The 15th annual Wealth Summit was held last Saturday at the AM870 The Answer Studios in Glendale, CA. Kenneth Russo, Sr VP at Midas Gold Group, was invited as a guest speaker and interviewed by Jennifer Horn and Grant Stinchfield, the hosts of The Morning Answer with Jen and Grant.
The main topic discussed at the Wealth Summit was the need for every single investor today to protect their nest egg and to diversify their paper assets to hold on to their purchasing power. The need for wealth preservation and financial privacy has never been more important in history. Our fiat currency system is based on paper Federal Reserve Notes and is no longer backed by any commodity or asset. Our paper money was backed by physical gold all the way up to 1971, when the dollar was removed from the Gold Standard. The debt situation here in the US and globally is spiraling out of control, and the money system as we know it is on its last leg. The banking system is going digital as the government and central banks seek total financial control and aim to eliminate any financial privacy and financial freedom that we have left.
It was also discussed at the Wealth Summit that if you are fortunate enough to have wealth, it would make sense to diversify a portion of it into physical gold and silver as stocks and real estate is overvalued and we are possibly witnessing the beginning stages of the bursting of the biggest asset bubble in history. It would make total sense to take some of your paper risk out of the market and get some of your money back in your own control and own possession. Ken mentioned how clients of Midas Gold Group are looking to take some of their money out of the banking system and financial markets while they still can and while the price of gold is still undervalued and offers a great opportunity for wealth preservation and future price appreciation.