Trump Has Hinted About a Return to the Gold Standard | The Gold Standard 2429

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Welcome to a new episode of The Gold Standard with your hostess, Jennifer Horn. In this riveting installment, Jennifer sits down with Ken Russo, SVP of Midas Gold Group, to delve into the startling news of a recent assassination attempt on presidential candidate Donald Trump in Butler, Pennsylvania. As Ken aptly puts it, “crazy times” are upon us. This episode brings to light the urgent need to return to the gold standard as a safeguard against the corruption and fraud rampant in our current monetary system. The conversation turns to the inherent issues within the fractional banking system, highlighting the alarming failures of some of the biggest banks in the country over the past few years. Ken also sheds light on a shocking development: 40 banks in China closed over the weekend, underscoring the global scale of financial instability. Tune in to hear Ken’s expert insights on protecting yourself and your assets in these unpredictable times.

Revisiting the Gold Standard: A Path to Sound Monetary Policy or a Step Backwards?

A return to sound monetary policy, as hinted at by Donald Trump with his advocacy for the gold standard, would mark a significant shift in the United States’ financial framework. Trump’s inclination toward this monetary policy was highlighted in a 2016 NPR report, and he reinforced this by selecting Judy Shelton, a staunch supporter of the gold standard, as an economic advisor. Shelton, who has compared the Federal Reserve’s economic planning to that of the Soviet Union, has consistently advocated for a return to the gold standard, arguing in a 2009 Wall Street Journal op-ed that such a standard would prompt people to switch to gold if they perceived the paper money to be losing value. Judy Shelton’s book, “Money Meltdown,” also promotes a unified international monetary regime based on gold to combat inflation. This approach, however, is controversial. By law, the Federal Reserve’s dual mandate is to control inflation and strive for full employment, playing a critical role in economic recovery through adaptive measures like regulating interest rates. Shelton’s desire to revert to a rules-based system where currency values are fixed opposes modern monetary practices, which aim to adjust the money supply according to economic needs. Critics argue that returning to the gold standard would restrict the central bank’s ability to respond to financial crises effectively, potentially ignoring the interconnectedness of today’s global economy and the valuable lessons learned from historical financial turmoil.

The Nixon Shock: Transition to Fiat Currency and Its Long-Term Impact

In April 1971, President Richard Nixon made a pivotal decision that would transform the U.S. monetary system. With mounting economic challenges, including persistent inflation and a growing trade deficit, Nixon announced that the United States would no longer convert dollars to gold at a fixed value, ending the gold standard. This move, known as the “Nixon Shock,” was initially described as a temporary measure to stabilize the economy. However, it led to the U.S. dollar becoming a total fiat currency, meaning its value was no longer tied to a physical commodity but based on government decree. According to Ken, this shift marked “a sky slope down in the purchasing power of our dollar,” as the detachment from gold allowed for more significant money supply manipulation and contributed to long-term depreciation of the currency’s value.

“Fiat currency is built to fail and continually loses purchasing and buying power the more government prints it out of thin air.”
—Ken Russo

Physical Gold through a Self-Directed IRA

In times of stock market turbulence, investors often turn to safe-haven investments like precious metals, which are believed to be superior long-term choices for retaining and growing value. Owning physical gold, in particular, offers a tangible safeguard against economic instability. One effective way to gain exposure to gold is through a self-directed Individual Retirement Account (IRA). Unlike conventional IRAs, which do not allow direct ownership of physical assets, a precious metal IRA enables you to invest in gold, silver, platinum, and palladium. As Ken Russo from Midas Gold Group emphasizes, investing in a Gold IRA is an ideal way to secure physical ownership of gold, not just paper assets like Gold ETFs. This method allows you to diversify your retirement portfolio, hedge against inflation, and protect your wealth from market volatility. Choosing a reputable custodian and precious metals dealer ensures that your investments are securely stored and managed according to IRS regulations, providing peace of mind and a solid foundation for your financial future.
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