check.
>> It almost feels like people are treating it as they're day trading it as opposed to thinking long, you know, long term.
>> I wish that I had this chart here right now. Now, if you want some B-roll, I'll give it to you because it's a long-term chart on purchasing power versus spot gold. And so, you see where it was fixed, but you have to understand that in the kickoff to this to the release and the confiscation, they created 2 legally, right? 2.4 four times the claims against the gold. Okay. So if people went to the bank with their gold certificates and asked for the gold, well what would have happened then? So they took the gold away from the public. That was the same thing that happened in the 70s with the governments. Uh, I know that it's coming up on Friday, your keynote, and you can't give me too much away because this will air before that happens. But just tease a little bit as to what you want the audience to know most.
>> This is this is really a very blunt way of showing you history because as I'm talking about that, what you see prior to 1971 is flat because it's fixed, right?
>> All right. As the purchasing power is going down, how can that possibly happen? were on a gold standard. Well, cuz they converted a lot of corporate debt into new money. But in 1971, they created the spot market. And that's where you see it take off because they were training people, the public, to think about gold as a trade and not as money. Well, I'm telling you, you need to think about gold and silver as money and not a trade.
>> Amen to that. All right, Lynette Z, appreciate it as always. Our time always goes too fast. I don't know how it is 40 minutes, but we are going to uh we're going to do some planning. You me I got to get down to Arizona. I got to come for a visit. We got to bring the folks back home so we can see what it's all about down there. Thanks, Dad.
>> Oh, anytime.
>> I really appreciate it.
>> I do too.
>> All right, that was Lynette Zang, of course. Now, you don't have to buy the whole reset case to make the useful part with you. And here it is. Uh, in a world this volatile, the distance between the price on your screen and what you can actually get your hands on is a real thing worth thinking about. Now, that's the question she leaves you with. For all of us here at Kicko News, coming to you from the beautiful Boca Ratan Resort, where I got to tell you, it's pretty hot. We're going to be at the Rule Symposium all week long. Great guest coming up. Stick with us. Kitco News on-site coverage of the rule symposium natural resource [music] investing is presented by Aerys Mining. [music]