By Teeka Tiwari, editor, Palm Beach Confidential
It’s the largest spending bill in history…
On Wednesday, the Senate passed a historic $2 trillion stimulus package to rescue the U.S. economy from the ravages of the coronavirus pandemic.
The money allocated in the bill is more than the combined GDPs of Argentina, Belgium, and the Netherlands…
If you divvied that up among every man, woman, and child living in America, they’d each receive more than $6,700. (Instead, the average family of four will get about $3,400 in total payments, depending on their income level.)
The full details have yet to be released. And it still needs approval from the House and President Trump’s signature. But both are likely…
Here’s what’s inside the massive bill:
- $250 billion for direct payments to individuals and families
- $350 billion in small business loans
- $250 billion in unemployment insurance benefits
- $500 billion in loans for distressed companies
Look, we know drastic times call for drastic measures.
And with much of the U.S. economy shut down and nearly half the population on lockdown, we’re definitely living in drastic times right now.
But when this bill is signed into law, we’ll see a massive influx of dollars into the financial system… And that means inflation is on the way.
Today, we’ll tell you how we’re preparing for this flood of inflation and what you can do to protect your money from it.
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The government is under immense pressure to bail out the entire economy – including airlines, restaurants, energy companies… all the way down to ordinary families.
So we understand the need to act.
Now, the Dow, S&P 500, and Nasdaq all climbed over 3% Thursday morning, in response to the recently passed recovery bill. But whether the bill jumpstarts the economy for the long term, however, remains to be seen…
Assuredly, it does add $2 trillion to the $3.5 trillion in quantitative easing the Fed’s already pumped into the economy since 2008.
And the biggest danger of all from this money-printing is that this new currency is being put into the global economy at an alarming rate – with no plans to remove it.
As more and more currency units are added to the global economy, they’re worth less and less.
It’s simple supply and demand… the more you have of something, the less it’s worth.
With central banks flooding the world with currency – and Congress turning on its fire hose – the potential for runaway inflation looms large. And we may see the world’s currency bubble pop.
But that’s why, until the world returns to a reliable currency standard, everyone needs to own assets that can’t be created by government fiat money. As investors, we’ll need to look elsewhere for alternatives.
And our two favorites for this occasion are gold and crypto.
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We’re not gold bugs…
We don’t treat gold and other precious metals as “investments.” Instead, we view them as disaster insurance.
It could be financial Armageddon… a stock market freefall… your bank going under… or a personal lawsuit against you. Or, in this case, a global pandemic.
We like gold because it protects you from inflation, gets your assets out of the depreciating dollar, and has a fixed supply that’s free from government interference. Plus, it diversifies your portfolio.
But since gold doesn’t produce income and doesn’t always increase in value, we generally allocate up to 5% of a portfolio to precious metals.
As Daily editor Teeka Tiwari says:
As a hedge against the world’s fiat system collapsing, gold makes sense. That’s why we recommend holding up to a 5% allocation of precious metals.
If the world really does go to hell in a handbasket, that 5% allocation could end up becoming more valuable than the other 95% of your investment assets.
This asset class includes our favorite precious metals, gold and silver (coins, bars, and ETFs). But there are others, including palladium, platinum, etc.
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Like gold, bitcoin isn’t controlled by any government. You can’t create it out of thin air. Its supply is governed by computer code – so it’s also fixed…
This makes it a good asset for your portfolio in a world of runaway inflation, like we’re seeing now.
In fact, Argentines turned to bitcoin last year when their currency lost value. Instead of putting money in the bank, many were willing to pay a $1,000 premium or more for bitcoin.
And bitcoin can go beyond simply diversifying your portfolio. It has a higher upside potential, too – much higher than gold.
Of course, bitcoin is still a relatively new asset. It’s only been around about a decade compared to gold, which has been around for millennia. So it’s very volatile.
But here’s Teeka’s take on that:
For those who have lived through several currency devaluations (like Argentines), bitcoin is a substitute to putting their money in banks. In fact, they’re willing to pay a $1,000 premium or more for bitcoin.
The government can stop them from buying U.S. dollars… But it can’t stop them from buying bitcoin. Even with bitcoin’s wild volatility, they’d rather have 20% of something than 100% of nothing.
And despite selling off like everything else over the past month, bitcoin continues to hold its own compared to other assets.
Since January 1, it’s down about 8% – which is outperforming the broad market, now down more than 20%.
We recommend you allocate only a small portion of your portfolio to cryptos – up to 2%. Remember, it will help diversify your assets. And unlike gold, a small grubstake in crypto could turn into life-changing gains.
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