Elon Musk has a bad feeling about the economy. And he is not the only one.

Musk’s views get a lot of attention these days. That goes with being the richest man in the world. But Musk is not the only one looking around nervously. Jamie Dimon, the chairman of America’s largest bank, JPMorgan Chase, says the financial weather has taken a turn for the worse. Much worse.

“It’s a hurricane. That hurricane is right there, down the road, and coming our way,” says Dimon, the country’s most influential banker. “You better brace yourself,” he warns.

Of course, people who count money by the billions should be expected to notice when things have gone wrong. But we hear it everywhere we go now. Want to start a conversation at work that will have everyone jumping in? Mention how much you paid to fill your gas tank. You might mention grocery prices, too. Or interest rates and their impact on consumer credit and mortgage rates. From there, the conversation might turn to the stock market.

Target, among all the other companies that have seen their share price hammered, is cutting inventory and offering new discounts in the face of shifting consumer behavior.

“We also expect inflation and higher costs to be persistent,” says the retailer’s CFO.

As the Wall Street Journal writes, Americans are deeply pessimistic about our economy.

“Some 83% of respondents described the state of the economy as poor or not so good.”

Here is a sprinkling of Musk’s remarks in interviews and in tweets:

⦁ “As the saying goes, when the government first prints money, everyone feels like a winner, but in the end no one does.”
⦁ “The obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously.”
⦁ “So, it’s like the government can’t just, you know, issue checks far in excess of revenue without there being inflation.”
⦁ “And if there are more dollars created than the increase in the goods and services across the economy, then you have inflation.”
⦁ “Various countries have tried this experiment multiple times. It’s not like, ‘Oh, I wonder what will happen if this is done?’ Have you seen Venezuela? Like the poor people of Venezuela are, you know, have been just run roughshod by their government.”
⦁ “So, you can’t just create money. The true economy is the output of goods and services.”
⦁ “I think the official numbers actually understate the true magnitude of inflation.”

So, while our money, the U.S. dollar, is going bad, more and more people know what is behind it. Talk show hosts and people who have never had a course in economics are talking about money printing like never before.

We only wish more people knew what to do about it.

The answer is to not keep buying new maps from the Yellens and Powells and others who marched us into this swamp. No price control schemes, no jiggling of interest rates, no central bank digital currencies plans are going to protect your family, your wealth, and your retirement.

The historical record demands that you protect yourself with gold (and silver). That is because all unbacked paper currencies, thousands of them throughout the centuries, eventually fail. Those that are in use today are failing before our very eyes.

As for investing in gold, it is still early at today’s prices. But suddenly one day you will wake up and it will no longer be early.

The hurricane will have arrived.

Let us provide you with a free one-on-one consultation.

The opinions, beliefs, and viewpoints expressed in this article do not necessarily reflect the opinions, beliefs, and viewpoints of Red Rock Secured LLC or the official policies of Red Rock Secured LLC. Red Rock Secured LLC is not a financial advisor, is not licensed to provide investment advice and neither provides investment nor financial advice. Red Rock is a product specialist that can help evaluate your precious metals purchase options.

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