In a surprising event on Wednesday, the Democrats managed to turn both Georgia Senate seats blue giving them a slim majority in both houses of government. Given the Democrats’ control of the Congress, the Senate, and White House, markets finally got the so-called blue wave scenario, however narrow. Democrats controlled the Presidency and both chambers […]
The US supplied the Allies in WWII and got paid in gold. After the war, countries linked their currencies to the US dollar, which was linked to gold. The Gold Standard ended completely in 1971, but the US dollar’s reserve status remained. Today more than 61% of all foreign bank reserves are denominated in US […]
For most of us, 2020 has been a year that we never could have imagined at the end of 2019. The idea that governments would choose what businesses could be open which ones could close would have seemed impossible in this country. Who could have imagined that 2020 would see the stock market reach record […]
The US dollar is down nearly 12% since the March 2020 peak. Gold is up 23% from the March price swoon. Meanwhile, the Federal Reserve has increased the money supply by more than 25% n 2020 alone, a number that should be shocking to anyone who has worked had to accumulate savings in US dollars.
Gold hit an all-time high in price during the beginning of August of 2020. Since then gold has fallen approximately 13% after a great run from 1,480 to 2,060 in five months. One of the toughest things to do as an investor is to stay the course. Weak hands selling their gold creating downward pressure […]
Gold has been used as money for thousands of years. Egyptian pharaohs were buried with their gold; the Roman Empire used gold as money during its reign as a world power; Spanish conquistadors pillaged the New World for gold; the California Gold Rush attracted people from all over the world. During times of chaos, many […]
Since the financial crisis of 2008, many banking reforms have addressed the notion of “too big to fail.” Unfortunately, the laws and reforms touted as being to “protect” consumers, only infringe on our rights freedoms. These large entities such as banks and insurance companies are likely to draw up rules and regulations that will benefit […]
Midas Gold Group does not act as a financial advisor or give financial planning advice. Certified Public Accountants provide tax advice and tax planning. Midas Gold Group is simply a gold specialist and recommends assets that are metal-based and can be held physically in a retirement account or held physically in an individual’s possession. The […]
The US economy just posted its largest fiscal deficit on record according to Bloomberg. The budget shortfall more than tripled to $3.1 trillion, swelling the national debt to exceed the entire US economy. The deficit as a share of the economy surged to 16%, the largest since 1945. Gold hit an all-time high in August. […]
Warren Buffett’s Berkshire stock has tripled the performance of the S&P 500 over the past 20 years. This latest move though says a lot about where we are headed over the next decade possibly.
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