In this episode of The Same Day Podcast, Yoni Schmidt is joined by David Morgan, Founder and Publisher of The Morgan Report, to discuss the vital connection between sound money and personal freedom. They explore why honest currency underpins a healthy society, how inflation undermines both wealth and trust, and what ordinary investors can do to protect themselves in an unstable system. David also shares insights on entrepreneurship, authenticity, and why our values matter just as much as our assets.
The Vital Connection Between Sound Money and Personal Freedom With David Morgan
David Morgan is the Founder and Publisher of The Morgan Report, an investment newsletter that helps individuals build and preserve wealth through precious metals, sound economic principles, and honest money advocacy. Since its founding in 1998, The Morgan Report has become a trusted resource in the commodities and resource investment sector. He is recognized for his deep analysis and for helping investors achieve significant returns. Beyond his financial expertise, David educates others on the moral and psychological aspects of money, recently releasing the documentary Silver Sunrise, exploring money’s impact on individual well-being and freedom.
Here’s a glimpse of what you’ll learn:
- [02:28] David Morgan talks about how currency debasement erodes society and personal agency
- [05:06] How inflation acts as a hidden tax on everyone
- [07:01] How policy shifts empower corporations over true representative government
- [08:52] The top wealth protection strategies anyone can start using
- [15:00] The secret to authentic entrepreneurship that stands the test of time
- [21:44] The biggest emotional misconception about money in today’s society
- [25:36] Why investing in precious metals is a political act of resistance
- [33:48] Expert insights on how gold signals economic shifts and preserves wealth
In this episode…
Most people sense that something feels off in today’s economy, even if they can’t identify it. Prices rising and savings shrinking, the promise of financial stability seems to drift further out of reach. The underlying cause of this unease may not solely be economic; it could also be fundamentally personal. Could how individuals manage their finances significantly influence their perception of freedom?
According to David Morgan, a longtime precious metals expert and student of monetary history, the answer starts with honesty. He believes societies stay free only when their money is trustworthy, because money is ultimately a reflection of collective integrity. Drawing from centuries of economic cycles, he explains how debased currency erodes personal agency, encourages moral shortcuts, and ultimately weakens the bond between citizens and institutions. In his view, inflation functions like a hidden tax that quietly siphons away both wealth and confidence, leaving people feeling powerless even as they work harder than ever.
Resources mentioned in this episode:
- Yonatan Schmidt on LinkedIn
- Mat Zalk on LinkedIn
- Keyrenter Property Management
- Keyrenter Property Management in Tulsa | Oklahoma City | Arkansas
- Keyrenter Property Management email address: [email protected]
- David Morgan on LinkedIn
- The Morgan Report
- Silver Sunrise
- “Freedom Dies When Money Lies: Why Sound Money is the Foundation of a Free Society” by David Morgan
- “Exploring New Possibilities in Entrepreneurship” with Chip Gaberino on The Same Day Podcast
- “Revitalizing Communities Through Multi-Concept Restaurant Development” with Elliot Nelson on The Same Day Podcast
- “The Future of Financial Advising: Building Relationships Over Returns” with Morgan Martin on The Same Day Podcast
- “Cultivating Value-Driven Business Relationships and Leadership With Bob Burg” on The Same Day Podcast
- The Go-Giver: A Little Story About a Powerful Business Idea by Bob Burg and John David Mann
Quotable Moments
- “Freedom soon follows throughout history; the erosion of honest currency has marched lockstep with civil liberties.”
- “Because money is not just a medium of exchange, it is the lifeblood of voluntary action.”
- “When it’s corrupted, everything downstream begins to decay, personal agency, self-reliance, and ultimately freedom itself.”
- “You have to own your own integrity and not use any shortcuts or fast tracks.”
- “The world doesn’t need more entrepreneurs, it needs more authentic ones, those who build on truth.”
Action Steps
- Strengthen your financial literacy: Understanding how monetary systems work empowers you to make decisions rooted in clarity rather than fear.
- Build a foundation of real assets: Holding land, precious metals, or other tangible stores of value helps protect long-term purchasing power.
