Andy Schectman, a renowned figure in the financial services realm and the president of Miles Franklin, has been instrumental in revolutionizing the landscape of precious metal investments.
His extensive knowledge and experience in precious metals, coupled with his strategic vision, have assisted in actualizing broad mainstream adoption of bullion and metals. In this article, we delve deeper into Andy Schectman’s insights on the precious metal market, its dynamics, and its potential future.
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As asserted by Andy Schectman, there has been a significant surge in bullion demand, leading to its increasing inclusion in investor portfolios. This rise in demand, coupled with the metals market’s unique nature, is unlike anything observed in the past three decades of his industry experience.
Why Are Investors Diversifying Their Portfolio?
Experts agree that the financial market is now even more fragile than pre-2008. Will your retirement portfolio weather the imminent financial crisis? Threats are many. Pick your poison..
The financial system would be in great peril if one or more big banks fail.
“When we get to a downturn, banks won’t have the cushion to absorb the losses. Without a cushion, we will have 2008 and 2009 again.”
Student debt, which has been on a steep rise for years, could figure greatly in the next credit downturn.
“There are parallels to 2008: There are massive amounts of unaffordable loans being made to people who can’t pay them”
The US national debt has spiked $1 trillion in less than 6 months!
“If we keep throwing gas on flames with deficit spending, I worry about how severe the next [economic] downturn is going to be–and whether we have enough bullets left [to fight it],”
Total household debt rose to an all-time high of $13.67 trillion at year-end 2019.
“Any type of secured lending backed by an asset that is overvalued should be a concern… that is what happened with housing.”
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Andy elucidates the complex dynamics of the supply chain in the metals market. Six financially strong primary distributors exist in North America, each having contracts with all major sovereign mints and refineries.
However, these mints are grappling with production issues, thereby escalating risks and leading to premium hikes throughout the supply chain.
The Reddit Revolution and Banking System Revelation
The Reddit movement has infused a fresh wave of optimism in the precious metal domain, according to Andy. He believes that this movement will eventually expose the banking system’s activities, shedding light on previously hidden facets of the industry.
Differences Among Mints
There are primarily six mints in the world: the US, Canada, Austria, Australia, South Africa, and the United Kingdom. Each of these mints is inefficient to a certain extent and reports production issues. Andy emphasizes that both Canada and the US Mint have reduced dealer availability and rationing, indicating operational challenges.
Basel III Regulations and One Belt One Road Initiative
Andy discusses the upcoming Basel III reclassification of gold, which will elevate it to a Tier One asset. He also mentions the massive repatriation of gold happening globally. According to him, 70% of the world’s population is rapidly distancing from the dollar and joining China’s One Belt One Road, a colossal infrastructure project.
Silver: The Pathway to More Gold and Platinum
Andy Schectman maintains that the platinum-to-gold ratio is compelling, though it lacks the rich monetary history of silver and gold. In his view, silver is the pathway to acquiring more gold and platinum.
Trust Your Gut and Buy the Dips
Drawing from his experience, Andy advises investors to trust their instincts, buy the dips, and view metals as generational wealth. He emphasizes not to over-focus on the manipulated price, hinting at the underlying potential of precious metals.
The insights provided by Andy Schectman illuminate the complex dynamics of the precious metals market. His views on the rising demand for bullion, the role of major mints, and the future of metals like silver, gold, and platinum provide a comprehensive understanding of the industry.
As an experienced financial advisor, his advice to trust your instincts and see metals as generational wealth underscores the potential of precious metals as a lucrative investment.
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