On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past two weeks the number of laid off American workers seeking unemployment benefits has reached 10 million. If the numbers continue to grow, the government and Federal Reserve is likely to announce another round of stimulus measures.
All the money printing is likely to erode the value of the US dollar. In such a case, the investors will search for assets that can protect their buying power and add value to their portfolio. Author of ‘Rich Dad, Poor Dad’ Robert Kiyosaki said that people should “save gold — god’s money or Bitcoin — people’s money.”