WEBVTT 00:00:00.000 --> 00:00:03.459 Welcome back to The Deep Dive. Today, we're diving 00:00:03.459 --> 00:00:05.400 into something that's critical for long -term 00:00:05.400 --> 00:00:08.619 financial health, navigating the really complicated 00:00:08.619 --> 00:00:11.900 world of gold IRA companies. It is complicated. 00:00:12.140 --> 00:00:15.480 Absolutely. You've given us a huge stack of expert 00:00:15.480 --> 00:00:18.280 analysis, comparison ratings, the works. I mean, 00:00:18.519 --> 00:00:21.140 this research covers over 80 companies going 00:00:21.140 --> 00:00:24.160 all the way back to 2011. Right. So our mission 00:00:24.160 --> 00:00:27.359 today is to boil all of that down to pull out 00:00:27.359 --> 00:00:29.710 the essential knowledge you need to you know, 00:00:29.809 --> 00:00:32.450 make a really competent decision about safeguarding 00:00:32.450 --> 00:00:34.329 your retirement. And it's high -stake stuff. 00:00:34.490 --> 00:00:35.609 I mean, when you're talking about retirement 00:00:35.609 --> 00:00:38.189 funds, especially trying to protect against economic 00:00:38.189 --> 00:00:41.219 uncertainty. Choosing the right provider. It's 00:00:41.219 --> 00:00:43.179 just the most important step Okay, so let's start 00:00:43.179 --> 00:00:45.359 with the absolute foundation before we even get 00:00:45.359 --> 00:00:48.100 into comparing company a versus company B We 00:00:48.100 --> 00:00:50.079 have to talk about the two critical roles involved 00:00:50.079 --> 00:00:52.259 people get these confused all the time They do 00:00:52.259 --> 00:00:54.600 and it's it's the number one source of confusion 00:00:54.600 --> 00:00:56.859 You have the gold IRA company on one hand and 00:00:56.859 --> 00:00:58.759 then you have the custodian right think of the 00:00:58.759 --> 00:01:03.600 gold IRA company as your your guide your concierge 00:01:03.759 --> 00:01:05.500 They're the ones doing the paperwork for the 00:01:05.500 --> 00:01:07.939 account setup, advising you on which gold or 00:01:07.939 --> 00:01:10.439 silver is IRA eligible, and then coordinating 00:01:10.439 --> 00:01:12.840 all the logistics. So they're the people you're 00:01:12.840 --> 00:01:14.799 actually talking to on the phone, the sales and 00:01:14.799 --> 00:01:17.680 education side. Exactly. They are the relationship. 00:01:18.319 --> 00:01:21.819 The custodian, on the other hand, is, well, they're 00:01:21.819 --> 00:01:24.239 kind of behind the scenes. They have to be an 00:01:24.239 --> 00:01:27.159 IRS -approved financial institution. So like 00:01:27.159 --> 00:01:30.700 a bank or a trust company? Precisely. They are 00:01:30.700 --> 00:01:33.219 the legal administrator. Their job is security, 00:01:33.480 --> 00:01:35.959 compliance, and all the IRS reporting. They're 00:01:35.959 --> 00:01:38.340 the ones who actually make sure your gold is 00:01:38.340 --> 00:01:41.340 physically safe in a vault somewhere. And, this 00:01:41.340 --> 00:01:43.780 is crucial, they do not sell you gold. That's 00:01:43.780 --> 00:01:45.900 a key distinction. So one is the advisor, the 00:01:45.900 --> 00:01:47.819 other is the legal administrator. That split 00:01:47.819 --> 00:01:49.980 really clarifies the whole compliance structure. 00:01:50.060 --> 00:01:52.569 It has to be that way. The sources lay out, you 00:01:52.569 --> 00:01:54.750 know, a six step process and that compliance 00:01:54.750 --> 00:01:56.650 piece is built in right from the very beginning. 00:01:56.790 --> 00:01:58.609 And part of that is the storage, right? You can't 00:01:58.609 --> 00:02:01.590 just take the gold home. Oh, absolutely not. 00:02:01.629 --> 00:02:04.069 That's a huge point. The investor is strictly 00:02:04.069 --> 00:02:06.349 prohibited from taking physical possession. The 00:02:06.349 --> 00:02:10.909 moment you do, it disqualifies the IRA's tax 00:02:10.909 --> 00:02:13.289 status completely. The custodian arranges for 00:02:13.289 --> 00:02:16.650 it to be held in a secure, IRS approved depository. 