Bank Bans Gold Traders? The Truth Nobody's Telling | Alex Spellane DSH #1062

Summary

Digital Social Hour Episode Summary Title: Bank Bans Gold Traders? The Truth Nobody's Telling | Alex Spellane DSH #1062
Host: Sean Kelly
Guest: Alex Spellane
Release Date: January 5, 2025

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Introduction

In this captivating episode of Digital Social Hour, host Sean Kelly engages in an insightful conversation with Alex Spellane, a prominent figure in the gold trading industry. The discussion delves deep into the intersection of gold trading, cryptocurrency, and the challenges faced by traders in today's financial landscape.

The Significance of Gold in History and Modern Times

Alex begins by exploring the historical importance of gold, touching upon intriguing theories about its role in ancient civilizations.

Alex Spellane [01:00]: "People speculate that the Egyptians were visited by extraterrestrials to help build the pyramids. The reason they were so fond of gold is because the aliens came to Earth for gold."

He further elaborates on the unique properties of gold, highlighting its non-magnetic nature and its purported use in alien spacecraft:

Alex Spellane [01:00]: "Gold doesn't have a magnetic pole, which is why some believe it's used for alien spacecraft and other advanced technologies."

Gold vs. Cryptocurrency: A Comparative Analysis

The conversation seamlessly transitions to the realm of cryptocurrency, where both Sean and Alex share their experiences and perspectives.

Sean Kelly [02:31]: "Speaking of crypto, it's nice to finally have a government administration that is pro-crypto."

Alex Spellane [02:35]: "They are pro-gold too. There's a reason people shouldn't be... it's about having unnecessary control over people."

Alex discusses the government's stance on cryptocurrency and gold, suggesting that regulatory resistance stems from the desire to maintain control over financial transactions.

Challenges Faced by Gold Traders

One of the critical issues highlighted is the difficulty gold traders face in maintaining banking relationships.

Alex Spellane [03:12]: "If you try to open a bank account and say you do gold, they won't let you open the account."

Sean Kelly [03:45]: "My mom got banned because my Chase got banned. It's crazy."

This segment sheds light on the systemic barriers that gold traders encounter, leading to financial exclusion and operational hurdles.

Personal Experiences in the Crypto Space

Sean shares his journey in the cryptocurrency market, emphasizing his successes and the volatility inherent in the space.

Sean Kelly [04:00]: "I got in at like 2000, I think. So I doubled up."

Conversely, Alex recounts a significant setback in a crypto project:

Alex Spellane [05:04]: "I just got scammed out like 500 grand. They ended up delivering, but there was a rug pull and I lost another 500 grand."

These anecdotes highlight the unpredictable nature of cryptocurrency investments compared to the stability often associated with gold.

Gold Trading Strategies and Market Insights

Alex provides a deep dive into effective gold trading strategies and the nuances of the gold market.

Alex Spellane [06:36]: "The only time you can really mark up something is when you have something unique."

He discusses the challenges of competing with easily accessible gold products and the importance of offering unique collectibles to maintain profitability.

The Future of Gold and Cryptocurrency

The dialogue shifts to future prospects, where both guests speculate on the sustainability and growth of gold and cryptocurrency markets.

Sean Kelly [07:36]: "I was watching a gold versus crypto debate and the guy, the crypto guy was like, there's gold on other planets and eventually we're going to be a multi-planetary species."

Alex Spellane [08:00]: "There’s only enough gold in the world to fill two Olympic-sized swimming pools."

Alex emphasizes the finite nature of gold reserves, contrasting it with the abundance of silver and the speculative future of extraterrestrial gold.

Unique Gold Products and Innovations

A significant portion of the conversation focuses on Alex's venture, which specializes in unique gold coins.

Alex Spellane [10:58]: "I designed this coin. This is a laser etching. If you just open this, you can see my initials on it."

He showcases specially designed coins with features like reverse proof finishes and laser etching, which add value and uniqueness to his products.

Community Engagement and Marketing

Alex shares his strategies for community engagement and marketing within the gold trading sphere.

