(Sponsored Content) American voters turned out in large numbers to cast their votes for our next president. Vice President Kamala Harris was pitted against former President Donald Trump. And the winner is? Gold and silver, writes Rich Checkan, president and COO of Asset Strategies International.
Unlike four years ago, the presidential election was decided in one day. Last time, it took until Saturday to declare President Biden the winner.
From a standpoint of fiscal responsibility, the American public and the US dollar lose yet again. In over fifty years, the US government’s budget has been balanced exactly twice. President Lyndon Johnson did so in 1969. President Bill Clinton did so from 1998 to 2001.
Make no mistake. Gold and those who hold it are the winners in this election cycle.
A Busy Week
In the past few weeks, there have been a number of market-moving events.
We saw a very disappointing jobs report. Only 12,000 new jobs were created. The market, however, was anticipating the creation of over 112,000 new jobs.
Of course, those numbers may have been negatively affected by the impact of hurricanes or by the impact of the Boeing strike. In the case of the hurricanes, we may be seeing fewer new jobs created or simply the inability to collect data on new job creation.
Either way, a 90% disappointment in new job creation is a bitter pill to swallow.
However, since the horrible jobs numbers may or may not have been believed, that placed undue stress on the interest rate decision the Federal Reserve made at its November meeting.
It is difficult enough – some might even say impossible - to make decisions about interest rates when all the data is accurate and clear. It becomes beyond impossible when you cannot trust the data you use to make the decisions.
That all being said, over 80% of market participants expected interest rate cuts by Chairman Jerome Powell and the Federal Reserve at both the November and December FOMC meetings.
Well…we are halfway there after the Federal Reserve cut interest rates another 25 basis points on Nov. 7.
The consensus is that interest rates in the United States will be down to 4.25% to 4.50% by the end of this year.
And if that were not enough to muddy all the waters, we have a very hostile and contentious US presidential election that was just decided.
Differences and Similarities
As we transition to a new administration under President Trump, it is important to note that the policies of the two candidates are clearly different.
However, when it comes to fiscal responsibility, there really is no difference at all.
Both candidates vowed to leave Social Security, Medicare, and pensions alone. These massive entitlements will continue to weigh heavily on our overhanging debt, the US dollar, and our economy.
Further, the fiscal plans for both candidates continue the pattern of both parties for over half a century…overspending and monetary expansion.
This bi-partisan overspending and monetary expansion is what is responsible for a weaker US dollar and higher prices for anything and everything. This bi-partisan overspending and monetary expansion is what is responsible for the decrease in our standard of living. This bi-partisan overspending and monetary expansion is what has made so many Americans struggle to make ends meet…relying upon credit cards to buy necessities.
Congress and previous administrations have created these problems…from both sides of the aisle…from both sides of the political spectrum. They have tried and they will continue to try to blame others for inflation and a weak economy.
Overspending is the root of all these ills, and Congress and previous administrations are the only ones to blame.
And they have no will or desire to change.
Gold and Silver
If you know and accept all that, there really is only one thing to do: Ensure you have your wealth insurance policy in place.
Buy gold. Buy silver.
Unless the new administration and the new Congress change course, gold and silver prices are going higher in the long term. There is no other way for things to go.
As a result, you should treat this post-election dip in gold and silver prices as a gift… a blessing. You have the opportunity to buy gold and silver much cheaper than they ought to be…at least for a little while.
If you have not allocated funds to gold and silver yet, do so. Your family’s financial future depends upon it.
Gold and silver help you preserve your purchasing power. They help you Keep What’s Yours!
Visit our online store. Send us an email. Call us toll free at (800) 831-0007.
Take action today…
Learn more about Rich Checkan at AssetStrategies.com.
