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Americans have hit a new high in credit card debt. The surge means their overall balance shot above $1 trillion for the first time.
While credit card balances are at historic highs, the New York Federal Reserve reports people are generally still paying their bills on time, at least for now. There are currently 70 million more credit card accounts open than before the pandemic, and it’s definitely making an impact on how families choose to spend.
The larger concern is credit cards are increasingly being used to pay down household bills.
Experts say that could be the reason why credit card debt for families nationwide is unprecedented at a record-setting $1 trillion.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
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