Economic Pain Incoming: Is Your Wealth Protected? | The Gold Spot

The Federal Reserve’s undying commitment to failed strategies has caused widespread pain in the economy. Unfortunately, the situation is only expected to get worse from here, so it’s crucial that investors protect their wealth from the impending downturn.

Although the government’s misguided financial policy is to blame for much of this economic pain, our financial leaders don’t seem to have the resources or desire to protect investors from the mess they’ve created.

In the immediate aftermath of the Silicon Valley Bank collapse, the Biden admin promised to cover all banks only to change their tune a few days later. Now, only government favorites will receive support, leaving many investors in the dust.

What’s even more frightening, the FDIC only has enough reserves to cover 1.27% of the trillions Americans have deposited in banks. In other words, our financial system is hanging by a thread even when the main fail-safes are activated.

With inflation still raging and a nationwide bank collapse looming, the Fed is stuck fighting on two fronts. At the same time our financial leaders are injecting billions into the economy, they’re announcing additional rate hikes .

You don’t have to be an expert to conclude that the economic situation is only going to get worse from this point. There’s a clear move away from traditional paper-backed assets in favor of gold, silver, and other precious metals as investors seek out hard investments.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Precious Metals Advisors Joe Elkjer & Tim Murphy explain why the economy is in dire straits and why investors should consider protecting their wealth now.