Donald Trump Warns of Stock Market Crash and Great Depression if He Doesn’t Win Presidential Election

Trump's Market Crash and Depression Warnings

Former U.S. President Donald Trump has raised concerns about the state of the U.S. economy if he fails to secure the presidential election this year. Taking to his social media platform Truth Social, Trump expressed his belief that the economy is in a terrible state and that inflation has significantly eroded the purchasing power of consumers over the past three years.

In a recent post, Trump stated, "The only thing that is keeping the economy 'alive' is the fumes of what we accomplished during the Trump administration." He further emphasized that the stock market's high performance is primarily due to the confidence and expectations that he will win the 2024 presidential election.

Without his victory, Trump warned of a potential stock market crash worse than the one experienced in 1929, which led to the Great Depression.

Inflation Concerns and Alternative Data

While official data from the Bureau of Labor Statistics (BLS) suggests a 17% increase in prices since President Joe Biden took office, alternative measurements using the methodology from the 1980s estimate inflation to be over 30%. These figures highlight the significant impact inflation has had on the economy.

Obstacles on Trump's Path to the 2024 Republican Nomination

Trump's aspirations for the 2024 Republican nomination face challenges due to ongoing legal battles. He currently faces restrictions, barring him from the primary ballot in Colorado and Maine. The Supreme Court is expected to make a ruling on whether states have the authority to prevent individuals from running for president.

Trump's Previous Economic Warnings

This is not the first time Trump has issued warnings of economic turmoil if he were to lose the 2024 presidential election. In July, he predicted an economic depression, while in April, he expressed concerns about a declining U.S. dollar and the potential for World War III. Additionally, Trump believes that the U.S. is losing the currency war against China, as the Chinese government seeks to challenge the dominance of the USD.

Bitcoin's Potential Soar and Trump's NFT Ventures

Interestingly, some predict that a Trump presidential victory would lead to a surge in the value of bitcoin. Asset manager Vaneck, for instance, anticipates a new all-time high for BTC if Trump wins the election. Furthermore, John Reed Stark, a former internet enforcement chief at the U.S. Securities and Exchange Commission (SEC), suggested that Trump might significantly change his anti-crypto stance. It is worth noting that Trump recently launched his third non-fungible token (NFT) collection and reportedly sold millions of dollars' worth of ether (ETH) received from NFT sales.

What Are Your Thoughts?

What do you think about former U.S. President Donald Trump's warnings regarding the economy? Share your thoughts and opinions in the comments section below.

Frequently Asked Questions

Are precious metals allowed in an IRA?

This depends on the IRA's owner's desire to diversify or keep his holdings in silver and gold.

He can choose to diversify if he so desires. He could purchase physical bars of gold or silver from a dealer and then sell these items to him at the end. But, what if he doesn't want to sell his precious metal investments? He should keep them, as they are perfectly safe to be stored in an IRA account.

Can you make money in a gold IRA

To make money from an investment you must first understand how it works and secondly what products are available.

If you don't know, you shouldn't start trading until you are sure you have enough information to trade successfully.

You should also find a broker who offers the best service for your account type.

You can choose from a variety of accounts, including Roth IRAs or standard IRAs.

A rollover is also an option for those who already own stocks and bonds.

Which precious metal is best to invest in?

Gold is an investment that offers high returns on its capital. It also protects against inflation and other risks. As people worry about inflation, the price of gold tends increase.

It is a smart idea to buy gold futures. These contracts ensure that you receive a set amount of gold at a fixed rate.

However, futures on gold aren't for everyone. Some prefer to have physical gold.

They can also trade their gold easily with others. They can also easily sell it whenever they like.

Many people prefer not to pay taxes on their gold. They buy gold directly from government to do this.

You will need to visit several post offices to complete this process. First, convert any gold you have into coins or bars.

Then, you need to get a stamp on those coins or bars. Finally, you send them to the US Mint. They melt the bars and coins into new coins.

These new bars and coins have the original stamps stamped on them. This means they can be used as legal tender.

But if you buy gold directly from the US Mint, you won't have to pay taxes.

So, which precious metal would you like to invest in?

How to Open a Precious Metal IRA

It is best to open an IRA with precious metals through a Roth Individual Retirement Account.

This type of account is superior to other types of IRAs in that you don't pay any taxes on the interest earned from your investments, until you withdraw them.

It is attractive for people who want to save money, but need a tax break.

You don't have to invest in silver or gold. You can put your money in almost any item that meets the IRS guidelines.

Many people think only of silver and gold when they hear the word “precious metallic” but there are other types.

Examples include platinum, palladium and rhodium.

You can invest in precious and base metals in many different ways. You can buy bullion coins or bars, or shares in mining businesses.

Bullion Coins and Bars

Buying bullion coins and bars is one of the easiest ways to invest in precious metals. Bullion is a general term that refers to physical ounces of gold and silver.

You get actual bullion bars and coins when you purchase bullion coins.

While you might not see any change in your pocket after you purchase bullion coins and bars at a store, you will notice some benefits over time.

For example, you'll get a piece of history in a tangible form. Each coin and bar has its own unique story behind it.

You'll often find that the face value of a coin is far lower than its nominal value. In 1986, the American Eagle Silver Coin was $1.00 per ounce. Today, however, the American eagle's price is closer to $40.00 per an ounce.

Many investors prefer bullion coins and bullion bar to futures contracts because of the dramatic increase in bullion's value.

Mining Companies

A great way to get precious metals is by investing in shares in mining companies. You are investing in the ability of mining companies to produce gold or silver.

You will then receive dividends, which are calculated based upon the company's profit. These dividends will then be paid out to shareholders.

In addition, you will benefit from the growth potential of the company. The company's share prices should also increase as demand increases for the product.

Because these stocks fluctuate in price, it's important to diversify your portfolio. This is how you spread your risk across different companies.

It is important to keep in mind that mining companies can lose their financial investments just as stock markets investors.

Your share of ownership may be worthless if gold prices fall significantly.

The bottom line

Precious metals like gold and silver can provide safety during economic uncertainty.

But, silver and gold can be subject to price swings. A precious metals IRA account is a good option for long-term investment.

This way, you can take advantage of tax advantages while benefiting from owning physical assets.

Can a gold IRA earn any interest?

It depends on how much money you put into it if you have $100,000, then yes. You can't if you have less than $100,000

The amount you invest in an IRA affects its ability to earn interest.

If your annual retirement savings contributions exceed $100,000, you might want to open a brokerage account.

While you may earn more interest there than elsewhere, you are also exposed to more risky investments. If the stock market crashes you don't wish to lose your entire investment.

However, if you only put in $100,000 per annum, you'll probably be better off with an IRA. At least until the market starts growing again.

Can I store my gold IRA at home?

Investing in an online brokerage account is the best way to keep your money safe. You have all the investment options you'd get if you had a traditional broker. However, you don't require any licenses or qualifications. Plus, there are no fees for investing.

A lot of online brokers offer tools for managing your portfolio. They will even let you download charts to see how your investments perform.

Statistics

Silver must be 99.9% pure • (forbes.com)
To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)

External Links

How To

How to Buy Gold for Your Gold IRA

Precious metal is a term used to describe gold, silver, platinum, palladium, rhodium, iridium, osmium, ruthenium, rhenium, and others. It can be any element naturally occurring between atomic numbers 7 and 110 (excluding the helium). This is valuable due to its beauty and rarity. The most common precious metals are gold and silver. Precious Metals are often used for money, jewelry and industrial goods.

Supply and demand affect the gold price daily. The demand for precious materials has increased dramatically over the last decade as investors seek to find safe havens in volatile economies. The increased demand has led to a significant rise in prices. Some people are concerned about investing in precious metals due to the rising cost of production.

Gold is a reliable investment due to its rarity and durability. Like many investments, gold doesn't lose value. Gold can be bought and sold without tax. There are two methods to invest gold. There are two ways to invest in gold: buy gold bars and coins; or, you can invest directly in gold futures.

In-dispute liquidity can be achieved with physical gold bars or coins. They're easy to trade and store. But they don't offer much protection against inflation. For protection against rising prices, gold bullion is a good option. Bullion can be defined as physical gold. It comes in different sizes. One-ounce pieces are available for billions, while larger quantities such as kilobars and tens of thousands can be purchased. Bullion is usually stored in vaults protected from theft and fire.

You might prefer to own shares of gold than actual gold. If so, then you should look into buying futures gold. Futures let you speculate about how gold's price might change. You can purchase gold futures to get exposure to the gold price, but not the actual commodity.

For example, if I wanted to speculate on whether the price of gold would go up or down, I could purchase a gold contract. My position after the contract expires will be either “long” (or “short”) A long contract means that I believe the price of gold will go higher, so I'm willing to give someone else money now in exchange for a promise that I'll get more money later when the contract ends. A short contract, on the other hand, means I believe the price of gold is going to drop. So, I'm willing to take the money now in exchange for the promise that I'll make less money later.

When the contract expires, I'll receive the amount of gold specified in the contract plus interest. I am now exposed to the price of gold, without actually holding it.

Precious metals are great investments because they're extremely hard to counterfeit. Precious metals are more difficult to counterfeit than paper currency. Precious metals have held their value over the years because of this.

—————————————————————————————————————————————————————————————-

By: Kevin Helms
Title: Donald Trump Warns of Stock Market Crash and Great Depression if He Doesn't Win Presidential Election
Sourced From: news.bitcoin.com/donald-trump-warns-of-stock-market-crash-and-great-depression-if-he-doesnt-win-presidential-election/
Published Date: Tue, 02 Jan 2024 01:00:22 +0000