Recently, an emergency meeting was convened in Austin, Texas. Leaders, economists, policy experts and gold industry functionaries from around the world descended on the Central Texas metropolis, eager to discuss and hear the top experts’ opinions on the state of the global economy, the threats it faces and the role that the gold coin industry will play in helping people avoid catastrophe.
Chairing the meeting was Phillip K. Diehl, head of U.S. Money Reserve and former director of the U.S. Mint. On the docket were topics relating to the critical levels of systemic risk that the U.S. financial system is currently facing.
Diehl and others touched on things such as the implications of the looming bankruptcy of the State of Illinois, decreasing per-capita tax revenues and the coming demographic crisis that will be brought on by the retirement, en masse, of the Baby Boomer generation. Read more: US Mint Director | US Money Reserve
One of the overarching themes of the conference was the idea that nearly all of the crises currently facing the U.S. economy tend to find their natural resolution in the Fed increasing money supply. Diehl contends that this is a harbinger of hyperinflation, the likes of which have not been seen in the United States for well over 150 years.
Diehl was particularly concerned over the implications of the Baby Boomer generation’s apparent lack of sufficient savings. Diehl states that, historically, those over the age of 70 experience rapid and dramatic reductions in overall consumption, amounting to a nearly 50 percent decrease over other demographic groups. Learn more about US Money Reserve: http://www.bizjournals.com/austin/prnewswire/press_releases/Georgia/2017/06/20/DA20460?ana=prnews and https://www.usmoneyreserve.com/blog/
This, says Diehl, will almost certainly lead to sustained, lower growth and, therefore, lower demand for employment. But worse is the fact that Baby Boomers are electing to stay in the workforce well into their 70s. Doing this eliminates jobs that would have been available to younger generations, who consume far more and are, therefore, a much stronger stimulus to the economy as a whole.
Diehl says that all of this adds up to a reduced tax base, increased government liabilities and, eventually, a necessarily dramatic increase of the money supply. These are the ingredients of hyperinflation.
About U.S. Money Reserve
U.S Money Reserve was founded in 2008 by Phillip K. Diehl, former director of the United States Mint. Its mission is to bring to millions of Americans the professional hedging ability that only ownership of gold and silver coins can provide. It has served millions of satisfied customers.