A recent report says real U.S. debt – including unfunded liabilities for America’s biggest entitlement programs – is now so great that the debt burden share shouldered by American taxpayers is closing in on three-quarters of a million dollars per person. And as that “can” continues getting kicked down the road, the figure will only rise … until it can rise no more. When that point is reached and the financial system finally collapses under the weight, it could well be those with the foresight to have purchased gold and silver who will stand the best chance of surviving the debacle.
- You might think your debt load is bad because you have a car loan, a mortgage payment and perhaps some credit card obligations, but you don’t know the half of it. The nonprofit group, Truth In Accounting (TIA), devoted to ferreting out what’s really going on inside the government’s financial house, has determined each federal taxpayer now has a near-$700,000 annual debt burden thanks to continued government mismanagement. As TIA breaks it down, the U.S. presently has an actual debt burden of $105 trillion if you take into account unfunded liabilities rooted in Social Security and Medicare obligations – and that stunning figure equates to a $696,000 share of the actual debt for each American. Got gold?
- If you’re a member of a German family, there’s a pretty good chance you own gold – and not just in a jewelry box. According to Australian news site com.au, nearly 40% of Germans have gold on deposit at their local banks. Private citizens in Germany own a total of nearly 9,000 metric tons of gold, with roughly 55% of that held in the form of bars and coins. Add to that the roughly 3,400 metric tons of gold owned by the Bundesbank, the country’s central bank, and Germany as a nation holds about 6.5% of global gold reserves.
- In one of the more unique pro-gold pieces you may have read in a while, Arkadiusz Sieroń of FXStreet suggests individuals can learn useful lessons about the value of gold from the recent terrible fire that swept through Paris’ Notre Dame Cathedral. Specifically, Sieroń focuses on the resilience of the golden cross that serves as the centerpiece of the cathedral altar (it survived the fire). Sieroń says the cross’ resilience is a metaphor for gold’s inherent strength and power as a store of wealth and portfolio diversifier. “During a financial catastrophe, many assets turn into ashes, while gold remains untouched and glows amongst them,” writes Sieroń.
As Germany illustrates, financial culture in other parts of the world does not view precious metals merely as alternative assets but as genuine assets every bit as viable as more popular mainstream assets. That’s not how it is for most folks in the U.S., but as long as you see the wisdom of including metals in your portfolio, that’s all that matters. Call Augusta Precious Metals at 855-242-4121 or visit Augustapreciousmetals.com. Don’t forget to ask us about the gold IRA…