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Is America Headed for Gold-Backed Money? (And What it Means for You)

The Daniela Cambone Show Nov 26, 2024

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The debt spending is going to accelerate… and silver is going to go higher,” says Garrett Goggin, founder and publisher of the Golden Portfolio newsletter. Speaking with Daniela Cambone, he explains that silver is on track to reach a three-digit high due to its strong connection to the economy. Goggin also expresses optimism about the U.S. economy, predicting an era he calls “America’s great awakening” under Trump 2.0. Reflecting on historical trends, he suggests a strong correlation between societal decline and the abandonment of the gold standard, stating, “Why did this all happen around the 70s? It’s because America got off the gold standard, and then it became all about big business. Citizens’ health took a back seat to that.”

The Return to Gold: Navigating Economic Trends with Garrett Goggin

In a recent conversation with Daniela Cambone, renowned financial analyst Garrett Goggin shed light on the shifting tides of the global economy, focusing on the vital role of precious metals like gold and silver in securing financial stability amidst uncertain times. As economic trends continue to evolve, understanding the significance of the gold standard and the broader implications of government policies is more crucial than ever.

Economic Trends and Precious Metals: A Historical Perspective

The interview delved deep into how economic trends have shaped the financial landscape over the decades. Goggin emphasized the long-term impacts of the United States abandoning the gold standard in the 1970s. He highlighted that this shift ushered in an era of unchecked government spending, soaring US debt, and a significant decline in societal well-being.

“Since moving off the gold standard, the U.S. debt has reached an eye-watering $37 trillion,” Goggin explained. “Debt keeps rising, and government spending remains the backbone of economic growth, but it’s a fragile system.”

For those who value financial independence and stability, this historical insight underscores the importance of tangible assets like gold and silver as safe havens in uncertain economic climates.

A Silver Opportunity Amidst Green Energy and Global Demand

While the discussion largely revolved around gold, silver also took center stage. Goggin noted that silver is experiencing a significant supply deficit, with global demand surpassing production for over five years. Silver’s applications in green technology, such as electric vehicles and innovative battery systems, continue to grow, making it a valuable investment for forward-thinking individuals.

“Silver has always been a store of value, just like gold,” said Goggin. “But with its industrial applications skyrocketing, it has a dual role as a precious metal and a critical resource for future technologies.”

Gold in a Modern Economy

The conversation also touched on the potential resurgence of the gold standard or similar monetary frameworks, such as pegging GDP to gold reserves. Goggin discussed how European nations are already exploring this approach, with some holding gold reserves equivalent to 4% of their GDP. In contrast, the U.S. lags behind, holding reserves closer to 2%.

“Revaluing gold is a politically feasible solution to sustain government spending while maintaining economic credibility,” Goggin stated. This idea aligns with the growing realization that gold remains a cornerstone of financial systems, even in a digital era dominated by cryptocurrencies like Bitcoin.

The Role of ITM Trading in Safeguarding Wealth

At ITM Trading, we understand the concerns of our financially conservative audience. The insights shared by Garrett Goggin resonate with our mission to educate and empower individuals to safeguard their wealth. Whether you’re considering gold as a hedge against inflation or exploring silver as an investment in green technology, we’re here to provide expert guidance.

By revisiting the principles of the gold standard and staying informed about economic trends, you can navigate today’s financial uncertainties with confidence. Let us help you take the first step toward securing your financial future.

Final Thoughts: A Golden Opportunity

As Daniela Cambone and Garrett Goggin concluded, gold and silver continue to offer unmatched value in an era of rising debt and economic uncertainty. Staying informed about economic trends and acting decisively can make all the difference in preserving and growing your wealth.

For more insights and expert advice on investing in precious metals, contact ITM Trading today. Your financial security starts with understanding the power of gold and silver.

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