In November, the Federal Reserve is ready to raise interest in the next two meetings in November and December, with the Fed expected to increase rates     by 75 basis points for the fourth time in a row. The national debt has accelerated to $31.4 trillion, while the budget deficit is $1.4 trillion in the fiscal year 2022. The September employment data showed lackluster job creation   , with a decline of 3.5 percent, a decrease in job openings by almost 10 percent, and wage growth at approximately 5 percent, all lower than expected. 

Since last year   , grocery prices have skyrocketed    by 30 percent, dairy-related products are up by 15.9 percent, bread is up by 14.7 percent, and butter by 26.6 percent. On October 16, 2022, the New York Post reported that since President Biden took office, monthly savings have collapsed, falling 83 percent. The Post article noted    that since the start of 2022, 401(k) plans had suffered $2.1 trillion in losses. The average 401(k) plan had over $135,000 at the start of 2022, but today those plans have shrunk to about $101,000. This drop represents an average loss of $34,000, or 25 percent of the plan’s value at the start of the year.

A survey conducted by the Nationwide Retirement Institute in October showed    nearly one in five Americans (18 percent) say they skipped meals or didn’t buy groceries due to high inflation (including 28% of Gen Z and 23 percent of millennials). The survey showed that over the last 12 months, nearly two in five American households (40 percent) received food or goods from a food bank (22 percent for Millennials, and the roughly same amount (17 percent) stopped buying healthier foods (organic or high-priced healthy foods). Grocery prices have climbed    13 percent from a year ago, rising 0.7 percent from August to September.

Just consider the following economic indicators, comparing the last day President Trump was in office, March 20, 2022, to the performance of President Biden at the end of October 2022. This quick survey of economic indicators makes clear the Biden administration’s economic policies have backfired.

Swiss America
Gold and Silver Investing

For those who adhere to the investment adage, “Buy Low, Sell High,” the Biden administration appears to be serving up a rare opportunity to buy gold and silver when precious metal prices are down from previous year highs and positioned for an historic advance.

In a weird rush of déjà vu, we can easily imagine we have returned to the presidency of Jimmy Carter, experiencing once again the bizarre phenomenon of stagflation.  Like what happened in the late 1970s, today’s economy is stalling while prices go through the roof.  Finally, Federal Reserve chairman Jerome Powell has admitted that inflation today is not a temporary phenomenon caused by the economy starting up again.  

Inflation in the United States has rapidly moved into double digits, close to the rarified high altitude of 14.8 percent that marked the top of the Carter era hyperinflation.  In 1979, then-Fed Chair Paul Volcker placed a lid on the money supply, raising interest rates to a peak of 20 percent in June 1981 and driving inflation down from a high of 14.8 percent in March 1980 to 2.5 percent three years later.  The pain of Volcker’s decisive moves was that the U.S. economy suffered two punishing recessions.  

The Biden administration’s penchant under the “Inflation Reduction Act” to spend another trillion dollars in Modern Monetary Theory deficit spending suggests we are not yet at the height of this new, increasingly painful round of hyperinflation.  To make matters worse, with the escalating costs of energy and food pounding the middle class, the United States has entered another recessionary period of stagnant economic growth. 

I first began working with Craig R. Smith, the Chairman Emeritus of Swiss America Trading Corporation in 2005, when we co-authored Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil – a bestselling book that continues to sell briskly even today, nearly 20 years after Craig and I first met.  On every website I have created since 2004, including this one, I have been honored to represent Swiss America.  Since 1982, Swiss America has advised clients to diversify at least a small portion of their assets in U.S. gold and silver coins for these four reasons: (1.) Liquidity, (2) Safety, (3) Profit Potential, and (4) Privacy of Ownership … in that order. 

The fundamentals for gold and silver investing have never looked better.  As the Biden administration continues to spend trillions of dollars, the move is on in the United States – as well as internationally – to “de-dollarize,” a move that has once again enhanced the value of gold and silver as long-term investment assets capable of holding value.  Precious metals also hedge against devaluations in national currencies and the faltering of cryptocurrencies amid an increasingly expected return globally to the stagflation of the late 1970s. 

Precious metals increasingly viewed as a “safe-harbor” investment in these uncertain financial times.  Walking Liberty Half Dollars are a very popular U.S. half-dollar coin, minted in 90% silver between 1926-1947.  For a limited time, Swiss America is offering DrJeromeCorsi.com followers a special offer of Walking Liberty Half Dollars at a price of $12.50 each, including delivery.  The Walking Liberty Half Dollar special offer is limited to 250 coins per customer.  To learn more: