Society has a trust issue.
It’s why people stick with their tribe of choice on social media.
It’s why politics has become an “us or them” team sport over these past two decades or so.
And it’s why a growing number of people seem to treat scientific fact more like a suggestion.
Increasingly, it’s why gold is seeing a surge in popularity while everything else collapses around it.
According to a report released by Wells Fargo earlier this week, gold’s ongoing bull run signals “a growing lack of trust in the world’s monetary system.”
It’s a stark warning that signals a shift in collective thinking. It also shows that recent moves in the space aren’t the flash in the pan some think it is.
A Shift That’s Here to Stay
The quoted report was written by John LaForge, the bank’s head of real asset strategy. He named that lack of trust as the fourth overall reason why gold has rallied. Low long-term interest rates, excessive money printing across the globe, and a weakening dollar were the other three. The longer the other three trends continue, the stronger the lack of trust in the world’s monetary system will become. It presents an immediate problem for governments trying to correct economies that have been beaten down by the pandemic, but more and more people are seeing it as a problem that may be beyond fixing.
And it increasingly seems like the collapse of the monetary system as we know it is something that’s bound to happen no matter what.
What do you see when you turn on the news?
A divided government that can’t do something as simple as agree on an aid package for people who are suffering economic hardship through no fault of their own. Instead of coming together to pass some sort of relief package, the two sides went back to their corners to prepare for the November election.
And even during their respective conventions, finger-pointing and soundbite-friendly lines took priority over clear plans of action for the leadership this country needs.
The policymakers can’t really be trusted to help the people who put them there. They can only be trusted to dig in their heels and trade blows with their rivals.
They can only be trusted to show the American people why this crippling level of dysfunction is here to stay, no matter who wins in November.
This combined monetary crisis and lack of real leadership trend will continue. As it does, more people will wake up to the fact that gold will be one of the few things that will survive whatever the fallout might be.
It won’t be an overnight process, but it will be one that draws more attention as it progresses.
And if the Wells Fargo quote above is to be believed, it’s already started.
Staying Ahead of Everyone Else
The more tone-deaf leadership around the world grows, the more people will lose trust in what they stand for.
The more those leaders show how narrow their vision actually is, the more people will begin taking their wellbeing into their own hands.
The dollar is collapsing and society looks like it’s coming apart at the seams. Because of that, people are turning to gold in larger numbers to keep their finances from going down with everything else.
It’s a story that’s largely ignored because acknowledging it would be acknowledging that maybe everything won’t be all right.
But ignoring the story and trusting that everything will simply work out is the last thing anyone should be doing right now.
Instead, it pays to learn as much about the growing gold bull market as you can.
Things are going to get worse before they get better. Making sure you have some gold on hand is one way to stay ahead no matter what happens.
Make sure you’re able to get in before this story simply can’t be ignored anymore.
