As the nation’s leaders make every effort to get the economy back up and running during the coronavirus pandemic, there is much uncertainty about your health, safety, and money. The Washington Post writer, David J. Lynch, in a recent article stated, “The pandemic shock, which economists once assumed would be only a temporary business interruption, appears instead to be settling into a traditional, self-perpetuating recession.” People in the US and abroad have every reason to be concerned for a number of reasons: the pandemic and a number of other pressing local and worldwide issues.
US Dollar at Risk
Many economists currently state that the US dollar is at risk and that we can’t turn this around anytime soon. In a report by the United States Census Bureau, 85.5% of the 73,472 household respondents said they “had received or expected someone in the household to receive an Economic Impact Payment of stimulus check.” While this news is positive for many, the impending results of printing that kind of money could prove to be damaging for our long-term economy. The long-term impact is yet to be seen, and we are still in the middle of a crisis.
Low Inflation Over Time
With consumer inflation low over time, there are repercussions. Low inflation adds up. Consider that the US dollar lost 44.2% of its purchasing power between 2000 and now. This translates to a savings account that potentially lost half of its purchasing power. Your fiat money in the form of paper is continuing to lose value—and this loss will likely impact you in the future. Simply put, your savings are likely or will soon be worth less than it is today.
City mandates for people to wear masks are increasing by the day, but many refuse to do so and are generally not following protocol guidelines. The recent spikes in the coronavirus are affecting both large cities and small towns alike. The spike in cases, as you know, has a direct impact on jobs and the economy. Jobs numbers have improved over the past two months. Still, Lynch also reports, “Now states such as Florida, California, Texas, and Arizona are setting daily records for coronavirus cases. More than 70 percent of the country has either paused or reversed reopening plans, according to Goldman Sachs.” We must rethink the way we live and work amidst a virus, or a mutation of the virus, that is likely to be among us for years to come.
Riots, Violence, and Crime Are Increasing
Most major US cities are experiencing an increase in riots, violence, and crime. There are several opinions as to why, but most media outlets agree that the pandemic and resulting financial setbacks and social justice protests are the leading causes. These activities, along with the high percentage of police officers retiring after the call by many democratic states to defund the police, have put fear in Americans’ hearts—concern for safety, for children, and financial futures. There is an alarming rate of uncertainty by people across the globe.
How To Protect What You’ve Worked For
As an American, you’ve worked your whole life to provide for your family, live a quality lifestyle, and save for retirement. Today, you feel vulnerable and less in control. Amidst so much controversial news, a lingering pandemic, and a country experiencing division at every turn, there is one thing you can do to protect your assets—hedge your income with a precious metals IRA.
It is essential to consider that history sheds some appealing light on fiat currency vs. precious metals. The records show that gold and silver as monetary standards prevail while fiat currency systems eventually fail. Today, our monetary system is possibly at the highest risk level ever. Let’s face it, the more money we create, the less valuable it becomes. By hedging your savings with gold or silver, you gain stability in this nation’s grave uncertainty.
How Can Physical Gold/Silver Help At A Time Like This?
An investment in precious metals, particularly gold, stands out as a stable and secure transaction in this volatile market. A truly diversified portfolio that includes gold or silver (in addition to cash, stocks, and bonds) is essential in an unpredictable economy and when people are uneasy. How can physical gold help, you ask?
- Increased Purchasing Power. History shows us that the purchasing power of gold has remained stable even during an inflationary period.
- Consistent Worldwide Value. An ounce of gold or silver is the same value in every corner of the world; therefore, precious metals trading is straightforward.
- Authenticity. Gold and silver coinage and bars are tangible, meaningful, and authentic as family investments; they have never been devalued in the way fiat currency is depreciating.
- Not Paper Currency. The dollar is known as “currency” while gold and silver is known as “money.” There’s a difference in a fluctuating piece of paper and a physical gold/silver asset as a lifelong investment.
With your health, safety, and money at risk during the coronavirus pandemic, now is a valuable time to reevaluate your financial portfolio and prepare for what is yet to come. It’s a lot like preparing for a natural disaster, an unprecedented emergency, or an EMP. Create a plan, develop a strategy, and progress on your objectives while there is still time.
Take a stand. It may be time to leave the fiat currency bandwagon while the nation is still functioning, and precious metals is always an option. Supplies are limited, and investors are taking action with prices nearing an all-time record high (the highest gold price was $1,917.90/oz, closing at $1,880/oz in 2011). Today’s price is mid $1,800’s/oz (the highest silver price was $49.50/oz, on Apr. 28, 2011). Today’s price is low $20.00/oz.
Contact Reagan Gold Group to discuss the sensibility and opportunity in a gold or silver investment now, before the country spirals further out of control. We hope and pray it does not.