Andy Schectman, CEO of Miles Franklin Precious Metals, recently appeared on Liberty and Finance to discuss the precious metals market and the broader economic landscape in the wake of the 2024 U.S. Presidential Election during Schectman’s interview.
While acknowledging the initial market positivity surrounding the election results, Schectman warns against complacency. He argues that the underlying issues of national debt, inflation, and economic uncertainty remain unaddressed.
Focus on Fundamentals, Not Market Noise
Schectman emphasizes the importance of long-term fundamentals over short-term market reactions. He criticizes the "reactionary environment" of financial markets that prioritize news cycles over long-term trends.
He contrasts the long-term economic planning of China with the short-sightedness he sees in the U.S. This short-termism, he argues, contributes to the current economic problems.
Schectman acknowledges the potential difficulties of addressing the national debt and fiscal issues. He suggests that resolving these issues will require sacrifice and a period of economic hardship.
Gold and Silver as Safe Havens
Despite the economic challenges, Schectman remains bullish on gold and silver. He views them as safe-haven assets that can protect investors during periods of economic instability.
Schectman specifically recommends investing in physical gold and silver eagles, pre-65 silver coins, and "junk silver" as a way to hedge against inflation and economic uncertainty.
He highlights the importance of diversifying one's portfolio to include physical precious metals alongside traditional assets.
The Central Banks' Message: Owning Gold and Silver
Schectman points to the actions of central banks, who are major buyers of gold, as a strong signal for the importance of precious metals in the global financial system.
Recent events, like the collapse of the First National Bank of Lindsay Oklahoma, illustrate the potential risks associated with traditional financial institutions. This, according to Schectman, should prompt investors to reconsider the safety of traditional assets.
Schectman predicts that mainstream investors will eventually recognize the limitations of traditional assets and seek out alternative investments like gold and silver.
While acknowledging the positive aspects of the election results, Schectman urges viewers to remain cautious about the long-term economic outlook. He reiterates his belief that gold and silver offer a way to protect wealth during these uncertain times.
Watch the full interview:
Augusta Precious Metals(Full Review) $0 (10 Years) $50,000 "Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings Goldco (Full Review) Vary $25,000 Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee American Hartford Gold (Full Review) Vary $10,000 American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..Expand Details
Renowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.Expand Details
From precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ yearsExpand Details
With over $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and a historical perspective, ensuring informed decisions. Trusted by public figures and praised for exceptional customer service, the company offers competitive pricing on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee