Mark welcomes Frank Holmes. Frank Holmes is the CEO and Chief Investment Officer of U.S. Global Investors. Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm’s chief investment officer in 1999.
In September 2017, Mr. Holmes was appointed as the non-executive chairman of the Board of Directors of HIVE Blockhchain Technologies, the world’s very first publicly-traded company involved in the mining of cryptocurrencies.
Follow Frank Holmes on social media:
https://twitter.com/bulldogholmes
http://www.youtube.com/USFunds
Outro: ”Goodnight, Sweetheart, Goodnight” – This score is in public domain and may be freely downloaded, printed, and performed. The sound file may be downloaded for personal use. For more information see https://lincolnlibraries.org/polley-music-library
Transcript:
(0:00) Hey, everybody, and welcome to another episode of Knocked Conscious. (0:04) Today, I had the pleasure of speaking with Frank Holmes. (0:07) He’s the executive chairman of Hive Digital.(0:09) It’s the first data mining company for Bitcoin to go public. (0:13) It was a great conversation. (0:15) This conversation was recorded on Thursday, July 11th.(0:19) Here it is. I hope you enjoy it. (0:21) I understand you were Frank first Holmes is what we’re going to call you if you’re (0:24) OK with that.You’re the first in everything, right? (0:28) Well, when it comes to crypto mining, that’s for sure. (0:30) I heard you were also first in gold, though. (0:32) Holly mentioned something about just being an early adopter.(0:35) The first no load gold fund. (0:37) Oh, my God. And first smart beta 2.0 ETFs.(0:43) So we have a superior gold stock picking ETF list in New York. (0:47) And our biggest one is Jets ETF. (0:49) Wow.So it tracks all the airlines and performs the New York Stock Exchange Global (0:54) Index. So the idea of playing a quant approach works. (0:58) And that’s what we do.(0:59) And that led me into Bitcoin because it’s related to gold. (1:03) And at the same time, it’s all math. (1:06) Yeah, it is.It is all math. (1:07) And what’s interesting about Bitcoin and gold, the beauty about gold is you have a (1:12) physical thing that you hold on to. (1:15) And Bitcoin ones and zeros.(1:17) And I’m a I’m a Gen Xer. (1:19) Right. Anyone, myself, boomers.(1:20) We don’t understand the physicality. (1:23) Right. We went, what’s an email? (1:24) No, we got a physical mail in the mail.(1:25) Right. How do you how do you meet that challenge of expressing like what Bitcoin, the (1:33) powers of Bitcoin, even though it’s not a physical thing to touch? (1:37) So there’s a wonderful system I spoke about this morning of looking at the world and (1:44) you can look at micro and individual stock and you can look at history. (1:48) And it’s called the complex adaptive system.(1:51) And the complex adaptive system is a mixture of biology. (1:55) It’s a mixture of social sciences and computer sciences. (1:59) And it is in Santa Fe.(2:02) It is a derivative of the Manhattan Project, which the movie Oppenheimer. (2:07) So it’s think tank. (2:08) And they’ve been able to identify four pillars that identify and say Amazon will grow (2:14) and prosper.It’s really just knows it’s going to happen. (2:18) So what are the things are important? (2:20) Right. Well, there’s the connectivity that we have.(2:22) Yeah, absolutely. That you and I were one on one becomes 11, not two. (2:28) So you have to have that hyper experience, that quantum leap, as they say, in physics.(2:32) Yeah. And it’s recognizing that groups of people can all of a sudden create a quantum (2:39) leap. Yeah.It’s almost like a collective consciousness, but not in a conscious way, but a (2:44) collective action, collective event, collective something where it emerges out of that. (2:50) And this adoption is phenomenal. (2:52) And that’s how actually viruses grow and spread.(2:55) That’s interesting. That’s how Walmart grew along the all the interstate highway system. (3:01) It grew versus their various target.(3:04) I will start the same time. (3:05) Walmart’s much bigger. (3:06) And I love that argument.