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

The federal government continues to spend America into a black hole and has already topped last year’s budget deficit with two months left in the fiscal year.

The US budget deficit in July came in at $120 billion thanks to a surge in spending, according to data released by the Treasury Department.

Uncle Sam spent $371 billion in July. That was 23% more than the government spent in July 2018. The Treasury brought in $251 billion. That number was up 12% compared to July 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.”

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

The national debt has pushed beyond the $22 trillion mark.

According to Treasury Department data released Tuesday, the national debt now stands at $22.01 trillion. When President Trump took office in January 2017, the debt was at $19.95 trillion. That’s a $2.06 trillion increase in the debt in just over two years. 

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