Month: March 2020

On February 23, 1945, a photograph was taken of six U.S. Marines raising the American flag on the highest point of Iwo Jima. You’ve likely seen the photo, but have you really seen the men in the picture? Do you know their identities? Their stories? Until recently, most of the world didn’t. Join us as we honor the 75th anniversary of Iwo Jima and shine a spotlight on the little-known story behind this iconic wartime photograph.

The End of World War II

During the final year of WWII, America found itself fighting on two fronts. While Allied forces were slowly moving across Europe, there was also a struggle to gain the upper hand in the Pacific. Invading mainland Japan was too risky without air support. With Iwo Jima, a Japanese stronghold less than 700 miles away from Tokyo, the island was a strategic location to capture.

Heavily fortified with artillery posts, reinforced bunkers, and a network of an estimated 11 miles of tunnels, the island of Iwo Jima was well-positioned for a fight. The battle for Iwo Jima became one of the longest and bloodiest of the war. For five weeks, American ground troops inched their way to victory. This hard-fought battle helped U.S. forces to seize control of the airspace over the Pacific. To celebrate, six U.S. Marines raised the Stars and Stripes on the highest peak of Iwo Jima, and the photographer Joseph Rosenthal was there to capture the moment.

Raising the Flag on Iwo Jima Symbolism

When Rosenthal sent the photo of the Iwo Jima flag raisers back to the U.S., it became an immediate sensation. From covers of magazines to the front page of every newspaper, the photo spread far and wide to rally support for the war. This inspirational photo was so powerful that it is credited for raising $24 billion in war bonds.

The “Raising the Flag on Iwo Jima” photograph is the most recognizable image from WWII and is widely considered one of the most influential photos ever taken. It is the only photograph ever to win a Pulitzer Prize the same year it was published. In 1954, the six men were immortalized in a statue, the Marine Corps War Memorial, which was built to honor all Marines who have served our country since 1775.

Who Raised the Flag at Iwo Jima?

As well-known as this photograph is, the identities of these six men have been shrouded in controversy. Identities were muddled because there were actually two flag raisings. The first flag placed on the peak was too small for the troops to see from down below, and the second, larger flag—the one in Rosenthal’s Iwo Jima photo—was raised about an hour later.

Thanks to amateur historians and the cross-analysis of photos and videos taken in Iwo Jima, we now know the following men to be the true six soldiers in this historical photo: Cpl. Harlon Block, Pfc. Ira Hayes, Pfc. Harold Keller, Pfc. Harold Schultz, Pfc. Franklin Sousley, and Sgt. Michael Strank.

But it wasn’t until recently that all six men were correctly identified. An accurate list of flag raisers took decades to compile accurately.

In response to early claims that flag raisers were incorrectly identified, the Marines conducted an investigation in 1946 that found that the man pictured in the far right of the photograph was Cpl. Harlon Block, not Sgt. Henry Hansen.

An additional investigation in 2016 found that Pfc. Harold Schultz was misidentified as Navy hospital corpsman John Bradley.

While John Bradley participated in the first flag raising and was photographed then, he was not photographed in the second flag raising nor pictured in the final iconic photograph.

Not realizing this misidentification, John Bradley’s son wrote a book about his father’s involvement in the Iwo Jima flag-raising called Flags of Our Fathers. In 2006, the bestselling book was turned into a movie directed by Clint Eastwood. It wasn’t until 2016 that John Bradley was found to be falsely identified in the final iconic photo.

Then in 2019, it was Pfc. Harold Keller’s turn to join the list of flag raisers. New information surfaced (mostly in the form of private photographs) that helped historians determine that Pfc. Rene Gagnon was in fact Pfc. Harold Keller. While Gagnon was present during the flag raising, he was not actually photographed.

“Everyone on the island during this historic battle contributed, whether in this photo or not,” the Marine Corps said in an official statement in June 2016.

“They are all heroes. As an institution, we have a duty to truth and accuracy. Accuracy is crucial in this case. This is an example of the important role historians, media, and eyewitness accounts play in telling the stories of heroic actions our service members play in defense of our nation.”

The year 2020 marks the 75th anniversary of the Battle of Iwo Jima and the photo that helped change the tides of war in the Pacific. Whether or not these brave soldiers were in the Iwo Jima photo, we believe all those who fought on that island are heroes. We honor and thank them for their service.

Learn more about WWII and Iwo Jima in two upcoming documentaries co-sponsored by U.S. Money Reserve: 1st to Fight: Pacific War Marines (airing Memorial Day) and Return to Iwo Jima (airing Veterans Day). Stay tuned, as we’ll post more behind-the-scenes information about these two films on our blog.