(3:07) I remember I think I remember when Kmart, they wanted to get in the Kmart space. (3:12) And that’s obviously see where Kmart and Sears are. (3:14) Right.They wanted to get in that space. (3:16) They said, no, we’ve got these places. (3:18) So they went more urban.(3:20) And I think Target took that. (3:22) Or I’m sorry. Yeah, they went more rural.(3:24) Absolutely right. I’m sorry. (3:25) The Walmart went more rural and Kmart was more of an urban kind of base thing.(3:29) And I wonder if Target looked at the urbanism greater shot at it versus. (3:34) Well, they demographics to your the GDP per person. (3:38) OK, so that makes sense.(3:40) That was and they started to bring in people to design things for clothes or whatever. (3:46) A designer’s name to it. (3:48) But Walmart was really fascinating how how they grew that system.(3:52) But coming back to Bitcoin, you know, Bitcoin is like gold is decentralized and it’s like (3:59) Andy Warhol art. (4:01) No one’s one person controlling the art world. (4:04) And it’s about the adoption that someone says, well, we think that this artist is cool.(4:09) This artist is is has value because our adoption. (4:14) And there’s a law called Metcalfe’s law that says that if you limit the supply of any (4:18) piece of art or Bitcoin, as it is, and you get broader adoption, then the prices grow (4:24) exponentially. That would make sense.(4:26) And I think that that’s what was the wake up call. (4:29) The big wake up call for me because it was going to a consensus conference and seeing (4:35) 3,000 young people spend how much money and they had already made all this money in (4:40) another metaverse. (4:41) It wasn’t my world.(4:44) And it was like going on the movie scene of Star Wars into the bar scene of Jabba the (4:50) Hut. Yes. (4:51) All the weird characters.(4:53) Well, that’s what I walked into. (4:54) And I start to realize that they have built this Web three. (5:00) And it’s because these kids grew up as gamers.(5:03) And when they went to bed, there was 30 million kids mining Ethereum, 30 million, 30 (5:09) million. They go to sleep, turn their GPU chips to mining Ethereum. (5:13) If they produce two Ethereum a year, it was between three and six thousand dollars of (5:17) income.I had a paper route. (5:19) Right. They can’t really.(5:21) There’s no paper route in their world. (5:23) So. And that’s funny about that.(5:24) We’re talking once again, the physical to the Ethereum, but it’s still real. (5:28) It’s so very real. It’s just different.(5:30) Right. And quantum physics is that. (5:31) Yes.And recognizing that you’d look to apply the math to it. (5:36) So I think there was this big demographic shift and the wealth of my generation is going (5:42) to pass on to your generation. (5:44) And you are used to the digital world from gaming, from the Internet, whatever it is.(5:51) My world was American Airlines. (5:55) The closest thing I get to is mileage points. (5:57) Yes.But what I noticed with those mileage points is that 20 years ago, it was 20 (6:01) thousand mileage points to go to Europe. (6:03) Now it’s 200 thousand. (6:04) So they devalue inflation.(6:07) Inflation. And that’s what governments do with paper money. (6:11) Some do it faster than others.(6:13) America’s done a wonderful job of doing it the slowest. (6:15) Venezuela did it pretty quickly and got them into this whole thing. (6:18) Right.And that’s part of my speech was was Chavez took away property rights. (6:23) And every time you take away property rights, you take away human rights. (6:27) And Thomas Jefferson quoted about this a long time ago.(6:32) And George Washington talked about the significance of private property rights. (6:36) So 1776 was a rebellion again against the king of England over property rights and (6:43) taxation and my human rights. (6:45) In 1215 was the Magna Carta, was the beginning of common law.(6:49) And that was the real beginning. (6:51) And I think in my research, a hundred years later came the first patent laws. (6:56) Wow.That’s intangible. (6:58) Yeah, absolutely. (6:59) I wrote the song.It’s mine. (7:00) Yeah, I have the rights to it. (7:02) Right.So intellectual property and intellectual property rights. (7:06) So that became related to private property rights. (7:09) Civil law never recreated laws.