VIDEO - Paul de Sousa: Fiat Currencies Don’t Succeed; Gold Will Protect You

The US election has been and gone, leaving plenty of uncertainty in its wake.

While the presidential race has been called by the media for Joe Biden, Donald Trump has yet to concede. For many investors, the ongoing situation has made it difficult to make decisions.

That’s true not only for Americans, but also Canadians — Canada is linked closely to the US, meaning that turmoil to the south can have consequences for the country.

“When the US is slowing, Canada will slow. And when the US is growing, then Canada will grow. That’s generally how (the stock markets) interacted in the past,” Paul de Sousa, senior vice president and investment advisor at Sightline Wealth Management, told the Investing News Network.

Assuming that Biden does ultimately become president, de Sousa said Canadians will have a lot of work to do, as the Democrat will likely take a more active approach to the COVID-19 pandemic than Trump.

“(Biden will) be taking a much more serious approach towards COVID-19 than Donald Trump has,” he said. “And so what that means is volatility, uncertainty, higher taxes again, personal and corporate — even in Canada, we’ll all have to pay for this.”

While that might sound dire, de Sousa emphasized that Canadians do have options. He encouraged investors to get serious about their finances and go beyond the typical 60/40 portfolio division for equities and fixed income, saying that this is a way to potentially find better yields.

He also mentioned gold as an alternative asset to consider, emphasizing its protective qualities.

“Look, the world’s not had a successful fiat currency. Right now, I think the two longest-standing currencies are the US dollar and the British pound,” he said. “But if you look at their purchasing power, they’re abysmal failures in terms of what a dollar would purchase at any point in time in the past and what that same dollar purchases today … gold is that protection.”

Watch the video above for more from de Sousa on what Canadian investors may want to do post-election and why gold is an investment option to consider.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.