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In the United States, we are already experiencing record-high inflation, and not to mention thenational debt has now surpassed $35 TRILLION. While paper dollars are suffering, one must also beware of the emergence of new digital currency and market warnings.
When speaking to inflation, Trump referred to an" inflation crisis". He has previously said, "The world is going up in flames while you suffer the ravages of inflation and your buying power goes down to levels never seen before."
Financial analysts like Robert Kiyosaki are telling Americans to get prepared for the biggest financial crisis in U.S. history and says the S&P 500 is about to crash by 70%.
If inflation and expert market concerns aren't enough, the dollar may also be in trouble.
When speaking to the power of the dollar, Trump shared "[The U.S. is] the big piggy bank but our piggy bank is going to get smaller and smaller all the time because we're losing power," Trump said. "We're losing a lot of countries on the dollar. I mean they're going like flies. If we ever lose that that's the equivalent of losing a war that would be unbelievable."
Tesla Billionaire Elon Musk also issued a $35 Trillion "Bankrupt" warning hinting to the U.S. Dollar "Destruction".He isn't alone, Bank of America has also issued a warning about a possible US dollar collapse.
It's one thing to hear concerns from experts, but when you hear about the actions taking place by 'big money', it makes you think...
Bank of America investment strategist Michael Hartnett is advising investors to purchase gold even as it nears record-high prices. In a recent note, Hartnett stated that investors should "do what central banks are doing... buy gold."
When speaking to potential Fed rate cuts, Hartnett also shared, "That's because interest rate cuts from the Federal Reserve in the coming months pose a risk to stoking a rebound in inflation next year, and real assets, like gold, have historically performed well during bouts of inflation."
Gold has seen a remarkable rally, with prices up about 20% year-to-date, surpassing the S&P 500 and outperforming tech stocks. Despite this, gold has experienced a net outflow of $2.5 billion as investors take profits during the surge.
The ongoing rally amidst outflows is attributed to "unprecedented central bank buying," Hartnett explained, noting that China's central bank was a significant buyer in 2023. He also observed that gold is now the second-largest reserve asset with a low correlation to stocks.
Like Harnett said, "do what central banks are doing... buy gold."
While Robert Kiyosaki sounds alarm bells about the stock market and the U.S. dollar, he implores Americans to buy gold and silver as they serve as "parachutes for investors during the economic downturn" and says, "We are not going in for a soft landing. Unfortunately, the world of fake money is crashing."
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It's essential to explore alternative avenues for your wealth. Here are a few reasons why Americans are using this strategy to help hedge and diversify their retirement accounts:
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