Read Time:3 Minute, 38 Second
Professor Steve Hanke is a renowned economist who served on President Reagan’s Council of Economic Advisors.
In a recent interview on CNBC, Hanke predicted a recession is coming in 2024 due to changes in the money supply not seen since the 1930’s.
Right now the U.S. economy is experiencing the calm before the storm, he said.
From the video (emphasis added):
“The contraction of the money supply will continue on pace and will be in the thick of it in 2024. And I think basically what’s happening: this is kind of the calm before the storm. The soft landing folks think everything looks great – we’re going to have a soft landing. My interpretation is no, they’re not looking at the money supply. And if they were, they’d realize that this is a calm before the storm.“
In a separate interview, Professor Hanke was asked about the role of gold in today’s economic system.
“As Nobel Laureate, my good friend, the late Robert Mandell said, ‘Gold will always have a role in the international monetary system.’
And it does. Now, your question is: Is the role going to get bigger or smaller? I think it’s probably going to get bigger, and in a way that’s because of this reaction to the sanctions, financial sanctions that have been associated with the United States and the European Union, by the way.
But this weaponization of the dollar has opened the window a little bit for gold…”
The growing BRICS alliance (Brazil, Russia, India, China, South Africa, Iran, Saudi Arabia, Egypt, UAE, Ethiopia, Argentina) has been quietly stockpiling gold – and have accelerated purchases in the last year.
Here is a chart of their gold reserves – note the steep rise in the last year:
It isn’t just foreign countries who are moving to hold more gold — many Americans with retirement accounts are doing the same thing.
Genesis Gold Group a faith-driven precious metals company, has been able to keep up with demand because their executives anticipated the surge and have leveraged their relationships to seamlessly keep the flow of wealth going into their customers’ depositories (plus, working with them through this link and the links below benefits Gateway Pundit).
By rolling over any of the various types of retirement accounts their customers currently have, Genesis Gold Group has simplified the process of securing the life’s savings of countless Americans.
This isn’t “paper” or “virtual” gold or silver; Genesis Gold Group customers can physically see their precious metals at their convenience. And when it comes time to take a disbursement, they can convert to cash or have their precious metals shipped directly to their homes.
Genesis Gold Group was given 5 stars by reviewers on the Better Business Bureau website. Here is what some of them say:
“With the downward turn in the market, I have been wanting to transfer my IRA to gold/precious metals. I am so happy that I came across Genesis Gold Group. They made the process seamless . . . They have knowledge, care, and patience with newbies, like me. They kept me informed along the way and reached out several times to see if I had any questions or concerns. I highly recommend them to anyone interested in investing in precious metals.”
“They made it so easy to transfer part of the funds out of my company 401K to set up a precious metals IRA. Everyone I’ve dealt with there is friendly and knowledgeable.”
“The people at Genesis Gold Group have been very helpful to get my 401k from stocks and bonds to silver coins on deposit. They are patient and explained each step and answered my numerous questions along the way.”
If you have wealth or retirement that you want to protect with physical precious metals backing a self-directed IRA:
Note: The information provided by Gateway Pundit or any related communications is for informational purposes only and should not be considered as financial advice. Gateway Pundit does not provide personalized investment, financial, or legal advice.