Gold, Silver and the Lessons Your Kids Will Remember | David Morgan

#077. In this episode, Justin sits down with David Morgan, author of The Silver Manifesto, publisher of The Morgan Report, and creator of the documentary Silver Sunrise, for a wide-ranging conversation on money, family, and legacy.

David explains why we are living through the late stages of a debt-based, fiat monetary system—and why inflation is not an accident, but a built-in feature of the system. He breaks down the critical difference between currency and real money, and why families—not institutions—bear the greatest risk when currencies lose purchasing power.

The conversation dives deep into why gold and silver have served as stores of value for thousands of years, how they function differently within a family’s asset base, and why silver plays a uniquely important role in the modern, energy- and technology-driven world. David also shares practical guidance on how families can think about saving with hard assets, portfolio balance, and safe storage—without panic or complexity.

A major focus of the episode is financial education for kids. David and Justin discuss how parents can teach children to think independently about money, avoid debt-driven consumer habits, and understand concepts like inflation, purchasing power, and real assets through simple, tangible experiences—like holding silver or learning the history of money.

The episode closes with reflections on legacy, freedom, and resilience. David shares personal lessons from decades in the markets, the inspiration behind Silver Sunrise, and why true wealth goes beyond money to include health, wisdom, and personal freedom.

This is a conversation for parents who want to:

• Protect their family’s purchasing power
• Raise financially resilient kids
• Understand why gold and silver matter right now
• Learn how to think clearly about money in an uncertain system

Show notes and more at:

https://moneydadpodcast.com/session077

Transcript

Justin: [00:00:00] Well, what happens when your money becomes a means for control? Today's guest, David Morgan, has spent over four decades warning that the greatest risk to your wealth and your freedom is the failing financial system. He is the author of the Silver Manifesto, publisher of the Morgan Report, and now creator of the documentary Silver Sunrise.

Justin: With Insight grounded in monetary history and hard won market experience. David's here to unpack money markets mining and what it truly means to opt outta the matrix. David, welcome to the Money Dead Podcast. 

David: Well, thank you Justin. It's great to be with you. 

Justin: Before we dive in deep, I kind of want to set the stage here for parents listening.

Justin: A lot of families today are feeling that something is off in the financial system, even if they can't quite articulate it. Prices are climbing, savings don't stretch as far and most people sense that the rules of the game have changed. For many parents, including myself, this was the spark that got us questioning how the monetary system actually works in the first place.

Justin: So I'd love to start with the bigger [00:01:00] picture. My first question to you is. What signs tell us that the financial system as it is today is becoming increasingly unstable? 

David: Yeah, I will get there. First. I'd like to just maybe put a bit of more foundation, but that's a very good question to start. But the big picture is why families need hard assets more than ever, and we're living through the end game of a debt-based monetary system.

David: Families, not institutions are the ones carrying the risk. Inflation is not an event, it's a business model. Governments need it. Central banks target it and households pay for it. So hard assets like gold and silver are the antigo because they protect time, labor, effort, and purchasing power. The three things, every parent where it's hardest to preserve, and the bottom line is that all fiats fail.

David: There's never been a money system. That's been based on an unbacked piece of paper that has not failed. The failure rate is 100% [00:02:00] guaranteed. Now we're in about 50 years or more since the Bretton Woods agreement was null and void by President Nixon, August 15th, 1971, where he took us off the dollar standard, which was tied to gold and.

David: From that time till now, we've had more and more inflation and the money's become worth less, and is moving toward worthless. And that's the bottom line. It's that simple that these experiments in printing wealth work for a while, the early stages of inflation, everybody's making more money, prices are going up their house, prices going up, so they feel richer, their wages are getting increased and people feel like, you know, inflation's a good thing.

David: And now near the end, the prices start to increase at a more rapid rate, where the average family, seeing the grocery bill may be 30, 40% higher than it was, let's say a year ago. , Property taxes gone up, healthcare's gone up, education's [00:03:00] gone up. , The cost of money's gone up. So all these things start to compound and it really separates , , the masses from the very elite.

David: To, , a wiping out pretty much to the middle class and you have basically a, a two tier society, the haves and the very, very rich and, and anybody else. , , Certainly we're not there yet, but the trend is in place. 

Justin: Yeah. You mentioned that sort of the haves, havenots, the two tier society, and it really is important to ensure you are owning assets in this world to make sure that you are.

Justin: continuing to protect your, purchasing power to continue to generate, wealth for those assets to those assets. you know, so the monetary system, I guess as it is today is in a lot of cases rigged. , Because you, you know, you mentioned, so the governments need inflation. They are effectively taking money out of our [00:04:00] pockets, out of everyone's pockets and putting it, putting it away in theirs , and doing so in, in such a negative manner.

Justin: , , how would you help parents explain this to their kids? What's going on? What can you know, what can we do about it? 

David: Yeah, well education is the key and, uh, there's a book I bought for my granddaughter.

David: In fact, the first book, I don't have it memorized, but it's a children's book, but it would apply from, you know, a 3-year-old to probably a 10-year-old. It apply a parent really, but it talks about unstable money in a, you know, uh, form that al anyone can understand. So that's education. You gotta understand that what I just said is true or verify for yourself that when you go onto a paper money, print wealth system, it doesn't work.

