Thoughtful Money with Adam Taggart The World Is Suddenly Desperate For Physical Gold & Silver | Andy Schectman
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Mar 11, 2025 Andy Schectman, CEO of Miles Franklin and expert in precious metals, shares insights into the dramatic rise in gold prices, outpacing traditional investments. He notes a significant shift towards physical gold and silver, driven by declining trust in fiat currencies. The conversation touches on the implications of gold's new status as a tier one reserve asset and the importance of secure storage for these investments. Andy emphasizes personal relationships and trustworthy service as keys to success in the evolving precious metals market.
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US Gold Imports
- The US has become a net importer of gold and silver, possibly for the first time ever.
- This shift began around Trump's election win, with large amounts of gold entering the country.
LBMA Potential Default
- The London Bullion Market Association (LBMA) has extended settlement times, claiming manpower and truck shortages.
- However, this could indicate a potential default, as they're heavily short on deliverable gold and silver.
Gold as Tier-One Asset
- The Bank of International Settlements reclassified gold as a tier-one reserve asset in 2019.
- Central banks have been accumulating gold and repatriating it from the Bank of England and the New York Fed.
