Sentiment toward America’s economy is falling, and not just in the United States itself. Many nations are rapidly pulling away from using the U.S. Dollar. Meanwhile, the Biden-Harris regime seems bent on doing whatever it takes to downgrade the Dollar’s status in world markets.
There was a time not too long ago when money in the bank was considered to be safe. Today, that money is being attacked on two fronts. First, we’ve seen the challenges as the U.S. banking system quietly but rapidly collapses. Americans are pulling their money out. Second, the risk of devaluation of the fiat currency itself have become an immediate threat that goes far beyond simple inflation. We could be in for a massive downturn unlike anything our nation has ever seen.
This is not fearmongering. It’s a wakeup call. As Doug Casey noted, “The bottom line is that the whole financial system—based upon the way currency is created today by the government and the way the banks work, is totally and irredeemably corrupt. I don’t believe it can be reformed. It’s inevitably going to collapse in some way.”
Unfortunately, “inevitably” could be much sooner than any of us want. I am not a financial advisor but as a journalist I keep my finger on the pulse of economic news. Financial news of late has been horrible.
The reason The Liberty Daily, which benefits when you buy from our partners, is so bullish about physical precious metals purchased through Our Gold Guy or Genesis Precious Metals is because both a banking collapse and a devaluation of the U.S. Dollar — and they are not mutually exclusive — point to the need for wealth preservation through inherently valuable holdings. We like precious metals in particular simply because they are more portable than real estate, more tangible than cryptocurrency, less volatile than shares in the various markets, and easily convertible into currency… whatever currency we may be trading in tomorrow.
If you believe the powers-that-be will get their way and replace the U.S. Dollar with a “Digital Dollar” central bank digital currency, it’s safe to assume precious metals will convert easily. Why? Because the central banks themselves are buying up as much gold and silver as they can. They wouldn’t shoot themselves in the foot ahead of their planned demolition of currencies.
If you believe the banks are going to continue to struggle and may collapse in the future, then it definitely behooves you to have a good chunk of your wealth or retirement backed by physical precious metals. Whether you store it in your home, in a depository through a self-directed IRA, or a combination of the two, you will have assets that can be quickly and easily converted into legal tender.
Unlike bank deposits which are essentially unsecured loans that you give to the banks themselves, physical precious metals stored in depositories or your own safe is YOUR property. It would be foolish to say our government would never try to take our own property, but it’s a heck of a lot more secure than money in the bank or crypto on an exchange.
(Note: The information provided by The Liberty Daily or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.)