David: It may work for a while, as I said for a quick example that I think all of our viewers would know. [00:05:00] You look at Zimbabwe, Zimbabwe the dollar, the Zim dollar was actually worth about the same as a US dollar at one time. And then they went into a hyperinflation that took a year and a half, and at the very end they had these $100 trillion bills.

David: And even though they were printed, they never made it to market because the system had failed before those could be put in circulation. So people were using US dollars, greenbacks, gold and silver. Gold and silver jewelry And gold is gold. It's a ring or it's an earring, or it's a bracelet. It's still gold, so it doesn't have to be a gold coin.

David: Just gold. Mm-hmm. Same with silver. It could be a bracelet, it could be an earring, it could be a necklace, gold, silver, and the US dollars. Everything else, anything in that was made by the government of Zimbabwe was null and Boyd by the people themselves, not by the government. No. Our currencies no good.

David: None. [00:06:00] Government never said that. I want to go further on that idea. So if you could print wealth, which is what they tried, Zimbabwe would be the richest country in the world, but it's not. So they do fail. The problem this time is that we are in a system that the dollars of reserve currency in the world.

David: So Justin, we're not talking about Zimbabwe having a monetary crisis. We're talking about the world having a monetary crisis, and that's a big deal. Not that. We should separate it, Zimbabwe or whatever, but those, that's a, when it's one nation state, or two or three, especially a smaller country, the people can mitigate it somewhat.

David: Go to a different country, trade with another country, use a different currency. As I said they did, they use US dollars, but if it's like the system for the world and it fails, we're talking a monumental issue. No doubt. 

Justin: Yeah, I think one of the things that people maybe fail [00:07:00] to grasp is that, you know, you can maybe look at these one-off sort of examples like Zimbabwe and, and think, oh, that can never happen in the US or, or, to such a, a country like that.

Justin: Or, or, or even Canada here, you know, I'm based in Canada. But it's one of those things where I think given the situation that, let's say for instance the US has been with what, $38 trillion in debt. And can, and having, you know, the interest payments alone just to service that debt on, on a annual basis, being, , one of the largest line items on in the budget.

Justin: So you have, they have to continue printing money in order to be able to service that, just the debt alone. And so that I think, leads us to a situation where, maybe people can't believe, but yes, the US. It can fail, it can, it can, um, it can go down and, and albeit currencies do fail in time, you know how long it takes us to get there.

Justin: Who knows? No one has a crystal ball, but I, it, [00:08:00] you know, we are in the late stages of that cycle, that debt cycle. Um, you talk about, so going back to what you said, in terms of families needing hard assets and so hard assets, being silver, being gold, and I think a lot of. You see this here where you have all time highs in silver, all time highs in gold because perhaps either people or, or central banks or or whatever are waking up to that fact that, we want, we need those hard assets.

Justin: And I know for myself, my own personal experience, I know when COVID hit, that's when I really started to question. Really what money was and you know, 'cause I could see that they were printing a lot of it. And it hit me that our, our money was really being severely debased. I needed to understand what I could do to protect myself and my family.

Justin: So for the average family, you know, why should precious metals like silver, like gold be on the radar? And what's a way for them to start building a position in silver or gold? [00:09:00] 

David: Let's think about how to think about precious metals as a parent. So parents need to plan across multiple time horizons, two years, 10 years, and 30 years.

David: You know, you gotta, you know, you raising your kids. I mean, most kids are raised in their homes till, at least through high school, maybe through college, maybe longer. Uh, so you know, you have those timeframes, metal shine on the longest horizon because they preserve purchasing power across generations. So money is supposed to be a store of value, but current fiat money is not a store of value.

David: Gold and silver are really money. The quote, quote unquote, money we use is really just currency. So metals also act as a behavioral anchor. When you have a hard asset foundation, you can take more thoughtful, less reactive risks in the rest of your portfolio. In other words, if you are putting away savings.

David: You save in precious metals, [00:10:00] then again, you have stability. The purchasing power over time will maintain, perhaps increase. Yes, the price of silver and gold go up and down and you could get buying at a high and then, uh, paper-wise and then over, you know, the next six months, a year, whatever. It's lower if you had to cash out.

David: But in the long term, they do so much better than paper. For example, when I started driving as a teenager a quarter, which was, uh, as a teenager, wasn't a silver quarter, but a quarter would buy you a uh, g uh, gallon of gas. And today, a silver quarter will still buy you a gallon outta gas. Actually, more than that.

David: So the lessons to teach your kid is that money is a claim on human effort. In other words, your labor is being claimed by money. Real assets don't depend on promises. In other words, the political class promise that, you know, inflation's under control a little [00:11:00] inflation's good or we're gonna raise wages, or the minimum wage is gonna increase.

David: All these things that the public usually takes at face value for being meaningful actions by the political class are really meaningless in the long term, but they sound good. And most people don't understand how money really works or the difference. Between money and currency, and that's what you need to teach your kids as soon as possible.

David: Again, going back to that book, and savings should outlast circumstances. In other words, you want to build a savings platform that you can add to, uh, on a regular basis. Of course, emergencies come up and that's one of the reasons you have savings, but if you're able to just kinda admit it.

