#175 - Apple’s Forgotten Founder: Ronald Wayne’s Secret to Tomorrow’s Money

[00:00:00] Oh, there you go! Steve Jobs, Steve Jobs, Dick, and who's this guy?

[00:00:05] Ronald Wayne.

[00:00:11] If you are an irrigation professional, old or new, who designs, installs, or maintains high-end residential, commercial, or municipal properties,

[00:00:21] and you want to use technology to improve your business, to get a leg up on your competition,

[00:00:26] even if you're an old-school irrigator from the days of hydraulic systems, this show is for you.

[00:00:35] Steve Jobs, Dick, and Steve Jobs, Dick, and Steve Jobs,

[00:00:36] Inflation is not the prices of things going up. It's the buying power of your money going down. And your savings going down.

[00:00:45] Silver, on the other hand, has got a fine and fine and fine and fine and buying power.

[00:00:50] Protect yourself against what's coming, because what's coming is a world in which you will need silver to buy everything.

[00:01:00] Welcome back to The Sprinkler Nerd Show. I'm your host, Andy Humphrey. Happy New Year!

[00:01:05] I hope you guys out there in podcast land started off your week with a bang, whatever that might mean to you.

[00:01:14] Let's just say a bang means a positive step forward in the right direction for you here in 2025.

[00:01:23] I know this week for me started off with a bang, a bang of inspiration as I attended CES, which is short for the Consumer Electronics Show in Las Vegas.

[00:01:35] This was my third time attending the conference and conference isn't the right word for it, the trade show.

[00:01:44] And it's hard to even explain the trade show because it is all over the city of Las Vegas.

[00:01:51] The two places that I spent my time was at the Venetian, all over the Venetian, lots of technology on display there, and then at the Las Vegas Convention Center.

[00:02:03] But the trade show in general is in at least six different locations throughout Las Vegas.

[00:02:10] It's just ginormous, and if I haven't mentioned this before, it's a bit like stepping into the future in many ways because oftentimes what's on display at CES are innovations that will hit the street in years to come.

[00:02:27] Could be a product that's being released right now, like the Insta360 device that I actually purchased at the show.

[00:02:37] But there are other innovations that are coming that might take five years or more to become reality.

[00:02:43] So it's just a very fun time to be surrounded by lots of other technologists, futurists, and just overall sort of positive outlook, folks with a positive outlook.

[00:02:58] This year and last year, I also took my son Drew with me.

[00:03:04] Drew is a computer science student at the University of Utah.

[00:03:08] He's a junior, and he also has a job at a startup technology company called Grid Elevated, where they are working on new software algorithms to help cities reduce energy costs based on when energy is produced and when energy is needed.

[00:03:27] And he has learned and knows all kinds of stuff like JSON code and Python and API and, and, and, and, and, and, and, and that made it really interesting for me to be with him as my son at the world's largest technology event.

[00:03:47] So my intent today is actually to tell you a story that has a couple, couple different meanings.

[00:03:56] But what, what I think for me, the moral of the story that I'm going to share with you, it's probably about 10 minutes.

[00:04:03] I did take some notes, so I'll be sort of maybe halfway reading from my notes, halfway, just kind of jibbing here.

[00:04:12] But the moral is that you never, you never know who you might meet or what opportunity is in, is in front of you.

[00:04:25] And this happened to Drew and I, and this is what this story is about.

[00:04:30] And it's kind of about keeping your eyes wide open.

[00:04:33] So I guess I'd like to start off by sort of asking you if you've ever wondered about the what ifs of a big opportunity.

[00:04:43] You know, how often do we replay scenarios in our heads?

[00:04:47] Maybe convinced we've missed our shot at something greater.

[00:04:52] And those types of questions were at the forefront of my mind recently at the Consumer Electronics Show with my son.

[00:04:59] And it's interesting because we're at different ages.

[00:05:02] Even though I am 45, my son is 21.

[00:05:07] So I would be considered probably a younger dad.

[00:05:12] We are clearly at different generations in our life.

