Can America hope to climb past its mountain of $34 trillion of federal debt? With the staggering weight of unfunded liabilities in vital entitlement programs like Social Security and Medicare reaching $212 trillion, any strategy for repayment is met with formidable obstacles. Our guest contributor arrives at a sobering verdict: the magnitude of the debt renders the prospect of repayment virtually impossible.
The US can still take decisive action to rein in spending and prevent further exacerbation of its dire financial predicament.
Peter released a brief video addressing the looming resurgence of inflation.
Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.
It’s already looking like it could be a dramatic year for the US dollar, and a good time to check in on a few of the major troubled currencies around the world: the Turkish Lira, Argentine Peso, and Russian Ruble.
JD and Joel discuss this week: why gold is down, Peter Schiff’s best takes on Biden’s Super Bowl shrinkflation ad, and thoughts about “the best time” to sell gold.
During this week’s Super Bowl ads, Biden slammed greedy corporations for inflation. In his most recent podcast, Peter explains exactly what’s happening with inflation, and why Biden’s blame game has it backward.
The silver price has dipped since December, from almost $26 per ounce to around $22 today. We reported on silver being a relative bargain at the time, and with lower spot prices and an even higher gold/silver ratio today, gold’s monetary sibling is looking like an even more attractive buy than it was late last year.
When members of Congress aren’t passing laws, holding committee meetings, or more cynically fundraising endless dollars, some of them choose to pass the time by trading stocks. And for whatever reason, keen insight or perhaps insider trading, members of Congress tend to beat the market.
When clients ask about the timing of selling their gold, I generally respond to their question with a question: “Do you have upcoming liquidity needs?” or “Is there a productive investment opportunity to deploy your capital?”
Federal Budget
The Federal Government publishes the spending and revenue numbers every month. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going, and the surplus or deficit.
This month saw a $22B deficit.
The Bible features more than 700 references to gold and silver, emphasizing their timeless significance. The term ‘gold’ alone appears in 47 of the 66 books of the Bible.
Beyond their current cultural relevance, these precious metals play a crucial role in scripture, highlighting three key attributes: their divine origin, intrinsic value, and monetary quality.
