SEAL BEACH, Calif., June 21, 2022 /PRNewswire/ -- Economic Hurricane Approaching
Jamie Dimon warned investors to prepare for an economic "hurricane" as the economy struggles against an unprecedented combination of challenges, including tightening monetary policy and Russia's invasion of Ukraine.
"That hurricane is right out there down the road coming our way," the JPMorgan Chase & Co. Chief Executive Officer said at a conference … You better brace yourself."
Patriot Gold Group CEO, Jack Hanney goes on to say, "when you have Jamie Dimon CEO of JP Morgan warning of an 'economic hurricane coming' along with Morgan Stanley warning the market sell-off will only accelerate and the overall S & P index is about to fall sharply with almost all stocks falling in unison you have to start rethinking your defensive positioning and possibility of capital rotation. When considering the geopolitical climate, and seizure of Russia's foreign-exchange reserves this will only fuel more demand for gold from Russia, China, Saudi Arabia and China. Analysts at Goldman Sachs predict record high gold demand from central banks this year as geopolitics prompt shifts to gold."
The U.S. Mint sold 147,000 ounces of Gold in the month of May 2022 and bullion demand is up a massive 617%. U.S. gold bullion sales are up more than 400% from the five-year average between 2015 and 2019. David Einhron founder of Greenlight Capital said "the Fed is bluffing, the Fed doesn't really have the tools to stop inflation. When the Fed has to choose between fighting inflation and supporting the Treasury, I think it has to pick the Treasury. At that point, it's best to have some Gold." Randy Smallwood CEO of Wheaton Precious Metals warned we could see 15%-20% inflation and that "we're just seeing the start of this inflation monster."
In 2021 Palantir Technologies made headlines with their $50.7M investment into Gold. According to their President & COO "You have to be prepared for a future with more Black Swan events" Big Tech companies have been making headlines with their investments in alternative asset classes and out of U.S. Dollars that has raised eyebrows that maybe their visionary, innovative thinking is being applied to investments.
Ray Dalio recently stated "Cash is not a safe investment .. because it will be taxed by inflation" Dalio, the most successful Hedge Fund Manager in the world goes on to say "Know how to balance a portfolio. When equities go down then you see Gold go up. Wealth is not destroyed as much as it is transferred. Be in a safe, well-balanced portfolio. You can reduce your risk without reducing your return."
Jeffries Group said "Gold remains an essential hedge as the threat of stagflation – an environment of low growth and higher inflation continues to grow" Jeffries maintained their long-term forecast remains in place for gold prices to push to $5,500 an ounce.
Patriot Gold Group saw record turnout for their "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 NEW "Stagflation Protection NO FEE FOR LIFE IRA" and waiving fees for dedicated, 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 Monday July 4th 2022.
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 six years in a row (i.e., 2016–2021) A+ Rated with the Better Business Bureau.
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, Newsmax, OANN, and FOX23 Tulsa, he is frequently interviewed about the global health crisis and its impact on the global economy. 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 six years in a row (i.e., 2016–2021), A+ Rated with the Better Business Bureau, has earned a 5-star TrustPilot rating, endorsed & sponsored by Donald J. Trump Political Consultant, Newsmax Host & Patriot Client Dick Morris.
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SOURCE Patriot Gold Group