0369 | Jeremiah Fetta

Hi, this is Jerry Fetta with WealthDynamics.com and you are listening to the podcast with EA interviews, EA interviews, episode 369.

Inspiration, transformation, success stories and the imperfect action round seven days a week. Join Mario Ficini for today's Expert Authority Effect interview. We've all wanted to grow our company and increase profits. You want to help more people and do all these different things, but what do you do with the money you already get? What do you do with the profits? What's the best way to invest them? Have you thought about this? Or are you just so concerned about the marketing and promotion, client acquisition, customer service, following up? Oh, did we get that new thing on social? Oh, there's a new feature. Let's focus all our time and energy on that. Hashtag false. We're going to be talking about building that wealth, taking those profits and doing the right things with that. And that's why I'm excited to have Jerry Fetta on today's episode. I'm going them up right after we thank our sponsor. Every business needs a book, including yours. And that's why I'm launching my new book to help you, regardless of where you think your current writing abilities are. Visit eapublishingmethodbook.com today to learn the seven steps to publish and promote your nonfiction, lead and profit generating business book in eight weeks. Once again, that's eapublishingmethodbook.com There he is, ladies and gentlemen, Jerry Fetta. Jerry, how you feeling today?

Hey, I'm feeling great. Thanks, Mario. Thanks for having me on.

I'm excited to have you here because you have not only helped thousands of people increase their wealth, achieve wealth and longevity, but you also did this before 30. And I'm just going out on a limb here. I'd say that's not typical. What say you?

I would say you're probably right. I'm an odd case in that. In that respect.

I wouldn't say. Well, I don't want to say odd because I personally think you should be the new standard because there's so many people out there and I really, truly do believe they have hearts of gold. They want to serve people. I don't want to work for someone. I want to start my own business. And they're really good at what they do. I have no doubt about that. But I have seen a lot of people who have hearts of gold. They have skill sets, they're fantastic at what they do best in the world. They have problems with the business side. It's and then if we take it a step deeper, it's the financial side. Why do you think that is? And what's the first thing that they should think about to overcome it?

Yeah, that's a great observation, and I definitely agree with that. I think the why behind that really comes down to financial literacy. It's not something we're taught in school. You mentioned, you know, people want to become entrepreneurs, we start businesses. School didn't really condition us for that. School really conditioned us to be, you know, good, good corporate workers, good employees, good at repeating information. But for example, in math class, you know, I was. I was a straight A student all the way through to about 10th grade. And in math, I realized I'm just going to keep getting more tests. They're going to keep giving me more tests if I keep getting the right answers. So I kind of lost interest in it. Right. Because I didn't know where I was going to use it. In hindsight, I think if they would have just put dollar signs in front of all the numbers, I would have been way more interested in math because everyone, even a little kid, is interested in money and allowance and these different things that happen. So I think that's the root cause. I think the solution to it is to spend time daily on financial literacy, learning about money, learning about finances. No different than you would do if you're starting a business. You got to learn how marketing works, you've got to learn how sales work, you've got to learn how HR works. And so that should be one of those areas that we insert in, just like going to the gym and we just make it a priority every day.

I think that's a great answer. And I'm smiling and laughing here because you're saying you need to learn about marketing and, you know, learn how marketing works. I think everyone knows that one. And how HR works. I'm like, well, you should. I think there's a lot of companies out there that don't. But yeah.

The point you're making is if you're not going to learn it and know how to do it well, and unless you start learning it. So where did you start learning about this stuff? And I agree with the dollar signs. I mean, I did not do well in school. I didn't love school. I was bored frequently and come to find out now it's just because it was too easy for me. But I didn't love math class. But I joke now about fig. I love figuring out profit margins and, you know, sales and, you know, how we can expand and help and reach more people, because that's really all I see it. You know, back to the people have a heart of gold. How are you going to help a thousand people, ten thousand, if you don't have the advertising budget to do so?

Yeah, and that's a great point. I think, for me, you know, I started actually probably at the very bottom of the scale as far as, like, when I was 17 years old, I was delivering pizza. I was still getting out of high school. Someone had told me, and I forget who, but someone had told me that the US dollar was not backed by gold. And I don't know why, but that for some reason that mattered to me, I was like, well, why am I going to go work the rest of my life for these little green, basically pieces of monopoly money? Right. They're not backed by anything. So that was like a moment where I remember deciding money didn't matter. And so I suffered the consequences of that decision years after. And I think that that was really what sparked me to say, okay, I'm going to be involved in this economics thing whether I decide to or not. It's kind of a mandatory participation. What do I need to do to make sure that I'm not getting beat up every time and that I'm actually in a position where I can win and succeed?

