This may have been the worst year for the banking sector since 2008.
First Republic Bank, Silicon Valley Bank, and Signature Bank all collapsed, and while they were merely regional American banks, they were still prominent enough to warrant an emergency response by the Federal Reserve. Outside the United States, the Swiss government had to broker the acquisition of Credit Suisse by UBS in response to the former’s collapse.
Even with these government interventions, however, twenty of the world’s largest banks collectively cut nearly 62,000 jobs in 2023, according to the Financial Times. This was done to keep up profits in the face of elevated interest rates and much higher caution by banks following the mini-crisis. Although that number is not as bad as the 140,000 job losses during the Global Financial Crisis, that’s hardly comforting.
Being “not as bad” as the worst financial disaster since the Great Depression doesn’t mean much. It’s like saying what’s going down in Israel and Ukraine isn’t so bad because World War II was worse. Especially when you consider that the number of job losses may be substantially higher than that because the Financial Time’s figure doesn’t include job cuts from smaller, regional banks.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.