- Prioritize personal integrity in business: Grounding your choices in honesty cultivates trust, which is essential for sustainable success and freedom.
- Evaluate your exposure to systemic risk: Reviewing where your money is held and how it’s structured can reduce vulnerability to instability.
- Invest in developing an authentic purpose: Aligning your financial and professional life with meaningful values creates resilience, motivation, and long-term fulfillment.
Sponsor for this episode…
Keyrenter Property Management:
This episode is brought to you by Keyrenter Property Management.
Keyrenter Property Management is a full-service property management company that helps clients buy, renovate, and operate real estate assets.
The team helps clients build wealth while taking the headache out of property management.
That’s why, no matter what rental you have — single-family homes, condos, townhomes, or apartments — they can give you the management solutions you need.
To learn more about their services, go to https://keyrenterpmc.com/ or send them an email at [email protected].
Episode Transcript
Intro 00:04
Welcome to The Same Day Podcast, where we discuss driving incremental business growth and other topics related to real estate, property management and entrepreneurship. Now to the show at hand.
Yonatan Schmidt 00:20
Hi there, Yoni Schmidt here hosting today’s episode of The Same Day Podcast, where I connect with top business and real estate leaders, entrepreneurs and the likes. Past guests include Chip Gaberino, a local entrepreneur, restaurateur, Elliot Nelson, the CEO of Mcnelly’s Group, and Morgan Martin of Merrill Lynch. Today’s episode is brought to you by Keyrenter Property Management. At Keyrenter Property Management, we are a full service property management company that can help our clients buy, sell, renovate and manage.
And of course, operate real estate assets. We help our clients build wealth while taking the headache out of real estate ownership. Go to keyrenterpmc.com or email us at [email protected] for additional details.
Today I’m excited to host David Morgan, the Founder and Publisher of The Morgan Report, a leading investment newsletter that helps individuals build and preserve wealth through precious metals, honest money principles and sound economic thinking. David is a vocal advocate for sound money as a pillar of freedom, making him an essential voice in today’s complex economic climate. Welcome to the show, David, and thank you for being here.
David Morgan 01:27
Yeah, thank you very much. I appreciate your invite.
Yonatan Schmidt 01:32
David. So let’s just, you know, dive right in. Talk to us a little bit about why sound money particularly, you know, silver or gold. Why is it so central to individual freedom and national sovereignty?
David Morgan 01:45
Yeah, that’s a very good opening. And if you don’t mind, I’m just going to talk about a missive that I wrote about a month ago. And in fact, some of the sound money advocates that I’ve known for years because it’s, you know, one of the main foundations of my business have taken this and, and published it in their publications. It’s titled “Freedom Dies When Money Lies.” And it’s something that, you know, I’m pretty happy to have written.
Yonatan Schmidt 02:26
Yeah. And so you.
David Morgan 02:28
You just go a little bit further. Sorry. I had a little delay in my technical, a little technical glitch there. So there’s an old truth that we forget our apparel when money loses its integrity. Freedom soon follows.
Throughout history, the erosion of honest currency has marched lockstep. If the erosion of civil liberties connection is not coincidental, it’s causal. Because money is not just a medium of exchange, it is the lifeblood of voluntary action. When it’s corrupted, everything downstream begins to decay. Personal agency, self-reliance, and ultimately, freedom itself.
So that’s kind of a nutshell. I’ve got a lot more written we can talk about, but basically everything revolves around the monetary sphere. That’s why it’s so interested in it as a kid and of course, an adult as well, that no matter who we are, what our nationality is, what our religious beliefs money is, the way that we actually transact, communicate and interact with each other. And if it doesn’t have integrity, then what the heck is going on? And of course it did in my lifetime through August 15th, 1971, when we were on the Bretton Woods system, which was gold backed.
And after that time we have degraded the currency, not backed and printed more, so every unit becomes less valuable. And on top of that, we know from studies of the past that there’s a direct correlation between the moral decay of a society at large and the debasement of the currency. So, in other words, when the Roman Empire started on the Daenerys, that was almost pure silver. They had much higher morals, higher structure, basically a system that worked quite well for almost everyone and was more or less fair across the board. But at the end, when they had continued to debase the silver coinage, where it was mostly dross metal with a little bit of silver coating, the whole societal structure had basically crumbled.