So tell me about this gold and silver. How important do you think it is to be investing in it?

I personally think it's very important. I own a gold and silver dealer, and so one of the things that personally, when I invest in it, I look at it as a store of value. And so I have this thing where I talk a lot about taking our earnings, which is currency. Right. And currency is just a medium of exchange backed by confidence, placing that into a store of value, meaning that the buying power, the purchasing power of that currency is being actually transferred. It's being converted into, typically, a tangible asset, and it's going to maintain its purchasing power and its value so that I can accumulate it until I'm ready to invest it. Right. And investing it could be marketing or hiring someone, or it could be an actual, you know, like a real estate investment or a number of different things. But if I don't have that component, the store of value, what happens, Mario, is that currency ends up, you know, buying less and less and less every year. By the time I go to use it on the investing, it doesn't do as much as it used to. Right. And so that's. That's where I really focus on gold and silver. I'm not into trading it. I'm not into speculating. I'm going to look at, okay, I'm going to grab it, I'm going to, you know, buy physical, and I'm going to hold it until I'm ready to do something with it.

On the investing now, let's break that down. And I agree 100%. I love gold and silver. I have some, my own. And I want to differentiate the difference of saying I have the bars in the coins that are actually the pure ones, not, not the, not the US Mint ones you see on TV for 20 bucks versus the speculation and trading it, as you mentioned. How would you describe the difference between those and which, which one. Why is better? Why which one is better? Whatever.

Yeah. So the main thing to look at there is what is the purpose of it, Right? So if the purpose of it is what I just described, I'm going to earn currency, I'm going to then convert it into a store value, and then I'm going to move that into an asset or an investment of some sort, then I need to look at that as, okay, that's my purpose. And so what I do with it has to line up with that purpose. When I buy physical, I'm actually buying, like you said, the real bar, you know, the real, the real round, whatever it might be. I want to make sure I'm always getting 0.999 pure. So it's not, you know, a degraded quality. It's not a collector's item. It's not something you see at 2 in the morning on TV commercials with, you know, the, the President of the United States face on it or anything like that. It's, it's for the purpose of storing value. Now trading it typically is going to be not actually buying physical. A lot of times when someone's trading gold and silver, they're doing it via digits. They're buying shares of an ETF or of a futures contract. And they don't actually have physical gold and silver. They just have digits on a screen and they can trade that back and forth. They might also do that through paper. They might buy certificates that are somehow backed by gold or silver or somehow part of a fund that owns them. And again, those don't store the value. The value has to be there. That's why you want it to be a tangible. And so what I always tell people is if I have, you know, let's pretend my phone is a gold brick. If I have a brick of gold, I have a brick of gold, right? Doesn't matter how many dollars worth it is, it's. It's still a, you know, a 1 ounce or a 10 ounce or whatever, and nothing will ever change that.

Now, how does the physical gold handle inflation in your experience? Because I know with the stock market, you said earlier, backed by confidence. Well, if that confidence is gone, everything just goes to, well, how it's been going and things change over time.

Why do you think it's important to have physical gold, especially with inflation? Because even in good times, and we've seen that in our life, we've seen that. But even in the good times, there's still this thing called inflation that continues to go up to the best of my knowledge, and isn't slowing down and will just continue to go up over time.

