For years people have warned that Gold and Silver would go up when the economy would collapse. This collapse is now happening. As one of the preachers of the need for precious metals as part of your investment portfolio, I just hope you are positioned at the moment. Then you are making money.
At the same time are all major currencies losing value? As the global reserve currency is the Dollar doing reasonable well.
There are many indicators of what is going wrong. Ever since the last economic setback is we living in a world of unlimited money printing.
We are marching towards a perfect storm. The current macroeconomic and geopolitical situation is unsustainable. China is taking over the global dominance. At the same time is the United States losing this status. As well as the benefit of having the world reserve currency.
If we look at what is happening then we need to notice that all currencies are losing purchasing power. they are all heading to collapse. When that happens precious metals are moving up even higher.
While everyone is looking at Gold, people should pay attention to Silver. As this is moving up even more. Not to mention that it is cheaper to buy, so your worthless money brings you more of it.
If we look at what happens right now than we need to pay special attention to entry-level jobs. These are the jobs that everyone can get. The jobs that are the last resort of employment.
Like delivering food in a restaurant, cleaning hotel rooms. When we look at this we can simply look at what happens in Las Vegas. MGM is the owner if most of the strip. I don’t refer to the hotels, I refer to the ground. Nice revenue model. But MGM is also suffering. The revenue is down. The same is happening with Hilton. Let me tell you a little secret: the Las Vegas Hilton operations are 5%^of the turnover. But 25% of the profits.
So with this happening, we should brace for terrible reporting. Many layoffs are here to come.