And the ruling class that at one time was a representative government became in it for their own gain only and basically pillaged whatever was left of the Roman Empire. So that’s sort of a quick overview of where it’s been in the past and the way I see it presently.
Yonatan Schmidt 04:45
Yeah. And I definitely want to touch about monetary policy in a second. You mentioned something a moment ago. go. And you’ve also argued that inflation is a form of taxation or a hidden taxation.
Right. Can you unpack how inflation erodes the freedom beyond just, you know, economic terms?
David Morgan 05:06
Well, on economic terms, well, that goes back into the, you know, the idea of does it degrade the moral structure or our relationships with our fellow citizens? And it has to do with I think it could be almost subconscious, because if you could be conscious or unconscious, but if you know that the basic system is the ultimate lie, and the lie is every one of us, almost every one of us teaches our children or our grandchildren that you can’t get something for nothing. There’s a price to pay. You’ve got to work for it. And with that in mind, if you see the whole system is actually structured where the top elite banking elites do get something from that, they actually run the system based on keyboard entries on a computer, and create what we call money or currency with the stroke of a of a digit.
And that actually is something that we, the people have to work for. When you know that it gives you the idea or can give you the idea, well, if they can do it, I can do it. In other words, if they’re chiseling off of us and taking more and more labor and paying us less and less in real terms, then why can’t I put inferior ingredients into my candy bar and sell it the same price? So why can’t I? And it just becomes rather pervasive throughout the society, where everyone starts chiseling off of everyone else to get an advantage, rather than have honest weights and measures.
Yonatan Schmidt 06:39
Let’s let’s talk, I guess, a little bit about, you know, the Fed’s monetary policy over the last 50 years. How do you see that erosion of, I guess, like civil liberties come to come to life and to fruition, you know, based on this monetary policy over the last five decades.
David Morgan 07:01
Well, if you believe it, I believe and I believe that, you know, money is power in some degree. And if you look from the top down, if you look at the political class, a lot of them are basically bought and paid for. These are people that align with the lobbyists, and the lobbyists are the ones that influence the Congress and the senators to provide the new legislation. So from the top down, you see this idea that money has a power or control over society and and a true representative government, as I mentioned, in the early days, early days of the Roman Empire and in the founding principles of the United States, basically, the the political class was supposed to represent us. Now they represent Corporations and people don’t really understand how really important the political class truly is.
Most people believe that the politicians have a great deal of power. The most powerful man on the planet is a president of the United States. That’s absolutely complete and total hogwash. The truth is, it’s the corporations that run the legislations that pass the bills, that get the the, let’s say, tax advantages to certain entities because they have the power to control Congress, to get the legislation in their favor so that they can be more corporate farms rather than mom and pop farms. That’s one quick example, but I could go on and on, but I’m certain that you’ve got the idea and might want to expand on it.
Yonatan Schmidt 08:31
Yeah, I mean, let’s let’s expand on, you know, how can the everyday investor or what can the everyday investor do right now to protect themselves from this, from systemic risk, from these types of risks. What is it that you would say is step number one through five?
David Morgan 08:52
Well, first of all, I would say an article I wrote and I do a lot for the public, as you know. I mean, I think my main function really is as a, as an educator. And I wrote an article that the basis of all wealth comes from the land. So really grow something on the land, you mine something under the land or you build upon the land. So I’m highly favorable to the commodity sector and, and real, real assets such as real estate.
So one of the best forms of wealth for legacy wealth are really three things. One is land, two is precious metals, gold particularly. And the third is fine art, which is outside of my league and most people’s leagues, as far as you know, buying a Rembrandt or a Monet or something like that. So if you go to the first two, the Europeans have an expression never sell the mud. So we’ll put that number one, it’s land and we’ll break that maybe into one and two.
