The Political Reasons to Own Gold | The Gold Standard 2426

https://www.midasgoldgroup.com/

In the latest episode of The Gold Standard, Jennifer Horn sits down with Ken Russo, SVP of Midas Gold Group, to explore the compelling topic of “Political Reasons to Own Gold.” This episode offers a unique perspective, featuring an extra special guest, Joan M., a passionate client of Midas Gold Group from Los Angeles, California. Joan shares her strong opinions on the Federal Reserve Bank, delving into the controversial belief that a debt-driven system keeps citizens ensnared, with those in power profiting from the widespread financial dependence. Join us for an enlightening discussion that challenges conventional views on economics and the political landscape surrounding gold ownership.

The End of the Gold Standard

President Nixon’s pivotal decision to take the US dollar off the gold standard marked a significant turning point in monetary history. From that day forward, the US dollar became a fiat currency, backed by nothing except debt. The Federal Reserve note essentially became an “I owe you,” relying on trust rather than tangible assets. This bold experiment, now over fifty years in the making, has not panned out well, leading to a fragile financial system increasingly dependent on debt and susceptible to economic instability.

Get Rid of the Fed

Joan M. is a staunch advocate for abolishing the Federal Reserve, which she calls “The Creature of Jekyll Island,” a nod to its controversial inception in 1913. She argues that the Federal Reserve is neither a federal entity nor an actual bank but a private corporation with immense power, influencing presidential elections and global economies. Joan emphasizes that the Federal Reserve has perpetuated cycles of boom and bust, manipulating the financial system for profit while trapping citizens in a cycle of debt. She also points out the vast network of the Federal Reserve, with locations in 186 countries worldwide, overshadowing the collapse of institutions like the Bank of London. In contrast, gold and silver have consistently proven reliable stores of value. Joan passionately asserts, “The petrodollar was always fake. It was just an excuse for us to go in and steal somebody else’s oil.” She notes that recent moves by OPEC and BRICS to sideline the US dollar signal a critical shift away from fiat currencies. For Joan, the ultimate solution lies in dismantling the Federal Reserve System and returning to tangible assets like gold and silver, which have stood the test of time.

GOLD IS NOT PAPER

Joan M. explains why she moved from paper assets to owning physical gold. There are inherent risks and the illusion of ownership tied to paper gold products. Wall Street sponsors, US banks, and members of the London Bullion Market Association (LBMA) have created enormous volumes of gold products that aren’t gold; they are paper contracts, such as exchange-traded funds (ETFs) like GLD. The phrase “ticker symbol” is a giveaway that the product is not gold but a share of stock. While some gold might be part of the structure, you don’t own that gold—you own a share, which is digital and vulnerable to hacking or erasure.

The legal structure behind these ETFs, like GLD, is a trust with gold in a vault, often in London, managed by large LBMA members such as Goldman Sachs and JPMorgan Chase. Much of the activity of these authorized participants involves arbitrage between the physical gold market and the market for GLD shares, adding another layer of risk because these paper contracts are prone to fail as there won’t be enough physical gold to cover all claims during times of stress. Paper contracts, labeled as ‘unallocated,’ offer no claim to specific physical gold.

God’s Money

The arguments for owning physical gold extend far beyond mere financial investment. As God’s money, gold has existed through time immemorial as a stable store of value. Whether it’s economic uncertainty or political turbulence, precious metals have stood the test of time. This episode shines a light on the inherent risks of a fiat currency system, where excessive money printing and escalating debt threaten to undermine the stability of global economies. By turning to gold, individuals can safeguard their wealth against the devaluation of paper money and protect themselves from the inevitable financial upheavals confronting all of us.
______________________________________________________________________________________________

Listen to The Gold Standard: https://www.midasgoldgroup.com/gold-standard-radio-show/
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/