David: Mitigate that, uh, and continue to save or maybe put it on hold for a, crisis situation or what have you go on. So that's the thinking about precious metals as a parent. Now let's go down the gold and silver trail and what each metal does in a family portfolio. Gold is basically the stabilizer of the insurance.

David: The long [00:12:00] term horizon. Store of value. Think of it as like financial fireproofing or fire insurance on your house. It's like it's there for you and will ensure that you have some stability where you may not in other areas monetarily. Well, silver's a wealth builder. It's a generational opportunity at this point in time.

David: Silver historically outperforms gold. When the system is in a repricing risk, meaning, uh, what I just outlined, everything's gone up. Food costs, education costs, insurance costs, housing costs. That's what silver usually does the best. It would be, you know, world where fiat currencies lose purchasing power and financial claims are increasingly fragile, combining gold stability and silver's, asymmetric upside.

David: Creates the balanced hardcore asset core so that you [00:13:00] wanna build your core with both the younger you are, your young parent, you can take a little more risk, you can probably favor silver over gold. The older, if you're, you know, you have your grandkids living with you for whatever reasons, uh, you should favor gold over silver.

David: But I think you'd be making a mistake if you didn't include both

Justin: And so. , I guess there's two ways to look at this. One is like building out an investment portfolio. So, you know, allocating, I'm gonna allocate some to silver, some to gold, some to stocks, some to real estate, whatever. That's kind of one way you can look at it.

Justin: And then the second is really ,. as you perhaps collect savings. So rather than putting it into a, a bank account, savings account that pays you nothing, are you saying that you know, you should be diverting those funds and putting it into silver, putting into gold to act as savings in, uh, a [00:14:00] store of value?

Justin: It's separate from, let's say from an investment perspective, investment portfolio and allocation. 

David: Yeah. Let's say at both scenarios, Justin. 'cause in one you are looking at like a part of a portfolio. So if you're wealthy enough to have a portfolio, then yeah, you would have, , whatever, stocks, bonds, real estate.

David: Stocks set stocks, and so precious metals. And to balance the portfolio, you probably need at least 10% in precious metals these days, the way things are going, probably 20%. So you've got 20% in gold and silver. You have or gold and silver equivalents. I've always recommend and always have physical metal first.

David: And then you could go into, you could go into ETFs or mining stocks or whatever, but that's only 20%. So now 80% is in, real estate and stocks or real estate, stocks and bonds, whatever. So you're diversified. However, so many people do not have a portfolio, don't know what a portfolio is. They're making it, but barely.

David: But maybe they're able [00:15:00] to put some savings away. And in those cases, obviously you gotta keep some savings in your checking account so that you can pay your bills, but for what you're gonna save for the long term, if you saved in hard assets, gold and silver over. Time you would do much, much better than keeping that money sterile in a checking account or even a bank savings account.

David: And that's been proven, you know, time and time again, especially in the end game where we are now, where the medals are really acce accelerating in terms of, of price. And you know, it's interesting is the, I'll call it Misthinking Justin about gold and silver. I mean, most of the public say my mind, gold and silver are really going up in price.

David: If you really think about it objectively, an ounce of gold is the same mass anywhere in the universe forever. Same thing with silver, the same mass, anywhere in the universe forever. They don't change. They are a constant. So what's [00:16:00] changing? Well, what's changing is how fast the currency is, is losing value.

David: That's what the price change indicates. Gold isn't changing. Silver isn't changing. The amount of purchasing power that you have in that piece of paper is deteriorating very rapidly. That's what the price change means. The other thing I'd say, because it's been in the back of my mind, I want to get it out before I forget, is one of the best lessons you can teach your children about finance money is to live within your means.

David: The idea that, um, buy now, pay later, and get in the, uh, credit card. Debt paradigm is something you wanna avoid as much as possible. Obviously buying a house, almost everybody's gotta get a mortgage. That's a bit of a different animal. But as far as I can afford this car versus the new car.

David: Very hard for some people to not, once they get a job and the steady income and get credit to not use [00:17:00] that credit and buy the new car because it makes it feel better status, whatever. But it's something to at least educate your kids to make the choice and think about the choice. Well, if I buy this same model, but it's three years old, I save this much money, my insurance costs are less.

David: It's not new, but it's pretty close. And look at how much more money I could say, save. Or how much quicker I could pay it off or whatever. So trying to teach. Everyone to live within their means is highly important, and then living within your means would also include the ability to save maybe 10% of your income.

David: Now, I understand it's very difficult these days. I know there's people out there working two or three jobs and still can't make things meet. I'm not discounting that because that's the reality that we have today. But in the idealized world where. The average person, whatever that means, makes an average [00:18:00] living that amount is suitable enough to pay their bills, not be in debt, talking about rent, apartment, and, uh, put, 10% away.

David: So you're paying yourself every month. You know, I make, uh, make up a number, 4,000 a month. My bills come to. 3,600 and I'm able to put $400 in the bank every month. Obviously some goes in the bank to pay your bills, but of that 400, maybe you put 200 of it every month into gold and silver, and you keep that habit going from, you know, that point forward.