[00:05:16] So, okay.

[00:05:18] We ended up at this after party hosted by a company called Finite.

[00:05:21] And it actually took us a bit to find the party because it was at a place called the 1923 Prohibition Bar,

[00:05:28] which is, I don't know, they call it a speakeasy, but not exactly a speakeasy.

[00:05:31] Other than it was hard to find.

[00:05:34] You kind of had to like go through this door near this elevator that was unmarked.

[00:05:40] And so that was kind of fun.

[00:05:43] And we didn't even plan on this party.

[00:05:47] We just did a little bit of research, found a party, got into the party.

[00:05:53] They just scanned our badge.

[00:05:54] We didn't have an invitation, even though they said it was, you know, exclusive invitation only.

[00:06:00] We just sort of made our way in.

[00:06:04] So, you know, we just thought it would be a good time to network, you know, meet some people, etc.

[00:06:09] So, partway through the evening, somebody kind of casually pointed out, as you heard in the intro,

[00:06:19] they casually pointed out an older gentleman, super gray old gentleman that, you know,

[00:06:26] didn't really fit the mix of who was there at the party.

[00:06:30] And it turned out to be a gentleman named Ronald Wayne.

[00:06:35] And Ronald Wayne is, or was, is, I guess both, the third co-founder of Apple.

[00:06:43] And what just, what's so interesting, again, we weren't looking for this.

[00:06:47] We didn't know he was going to be there.

[00:06:49] And my son Drew and I just kind of looked at each other and thought, what?

[00:06:53] A third co-founder?

[00:06:55] You know, we both knew about Steve Jobs and Steve Wozniak, but we had no idea there was a third co-founder.

[00:07:02] We had no idea that this guy Ronald existed.

[00:07:06] And I think that that alone is pretty amazing, that as much as Apple is in the news,

[00:07:12] and as much as we often know more about Apple than many other companies,

[00:07:18] we still don't know their kind of their true origin story.

[00:07:23] And I don't know their true origin story.

[00:07:25] So it was just interesting to meet Ronald, the third co-founder,

[00:07:32] because it really plays into the evolution of Apple and their founding story.

[00:07:40] So we definitely, we just didn't expect to meet him.

[00:07:43] And it was kind of like that chance encounter sent me down a rabbit hole of research.

[00:07:50] Because Ronald Wayne, you know, he isn't just a footnote in Apple's story.

[00:07:57] He's living, he's breathing.

[00:08:00] He is an example of how one single decision, which I'm going to share with you here,

[00:08:06] can alter a lifetime.

[00:08:08] So what I'd like to do is share with you what I learned about Ronald Wayne and his background

[00:08:15] in my research, why he left Apple, and a little bit about his current passion, which is silver.

[00:08:23] And at the end of this episode, I'll play a, I think it's about seven minutes

[00:08:30] of the conversation that I recorded there in the bar.

[00:08:34] It's not the best recording, but it's okay.

[00:08:37] And that's why I'm going to leave it to the end.

[00:08:40] So for those of you that either want to jump ahead or stick around,

[00:08:43] you can listen to that conversation.

[00:08:44] And those of you who don't have the patience to sit through some audio

[00:08:47] that's a little bit jumbled, that's okay too.

[00:08:50] All right.

[00:08:50] So here's what I learned about Ronald Wayne.

[00:08:53] I learned that he's often referred to as Apple's forgotten co-founder.

[00:08:58] When Apple was formed in 1976, he joined Steve Jobs and Steve Wozniak

[00:09:04] to shape the fledgling computer enterprise that was still a far cry

[00:09:09] from technological powerhouse we know today.

[00:09:11] At that time, Wayne was older and had a background in engineering,

[00:09:16] slot machines, and product development.

[00:09:20] So beyond Apple, Wayne's life story is filled with resilience and inventiveness.

[00:09:27] Born in Cleveland, he overcame polio at a young age,

[00:09:31] a challenge that helped him forge his determination.

