Americans can readily see the effects of record-high inflation every time they shop. Prices have soared, from the grocery store to the gas pumps. Although inflation has cooled, families are still feeling the pinch.
And the harm doesn’t end there: Inflation also is making stock markets appear stronger than they really are and cutting into returns for everyone, including those with retirement accounts.
We seldom hear about that last point. When media outlets discuss the latest inflation rate, they typically highlight the average annual percentage change in the consumer price index. The CPI tracks a basketful of goods, including housing, food, energy, insurance, and more, measuring the average price increases of these items over time.
From 2016 to 2020, the inflation rate averaged 1.9 percent, which resulted in a cumulative price increase of about 7.7 percent over four years. The Federal Reserve’s target rate—about 2 percent—typically goes unnoticed by consumers, as wages tend to rise at a similar pace.
But from 2021 to the present, the inflation rate has averaged 4.9 percent, leading to a cumulative price increase of 19.6 percent. At these elevated levels, wages struggle to keep up, making inflation more noticeable for consumers. A recent poll revealed that 63 percent of voters say they believe the U.S. economy is on the wrong track and 62 percent characterize it as weak. […]
— Read More: www.zerohedge.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