00:02:16.889 --> 00:02:19.509 That is mandatory. Got it. OK, that makes the 00:02:19.509 --> 00:02:23.530 logistics much clearer. So now, how do we separate 00:02:23.530 --> 00:02:27.030 the good companies from the bad ones? The sources 00:02:27.030 --> 00:02:29.310 you shared filtered through, what, over 80 companies? 00:02:29.650 --> 00:02:32.669 Yeah, quite a few. And the analyst Doug Young 00:02:32.669 --> 00:02:35.150 used a really rigorous methodology to do it. 00:02:35.259 --> 00:02:37.180 What were the criteria? I mean, what created 00:02:37.180 --> 00:02:40.360 that firewall of trust? He focused on five very 00:02:40.360 --> 00:02:42.340 specific pillars. And these aren't just subjective 00:02:42.340 --> 00:02:44.539 feelings. They're measurable standards that point 00:02:44.539 --> 00:02:47.080 to a company's stability and integrity. OK, so 00:02:47.080 --> 00:02:49.000 what's number one? The first, and it's the most 00:02:49.000 --> 00:02:52.580 basic, is reputation and accreditation. So looking 00:02:52.580 --> 00:02:54.699 for top ratings from the Better Business Bureau, 00:02:54.900 --> 00:02:57.960 the Business Consumer Alliance, and just as important, 00:02:58.280 --> 00:03:00.360 a really clean, minimal complaint history. So 00:03:00.360 --> 00:03:03.020 a long track record with happy customers. A company 00:03:03.020 --> 00:03:05.939 that's been around since, say, 2011 with almost 00:03:05.939 --> 00:03:09.610 no complaints. That's a massive signal of trustworthiness. 00:03:09.889 --> 00:03:11.590 Okay, that's the baseline. What's the second 00:03:11.590 --> 00:03:14.229 criterion? Regulatory compliance. This one's 00:03:14.229 --> 00:03:16.729 completely non -negotiable. It means they follow 00:03:16.729 --> 00:03:19.169 every single IRS rule, they have the right licenses, 00:03:19.629 --> 00:03:21.969 they have verifiable partnerships with custodians, 00:03:22.449 --> 00:03:24.889 and they only sell precious metals that meet 00:03:24.889 --> 00:03:27.310 the IRS purity standards. Right, because not 00:03:27.310 --> 00:03:29.330 all gold coins are eligible. Not at all. If they 00:03:29.330 --> 00:03:30.810 sell you the wrong thing, your whole investment 00:03:30.810 --> 00:03:32.650 is basically a liability. Okay, and the third 00:03:32.650 --> 00:03:35.770 one has to be about money. The cost. Transparent 00:03:35.770 --> 00:03:38.449 fee structures, exactly. The analysis really 00:03:38.449 --> 00:03:40.370 prioritized companies that were just upfront 00:03:40.370 --> 00:03:43.870 about every single cost. Setup fees, annual fees, 00:03:44.370 --> 00:03:46.710 storage fees. What's the typical range for storage, 00:03:46.729 --> 00:03:49.150 by the way? It usually runs from about $100 to 00:03:49.150 --> 00:03:52.830 maybe $180 per year. But the key thing the sources 00:03:52.830 --> 00:03:55.530 preferred, and this is important, was flat rate 00:03:55.530 --> 00:03:58.189 fees. Flat rate fees. Why is that structure so 00:03:58.189 --> 00:04:00.270 much better for an investor? Well, it's about 00:04:00.270 --> 00:04:03.219 predictability and scale. If you have a large 00:04:03.219 --> 00:04:06.139 portfolio, say half a million dollars in metals, 00:04:06.960 --> 00:04:09.960 a fee based on a percentage of that can really 00:04:09.960 --> 00:04:12.139 start to eat away at your returns, especially 00:04:12.139 --> 00:04:14.699 as the value grows. I see. But if you're just 00:04:14.699 --> 00:04:18.579 paying a flat, say $250 a year, whether you have 00:04:18.579 --> 00:04:21.420 a hundred grand or a million in there, Your costs 00:04:21.420 --> 00:04:24.759 are fixed. Your net return is protected. It signals 00:04:24.759 --> 00:04:26.980 the company wants a long -term relationship, 00:04:27.439 --> 00:04:30.000 not just to, you know, squeeze value out of your 00:04:30.000 --> 00:04:32.680 growing assets. That makes a ton of sense. Okay, 00:04:32.740 --> 00:04:35.259 what about number four, the customer experience? 