Justin: Yeah that's a very important lesson, I think, to make sure that you are putting away. Saving whether it's, you know, if you can get to 10% or, or more. Uh, and principal, I would say along with that is really to help with that is to pay yourself first. So, you know, let's say, yeah, you make the $4,000 a month, try to pay yourself first, put that aside, and then use what's left over to pay for the rest of your bills [00:19:00] and other expenses.

Justin: You also. Touched on. I think the key thing, going back to how people mistakenly think about gold and silver, where you're right, an ounce of gold is an ounce of gold, you know, now, 10 years from now, you know, a hundred years from now, it's really about, people think about, oh, the, the price of that commodity is going up.

Justin: But really that's just a reflection of the value of your dollars going to. Buy that commodity is it's becoming, uh, worth less. So you need to just use more of those dollars to buy that same amount of metal. So how can you know, in terms of storing precious metals, how should families think about storing that safely without turning it into a complicated or expensive process?

Justin: Is it a matter of, sticking it in your. Safe at home and, and, you know, kind of keeping it safe that way? Or, or how do you, how your families think about that? 

David: It depends on the person. Obviously it's [00:20:00] a, personal choice. I really think, uh, first of all, I think everyone should be exposed to some, metal and.

David: Just to preserve what they've earned, what their labor value is to preserve that. So I would say for, a lot of people, you can have it at home. I mean, there's lots of places you can hide it that, uh, be very difficult for someone to know it's there. Um, and one must put in the ground. I mean, now some apartment dwellers probably couldn't do that.

David: There's places in an apartment you can hide it pretty judiciously. That'd be very difficult to find. And then of course, if you want, you can store it with a storage facility. There are some, uh, that I recommend, some that I wouldn't. Then the bank, uh, depending on the laws of the bank, maybe be a little careful there because in some jurisdictions, the bank on a bank

David: closure could go in without your permission if you sign the form to get a safe deposit box and [00:21:00] read it. It gives them permission to unlock your safety deposit box in a bank closure, right? So that's one. So there's also private vault, so there's lots of things to do. I mean, one of the easiest ways if you live, even in a, you know, a normal neighborhood is you can buy, um, you know, all these dirty man safes that, uh, basically they're, uh, hard plastic, they're really well constructed and yeah.

David: Um. You, uh, just put your goodies in there. It could be, uh, papers that are important to you. Gold and silver jewelry. 

Justin: Yeah. 

David: And bury it in the ground. 

Justin: Yeah. 

David: And, you know, that's pretty hard to find, even with a metal detector. It's not that easy. And if you're worried about a metal detector, go, uh, you know, find some used scrap metal somewhere and spread it around all over the, that area.

David: Yep. The detector will go off and you'll be digging up nails and, whatever. 

Justin: Right. [00:22:00] Send them on a wild goose chase. Okay. And what, what would you say in terms of the biggest myths about maybe whether it's gold or silver that stops families from exploring it as part of their savings strategy?

David: Well, the number one is that they're volatile and they're not stable. That, uh, they're risky. Oh my God. Did you see the price of silver? It's gone from here to here, and then it went from there to there. But again, if you use your common sense, silver didn't change. 

David: The paper price changed and that's due to a lot of factors.

David: Somewhat supply and demand, somewhat. Management of the market. Somewhat perception that Wall Streeters want to give the general public. These are risky assets. No paper currencies are risky assets. The bond market's a risky asset. Those are the risky assets. They always fail. What's never failed are gold and silver.

David: It's the exact opposite of [00:23:00] what you hear ad nauseum from the mainstream financial press. Oh, you can't buy gold. It's risky. You see where the price is gone. Oh, I wouldn't buy gold. And of course, all the financial planners are taught that as well. So you're someone that's, you know, middle class income.

David: Savings. Maybe you've been married for five years, you got your first kid, you both are working, things are looking pretty bright. You go to your financial planner pay 'em a fee or whatever. Some don't, and sit down. So you know, inflation's this, we're gonna give you this stock and that stock.

David: We're gonna give this and that. We want to continue to save. And then if the person's bright enough to ask the question, well, what about precious metals? Or what about gold? 99.99% of the time, the financial planner. Oh, you don't wanna do that. It's too risky. 

Justin: Yeah, 

David: because they don't have a monetary background like I do.

David: They're not taught the truth. They're taught to sell for Wall Street and they don't question what they're taught. So 

Justin: yeah, 

David: that's the big myth. [00:24:00] 

Justin: Exactly. One of the themes that really stands out in your work is really, you know, you're teaching people how to think, not what to think. You know, you talked about earlier in terms of teaching.

Justin: People to live within their means and then actually living within their means. And, and as parents, that's exactly what we want for our kids, right? When it comes to money, they're growing up in a world right now, full of headlines, influencers, a lot of noise, competing narratives. So I'd love to talk about how we can raise our kids to think clearly about money instead of just absorbing whatever they hear online or see online or hear in school.

Justin: So, you know, you, you believe economic truth gets buried behind or beneath the mainstream narrative. How do parents teach their kids to think independently about money? 

David: Well, Justin, as I understand it, your audience loves practical family ready ideas. Here's a few I came up with. First of all, let kids hold real silver.

