Currency Uncertainties With Donna Jessip And Donald W. Dee
What if the very foundation of your financial security was under threat? In this episode of The Worldwide Threat, we explore the stark realities of currency uncertainties and the economic dangers reshaping our global landscape. Joined by financial experts Donna Jessip, VP of Global Strategic Alliance, and Donald W. Dee, Director of RCNH, we unpack inflation, debt, geopolitical tensions, and the BRICS alliance's bid to undermine the U.S. dollar. Tune in for actionable insights and strategies to protect your financial future in these uncertain times.
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Currency Uncertainties With Donna Jessip And Donald W. Dee
We have an exciting episode. It's about currency uncertainties and economic threats. Our guests are Donna, who is the VP of Global Strategic Alliance and a National Financial Consultant, and Donald, the Director of RCNH, a Financial National and Global Supplier of precious metals.
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Donna and Donald, welcome to the show. We're going to talk about currency threats, economic threats, and viable solutions to protect people and their financials. My first question is with Donna. As a financial consultant, please give us your view about the current economy in the United States and what's going on with the US dollar.
National Debt And Market Volatility
That's a big subject. I'll touch base on a couple of different items that are of utmost importance to be aware of. A lot of people are cheering because we have a new president, Donald Trump, coming into office. I'm thrilled about that as well but we still have things that are going on in our economy that could be something that we want to be careful to keep our eye on.
Donald Trump said that he is going to have an unlimited debt ceiling, which means you can continue to keep printing money this time without a debt ceiling. Overspending, excess spending, money printing, and our interest alone on our debt is so high that it's as big as our defense budget. That is one thing. It's the debt. It's global. There are many countries that are having this issue.
Market volatility is another thing to keep an eye on. Three top tech giants alone dominate 21% of the S&P 500 as well as ten top companies that dominate 40% of the market on the S&P 500. When advisors say that you're well-diversified, keep that in mind. One or two companies collapse and the whole market will crash, and it can happen very quickly.
The other is the geopolitical tensions and the threats to the US dollar. That includes not only stock market volatility but there are also cyber-attacks, which happened with China with the US Treasury. It can put everybody at risk. The pandemic, we're also talking about that. It's stirring up again as we speak. World War III is another potential that's also stirred up. There are also the tariffs that Trump could put on China and other countries which will all affect the economy. That's not including BRICS, which are ten nations that are trying to come against the United States to de-dollarize the United States as a reserve currency. These are all things that are still threats to our economy in the Trump administration.
Cybersecurity Threats And Geopolitical Risks
They're trying to make it a little worse as we go. You talked about the nuclear World War III thing. My belief in that is that they blow up a bomb to run towards it. Donald, Donna mentioned a little bit about China. What are you feeling or experiencing about that cyber-attack that hit the Treasury?
I agree with Donna on many of her points. We are living in a very high-risk environment both economically and geopolitically, to be sure. China is perhaps at the forefront of many of the issues that are going on. As you and Donna has mentioned, the US Treasury was hacked by China. There was a lot of important information that was taken.
BRICS And De-Dollarization Efforts
Think back to a couple of years ago when China was involved in sending the intelligence balloon over the United States. Ironically, China was successful in doing that. They accessed communications from the United States internet providers to relay information back to China. BRICS is going to be a very important factor as we move forward as it applies to the United States economy and certainly to the US dollar.
BRICS comprises ten countries. Uganda signed on with BRICS. Quite frankly, they are an economic powerhouse. They represent about 41% of the global economy. They are top producers of many key commodities, oil, grain, meat, and minerals being several of them. One of their goals is to de-dollarize to lessen the value of the United States dollar on the international trade stage.
To bring down the value of the dollar is what you're saying.
U.S. National Debt And Global Conflicts
If that isn't enough, then you can add the $36 trillion national debt to the picture. You can talk about inflation rates and volatile geopolitical events like Russia, Ukraine, Israel, and Hamas. There's a lot going on in some very high-risk environments.
