Are Pawn Shops The New Bank?

By June 29, 2016Appearances, News
Les Gold discusses how his pawnshop is an indicator of the economy with Maria Bartiromo.

American Jewelry and Loan Owner, and star of ‘Hardcore Pawn,’ Les Gold on why the business at pawn shops is an indicator of how the economy is doing and how they fill the short-term lending void not filled by banks.

“We can tell you six months in advance how the economy is going.  We have two lines, one line is for the people bringing in merchandise, one line is for people taking out their merchandise.  When that line of people that are in the store that are bringing us stuff, and it’s long to the door, we know the economy is getting bad,” Gold told the FOX Business Network’s Maria Bartiromo.

Watch the video at Fox Business!