Make August 15, 2017, National Gold Day
It's Up to You and James Woods to MAGA
Donald Trump says he wants to make America great again.
I believe him. But I don’t think he can do it.
Now, I’m not saying I think Mr. Trump is a bad politician. Rather, just the opposite. Mr. Trump is a very good politician. I mean, whether you love or hate his policies, there’s no denying he has, at the very least, successfully built a strong base of political supporters. That's politics.
But I don’t think Trump can make America great again.
Truth is, I don’t think any one politician, person, administration, or organization can accomplish such a task. And that's not because I don't think America can't be great.
America will become great again, only when Americans become great again.
It’s up to everybody: you, me, your neighbor, the president, Congress, the cable guy, James Woods... everybody.
That’s why I am officially proposing a plan to you today to raise awareness about the importance of national wealth preservation through gold ownership.
Make August 15th National Gold Day
Did you know over half of all Americans can't afford to write a good check for $500?
Did you know Americans are in more debt today than ever?
U.S. consumer credit during 1Q 2017 grew to over $12.7 trillion, passing levels seen at the height of the credit bubble in 2008.
How do you think this is all going to end?
We can bury our heads in the sand and choose to ignore our financial instability. We can pretend like everything's okay. But America's own financial irresponsibility will eventually come back to bite it in the ass.
Right now Americans need to avoid debt at all costs. And the only monetary asset that's never anyone else's liability is precious metals, most specifically gold.
When you own gold, you own it. All other forms of monetary assets are dependent on someone's (or something's) ability to maintain their integrity.
The U.S. dollar is liable to the whims of the Federal Reserve, just as all other legal tender currencies are tied to their own central banks. Fiat currencies can be printed infinitely and devalued into oblivion.
Decentralized digital currencies (non-government money) like Bitcoin are not subject to central bank policies, but they are dependent on the integrity of the blockchain system.
The physical properties and supply of gold, on the other had, are not controlled by anyone, nor are they dependent on any kind of maintenance.
All other forms of money are also dependent on something (or someone) to legitimize them. No one would accept Monopoly money as a legitimate payment of debt. Gold is self-legitimate, being the ultimate store of wealth based on its physical properties.
Gold (and other precious metals) is the only monetary asset that's not debt or liability or any kind. And that's exactly where Americans should be saving their wealth.
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Americans Are Gold Poor
The United States may be the wealthiest nation on Earth when measured in U.S. dollars. But America is actually very gold poor.
The Federal Reserve is the custodian for the Treasury's 8,133 tonnes of gold. This stockpile is what we generally refer to as America's “gold reserve.”
The United States maintains the largest official gold reserve in the world. But how much of that gold actually belongs to you as an individual?
None. Nada. Zip. Zilch. Doughnuts.
And if you don't believe me, go and try to make a withdrawal of your gold from Fort Knox. If you were the true owner, the courts of law would back you in the withdrawal.
America's “gold reserve” doesn't belong to Americans. It belongs to the government.
There are only very rough estimates on private gold ownership in the U.S., but most suggest that less than 2% of all Americans own gold bullion. Compare that to a country generally considered to be among the poorest in the world: India
Including jewelry, Indians own about 11% of all the world's gold. Indians own more gold than the official reserves of the United States, IMF, Germany, and Switzerland... combined!
For the next major global economic crisis, Indians are prepared. Americans are not. And, as I've already mentioned, not only are we mostly not prepared, but we've also massively weakened our resistance to economic turmoil through debt and no savings.
That's why I want to make August 15, 2017, the first annual National Gold Day with the purpose of raising awareness about the importance of national wealth preservation through gold ownership.
Why August 15?
On August 15, 1971, President Richard Nixon officially announced that the U.S. dollar would no longer be convertible to gold, effectively ending the gold standard in America and the Bretton Woods system around the world. In a television broadcast, Nixon said the following:
We must protect the position of the American dollar as a pillar of monetary stability around the world. In the past 7 years, there has been an average of one international monetary crisis every year...
I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.
Now, what is this action—which is very technical—what does it mean for you? Let me lay to rest the bugaboo of what is called devaluation.
If you want to buy a foreign car or take a trip abroad, market conditions may cause your dollar to buy slightly less. But if you are among the overwhelming majority of Americans who buy American-made products in America, your dollar will be worth just as much tomorrow as it is today.
The effect of this action, in other words, will be to stabilize the dollar.
Let's take a look at what happened...
Fail! The U.S. dollar was way more stable under the gold standard.
Gold is never anyone else's liability. And it's self-legitimate as a monetary, wealth-preserving asset.
It's highly unlikely that the United States will ever return to a gold standard. But we can put ourselves on a personal gold standard.
Make August 15th National Gold Day
I want to reclaim August 15th as the day the American people got their gold back. But I need your help in getting this message out there. Your country needs your help. And all it's going to take is a few mouse clicks.
Please forward this email to as many gold bugs you know. Ask them to forward it to their friends and family. America needs everyone's help.
Maybe most importantly, be sure to tweet about it if you can with #NationalGoldDay on August 15, 2017.
Until next time,
As an editor at Energy and Capital, Luke’s analysis and market research reach hundreds of thousands of investors every day. Luke is also a contributing editor of Angel Publishing’s Bubble and Bust Report newsletter. There, he helps investors in leveraging the future supply-demand imbalance that he believes could be key to a cyclical upswing in the hard asset markets. For more on Luke, go to his editor’s page.
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