Election Results and the Collapsing Economy | The Gold Standard 2242

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The days and weeks around the midterm elections are historically positive for stocks. But not so this time around. Election results will probably produce the gridlock that markets tend to like because less gets done. Investors like predictability in whatever form they can get it. But investors have concerns beyond politics.

The Big Lie

Despite the rhetoric about lower inflation, the average citizen still feels the pinch whenever we go to the store or buy stuff online. While Jerome Powell fights for the Fed’s credibility to beat back inflation from its highest level in 40 years, institutional distrust, in general, is the highest it’s ever been. A few years ago, Powell said, “We’re human, and we’ll make mistakes, but we won’t make mistakes of integrity.” He’s already blown that statement out of the water when he kept stating that high inflation is only “temporary.” Later, he spent a great deal of energy back peddling. We’re in an age now where statesmen and our institutional stewards won’t tell us how things are, but rather how they wish things were.

The US Dollar is Not Money

Our paper currency isn’t backed by anything except confidence in the government and trust that it will continue. Even now, our dollar is a digital currency. When we go to the store or go online to buy something, we use a debit card. The amount of cash we use is minuscule by comparison. The cashless, digital society is already here.

Gold is Not Part of the Banking System

Since Nixon closed the gold window in August of 1971, we’ve had a few generations of students conditioned by policymakers to believe that gold has no role in the international monetary system.

The truth is, gold has never gone away and never will. The power elites no longer talk about it. They publicly ignore it, yet they simultaneously hold onto it. The modern principle is don’t listen to what they say. See what they do. Why would the US have more than ten thousand tons of gold if gold were so worthless? Why do Germany and the IMF keep over three thousand tons each? Why is holding gold such a priority if it has no role in the system? The reason is simple. Central banks want you to think money is unconnected to gold because they need to print money whenever they want. Along with the power to control the money supply comes the ability to control behavior and politics. Still, gold is the foundation, the building block of the international monetary system.

Precious metals are reliable because they have intrinsic value, apart from the rise and fall of any government. Take some of your paper assets and convert them into a solid, tangible investment like gold and silver. If you had put $100,000 of your paper currency into gold twenty years ago, you’d have over $400,000 today. The US dollar has lost 40% of its value since 2002.

The Featured Precious Metal Product

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Ken Russo, VP of the Midas Gold Group, brings back one of his all-time favorite bullion coins, the Gold American Eagle.

The American Gold Eagle was created so Americans would have an American gold bullion product. Nationalism and patriotism played a considerable role in its creation. The coins are 22-karat gold (mixed with harder alloys), the established standard for circulated coinage over 350 years ago. By law, American Gold Eagle bullion coins can only use gold mined within the United States. Immediately, the American Gold Eagle found a loyal following among collectors. Investors consider the American Gold Eagle one of the best ways to invest in gold.

Although the spot price of gold fluctuates, demand for the American Gold Eagle is always there because of its secure nature, high quality, and American orientation. American Gold Eagles are especially popular in self-directed IRAs. Many people open Gold IRAs to enhance their
retirement investment strategy by diversifying.

Since the series’ inauguration in 1986, the American Gold Eagle has been available in four sizes: one-ounce, half-ounce, quarter-ounce, and tenth-ounce. Ken focuses on the most popular issue, the one ounce, which carries a $50 face value.

The Federal Gold Bullion Coin program was the perfect opportunity to resurrect Augustus Saint-Gaudens classic Lady Liberty design used on the US $20 gold piece from 1907 until 1933. Saint-Gaudens’ celebrated double eagle ($20) is considered by many to be America’s most beautiful coin ever produced. The reverse displays a new design showing a family of eagles.

The American Gold Eagle is IRA-eligible.
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