Yeah, excellent question. And I think where we have to start on that is really understanding what inflation is. There's two sides to inflation. One of those sides is the increase of the currency supply, meaning when more money is printed or created, you know, it's kind of like diluting a glass of like, you know, good bourbon, right? You pour water in it, the proof goes down, right? It doesn't taste as good. Or you could do that with coffee as well. We all hate weak coffee. So when you pour more of something that's valueless into something that's potent, it reduces the potency. And so with a currency increasing or expanding, that basically means that the currency buys less things. And so because of that, my sunglasses cost more than they used to, not because they're more valuable, simply because it's more dollars to buy the same unit of goods or services. So that's one side of it. The other side of it is the supply and demand factor. And that really is focusing more on, you know, the entrepreneur, the producer, the business owner. That's, that's really the emanation point of a good or a service. They might have fluctuations in supply and demand that might, you know, genuinely impact the pricing. Right? Or, you know, it could be a thing where. Where if I'm a business owner and I'm producing the good or the service, I might realize I can price myself higher in the marketplace. And so that's the other half of it. That truly is more of a real price increase versus just increasing of the currency and that currency buying less. So that's what inflation is. And I think gold and silver really do a great job of defending against that. The number one thing that I look at as an investor and what got me interested in it is gold and silver have been used as a store of value for 5 to 6,000 years. Meaning that for the last 5, 6,000 years it's been real money. And in the last 5 to 6,000 years, every single other form of money or currency that mankind has come up with has failed. Every single one of them except gold and silver. So it's always going to be there. It does tend to have a long term adjustment as inflation happens. You'll see the price of gold coming up with it. And it's not immediate because it's not a paper asset. Right there's traveling around that gold and silver has to do, it has to be shipped, stored, it has to be refined versus a stock. As you mentioned, companies can just issue stock out of thin air. There's no process to this. Paperwork, paperwork and digits, and it can happen immediately.

So with, with, with that gold bar I'm thinking of, where's the best place you should keep it? Do you, do you recommend keeping these in your house, your business, or like a security box, or dealing with a company that takes care of all that for you?

That's a great question. You know, I do a little bit of both. If it's, if it's small amounts, I might keep that, you know, on my house or I might keep that in my apartment. If you're keeping it, you know, on your person, like in your house, your apartment, you either want, you want one of two kinds of safes. You either want a diversion safe. And a diversion safe is a safe that doesn't look like a safe. It looks like a book or a bottle of Ajax cleaner or some Barbasol hairspray. And so the statistic is when a criminal comes in and robs the house, they're usually in there for about 10 minutes and they're not shaking the Barbasol can, right? They're not like, I wonder if there's gold in here. So that's a great way to go. The other way is just get a really heavy fireproof safe and if you can preferably bolt it down. So that way it's just inconvenient for anyone to move. If there's a fire, it's not going to melt the contents of the safe. So that's, that's the goal that I'm keeping on my person. If it's larger amounts, like we're talking tens or even hundreds of thousands, I will usually use an off site depository. And so we have groups we work with where they'll store it. They have, you know, secure confidential locations. You know, they allocate It. They're not commingling with other people. They're ensuring it. They're just leaving it there. They're not lending it out or doing anything weird with it. They're just keeping it there for safekeeping until I ask for it back.

Like a mini Fort Knox.

Yeah, it's like your own. Yeah, mini Fort Knox is a good way to put it.

Okay, so for someone getting into this. All right, let me take a step back because I really want to unpack this because this is solid stuff. And that is not a pun on gold or anything, because I know it's.

Like, could be the.

For someone wanting to get into this, is there anything other than gold and silver you recommend in addition to it?

Not for a new person. So if it's a new person, it really is. Just get, you know, generic gold and silver bullion. Make sure it's certified pure. I'm a very, very advanced investor in this space, and that's still all I do is gold and silver, I don't really get into. You can get into, you know, copper, platinum, rhodium, all sorts of different metals. There's validity to them. But at the end of the day, gold and silver really are the only ones that have, you know, truly always been used as money. And so that. That consistency is what I like about it. Although there. Although there are other. Other things you could get involved with as you maybe start to get your. Your legs beneath you as a gold and silver investor.

And so you mentioned you haven't even gotten into any other metals. So I take it you haven't done anything else like oils or any of the commodities.

You could get into Commodities. I do like oil and gas investing. For me, it's actually like investing in the wells. Right. So I want to actually be a general partner or a limited partner in the physical drilling the land and everything that is associated with that. Number one, there's some excellent tax benefits that go with that. And then number two, in a time like this, it's a great way to actually profit from the increase in gas prices. I drive an electric vehicle, so doesn't affect you. Anytime the price went up. But I own golden or I own oil and gas fields. And so I'm actually looking at this and I'm like, great. My yields are going up. Right. It's a good thing for me.

What kind do you have?

I have a Audi E Tron.

Okay.

Yep. Just actually got it. I financed it through my life insurance, and it's a great little vehicle.

Excellent. So gas and oil, as far as cars, you prefer electric, but from an investment standpoint, you think they're. You say they're valid?

Yeah, I think so. Yeah.

Okay, so thank you for expanding on that. Now, the gold and silver, which you focus on, not the other metals, how do you recommend someone get started with it if they've never done it before or they have a little bit and they just don't like the process that they're going through? Is there a set amount you recommend someone starting with or. And also, where do they do that?