(7:11) There’s almost 10 centuries later. (7:14) That’s unbelievable. (7:16) So so on that, let’s see, what’s the question I want to ask here? (7:21) Property rights.Back in the day, I think the United States, didn’t you have to own (7:24) property to be able to vote? (7:25) Correct. So that that even speaks to how Jefferson looked at that back then, the (7:30) philosophy of these people. (7:31) And none of them were over 40.(7:33) Most of them were in their 20s and 30s. (7:35) Correct. These people were geniuses.(7:36) And we need to go back to the system. (7:38) So they saw it’s so beautiful. (7:40) And the complex adaptive system would say that the smart people would go back and (7:44) cherry pick what was the best to add to the flavor today.(7:48) Yeah. And and I think that having these conferences like this in education, your (7:54) podcast, which grown dramatically in the past 10 years, but for sure set 20, but (8:00) significantly 10, his social media platforms, podcasts, how many people during (8:05) Covid they lived off the podcast while they were working out. (8:09) So we saw Peloton sales go through the roof.(8:11) Right. But the same thing is found. (8:13) We’re all working.Listen, the podcast. (8:15) Right. They were.And it really pushed the decentralization of information to (8:21) immediate extents because you had the three major or the six new sources saying X and (8:27) every other independent person saying why. (8:30) So which one is right? (8:31) The that conglomerate corporation that runs it all or the people that are share freely (8:36) exchanging information and knowledge. (8:39) Such a beautiful thing.(8:40) It is. It really is. (8:41) So how how did you think to make the first data mining? (8:46) Well, when I looked at the world of gold, they’re both decentralized like Bitcoin.(8:51) One is tangible. (8:52) One is not tangible. (8:55) One is is that I discovered that a lot of the Bitcoiners read from, I call the same (9:03) Old Testament as gold investors.(9:05) Yes. That there’ll be imbalances between monetary and fiscal policies and fiat money (9:11) will slowly get devalued with that and owning gold. (9:14) So this century, gold has outperformed the S&P 500 shocks people.(9:19) And I tell them that it sounds crazy that the same weight of gold from 1960 could buy (9:25) the house today. (9:27) Correct. It’s it has not lost its intrinsic value throughout time.(9:31) It does have a little fluctuation, obviously, but that’s when we market and do those (9:35) things. Right. We dump silver on the market or something like that.(9:38) And a big difference, if you look at the history of it, those those Vietnamese boat (9:42) people that got out first had a gold tail is called a gram of gold. (9:46) So gold became something of I call the great love trade around the world. (9:52) 60 percent of gold demand is related to GDP per capita and it’s for love.(9:57) So the greatest GDP per capita was Asia and India and the Middle East. (10:02) And you just saw as they had more income, they bought more gold. (10:05) Right.So we look at Dubai. (10:07) I think it’s like ninety nine percent of all gold passes or something like 90 percent (10:10) of all gold passes through Dubai at some point. (10:12) And the Chinese want to with the Shanghai exchange to be able to do the futures.(10:17) But it’s it’s really, you know, interesting that Indian women wear six times the amount (10:22) of gold that’s in Fort Knox. (10:25) Yeah. It’s a great data point.(10:27) That’s a beautiful. And recently this century, we had the Syrian women that got out (10:32) first took off their 24 karat gold bangle. (10:35) And that’s how they got out of that country when the crisis is going on.(10:38) So gold becomes this ornament of love and that can really be used. (10:43) But Bitcoin is even more significant because we saw in East Africa the banking, the (10:50) unbankables. And that was all of a sudden digital money off your phone and everyone (10:56) would be buying and selling for thirty two cents for three dollars back and forth.