LOS ANGELES, Sept. 30, 2016 /PRNewswire/ -- Back in 2006, Venezuela was the fastest growing economy in the Americas with the world's 16th largest gold reserves. Fast forward ten years and Venezuela is home to empty grocery stores, hospitals without medicine and a dumpster diving middle class who can no longer afford to buy food with costs reaching as much as $150 for a dozen eggs. Seeing how currency volatility has beleaguered the once-promising Venezuelan economy, many Americans are trading hard earned dollars for precious metals to insulate themselves from the likelihood of a similar financial quagmire in the U.S.
While runaway inflation is pushing millions of Venezuelans into abject poverty, Americans have emerged from the global recession of 2008-2009 with a relatively strong currency and brittle optimism. However, neither the productivity of American businesses nor the incomes of American workers has experienced any gains. Instead, institutional investors have bought the last secure, high yielding bonds available in American debt markets, namely, $1.3 trillion of educational loans that are fleecing future generations of Americans. The top six U.S. banks, worth over $9 trillion, have raised the value of their combined asset portfolios from 17% of U.S. GDP back in 1995 to well over 58% of GDP. Printing currency with reckless abandon could leading America down Venezuela's path to an economy entirely dependent on cash and vulnerable to currency volatility.
Rising corporate debt defaults at home and turmoil in global financial markets, epitomized by the recent implosion of Deutsche Bank, loom over the U.S. economy. While the investor class has led the move away from cash to precious metals, American workers with their eye on wealth preservation are following suit. Millions of Americans with individual retirement accounts are moving their savings into self-directed precious metals IRAs. If you're not ready to kiss your cash goodbye, you may find yourself as unprepared for an economic meltdown as millions of unfortunate Venezuelans. For help from a qualified team of precious metals experts with proven investment experience, call Patriot Gold Group at 800-974-GOLD or apply online for your Self-Directed Lightning Fast Precious Metals IRA.
ABOUT PATRIOT GOLD GROUP
Established in 1986, Patriot Gold Group is a nationwide investment group with over 30 years of experience in precious metals. In 2016, Patriot Gold Group was rated Top IRA Gold Dealer by Consumer Affairs, 5 Stars by TrustPilot and AAA by the Business Consumer Alliance. What sets Patriot Gold Group from competitors is the fewest layers of management compensation and an industry leading pricing structure.
Sterling fell, equities slid, Chinese markets got a helping government intervention hand again, and gold climbed over concerns U.K. Prime Minister Theresa May is prepared to lead Britain out of the European Union's single market and as the U.S. President-elect suggested other countries could break from the bloc.Read More
By U.S. stocks have had an incredibly run over the last two months and even at these record-breaking levels there are still profits to make - at least until March, when it will be time to run for the hills, says Goldman Sachs strategist David Kostin See full story.
Gold futures drove their winning streak to four days in a row Thursday, their seventh gain in eight sessions, and posted a new, more than 7-week high. Gold for February delivery advanced $3.20, or 0.3%, to finish at $1,199.80 an ounce on the Comex division of the New York Mercantile Exchange.
Kicking off a yearlong celebration of its 225th anniversary, the United States Mint unveiled the 2017 American Liberty High Relief Gold Coin in a ceremony today at the Department of Treasury in Washington, D.C. Highlights of the anniversary coin include an ounce of .9999 fine gold, an increased level of detail, raised edge lettering with stars, and a 1792-2017 duel date.Read More
For the first time since before Thanksgiving, the price of gold has risen above $1,200 (now up 13 of the last 15 days) and outperforming all other asset classes year-to-date. This latest jump comes as the USD Index tumbles further post-Trump's press conference, breaking below the key 50-day moving-average for the first time since September...
Gold has risen above $1,200 (now up 13 of the last 15 days)Read More
By Gold prices on Thursday climbed back above the $1,200 mark for the first time since November, as the dollar fell on disappointment that President-elect Donald Trump didn't provide more details on his economic plans at a closely watched press conference.Read More
Gold futures extended their gains to three sessions in a row Wednesday, for their sixth win in seven sessions, and ended at a more than 7-week high. Gold for February delivery added $11.10, or 1%, to close at $1,196.60 an ounce on the Comex division of the New York Mercantile Exchange.Read More
Investors wait for Trump news conference * Political uncertainty also emanates from Europe * Palladium prices could see correction -analyst (Recasts, adds comment, changes dateline from Bengaluru) By Pratima Desai LONDON, Jan 11 Gold hit six-week highs on Wednesday as investors worrying about political uncertainty bought the precious metal, but dollar strength due to higher U.S.Read More
Client visits to our Los Angeles office are by appointment only for security reasons. Call or email us to schedule an appoinment.
Client visits to our Corporate Office are by appointment only for security reasons. Call or email us to schedule an appoinment.