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Federal Reserve Chairman Jerome Powell said last September he didn’t ever see the central bank turning to negative interest rates. But his view could be in the minority among Fed overseers. Former Federal Reserve Chairpersons Alan Greenspan and Janet Yellen have gone on record as receptive to negative rates. Now, Ben Bernanke has publicly cast his vote in support of the controversial policy tool. President Trump aggressively supports sub-zero rates. Does this all mean a consensus is building among U.S. financial and political leaders for negative interest rates? This week’s Touchpoint has more.
- Ben Bernanke is the former Fed chair responsible for post-financial-crisis quantitative easing (QE) measures that massively expanded the central bank’s balance sheet. He said in his blog last week that “the extra policy space provided by negative rates could be useful.” CNBC.com reports Bernanke also advocated further for his beloved QE. He wrote, “The effectiveness of QE does not depend on its being deployed during a period of market turbulence.” In spite of current Fed Chairman Jerome Powell’s public declarations against negative rates, it seems the broad narrative among the financial elite is turning decidedly in favor of their use. Will they soon be a fact of life here in America?
- The Federal Reserve is on a cash-printing binge, and it doesn’t appear it will stop – or even slow – anytime soon. According to Axios, the New York Fed pumped more than 83 billion dollars into financial markets Thursday. That same day, Federal Reserve Vice Chairman Richard Clarida told the Council on Foreign Relations that the central bank likely would continue expanding its balance sheet “at least through April.” Some experts believe the Fed will continue inflating the money supply long after April, however. Priya Misra, head of global rates strategy at TD Securities, told Axios she’s expecting the central bank to add as much as another 200 billion dollars in reserves. She also believes the Fed will “continue its Treasury bill buying through July to about 500 billion dollars.”
- John Doody at Daily Wealth wants you to know that, as the world increasingly turns to clean energy, silver is poised to skyrocket. Doody advises discerning savers to put aside feelings about the climate change debate long enough to recognize silver’s tremendous potential as “governments around the world pressure the transportation and energy sectors to ‘do something’ about their carbon emissions.” According to Doody, silver demand from the photovoltaic industry (solar panels) alone is up almost 1,000% in just the last 10 years. And, he points out, the substantive push for clean energy is still just in its infancy. Doody reminds readers that silver and gold often are lumped together as hedges and stores of value. But silver is essential to so many industries in a way gold is not. Therefore, he says, silver can provide savers with an unmatched potential benefit.
- Could ongoing Middle East tension be the trigger that sends gold past its all-time price record in 2020? Geopolitical troubles can spark a rise in the value of safe-haven assets such as gold. However, the price benefits often wither as soon as crisis conditions moderate. But not always. Take the current U.S./Iran face-off, for example. Some experts believe the resulting gold surge could be so great the metal surpasses its all-time high later this year. To learn more, read Augusta’s latest blog article here.
How to Position Yourself for Protection and a Gold Surge
A recent Augusta blog article discussed a gold prediction by Casey Analyst researcher Nick Giambruno. He said that an “epic gold bull market” was on tap for this year. Giambruno cited no fewer than eight reasons he believes gold will have an extraordinary run over the next 12 months. And he made his prediction before Iran and the U.S. started shooting missiles at each other sending gold higher by 6%.
The stars are lining up in support of gold for 2020. Are you positioned to capitalize on this with precious metals in your personal financial mix? If not, it’s time to call Augusta Precious Metals at 800-700-1008 or visit Augustapreciousmetals.com. Ask an Augusta customer success agent if you’re eligible for our live 30-minute Profit & Protect Web Conference. It’s a one-of-a-kind presentation hosted by Augusta’s lead economic analyst and Harvard Business School member Devlyn Steele. It will open your eyes to true and disturbing “inside” facts about the real forces driving our economy that may be keeping you from achieving your long-term financial goals.