LOS ANGELES, Feb. 23, 2021 /PRNewswire/ --
Inflation might be the big story of 2021.
As the vaccine rolls out and Biden pushes his aggressive vaccination schedule along with a historic $1.9 trillion relief bill, policymakers and the Fed have proven they will deal with any and all problems—health and economic—by printing money.
If you add up all of the money the United States has ever printed in the history of the country, over 40% of it was printed in 2020 alone.
During just three months in 2020, the United States increased its deficit by more than it had during the past five recessions combined (i.e., 1973, 1975, 1982, the early 1990s, and the Great Recession of 2008-2009).
With closed theaters and restaurants, slashed airline prices, empty hotels, and government benefits paid or in the pipeline, Americans may have as much as $2 trillion in extra cash socked away by spring.
According to Jack Hanney, CEO of Patriot Gold Group, "The excessive money printing from the Fed to address this pandemic and lock down like most things in life is a double-edged sword: it is a blessing and a curse, as well as fuel for the economic recovery, but may also yield an explosion in prices that policymakers will have no way out of like post World War II." Mr. Hanney continues, "The Fed policy remaining firmly in rescue mode, with interest rates near zero, and a Biden administration that plans to use reconciliation to get their aggressive agenda through is the spark that will ignite a flame that may turn into an inferno of prices for goods and services."
Mr. Hanney goes on to say, "When the vaccine rolls out and the sun comes out, spring is in the air and Americans have been locked down for over a year, the mountain of money that will flood restaurants, hotels, airlines, products, goods, and services, and lead to a surge in prices like we've never seen, boosting the demand for gold as an inflation hedge at a time when we're finding physical supply the most constrained we've seen in a decade. Gold American Eagle sales were up 455% in 2020 as smart money sought a safe haven from a record-breaking expansion in the money supply, record federal budget deficits, and QE Infinity." He continues, "Inflation is bad news for consumers, but it's good for gold and silver."
Bloomberg Intelligence and Saxo Bank raised their silver forecast to $50 an ounce in 2021 based on the excessive money printing and Biden's commitment to renewable energy. Moreover, Bank of America raised their gold forecast to $3,000 per ounce, which indicates a pattern that suggests a 70% surge in gold prices may occur in 18 months.
Patriots Serving Patriots Announces Fee Reimbursement "Inflation Protection" on Many Retirement Options Ahead of Tax Day April 15th 2021
Patriot Gold Group is introducing the "2021 Inflation Protection America First IRA" with our NO FEE FOR LIFE IRA for qualifying IRAs. Patriot Gold Group is lowering the minimum requirement for our NO FEE FOR LIFE IRA and waiving fees for segregated, secured, and insured storage of your safe-haven assets, in addition to waiving the cost of registered and insured shipping to your home so that you—a fellow American—have one less thing to worry about. Patriot Gold Group is also waiving most fees on IRA accounts opened through Tax Day April 15th 2021.
Call the Patriot Gold Group at 800-974-4653 (GOLD) for exclusive details about our incentives, or if you simply have questions regarding current market performance. We're here to help, be of service, and adhere to that altruistic principle that made Consumer Affairs recognize Patriot Gold Group as the Top IRA Gold & Silver Dealer nationwide for an unprecedented five years in a row (i.e., 2016–2020).
About Jack Hanney Jack Hanney is the CEO & Co-Founder of Patriot Gold Group, and a nationally sought-after financial speaker and guest. Recently featured on Fox Los Angeles Good Day LA, OANN, and FOX23 Tulsa, he was interviewed about his insights regarding the global health crisis and its impact on the economy, and he accurately forecasted the challenges in re-opening the economy, mortgage delinquencies, and the subsequent turn in the market. Here: FOX23TULSAJACKHANNEY (PLEASE Click on LINK)
About Patriot Gold Group Patriot Gold Group (www.patriotgoldgroup.com) is a nationwide investment group with more than 50 years of precious metals investing experience. The company has been rated the Top IRA Gold & Silver Dealer by Consumer Affairs for an unprecedented five years in a row (i.e., 2016–2020), is A+ Rated with the Better Business Bureau, has earned a 5-star TrustPilot rating, and has been endorsed by political consultant and New York Times Best-Selling Author Dick Morris.