H.R.7521 is about control | The Gold Standard 2412

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Welcome to another insightful episode of the Gold Standard! Jennifer Horn, joined by Ken Russo, SVP of the Midas Gold Group, delivers a candid and informed weekly analysis of the economic landscape. In these turbulent times, where the dollar’s value is diminishing, trust in government wavers, and personal privacy is increasingly compromised, discussing utilizing physical precious metals like gold, silver, platinum, and palladium is paramount. Join us as we navigate the complexities of wealth preservation and delve into the strategies to safeguard your purchasing power and provide financial stability in an uncertain world.

TikTok Ban Debate

The dangers of increased US Government intervention in the TikTok ban debate extend far beyond the surface arguments. The revelations about TikTok’s ties to China-based teams and the potential for surveillance on American citizens have sparked legitimate national security and privacy concerns. The recent House bill, aimed at requiring ByteDance to divest from TikTok or face a ban in the US, highlights the growing tension between tech companies and government oversight. While TikTok has characterized the bill as a ban, the underlying issues of data privacy, surveillance, and foreign influence are at the heart of the debate. The Chinese government’s objection to the bill further complicates matters, raising questions about competition, sovereignty, and the role of multinational corporations in global politics. With bipartisan concerns and ongoing investigations into TikTok’s practices, the debate underscores the complexities of balancing national security interests with the challenges of regulating the digital age.

The Impact of Nixon’s Gold Standard Decision

Since President Nixon took the United States off the gold standard in 1971, the trajectory of the US dollar’s value has been on a continuous decline. This pivotal decision severed the direct link between the dollar and physical gold, allowing for more flexibility in monetary policy but also paving the way for significant economic challenges. Factors contributing to the erosion of the US dollar’s spending power include relentless deficit spending by the government, expansionary monetary policies leading to inflationary pressures, mounting national debt levels, and global economic shifts affecting currency dynamics. Combined, these elements have contributed to a situation where the purchasing power of the US dollar has steadily diminished over time, impacting consumers, investors, and the overall economy.

Distrust in the Government & Global Financial Shifts

The erosion of trust in the government among its citizens has reached unprecedented levels, marking a significant departure from the past. As Ken highlights in this episode, the sentiment of “This is not the country that we’ve known. We’ve lost our way” encapsulates the growing disillusionment with government actions and policies. The continuous depreciation of the US dollar, coupled with unsustainable deficit spending and economic uncertainty, has fueled this distrust. Moreover, the trend of other countries dumping dollars and central banks globally turning to gold as a more reliable store of value reflects a broader shift away from traditional financial systems. This loss of confidence in the government’s ability to manage economic stability has profound implications for all of us.

Inflation’s Corrosive Grip on Cash Savings

Inflation, a silent force steadily eroding the value of our cash savings, has been a persistent concern since the early 20th century. As Ken Russo points out, the staggering 3,000 percent inflation since 1913 has devalued the purchasing power of a dollar to a mere 3 cents today. This relentless erosion hits home for all of us, reflected in rising insurance premiums, utility bills, and grocery expenses that weigh heavily on household budgets. The recent statistics from the Office for National Statistics (ONS) revealing a CPI inflation rate of 3.4% in February, albeit a drop from previous months, remains above the government’s target of 2%. Factors contributing to this sustained inflation include elevated energy and food prices stemming from global conditions, a tight labor market driving wage increases, and ongoing supply chain disruptions.

The Ultimate Gaslighting

Jennifer comments that all the rhetoric we hear on the news and in the media is the ultimate gaslighting. Gaslighting involves an imbalance of power between the abuser and the person they’re gaslighting. As we navigate the complex landscape of economic news and media narratives, it’s crucial to approach information critically and not accept everything at face value. While there may be positive changes in certain aspects of our financial lives, such as lower credit card balances and delinquencies, overarching trends like inflation and interest rates are critical factors that can significantly impact our financial well-being. Stay informed. Exercise financial caution and plan for challenges in an uncertain economic environment.
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