00:04:35.699 --> 00:04:38.279 Customer support and education. The top companies, 00:04:38.279 --> 00:04:40.899 they have to provide real investor education, 00:04:41.100 --> 00:04:43.560 not just a brochure. They offer one -on -one 00:04:43.560 --> 00:04:46.000 consultations and, importantly, lifetime client 00:04:46.000 --> 00:04:48.779 support. It's a world away from the high pressure 00:04:48.779 --> 00:04:51.180 sales tactics you see elsewhere. Building a relationship, 00:04:51.259 --> 00:04:53.699 not just making a sale. Exactly. And the fifth 00:04:53.699 --> 00:04:55.339 and final one just circles right back to the 00:04:55.339 --> 00:04:57.019 physical safety of the method. Secure storage 00:04:57.019 --> 00:05:00.040 compliance. Yep. The company has to be partnered 00:05:00.040 --> 00:05:03.500 with IRS -approved depositories. These places 00:05:03.500 --> 00:05:05.779 have full insurance. They get regular third -party 00:05:05.779 --> 00:05:09.740 audits. But there's a term here we need to clarify. 00:05:10.180 --> 00:05:14.160 Let me guess. Segregated storage. That's the 00:05:14.160 --> 00:05:16.500 one. It came up again and again. So what does 00:05:16.500 --> 00:05:18.959 that actually mean for me as an investor? Is 00:05:18.959 --> 00:05:21.139 my gold bar sitting there with my name on it? 00:05:21.540 --> 00:05:23.899 That's pretty much it. With non -segregated, 00:05:24.000 --> 00:05:26.399 your metals are sort of pooled with everyone 00:05:26.399 --> 00:05:29.420 else's. You own a proportional value. But with 00:05:29.420 --> 00:05:32.420 segregated storage, the specific bars or coins 00:05:32.420 --> 00:05:34.959 that you bought are put aside in their own space, 00:05:35.279 --> 00:05:37.819 uniquely identified. It's yours and yours alone. 00:05:38.279 --> 00:05:40.319 So it's the highest level of assurance, but I'm 00:05:40.319 --> 00:05:42.839 guessing it costs a little more. Usually, yeah, 00:05:42.899 --> 00:05:45.459 a bit more annually, but it guarantees the unique 00:05:45.459 --> 00:05:47.740 identity of your holding. OK, so this brings 00:05:47.740 --> 00:05:49.939 up another big question. Before we get to the 00:05:49.939 --> 00:05:51.899 top companies, what kinds of gold IRAs are there? 00:05:52.139 --> 00:05:54.060 I mean, the tax implications must be totally 00:05:54.060 --> 00:05:55.939 different depending on the account. Oh, huge 00:05:55.939 --> 00:05:57.899 difference. And it's a critical planning point. 00:05:57.939 --> 00:06:00.540 You've got three main types. First is the traditional 00:06:00.540 --> 00:06:03.420 gold IRA that's funded with pre -tax money. So 00:06:03.420 --> 00:06:05.740 your contributions are tax deductible now. it 00:06:05.740 --> 00:06:08.259 grows tax deferred, and you pay income tax when 00:06:08.259 --> 00:06:10.300 you take the money out in retirement. So that's 00:06:10.300 --> 00:06:12.639 best if you think you'll be in a lower tax bracket 00:06:12.639 --> 00:06:14.660 when you retire. Correct. Then you have the flip 00:06:14.660 --> 00:06:18.259 side, the Rothgold IRA. Funded with after -tax 00:06:18.259 --> 00:06:20.860 money. Exactly. You don't get the tax break now, 00:06:21.199 --> 00:06:24.120 but the big prize is that your qualified withdrawals 00:06:24.120 --> 00:06:27.730 in retirement are 100 % tax -free. And there 00:06:27.730 --> 00:06:30.269 are no required minimum distributions. So the 00:06:30.269 --> 00:06:33.089 Roth is for people who think their income or 00:06:33.089 --> 00:06:35.529 tax rates in general are going to be higher down 00:06:35.529 --> 00:06:37.649 the road. That's the ideal use case. And then 00:06:37.649 --> 00:06:40.829 the third one is the SEP Gold IRA. That's for 00:06:40.829 --> 00:06:43.009 who? The self -employed and small business owners. 