Chief Investment Strategist, The Freeport Society
We learned some fun facts during last night’s debate…
Depending on who you believe, Donald Trump and Joe Biden both presided over the greatest or the worst economies in U.S. history.
There must be a Schrödinger’s cat joke in there somewhere.
Speaking of cats, apparently illegal Haitian migrants are eating America’s precious felines! (Although authorities in Springfield, Ohio, where the cat devouring is supposed to have taken place, have denied these claims.)
Overall, the debate was a depressing affair.
Harris and Trump traded blow after blow on a long list of issues throughout the event.
But neither said a peep about anything that actually matters to our future…
Worst Shock of All
Take our failing Social Security system.
Without reform, it will leave millions of Americans destitute in their golden years.
That’s why we recommend shares in high-quality companies with outstanding brands (we call them the “Rich Man’s Super Currency”) in our Freeport Investor model portfolio. One of those recommendations, Walmart (WMT), is up 51% since we added it last November.
And neither candidate mentioned the ESG (Environmental, Social, and Governance) racket.
ESG-focused special interest groups and politicians are disrupting how businesses operate, slashing profitability and boosting costs to consumers. That’s why we focus our search for investment opportunities outside of the Environmental, Social, and Governance circus.
And what about the lack of fiscal responsibility on the part of the people we’ve entrusted to run this country?
Neither candidate mentioned the $36 trillion national debt… or that we’re adding $1 trillion to that tally every 100 days.
The country’s annual budget – every dime Uncle Sam spends in a year – didn’t cross the $1 trillion mark until 1987. Now we borrow that much every three months.
Neither the candidates, nor the moderators, seemed to think that mattered.
And that’s the worst election shock of all…
The Most Important Step You Can Take
What the debate showed was that no one is in control.
There’s no brilliant policy wonk waiting in the wings with a blueprint to fix all of this.
We’re on our own.
Moreover, Americans are ready to slit each other’s throats over superficial issues… while we get closer by the day to national bankruptcy.
So it’s up to us to take steps to protect and grow our wealth.
That’s why I write to you often in these pages. To give you insights into the issues that truly matter… and help you build your wealth so that you can shore up your personal freedom.
Right now, the most important step you can take – and a guiding principle here at The Freeport Society – is to protect yourself from the dying dollar.
Since the Federal Reserve’s creation in 1913, the dollar has lost 97% of its value. Mathematically, it can’t ever lose 100%. But every day, we get closer to that figure.
That doesn’t work for me, which is why I believe everyone should own at least a little gold.
Gold isn’t the only inflation hedge. Other real assets such as land and commodities have their place as well.
But gold has been a store of value in one form or another for 6,000 years. And unlike land and most other commodities, it’s been used as money for much of history.
Gold was one of the first investments I made in The Freeport Investor. It’s also one of the few I consider a permanent portfolio holding.
And in this month’s issue, due out tomorrow, I’m introducing a more profitable way to own gold. It gives you “leverage” – or extra oomph – over the gold price. To make sure you don’t miss the details, you can learn how to join us here.
But whatever way you choose to play it, make sure you have some gold in your portfolio.
Don’t liquidate your 401(k) to buy gold bars and then bury them in your backyard. But consider buying a few gold coins and keeping them somewhere safe. Or, if you prefer, stuff a gold-backed ETF into your IRA or brokerage account.
You can’t afford to keep all your savings in a currency that no one in charge has any interest in protecting.
And if the debate taught us anything, it’s that this depressing situation will continue no matter who ends up in the White House next.
Before I go, I’d like to take a moment to remember the lives lost on this day 23 years ago. They may be gone, but they will never be forgotten.
To life, liberty and the pursuit of wealth.