8 easy to understand reasons why every person in America (who has any sort of disposable income) should buy gold:
- The FED is an enemy that can’t be fought. So – ‘Don’t fight the Fed’. The fed is actively fighting tooth and nail to inflate the dollar every day. It’s been doing so since 2008 and has switched into hyperdrive the last 3 months. Zero interest rates. Negative interest rates. Bailouts. Handouts. Forgivable loans. Helicopter money. All this free “manna from heaven” will surely turn to ashes in our mouth and make us all hungrier and thristier than we ever were before!
- The FED is going mad with power. Just like Dr Frankenstein thought he could create a monster and control it, the fed is actively and purposely creating inflation to try to keep the stock market from going down and the bubble IT blew up from popping. However, just like Frankenstein’s monster, inflation can’t be controlled and will ultimately turn on its master. The best way to plan for this is owning gold as the purchasing power of the dollar crashes.
- The FED is doing unconstitutional things. The fed is not just “printing” money; it’s also buying CORPORATE DEBT — and not just triple A rated debt (safe); we’re talking junk bonds! The crap no one else will buy! This is a level of corporate cronyism never before conceived. It’s also wildly unconstitutional — if such a thing even matters to Americans anymore. For context, during WW1 the fed went to congress and asked for permission to buy government treasuries. Congress reluctantly agreed for the sake of funding the war, and a law was passed allowing this. This unfortunately unlocked Pandora’s box. Since then, especially more recently, the fed has taken UPON ITSELF unilaterally the onus of not just buying US-backed treasuries, but in 2008 junk mortgage bonds, and recently MUNIs, and very soon junk bond corporate etfs. This, to those who don’t follow this stuff, is basically like an 8 year old kid asking his irresponsible patents if he can have a 22 rifle to go hunting squirrels—for which they stupidly agree. He does that and gets bored so now feels that same permission allows him to buy a B52 bomber stealth fighter with nuclear missiles!! — and the IDIOTIC PARENTS ARE SOMEHOW PERFECTLY FINE WITH IT!
- Gold is a hedge against the inflating dollar. Put another way, preserving your wealth via gold is a massive life raft extended to you by the investing gods which can purchase right as you see the Titanic speeding to the iceberg.
- Congressional overspending is out of control. As a country and as individual households, we should be hunkering down and cutting spending and personal expenses right now. We are hurting financially and require prudence and saving. Instead, we are doubling down on what we did in “good times” with debt and deciding now’s a good time to essentially put in a swimming pool and buy a yacht since we lost our job and are now putting stuff on the credit card, so might as well go crazy. That’s an insane way to live and will backfire. Huge!
- US Government. Every time there’s a crisis, you can count on the government to do the wrong thing. Without exception.
- History. Those who ignore history are doomed to repeat it. We are not unique. We are not special. Counties and nation states for eons have thought THEY were someone different and their desperation was somehow unprecedented so they could inflate their currency (ie print or debase their money supply, just as we are doing now). We are not different. We are the same. Look to history for examples of what happened. Look at the Weimar Republic in Germany. Look at Ancient Rome. Look at, more recently, Venezuela and Zimbabwe. These nations all had the hubris to think they somehow could pull off what others before them couldn’t: inflate their currency in times of dire need. But, sadly, the cure is WORSE than the disease—literally in this case. Hyperinflation and stagflation are hardly good substitutes for a bit of Covid related hardship. We are ignoring the past completely as we swallow poison in a reckless attempt to treat a cold.
- This will be the most expensive free lunch ever. Everyone currently has their hand out demanding “free” money from government. But the most EXPENSIVE money possible is that which is created through inflation. It’s much more expensive to pay for government through inflation than through taxation.