So land never sell the mud. So if your family owns a block in Berlin, the buildings that have been on that block have changed over the years. But they never burned the expressions, never sell the mud. So then if you own the land, you don’t ever give it up. You just pass it down the real property on top of it.
Where you’ve built a store like that, that gets taken down and turns into apartment complex, whatever, you get my drift. So that’s an addition on top of the land. And of course, that could be for commercial or residential purposes. And so that would be 1 in 2 threes gold. Or you could use silver as well.
Long term store of wealth. And it maintains purchasing power. In other words, the purpose of money is to have the best form of labor exchange so everyone fulfills their highest purpose and is rewarded for it in the best way. So you don’t have to barter apples for lumber or, you know, cotton for candy. You can exchange something that we all believe in.
But the primary purpose of that medium of exchange being readily recognizable is it’s also a store of value. And today’s money does not store value. It stores digits, and those digits decay over time. And that’s what the hidden tax of inflation is. So because they print more and more, we find that the value goes down and down and down.
So your your peso, your yen yuan, your euro, your US dollar becomes worth less over time and worth less over time, and it’s finally becomes worthless. And when that starts approaching that dimension, people universally wake up to the fact that. Wait a minute. I can’t afford to go. You know, my girl, I can’t afford my groceries anymore.
What’s going on here? I actually got a raise and still kept my groceries. So it’s insidious at first. And at the end of the great inflations. It usually works toward a hyperinflation where the people, as sleepy as some are, wake up to the fact.
Wait a minute, something is drastically wrong here. How come? I was having a good living? They would go on vacation and, you know, splurge now and then. And I’m making more money now than I ever have.
As far as far as the the number is concerned. But I’m poorer than I was ten years ago. There’s no doubt in my mind that I’m poorer. And this, of course, is again that hidden tax. So it’ll be one, two and three.
It’d be real estate land, improved real estate. Gold and silver. Be like three and four and fine art. I really will comment on. But I think, you know, based on, you know what a little bit I’ve learned about you, Jani.
And, you know, it’s entrepreneurship. I think the real one of the principles to me for, you know, freedom is not having to work for the man. In other words, being able to be your own boss. And that takes entrepreneurship. And not everyone is inclined that way.
But a lot of people are, and a lot of people that are inclined or think they’re inclined that way, go out and try it and find out that some succeed and some don’t. But in most cases it’s a little more difficult. It sounds great. Oh, I want to be my own boss, make my own hours and, you know, not have to answer to anybody. Well, no matter how high up the ladder you are, you’re going to answer to somebody for.
Yeah. For me, I answer to my membership. Right. And and that’s fine with me. But as far as making my own hours.
Yeah, I made my own hours. I was working like ten hour days, 6 or 7 days a week when I started. But because I was so passionate, I truly wanted to do it. The passion held me over for those exceedingly long hours and days. And of course, that’s all behind me now.
But a lot of people aren’t willing to put up with that kind of demand on themselves in order to create something that can become a means of making a living on your own or with a group or business.
Yonatan Schmidt 14:07
Yeah. What’s the saying? It takes a decade to become an overnight success.
David Morgan 14:11
Exactly. Yes.
Yonatan Schmidt 14:14
So, you know, let’s dig into entrepreneurship a little bit. You mentioned, you know, earlier when we were chatting before we started the podcast, you know, the world needs more entrepreneurs. The world does not need more entrepreneurs. It needs more authentic entrepreneurs. Can you unpack that a little bit for us?
What are you seeing? You know in your world from your point of view and, you know, dealing with a lot of people who are seeking this, you know, means of financial independence and freedom. You know, are they all entrepreneurs? Are they investing in gold and silver? And I mean, final question, I guess it is, you know, are they actually holding the gold in the silver or is this another line item in their stock portfolio?
David Morgan 15:00
Yeah, okay. There’s a lot to unpack there. And I’m going to even broaden it up a little bit. First of all, I just finished my documentary after two and a half years. It’s for free for everyone.
And it goes into the questions you just asked. Let me reflect back on that. It’s at the URL silversunrise.tv, and the subtitle of Silver Sunrise is the fear control that money has over over people. It’s breaking free of the fear and control and stress stressed that money brings a lot of people. So I would say on the entrepreneurial question that the broad reflection is purpose and service.