00:06:43.569 --> 00:06:46.810 Its big advantage is much, much higher contribution 00:06:46.810 --> 00:06:49.170 limits. The tax treatment, though, is basically 00:06:49.170 --> 00:06:52.350 the same as traditional IRA. OK. So we've got 00:06:52.350 --> 00:06:54.990 the rules, the rules, the tax options. Now for 00:06:54.990 --> 00:06:57.040 the main event. Let's see who actually came out 00:06:57.040 --> 00:06:59.379 on top in this analysis. Who's number one? The 00:06:59.379 --> 00:07:01.519 clear winner, according to the research, was 00:07:01.519 --> 00:07:04.579 Augusta Precious Metals. They've picked up a 00:07:04.579 --> 00:07:07.439 lot of accolades, like being named best overall 00:07:07.439 --> 00:07:10.420 gold IRA company by Money Magazine for, what, 00:07:10.579 --> 00:07:12.420 three years running now? Three years in a row. 00:07:12.459 --> 00:07:15.019 So what makes them so special? What are the differentiators? 00:07:15.279 --> 00:07:17.339 It really comes down to this kind of white glove 00:07:17.339 --> 00:07:21.480 personalized service. Their unique thing is lifetime 00:07:21.480 --> 00:07:24.949 account support. and these private one -on -one 00:07:24.949 --> 00:07:27.949 web conferences with their Harvard -trained economist 00:07:27.949 --> 00:07:30.550 Devlin Steele. The Harvard -trained economist. 00:07:30.850 --> 00:07:33.430 Yeah, their commitment to pure client education 00:07:33.430 --> 00:07:37.029 is just unmatched. Plus, they have perfect A 00:07:37.029 --> 00:07:39.370 -plus and triple A ratings with literally zero 00:07:39.370 --> 00:07:41.720 complaints since they were founded. Wow. Zero 00:07:41.720 --> 00:07:44.319 complaints is impressive, but the sources mentioned 00:07:44.319 --> 00:07:46.480 a pretty significant barrier to entry, didn't 00:07:46.480 --> 00:07:49.319 they? They did. Augusta has a high minimum investment 00:07:49.319 --> 00:07:52.300 of $50 ,000. $50 ,000, OK. And that's the trade 00:07:52.300 --> 00:07:54.920 -off. They can offer that premium economist -led 00:07:54.920 --> 00:07:56.860 service because they're dealing with clients 00:07:56.860 --> 00:07:59.560 who have more capital. It lets them keep a really 00:07:59.560 --> 00:08:02.699 low client -to -advisor ratio. So the high minimum 00:08:02.699 --> 00:08:04.939 actually pays for that superior service model. 00:08:05.300 --> 00:08:08.180 What about their fees? Very transparent. It's 00:08:08.180 --> 00:08:11.439 a $50 one -time application fee, $100 to $25 00:08:11.439 --> 00:08:14.500 for the annual custodian fee, and then $100 or 00:08:14.500 --> 00:08:17.120 $150 for storage, depending on if you choose 00:08:17.120 --> 00:08:19.040 segregated. And they have that incentive, right? 00:08:19.180 --> 00:08:22.060 A huge one. For qualifying clients, they'll cover 00:08:22.060 --> 00:08:24.959 all your annual fees for up to 10 years. Oh. 00:08:25.139 --> 00:08:27.699 Which, I mean, that can save you thousands over 00:08:27.699 --> 00:08:30.459 a decade. OK, let's move on to number two, Gold 00:08:30.459 --> 00:08:34.669 Co. They were named best for minimum investment. 00:08:34.830 --> 00:08:37.450 So a totally different target audience completely 00:08:37.450 --> 00:08:41.049 different Gold Co is for a much broader group 00:08:41.049 --> 00:08:43.070 of investors because they have no published minimum 00:08:43.070 --> 00:08:45.450 investment No minimum, right and they're really 00:08:45.450 --> 00:08:47.669 known for making the rollover process seamless 00:08:47.669 --> 00:08:50.750 Plus they offer an exceptional guaranteed buyback 00:08:50.750 --> 00:08:53.659 program But I have to ask, one of the key criteria 00:08:53.659 --> 00:08:56.519 was transparent fees. The research notes that 00:08:56.519 --> 00:08:58.620 GoldCode doesn't really publish their fees online. 