Digital Social Hour
Bank Bans Gold Traders? The Truth Nobody's Telling | Alex Spellane DSH #1062
Sun, 05 Jan 2025
Bank bans gold traders? 🚫💰 The truth nobody's telling you is shocking! Join Sean Kelly as he dives into the world of gold, crypto, and banking controversies. 🏦🔍 Discover why some banks are refusing to open accounts for gold traders and the surprising parallels with crypto debanking. 😱 You'll hear firsthand experiences from industry insiders and learn about the unexpected challenges facing precious metals dealers. But that's not all! This episode is packed with fascinating insights: • The link between gold and alien theories 👽🛸 • Crypto success stories and cautionary tales 📈💻 • The finite nature of gold and its impact on value 💎📊 • Unique coin designs and the art of numismatics 🪙✨ Don't miss out on this eye-opening conversation that blends finance, technology, and even a touch of the extraterrestrial! Watch now and subscribe for more insider secrets on the Digital Social Hour. 🚀 #GoldTrading #BankingControversies #CryptoDebanking #PreciousMetals #DigitalSocialHour #goldpriceprediction #goldanalysis #silverstacking #goldpriceanalysis #goldpriceforecast CHAPTERS: 00:00 - Alex’s Black Marlin Coin 00:56 - Alex’s Favorite Interview 06:07 - Gold vs Crypto Investment 08:30 - Tomorrow's Discussion Topics 10:58 - Finding Fisher Capital Group APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: Alex Spellane https://www.instagram.com/alexanderspellane LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/
Chapter 1: What is the significance of gold in alien theories?
People believe because gold doesn't have a magnetic pole that it's used for alien spacecrafts and stuff like that. Wow. That's another theory of like why gold is so important to Egypt. People that speculate though that 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.
Chapter 2: What unique coin does Alex Spellane showcase?
I have my initials on these. These are from the New Zealand Mint. They're legal currency there. Oh, wow. But I designed this coin. It's a black marlin. It's got a reverse proof finish. These are dope. Pretty coined. Wow. But here you go. Have one. Yeah, enjoy that.
Black marlin. Is this your spirit animal?
Well, it's the fastest fish in the sea, actually. I didn't know that. I mean, reportedly, right? Wait, this is supposed to be you? Ha ha ha. It's King Charles. Ever since the Queen died, it's like King Charles and everything. Got it. Yeah.
Who's been your favorite interview this conference so far?
Chapter 3: Who was Alex's favorite interview at the conference?
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.
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. Speaking of crypto, it's nice to finally have a government administration that is pro crypto. Yeah. You know, and they're pro gold too.
Yeah, it's true. I mean, There's no reason that people shouldn't be. It's other than trying to have an unnecessary amount of control over people, right? It's the only explanation anyway. 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 the flow of the transactions.
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? Yeah. Crazy, right? 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. Why? Yeah.
Bold is such a stable asset that makes no sense.
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Chapter 4: How are gold traders affected by banking policies?
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.
My mom got banned because my Chase got banned and I spent her like a sale, I guess one time, like not even crypto related, but she got banned.
Chapter 5: Why is gold considered a stable asset?
Yeah.
It's crazy, bro.
My mom. What crypto did you make the most money on? Bitcoin? Ethereum. Really?
Yeah. I got in LA 2000, I think. So I doubled up. Yeah. That's insane, bro. 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.
The only money I made in crypto was on hacks. I heard a whole.
Yeah. Is that one still around?
It is. It started popping again recently. Richard Hart created Hetz. He created an exchange to compete with the Ethereum network to lower gas fees. It's called the Pulse Chain Network. And he did an airdrop of coins for people who sacrificed for the project. So to raise money, you basically sent your money as a sacrifice to this wallet. Yeah.
And then the promise was that your token address would then have an airdrop of false chain coins, which is like the Ethereum token for this network, right? It's like the main... What would you call that? Mainnet or whatever. Yeah. So it's the main token of the network. Yeah. And... He had a launch date, didn't launch. And I was like, I just got scammed at like 500 grand.
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Chapter 6: What was Alex's experience with cryptocurrency investments?
And he ended up delivering.
Wow. That doesn't happen in crypto often. Yeah.
He ended up delivering. And then there was a rug pull and I got out and my head swung down. I bought more when I dipped, 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. It's actually 580K.
That's my only experience with crypto. You've made more off gold. Yeah, I have, yeah.
When did you get, when was the first gold, what was the first gold purchase you made? How old were you? 27. Wow. So my age. And I'm about to buy gold for the first time too. Yeah. For you guys, so.
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Chapter 7: When did Alex make his first gold purchase?
Yeah, it'll get you 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. Yeah. Right? 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.
Yeah. Are most people just getting ripped off if they go to like a We Buy Gold store to buy gold?
Chapter 8: What challenges do gold traders face in the market?
Yes and no.
Not really? Yes and no.
Some of them probably do. You just got to be careful, man. And I mean, you got to 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. So 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.
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.
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? No. It's interesting. I've heard that theory. Yeah, but that's not, I can't see that being in our generation. You know what I mean?
Even if it's true. Unless they come here, right?
Yeah. Plus who knows how much gold is out there in the galaxy.
So many people believe because gold doesn't have a magnetic pole that it's used to for alien spacecrafts and stuff like that. Wow. That's another theory of why gold is so important to Egypt. People that speculate, though, that 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. Wow, so gold goes back really far in history. That's interesting.
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