Now, most of my subscribers, my my paid memberships are business owners, believe it or not, I just I know that after 25 years, because of my interface with them, how many times, you know, I’ve picked up the phone and talked to them, gotten emails from them, called them back, that type of thing. Not all, but many of them are. And they built it in the hard way. As you said. You know, the overnight success after a decade of hard work.
Yeah. And they want to preserve what they’ve built. And they they understand enough to know that things aren’t working correctly. They found me by, you know, whatever an investment conference, listening to one of my podcasts or whatever. And they asked for advice.
So the but I’ll say that the reflection is the purpose and the service. So the best entrepreneurs that I have met are the people that don’t see money as the means. They see money will become will come to them. Because it’s really just a tool. Money is a tool that can be used to create things, to help others, to build a business, to give to charity, to buy a yacht, whatever it is.
But it’s a tool, really. It’s a contribution that we get from whoever we interface with. But it’s not a control mechanism. And that’s where I reemphasize what I said about the money powers. The money power is used money as a control mechanism where an entrepreneur doesn’t use it for control.
They use it really to bring what the free enterprise system is all about. It’s a win win situation. When I buy a coat from someone at the the men’s store, I think it’s more valuable for me to have that coat, then it’d have to have 175 bucks, whatever the value is. So store owner says I win because it’s more valuable for me to have the 175. And I think it’s more valuable for me to have the coat.
So we’re both winners. That’s the idea behind a true free enterprise system. The next step is legacy in the next generation, which gets into you. We talked about off air slightly, and that is how today’s leaders can restore trust and build a future rooted in sound values. What I talked about earlier about people chiseling off each other, the whole system is corrupt from the top down.
Well, that’s okay. If it’s if the system is really that way, then it’s all right if I do it too. No it’s not. It is not. You have to own.
You have to own your own integrity and not use any, you know, shortcuts or fast tracks or, you know, other The end. The end does not justify the means. The means is high integrity going to make mistakes when you make them? You correct and continue. So to repeat myself, today’s leaders can restore trust and build a future rooted in sound values.
If you have the right heart, head and hands, and if you need help, hire the right people and you might make some mistakes doing that I have. You will still press forward. And the final thought, of course, is what we talked about. And that is the world doesn’t need more entrepreneurs. It needs more authentic ones, those who build on truth and will define the next age.
And that’s sort of the underlying theme of the Silver Sunrise documentary that we have been taught collectively, especially in North America. But it’s pretty pervasive on a world basis that for us to have happiness and for us to have success, it’s something outside of us. If I get the right car or I get the right house, or I get the right job or the right way, or I write the right book, or I produce the right music. I’ll be happy. I’ll be successful.
I’ll be noted, and I’ll be appreciated. Most people lack the feeling that they’re appreciated enough. But all those things are external to you. When the real system, I would say system, the real idea is that what you have within you is what’s priceless. And your actual integrity, your authenticity, your ability to be you, your unique self.
You’re not. Some people refer to it as your higher self, your best, always and everywhere. That is what’s priceless. That is what can’t put a value on. So the reflection of success can be the fact that you have high integrity, that you’re honest, that you deal fairly with everyone and that type of thing.
So the movie kind of stresses the idea that maybe we’re worth a lot more than what we can put in our bank account. Now, coming back to your last question of physical gold. Yes, I do teach people, just like in the romance novels, the French romance novels, to actually have some gold coins and silver coins. Not that that is. It’s a money of last resort and it is outside the system.
Because if the system has a major problem, you have a counterparty risk. Whereas being from the aircraft industry some years ago, I know that all the fighter pilots have a survival kit. And when you go through survival school, they teach you a lot of things. But one of the things you get in that survival kit is a gold coin. They don’t give you $100 bill.
They don’t give you a Japanese yen. They give you a gold. Why? Because when you bail out, you have the best chance of success. If you need to evade and escape by using gold.
Everyone. Almost everyone knows gold has value.
