I’m currently sitting in my hotel room in Midtown Manhattan, a city I’ve been coming to since the 1980s.
It’s interesting to see how the Big Apple has changed over time.
Undoubtedly, one of the biggest changes in this town has been prices. When I first traveled here, it was easy to shop around and score a hotel room for under $50.
By the 90s, prices had moved over $100 per night, and late in the decade, I had to work hard to keep the price of a decent room below $200. Now, even during a period of supposedly low inflation, I had trouble finding a room for under $300, and to do it, I had to move to a less desirable location.
On top of that, The Wall Street Journal reports that the Hyatt Hotels Corporation (H) just paid $1.9 million for hotel rooms in New York, close to a record price. When it opens, a night at the Park Hyatt will cost a cool $900.
Yet the government tells us we have just 2% inflation!
Frankly, I don’t need a government bureaucrat to tell me that there’s no inflation. I remember the prices I paid in the past, and I know the prices I’m paying now. Inflation is a very real, hidden tax, and the government is using it to assassinate savers and responsible citizens who hold cash for retirement or even just a rainy day.
Rollin’ on Jeffersons
The point is, you shouldn’t believe what the government is telling you. You see, prices have already moved up more than the administration admits. If you shop for groceries, you know I’m speaking the truth.
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On top of that, the consumer price index (CPI) has been gamed to lower the cost of government transfer payments to keep people in the dark about the slow destruction of our currency.
So is there any way to beat the bureaucrats at their own game?
The answer is “Yes,” but I don’t know how long the window will last.
I’ve been recommending that my readers hold commodities and precious metals against inflation for years. Gold has moved up nicely in the interim, but my focus is now on other metals that are going to follow gold… and my favorite is silver.
Imagine if you’d been smart enough to sock away silver dimes and quarters in 1964, when the government took silver out of circulation and replaced our coinage with cheap base metal imitations?
Today, those cheaper metals have moved up, and the U.S. government is struggling to figure out what to do with the old-fashioned Jefferson nickel. Millions of these nickels were produced from 1946 until today, and each contains 75% copper and 25% nickel.
Currently, the melt value of a nickel is $0.0489… but it wouldn’t take much of a change for these coins to move up in price dramatically.
Nickels are also the perfect investment for deflation.
Even if my predictions about inflation are all wrong, the nickels you collect will never be worth less than a nickel. And as an added bonus, you don’t have to pay any transaction fees to buy this investment. Just visit your local bank and ask them for some rolls.
If you’re looking for a way to weather the storm of government malfeasance, the Jefferson nickel may just be the answer.
Your eyes on the Hill,