Relying on Paper Money is a Problem | The Gold Standard 2318

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Welcome to The Gold Standard radio show. Join hostess Jennifer Horn and Ken Russo, Senior VP of the Midas Gold Group as they delve into the pressing issues jeopardizing your wealth and the value of the US dollar. Together they explore the problems associated with fiat paper currency. Are you concerned that all the hard-earned money you’ve accumulated may not be there when you need it? Typical news outlets often fail to provide the whole truth about the state of the economy and the future of your buying power. The Gold Standard is for those who want to gain valuable insights and make informed decisions about protecting and growing your financial assets.

In the first video version of The Gold Standard, Jennifer Horn and Ken Russo discuss the potential implications of de-dollarization, the process by which countries and individuals reduce their reliance on the US dollar as the global reserve currency. If de-dollarization occurs, it could have significant consequences for US citizens, particularly those depending on their wealth for retirement or leaving a legacy. Concerns arise with the US national debt reaching a staggering 31 trillion dollars, making up 125 percent of the US GDP. The Federal Reserve’s commitment to monetizing the debt by printing millions of dollars raises questions about the long-term stability of the US dollar. Moreover, major economies like China, Saudi Arabia, and Brazil are already moving away from the US dollar, further signaling a potential shift in the global financial landscape.

Being “off the gold standard” refers to a monetary system in which a country’s currency is not directly convertible into a fixed amount of gold. Historically, the gold standard was a monetary system where the value of a country’s currency was tied to a specified quantity of gold. Under this system, individuals could exchange their currency for gold at a fixed rate. When a country goes off the gold standard, its currency is no longer backed by or redeemable in gold. Instead, the currency’s value is determined by various factors such as supply and demand, monetary policies, and market forces. In such a system, the government can control and manage the currency’s value and adjust it as needed to support economic goals.

Moving off the gold standard allows greater flexibility in monetary policy and the ability to use tools like interest rates and money supply to stimulate or stabilize the economy. It also means the currency’s value becomes more susceptible to inflation, fluctuations in international exchange rates, and market confidence. Most countries today operate on fiat currency systems, where the value of money is based on trust and the authority of the issuing government rather than any ties to a physical commodity like gold.

In this episode of The Gold Standard they shed light on a critical topic: Raising the Debt Ceiling. They present a captivating video featuring Alan Greenspan from the 1990s. He asserts that the United States can always pay its debts because it can print money, irrespective of its credit rating. However, Mr. Greenspan’s belief in unlimited money printing raises concerns. Excessive money printing leads to inflation, eroding the value of people’s savings and purchasing power. It also risks the financial system’s stability and undermines confidence in the currency.

For those who already own gold or are considering it, the American Gold Eagle bullion coin holds immense significance. Introduced in 1986 by the United States Mint, it quickly gained global recognition as one of the most popular and recognizable bullion coins. The American Gold Eagle is legal tender and is known for its high purity. While it carries a face value, its actual worth is far more significant due to its 91.67% pure gold composition. The coin’s wide acceptance, liquidity, and reputation as a safe-haven asset make it an ideal choice for portfolio diversification and wealth preservation.

The design of the American Gold Eagle is a captivating representation of American heritage and patriotism. It features a timeless depiction of Lady Liberty, designed by Augustus Saint-Gaudens on the obverse. She stands tall, holding a torch and an olive branch, with the sun’s rays emanating behind her. The original reverse (1986 to 2021) showcases a powerful portrayal of a family of eagles designed by Miley Busiek. The male eagle soars above the nest, while the female and their hatchlings are depicted within it. The intricate details and symbolism in the design of the American Gold Eagle add to its aesthetic appeal and cultural significance, making it a cherished piece for collectors and investors alike.
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