This is the first time you've been on here with me in our show. Our goal is to share with people what's going on so they're educated and they're not buried under a black swan somewhere, and their situational awareness gets a little sharper. Ultimately, my goal is to help people understand what's going on and give them some peace in their lives. With that, Donna, based on your experience as a financial consultant, what group of people do you feel are at most at risk when trying to look at viable investments or how to save their savings or whatever? Who are you talking to more than anybody?
Financial Risks For Different Generations
There is a wide audience there. I'm going to hit on both sides. You have your older generation which relies heavily on the way they used to do things when they used to love to trust their bank, go into their bank, and keep a lot of cash. One of the problems with the cash, especially in large sums as people used to, is that they have banks. We talked about de-dollarization. A lot of people don't know this.
On March 26th, 2020, they lifted the reserve requirement on all banks. This $250,000 FDIC smoke and mirrors is that. Try to go to the bank and take out $10,000. You're going to have a problem. You're going to have to wait and you can't even get it. Counting on the Federal Reserve to have this money safe is an illusion. That's number one.
You then have your young generation who looks heavily into cryptocurrency, which is great, but that is very speculative. You see swings high and low. They don't know what's going to be rolled out. There are a lot of unknowns still in the cryptocurrency market. Is there money to be made? Yes. A balance is what I'm going to come to between the older generation having cash and the younger generation taking high risks in cryptocurrency. They're both fine but there has to come to a balance of what are the safeguards and the anchors in a swing on either one of those issues.
Gold And Silver As Financial Safeguards
Personally, I watched something where China is buying a lot of gold and silver from other countries. In your experience, because you have been doing this for 35 years, what are the pitfalls that you see in how people advertise precious metals for people to invest in? I know you're on top of that.
Thank you. You brought up a couple of very important points, John. First off, as I'm sure Donna would agree, we're seeing tremendous activity among investors with an interest in safe-haven assets or precious metals, to be sure. With all of the risks that we outlined at the beginning of our episode, individual investors, institutions, and even international central banks are looking for safe-haven vehicles.
The physical possession of precious metals, primarily gold, is the solution for many investors. As a matter of fact, in 2024, gold had its best performance in fourteen years. It outperformed all other asset classes. The reason that precious metals are in such heavy demand is a function of what is going on globally, economically, and geopolitically. People are looking for a long-term store of value.
Individual investors, institutions, and even international central banks are seeking safe-haven assets. For many, the physical possession of precious metals—primarily gold—provides the ideal solution.
Personally, I bought some gold from a company a couple of years ago. Everything was okay but I had to almost threaten a lawsuit to get them to deliver it. Without throwing anybody under the bus because I don't need to be sued. The reality is we have a lot of people tuning in to these episodes because they're concerned about what's going on. How do you see it advertised, Donald, that makes you get a check in your spirit?
If there's one problem that I observe more often than not, John, is investors shoot themselves in the foot sometimes by acting independently. They do not consult with a sophisticated, knowledgeable financial professional such as Donna and they act independently. What happens all too frequently is investors become concerned about issues that we've discussed and the knee-jerk reaction is, "I need to get myself some gold."
Gold can be a great solution for some clients under some circumstances, but what investors tend to do is immediately act on their own. They go online and try to acquire gold at the lowest possible price that they can see it advertised for. That is an recipe for disaster. You get what you pay for. There is a listed bid and ask price for virtually all metals throughout any course of a day. As soon as you see firms offering discounts or are like, "If you buy X number of ounces of gold, we're going to give you X number ounces of silver," a red flag should come up automatically.
What To Look For In A Financial Advisor
That's good advice. Tell our audience what they should be looking for when they're trying to find a financial advisor. Somebody like you that would go between you and Donald even thinking about gold or silver. What should they be looking for? What process should they go through to find somebody they can trust?