The post Raising the Flag on Iwo Jima: Do You Know the Real Story? appeared first on U.S. Money Reserve.

The CRISIS is here. The one experts predicted would crash the stock market and cripple the economy.

But it’s WORSE than anyone could’ve imagined. It’s a deadly pandemic. It’s spreading rapidly, claiming lives and shuttering economics: schools, businesses, international airways—All Closed.

Investors are SCARED. More than they’ve ever been. They knew the bull couldn’t run forever, but this isn’t how they expected things to end. They didn’t prepare for this. They want out. Of everything. NOW.

Gold dipped, but not nearly as much as stocks and bonds. Only one stands to gain from the market crash and economic downturn: gold. And YOU.

Continue reading to learn why you’re in the midst of the gold buying opportunity of the century.

History on Repeat: Gold’s Monumental 2008 Rebound

“When you can’t sell what you want, you sell what you can.”

This isn’t the first time investors unloaded their entire portfolios in a panic. When the stock market flatlined in 2008, investors sold profitable assets, including gold, to free up liquidity.

Equities continued to suffer through the Great Recession, but gold rebounded to its all-time high of $1,900 an ounce.

On Thursday, March 12, the S&P 500 closed down 9.5% and the Dow Jones 10%, the indices’ biggest daily drop since the 1987 stock market crash. Market analysts foresee more losses ahead.¹

How high could gold prices rebound this time?

Gold’s Record Rise

What’s Different in 2020? New Threat, More Debt, Fewer Resources

“This is a very, very untested moment in our history. It’s not like the great financial crisis, it’s not like the dot-com bubble. It’s like both at the same time. It’s the severity and the depth of the great financial crisis and the long period of the dot-com bubble.” — Chamath Palihapitiya, founder and CEO of investment firm Social Capital.

What’s different this time compared to 2008? We’re in a crisis. It’s bigger than the financial market. Supply chains are broken. Workers are home. The economic engine is broken.

And the Fed can’t fix it. Not this time.

Back in 2007 before the stock market peaked and the economy paled, interest rates were 4.75%.² The national debt was $9 trillion.³ The central bank had a lot more resources with which to revive the economy.

Today, interest rates are a mere 1.25%. The national debt is an astounding $23 TRILLION. Such conditions could make a rescue like the Fed performed in 2008 much more difficult, a situation the current Fed Chairman, Jerome Powell, recently came close to acknowledging.

We’re seeing it already. The Fed’s announcement on Thursday to offer banks at least $1.5 trillion in loans with which to aid financial markets quelled investor fears for just a few hours. Frenzied selling returned by midafternoon.⁴

Gold Could Be the ‘Only Safe Haven Left Standing’

‘Investors are so fearful, they’d rather hold onto cash. As the saying goes, ‘Cash is King’—that is unless interest rates fall below zero in the coming months, which at this juncture, I wouldn’t take off the table here in the U.S.’ — Adam Koos, president of Libertas Wealth Management Group

Investors are panicked because, already, this crisis is nothing like the last one. A drop in real estate prices upended Wall Street in 2008. Now, a virus—deadly and unpredictable—is effectively paralyzing the global economy.

It couldn’t have hit at a worse time. The debt crisis is bigger than in 2008. Interest rates are historically low. Central banks’ resources are limited.

But throwing the baby out with the bathwater, while necessary for some, is short-sighted because soon gold will be your best defense against a severe, protracted recession and negative interest rates.

When inflation skyrockets, which could very well happen if the pandemic keeps workers home and central banks flood markets with money, gold will offer the only true wealth preservation.

Central banks will continue their record gold buying spree. Investors will hoard the precious metal, no matter the premium.

What does all this mean for you? Bargain gold prices are here today—and likely gone tomorrow. The time is now to secure your wealth before prices possibly surpass 2011’s high of $1,900.

‘Gold is going to be the only safe haven left standing.’ — Peter Schiff, CEO of Euro Pacific Capital⁵

Chaos breeds opportunity. The greatest one of the century in the gold market is upon us.

Will you seize it?

SBC Advisors Are Standing By To Take Your Call

We understand you may be worried about your financial future right now. You’re not alone. These are frightening times, and many of our clients are calling us for advice.

We want you to know we’re here for you. Our advisors saw clients through the last financial crisis and can help again this time around.

Feel free to reach out to us with your questions and concerns. We’re standing by.

Call us toll-free at: 1-888-812-9892

Everyone at Scottsdale Bullion & Coin would like to offer our condolences to any of you who have lost a loved one to the coronavirus. We wish all of you good health and safety during this crisis.