Yeah, that's a great question. So I always think education predicates everything, right? So gold and silver, there's some education that I would recommend. We actually have a free course. If you just go to bullioncourse.com, you can actually go through a free certification. And it's not going to give you everything at every level, but it's going to give you. What do I need to know before I get involved? What do I need to know? The basics. And that way I understand the lingo and some of the terms that are going to be used and really what I should be focused on to. To keep myself safe as an investor so that I'm not getting involved in anything where I could get ripped off or buy fake stuff or whatever it might be?

Yeah, you want to limit your exposure.

Exactly, exactly. And education definitely does that. The second thing is get started with a small amount. Initially. You don't need to go buy $100,000 worth of gold. You can work your way up to that. Great, do that. I highly encourage it, if you're ready. But the statistic that I like to use is with the amount of gold and the amount of silver that exists today, there's only enough around for every human being in the world to own one ounce of gold and eight ounces of silver. That would be it. Right. And the reality is only about 12% of Americans own any gold at all. So I always tell people, get your one to eight, get your one ounce of gold and get your eight ounces of silver and make sure you have that to start and see where it takes you from there. For me, when I first got it, Mario, I remember holding my first bar of silver, and I could just feel the difference. I'm holding a paper dollar in one hand, I'm holding a 1 ounce bar of silver in the other. And it just connected that this is real and this is not. And I want more of this and I want less of this. And so that's. I think most people have that realization but that's a good way to do it is get your one and get your eight and then kind of go from there.

And where would you get that from?

So you can actually get that through my company, Wealth Dynamics. So if you go to our website, wealthdynamics.com, you'll be able to go to our gold and silver site and you can do that. You know, you can do that on, on a one off basis or you can put yourself on an auto subscription where if you want to be on like a forced savings plan every month you'll receive some and you can build it up that way. I like doing both. You know, I'm a big, a big believer in it and so I like to get a chunk and I like to also have it coming in every month.

Excellent. So you can do both. That's awesome.

Now this is going to be a little bit more controversial, but you were talking about the stocks and the bonds and all the paper stuff and all the, you know, whatever's out there. Let's take it a step further. What are your thoughts on Bitcoin?

I love this question, actually. So my thoughts on bitpoint Bitcoin, without being emotionally into it, one way for it or one way against it, I think an appropriate statement is that it's a speculation, right? And so for something to be an asset, in my opinion is it's got to meet at least three of the four categories. It's got to have earnings, it's got to have a track record, it's got to have intrinsic value, which means in and of itself a bar of gold or a piece of real estate is just worth something. And then it's also got to have extrinsic value, meaning other people would think it's worth something above and beyond its intrinsic value. And so for me, with bitcoin or cryptocurrency in general, it doesn't check those boxes off well enough. You know, just as a token, there's no earnings. Sure, you can do staking and all sorts of yield farming and other stuff. That's a different activity. Just buying a cryptocurrency doesn't pay me anything and so there's not earnings. Bitcoin, you could say it has some track record. It certainly is not 6,000 years, right? It's, it's maybe 10 or 12 years. It does not have any intrinsic value. Meaning if, you know, if I, if I have a bitcoin, it doesn't actually have value other than what someone else thinks it might have. And that's Speaking to extra intrinsic value. Right. So that's, that's kind of where I see it. Very high on the extrinsic value. People think it's worth something and that's why the price goes up. It is definitely one of those things where if more people sell than buy, the price will go down. If more people buy than sell, the price will go up. So that's not for me, something I'm into. But you know, I think it's a, it's definitely interesting and it's, it's definitely kind of an innovation. I think there will be uses for it as it continues to develop.

Do you think it will become mainstream in the next decade or two where it is the norm? Just like I don't even want to say paper because it's not paper dollar bills, like how that's the norm now in coins and physical tangible.

Money. Even though it might not be worth anything, do you think it will ever replace it?

I do think so, but I think unfortunately it's going to be central bank issued, which means that the actual Bitcoin or the actual Ethereum is going to be traded more and it already is treated more like a stock or more like a collector's item. Same capital gains taxes apply. So at this point it really can't be used as a method of exchange. It's more of just a digital investment. I think they're working on central bank digital currencies in China. They already have one and from what I hear it's fairly mandated then China. From what I'm hearing, you can't use other currencies at this point. They're getting rid of paper, they're getting rid of coin. And so if you're going to transact in China, you're going to use their digital currency and it comes from the central bank in China. So I think that's the direction we're heading. I think the rollout on that's probably in the next five years. It might be. We might be paper less than 10 years. Right. Which comes down to again when we talked about very first, earn in currency, save and store value, invest in assets. I don't really care what I earn in. If it's central bank digital currency, so be it. If it's corn, so be it. If it's whatever I want to earn lots of it and then I'm going to still put it into a store of value and then still put it into assets.

