It was September 14th, 1901 , President McKinley was assassinated. In 1900, McKinley passed The Gold Standard Act of the United States which established gold as the only standard for redeeming paper money, and the Gold Standard Act also stopped bimetallism , which allowed silver to be exchanged for Gold. The Gold Standard today is long, gone, and, not to get into conspiracies of America, we know that John F Kennedy wanted to get back to the Gold Standard, and deactivate of the Federal Reserve. You can make your own mind up on that, as there are plenty of “theories” as to why JFK was assassinated, as well as McKinley.
Moving on to now, the financial crisis that IS COMING, there is no doubt about that, can and will destroy life savings for millions of Americans, especially those with big savings account, or IRA’s.
Below is a chart which shows the constant failure of a countries paper money that is not backed by GOLD….
I’ve talked to many people whom believe the stock market is safe , even after the crash of 1989, which ruined many investors, brokers and firms. The true fact is that, YOU, the American Worker, has a savings, a bank account, and/or an IRA, that is backed by “kindle”. What I mean by that is simply, it’s a fire starter for the bonfire that is coming to the financial collapse of America. And It Is Coming Folks.
GOLD IS SAFE
Having paper money looks good, and it sure feels good to pay in “cash” when you purchased something at the store. The ole adage about putting money under your mattress is still the mindset today. I have money at home, cash, green stuff, and I keep it for emergencies , but what I realized is what I need is something for a catastrophe as well.
I’m not super rich, by any sense of the word, even losing $10.00 to a bonfire is enough to make me angry. Imagine having a 401K, that you paid into for years of hard work, for that nest egg you can use when you finally get out of the rat race of working, then having it all turn to nothing? I’m not chicken little, I am rooster reality. Even if the paper money does not burn in your lifetime, it will for the next generation of your family, and even more, they need to understand one thing, that the time is coming when money will be worthless.
The above statement by the Chairman of the Federal Reserve should make you cringe. This is hyperinflation defined, and he say’s it likes it’s a solution to our problems. It’s not a solution, it is a major problem. As you saw my hyperinflation example above, paper currency will eventually destroy a nation NOT BACKED BY GOLD, and Bernanke is taking this money I call “kindle” and flicking a ZIPPO LIGHTER to burn it up faster.
Bottom line is that if you have any savings, or even worse, an IRA that you are counting on for your NEST EGG, and it’s all in paper money, you really need to at least consider switching over your entire IRA to GOLD. (and gold is not hard to resell, for cash when you need it.
Here are 10 reasons you may want to consider GOLD for your IRA:
- Markets are far more volatile now in the wake of Brexit. Britain has voted to leave the EU and other European countries may follow, sending world markets into turmoil. The U.S. Stock market dropped over 600 points or 3% on June 24th after this historic referendum on the implications this could have for American businesses and exports. Global markets saw similar declines. When the next crisis unfolds, the declines could be larger.
- The U.S. Government has its Eye on Retirement Accounts. In 2010 Portugal seized retirement account assets to help plug holes with government deficits and debt. Ireland and France did the same in 2011, as did Poland in 2013. The U.S. government has been watching. Since 2011, Treasury has taken money from government workers’ pension funds on four separate occasions to cover deficits in federal spending. Investing billionaire legend Jim Rogers believes that private accounts will be the next ones the government raids.
- Top 5 US Banks Now Larger Than Before the Crisis. You learned about the five largest banks in the U.S. and their systemic importance as the unfolding financial crisis threatened to collapse them. Legislators and regulators promised they would address this issue once the crisis was contained. Over five years after the crisis ended, the five biggest banks are even bigger and more critical to the system than before the crisis began. The government made the problem worse when it forced some of these so called “too big to fail” banks to absorb the failing ones. Any of these banking behemoths failing now would be absolutely catastrophic.
- Danger from Derivatives Threatens the Banks More Now than in 2007/2008. The derivatives that crashed the banks back in 2008 did not disappear as regulators promised. Today the derivatives exposure of the five biggest American banks is a whopping 45% greater than before the economic collapse of 2008. The derivative bubble is over $273 trillion now versus the $187 trillion of 2008.
- U.S. Interest Rates are Already at Abnormal Lows so the Fed has Little Room to Cut Rates. Even after raising interest rates once last year, the Federal funds rate is still in the range of ¼ to ½ percent. Consider that before the crisis erupted in August of 2007, the Federal funds interest rates sat at 5.25%! In the next crisis, the Fed will have less than half a percentage point total it can reduce rates to stimulate the economy.
- American Banks Are Not the Safest Place for Your Money. Global Finance magazine puts out a yearly list of the top 50 safest global banks. Only 5 of those are U.S. based. The top spot an American bank commands is only #39.
- The Fed Balance Sheet is Still Expanded from the Financial Crisis of 2008. The Fed still has nearly $1.8 trillion in mortgage backed securities on its balance sheet from the 2008 financial crisis. This is more than double the less than $1 trillion it held before the crisis began. When mortgage backed securities go bad again, the Federal Reserve has a lot less maneuverability to absorb bad assets than before.
- The FDIC Admits it Lacks Reserves to Cover Another Banking Crisis. The latest FDIC’s annual report shows that they will not have sufficient reserves to adequately insure the nation’s banking deposits for minimally another five years. This stunning revelation admits that they can only cover 1.01% of U.S. bank held deposits, or $1 out of every $100 of your bank account deposits.
- Long Term Unemployment Is Still Higher than Before the Great Recession. Unemployment was 4.4% in early 2007 before the last crisis began. While the unemployment rate has finally reached the 4.7% levels seen as the financial crisis began to ravage the U.S. economy, the long term unemployment remains high and the employment participation rate significantly lower more than five years after the previous crisis ended. Joblessness could be much higher in the wake of the coming crisis.
- American Businesses Failing at a Record Pace. In the beginning of 2016, the Gallup CEO Jim Clifton announced that American business failures are now greater than new business startups for the first time in over three decades. The dearth of medium and small businesses has huge implications for an economy long driven by free enterprise. Bigger businesses are not immune to the problems either. Even American economic heavy weights like Microsoft (reducing 18,000 jobs) and McDonald’s (shutting down 700 stores for the year) are suffering from this dismal trend.
I’ve researched a few IRA retirement service companies that deal with Gold, and found one that you can actually get top-notch free information from, and the best part …… they don’t annoy the heck out of you, calling you 10 times a day. The company is REGAL ASSETS . They provide straight facts, and they allow you to make the decision, and if you say NO, it’s NO. But the company is highly accredited with a A+ rating.
Watch this informative video from Regal Assets
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