In my 1987 book The Financial Armadillo Strategy, I focused on my long-term fear of (1) inflation, (2) printing money to balance the books, and (3) the highly leveraged position of the US Banking system.
I offered a multi-layered platform for investing during the expected financial blow-off I feared was emerging. Featured planks in my portfolio platform were U.S. government securities, gold and silver (thanks Ron Paul, Dan Rosenthal, Jim Blanchard, the Messrs. Harry Browne & Schultz, and Dr. Franz Pick) Vanguard’s low-cost, no-load funds, Benham Capital Management Company, and the Swiss banking system.
Now, in 2020, I am writing more about gold and silver and the Swiss Way than ever. Here we are in August 2020, and 100% of my personal investing centers, for the month, on Switzerland. Back in March and April, I loaded up on large positions in gold and Swiss francs – the most I have ever purchased over a similar period.
“Ending the Fed need not be in one bold stroke. We could transition towards the goal. There are many small steps we could take toward sound money. The power of the Fed to increase the money supply could be curtailed. The Fed could be restricted in its open market operations. We could, by legislation, deny authority to the Fed to monetize any debt. We could prohibit the Fed from participating in central economic planning.”
Dr. Paul warned, “The future looks bleak. The power elites are hunkering down, and there is no sign in Washington that anyone cares, listens, or understands the issue of money and the power of the Fed. There’s a rumbling in the heartland and anger is building.”
Ron Paul concluded back in 2009: “Freedom and central banking are incompatible.”
To help conservative investors organize themselves around the principles outlined in The Financial Armadillo Strategy, in 1987 I founded investment counseling firm Richard C. Young & Co.
Twenty-five years ago, our son Matt took on the day-to-day management responsibilities. Our daughter Becky joined the company back in the mid-nineties. Becky is today our Chief Financial Officer. Our son-in-law E.J. Smith (Your Survival Guy) is managing director and head of client contact.
Every client of our family investment counsel firm has daily access to family members. And every client has access to me every business day of the year. I respond to all client inquiries through either Matt or E.J.
In 2019 CNBC ranked our team in the top 10 of all U.S. financial advisory firms.
Looking ahead, a series of balanced debates is necessary between President Trump and Joe Biden. Were I the debates organizer, the first question I would ask Joe Biden is to explain the function of Fed open market operations and America’s need for a sound money policy.
Warm regards,
Dick
