Tag Archives: debt ceiling

If the debt ceiling deal agreement is fully implemented [it is only going to exacerbate America's financial and economic woes and accelerate the demise of the U.S.] Dollar Standard which is inherently flawed and increasingly unstable. Its demise is imminent. The only question is will it be death by fire—hyperinflation—or death by ice—deflation? Fortunes will be made and lost depending on the answer to that question. [Let me explain how the collapse of the dollar could well unfold.] Words: 944

The new [debt ceiling deal] legislation will add $2.4 trillion to the $14.3 trillion national debt in a little over a year - and we don’t even start saving money until after the debt reaches $16.7 trillion! This bill doesn’t even cut the deficit. It just slows the growth of government spending to around 8% a year! So, even if Congress cuts $2.1 trillion out of the budget over the next 10 years, we will still be running annual deficits of more than $1 trillion...[That means that in addition to a deficit that will continue to grow we can look forward to a shrinking economy, an imploding U.S. dollar and exploding inflation. Some future! Let me explain.] Words: 827

The idea that an increase in the debt ceiling is a solution to anything is nonsense. The event would be simply a can kick forward for a very short period of time. Increasing debt is not a solution to a debt problem. It actually makes the problem worse. It is an act of extending your Federal credit card borrowing line so you can use it to pay your mortgage. Words: 590

You think the problems are bad now? You wait until we don't have any more credit. You wait until the currency is collapsing. You wait until interest rates are going through the roof and inflation is going through the roof. It's not going to be a pretty picture. There will be social unrest. [See below for the link to the interview.] Words: 477

Gold may rally further from this month’s record if President Barack Obama wins lawmakers’ agreement to raise the U.S.’s debt ceiling, weakening the dollar and boosting demand for the precious metal as a store of value, according to Korea Investment & Securities Co. [Below is a chart which shows this quite clearly.] Words: 360

What are the implications for gold in each of the debt and "default" scenarios possible after August 2nd? [Let's take a look.] Words: 1111

Republicans and Democrats probably will reach a deal to pay America’s bills before the U.S. government runs out of cash at the end of July - probably - but in the meantime it has pushed the United States — and the world economy — toward a fearsome shock at a time when the world economy cannot afford any more shocks. If a U.S. default did happen, however...what would it mean for Canada? The answer is surprising. Read on. Words: 832

With the United States quickly approaching the deadline for raising the limit on its debt load, squeamish investors are thinking about how they can preserve their hard-earned money. [Let's discuss the alternatives: gold and silver, cash, currencies other than the USD and the VIX.] Words: 683

The goings-on in Washington are becoming a global embarrassment to... [all Americans]. Under the guise of working for the good of the people, both sides are engaged in barely-disguised exercises in venal politics. They should be very careful, however, as it was similar brinkmanship that brought about World War 1. Words: 384

The ceiling will be raised from its present horrendous $14.3 trillion – that’s 14.3 plus 11 zeros (00.000,000,000). That's guaranteed! [Otherwise,] the alternative would be the U.S. defaulting on its debts, losing its Triple A credit rating [and being] unable to pay the seniors their benefits, or the military [or its] creditors beyond Aug. 2. [There's more! Read on.] Words: 565