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Now, we’re seeing the next evolution of the power of owning the exchange. After successfully launching a yuan-denominated gold futures contract last year, the LME is preparing to issue a range of yuan-denominated metals futures.
In other words… Boom.
The government actually likes inflation and rising prices because the national debt is so obscenely large. But for us, inflation is a disaster. If you put $100 in a savings account 10 years ago, you wouldn’t be able to buy as much with it today as you could have back then. Saving money actually COSTS you purchasing power.
Why don’t we see circulated silver coins used in commerce today? Read here about Gresham’s Law that governs the debasement of circulated money.
On average, the US national debt increases by $52,000 per second. That’s more debt in a split second than the typical American worker earns in an entire year. And there is no end in sight. What does our growing debt mean?
The Federal Reserve’s most recent Survey of Consumer Finances, for example, shows that the median bank balance among US consumers is just $2,900. And Bank of America’s annual report from last year showed that the average balance per HOUSEHOLD (i.e., not per person) was $12,870, which is actually LESS than the average account balance that Bank of America reported in 1997!
The dollar’s collapse is nearing. The European Union is planning to switch its payments to the Euro for its oil purchases from Iran, eliminating US dollar transactions. Just one more nail in the US dollar’s coffin. Its collapse is all but imminent at this point.
It looks to be another boom year for gold. Investors are anticipating a continued demand for the precious metal for the fifth year in a row, driven by geopolitical uncertainties and less-than-strong predictions for the US economy and the US dollar in 2019.
Precious metals investors should beware of dealers peddling certified modern coins like certified American Eagles for inflated prices. Read here about this unscrupulous practice.
If you ever hear anyone say there is no inflation, just show them a 30-year chart of the CPI index. The ongoing inflation is going to be the fire under the rocket of precious metals.
Here are three important indicators that will throw ice on the hot-economy narrative the mainstream media is pushing. Right now, the yield curve is dangerously close to flattening—soon after, it will invert. There is also the cash hoarding problem going on—and that’s a bad signal of economic health. Last, and most importantly, is a little-followed indicator—but one that is eerily accurate: The South-Korean Export Growth (SKEG) Indicator.
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