Yonatan Schmidt 21:25
Yeah, interesting. I do want to ask about the film Silver Sunrise. You know, you explore how money psychologically impacts people in this film. What’s the most misunderstood emotional aspects of money in modern society?
David Morgan 21:44
That’s a tough one, and it’s really individual. But I’d say collectively, since I deal in that realm so much and went in pretty deep on the documentary, is it’s not enough. And that’s kind of an inside outside thing that I said, you know, it’s like, I don’t have enough. Well, I don’t have enough stuff outside of me or I don’t have enough stuff inside of me. So I was saying, are you familiar with Maslow’s hierarchy of needs?
Yonatan Schmidt 22:09
Of course I we learned it in business school.
David Morgan 22:12
Okay, great. So I want to turn it upside down, you know, in the hierarchy. And you probably have a better memory than me. But, you know, you start at the basics. You have food, water, shelter, and then you get the job.
And then as you go up the scale, you get to the point where you’re pretty well set and you can go to the higher realm and look into your self-realization or your higher self. Or that I say, now turn it upside down and teach every kid from, you know, more or less a day they’re born. I mean, from the early, early age, they’re enough in and of themselves. They are that priceless human being. I mean, when you think about really the reality of the human experience, you got to look at how you got here and you weren’t created, you were procreated, but you won the biggest race of all time.
You won the sperm race. You won out of what? I don’t know what it is. 10 million, 100 million sperm hit your mother’s egg, and now Yanni exists. Think about that.
So you’re meant to be here, and you have a purpose here. And you have value that can’t be put in in something outside of you. Because even Alexander the Great. I mean, when he died, he requested that he go to the public, you know, area with his hands open and empty, that there is nothing that you can take with you on the way out. So what really resonates is what did you contribute to society?
Yeah, it could be money. I mean, rich people can build libraries or build stadiums. And I think, you know, that’s well and good, but you can also build an idea whose time has come, or you can build, let’s say, philosophy that resonates with someone and make their life better, or a rehab center or whatever. But the point is that I think we’re looking too deeply for success. But to circle back, you know, I’m not enough and I don’t have enough.
It goes both. I’m not enough. Inside. I feel like I’m enough because I’m told I gotta have all this outside stuff to be successful. But if we turn that upside down and say, you know you are enough, you know what’s most useful?
The shovel that’s sitting on against the wall. The shovel shovel that’s being used to build, to dig the ditch. The answers are both equally useful. It’s just one isn’t being used at this time. So there’s a lot I think that needs to be really understood.
On again, overused first principles, but what the human experience really envelops because the success factor is not determined by society. It is determined by you. But we don’t teach our children that and teach them the opposite.
Yonatan Schmidt 24:47
Yeah. Interesting. In the book that go-giver they there’s, you know, they talk about the five laws of stratospheric success. I don’t know if you’ve read that book. But one of the, one of the laws is the law of authenticity.
And the best gift that you can give someone is your true authentic self. But that is a very interesting take on, on, you know, on Maslow, Maslow’s hierarchy of needs and also interesting points that you’re raising here about what we should teach our children. You call you’ve called precious metals a moral and political imperative. How do you view investing as an act of resistance or sovereignty?
David Morgan 25:36
Yeah, well, the idea really came. You have just come throughout history, and it’s been proven over and over again that the whole system is based on trust or confidence. And of course, the con man is the word for getting your confidence and swindling you. So over time, if you go back to the monetary history of the United States, for example, the they had a script that was issued by the colonies and it worked for a while. And then the Brits came in and counterfeited it and printed too many.
And basically the paper money system failed. So when the Founding Fathers wrote the Constitution, it was written that basically gold and silver would be the only acceptable. And the reason it is, is it’s a trust mechanism outside of man’s interference. It’s a piece of gold, it’s a piece of silver, and it has a certain weight and a certain purity. And as long as those remain, then everybody can trust it.
