Mitch McConnell said Wednesday that “we need another rescue package,” and that he hopes one can be done “before the end of the year. The democrats want a $2 trillion to $3 trillion stimulus package. Any McConnell-approved plan would be less than what a Democratic-led Senate would endorse, but markets still expect it to be significant. This is on top of $4 trillion the Fed printed and handed out earlier this year. Keep in mind this is only the United States we are discussing, There are many other governments around the globe doing the same. The outcome has no choice except to cause inflation.
When inflation rises, the value of currency goes down and people tend to hold money in the form of gold. In times when inflation remains high over a longer period, gold becomes a tool to hedge against inflationary conditions. This pushes gold prices higher in the inflationary period.
Meanwhile, Biden’s win, combined with a possible divided government, is likely to create uncertainty around the size of future fiscal stimulus measures and a boon to safe haven assets like gold.Investors should consider real gold assets given the Federal Reserve balance sheet expansion and understated inflation, says Frank Holmes, chief executive officer of U.S. Global Investors. These are among the reasons why Holmes believes gold will eclipse $4000 per ounce by 2023.
This brings us to what may be the best value in the gold coin market today. Pre 1933 $20 gold double eagles. These heavy 1 ounce coins have almost NO PREMIUM compared to their younger cousins (like Gold American Eagles or Canada Maple Leafs)
Acquiring these Pre 1933 $20 double eagles now can really pay off, maybe in the not so distant future .
It makes good sense to salt away 10 or 20 of these old $20 gold pieces. Do it today before premiums rise.
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Special arrangements available for larger orders.