David: Uh, the tangibility teaches what Fiat cannot whenever you've held a silver or gold coin, and [00:25:00] very few people have. There's something, at least from most people, and this is just not me, it's, it's reflective back from, you know, many people that have told me this. In fact, I had a publisher that was working with me for many years and I sent his daughter a silver dollar, and uh, he actually sent me the little film of it.

David: She grabbed onto that thing, wouldn't let go. She's like two years old. So that's something, you know, you feel the substance, you feel that it's valuable just by holding it. Explain inflation in terms of chores. The same work buys less over time. So you're working, working and working, and you're working the same amount, but it buys less over time.

David: That's what this system does to everyone. And then introduce the idea of productive assets versus consumable money, assets that produce things versus you know, spending money. So that's, you know, [00:26:00] comes into using credit wisely. It comes into, if you're gonna buy a stock, what is really buying a company?

David: What does that company produce? Is it something that's needed or wanted? And is it. Producing a profit because if you're an owner of a company, your main motivation is to make a profit. So when you analyze a stock, you should analyze it as a company and see if the company is a going concern of viable business that produces a return on capital invested that is hardly ever thought about anymore.

David: And the other one is to show them the difference between wealth that's printed. Wealth that maintains through centuries, and that's the metals legacy, wealth. People hear that term and this family to family. Maybe. My great-great-grandfather had this amount of land and that land was a bunch of orange groves and he wasn't really that wealthy, [00:27:00] but it went from the great-grandfather of the grandfather.

David: The orange trees got mowed down and apartments started going in, and then the grandson gets it and all of a sudden it's. High rises and he is a multi, multi multimillionaire. 

Justin: Yeah. 

David: Um, so there's three things that preserve legacy wealth. It's land gold or precious metals and fine art. And most of us can do two out of the three fine arts outta my realm.

David: And we're talking Monet and Rembrandts and that type of thing, which is well beyond my means. But nonetheless, if you're in that class, you certainly can look at those things. Um, so that's, that I think the most important message for families right now as the world's shifting from, uh, financialization to materialization.

David: This is where real assets, real resources, and real production matters. Not Nvidia stock, not, uh, MOF shares, [00:28:00] not am Amazon shares, but where real assets, real resources, and real production matters. So we're really in a contracting economy on a global basis, not expanding. Families who prepare early are not only prepared to protect their future, but they give their children a head start.

David: So having that frank discussion certainly is very important. Uh, you know, I. I guess you could say at my early years, 11, 12, 13, I was kind of obsessed about money. I didn't really understand it. Yeah. And I learned about it and, uh, it's, it has its proper place in my life now and has for a very, very long time.

Justin: Yeah. 

David: But nonetheless, a lot of people never learn at the age I did what, the real system is all about. So you don't need to predict the future. You just need to own something that you know will matter in the future. And nothing, there is nothing that matters more in the future than energy. And for the [00:29:00] most part, that means oil.

David: But the second most important thing that matters globally is silver. Because you cannot have the high Texas society that we have globally without. So all electricity depends on it. All the alternative energy, like solar panels depend on it. Everything that has to do with computers depends on it. Cell phones depend on it.

David: Flat screen TVs depend on it. Basically, everything that we have in a electronic or electrical world depends upon silver. So as a thought experiment, you could take gold away tomorrow and it would be. It would be a, uh, problem, let's say, or be something that would be very problematic for, let's say, central banks that own gold or gold, gold owners worldwide.

David: But the world wouldn't change really at all. 

Justin: Right. 

David: And if you took silver away, basically [00:30:00] right now, you'd go back to the 1880s. 

Justin: And that's, that's because silver is, is in. A lot of goods and, and things that are being produced, and so we absolutely need it. In 

David: order it's absolutely 

Justin: to produce those.

David: It's an absolute essential, irreplaceable, most under misunderstood and undervalued asset in the world, as far as I'm concerned. But don't really think about it. You know, you don't think about when membrane switch on your microwave oven. There's silver in that contact, 

Justin: right? Or 

David: relay in your washing machine.

David: That has to be silver. Otherwise, it won't function properly. It could be copper. But if it did, you'd have the Maytag repairment out there. Because copper doesn't conduct as well as a silver does. It's almost a hundred percent reliable. So these are things that, obviously being a student of the metals and particularly the silver market, you know, I kind of take for granted.

David: But most people never give it a second thought. That's why I do that thought experiment. If you had, you know, no silver, you wouldn't have a [00:31:00] microwave, you know, you wouldn't have an automobile, really. These days. 

Justin: , When you were talking about earlier that uh, what you could do is, give your child silver, like actual something tangible, right?

Justin: That they can hold and feel. That actually reminded me of when I was a kid. I don't know how I got it. Maybe my parents or my dad got it from me, but I remember those silver dollars those. Big silver dollars and they had heft, like there was, there was weight in it. And I remember that. 'cause you compare that to whatever else, other coins.

Justin: And there's a distinct difference right. To that and feel of it. And I still, I'm pretty sure I have those silver dollars buried in a box somewhere. 

David: Probably 

Justin: worth a lot more now. Yeah. 

David: I didn't mean to interrupt, but you know, I, I have given out coins to my kids. And other families, you know, I mean, birthdays of, you know, friends and that type of thing.