(11:00) And there was a huge boom in digital banking all through East Africa. (11:05) So that just said, well, this this is important for Bitcoin. (11:09) Yeah.Because now we can do digital transformation of wealth. (11:12) Right. And you don’t have to have a Kenya shilling as your backbone.(11:16) You could also have Bitcoin and that’s going to protect you from the government having (11:20) bad policies. So you have oppression. (11:24) You get dictators.Look at Lebanon. (11:26) You have Hamas coming in or Hezbollah, same sort of identity funding from Iran. (11:33) And they destroyed that economy.(11:36) Yeah. It is just a destruction. (11:40) And so when you see that and you say, well, how do people get protected? (11:44) Bitcoin is their digital way.(11:46) And having 20 million, well it’s not 20 million, but having like 500,000 Satoshis. (11:55) Well, you can start buying them at 10,000 Satoshi. (11:58) You can break it down that Bitcoin.(12:01) You can do it by parse meal on Robin Hood. (12:04) So that’s what I have. (12:05) I think I point zero to Bitcoin or something like that.(12:08) And you can do it every month. Yeah. (12:09) I’ve been on stash.I think it’s every $100 every month. (12:12) So that landed when I found that I didn’t. (12:16) I was trying to launch a Bitcoin ETF in 2017.(12:19) Just happened this year. (12:21) And I realized in meeting with the regulatory world that the concern was a KYC, AML, anti money laundering concerns. (12:28) But if you’re a Bitcoin miner, you create the original coin.(12:31) You don’t have that problem. Right. (12:32) I have virgin coins.(12:34) So today I have about 2,500 of them, which is worth about $140 million. (12:40) May I borrow one? (12:41) In Hive. And so that’s been my vehicle that I would only do green hydro energy.(12:48) I recycle the energy. (12:50) I heat buildings five times the size after I’ve done my Bitcoin mining in downtown Montreal. (12:56) It’s so funny because one of those arguments is the energy that Bitcoin creates.(13:01) And there’s another data point something about the energy that gold creates, like the fiat creates, too. (13:07) It’s like it’s 10 times. (13:09) Right.It’s like, look at the small countries that Bitcoin. (13:11) No, look at the amount of energy that the fiat system. (13:14) You’re absolutely correct on that.(13:15) And you think of Ayn Rand’s famous book on, you know, Atlas Shrugged on the page of explaining why gold is made with risk. (13:24) And as energy of human beings. (13:26) And well, there’s energy is really the defining element.(13:31) So money is energy. (13:33) It is. It’s all energy.(13:34) It really is because it’s an exchange of a service of good. (13:37) We obviously have if I give you something, it’s obviously for an exchange of something. (13:42) And I wouldn’t voluntarily giving it.(13:43) And I can move a billion dollars of Bitcoin for a hundred dollars less than a hundred dollars. (13:48) You can’t move a billion dollars in bonds, government bonds for a hundred dollars. (13:54) When I was just recently came back from Africa and Europe, when you’re buying with your if you want to go to the ATM to get euros, they want to charge you 13 percent commission.(14:05) And they charge you. They charge you interest to they charge you to keep their your money in their banks. (14:10) Yes.They have negative interest rates. (14:12) Correct. Correct.(14:13) OK. And so you think so you think of I could turn around and do Bitcoin for less than ten dollars. (14:20) And so the real anti Bitcoin comes from the banks.(14:25) Yeah. And they’re well, I would think. (14:26) And then they push the government lobbies to make the regulations.(14:29) Right. Because they make it right. (14:31) Right.So they write the regulations. (14:32) So it really is a rudder in a sailboat doesn’t tip over. (14:39) It’s really important to own, I think, two to three percent.(14:42) What we found when we launched Hive is that I had my baby boomer friends. (14:49) They all want to buy, but they’re reluctant. (14:51) They’re afraid of a bankman coming along and destroying.