Last night, in the most watched debate in history, Hillary Clinton and Donald Trump faced off with sharply opposed views on the economy, trade and national security. Anyone hoping for a quick knockout blow from one or the other was disappointed.
However, there was a clear loser in last night’s debate: America’s financial system.
On the issue of jobs and the economy, both candidates agreed that drastic action was needed to turn around the U.S.A.
Clinton emphasized new spending on programs such as debt-free college, retraining, school loan forgiveness, paid family leave and more: with the costs to be covered (hopefully) by higher taxes on the wealthy and corporations. Trump suggested slashing corporate taxes by 2/3rds and renegotiating trade deals with other nations to increase American jobs and general prosperity.
Does it sound like either path will reduce, or even slow, our crushing national debt?
Again and again, both candidates referenced the chilling $20 trillion that America owes. However, the economic policies that they suggested seem, at best, unlikely to lead to even long-term improvements.
This is not the time for slow, indirect action to fix the debt, when many experts like Ron Paul are calling for emergency action now.
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The other big issue was security, both physical and virtual. Both candidates spoke about the dangerous conditions in U.S. cities, the looming threat of ISIS and the vulnerability our banks have to cyber hackers. Clinton specifically highlighted cybersecurity as one of the most important issues facing our country. Trump called for greater “law and order.”
Did you hear anything that made you and your family feel safer?
That isn’t to say that either candidate can’t get the job done on the economy or security. But any prudent person would say that now is not a time to rely on politicians or the national government to protect you and your retirement plan.
You Can Rely on Gold
Amid the fray and chatter, gold has continued doing what it has for centuries: offering an alternative way to diversify your heard-earned wealth away from the whims of financial titans, reserve banks and political parties.
Bloomberg reports that gold traders and analysts remain bullish on gold on the back of the current Federal Reserve outlook. Money is pouring back into precious metals as low borrowing costs in the U.S. and stimulus by central banks worldwide propel demand for gold.
ICBC Standard Bank looks for gold to rise above $1,400 an ounce before the end of 2016. ICBC’s analysts believe there is little prospect that the Fed will raise rates in December, benefiting gold. Just last week, noted gold expert Rob McEwen, CEO of McEwen Mining Inc, predicted that gold prices could surge by the end of 2016 by as much as 44%.
Price Futures analyst Phil Flynn thinks gold is poised for more gains because interest rates will be lower for a longer period of time. Even if rates rise in December, the Fed does not appear to be moving towards an aggressive tightening cycle. BMO analyst Russ Visch believes both gold and silver have plenty of upside potential. RJO Futures senior market strategist Bob Haberkorn agrees the Fed’s action (or lack thereof) has given new life to the gold market.
Safeguard Your Family and Diversify
Whoever wins the presidency, one-half of the country will loathe the victor and the real loser will be paper-based assets backed by hopelessly divided governments and hacker-prone financial institutions.
While your vote is important, safeguarding your money and having peace of mind is too.
The next President will face a strong and well-financed opposition. Seconds after the election ends, gridlock will return and it’s business as usual. The national debt will rise. Another financial crisis will hit.
Now is the opportune time to own gold so you can be ready when the next unthinkable event happens.
