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POSTED ON June 26, 2019  - POSTED IN Key Gold Headlines

Do deficits even matter?

They used to — at least in conservative circles. And even in some progressive circles when Republicans were in control of Washington D.C. But today, the federal government is running record deficits and has pushed the national debt over $22 trillion and virtually nobody even bats an eye.

In a recent Wall Street Journal article, John Yarmuth, chair of the House Budget Committee summed up the attitude toward the spending and debt in Washington D.C. He said he rarely hears from constituents concerned about rising deficits and debt. Many voters’ attitudes, he says:“There haven’t been any cataclysmic consequences, so why worry about it?”

Why indeed?

POSTED ON June 13, 2019  - POSTED IN Key Gold Headlines

If you were thinking federal government spending might slow down a bit after the national debt crossed the $22 trillion mark – well, it didn’t.

Last month, the federal budget deficit came in at $208 billion, according to Treasury Department data. It was the largest May deficit in history.

Uncle Sam spent $440 billion last month, up 21% year-on-year. Receipts increased to $232 billion, up 7% from May 2018.

POSTED ON April 25, 2019  - POSTED IN Key Gold Headlines

Month after month, the Trump administration runs multi-billion dollar deficits. The national debt has ballooned to over $22 trillion. According to the most recent Treasury Report, the US has a net worth of negative $21.5 trillion. And this understates the problem.

As Wolf Richter of WolfStreet puts it, the US government has “debt out the wazoo.”

Is this sustainable?

POSTED ON April 12, 2019  - POSTED IN Friday Gold Wrap

Gold has been rangebound for months, gyrating up and down around the $1,300 mark. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about this “wash, rinse, repeat” cycle we’re seeing in the precious metals markets and then pivots into a discussion of some more fundamental dynamics. Mike touches on the financial condition of the US federal government, surging central bank demand for gold and the positive dynamics he’s seeing in the silver market.

POSTED ON February 18, 2019  - POSTED IN Key Gold Headlines

On Friday. Pres. Trump declared a national emergency. Based on that declaration, the president will reallocate $6.5 billion from other government programs to fund a border wall.

In his podcast on Friday, Peter Schiff said there is indeed a national emergency, but it has nothing to do with the border.

Of course, the real national emergency is not the lack of a wall, the failure to build a wall, but building up the national debt.”

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