Now I heard you say unfortunately, centralized bank. Why unfortunately?

Oh man, that goes into a very deep rabbit Hole.

Oh, I know. I'm trying to keep a straight face here and be very.

I know what I'm doing. I purposely asked devil's advocate, but very good. You know, it's. I think it makes it more dynamic conversation because there's people on every side going, yes, no, maybe, so whatever the difference is. But why did you say unfortunately.

Yeah. So for those that don't know, the central bank for the United States of America, it's called the Federal Reserve Bank. The title of it is a complete oxymoron. It's not federal. It's actually a privately held corporation. It has no reserves, and it's not actually a bank. You and I can't go in there and deposit and get loans. Right. And so what it does is it's a private corporation. It's got private shareholders, which are other large chain banks. And so essentially it issues currency and controls interest rates without getting super down the rabbit hole. If you do research the central banks globally, because most countries do have one, they're responsible for every economic bust, every war we've ever been in famines. The American Revolution actually happened over central banking, not as we were led to believe that it was tea in taxes. So they're just not. Not a good group of guys. And so when you see that they're going to then control the issuing of the currency, the actual currency itself, in addition to the issuing of it, the interest rates, there's a lot of loss of freedom that could happen. You know, privacy. You know, there can be controls put on buying and selling. There can then be a lot of different, you know, penalties associated with, you know, incorrect behavior based on what they deem that to be. So I just don't think they should be in charge of currency, let alone what they're already doing now.

Yeah. You know, like you said, that oxymoron.

They can print whatever they want, but heaven forbid John Q. Public tries it.

Yeah. Then it's counterfeiting and we go to jail for them. It's their profession.

Yeah, it's. And the other thing is, it's surreal to think it's going. It's going on 100 years since they've been around.

Yeah, yeah. And if you look at the track record, they. They were established, I believe, in 1913, immediately after that World War I happened. So it's kind of like, you know, dad got his new gun and he's got to try it out and fire it a couple of times. And we just have all these wars and busts happening after Woodrow Wilson was actually The President, who was the US President at the time the central bank was formed and created. And he has a quote, loosely put, he basically says, I betrayed my fellow countrymen and the freedom that we have is now controlled by a small group of elites. And that's not verbatim, that's from Woodrow Wilson, the President of the United States. So on the back end, even he looked at it and was like, yeah, this was not a good idea.

Wow.

And I have to fact check myself. I thought it was over 100 years. It's 110 plus now.

Yeah, 1913 is when it was actually signed in.

I think I remember the year, but I'm kind of thrown for a loop with what's been going on the last couple losing track of time. But I'm glad you're sharing the information. And it's, it's fascinating to me because I've looked into this 10, 15, 20 years ago and it was like, wow, why did, like you said when we started the episode, why didn't they mention any of this in school? Well, I'm sure we could do a whole day discussion on that alone, so for sure. Next portion.

So from everyone you've been able to help, who would you say is your biggest success story?

Oh man, we have so many.

So I have ones that are great success stories of, you know, like I have a client, I'm actually helping him right now. This week we're doing a couple of reviews for him. He worked in the nonprofit sector three years ago, meaning he did not work for money. He did it out of, you know, like, you know, the purpose and helping others. And so when he got out of that about three years ago, you know, he was literally starting from zero. The guy didn't have a credit score, no money. Like he, just because he was so into that world. And so we've been able to in the three years and not we've been able to, he's been able to produce enough for us to show him how to do this. We've been able to get him from zero to a million dollar net worth in three years. And he's obviously, you know, he's got a business now. He really pushes on that gas pedal of income. But you know, as you said at the beginning, once you get the income, what do you do with it? And so we've been able to lay out for him the blueprints on. Okay, here's what you need to do at the million dollar net worth level. He's now what's referred to as an accredited investor and so as an accredited investor, he's able to invest in a lot of things that prior to hitting that threshold, you're not only not allowed to invest in, you're not allowed to know about them. So imagine living in a world where the curtain is pulled back and all of a sudden it's not just stocks and mutual funds and crypto, it's where the big boys play. And you would never know about it till you get to that level.

