Beat The Coming ‘Taxflation’ Tsunami With Precious Metals

The final weeks of the tumultuous year that has been 2020 present opportunities for investors to get their financial houses in order ahead of the New Year.

Nobody knows what 2021 will bring. But new political risks are likely to emerge – including the threats of higher taxes and a more punitive IRS.

With control of the U.S. Senate still up for grabs pending runoff elections in Georgia next month, and the final outcome of the presidential race still in dispute, an environment of uncertainty will reign for the remainder of the year.

President Donald Trump continues to pursue a longshot campaign to rescind fraudulent election results in multiple states through the courts or state legislatures.

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The U.S. Supreme Court may ultimately determine the fate of Trump’s legal challenges.

We’ll leave the Constitutional questions to the legal experts.

Regardless of which side you’re on, though, you should be prepared for the possibility that Joe Biden and Kamala Harris do indeed take power and deliver on their promises to increase spending and raise taxes on millions of Americans.

Biden intends to make former Federal Reserve chair Janet Yellen his Treasury Secretary. Yellen would presumably work closely with former colleague and current Fed chair Jerome Powell to carry out the government’s and the central bank’s priorities in tandem.

It isn’t difficult to imagine an unprecedented level of coordination between fiscal and monetary policy. That may well be the point of her nomination.

The presumptive Biden administration will have twin objectives of raising tax revenues and raising inflation rates to help eat away at the real value of soaring government debt. Yellen is well suited to these “taxflation” objectives.

Janet Yellen opposed President Trump’s 2017 tax cuts and supports a “carbon tax.” She will undoubtedly be on board with the Biden/Harris agenda of eliminating the Trump tax cuts on “day one.”

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