[00:09:33] In 1956, he moved to New York City where he began honing his skills

[00:09:36] in mechanical design, problem solving, talents that he would later aid him

[00:09:42] in gaining multiple patents.

[00:09:44] And eventually he channeled these abilities into a wide range of products,

[00:09:48] including gaming equipment, precision instruments,

[00:09:50] and he authored a memoir, Adventures of an Apple Founder.

[00:09:55] So for Wayne, engineering has always been more than just a career.

[00:10:00] It's a calling rooted in creativity, efficiency,

[00:10:03] and hands-on approach to every problem.

[00:10:06] He helped mediate the discussions between the two younger Steves,

[00:10:12] referring to Steve Jobs and Steve Wozniak,

[00:10:15] and he played a pivotal role in those early days.

[00:10:18] Ronald even drafted the original partnership agreement

[00:10:22] and designated Apple's very first logo.

[00:10:29] Designed Apple's very first logo.

[00:10:33] But here's where the story takes a bit of a surprising turn.

[00:10:39] Remember, Ronald drafted the partnership agreement

[00:10:44] with Steve Jobs and Steve Wozniak.

[00:10:47] Ronald designed Apple's very first logo.

[00:10:51] But just 12 days after founding and drafting those formal documents,

[00:10:59] Ronald sold his 10% stake in the company for only 800 bucks.

[00:11:06] So Ronald Wayne had 10%, Steve Jobs had 45%, Steve Wozniak had 45%.

[00:11:14] And he sold his 10% stake for $800.

[00:11:20] Why would anyone do that?

[00:11:24] Well, research found that Wayne himself explained

[00:11:28] Apple was an uncertain endeavor in 1976.

[00:11:34] And doesn't that kind of make a lot of sense?

[00:11:37] 1976, no one knew what the hell a computer really was.

[00:11:41] When I say no one, I mean the everyday person and the everyday investor.

[00:11:46] This was so early, 1976.

[00:11:50] Ron thought it was an uncertain endeavor.

[00:11:55] He was the only one of the founders with personal assets,

[00:11:59] meaning he had the most to lose if Apple took on debt or failed entirely.

[00:12:05] So it sounds like he was the money investor

[00:12:08] and the other Steves were, you know, engineering, sales, marketing, etc.

[00:12:12] So he had real assets on the line to lose if the company took on debt or failed.

[00:12:17] He saw the potential, but he also saw the risk.

[00:12:20] And at that stage of his life, the risk felt too great.

[00:12:26] So he walked away.

[00:12:28] Now, we know Apple didn't fail, right?

[00:12:32] It's 2025.

[00:12:33] Apple didn't fail.

[00:12:34] In fact, it soared.

[00:12:38] Today's valuation hovers in the trillions,

[00:12:42] making it one of the most valuable companies on earth.

[00:12:46] So that original 10% stake that Wayne sold back or forfeited or surrendered,

[00:12:52] although I don't know it was either of those.

[00:12:54] I think he just sold it back,

[00:12:55] would be worth tens or hundreds of billions today.

[00:13:01] And it's hard to say, even if he sold them a year later,

[00:13:05] five years later, 10 years later, right?

[00:13:07] Only if he had kept exactly 10% without dilution to today,

[00:13:10] would it be worth that?

[00:13:11] But regardless, it would be worth an F ton of money.

[00:13:17] And so it got me thinking,

[00:13:19] how do you know if an opportunity is viable?

[00:13:26] And on what timeline will that opportunity become viable?

[00:13:30] Is this an opportunity where you need to earn an ROI on your investment

[00:13:35] in one month, one year, five years, 10 years?

[00:13:38] What if it was going to take 40 years?

[00:13:40] Would you still make the same decision, right?

[00:13:42] It's just, it's fascinating to think about.

[00:13:45] It's also fascinating to think about what opportunities have passed you by

[00:13:51] that maybe because you didn't have knowledge of the industry

[00:13:55] or knowledge of the opportunity,

[00:13:57] it passed you by, or maybe you didn't see it,

[00:13:59] your eyes were closed,

[00:14:01] that today, looking back, would have been an amazing decision.