(14:55) So they used Hive as a proxy. (14:58) And so Hive was the first crypto mining company. (15:01) And it had explosive growth.(15:03) It crashed down with Bitcoin. (15:05) It went back up. (15:06) But with something we’ve always done is hodl.(15:08) We used to hodl Ethereum. (15:10) And for your listeners, let’s hold on for dear life with the volatility. (15:14) It’s very different for baby boomers to talk about stocks.(15:18) If stocks fall as bad, it’s no good. (15:22) Bitcoiners are stack it by the dip. (15:25) Yeah.Hold on for dear life. (15:27) Hold on. It’s coming.(15:28) It’s come back around. Or at least it’s coming back up. (15:30) And so that has been really significant.(15:33) The other data point that’s really significant, there’s 195 countries in the world. (15:37) So you think of 195 central banks defining each of these countries’ currencies. (15:44) And you have now over 18,000 nodes, peer to peer, which comes from the Napster model.(15:52) Oh, wow. Yeah, I get that. (15:53) It was so disruptive to music and it shows it works.(15:56) Well, these nodes now. (15:58) So China goes after the crypto space. (16:01) It falls.It comes right back. (16:02) Because it’s a global phenomena to recognize. (16:06) So I don’t think that Bitcoin is going to go away.(16:09) I don’t think Hive is going to go away. (16:11) Hive is listed. Nasdaq is listed in Germany.(16:14) We only source green energy. (16:16) And now we’re getting in the AI business because we had these GPU chips. (16:20) Yes.That were used for mining Ethereum. (16:22) Yes. So now Ethereum mining is gone.(16:25) So now we repurpose them. (16:26) So is it was there a halving where it just wasn’t. (16:29) Was there something that they took it away from stake? (16:32) OK.From proof of work to proof of stake. (16:34) OK. So I’m not familiar with those concepts.(16:36) So I apologize. So when it comes to crypto, it’s either proof of work, which you use (16:40) electricity to validate the algorithm and the transaction. (16:44) Yes.Or you go to proof of stake and you basically have a. (16:47) Now it’s locked in. (16:49) Excel on steroids. (16:51) OK.Got it. On blockchain, basically. (16:54) And you can get more easily hacked or disrupted this way.(16:57) No one’s been able to hack into the Bitcoin and hack a coin. (17:01) And if someone tries to tamper with it, it merely gets in every 10 minutes it gets (17:06) caught. Oh, wow.(17:07) So the system and the system. (17:10) Self repairing system in a way. (17:11) It’s like it almost kicks it out.(17:13) Yeah. It kicks it out. (17:15) So it’s almost like it’s it’s it’s a tribe of 20 that someone got out of hand and they (17:20) kick them out.They kick them out. (17:22) But because those 20 can talk to each other and they can’t be interfered by a group of (17:26) 100 telling them what actually what’s not true. (17:29) Absolutely.Tell them the lies. (17:31) That’s really interesting. And I come from the gambling world.(17:33) I remember when online poker was the same thing because the government couldn’t control (17:38) it. They talked about bad actors. (17:39) Someone make a million dollar bet on a bad hand just to transfer to a drug dealer.(17:43) So that was it. ABL. (17:44) Is that what you called it? It was.(17:46) But it was the same. (17:47) The same concept. Same narrative.(17:49) And that government just cannot get enough. (17:51) And we look at even back to the mafia days. (17:53) The government is taking money from everyone forcefully.(17:57) If you don’t, you’re in trouble. (17:58) And with that money, we’ll protect you with it. (18:00) Does that sound any different than anything? (18:03) Well, what’s really nice, with all respect, America has the best system of all these (18:09) other countries in the world.(18:10) And and it’s the Constitutional Republic, I think, that really helped with that and (18:15) the balance of power. The only country in Europe is Switzerland that has the canton (18:20) where there’s tremendous state power. (18:21) Yes.And they’ve always been neutral. (18:24) I mean, they’ve been financial. (18:25) Right.And so that country as a whole is a stronger currency than the rest of Europe. (18:31) And it’s recognizing those balance of powers. (18:33) But there will always be imbalances between monetary and fiscal policies.