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Weekly Touchpoint — Digital Dollar; Coronavirus Sparks Gold

Posted By Isaac Nuriani |

Is a digital U.S. dollar about to be fast-tracked? A number of nations – including China – are in “research and development” to create their own national digital currency. Calls have been growing for the U.S. to join them. In fact, a former U.S. government agency head is doing everything he can to make the digital dollar a reality in America. This week’s Touchpoint has more on items of interest to discerning retirement savers. The news includes the coronavirus outbreak – another reason to look at the safe-haven benefit provided by gold.

  • Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission, attended the recent World Economic Forum in Davos, Switzerland. There, he made it clear he wants to see a U.S. digital dollar. Giancarlo also recently established the Digital Dollar Foundation to design a digital form of U.S. currency. He says a digital dollar “would be minted by the central bank …  available through the traditional banking system.” Giancarlo claimed the Fed can set up the system so “(the) federal government doesn’t have the ability to check if you’re shopping at Target or Selfridges.” Those who aren’t buying that could find precious metals to be an appealing asset alternative. has more on the push for a digital dollar at Davos.
  • We know economic, political and geopolitical crises can prompt people, companies and nations to run to gold for cover. As we’ve seen in recent days, health crises can prompt a surge in gold, as well. The deadly new Wuhan coronavirus and skepticism that it will be contained soon has weakened markets and energized gold. The yellow metal hit a near-three-week high on Monday after authorities confirmed new cases of the virus over the weekend. Just recently, gold jumped based on fears of an outbreak of war between Iran and the United States. Coronavirus fears, by themselves, will not send gold into record-breaking territory. But, says, it “adds to the already-growing list of global uncertainties, setting the stage for a gold price rally.”
  • Switzerland is five years into a negative interest rate climate, and its wealthiest bank depositors have had enough. In Davos, CNN heard from Swiss bankers, who said some of their richest clients are taking their money and running. Where are they putting the cash? In their own private storage. Commercial banks do their best to keep from passing on negative rates charged by central banks to customers. However, several years of nonstop negative rates have put many retail operations in a bind. To help stay solvent, a growing number of those institutions are charging depositors to hold their money. Swiss private banker Martin Bidermann told CNN he warns clients against holding their own cash, due to security risks. But they’re not listening. Perhaps the country’s new self-service depositors will recognize gold could be the best way to defend against negative rates.
  • Will gold power to a new all-time record price high in 2020? More than a few experts think so, and some believe political and geopolitical factors will provide much of the fuel. For the most part, everyone agrees economic influences will be at the foundation of any gold surge in the near term. Two potential triggers are feeble global industrial output and ongoing central bank cash injections. However, some of the most respected names in asset analysis are convinced otherwise. Instead, they believe Middle East tensions, civil unrest and political instability could be key to gold increases this year. The CIO of the world’s largest hedge fund is one of them. In fact, he is banking (literally) on social/political upheaval propelling gold in 2020. To learn more, read Augusta’s latest blog article here.

Safe-Haven Gold Protects Retirement Savings

There has been great optimism for some time over gold’s prospects in 2020. Many observers see this as the year global economic contraction and monetary policy madness will reign. They believe it will finally waylay markets and cue a genuine gold bull run. And that was before a bevy of noneconomic crisis factors became considerations within the global financial marketplace. Threats of a Middle East war, worldwide civil unrest and a possible global pandemic are creating great interest in gold.

To find out how easy it is to protect your savings with physical gold and silver, call Augusta Precious Metals at 800-700-1008. Or visit Ask if you’re eligible to attend our live 30-minute retirement protection seminar: the Profit & Protect Web Conference. The one-on-one conference is hosted by renowned economic analyst and Harvard Business School member Devlyn Steele. He shares the shocking facts behind so many retirement savers’ failure to reach their long-term goals. However, you’ll learn more than just bad news about economic threats and events such as creation of a digital dollar. You’ll learn how precious metals strategies could help keep you on the path to financial independence as others lose their way.

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