David: And almost always I give, uh, silver. Yeah. But, uh, what's interesting about that is that if you go 10 years or 20 years in the future, [00:32:00] in almost all cases, those kids that are 10 or 20 years older still have that silver. But they can't tell you what they got on that birthday 10 years ago or 20 years ago.

Justin: Right? 

David: And most of that stuff's hit the trash can or outgrown it or whatever. I'm not saying that you know silver, the answer to everything. What I'm just saying is that once you give them that, let's say that little thread of truth or plant the seed, let's put it in those terms that, hey, this is something enduring that's valuable that will retain value.

David: I give 'em a lecture, just give it to 'em. They're not gonna throw it away. It's got value. In fact, Hey, wait a minute. This buys more, you know, popcorn than it did when I checked last time. Yep. In fact, it's five times more popcorn. 

Justin: Yeah, for sure. If, if you could add one mandatory skill to a child's financial education, what would that be?

David: I think it would be, learn the difference between money and currency. Find out that, uh, the words are [00:33:00] misused, they're really not. Correct in, uh, in basically even legal terms if you want to get down to it. But, uh, again, you can't print wealth, although again, it can be achieved for a while. And I think maybe a brief history of money, is something

Justin: . I remember talking to my oldest about the history of money, the evolution of money, and, and we went through, um, it was like shells, it was like seashells or but it, it eventually came to like the, I call it Yap, stone, uh, yap stones, those big stones that were so large that you couldn't even move them around.

Justin: But that. Effectively, you could transfer ownership by saying, okay, well, that belonged to me. It's located here. But if you study, you're right. If you study the evolution of money and how it came to be about people, just think about money as in currency today, the, the fiat currency, not about the origins of it.

Justin: But it's such an interesting thought process and around that if you, if you really [00:34:00] take the time to dive into it. 

Justin: One of the, you know, reasons I appreciate your voice is that you bring calm to conversations that can easily become doom and gloom.

Justin: So you've been warning for years about this sort of next financial or next major financial shock. Not to create fear, but to prepare people. And so for families really, preparation doesn't have to mean panic. It can mean, you know, taking small, practical steps that lead to resilience. What should families do right now to prepare without panicking?

Justin: Right? We talk about fiat, all fiat currencies fail. What should families be doing right now to prepare for that? 

David: Yeah, that's a great question. You know, again, I, it comes back to the first thing which is education. Know the difference. I think at the end of the day, every parent wants the same thing.

David: Give their children a future that's more secure than the one that they started with. We can't control the economy. The markets are the policy decision makers. That's above what we can do, [00:35:00] but we also know we can prepare. So when you anchor your family's wealth and real assets and education and discipline, you're not only just protecting money, you're preparing your kids for a.

David: Stable as can be human experience where they can control what they could control You. Basically, you can make a choice when you get that paycheck, how to spend it. And uh, to use some discipline in a long, longer term plan. Doesn't mean you have to deprive yourself of everything. But, uh, I remember in college, you know, I was just, you know, like most calls could broke and I found this book I forget the exact title, but the essence of it was.

David: How to live good on very little and stuff. I've thought about you can go to the Goodwill and get almost anything, clothes, shoes, furniture, you know, first like couches and tables, you know, glasses for pennies on the dollar. I mean, we are [00:36:00] throwaway society, so you could, if you know, if you are not, you know, you gotta hold your nose or everything you buy has to be new.

David: Um, well then you've got. An issue that, I'm free market. You wanna buy only buy, you buy new. Yeah. But you know, for someone that wants to really stretch a dollar, I mean, you could shop the Goodwill and basically furnish an apartment for very, very little Yeah. And got all the stuff you need.

David: And, you know, I outgrew the, it's gotta be new for me, a long time ago. Um, that, that's me. But the thing about a new whatever, a new car especially, but it could be a new TV or it could be a new, you know, piece of clothing or whatever. It's, you know, it's only got that extra spark for a very short time.

David: And when you buy a new car, I've only had two new cars in my life. Is that right? You know, the first scratch, it's a big event, especially when you're younger. Now it's not that big a deal to me. They all get older, you know, I mean those, well, those last car I have, [00:37:00] I did buy it new. I wanted it new for a specific reason.

David: It was a first year of a diesel. I wanted a diesel. But regardless, um, it's 12 years old now. It's got almost 200,000 miles. But being a diesel, it'll go another 200,000 miles. So, you know, I think in terms of value, and I'm getting, you know, 40 miles to the gallon, it scoots around pretty good. 'cause it's turbocharged.

David: It's kind of fun to drive. It's almost a little go-kart. It meets all of my needs and it's been, uh, a maintenance, uh, easy maintenance. I did, uh, the turbo did blow out after about 170,000 miles. Had to replace that. But anyway, don't wanna get too personal. But the point being is it's not what you think.

David: It's how you think. And that's what, uh, you complimented me on. I don't want people to say, oh, David says therefore. That's what we're taught. That's what the indoctrination system called education or the school system does. I'd rather teach you to think on your own, [00:38:00] 

Justin: like, 

David: no, I want the new car. I know it's costing me more, but it gives me so much pleasure.

David: Or it's going to, get me the wife one, or whatever. That's personal. I wouldn't argue against it. But there's also things that, uh, how many of us have bought some that we wanted? Home said, why did they buy That 

Justin: happens all the time. Happens all the time. , , the way I think about things is, um, like how, yeah, how much use can get, can I get out of this?

