Joe Elkjer
Precious Metals Advisor
Joe Elkjer, a Precious Metals Advisor at Scottsdale Bullion & Coin since 2019, specializes in helping clients protect their assets through tangible investments. With a strong background in business and finance, he emphasizes stellar customer service and stays dedicated to informing clients about market impacts through frequent appearances on The Gold Spot.
“We’ve never shut down the world before, so when everything reopens, when everyone’s restocking inventories, and everyone’s coming out and buying goods—demand is surging. Demand that won’t be permanent.”— Damian White, Scottsdale Bullion & Coin Precious Metals Advisor
A lot has changed since the shutdowns of early 2020: now you can count the number of people you know who are unemployed on one hand instead of two. You can travel again because there’s finally somewhere to go without a “closed sign” on it—it’ll just cost you twice as much in gas to get there. Because in the “New Normal,” freedom costs more…
…and the price tag’s rising. Inflation roared to 6.8% last month, twice as high as the White House anticipated.
The Fed says inflation’s transitory, but you know what big banks think? This reopening boom is transitory. Bank of America analysts predict the economy to sputter out in Q3.1 Now.
‘Growth has peaked, the economy will slow a bit in the second half of this year, then much more noticeably in the first half of 2022 as fiscal support fades… The tailwind just blows less strongly, and may stop altogether by this time next year.’— Mark Zandi, chief economist at Moody’s Analytics.
‘70s Stagflation Again?
You know what rising inflation and a stagnant economy could mean? Especially with the cash-flooded system?
A repeat of the stagflation you saw in the 1970s: sky-high gas prices, rolling recessions, a floundering Fed, and an anemic administration.
Is this the Black Swan big tech just bought $50 million in gold bars to prepare for?
Was it really stagflation Berkshire Hathaway was hedging against when it purchased a $562 million position in Barrick Gold?
Are you going to wait and see if the value of every dollar you own drops even further?
Or follow big capitol’s lead and start hedging against stagflation with precious metals?