[00:14:07] So, you know, kind of back to my encounter with Ronald Wayne.

[00:14:12] My son, Drew, and I were just simply exploring, you know, Las Vegas,

[00:14:17] hoping to see, you know, some of the next big gadgets,

[00:14:20] maybe enjoy some food, have some drinks, bet on some games.

[00:14:23] We went to the sports book to watch Notre Dame play,

[00:14:27] put down 200 bucks, won 200 bucks, just fantastic time.

[00:14:30] But we weren't expecting to meet someone like Ronald Wayne.

[00:14:36] And I would bet half the people or more in,

[00:14:41] at the Prohibition Bar that we were at,

[00:14:43] didn't know Ron was there.

[00:14:47] And it just, it's like, yeah,

[00:14:49] you could think of this as being, you know,

[00:14:51] very serpent, what am I trying to say?

[00:14:54] It could be serpent...

[00:14:57] Let's just skip that word.

[00:15:00] Serendipitous.

[00:15:00] There it is.

[00:15:01] It could be very serendipitous.

[00:15:03] Or is it not?

[00:15:05] Is it because you saw it?

[00:15:08] You were eyes wide open.

[00:15:12] Because here's the thing,

[00:15:13] we stumbled onto this moment.

[00:15:16] And I think we stumbled onto the moment by being open,

[00:15:19] being curious, wondering, looking around.

[00:15:22] We were there to meet people.

[00:15:24] We were there to, you know,

[00:15:26] get the lay of the land, see who was around.

[00:15:30] And it's just that kind of that act of being open,

[00:15:34] eyes wide open, ready to learn,

[00:15:36] hoping to find something new.

[00:15:37] Even though we didn't know what that something might be,

[00:15:41] we found something.

[00:15:43] And I think that that is just a good reminder

[00:15:46] that in many ways,

[00:15:48] there is no such thing as luck.

[00:15:53] You find your luck.

[00:15:56] And there probably is a difference

[00:15:59] between those who think they're lucky

[00:16:00] and those who think they're not

[00:16:01] because everyone is essentially the same.

[00:16:03] It's just how you find your luck.

[00:16:07] Or maybe it's that luck favors the curious.

[00:16:10] Let's stick with that.

[00:16:11] Luck favors the curious.

[00:16:12] So be curious.

[00:16:14] So, you know, like picture 100 people walking down the street.

[00:16:17] 99 might pass right by an opportunity,

[00:16:20] but the ones with eyes that are open,

[00:16:23] they see it.

[00:16:25] So let that one person at a 99 that sees the opportunity.

[00:16:29] Let that one person be you.

[00:16:30] Whether it's striking up a conversation

[00:16:32] at a random event like Drew and I did,

[00:16:35] or simply just paying closer attention

[00:16:37] to the world around you,

[00:16:39] the project around you,

[00:16:40] the client around you,

[00:16:42] your supplier around you,

[00:16:43] you never know where your luck might come knocking.

[00:16:49] I'm going to play for you the recording.

[00:16:52] What I did is I opened up the voice record app on my phone.

[00:16:56] I put my phone in my front pocket.

[00:16:58] I just let it record while Ron was chatting with us.

[00:17:01] And it's actually more like he was giving a pitch

[00:17:06] for a new book that he wrote.

[00:17:10] And I'm going to play it here in a minute.

[00:17:12] But what I did is I transcribed it

[00:17:13] and just summarized it.

[00:17:15] So I thought I would just share with you

[00:17:17] a summary of the recorded conversation.

[00:17:20] And then those that want to stick around,

[00:17:22] feel free and you can listen to it.

[00:17:23] So toward the end of our chat,

[00:17:27] Ron, and this was the part that I recorded,

[00:17:29] Ron emphasized the lessons that he drew

[00:17:31] as a 19 year old from Adam Smith's

[00:17:35] Wealth of Nations book

[00:17:36] and how the shift away from gold and silver standards

[00:17:40] has set modern economies on unstable ground.

