72 Hours to Save Banks | The Gold Standard 2317

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This episode of The Gold Standard podcast delves into the current banking system crisis in the United States and abroad. Recent reports indicate that banking regulators may seize First Republic Bank (FRC) as early as this weekend, with JPMorgan (JPM) and PNC Financial (PNC) being the primary bidders to purchase the bank out of possible receivership. The Federal Reserve’s latest data also shows that stresses remain in the banking system, which adds to a loss of confidence in the banking system. The FDIC’s collapse and seizure of Silicon Valley Bank (SIVBQ) and, more recently, First Republic are prime examples.

The Federal Reserve’s latest data also shows that stresses remain in the banking system, which adds to a loss of confidence in the banking system. The FDIC’s sudden collapse and seizure of Silicon Valley Bank (SIVBQ) and, more recently, First Republic are prime examples. Series host Dave Deno and Ken Russo, Senior Vice President of the Midas Gold Group, help us understand the challenges of analyzing bank safety and how a severe loss of confidence can cause an otherwise functioning financial institution to come under duress.

Ken points out how the financial system depends on other countries buying US bonds. The Federal Bank has been buying fifty percent of the bonds from the US because no other government wants to buy our bonds.

The global financial systems are interdependent, and one country’s economic decisions can have ripple effects worldwide. As Ken Russo highlights, the US financial system is not an exception to this interdependency. The financial system of the US relies on other countries purchasing US bonds to finance its debt. However, the Federal Reserve has been buying nearly half of the US bonds, as other countries are not interested in them. This interdependency creates a precarious situation, as a shift in one country’s economic policies can have unintended consequences for the rest of the world. The global financial systems’ interdependence requires countries to coordinate their policies to avoid unintended negative impacts on other countries.

Diversifying your investment portfolio with precious metals, such as gold and silver, is vital because they protect your wealth against inflation and economic uncertainty. Unlike paper currency, the value of precious metals is not affected by government policies or economic downturns, making them a reliable store of value. Precious metals have a low correlation with other asset classes, which can help reduce overall portfolio risk. Gold’s historical track record of retaining value makes it one of the most reliable ways to protect your wealth.

This episode’s feature bullion product is the American Gold Eagle, a personal favorite with the team at Midas Gold Group. The origins of the American Gold Eagle date back to the Reagan administration in 1986 as part of the American Eagle program to offer gold and silver to investors. The American Gold Eagle is a popular choice among investors looking to protect their wealth from market uncertainties. Since then, the American Gold Eagle has become one of the world’s most widely traded gold coins. It is widely recognized for many qualities, not the least of which is its artistic beauty.

The obverse of the American Gold Eagle features Augustus Saint-Gaudens’s iconic sculpture of Lady Liberty holding a torch and an olive branch on one side. The United States Mint used Saint-Gaudens’s design on the twenty-dollar gold piece between 1907 and 1933. It is widely regarded as one of the most beautiful ever created for an American coin. Saint-Gaudens’s sculpture continues to serve as inspiration for many subsequent coin designs.

The reverse design was created by artist Miley Busiek Frost and sculpted by Sheri J. Winter. The original (from 1986 to 2021) reverse design shows a male eagle carrying an olive branch flying above a nest containing a female eagle and her eaglet. Frost says that her eagle design of the family of eagles is “a symbolic tribute to the American family, senior citizens, and young people.” From 2021 onward, the reverse features an up-close portrait of the American Bald Eagle by artist Jennie Norris and sculpted by Renata Gordon.

All of us are living through times of significant changes. Join us as we explore what many are calling the most historic credit crisis in history, the current state of the banking system, its impact on the economy, and what it means for your financial future. There has never been a more critical time to stay informed and be proactive. Be prepared, subscribe, and turn on notifications to stay updated with The Gold Standard.
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