Andy Schectman Discusses Kamala Harris' Tax Policy and Its Potential Impact on the Market

Andy Schectman on the Podcast

Andy Schectman of Miles Franklin Precious Metals was recently a guest on a podcast. The discussion revolved around the upcoming election, the state of gold and silver markets, and the potential impact of recent left-wing policy proposals, including price controls and taxing unrealized gains, on the economy and markets. Concerns were raised about the negative effects of taxing unrealized gains, such as market destabilization and capital flight, which could harm economic growth.

Discussion Topics

The conversation also touched on policies like increased capital gains taxes, down payment assistance, and tax credits, arguing they could accelerate inflation and economic instability. Immigration policies and their perceived impact on the U.S. system were also discussed. The conversation also covered the role of mainstream media in shaping public opinion and supporting misleading narratives, current geopolitical issues, and insights into gold and silver markets.

Schectman's Criticism of Harris Administration's Policies

Schectman expressed strong opposition to several economic policies proposed by the Harris administration, arguing that these policies could have disastrous effects on the economy. He criticized taxing unrealized gains, arguing that it would force those with significant investments to liquidate their holdings, potentially causing market crashes. Schectman also scrutinized the proposal to increase capital gains tax for those earning over a million dollars, arguing this would lead to further market collapses.

Immigration and Media Influence

Unchecked immigration and its associated costs were also discussed, with Schectman arguing that it is putting immense pressure on the country's social systems. He criticized the approach of raising taxes rather than trimming government spending. Schectman also touched on the influence of media in shaping public opinion and perception, particularly among those he sees as being misled by controlled narratives.

Concerns About Market Stability

Schectman expressed concerns about market stability, particularly in relation to the Federal Reserve's actions and broader economic indicators. He speculated about the Federal Reserve's potential actions, suggesting that the market is expecting a more aggressive rate cut than the anticipated 25 basis points. He argued that lowering rates could spur temporary gains in the stock market but would ultimately devalue the dollar in terms of real purchasing power.

Discussion on Precious Metals

The conversation also covered precious metals, with Schectman expressing a bullish stance on gold. He noted that significant amounts of gold and silver are being drained from Western exchanges like COMEX and LBMA, indicating a strong demand driven by concerns over economic stability.

Geopolitical Issues

The discussion also delved into geopolitical issues, particularly how international relations and conflicts could affect economic stability. Schectman argued that these conflicts, combined with the current U.S. administration's policies, have damaged the United States' international standing.

Potential Consequences of Losing Reserve Currency Status

Schectman discussed the potential consequences of the U.S. losing its status as the world's reserve currency. He suggested that countries are increasingly moving away from the dollar due to its perceived instability and the U.S. government's policy decisions. He warned that this could lead to a severe decline in the U.S. standard of living and economic power.

Bottom Line

Andy Schectman's insights provide a thought-provoking perspective on the potential economic impact of the Harris administration's policies, the state of gold and silver markets, and the potential consequences of the U.S. losing its status as the world's reserve currency. What do you think about his views? Share this article with your friends and continue the conversation. Don't forget to sign up for the Daily Briefing, which is available every day at 6pm.