[00:17:44] According to him,

[00:17:48] once paper money became unbackable by tangible assets,

[00:17:52] it opened the door to inflation,

[00:17:54] economic imbalance,

[00:17:56] and what he believes will be an eventual collapse

[00:18:00] of fiat currency.

[00:18:02] He's taken these insights and distilled them

[00:18:05] into a book of his own called Tomorrow's Money,

[00:18:08] where he outlines why silver may hold the key

[00:18:12] to preserving personal wealth

[00:18:15] in the uncertain times ahead.

[00:18:19] Ronald's conviction is clear

[00:18:22] or he just has no time on his hands.

[00:18:25] And this is his hobby,

[00:18:26] that gold and silver have a 4,000 year track record

[00:18:30] as a medium of exchange.

[00:18:33] And he urges people, me, you,

[00:18:36] to consider buying physical coins

[00:18:38] while they still can.

[00:18:40] He sees this as both a hedge against inflation

[00:18:43] and a return to a more stable asset-based concept of money.

[00:18:48] By doing so,

[00:18:50] Ronald believes individuals can protect themselves

[00:18:52] from the pitfalls of purely paper-based economies.

[00:18:57] For anyone interested,

[00:18:58] like I said,

[00:18:59] I will include the recorded audio

[00:19:01] from my conversation here in just a moment.

[00:19:05] And again, it's a little hard at times,

[00:19:07] but it's worth a listen.

[00:19:08] And I want to be clear

[00:19:10] that I'm not saying that Ronald is true,

[00:19:13] that anyone should buy silver.

[00:19:14] I have no effing idea.

[00:19:15] I own crypto.

[00:19:17] I have different assets in different places.

[00:19:20] And who knows?

[00:19:21] He might be right.

[00:19:22] He might be wrong.

[00:19:22] He might be crazy.

[00:19:24] He's 90 years old.

[00:19:25] There's a pretty good chance

[00:19:26] he's moderately crazy at 90,

[00:19:29] as we all likely will be.

[00:19:32] And I guess I mean that

[00:19:33] in the kindest sort of way.

[00:19:37] Thank you guys.

[00:19:39] Appreciate all of you who listen to the podcast.

[00:19:43] And as always,

[00:19:45] feel free to reach out to me anytime.

[00:19:48] Love catching up with you.

[00:19:50] You can find my contact information

[00:19:52] on sprinklernerd.com.

[00:19:54] Feel free to send me a text message,

[00:19:56] email,

[00:19:57] a DM on LinkedIn,

[00:19:59] whatever it might be.

[00:20:00] We'd love to catch up with you,

[00:20:02] learn about your business,

[00:20:03] see what's going on,

[00:20:04] see how I could help,

[00:20:05] or what you would like to hear

[00:20:07] or learn about next.

[00:20:08] And with that,

[00:20:10] I'm going to wrap this episode up

[00:20:12] with the recorded audio

[00:20:15] from our conversation with Ronald Wayne,

[00:20:19] Apple's third co-founder,

[00:20:22] known for selling his 10% share

[00:20:25] in Apple for only $800.

[00:20:30] Oh, there you go.

[00:20:32] Steve Jobs, Steve Vosnick.

[00:20:34] And who's this guy?

[00:20:35] Ronald Wayne.

[00:20:36] Ron Wayne.

[00:20:37] I have written a book

[00:20:39] called Tomorrow's Money

[00:20:41] because I didn't have one other claim to fame.

[00:20:45] When I was 19 years old,

[00:20:48] I read a book called Wolf of Nations,

[00:20:52] written by Adam Smith,

[00:20:54] and published in 1776.

[00:20:58] Adam Smith was a natural philosopher.

[00:21:02] There were natural philosophers

[00:21:04] out of the world,

[00:21:06] who were investigating all sorts of aspects

[00:21:11] of the human condition.

[00:21:13] But Adam Smith and his great

[00:21:15] were particularly interested in the nature of money.

