“Brexit” is Great Britain and the European Union’s problem, right? It would certainly seem that the logistics of the United Kingdom’s historic withdraw from the European collation would really only affect those within the borders of those involved countries. But as they say, the world’s a much smaller place than it used to be. This means that an “ugly American” who has never travelled outside of the United States could still suffer severe financial fall-out from Brexit. How so?
As countries and international businesses struggle to ascertain all the effects of Brexit, finances, stock markets, and the American dollar are all responding poorly to it. It’s anticipated that American consumer spending and the U.S. economy in general could see a down-turn as a result. So what’s the solution to an overseas political decision that threatens to topple businesses and cause dollar values to plummet?
According to the U.S. Money Reserve, it’s metal, shiny, and yellow. Gold both holds and increases in value in times of economic upheaval on an international basis. Because of this, Britons are snapping up both gold and silver coins and bullion at frenzied levels to protect themselves financially. The precious metal’s value because of this is at an international two year high. And the U.S. Money Reserve says Americans may do well to follow suit. The U.S. Money Reserve is a privately owned company that issues coin series made from precious metals. And it is headed by Philip Diehl, one of the world’s leading authorities both on finances and coins.
Before returning to the private sector, Diehl headed the U.S. Mint, was the staff director of the Senate Finance committee, and was also chief of staff at the Federal government’s Treasury Department. Diehl is recommending that investors stock up on gold and silver as a form of insurance should world financial markets prove to be insolvent. In addition to the chaos of Brexit, Diehl points to the unstable Chinese economy and the possibility of another Great Recession as two reasons why it may be time to acquire gold. He doesn’t think that American and British leaders can react quickly enough to such developments to avoid financial insolvency.
However, gold’s value historically has been known to change dramatically quickly, and as Brexit exits the headlines for other news stories, its value has again taken a dip. So while other experts agree with Diehl on gold’s enduring value, they recommend not abandoning all other investments for the “gold standard” just yet.