00:08:58.700 --> 00:09:00.799 You have to call them. Doesn't that kind of go 00:09:00.799 --> 00:09:04.080 against the whole transparency thing? That is 00:09:04.080 --> 00:09:06.440 a really sharp observation, and it highlights 00:09:06.440 --> 00:09:08.600 the trade -offs. The analysts still rate them 00:09:08.600 --> 00:09:10.899 very highly for their service and that buyback 00:09:10.899 --> 00:09:13.879 guarantee. But yes, the lack of published pricing 00:09:13.879 --> 00:09:15.799 is a sticking point. So what's their thinking? 00:09:16.580 --> 00:09:19.000 It seems they prioritize getting a potential 00:09:19.000 --> 00:09:21.659 client on the phone. to give them a tailored 00:09:21.659 --> 00:09:24.580 quote rather than just putting a price list online. 00:09:25.360 --> 00:09:27.720 It just means for you, the investor, you have 00:09:27.720 --> 00:09:29.799 to do a little more work to compare their quote 00:09:29.799 --> 00:09:32.860 against, say, Augusta's published fees. Got it. 00:09:33.480 --> 00:09:36.360 Okay, and finally, number three, American Hartford 00:09:36.360 --> 00:09:40.320 Gold or HG. They're best for flexible product 00:09:40.320 --> 00:09:43.759 offerings. Right. HG has seen just explosive 00:09:43.759 --> 00:09:45.399 growth. They kind of sit in the middle ground. 00:09:45.519 --> 00:09:48.879 Their IRA minimum is lower at $10 ,000. And their 00:09:48.879 --> 00:09:52.179 flexibility comes from their products? Yeah, 00:09:52.179 --> 00:09:53.960 they offer some unique things. The main one is 00:09:53.960 --> 00:09:56.039 called the Valcambi Combi Bar. The Combi Bar. 00:09:56.059 --> 00:09:57.480 What is that exactly? They're pretty clever. 00:09:57.620 --> 00:09:59.960 It's a 50 grand gold bar that's pre -stamped 00:09:59.960 --> 00:10:02.360 so it can be easily broken into 50 little one 00:10:02.360 --> 00:10:04.200 grand pieces. Ah, so you don't have to sell a 00:10:04.200 --> 00:10:06.740 whole big bar at once. Exactly. It gives you 00:10:06.740 --> 00:10:08.440 fractional liquidity. If you only need a couple 00:10:08.440 --> 00:10:10.539 thousand dollars in cash, you can just break 00:10:10.539 --> 00:10:12.679 off a few grams and sell them, leaving the rest 00:10:12.679 --> 00:10:15.080 of your investment untouched. It offers a ton 00:10:15.080 --> 00:10:17.440 of practical flexibility. That is a powerful 00:10:17.440 --> 00:10:20.440 feature. What are the cons with American Hartford 00:10:20.440 --> 00:10:23.340 Gold? It's similar to Goldco. They also don't 00:10:23.340 --> 00:10:25.340 publish their specific pricing online, so you 00:10:25.340 --> 00:10:27.919 have to call for a quote. And their product selection 00:10:27.919 --> 00:10:30.340 is a bit more limited. They have gold and silver, 00:10:30.899 --> 00:10:33.899 some platinum, but no palladium. OK, so once 00:10:33.899 --> 00:10:36.059 an investor picks a company, let's talk about 00:10:36.059 --> 00:10:38.120 funding the account. You mentioned rollovers. 00:10:38.480 --> 00:10:40.799 The sources said one method is way safer than 00:10:40.799 --> 00:10:44.259 the other. By far. The safest is the direct rollover. 00:10:44.559 --> 00:10:46.279 This is where the money moves straight from your 00:10:46.279 --> 00:10:49.779 old 401k custodian to your new gold IRA custodian. 00:10:49.960 --> 00:10:52.100 So the money never touches your hands. Never. 00:10:52.179 --> 00:10:54.820 It's the simplest way, and it completely avoids 00:10:54.820 --> 00:10:57.379 any risk of taxes or penalties. And the riskier 00:10:57.379 --> 00:10:59.919 way. That's the indirect rollover. In this case, 00:10:59.919 --> 00:11:02.629 you actually receive the funds yourself. The 00:11:02.629 --> 00:11:04.850 huge risk here is you have to deposit that money 00:11:04.850 --> 00:11:07.610 into the new IRA within a very strict 60 day 00:11:07.610 --> 00:11:11.610 window. 