[00:21:20] Why money be they,

[00:21:21] does it,

[00:21:21] is the love of something.

[00:21:24] Adam,

[00:21:25] and of course,

[00:21:25] as all philosophers,

[00:21:27] they argued with each other about everything.

[00:21:29] But there was one thought

[00:21:31] upon which they all agreed,

[00:21:33] and that is,

[00:21:35] any country

[00:21:36] that would go to fiat money,

[00:21:39] that is,

[00:21:40] money by the free,

[00:21:41] not willing,

[00:21:42] without substance behind it,

[00:21:44] any country that did that

[00:21:46] would suffer

[00:21:47] monetary inflation,

[00:21:50] monetary collapse,

[00:21:51] economic collapse,

[00:21:53] subcales,

[00:21:53] political collapse,

[00:21:55] or withis.

[00:21:56] The fact is,

[00:21:58] that from then to now,

[00:22:00] that prediction

[00:22:01] has never yet failed.

[00:22:04] It's true though.

[00:22:06] I read that book,

[00:22:08] as I said,

[00:22:09] when I was 19 years old.

[00:22:11] I'm probably here,

[00:22:11] that's me,

[00:22:12] we,

[00:22:13] but it didn't stick with me

[00:22:15] that much

[00:22:16] until

[00:22:18] some years later,

[00:22:20] 1968,

[00:22:22] and they recudiated

[00:22:24] the silver certificates

[00:22:25] and you put it

[00:22:26] to regain them

[00:22:26] in silver.

[00:22:28] Once that happened,

[00:22:31] everything that I had read,

[00:22:33] I don't know,

[00:22:33] it's a wolf of nature,

[00:22:35] should be just popped up

[00:22:36] and said,

[00:22:36] boy,

[00:22:36] that's it,

[00:22:37] we're in trouble.

[00:22:39] Gold and silver

[00:22:41] have been money

[00:22:41] around the world

[00:22:43] for 4,000 years

[00:22:45] and worked very successfully.

[00:22:47] So what happened?

[00:22:49] Why did they do that?

[00:22:51] Why did they take the world

[00:22:52] off the gold standards?

[00:22:55] Well,

[00:22:55] in 1944,

[00:22:57] before the war was over,

[00:23:00] all of the allied nations,

[00:23:02] 43 of them,

[00:23:03] mostly U.S.,

[00:23:04] had a convention

[00:23:06] with Bretton Woods

[00:23:07] and New Hampshire.

[00:23:09] Between,

[00:23:10] they submitted

[00:23:11] 700 representatives

[00:23:13] to this confluence

[00:23:14] at Bretton Woods,

[00:23:16] and New Hampshire.

[00:23:16] Remember the name

[00:23:17] and look it up to the shop.

[00:23:19] Who cares?

[00:23:21] At that convention,

[00:23:22] they had to deal

[00:23:23] with a problem.

[00:23:25] 1944,

[00:23:27] the war was still on

[00:23:28] and we were winning.

[00:23:30] The only problem was

[00:23:32] the World War II

[00:23:34] had been the most expensive

[00:23:36] war in Hindu history.

[00:23:38] And because of that,

[00:23:40] half these countries

[00:23:41] had gone

[00:23:41] fake law.

[00:23:43] say you had about

[00:23:45] 15%

[00:23:46] of our fighting force

[00:23:48] that we were about

[00:23:49] to lose

[00:23:50] because these countries

[00:23:51] couldn't fight

[00:23:52] the war anymore.

[00:23:53] That's it.

[00:23:54] They had that

[00:23:55] offensive

[00:23:55] Bretton Woods

[00:23:56] to decide

[00:23:57] what to do

[00:23:58] about that.

[00:23:59] And what they

[00:24:00] decided to do

[00:24:01] was to take the world

[00:24:02] off the gold scale.

[00:24:04] And that's exactly

[00:24:06] what they did.