Yeah, I know the SEC has their ruling and you know, you can argue the point. It's, you know, they want to keep it here, there, everywhere. But I think their official position is, well, we don't want people that are inexperienced not knowing what they're doing, losing everything, basically gambling on one bet. And I can see truth in both of it, to be honest.

Yeah. And actually in 1933, and it was when the initial ruling came out on this, and this is in my, in my book Blueprint to Financial Freedom, I believe it was.

Kennedy's dad. In the 20s, he was the first chairman of the SEC. So FDR made him chairman of the SEC. He was a market manipulator in the 1920s. So he was somebody that would, they had no regulation. He's somebody that would talk up a stock, buy a whole bunch of it, and then he'd do the pump and dump on people. Right. And so they put him in charge of running the SEC at that point. And so he actually came up with the kind of the rule of, okay, there's the accredited, there's the non accredited. I'm sure there's plenty of lobbyists involved in this, but it basically was like, okay, the non accredited, just, you know, your mutual fund, your stock, all the publicly traded stuff, they have to report everything. Right. There's so, and I used to be in that world, there's so much compliance and oversight and regulation. And then he basically said, but the accredited, because we're not going to let John Q. Public in, we don't have to report anything. So when you do accredited investments, there's no SEC oversight. They sure, they have to tell the SEC they exist as a form of unregistered security. But the essentially there's no audit, there's no financial reporting to be done, there's no issuing, there's nothing like that. And so it was kind of a way for them to say, hey, we're going to still play in our part of the sand pool and we're still going to have privacy and we're just going to make it to where the other stuff, sure, anyone can do it, but they can't do our stuff over here in our corner because we don't want to disclose the information you're asking us to disclose. If it's public.

Seems fair.

Very interesting stuff. When you. When you. There's always a backstory, right? You dive into these things.

Yeah. It's fascinating. And I really do appreciate you sharing this with expert authority world, because where else are you going to learn if, you know, didn't learn it in school and if people aren't. I've been intentionally bringing more finance wealth gold because I think I personally feel I know my background and wasn't taught any of it till I got in business. And even in business, you spend so much time early on with sales, marketing, customer, if you even touch customer service. I always did because I love serving and giving a great experience. And I think so many people are just focused on that next customer. They never stop to go, well, Now I have 50 or 100. Well, one, if they never think about customer service, they won't get to the 50 or 100. And if they do, they just keep repeating it. They never expand out because now it's working. And it's like, if it's working, don't, you know, don't break, don't change, don't change it if it's not broken kind of deal. But it's like business is so much bigger than that. And that's why I was leading with, you know, people in business, they're good at the skill set, but they might not have any business acumen. And if they do, there's very little I found that have financial acumen to go with it. And it's like, that can make or break a business. So, truly, thank you for sharing it. I have one more question before we thank our sponsor.

All right, let's hit it.

It's the wheel of Whatever time. Yellow or black?

Go yellow.

Sweet. Actually, two more questions, because that was one of them.

Yellow.

All right. See the question?

I don't see a question.

That's because there's nothing on there. I make these up as I go along.

Okay.

So my question for you is to deal with the gold standard. Do you think we'll ever go back to it, and if so, what do you think it would change?

I don't think we ever will. I think that there's too much accountability there for the issuing of currency. So the problem with the gold standard is what I mentioned at the beginning is the creation of currency, the expansion of the monetary Supply is one of the driving factors of inflation. They're getting rid of. And when I say they, the Federal Reserve is getting rid of a lot of the statistics that make it easy for us to see that they took off. The Q2 money supply CPI is totally manipulated. And so there's a. Sorry, M1, M2 money supply CPI is manipulated. So when we bring the gold standard back now, you can say, okay, you printed off this much currency and there are this many units in existence in ratio to the number of ounces of gold that are in existence. Therefore we can see exactly what's happening. And I don't think the Fed or any central bank wants that practically. We could. And it would definitely drive the price of gold up substantially just because there's so many more people and the, the gold supply is so limited based on what we can mine and what's available. So I don't think we go back. I would love it if we did. I think that would bring a lot of sanity and it would kind of deflate some of these crazy things we see going on. But I don't think the powers at hand would, would appreciate it.

And when you say mine the gold, you mean physically dig in the dirt and find the stuff, not turn on a computer and.

Yes.