60 days? That sounds tight. It is. If 00:11:11.610 --> 00:11:15.029 you miss that deadline by even one day, the entire 00:11:15.029 --> 00:11:17.309 amount is treated as a taxable distribution. 00:11:17.750 --> 00:11:20.070 You could get hit with income taxes and a 10 00:11:20.070 --> 00:11:22.750 percent early withdrawal penalty. It's just it's 00:11:22.750 --> 00:11:24.889 not worth the risk for most people. No kidding. 00:11:25.070 --> 00:11:27.769 The direct rollover is clearly the way to go. 00:11:28.110 --> 00:11:31.039 So. Fast forward a few decades. You're in retirement. 00:11:31.100 --> 00:11:34.059 You need cash. How does the buyback process work? 00:11:34.179 --> 00:11:37.000 It's a very coordinated process. First, you contact 00:11:37.000 --> 00:11:39.759 your gold IRA company and ask for a quote to 00:11:39.759 --> 00:11:42.120 sell. Okay. Then the custodian steps in. They 00:11:42.120 --> 00:11:44.120 verify everything's compliant, and they arrange 00:11:44.120 --> 00:11:46.200 to transfer the physical metal from the depository 00:11:46.200 --> 00:11:48.139 to the dealer who's buying it. So the physical 00:11:48.139 --> 00:11:50.860 asset moves, but the cash stays within the IRA. 00:11:51.440 --> 00:11:53.879 Precisely. The proceeds from the sale are credited 00:11:53.879 --> 00:11:56.860 right back into your IRA account as cash. And 00:11:56.860 --> 00:11:59.840 companies like GoldCo, and AHG with their guaranteed 00:11:59.840 --> 00:12:02.179 buyback programs, they give you that extra piece 00:12:02.179 --> 00:12:04.460 of mind that there will always be a buyer. So 00:12:04.460 --> 00:12:07.080 if we bring it all together, what does this all 00:12:07.080 --> 00:12:09.139 mean for you, the listener? We've covered the 00:12:09.139 --> 00:12:11.100 foundation and the difference between the custodian 00:12:11.100 --> 00:12:13.840 and the company compliance. I think the main 00:12:13.840 --> 00:12:16.460 takeaway from all this research is that the best 00:12:16.460 --> 00:12:19.220 company really depends on you. It depends on 00:12:19.220 --> 00:12:20.919 your capital, what kind of service you want. 00:12:21.259 --> 00:12:24.019 If you have the $50 ,000 minimum and you want 00:12:24.019 --> 00:12:27.100 that deep educational support, Augusta was the 00:12:27.100 --> 00:12:29.899 clear top choice for the researcher. If you don't, 00:12:29.980 --> 00:12:32.299 if you don't or flexibility is more important. 00:12:32.639 --> 00:12:35.320 Gold Co and American Hartford Gold are very strong, 00:12:35.460 --> 00:12:37.720 compliant alternative. You just have to be prepared 00:12:37.720 --> 00:12:39.940 to get on the phone and do your due diligence 00:12:39.940 --> 00:12:42.480 comparing their fee quotes. Which brings us to 00:12:42.480 --> 00:12:44.840 our final provocative thought, something for 00:12:44.840 --> 00:12:46.940 you to think about. The source material points 00:12:46.940 --> 00:12:50.240 out that these secure IRS approved depositories, 00:12:50.399 --> 00:12:52.580 places like Brinks, the Delaware depository. 00:12:53.240 --> 00:12:56.639 They're often located far away from major financial 00:12:56.639 --> 00:12:58.879 and political centers like New York or Washington 00:12:58.879 --> 00:13:02.360 DC. So if the experts, the people whose job it 00:13:02.360 --> 00:13:05.340 is to physically safeguard this wealth, are deliberately 00:13:05.340 --> 00:13:07.919 choosing locations outside of the traditional 00:13:07.919 --> 00:13:11.159 hubs of banking and government, what's the implicit 00:13:11.159 --> 00:13:13.480 message they're sending about the safety of that 00:13:13.480 --> 00:13:16.080 conventional financial infrastructure? That is 00:13:16.080 --> 00:13:18.820 a question worth mulling over. Something to think 00:13:18.820 --> 00:13:21.299 about as you plan your own diversification strategy.