[00:24:07] Which was the right

[00:24:08] thing to do

[00:24:09] at the time

[00:24:09] if you wanted

[00:24:10] to win World War II.

[00:24:12] But,

[00:24:13] they made a mistake.

[00:24:15] The mistake they made

[00:24:17] was not putting

[00:24:18] the sunset flaws

[00:24:19] off.

[00:24:20] Should have been

[00:24:21] so many years

[00:24:22] after the end

[00:24:23] of the war,

[00:24:24] reinstate the gold standard.

[00:24:26] They didn't do that.

[00:24:28] They left the whole world

[00:24:29] on worthless paper money

[00:24:32] from then to now.

[00:24:34] It creeps up

[00:24:35] and creeps up

[00:24:36] and creeps up

[00:24:37] until you hit

[00:24:38] the needle

[00:24:39] of the curve

[00:24:39] which is several years

[00:24:41] that are.

[00:24:41] It's now going up

[00:24:43] geometrically.

[00:24:45] I wrote a book

[00:24:46] called

[00:24:47] Tomorrow's Money

[00:24:49] which deals

[00:24:50] with this situation.

[00:24:52] It explains

[00:24:53] the origin

[00:24:54] of this sensation

[00:24:55] the evolution

[00:24:56] of where it is now

[00:24:58] where we're going

[00:25:00] and what people

[00:25:01] have to do

[00:25:02] to defend themselves

[00:25:03] against what's

[00:25:05] or not.

[00:25:06] And what they

[00:25:07] have to do

[00:25:08] is to use

[00:25:10] today's workless

[00:25:12] paper

[00:25:12] to buy

[00:25:13] tomorrow's money.

[00:25:16] Tomorrow's money?

[00:25:17] Silver coin.

[00:25:19] Is that

[00:25:19] of them?

[00:25:20] Silver coins.

[00:25:21] Ordinary

[00:25:21] gun variety

[00:25:22] dimes and quarters.

[00:25:24] And today

[00:25:25] silver dimes

[00:25:26] and quarters

[00:25:27] silver coin money

[00:25:28] is 25 to 30 times

[00:25:31] $10,000

[00:25:32] a dime worth

[00:25:33] $2.5.

[00:25:35] Now that sounds

[00:25:36] like a lot of money

[00:25:37] but here's the situation.

[00:25:40] When they took

[00:25:41] the world off

[00:25:42] the gold standard

[00:25:42] for the first time

[00:25:44] in Newland history

[00:25:45] going at silver

[00:25:47] stopped being

[00:25:48] money

[00:25:49] and they began

[00:25:51] trading

[00:25:51] in different marketplaces

[00:25:53] under different influences

[00:25:55] and that gave

[00:25:57] profound effect

[00:25:58] to the

[00:25:59] buying power

[00:26:01] relationship

[00:26:01] between silver

[00:26:02] and gold.

[00:26:04] Now that relationship

[00:26:05] would have been

[00:26:06] 16 to 1

[00:26:07] for 4,000 years.

[00:26:10] Now that 16 to 1

[00:26:12] occurred

[00:26:12] for a very basic reason.

[00:26:15] It was 16 times

[00:26:16] easier

[00:26:17] to get silver

[00:26:18] out of the ground

[00:26:19] than it was

[00:26:20] to bid gold

[00:26:21] out of the gun.

[00:26:22] And so it took

[00:26:23] 16 ounces

[00:26:24] of silver

[00:26:25] to eat

[00:26:26] bull in ounce

[00:26:27] of gold

[00:26:27] before.

[00:26:29] Well gold

[00:26:30] right after

[00:26:32] World War II

[00:26:33] banks

[00:26:34] and governments

[00:26:35] all over the world

[00:26:36] started

[00:26:36] swirling away gold

[00:26:38] and the price

[00:26:40] of gold

[00:26:40] kept going up

[00:26:41] and up

[00:26:41] and up

[00:26:42] and up

[00:26:42] and like that

[00:26:42] and was kept

[00:26:43] pace within place

[00:26:45] till today.