(18:38) And that’s why you own some gold. (18:40) That’s why you want to have some Bitcoin. (18:43) And you don’t want to have a plate of it because that’s like eating a plate of (18:45) jalapenos.Right. (18:46) But you want to have to diversify and you diversify and it really helps for long term (18:53) planning. That’s beautiful, Frank.(18:55) So before we go, if I hope I can ask one more question, the recent BRICS issue, Saudi (19:00) doesn’t sign the petrodollar deal and BRICS is starting to come up with a goldback (19:05) currency. What are your thoughts on any of what what’s in store for the dollar or (19:10) anything like that? If you have any prognostication, I don’t want to put you on the (19:14) spot, but I think that it’s very politically motivated by Russia and China. (19:21) China has been trying to get the Saudis to accept Renminbi.(19:25) Saudis told them eight years ago that you have to have more gold to back your (19:29) currency. So they became the biggest buyers of gold and biggest producing. (19:33) So they’re an important part of trying to legitimize themselves.(19:37) But they have a closed economy. (19:39) People don’t realize you cannot use your American Express or your visa in China (19:43) today. Right.(19:44) Because, you know, this is I would assume it’s a SWIFT like we took SWIFT away from (19:47) Russia so they couldn’t even transact the dollars. (19:49) Is that the same type of issue? (19:50) They just don’t want anything to do. (19:51) So they don’t even let it in.(19:53) No, no. You have to go and convert your money and put it into a we pay. (19:57) And then when you go there that you can use it.(20:00) And now they’ve got the people that they don’t even want to use cash. (20:03) So one of my analysts was saying that he forgot his toothbrush and shaving stuff. (20:07) So he went to go and use cash.(20:09) They wouldn’t take it. Then they would try the credit card, get the wrong credit (20:12) card. And so you’re seeing that it’s a closed economy.(20:17) Well, therefore, the currency is not fungible. (20:19) Therefore, and the same thing with Russia. (20:22) So therefore, they’re not going to be.(20:23) So they’re all really trying to do is to have an economic war with America. (20:27) Right. And they’re not going to have a military war.(20:31) But so therefore, they’ll push with an economic war. (20:35) And it’ll see what the politics with Saudi Arabia has. (20:39) But it’s just part of of this dynamic that the complex adaptive system explains.(20:46) That’s beautiful. And and I think that some some American (20:52) bureaucrats get overzealous in the power they have. (20:55) But it happens everywhere.(20:57) You know what we don’t find when I fly and I have the Jets ETF. (21:01) Right. And so you think the captain has all this power.(21:05) There is a person that when you’re going to check it (21:09) and if you’re rude with them, all of a sudden you’re not going to get on that flight. (21:13) That’s true. They have the power.(21:14) They do. Now, they’re not making 60 grand a year. (21:17) Right.And they probably even have a little bitterness and resentment. (21:21) They have power. Right.(21:22) And it’s a one time in their life they can they have power and they can exude. (21:26) So you better be really polite to them. Yes.(21:28) That’s what I tell people. You’ll be very polite. (21:30) Yep.Don’t feel like you’re extra pleasing. (21:33) Thank yous to everyone. (21:34) And so you could get a government bureaucrat (21:37) that all of a sudden feels that they have this excessive power (21:40) and it comes back to backlash against on the global scene.(21:44) But America has this incredible way of absorbing and coming back. (21:50) Yeah. Adjusting.Adjusting. (21:52) And I think it’s because we’re a common law. (21:54) I think it’s because common law is is a greater protector (21:58) of private property rights and human rights.(22:02) And I think that politicians have to always be really sensitive over that (22:07) or they won’t get elected. Absolutely. (22:09) President Trump was anti Bitcoin.