Justin: How many, you know, can I make sure that I. Let's say if it's a piece of clothing, right? Like I, I, I don't wanna just use it a couple times. I wanna make sure I, I get full value, full use of it. And so, you know, in those situations it might make sense to get a more expensive suit or a more expensive shoes because it'll hold it's more durable.

Justin: It's higher quality because you can make it last longer. And so, yeah, you're right. It's not about, it's not a value judgment in terms of what people. Or doing, it's really just thinking about your choices that you're making. Like, so if, if you want to get brand new [00:39:00] car, sure, but think about you know, why you're really doing it.

Justin: How long is that feeling gonna last? 'cause you're right, that new. Feeling you get from it doesn't last very long. And so, you gotta think about that. , I'd love to get into , some more personal things for you in terms of, you know, you've spent decades studying markets, money, economic history, but obviously behind all of that comes, you know, your personal experiences, mistakes, mentors, and values that have shaped your own worldview.

Justin: , What's the hardest money lesson that you've had to learn personally? 

David: Not understanding the process. Once I learned about, you know, honest money and became more or less a gold bug early on, I felt that was an area I wanted to specialize in and put most of my investments in. But I didn't understand the risk reward profile, so I wanted to get rich quick and that was a mistake, and I paid the price for that.

David: So after I lost money, uh, I gained experience and education the hard way. I understood that. You know, as I said [00:40:00] earlier, if you're gonna buy a business that's profitable. Now, if you wanna speculate on a new idea, then that's different than investing. When you speculate, you have usually a short term time horizon and you wanna do with money you can afford to lose.

David: And that's what teach the Morgan report. We have speculations, but you know, in big print it says money you can afford to lose goes into these. Big money that's going to, that's in a business that's highly profitable. You can put big money into these companies. And so I waited the portfolio from the day I started the mug report the last, the first report to the last report takes a broader perspective as far as what we really value and money's important, but I leave my audience with the closing statement, wishing you health.

David: Above wealth, wisdom beyond knowledge. David Morgan, and I've signed off that way for the last [00:41:00] 25 plus years, and the reason for that is health. You know the idea that you, when you have your health, you're as rich as any king. Yeah. I believe that to be true. And wisdom beyond knowledge, because the idea is knowledge is power is a statement we've all heard hundreds of times, but the truth of the matter, if you think about it, is.

David: Applied Knowledge is power, but knowledge by itself isn't really that powerful. If you know what to eat to maintain a healthy body, and you have that knowledge, but you don't take the action of eating healthy, then the knowledge by itself is pretty much meaningless. But the applied knowledge, to me, that's wisdom.

David: Wisdom is working, knowing how the world works and working with the way the world works. That usually comes from experience. 

Justin: Well said. , Knowledge is potential power, but if unless you apply it, it actually doesn't hold, doesn't mean anything. And that's where the power comes in, that wisdom there.

Justin: [00:42:00] Were there other early influences in your career, your life, mentors or experiences that really shaped the way you view money? 

David: Yes. One was that the, uh. The coin has changed. In 1965, I was an 11-year-old kid and I was getting an allowance of 25 cents a week doing my chores, and I got all these silver quarters, and then one day my dad dropped a new quarter on me and it wasn't silver.

David: What the hell's going on here? But I didn't make a federal case of it or said I don't want it. I don't accept it. But no one really seemed to get the idea that I got just as an 11-year-old kid. This can't be as valuable as these silver ones. It just can't. 

Justin: Right, 

David: but like who, no one around you seem to be paying any attention to that.

David: So again, as I learned more about how the banking system, factory reserve system works, that the Federal Reserve is a private corporation and all the stuff that, you know, everyone nowadays knows, it was all new to me and new to a lot of people. Uh, I started looking in basically the financial [00:43:00] newsletter industry, looking for alternative sources of information.

David: What we call the alt media now. Mm-hmm. In those days, there wasn't an internet, there wasn't a cell phone. You had to get it from the snail mail, and it was kind of hard to determine how to find these people, but most of them were very outside the box thinkers, what we call the truth seekers or truth writers.

David: And so I started to accumulate knowledge through a lot of them. Some are better than others. I mean, Richard Russell's one that comes to mind. James Dines, Jim Sinclair. Howard Ruff wasn't really that good, but he was a good marketer. So those type of people, and that influenced my thinking about money, preservation of wealth, how to live within your means, and basically what we outlined today in our discussion.

Justin: Okay, well, of course we can't have this conversation without talking about your new documentary, silver Sunrise, , which pulls [00:44:00] back the curtain on the connection between monetary control and personal freedom, something that every family should understand. Could you talk about what inspired you to create Silver Sunrise and what do you hope families can specifically take away from the film?

David: , I've used a business coach on and off for years and. It goes in and fits and spurts. I had one for like two years, 20 something years ago. I went years without, and then, uh, someone I met at a seminar said, yeah, why don't, you know, we connect and work with him. He wasn't of much value and then I found another was more of kinda a health coach.

David: It turned into kind a business coach and he encouraged me not to write another book. I've written three and maybe do a documentary. The more I thought about it, the more it made sense to me because very few people read that much anymore. And a lot of people just like to kick back and watch a movie.

