Take Your "Safe Money" Out of the Banks, We’re Facing Crisis Greater Than 1930s

"The economy is going to come to a standstill and worse because everything starts imploding," says Bert Dohmen, founder and president of Dohmen Capital Research. He explains that in the wake of the banking crisis, it becomes challenging to get a loan from the bank "no matter how trustworthy" a borrower is. Additionally, he says that President Joe Biden's current spending plan, which aims to double the capital gains tax on corporations and wealthy Americans, is a "killer for the economy." Bert asserts that "investors create businesses, and businesses create jobs. If nobody creates businesses, you have no job creation." Given the current uncertain environment, he concludes that investors should seek safety in U.S. treasury bills. However, he predicts that gold price will experience an up and down in the future and that the precious metal's recent record high indicates a sell signal.

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