That's an important thing. Trust is probably the number one thing that people are concerned about. Many people sit on the sidelines because they don't know who to trust or don't know what to do. First of all, find somebody who didn't jump into the business a couple of a few years ago. They know very specific mechanics of the market. They're experts where they could drill down like Donald Dee and the firm at Rare Coins of New Hampshire. The people look to their firm when they need to get into inheritances or the nitty-gritty about specifically knowing this market.
Many people remain on the sidelines because they don't know whom to trust or what to do. It's essential to find someone with more than just five years of experience—someone who truly understands the specific mechanics of the market.
There's a broad brush out there of people who may know something about it but I don't think there are that many who can drill down and tell you the very specific mechanics like who's purchasing that gold and silver for you and the outcome of what you end up with in the long run. Many people won't even know until they try to liquidate. All of a sudden, they get surprised by what it's not worth, which they thought they got something so great.
This is a very tricky asset class. It's not like buying stock. This is tricky and technical. Donald Dee and the firm have 35 years of experience in technical information and knowledge beyond even what I have. There are a lot of people who have basic knowledge in the financial world but there are not that many out there that have the track record and the expertise like Donald Dee and Rare Coins of New Hampshire.
When you're looking at a company, make sure that this is a specific niche that you can trust that has a track record. Also, check whether that company has been in a lawsuit. That's an interesting thing to find out. There are many of these flashy companies that have these shiny penny ads that have all kinds of things that have been lobbied against them. The attorneys go to people like Donald Dee and say, "Can you testify and tell us what this should have done to make sure that this was done with integrity?" They go to him as an expert for this. These are the kinds of things that are good to look for and good to know.
Gold & Silver IRAs And Securing Your Inheritance
That's important. Donald, this is a similar question I'd like to ask you. As a director of a firm that has helped people through these hard issues, how would you counsel people on rolling over an existing IRA into gold or silver or having peace about how they can even manage their inheritance in this craziness that we're living in?
I like the idea that you are a man-woman team and that you both have this experience that people can see. They don't know me but you got IRAs and stuff. I don't know how valuable they are anymore. I hear that it's a good idea sometimes to liquidate an IRA and put it into gold or silver. Based on that idea and inheritance stuff, Donald, give us your feedback on that, if you would.
We get involved in the IRA space. We have many clients of ours who have physical precious metals in their IRAs. The process is quite straightforward. We work with many trust companies across the country. There are several that are exceptional. A client would simply open up an account with a trust company. They can fund that IRA with the trust company for precious metals. That's when our firm gets involved. We would execute the trade for an investor and acquire the precious metals for that investor. By law, in an IRA, those metals must be held in a third-party depository.
That's good to know.
John, there are likely many readers of the show who have precious metals in their possession or perhaps have numismatic or rare coins in their possession that they have purchased themselves. Maybe they've inherited them and have no idea what their holdings are worth. Our firm does provide appraisal services for investors. We do that routinely.
That's very interesting. I was thinking about this episode from the standpoint of, "What's bad out there in terms of our currency?" I know that Donna knows this as well as I do about what can happen to the money in this country. From a purchasing standpoint, that's one thing. The other thing that you brought up that's very interesting is that you're able to even tell whether or not that gold coin somebody bought or that package of precious metals they bought has a certain value beyond based on what it is. That's a unique thing for people who have already invested and thinking,
"Do I need to protect this investment by having the right information?" This is good stuff.
I want to make one last comment, John, on what Donald said. One of the things that the company does is they hold people's hands, so to speak. There are a lot of people that don't know how to walk through that process. There's that personal service where it's very important to have somebody who could help you through the process if you haven't been through it before.
I've never heard that before. That's new information. You may get inquiries from people from us. We had 700,000 views on what we're doing. It's relative to what's going on with these threats. I'm thankful that you two can give people some peace about this because we've got enough anxiety going on in the world. Thank you very much for spending your time with us. I look forward to talking to you all again.
Thank you, John. Blessings.
Thank you, John.
Have a good day.
You too.