Jack up the electric bill?

Exactly. I can mine math equations on my phone all day long. No goal is going to come out of it. Right. I got to go dig. Or even at this point they're doing deep sea exploration, which is very expensive and very hard to compute for a lot of engineering that goes behind that. But you physically do have to get it out of the ground.

Yeah. And that's interesting because I know there's a whole controversy about. And when I say Bitcoin, I really mean cryptocurrency.

You know, oh, it's going to change everything. And it's like, yeah, the environment, like it's, it's horrible on all the processing. So people don't want to talk about that because it's not fun and cool and brand new. The second part to that is, do you think there's actually gold in Fort Knox anymore?

You know, I don't think that there probably is. So the statistic, there's a, there's a lot of weirdness that goes on with the treasury and the Fed with gold. Right. So when you look at the central bank balance sheets, basically it reports that the Federal Reserve bank of the United States has 80% of their reserves in gold. That comes out to about $500 billion worth of gold.

They have this agreement with the treasury where they can swap it back and forth with paper certificates. So right now the Fed holds it, but the treasury could swap it and the Fed would then have the paper, the treasury would have the gold, but now the Fed has the paper, so they could swap it back. Right. And it would just continue going back and forth. So I don't know where it's all held. I don't think it's in Fort Knox because I don't think they would tell us where all the gold is kept.

I don't tell people where I store mine. Right. So if I had half a billion dollars worth, I don't think I would openly disclose, like, hey, it's in this location.

Fair enough. Fair enough. I was really curious because that's kind of up there with the moon landing stuff. And there's people who are like, yeah, of course it is. That's where they keep it. And then there's other people that are.

Like.

Yeah, yeah, I don't think, I don't think.

And not just for privacy and security reasons, but for a myriad of others, let's say.

Yeah, I would imagine, I would imagine that the actual storage of the gold would probably relate to like Area 51 with NASA. Right. Like, maybe it's there, maybe it's not. If it is there, we're never going to find out what's in it. Right. And if it's not there, like that's probably a decoy and they keep all the other stuff somewhere else. I would make it a decoy. I would say, hey, here's where we keep all the gold. And then everyone would be focused on that. I keep it over here instead.

Very cool. Well, I appreciate the honesty and we're going to come back for some more fun right after we thank our sponsor. You've heard me say every business needs a book, including yours. And it's true. And that's why I'm launching my new book@eapublishingmethodbook.com so you can learn the seven steps to publish and promote your nonfiction lead and profit generating business book in eight weeks. But you know what, don't take my word for it. Take it from a few of my authors like Lori, I went from having.

An idea and a possibility to actually getting my book published.

Or Catherine, thank you for making my.

Mom number one best selling author.

Or Mary Alice, what he got done for me in three days regarding my book launch.

Unmanageable.

John Cody. I've worked with Mario over the phone and online and he's been very helpful in getting me where I needed to.

Go with promoting my books. Rocio, there's no way in the world I would have been able to do this with somebody else again. I've attempted it in the past. It didn't serve me. As a matter of fact, I ended up more frustrated than anything. So this has been a very seamless process. Adele, if you're looking for an amazing business coach, I highly recommend Mario Ficini or Bill Benner. I can't make a higher recommendation than to work with Mario Ficini. He has been great for me and right now I won't work with anybody else except for Mario.

Hey, their words, not mine. Visit eapublishingmethodbook.com to get your copy and I look forward to hearing your transformation as our next video success story. Once again, that's eapublishingmethodbook.com and we are back with the imperfect action round. Jerry, are you ready to take imperfect action?

I'm ready. Let's do it.

Got three questions for you. 60 second or less answers. The first one. Oh, you'll love this one. This one just clicked in my brain. I asked this all the time. What's the fastest path to the cash?

The fastest path to the cash is to exchange abundantly with other people. If you help others and serve their needs, cash will show up. Even if you do it for free at first, it's eventually going to turn into a profitable activity. And I don't think there's a shortcut around that. I think ultimately you got to exchange and help other people.

Agree 100%. Thank you for that. Number two, what is the biggest problem you see your prospects making and the fastest way for them to fix it?

The biggest problem that I see is people are in a position where they want to start improving their finances. They don't know where to start or what sequence to go in. So they grab everything. Everything. They'll either grab everything and make a big giant mess and confusion or they'll grab nothing and never start. And so the solution is take one step. And that usual step is going to be get financially literate. First. We go to school 18 years before we start our job. Why aren't we doing that with finances? So learn about money, start there and then do things in the correct sequence after.

