As a student of the economy, I feel obligated to warn you about a looming threat to your retirement savings.
The way the U.S. government is managing the economy has put us on a collision course with a financial disaster that could dwarf the crises in countries like Yugoslavia and Greece.
Why do I believe this? The numbers simply don't lie:
The Congressional Budget Office projects the federal deficit will reach $1.7 trillion this year
Our national debt is at an all-time high of over $34 trillion and growing rapidly each day
Even if the government taxed everyone making $100,000 or more a year at 100%, it still wouldn't be enough to balance the budget
We're already seeing the early warning signs. Inflation is skyrocketing, with prices for gasoline, groceries and housing surging in the past year. The crippling shortages and empty shelves we experienced during the pandemic shutdowns could return and become the norm overnight...
I've studied past economic collapses in countries like Yugoslavia in the 1990s. The government there tried to print its way out of a debt and currency crisis. The result?
Inflation Reached 5 Quadrillion Percent... The Economy Shut Down... Infrastructure Crumbled... And The Social Order Broke Down
Inflation Reached 5 Quadrillion Percent... The Economy Shut Down... Infrastructure Crumbled... And The Social Order Broke Down
This may sound extreme, but similar events unfolded recently in Greece, Iceland, Argentina, and Venezuela.
And despite the rosy economic picture painted by politicians...
The U.S. is on the same path if something doesn't change!
And soon! Just like in those other countries, the entire house of cards could collapse almost overnight if foreign nations stop buying U.S. government debt and dump the dollar as the world's reserve currency.
What would this mean for your 401(k) and other investments? Nothing good, I'm afraid. In a worst case scenario, the dollar's value could plummet, the economy would crash, and your savings could get decimated.
Years Or Even Decades Of Diligent Saving Could Get Wiped Out In A Blink
Years Or Even Decades Of Diligent Saving Could Get Wiped Out In A Blink
But there are steps you can take now to help protect yourself. One option many people are pursuing is diversifying into assets that aren't tied to the dollar or even to economic prosperity, like a Gold IRA.
During past crashes and inflationary periods, gold has proven to be a reliable store of value and safe haven. There's a reason central banks are loading up on gold themselves.
Of course, I'm not saying put everything into gold. But in these unprecedented times, I believe everyone should consider moving a portion of their savings into this time-tested inflation hedge as a sort of financial "insurance policy."
But I urge you not to wait too long. No one can say exactly when the next big crash will hit, but all the pieces are in place. Don't let yourself look back one day and wish you had taken action to shield your hard-earned retirement savings while you still had the chance.
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