Alex Spellane [10:04]: "I give a 16-year-old kid $2,000 of silver today. On stage when I spoke, I said, hey, the first person that texts metals to 26786, the first person we get, we are going to give you $2,000 of free silver at our booth."

This initiative underscores his commitment to integrity and community building, fostering trust and loyalty among his audience.

Conclusion and Future Episodes

As the episode wraps up, Alex hints at upcoming topics that will further explore the dynamics of the gold market under new political climates.

Alex Spellane [10:04]: "We're going to talk about the truth about Gold now that Trump is president and where the market's at."

Listeners are encouraged to visit FisherCapitalGroup.com for more information and to stay updated on future discussions.

Notable Quotes

• Alex Spellane [01:00]: "Gold is something precious. When you hold it, you don't want to let it go."

• Sean Kelly [02:31]: "It's nice to finally have a government administration that is pro-crypto."

• Alex Spellane [03:12]: "If you try to open a bank account and say you do gold, they won't let you open the account."

• Sean Kelly [04:00]: "I doubled up."

• Alex Spellane [05:14]: "I just got scammed out like 500 grand."

• Alex Spellane [06:36]: "The only time you can really mark up something is when you have something unique."

• Alex Spellane [08:00]: "There’s only enough gold in the world to fill two Olympic-sized swimming pools."

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This episode offers a profound exploration of the challenges and opportunities within the gold trading and cryptocurrency sectors. Sean Kelly and Alex Spellane provide listeners with valuable insights into navigating financial landscapes, the importance of unique offerings in the gold market, and the enduring significance of gold in both historical and modern contexts.

Transcript

[A]

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[C]

Believe because gold doesn't have a magnetic pole that it's used for alien spacecrafts and stuff like that.

[D]

Wow.

[C]

That's another theory of like why it's gold is so important to Egypt. People that speculate though the Egyptians were visited by extraterrestrials to help them build these pyramids. The reason they were so fond of gold is because the aliens came to Earth for gold. Have my initials on these. These are from the New Zealand mint. They're legal currency there.

[D]

Oh, wow.

[C]

But I designed this coin. It's a black marlin. It's got a reverse proof finish.

[D]

These are dope pretty coins. Wow.

[C]

But here you go. Yeah.

[D]

Enjoy that black marlin. Is this your spirit animal?

[C]

Well, it's. It's the fastest fish in the sea actually. I mean reportedly. Right.

[D]

Wait, this is proud of you.

[C]

It's King Charles. So ever since the queen dive, they play King Charles and everything.

[D]

Got it.

[C]

Yeah. Who.

[D]

Who's been your favorite interview this conference so far?

[C]

Oh my God. Probably Bruce was a really good one to be honest with you. Probably the co founder of Old Glory bank. Just because you know him and I see we have the same exact mission. Yeah, it's. It's all about getting delivering clients from a machine. Which I know resonate with you because you do crypto and just getting their independence back and not having to worry about being targeted for the conservative values they have. Yeah.

[D]

Speaking of crypto, it's nice to finally have a government administration that is Pro crypto.

[C]

Yeah.

[D]

You know, and they're pro gold too.

[C]

Yeah, it's true. I mean, there's a reason that people shouldn't be. It's other than trying to have an. An unnecessary amount of control over people. Right. It's the only explanation anyway. Like, why would they. Why would they not want cryptocurrency companies to thrive? Why would they not want people to own gold? Well, it's because they can't regulate it and they can't really control where the flow of the transactions.

[D]

Let me ask you this, since you're in the gold space. So a lot of people in the crypto space are being debanked. They're losing their banks, they're shutting them down. Has that happened to people in the gold space?

[C]

Yeah.

[D]

Crazy, right?

[C]

Yeah, like for our processing. I had a good relationship with my bank. If you try to open a bank account and you say you do gold, they won't let you open the account. What?

[D]

Yeah, gold is such a stable asset. That makes no sense.

[C]

And they say like, oh, we don't want to deal with anyone that's trading commodities. I'm like, no, I sell coins. So I had a friend try to open a side business that we were like doing something with and they wouldn't open her account either.

[D]

My mom got banned because my Chase got banned and I spent her like a cell, I guess one time. Like, not even crypto related, but she got banned.

[C]

Yeah.

[D]

It's crazy, bro. My mom.

[C]

What crypto did you make the most money on? Bitcoin?

[D]

Ethereum.

[C]

Really? Yeah.

[D]

I got in at like 2000, I think. So I doubled up.

[C]

Yeah. That's insane, bro.

[D]

I mean, people got in way earlier than that. But I just went all in. I take a lot of this. Not as much as I do. I'm 27 now.

[C]

But the only money I made in crypto was on Hex.

[D]

Yeah. Is that one still around?

[C]

It is. It started popping again recently. He tried to. Richard Hart created Hex. He created an exchange to compete with the Ethereum network to lower gas fees.

[D]

Okay.

[C]

It's called the Pulsechain network. And he did an airdrop of coins for people who sacrifice for the project. So to raise money, you basically sent your money as a sacrifice to this wallet. And then the promise was that your token address would then have an airdrop of pulse chain coins, which is like the Ethereum token for this network. Right. It's like the main. What would you call that? The main net or whatever. Yeah. So it's the main token of the of the network.

[D]

Yeah.

[C]

And get a launch date. Didn't launch. And I was like, I just got scammed out like 500 grand. And they ended up delivering.

[D]

Wow. That doesn't happen in crypto.

[C]

Yeah, delivering. And then there was a rug pull and I got out and my head swing down. I bought more when I dip, but it just kept crashing. So I put like 80 grand in. I took it to 1.2. I sacrificed like half of that 550 grand or whatever it was. I lost another 500 grand. Then I got that 500 grand back. So I walked away off 80 grand with like 550k. So actually 580k, that's my only experience with crypto.

[D]

You've made more off gold?

[C]

Yeah, I have, yeah.

[D]

When did you get. When, when was the first gold. What was the first gold purchase you made? How old are you?

[C]

27.

[D]

Wow. So my age and I'm bounded by gold for the first time too.

[C]

Yeah.

[D]

Through you guys.

[C]

So yeah, I'll get you.

[B]

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[C]

A really good deal. Like, I mean we have, obviously the products we make the most money on are stuff like this. That's collectible. Ish.

[D]

Yeah, right.

[C]

Because I can get it for the same price as common bullion. But if you go and look up like, oh, what should I pay for a gold American eagle or a gold maple leaf or a gold bar? Those products are so shoppable you can't really mark them up. Right. Because then someone will say, I found it cheaper. I'm not going to buy it from you. So the only time you can really mark up something is when you have something unique.

[D]

Yeah. People getting ripped off if they go to like a we buy gold store to buy gold.

[C]

Yes and no.

[D]

Not really.

[C]

Yes and no.

[D]

Some of them probably do.

[C]

You just got to be careful, man. And I mean, you gotta understand those smaller shops, they have to pay for the location and they keep the lights on. They don't do it on a national scale. Right. So they, they typically make a lot of their money based on people who walk in wanting to sell gold and they give them a bad deal on the buyback. Yeah. And it's like the client that walks in is there because it's like, well, it's my best option. So they just sell it for cheaper and then they resell it for more.

[D]

I was watching a gold versus crypto debate and the guy, the crypto guy was like, there's gold on other planets and eventually we're going to be a multi planetary species. Have you seen this take?

[C]

No.

[D]

It's interesting.

[C]

I've heard that theory. Yeah.

[D]

But that's not. I can't see that being in our generation. You know what I mean? Even if it's.

[C]

Unless they come here, right? Yeah, unless.

[D]

Plus, who knows how much gold is out there in the galaxy.

[C]

So many people believe because gold doesn't have a magnetic pole, that it's used for alien spacecrafts and stuff like that.

[D]

Wow.

[C]

That's another theory of, like, why it built it so important to Egypt. People that speculate, though the Egyptians were visited by extraterrestrials to help them build these pyramids. The reason they were so fond of gold is because the aliens came to Earth for gold. Yeah, that's a theory.