You don’t need to have a counterparty to bless it or put up, you know, a president’s picture on it, or for someone to tell you what its value is versus a different currency or any of that stuff. So it has value in and of itself, and everybody agrees to that. There’s two theories of money. One is specie money or commodity money that I just described, where everybody more or less agrees that it has value and that the value determined in each interaction, you know, the coat for the money type of thing. And then there is the legal form of money where the higher power of the society, meaning the government will mandate or decree that this is what is money and this is what you must use.
Otherwise it’s against the law. And we’re going to put you in a cage. And that, of course, is the way the money powers operate. So it usually fluctuates very broad but brush view very not inaccurate, fairly accurate, but certainly not all the intricacies that are involved. But you go from a sound money system by metallic or monometallic to a Fiat fiat failure back to a gold standard, to a fiat failure, back to a gold standard.
And that’s kind of been, again, the broad brush view of monetary history. Now it’s leaving out a lot, but it also does give you the idea that once these currencies do fail, that there’s got to be a principle that is reenacted that brings trust back into the system. This time I’m not so sure. This time, it appears with my study that the leap from a fiat system and many of my peers disagree with me. They think we will go back to, you know, gold or silver or sound money time again.
And we may. That’s certainly what history shows. But I’m more of the idea of what they’ve told us, the bankers, that they want a central bank, digital currency or some type of digital surveillance type of money system that gives them even greater control than they have now with a cashless society and the ability to only be able to use money. If you have a digital ID, which is basically your DNA, and once you have given them that, then you have the ability to do commerce. And if you don’t do that, then you’re outside of the new system.
Yonatan Schmidt 29:12
So you’re saying we shouldn’t go back to gold standard? We should have a new system here that I mean, isn’t that more restrictive? Yeah.
David Morgan 29:20
No, I’m the opposite. I’ll just interrupt you. No, I think we should go back to sound money. I mean, that’s basically we should about. But what I’m saying is, unfortunately, I don’t see us doing that.
I think we’re leaning more toward a higher control system. I mean, going back to our initial opening statements with each other about freedom and money, I mean, they go hand in hand. If you have a free money that’s determined by the public at large and you have voluntary action and you don’t, you know, it’s nobody’s business. If I paid 175 bucks for that coat or not, it’s between me and the guy that sold it to me. But why does the government have to know that?
You know, I have too much warmth, and they’re going to tax me because I got a better coat than the guy next door, so. Yeah.
Yonatan Schmidt 30:04
Got it. Yeah. Very interesting. David, tell us a little bit about what The Morgan Report is focused on right now. How can you know our listeners get involved or learn more about your work and just the general mission?
David Morgan 30:20
Yeah, the general mission statement is to teach and empower people the benefits of an honest monetary system. That’s my mission statement. The reports are free and paid. The free version. Just go to themorganreport.com and sign up for the free report. You’ll get 3 or 4 emails a week and then the paid service, you can just click on the tab and it’ll bring up a video and an explanation, kind of a sales page, if you will, about what we get. But right now we’re focused mostly on the on the precious metals. But our uranium investments are up about five fold. Our investment in a rare earth element, one of the best rare earth element companies in the United States.
I’ve known these guys for years. and it fell off. It was off about 30%, but it was more or less. Speculation. So I give them a lot of room.
It’s up a lot, about 500% as well. And I think it’s going further. We are seeing the United States government actually taking interest in buying shares into some of these critical minerals. This 1st May it’s a rumor. I’m not saying it.
Well, I’m not going to give the name people pay me for this information. So we really make money in the resource sector. It’s not just gold and silver ore that has the primary focus, but we’ve been in uranium. We’re in this one rare earth element company. We have a couple of cryptos, and a lot of it has to do over the years with battery metals, copper, cobalt, lithium, the exotics at times like platinum.
So it’s basically how to invest in the resource sector. And I wait the portfolio blue chips first top tiers Next up, small producers with exploration potential, which is the best model to make a big score and then rank speculations. But for example, the rank speculations, it’s money you can afford to lose. Whereas in the blue chips, if you bought my favorite silver streaming company, that company is up 25 fold and that’s one you can put big money in. So let’s say, for example, you put in, you have $100,000 portfolio and 25% went into that company, 25,000.
