Gold IRAs (part 2) | The Gold Standard #2219

Now is a good time to be asking yourself how to protect some of your wealth. There has to be a more reliable shelter than stocks and bonds. Under current conditions, how dependable is holding onto paper currency in a savings account, money market fund, or stuffed under the mattress? When every day, you see stocks fall and prices rise, it’s hard to remember that the US dollar was once considered a safe haven during times of extreme uncertainty.

The Gold Standard series host Dave Deno and his guest, Ken Russo, VP of the Midas Gold Group continue their discussion about self-directed Gold IRAs and how you can get your money out of declining investments and move it into more secure financial shelters, all without paying taxes. Fortunately, there is a way to do it, and that’s what this episode is about.

You can’t say that our monetary policies have been created from common sense and logical solutions. Soaring prices are a global phenomenon. The US has the highest inflation of all the major governments of the world. Germany, the UK, and Canada are all close behind. Even though inflation is a global phenomenon, much of our inflation has been self-inflicted. The Fed has consistently made moves guaranteed to cause economic problems. There has been too much stimulus, too big of a budget deficit, too much bond-buying by the Fed, and too much money printing. These toxic ingredients are all part of an explosive brew that will soon erupt.

Ken hits the nail on the head when says, “They’re ignoring the one solution that would solve the problem.” Stable money can only be accomplished through a Gold Standard. Having the discipline to stick to a Gold Standard is the path to true and lasting recovery and a prosperous economy. Being on a Gold Standard requires discipline, stewardship, and wise use of resources. Our monetary policymakers routinely engage in abuse of public trust. Was it ignorance or greed that ended a monetary system based on fixed exchange rates, or both?

Once upon a time, the international Gold Standard was backed by state-backed central banks. Our country thrived for over a century under consistent mismanagement and abuses by the central banks caused the system to collapse.

During World War II, the wheels were set in motion for a worldwide monetary order intended to govern monetary relations among independent nations. Bretton Woods required countries to guarantee the convertibility of their currencies into US dollars. The US dollar was pegged to the price of gold. At that time, the fixed exchange rate was $35 for an ounce of gold. After Bretton Woods, members redeemed their currency for US dollars. Over time, the dollar became a substitute for gold, causing the value of the dollar to rise and gain a significant foothold as the world’s reserve currency. All foreign banks must hold dollars in addition to whatever gold they had in reserves.

In August 1971, President Nixon completely severed the tie between gold and the dollar and replaced it with a currency valued by government order, or fiat money. The US dollar has enjoyed a long era of dominance. More than sixty-five countries peg their currency to the dollar, and almost all of the foreign exchange markets involve US dollars. It’s been a great ride but there are increasingly new challenges to the dollar. The sluggishness of GDP growth shows signs of the US economy slowing down. China has displaced the US as the EU’s top trade partner. China is expected to exceed the US as the world’s largest economy before 2030. Could a new global reserve currency emerge? And if so, what kind of shape will the US dollar be in at that time? These are uncomfortable questions to contemplate, but essential if you want to protect your hard-earned wealth.

Why is a Gold IRA So Important Now?

The US dollar may be the world’s reserve currency. The value of the Euro and Yen has been steadily dropping against it; the precious metal has been a reliable hedge against inflation for thousands of years.

Ken introduces listeners to a gold bullion coin that qualifies for a Gold IRA. This episode’s featured precious metal product is the main bullion coin of the United Kingdom, the Gold Britannia. At .9999 fine gold, Britannia is one of the purest gold coins on the global market. England’s prestigious contribution to the global bullion market came in 1987 just after the Chinese Gold Panda and American Gold Eagle made their debuts. The coin’s namesake, featured on the obverse, has been used on coinage since 119 AD. The Gold Britannia represents the pride of a nation, an incredibly long history, and one of the best gold values on the market.
______________________________________________________________________________

Gold IRA: https://www.midasgoldgroup.com/gold-ira/
Invest in Gold: https://www.midasgoldgroup.com/buy-gold/
Guide to Owning Bullion & Coins: https://www.midasgoldgroup.com/bullion-guide/
Read the latest precious metals news: https://www.midasgoldgroup.com/news/