[D]

Wow. So gold goes back really far in history. That's interesting.

[C]

Yeah, I mean, it's. It's. You know that song that's in a Rudolph movie? Like, how do you measure its worth just by the pleasure of bringing silver and gold. And it's true. When you get it in your hand and you hold it, there's something precious about it. You don't want to let it go.

[D]

It does feel different. It's like an energetic thing.

[C]

Yeah, energetic is a great.

[D]

Now you got companies burn it through it. Right. It's in every iPhone now. So is the supply getting smaller? Smaller?

[C]

There's a finite supplier that said that there's only enough gold in the world. All the gold that exists in the world is only enough to fill two Olympic sized swimming pools.

[D]

Wow. That's.

[C]

Silver is much more abundant.

[D]

Wow.

[C]

So it is finite.

[D]

It's really not much at all. That makes sense why it's way more expensive than silver at all. Silver's.

[C]

Well, if you look at the size of Olympic swing pool, it's big. Two of them. It's pretty big. But most gold isn't 100% pure anyway.

[D]

Right. It's melted down or something.

[C]

What's the long chain I'm wearing? This is 14. No, it's 18 karat. 14. 18. Something like that. Which means that it's. It's got other alloys in it because it's gold soft. Some people like this is 18. If it's any softer than 18, it, it scratches and dents so easily. It's such a soft metal. Yeah. So like if you drop a gold coin on the ground, it's going to dent very.

[D]

So soft. Interesting.

[C]

It'll even chip off. Like flakes of gold will come off of it.

[D]

Damn.

[C]

If it's, if it's pure enough.

[D]

That's nice.

[C]

Yeah.

[D]

What are you going to talk about tomorrow morning?

[C]

We're going to talk about, it's called the truth about Gold now that Trump is president and we're just going to talk about where the market's at, the industry, it gives the people an opportunity to meet our team and to get some free silver. I give a 16 year old kid $2,000 of silver today.

[D]

What?

[C]

So on stage when I spoke, I said, hey, the first person that text metals to 26786, the first person that we get, we are going to give you $2,000 of free silver at our booth. And as a man of my word, I mean obviously there's no way for them to track it, but I think.

[D]

About like a thousand texts.

[C]

It's about integrity and yeah, I'm grateful for the opt ins. Right.

[D]

So it's a cool coin, bro.

[C]

Thanks man. I love that coin. That's my initials on it. I have an old credit. Super hard to see but you see the writing in the wave, it says ams super one to see.

[D]

Nice.

[C]

But that's my initials, Alexander Marcos Filane. So I designed this coin. This is a laser etching actually. If you just you open this, you can see.

[D]

So this is silver.

[C]

This is pure silver. Wow. There's a little opening right there.

[D]

So you gave him a lot of these if it was $2,000, four tubes.

[C]

Because I gave them to him at what we sell them for.

[D]

Not what I bought it still.

[C]

But this one was when I opened up.

[D]

It's all good. We got hostage.

[C]

But yeah guys, so this one, hold it on the edge. But if you see there.

[D]

Oh, it's ridge. Wow.

[C]

It's called reeds. And that's so like they put reeds on coins so that people can't shave the sides of them. You'll know if it's shaved. That's a super crisp coin.

[D]

So people were shaving these back in the day?

[C]

Yeah, yeah.

[D]

To get the silver.

[C]

Yeah. I'm just like at my Marana gold standard. If you're turning gold. Right. You could shave it and after you shave enough of them, every coin a little bit, you can accumulate like you know, an ounce of gold. So this is a laser etching on the coin and the way it looks black that gives an appearance. It's called a reverse proof finish. So those, those are very unique features of the coin that justify a markup that I can charge for it because you can't buy another coin like this.

[D]

That makes sense.

[C]

Yeah.

[D]

So dude, where can people find the site and learn more about you?

[C]

FisherCapitalGroup.com so we'll link it there.

[D]

So watch your guys.

[A]

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