That investment will be worth 625,000. Right now it’s up 25 times, whereas silver’s only up ten times. So you can make more money in the mining sector with the right equities if you know how to choose them. If you do them on a average basis, you’re better off just buying the metal itself.
Yonatan Schmidt 32:55
Got it. Gold. Final thought here a little bit about, you know, gold which we’ve seen fluctuate over the last call it, what, two weeks, week and a half or so. You know, and I’m and looking at the chart right now I’m on Google and I’m looking at, you know, gold in the market. It was it really went up.
And then it dropped and it came back up and it dropped again. And now it’s it looks like it’s flattening, you know around 39, 6250 is what it’s showing right now.
Yonatan Schmidt 33:28
Talk to me a little bit about. Like you know, gold how it fluctuates compared to, you know, things that are happening in the world. Right. How how do those play into effect on, you know, the price of gold and what advice would you have for people who are watching it?
David Morgan 33:48
Yeah, a great question. I think the best answer is that gold is a barometer, and I contrast that with the thermometer. Thermometer tells you if it’s a hot day or a cold day or whatever, a barometer gives you kind of the weather ahead. So airmen and seamen use a lot. They look out that the barometer say, oh, pressure’s dropping.
Got a storm coming in. I’ve got to prepare, you know, maybe cancel my flight plan or fly on instruments or what have you. So gold gives you kind of a bigger look at what’s ahead for the world economy, basically. And so bear that in mind. And of course, the thought experiment is very important because people always want to know what the price of gold is.
And have I made money or have I not made money? And the truth of the matter is, it’s upside down, because an ounce of gold is the same mass anywhere in the universe. Always and everywhere. So it never changes. So what does change?
Well, the price changes. What is the price? Well, the price is how much currency has been printed versus that ounce of gold or that quarter ounce or that piece of gold, and that fluctuates, and they’re constantly printing more. So you would think that the price keeps going up day after day, but it doesn’t work that way, because the influence of the financial markets are that the dollar strong, the dollar is weak. But over the long term, gold does its job of preserving wealth, which means that an ounce of gold in Roman times will be buy the same goods and services that an ounce of gold will buy in modern times.
And over the long run, it does do that. It’s just it does fluctuate like any market where it can be undervalued, fair valued or overvalued. Right now, it’s been undervalued for probably the last 25 years, probably undervalued since we went off the gold standard of the Bretton Woods agreement. And now we’re getting into fair value territory. Probably just a touch under fair value.
So in order for gold to go the gamut meaning undervalued, fair value to overvalued, I think we’re going to get in that realm in the next probably year and a half, two years. Could go longer. But normally these markets accelerate at the end as people decide I can’t afford groceries anymore. So I discussed already and now I’ve got to do something about it. Any spare cash?
They’re going to say, you know what, I wish I could buy gold, but it’s 4000oz. I’ve got 2000 in savings. I think I’ll put that in the silver. So next time I go to the grocery store, I’ll be able to buy the same amount that I’m buying now. So that’s the purpose of it.
Yonatan Schmidt 36:38
Interesting. David, thank you so much for educating me, enlightening our listeners, educating our listeners. If people want to follow you, they can do that on LinkedIn and through The Morgan Report. Correct?
David Morgan 36:53
That’s correct.
Yonatan Schmidt 36:54
Awesome. Well, thank you so much. We appreciate your time.
David Morgan 36:59
Well, I enjoyed the discussion. I’m glad we got to be a little philosophical because I was a grandfather. Now, you know, I think about my kids and my granddaughter and, you know, I just want to build a better planet, you know? And I think it starts with, with just open discussions like this, you’re doing a great service to teach people entrepreneurship and real values. And I like what you said about authenticity.
That’s pretty much one of the main themes in my documentary. So thanks for bringing that to the fore.
Yonatan Schmidt 37:27
Love that. Yeah. Mat Zalk recorded a podcast with the author of the book, The Go-Giver, and I highly recommend reading it again, talks about the five laws of stratospheric success, and I can say it changed my life for sure.
Outro 37:44
Thanks for listening to The Same Day Podcast. Tune in to a new show each week and be sure to subscribe to get future episodes.