“Aurum omnia vincit”
“Gold conquers all.”
~ Latin Proverb
Written by Bryan Lutz, Editor at DollarCollapse.com:
Last week, I sent you a rather cynical message about Trump’s new secretary pick, Scott Bessant.
He said, America is entering…
“A New Golden Economic Age.”
And I admit, I chided you with more than a few points as to why he, despite casting a grand vision for America’s future, won’t be able to attain this “new golden economic age.”
$36 Trillion in debt…
More than $1 Trillion in annual debt service payments…
With a soon-to-come second wave of inflation.
Yet, Trump’s plan is to increase debt, and brush inflation under the rug.
This will go to show you, when currency devaluation happens, it happens the same way every time.
Governments always choose to print more money.
Then gold increases in value.
Here’s what gold looked like last year.
If you look at gold in USD terms, it looks like it did “pretty good.”
Gold beat the US stock market by about 4%.
That equals a positive year.
But, as soon as you expand the picture, you begin to see how gold is reacting to currency devaluation across the board.
In gold terms, the world’s biggest currencies aren’t looking good.
So, if you consider Bessant’s vision…
It’s most likely as temporary as the wind.
Gold lasts generations. It doesn’t lose mass and it offers a passage way into a new ethos, the age of eternal wealth.
It is the standard by which the world has traded time and time again, one monetary vision after another.
You can enter the eternal age of wealth by purchasing physical gold and placing it in an IRA, or by investing in gold and silver mining stocks.
Take or your pick.
Following the movements may lead to short term gains, but it can also lead to following the herd over the cliff into god knows what.
Take care.
