Here’s Why You Should Buy Gold Ahead of These Whacko Elections

  • The United States is sarcastically called a “third world country in a Gucci belt,” and things seem to be getting worse.
  • The recent presidential debate between Donald Trump and Joe Biden doesn’t give the American people much hope for responsible and cohesive leadership any time soon.
  • Investors should consider buying gold as a safe haven against the worsening political situation in the country.

On September 29, incumbent President Donald Trump and his rival Joe Biden squared off in the country’s first presidential debate of the 2020 election. The two candidates took polar opposite stances on many major issues. If Biden becomes president (which is likely judging by recent polls) he would probably work to undo many of Trump’s signature policies, leading to significant uncertainty in the economy.

Meanwhile, the national debt continues to creep higher–trapping the nation between a rock and a hard place.

The government can’t afford to cut taxes or slow spending without potentially crashing the economy. But the unpayable debt could lead to a massive crash in the dollar. In times like these, investors should look to gold to protect their portfolios.

How To Get Free Crypto  

Is the Gold Rally Over–or Just Beginning?

Gold’s rally has stalled, as measured by the gold tracking ETF, GLD. | Data by

Gold has posted a tremendous rally in 2020, with its price soaring 26% year-to-date. But the bull run has tapered off a bit since August, with the metal currently trading 5% below its all-time high of $2,089.

Analysts believe the yellow metal faces headwinds from a stronger dollar amid rising coronavirus cases and new lockdown measures in Europe–factors pushing international investors towards the U.S. markets in a flight to safety.

But the U.S. economy is far from safe. International investors could be in for a rude awakening as the political situation in the country becomes more unstable, and debt levels continue creeping higher.

America’s national debt currently stands at $26.8 trillion, which comes out to around $81,179 per citizen, according to U.S debt The debt load could get significantly worse if Congress passes the $2.2 trillion HEROS Act designed to stimulate the economy.

Coinbase Banner  

America’s debt is a catch-22 because if the government cuts back on spending or raises taxes in the middle of the coronavirus-recession, the economy could crash. But the U.S. economy is too weak to “grow” its way out of the debt crisis no matter how much money Congress and the Federal Reserve throw at the problem.

In the end, investors could lose faith in the dollar because of these challenges.

Some Analysts Predict a Dollar Crash

Watch the video below:

The unpayable debt load is not the only factor that makes the dollar an extremely risky asset. According to Steven Roach, former Chairman of Morgan Stanley Asia, the U.S. dollar could collapse by the end of 2021 because of the nation’s worsening trade deficit.

Roach states the following:

The current-account deficit in the United States suffered a record deterioration in the second quarter. Lacking in saving and wanting to grow, we run these current-account deficits to borrow surplus saving, and that always pushes the currency lower.

While Roach’s predictions are extreme, he may be on to something.

America’s current account deficit, which measures the flow of goods, services, and capital in and out of the country, increased by 52.9% to $170.5 billion in the second quarter. This could put negative pressure on the value of the dollar if the situation continues.

Is Gold Still a Safe Haven?

Gold and the U.S. dollar usually compete for safe-haven status, but over the long term, gold looks like the safer bet. The greenback is under pressure from America’s unsustainable debt load and massive trade deficit. It’s only a matter of time before these factors case the dollar index to collapse lower.

FreeBitcoin Banner  

Go to Source
Author: William Ebbs

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.