by Steve St. Angelo
At some point, Americans are going to have to wake up. With the Fed funds rate set at 0.25, Americans can no longer earn any interest with their money in the bank. I just checked the average interest rates paid on a five-year CD is a whopping 0.36% while a Money Market Account pays a hefty 0.11%. Talk about what a losing game that is when the real inflation is running at 7-13% per year.
So, if money, or let’s correctly use the term “currency,” is a losing proposition, then why aren’t more Americans acquiring precious metals? Well, actually a few are, but in paper form. There has been a record movement of funds into the Gold and Silver ETFs over the past several months. However, that really isn’t a safe investment as it’s hard to know if the custodians of the ETFs hold all the metal they say, or if it is over-subscribed.