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POSTED ON May 18, 2020  - POSTED IN Peter's Podcast

Despite Fed Chair Jerome Powell throwing cold water on the prospect of a quick economic recovery last week, there is still a lot of optimism out there. There is also an appalling lack of concern about all of the debt and money printing going on. In a recent podcast, Peter said nobody expects this to lead to an inflation crisis or a dollar collapse. But what can’t last forever won’t. And it won’t be a crisis — until it becomes one.

POSTED ON May 5, 2020  - POSTED IN Key Gold Headlines

Welcome to your future. Your government is spending it right now. And your children’s and grandchildren’s future to boot.

The US Treasury plans to borrow $2.99 trillion in the second quarter. The Treasury also plans to borrow another $677 billion in the July-September quarter, bringing the total fiscal 2020 debt to $4.48 trillion.

It’s a level of borrowing that’s difficult to even wrap your head around.

POSTED ON March 12, 2020  - POSTED IN Key Gold Headlines

The US is heading for economic lockdown as the impact of the coronavirus grows. To cope with the crisis, President Trump has promised fiscal stimulus. The actual plan remains unclear, but the Trump administration has floated a reduction in payroll taxes, along with bailouts and loan guarantees for struggling industries. While the details are murky, one thing is certain — it will cost billions of dollars.

Meanwhile, the US government is already living far above its means. Uncle Sam recorded another massive budget deficit of $235 billion last month, according to the latest Treasury Department report.

POSTED ON February 14, 2020  - POSTED IN Friday Gold Wrap

Jerome Powell went to Capitol Hill this week. During his testimony before a congressional committee, the Fed chair insisted, “There is nothing about this economy that is out of kilter or imbalanced.” In this episode of the Friday Gold Wrap Podcast, host Mike Maharrey takes issue with Powell’s assessment and points out some things that are, in fact, way out of kilter.” He also touches on coronavirus and the markets, consumer debt, and Donald Trump.

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