Andy Schectman, president and chief executive officer of Miles Franklin Precious Metals, joins Small Caps to discuss various topics on the macro economy.
Mr Schectman shares his thoughts on the debt ceiling in the United States, how Central Bank Digital Currencies (CBDCs) could lead to the end of banks, how gold preserves your wealth, the rise of BRICS and rumours of Australia joining, how the US could lose the world’s reserve currency status, and more…
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Andy Schectman is the president and founder of Miles Franklin, a well-known precious metals dealer with over 30 years of experience handling gold and silver. With his vast knowledge and expertise in the industry, Schectman has predicted that the United States is headed for a recession and has strongly suggested that gold should be considered as wealth, not just an investment.
In an interview with Kitco News, Schectman stated that the current economic environment is deteriorating, creating a strong possibility of a recession looming in the near future. He pointed out that the Federal Reserve has been pumping more than $100 billion a day into the repo market, which signifies underlying problems within the financial system. He also explained that the trade war with China has created uncertainty and ambiguity and that the recent yield curve inversion reinforces the possibility of an upcoming recession.
According to Schectman, the individuals who understand this economic outlook are turning to gold as a safe and reliable store of wealth to protect themselves from the potential financial turmoil. He notes that, unlike stocks and bonds, gold is not reliant on the economy; it is a finite, tangible asset. Essentially, gold is not an investment, but rather a form of wealth preservation – it has intrinsic value and can be utilized directly if necessary.
Schectman urges individuals to view gold as both a form of wealth preservation and a way to diversify their investment portfolio. He explains that the historical patterns of the US economy are cyclical, with recessions occurring periodically. Gold, on the other hand, has consistently maintained its value throughout history and is considered a long-term investment that can withstand market volatility.
In conclusion, Andy Schectman’s insight into the current economic situation provides valuable information for individuals searching for safe and reliable ways to protect themselves from a potential recession. His advice to view gold not as an investment but as a form of wealth preservation is thought-provoking and provides an alternate perspective than the traditional approach toward investing. Ultimately, gold has proven to be a timeless asset that should be considered as a viable option in any diversified portfolio.
Social Security in 5 years ,not 10
right , gold is insurance to preserve wealth ,not an investment. Might be only thing that saves you.
Is wealth of gold that which you have accumulated or what will be speculated with pricing?
JP Morgan has some 600 million ounces of silver or something, don't they? Maybe even more than that. It's insane.
Debt Ceiling is resolved. Both sides agreed to keep printing and spending. So we are all saved from the "Major Catastrophe" of less spending. Ceeeellllebrate Good Times….C'mon !!!!
This is such a long-term plan by the Money Masters that even I worked it out a decade ago. Andy is disingenuous when he acts surprised….
RUN PEOPLE RUN… !!!!!!!! GET YOUR MONEY OUT!
FDIC is under funded.. hehehehe
According to data released on Wednesday. The ratio of assets to insured deposits in the US banking system fell to 1.1 per cent, the lowest since 2015 and less than the minimum of 1.35 per cent required by law.
THE USA is a train wreck THE REST OF THE WORLD IS DUMPING THE "dolla" AND THE usa OF ALL LIES.. SO SHOULD YOU!
I have faith in God, Peter Schiff, Robert Kiyosaki, George Gammon, Johnny Bravo, Mario Manecco, Neil McCoy-Ward, Rick Rule, Macro Alf, Doug Casey, Prof. S. Hanke, Gerald Celente, Andy Shectman , James Rickards , ' Greg Mannarino and many others .
CBDC's and Crypto need Electricity and the Net , They can Never be Honest Money on a Scale like Silver and Gold
Satoshi Nakamoto Means your Death , Your wealth is at the Whim of Others Blockchain was Made to Keep the Wealthy
holding Wealth and The Undereducated Broke
Do you want to be the reason your grandkids get Killed by Digital Programmable Money ?
Digital Programmable Money . CBDC's like China , Everything like China for your descendants .your fault ?
Digital Money is a threat to Mankind , The End Result is we die leaving the children with their Doom and Demise.
BTC has always been literally worthless. tech nerds HATE it. the blockchain is just a huge linked list. no practical application at all, not even for money laundering
PGP codes associated with the "wallets" were the only anonymization technology in use at all. once FBI can prove a specific wallet is associated with a specific user that's a conviction
And those who cannot Teach, Administrate . Hey , They took that dudes pineal gland!
All of your assets should reside within a Pure Trust organization. You should "own" nothing! Just be the beneficiary.
Digital Money is on a public ledger , needs power and the interwebs , Gold is put on the Scale .
Put gold on your plate when you sre hungry and she how it tastes
Give more Tax Dollars to Ukraine and don't forget the 10% for the Big Guy!
Awesome interview Andrew !!
Maybe, it is not all that doom. Saudi Arabia has now problems with the oil price, financing its enormous investments. So, if price does not go up soon, they got a problem. Dubai had this problem one before, Saudi Arabia will follow if the oil price does not rise. If a recession comes, we will see more, But yes, overall, the economic decisions, made in the US, are just real bad.
Always love an Andy interview, true gentleman. MF is one of the best companies from which I have purchased. Not just 5 stars, they get all the stars 😀
I appreciate your videos, guests with all your knowledge and information being shared. Thank you
Don’t buy from this guy. His premiums are among the highest
What do you think of John Adams, In The Interest of the People?
Andy has the talent to drown me in numbers and infos. Thanks
Any "Reset" is going to be a "Revolution."
This makes no sense to me. If Australia and others go apart from the USA that weakens them and strengthens the USA. Good luck to Australia defending themselves against the Chinese military without the US military. But China is in the greatest economic instability of America stops buying from them. The entire world is going into economic collapse. As ugly as the American economy is, it’s the least ugly. The EU, Russia and China gets progressively uglier. Gold and even more so silver, is the best investment. Crypto will crash.
Australia, a country which WILL not use nuclear energy for peaceful purposes BUT chooses instead to use it military. Btw I believe the waste is up to you guys the Yanks ain’t taking it back. Vassals comes to mind together with the complete opposite Japan, another vassal
The Canadian finance minister is actively looking for ways to part money savers and their money, look up one of the latest Doug Casey’s take
Well done Andy, I have learnt alot from you, I'm a mum of three amazing kids in Oz and I pass on your wealth of knowledge down to them. They now know what real money, looks and feels like.
There are many Americans that recognize The US Government as the Terrorist Organization it is.
Sheesh he is the real deal, what a fantastic guest interview
Australia hoin brics.. what is this guy smoking?
Great interview
Andy is the very best there is and ever was
So all this record buying of central banks and the big wigs yet gold still can't make a new high………I'm not so sure about this sector anymore. Either the information out there is bullshit or the manipulation is far beyond comprehension. I wish my money was in NVIDIA.