[00:26:47] The gold

[00:26:48] is now

[00:26:48] $2,600

[00:26:49] an ounce.

[00:26:50] Now

[00:26:51] because

[00:26:53] silver

[00:26:54] was a commodity

[00:26:55] like any other

[00:26:56] commodity

[00:26:56] it went up

[00:26:58] and up

[00:26:58] and up

[00:26:58] and up

[00:26:59] and up

[00:26:59] and up

[00:26:59] and up

[00:27:00] until 1970

[00:27:02] by 1970

[00:27:04] the price of silver

[00:27:05] had gone so high

[00:27:08] that nobody

[00:27:09] in the world

[00:27:10] was striking

[00:27:10] Silver Street

[00:27:11] car in on.

[00:27:12] The whole world

[00:27:13] was not only

[00:27:15] fiat money

[00:27:16] but fiat funds

[00:27:18] it was just sludge

[00:27:19] all over the world

[00:27:21] bigger money

[00:27:21] and slugs

[00:27:22] so what happened

[00:27:23] to silver?

[00:27:25] Well silver

[00:27:25] was the largest

[00:27:27] single demand

[00:27:28] on the world

[00:27:28] saleable market

[00:27:30] when that demand

[00:27:31] went away

[00:27:32] the price of silver

[00:27:33] flopped like a rock

[00:27:34] it went down

[00:27:36] to $3

[00:27:36] an ounce

[00:27:37] we'll compare

[00:27:39] that

[00:27:39] to $2,800

[00:27:41] it's raising

[00:27:42] zip dollars

[00:27:43] it's ratio

[00:27:44] now

[00:27:45] it's not

[00:27:46] 16 to 1

[00:27:47] it's 85 to 1

[00:27:49] silver to gold

[00:27:50] so at

[00:27:52] 25 times face

[00:27:54] this coin money

[00:27:56] is dirt cheap

[00:27:58] when the roof

[00:27:59] caves in

[00:28:00] those 85 ounces

[00:28:03] of silver

[00:28:04] that it takes

[00:28:05] today

[00:28:06] to buy

[00:28:06] an ounce

[00:28:06] of gold

[00:28:07] that 85 ounces

[00:28:09] of silver

[00:28:09] will buy

[00:28:10] 5 ounces

[00:28:11] of gold

[00:28:11] so what you can see

[00:28:13] is that

[00:28:14] $85

[00:28:14] 85 times face

[00:28:16] is going to

[00:28:17] shrink out

[00:28:18] of 16

[00:28:19] things

[00:28:19] you buy

[00:28:21] that form

[00:28:21] today

[00:28:22] and you're

[00:28:22] paying

[00:28:23] pay for money

[00:28:24] that is dropping

[00:28:25] in buying power

[00:28:26] inflation is not

[00:28:28] the prices

[00:28:28] of things going up

[00:28:30] it's the buying

[00:28:31] power of the money

[00:28:32] going down

[00:28:33] and your savings

[00:28:34] going down

[00:28:36] silver on the other

[00:28:37] hand

[00:28:38] is going to

[00:28:38] climb and

[00:28:39] climb and climb

[00:28:39] and climb

[00:28:40] and climb

[00:28:40] and buying

[00:28:40] cloud

[00:28:41] protect yourself

[00:28:43] against what's

[00:28:44] coming

[00:28:44] because what's

[00:28:45] coming is a world

[00:28:46] in which you will

[00:28:47] need silver

[00:28:48] to buy

[00:28:49] everything

[00:28:50] buy your silver

[00:28:53] now

[00:28:53] not bars

[00:28:55] not rounds

[00:28:56] because those

[00:28:57] are not money

[00:28:58] you'd have to

[00:28:59] convert those

[00:29:00] into money

[00:29:01] anytime you change

[00:29:02] one thing to

[00:29:03] another

[00:29:03] it's cost

[00:29:04] buy the coins

[00:29:06] and the horseback

[00:29:06] to be

[00:29:07] one thing to

[00:29:07] Thank you.