(22:12) President Trump now is pro Bitcoin. Right. (22:13) Well, I don’t I don’t know if he knows what it’s where Biden has a problem.(22:17) I don’t think Biden knows what he said yesterday. (22:20) Trump doesn’t remember what he said because it changes (22:22) depending on what the populist idea seems to be. Right.(22:25) I like I like the guy. (22:27) He seems fun because he seems to be against the group. (22:29) But we don’t know.(22:31) I don’t know a lot of what he thinks, because it seems to be populist (22:33) in a lot of ways. (22:34) I think that to you, which way do you go? (22:37) Thank you. Thank you.(22:38) I’m glad I didn’t think in which ways the money blowing. (22:40) Right. He knows.He knows. (22:42) Look, and you have 20 percent. (22:45) Most of the Democrats that I know, lawyers and friends, et cetera.(22:50) They’re pro Bitcoin. (22:51) All right. Beautiful.(22:52) But there’s the fringe 20 percent that are like the zealots. (22:56) And the Republican Party has more of them. (22:59) They probably have more because conservative.(23:00) It’s like they don’t understand. (23:02) They I’ve always talked with conservatives. (23:04) Asking a conservative to explain why they believe something is almost impossible (23:07) because they can’t look like that because it’s worked for thousands of years.(23:11) Like that’s the conservative mindsets. (23:13) It’s worked. Tradition works.(23:15) That’s why we do it. (23:16) Not it’s almost inexplicable. (23:17) You can’t really explain new concepts.(23:19) You have to really get almost deprogram some of the traditional piece. (23:25) And how does it change the tradition? (23:26) Yeah, it’s it’s a it’s a good it’s a good way. (23:29) But you find that when you have the centralized (23:32) any organization, it goes into relying on (23:38) those traditions of value to stay in power.(23:41) Great. Well, thank you, Frank, so much for this time. (23:44) It’s great.I hope we get more because I just don’t know enough. (23:47) So I want to I want to learn a little bit. (23:49) Drink from the fire hose.(23:50) Hopefully we can have another conversation. (23:51) Absolutely. Great.(23:53) We have Frank Holmes, the first data mining Bitcoin hive. (23:58) Still here. Twenty five thousand bitcoins.(24:01) How many? How many? (24:02) No, I’ve mined that, but you mind that you mind that. (24:05) But on my balance sheet, I have more than twenty five hundred. (24:08) And that’s more than twenty five hundred than I have.(24:11) It’s one hundred forty million. (24:13) Frank, thank you so much. Really nice to meet you.(24:16) Hey, everybody. Check out Frank. (24:18) Frank, you have anything else you’d like to share? (24:20) Website.I have a U.S. (24:21) Funds dot com. (24:22) I have readers in 80 countries, 100000 weekly readers. (24:26) Great.(24:27) They talk about my global travels. (24:29) And I was just with the president of Zambia (24:33) and last month I was in Paraguay. (24:35) So I like to meet like you’re doing with this, with presence of countries.(24:38) And so what are their policies before my global investment (24:42) funds look to put money into that country? (24:45) I love that in Zambia’s copper, the second biggest producer. (24:48) And it was really a phenomenal guy because he took on the Chinese. (24:52) Yeah.And he’s pro-American. (24:54) Well, most of the other countries around him are not. (24:55) So I was really my honor to be able to hear.(24:59) And he has an MBA from in England. (25:01) So he’s done a great job in position in the country. (25:05) That sounds great.(25:05) And actually having a precious metal. (25:07) I mean, copper is a precious metal. (25:09) So conductive, beautiful piping and everything.(25:11) It’s such a versatile metal. (25:13) If you’re into renewable energy, copper is the gold. (25:16) That is it.That is it. (25:18) Thank you. Thank you again.(25:19) Take care. Appreciate. Thank you.Take care. Nice meeting you. (25:29) I’m to go.(25:32) Good night, sweetheart. (25:34) Well, it’s time to go. (25:38) I hate to leave you, but I really must say (25:44) good night, sweetheart.(25:47) Good night.