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Gold $1223.3 -2.1
Silver $14.43 -0.02
Talk to a representative: 855-242-4121

This Week's Touchpoint

Weekly Touchpoint: Over Half of American Children Live In Households that Receive Welfare

U.S. Economy Not What It Seems.

One of the better magic tricks of late is the American government’s convincing its citizens the U.S. economy is flush and we are awash in robust economic times. Although the unemployment rate remains firmly at 4%, there’s a wealth of information that tells us things are actually pretty bad – including a recent report that found more than 50% of American kids are living in a household where at least one person is receiving government assistance! The first step to overcoming whatever financial challenges you face is understanding the economic sleights of hand covering them up.

  • Here’s a piece of economic data that should make your jaw hit the floor: According to the Census Bureau, over half of all U.S. children are now living in a home where at least one family member receives financial assistance from a means-tested government program. Terence P. Jeffrey of breaks down the numbers and reveals America has a lot of work to do to reestablish a path to prosperity for its citizens.

  • There’s more information reminding us of the lasting damage economic upheaval can cause. According to a stunning new report from the Federal Reserve Bank of San Francisco, the 2008 global financial crisis wounded the nation’s gross domestic product (GDP) so severely that the average American has lost $70,000 in lifetime income as a result. For more information, refer to this article from TIME.

  • In the wake of another round of U.S. sanctions, the Kremlin says it will move faster than ever to dump the greenback. As reported by, Russian Deputy Foreign Minister Sergei Ryabkov said in a recent interview with International Affairs magazine that “the time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives.”

  • Investors often look to gold as a safe haven from economic mayhem. But what about gold’s value as an asset for capital appreciation? The popular narrative says gold is no match for stocks in that way, but is that really true? As it turns out, over the last 50 years, gold actually has posted a better rate of return than equities. For more on the benefit of holding gold as a core portfolio asset, read the latest blog article from Augusta.

As surreal as it may seem, we’re now living in a U.S.A. where nearly half the households cannot afford food and rent and over half the kids under 18 reside in homes where someone is receiving a check from a means-tested government assistance program. Will things get better? The more important question for you is this: Are you ready if they don’t? For more information on the role physical gold and silver can play in keeping your retirement safe as the economy grows ever weaker, call Augusta Precious Metals at 855-242-4121 or visit

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.