Protect Your Retirement from the Raging Bears
In a recent appearance on RT Boom Bust, Peter Schiff emphasized the stock market bubble has burst and we are already in a bear market.
This is early in this bear market. It’s very young and unfortunately, it’s going to be very long-lived. I think this is going to be similar, if not worse, than the bear market that went from 1966 to 1982. It took 16 years for the Dow to make a new high, and during that time period, inflation took about 70% away from the Dow’s value. This time I think it’s going to be worse.”
This isn’t good news if you’re planning for your retirement. So, how can you protect your wealth as the stock market bears rage? One way is by adding precious metals to your retirement plan.
It’s not as hard as you might think. In fact, Peter just released a new video series explaining how and why you can incorporate physical gold and silver directly into your retirement account.
Click here to watch all three videos in Peter Schiff’s new IRA Series
A lot of people recognize the value of investing in gold and silver. It’s the ideal hedge against inflation and currency devaluation, and it also serves as a diversifier when stocks take a downward turn. As Peter noted in one of his new videos, “Gold can act as a hedge to balance out the remainder of your portfolio.”
But a lot of investors don’t realize they can add physical bars and coins to their retirement accounts. This is especially crucial as we enter into what could be a brutal bear market.
We saw what happens when Fed bubbles burst in 2007 and 2008. It resulted in what we now call the Great Recession. During the bear market that ran from Oct. 9, 2007, to March 9, 2009, the S&P 500 lost 50% of its value. If you were on the verge of retirement in 2006, you probably thought you were sitting pretty. Then things changed in the blink of an eye.
Peter said the stage is set for an even worse crisis the next time around. Sadly, the mainstream still thinks everything is great – just like it did in the days before the 2008 crash.
They don’t even understand the music or what’s playing. What they don’t get is that we are about to finish the financial crisis and Great Recession that started 10 years ago in 2008. Because all the Fed’s succeeded in doing was interrupting that process, which was the market’s cure for the underlying economic disease, which is now much worse. Ten years of additional debt – borrowing and spending – simply allowed us to reflate an even bigger bubble than the one that popped before. And so, as a result, we are in a much worse economic condition than we were on the eve of the last crisis. And so now, the finishing process is going to be far more severe. So, the back half of the great recession is going to be much greater than the first half, and the rest of the financial crisis is going to be much worse than at the beginning.”
Precious metals can help stabilize your portfolio during the downturn. While the bear market in stocks has just begun and the confidence bubble has popped, Peter said he believes the gold bear market has come to an end.
One of the reasons that I am very confident that the gold bear market is over and that we’re in a bull market is because everybody has already thrown in the towel and lost so much confidence. In the stock market, that hasn’t happened yet. In the bond market, that probably hasn’t happened yet. The cryptocurrency market – not even close to happening. And so, the markets where people are still very confident are the ones that are ripe to decline. I think one where you have maximum pessimism like you did in the gold market, those markets are washed out, and so we’re early in a bull market when it comes to gold.”
We’ve all heard the saying, “Don’t put all of your eggs in one basket.” And yet, most people place virtually all of their retirement savings in stocks and bonds through their 401(k)s. Adding physical gold and silver into the mix will diversify your portfolio and help shield you from the bears. It’s not difficult to add precious metals to your retirement mix. We can help you every step of the way. Just click the banner below for more information.
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