David: Or a documentary. And then I started, you know, well, what does my [00:45:00] documentary want to, you know, show about the money problem that others haven't? So I took the approach more of a spiritual approach. And if you look up on a search engine, you know what's one of the biggest stresses? For people in general, you'll find finance.

David: Like 80% of the time, you know, people get divorced over financial problems. Uh, families break up due to financial problems. Fights happen on inheritances. Uh, union, I gotta get my fair share or you took the money from me. I mean, there's a lot of problems surround money. So the subset is to overcome the fear, stress and control that money has over our lives.

David: And I look at the real value of things and money does play a part. But there's more to us than money will ever be. And back to, I think what you alluded to a while back, Justin, was, where is money's proper place in the human experience? And if you look at someone that's a hard money or honest money advocate, such as myself, [00:46:00] I will readily admit anytime, anywhere that a hundred ounces of gold coins is preservation of wealth.

David: Quite a tidy sum, but it's not worth anything. If you've lost your freedom, if you don't have the ability to buy what you want, go where you want speak, um, that type of thing, then you've lost your freedom. It doesn't matter how much money you got, fiat or otherwise, you've lost something that's absolutely priceless, and that's my main thing.

David: It doesn't come across real strong in the silver sunrise, but it's there. But that's my main message. Money can solve a lot of their problems, but it can't solve an Orwellian system that's being pushed upon the populace on a global basis. That will be basically the ability to enslave people and in many cases, without their knowledge, right?

David: I mean, if [00:47:00] you are in a system that has a great deal of control over you. You're able to choose which fast food restaurant you're able to choose to eat. You might think you're free. Yeah. But you're still within the matrix.

David: And all you have is a choice that they've provided for you, giving you the illusion that you have for you.

Justin: That's deep. That is deep. Well, as you wrap up here tell us where my listeners can follow and support your work. 

David: Yeah, the best thing is go to the landing page, the morgan report.com. We have a three step process. You can, uh, sign up for free information, which I'd say is valuable. And even if you know, you're a youngster, you know you're in that 6, 7, 8, 9, 10, I mean, you might not understand at all.

David: I never try to talk over anyone's head, but, you know, some of it might be new language or material, but I think anyone could catch onto it. And then the second one is to watch the movie, the Four Horseman Film. And the last one, uh, for your viewers is just to, if you're so [00:48:00] inclined and you're serious about learning more on how to become a member of the Morgan report on the paid side, not the free side, which is available for everybody for free.

David: The paid side's more about picking resource stocks, , to help you gain financial independence. , That's a 50 minute call, that's a $250 value. That's done with me, not with one of my staff. And, , it's a, , opportunity to have a chat and discover, you know, answer questions. I mean, some questions are.

David: Can't afford you newsletter. But I've listed to you, I really respect you. I wanna buy gold for the first time. Where do I do it? How do I do it? I don't want to get burned. That type of thing. So

David: i'm here for that. I don't know how long I'm gonna offer it. Probably another few months probably.

David: It is a bit taxing on what I usually produce for myself, which is a pretty long day. But I think it's really important because we're getting near the end game. In other words, things are accelerated as we talked about. The price of gold is [00:49:00] accelerating, so is silver, which means you don't have a lot of time left, and I just want to help as many people as I possibly can.

Justin: , I'll have all those links in the show notes as well and highly encourage people to check out the Morgan report for those fewer resources. And, if inclined wanna, you know. Consult with you as well. , So David, this has been a fantastic conversation. Thank you so much for being on the show and, and providing your insights into how families can go about protecting themselves, protecting their wealth, uh, helping educate their kids, teaching them how to think about things you know, living within their means.

Justin: All of that. Great advice there. So is there anything that we've not touched on that you want to cover off before we sign off here? 

David: I think maybe, you know, we didn't hit the doom gloom too much. Sometimes I may sound more doomy gloomy than other times I'm interviewed, but, uh, you know, no matter how quote unquote bad things get, uh, there's a silver lining to sound a bit corny, but the human experience is enduring all kinds of things.

David: So I really [00:50:00] think what we're facing is not as harsh as some things that have been felt by other generations. You know, world War ii, world War I. You know, they probably had a much worse some of the places in, uh, the world right now. I mean, Serbia, Hamas, uh, not Hamas, but the, excuse me, the Gaza area. I mean, you know, devastation.

David: But yet the human experience, the human being is so phenomenal that they can get through and adapt, adapt to almost anything. And I think that's important to bear in mind that, you know, no matter how bleak it may look. First of all, that's your imagination. It may never get that bleak. And secondly, however it does manifest.

David: You can handle it. You can handle anything. 

David: That's been proven over and over again. So keep that. I wouldn't even call it faith, but you could. But the idea that you can persevere no matter what the, you know, whatever life throws at you. Life in life's terms, ev, people have been there and [00:51:00] done that, or people have been there and done more with less.

David: So we're gonna get through, and my main wish is as we come through the new system, we come out better on the other side with more freedom, more liberty, a higher lifestyle, and more equality for all. 

Justin: Absolutely. Well, , heres to a brighter future. , Thanks so much, David.

David: Oh, you're most welcome.