Hi, my name is Ed Moy, and I served as director of the United States Mint from 2006 to 2011. I'm also the senior IRA strategist for U.S. Money Reserve. You may have heard that Saudi Arabia is talking to China about using the Chinese yuan to pay for oil. Americans, especially those who have retirement investments, should pay close attention to this because it creates more uncertainty about the future of the U.S. dollar and the American economy.
In my opinion, there are two reasons why. First, after America, Saudi Arabia is the largest producer of oil in the world. Until now, it would only accept payment in U.S. dollars. Accepting payment in Chinese yuan, or even the currency of the country that's purchasing it, will reduce demand for the U.S. dollar, eventually weakening the dollar and its buying power.
Second, this is part of a greater global movement to prepare for, and maybe usher in, a world where America is no longer the dominant superpower. One key strategy is to become less dependent on the U.S. dollar. For example, Brazil, Russia, India, China and South Africa have formed the coalition known by the acronym BRICs, and their purpose is to set up a duplicate trade and international financial system to rival the current standard that was developed by the West, namely the United States and Europe.
They are also in the earliest stages of discussing the possibility of creating a BRICs currency. So what does this mean for the average American who just wants to save enough to retire comfortably? It means that there's an increasing possibility that the U.S. dollar won't be worth us much in the future, which means the cash savings for retirement may not go that far.
It also means that investments in American stocks and government bonds can be at greater risk in the future, as other countries' stock markets and government bonds rise in popularity. But with all these efforts to de-dollarize and de-Americanize the world, the future has gotten more complex and uncertain. Many Americans planning for a retirement against an uncertain future have diversified their retirement investments to include gold in an IRA. And that's because gold is an asset that's endured the test of time and is just as valuable today as it was in ancient times.
I have a gold IRA and mine is from U.S. Money Reserve. If you're interested in exploring this option to protect your retirement investments from the potential of an uncertain future, call 1-866-646-8465 and ask to speak to a U.S. Money Reserve IRA specialist.
