John Karow
Precious Metals Advisor
John Karow is an experienced lawyer and Precious Metals Advisor at Scottsdale Bullion & Coin. He holds degrees from Lehigh University, the University of Missouri, Cornell University, and St. John’s University School of Law. John is a knowledgeable authority in precious metals, dedicated to helping clients navigate economic cycles and gold and silver investments.
Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
During the most recent presidential debate, the American people were treated to a lot of sensationalism and little substance. Both moderators failed to ask questions around key economic issues facing voters.
In this week’s The Gold Spot, Scottsdale Bullion & Coin Founder Eric Sepanek and Precious Metals Advisor John Karow fill in those gaps by covering what the debate missed and exploring the underlying cause of all this financial chaos.
No Mention of the Dollar
Former President Donald Trump and current Vice President Kamala Harris spent the two-hour debate throwing jabs and touting slogans instead of addressing the giant, green elephant in the room: the waning US dollar. Both candidates briefly mentioned the economy in broad terms but didn’t touch upon the $35 trillion national debt, the Federal Reserve’s uncontrollable printing, or the government’s outrageous spending.
We want to know how these people are going to control the $35 trillion debt…that keeps growing. Not a word.–
We Need a Financial Plan
If any American handled money as irresponsibly as the US government, they would be met with utter financial ruin and even potential legal action. This country needs a concrete, actionable, and effective financial plan ASAP to correct our economic trajectory before it’s too late.
Although specifics weren’t mentioned in the debate, Trump has at least floated the idea of addressing the government’s inherently wasteful operations. He mentioned tapping Elon Musk to head a regulatory spending committee, which would tighten up the laughably loose budget.
Trump’s recent embrace of once-rival Robert F. Kennedy Jr. has the Republican candidate talking about addressing costly bureaucratic arms such as the Food and Drug Administration. For his part, RFK Jr. believes improving the efficiency of these agencies would not only reduce debt but minimize the toll of unhealthy foods and exorbitant drugs.
A Vision Without a Budget
VP Harris treated listeners to a litany of big promises in an apparent bid to boost her favorability ratings as the race heats up. All too predictably, none of her visions came with a detailed budget, defined timeline, or fraud safeguards.
Although Harris remained mum on funding details during the debate, she’s made it painfully clear where the money will come from: the American people. She’s already proposed increasing the already-high capital gains tax to 28% and even mentioned implementing a tax on unrealized gains. Harris’ complicity in the Biden administration also proves she’d have no trouble turning on the spending spigot to fund her pet projects.
Keep Your Eye on the Economy
It’s easy to get distracted by the presidential debate’s theatrics, but investors should remain laser-focused on the economy. The stock market’s pump is sputtering, CPI numbers look bleak, the global geopolitical stage is on fire, and the world faces a looming $91 trillion debt crisis.
Keep your eye on the ball when it comes to the economy.–
Central banks have been buying gold at record rates for a reason. The wealthiest, most experienced, and most informed investors don’t trust their money with the economy. So, why should you?
The Underlying Problem
Modern Monetary Theory (MMT) is the common thread running throughout all these poor financial decisions. Both political parties have proven allegiance to this experimental fiscal policy, from record-breaking pandemic-era spending to the monumental Green New Deal.
MMT assumes debt is harmless because governments can simply print their way out of it. However, testing this theory in real life has resulted in record-setting deficits, stubborn inflation, and a world against the dollar.
If you’d like to learn more about the fringe fiscal policies at the forefront of US economics for years, request a FREE COPY of our Modern Monetary Theory Report. It covers everything investors need to know about protecting their portfolios from this wealth-destroying theory.
Modern Monetary Theory, the Catalyst to the Next Financial Crisis?
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