Very good. Number three, what is the best way to maximize customer lifetime value?

Ooh, that's a good one. So I think there is not enough to be said about follow up. Right? You people, especially salespeople, they follow up like crazy. But then they get the customer and then they never talk to them again. Right. So if you have like, you know, sales, you should have a separate division for customer service. And that division shouldn't be the delivery of the customer product, it should be its own. They're all they do is service the customer. And if you do that, I think that that increases longevity and it also makes them more willing to refer people because you're in a relationship. They've never had that before.

Great answer, great answer.

You mentioned your book earlier, but with all the books I've helped publish for people, I love asking what books have made a difference in your life? I'm sure you've just read one or two in addition to yours, but tell us about yours again and give us a couple other ones you would recommend to Expert Authority World.

Yeah, so my book is Blueprint to Financial Freedom. And that's it is what the title says. It's a step by step pathway on how to build greater and greater financial freedom in life. What I love about it is it's not my stuff that I came up with. I actually researched the top 1% of wealth over the last several centuries and I looked at what are the common things they did, what are the strategies they used, what are the similarities, what are the differences and how do we do it in the right sequence. And so again the result, I have a client that essentially in the next year is probably going to be financially independent. That's four years from zero to four years financially independent, no longer trading time for money. So that's kind of what the book is about. There's so many books I've read. I think one of my very favorite books was the book by Nelson Nash. It's called Becoming youg Own Banker. And Nelson actually passed away a couple of years. Much respect to him.

The book is about how to use life insurance as your own bank as a source of borrowing and self financing. But he spun it in a way where it finally made sense to me. I'd heard of the concept before and I was kind of against it. And I read the book and it made sense. Like, okay, every dollar has a opportunity cost attached and that opportunity cost could be looked at as interest. And so if I self finance things, I can keep the interest and also avoid the interest going out towards banks. So that's one of them. Another great one. And this is not probably not your first read. Like do a couple books and then it's kind of like don't do heavy vodka as your first drink. Do A beer and a couple things first. Right? This is called the Creature from Jekyll Island. It's G. Edward Griffin and it goes into the exact detail on the Federal Reserve Bank. I read that book and I was depressed for about a week after I read it because it's like, you know, he doesn't hold back any detail and so know that there are solutions. Right. And then also make sure you read about some of those solutions probably before you dive into that book.

I have not read that one. It sounds fascinating. I was thinking maybe reading it around the holidays when I have some extra time. But also, I don't want to be depressed for a week either. But thank you for that suggestion.

You'll be like, Jerry ruined my Christmas.

Yeah.

Okay, so I'm really enjoying this. I. Where would you like people to learn more?

Yeah, so if you go to on social media, Instagram, LinkedIn, go to Jerry, feta, you know, J, E, R, R, Y, F, E, T, T, I. It's like the cheese but with two T's. And you can find me there on social media if you go to our website, wealthdynamics.com we're huge on financial literacy. There's a ton of free articles, videos, dozens of podcasts I've been on. So even if you're like, hey, I'm not ready to become a client yet, that's fine. Like just like in Costco. Eat the free samples. Like, you know, get value out of the experience and you know, from there you can grab a book, you can do whatever, but that's a great place to start.

Excellent. Well, thank you for providing so much value today. This has been a lot of fun and I appreciate it.

Absolutely. It's my pleasure. Thank you for having me on.

All right, expert authority world. We have another great episode here today. I'll see you tomorrow. Have a great day and God bless.

You're already the expert, but have you transformed your expertise into a tangible asset that will generate qualified leads while increasing profit for you 24 7? And if so, how well are you promoting it? With my new book, the Expert Authority Effect Publishing Method, I take you through my process step by step. Visit eapublishingmethodbook.com today to learn the seven steps to publish and promote your nonfiction, lead and profit generating business book in eight weeks. Visit eapublishingmethodbook.com to get started. Now, once again, that's eapublishingmethodbook.Com thanks for listening to today's episode. I would love to know what you enjoyed most from it. If you haven't done so already, I invite you to connect with me on my new LinkedIn. You can go to it directly at eainterviews.com LinkedIn Once again, that's eainterviews.com LinkedIn. Lastly, check out the full eainterviews.com site for complete show notes, the full interview video experience, links to the resources we mentioned, and more. Have a blessed day and I'll see you on the next one.