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The Utterly Unbelievable Scale of U.S. Debt Right Now
The Utterly Unbelievable Scale of U.S. Debt Right Now
– Last week, the United States national debt ticked above US$22 trillion for the first time, an amount equivalent to $67,000 per U.S. citizen
– The U.S. federal government owes more money than any other institution in the history of human civilization and it’s just getting worse
– Below, a few factoids about just how eye-wateringly, bone-chillingly large the U.S. debt has become
– The U.S. debt is now higher than the combined market value of the Fortune 500 and just with the money it spends on interest, the U.S. could run Canada or Mexico
– Debt from one Trump term could pay for another WWII and all the gold ever mined would only pay off the debt accumulated under Obama
– All the gold in the world mined since the dawn of time adds to about 190,040 tonnes or 6.7 billion ounces. At the current per-ounce price of about $1,300, the world’s goal hoard worth over $8.5 trillion would be not enough to pay off the U.S. debt accumulated between 2009 and 2016
by Tristan Hopper in National Post
Gold bars worth a small fortune that would only cover a few hours’ worth of U.S. debt accumulation
U.S. debt is now higher than the combined market value of the Fortune 500
The Fortune 500 list includes all the recognizable titans of American business from Apple to Amazon to Exxon-Mobil to the list’s ranking 500th spot, the uniform and laundry company Cintas. Taken together, they basically constitute every major consumer, media, industrial and entertainment product in the United States. If you are the average westerner, the Fortune 500 is responsible for most of your wardrobe, your diet, your home and your leisure pursuits.
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Store Gold Bullion In Safest Ways – Learning from Tragic Venezuela Today
Store Gold Bullion In Safest Ways – Learning from Tragic Venezuela Today
– Store gold bullion in the safest ways possible and learn from Venezuela’s gold battle with the Bank of England and Trump’s White House
– What in the world is happening in Venezuela and to the people of Venezuela’s gold?
– How you store gold and invest in gold is vitally important in these uncertain times
As a sovereign nation, Venezuela should have the right to take possession of and sell their gold on the open market. As sovereign individuals, we should too.
It is a difficult issue as the recent election is in doubt and the concern is that the euros (or dollars) garnered by the sale of the people’s gold reserves may be squandered trying to prop up the Maduro government rather than looking after the humanitarian needs of the people of Venezuela.
Central banks are repatriating and taking possession of their gold and indeed buying gold today. This tragic story highlights the importance of all people owning gold in the safest ways possible.
We must all become our own central banks!
What are the ‘7 Key Gold & Silver Storage Must Haves’?
1. How to store gold bullion and the importance of owning individually segregated and allocated coins and bars
2. Can you visit, view and collect your bullion whenever you want and is liquidity and competitive pricing ensured?
3. Chain of integrity that ensures the authenticity of your store of gold bullion
4. Bailment and legal structures that best protects the investor
5. Risks inherent in ETF, electronic & digital gold (online gold platforms or bullion vaults)
6. Vital insurance considerations to know: Ensure that your bullion provider and its storage partners have adequate insurance cover
7. Can you visit, view and collect your gold bullion whenever you want and is liquidity and competitive pricing ensured?
Gold Bullion Will Protect From Politicians, Brexit and Increasing Market Volatility In 2019
Gold Bullion Will Protect From Politicians, Brexit and Increasing Market Volatility In 2019
Historically, gold has proven to be a very safe investment – could it remain so in times of a massive global debt bubble, Brexit, trade wars and an uncertain world economy?
“You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect for these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.”
The words of the witty Irish playwright and philosopher George Bernard Shaw, will resonate with investors in Ireland , the UK and internationally today given the UK government’s handling of Brexit and the rise of Trump and other radical politicians on the left and right.
Populist politicians are creating increasing political, economic and financial risks for us all. This is clearly seen in the complete mess that is Brexit – for Ireland, the UK and indeed the EU.
Shaw was a keen student of history and saw the economic problems that monarchies and governments have created over the years. Only the most foolhardy investor would claim that the coming years will be any different than our past.
Gold’s safe-haven historical status
A massive global debt bubble, Brexit, the risk of Italy leaving the EU, an increasingly fractured EU, aggressive Trump foreign and economic policies and an increasingly polarised and uncertain world cast shadows over our economies and financial markets.
There are very real risks posed by the gigantic global debt bubble – the world is nearing $250 trillion in debt and the global debt to GDP ratio has risen to 320%.
Shaw was also alluding to gold’s safe-haven status throughout history. Paper currency devaluations and indeed stock, bond and property market crashes are much more common throughout history than many people realise.
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Savings Guarantee? U.N. Warns Next Financial Crisis Imminent
Savings Guarantee? U.N. Warns Next Financial Crisis Imminent
“There remains a risk of deflationary spirals in which capital flight, currency devaluations and collapsing asset prices would stymie growth and shrink government revenues. As capital begins to flow out, there is now a real danger of entering a third phase of the financial crisis …”
UN Conference on Trade and Development’s Annual Report (UNCTAD), September 22, 2016
Image from “Extraordinary Popular Delusions and the Madness of Crowds” by Charles Mackay – Wikipedia
This hard hitting critique in the UN Conference on Trade and Development’s Annual Report, released this week, is suggesting that the ‘third leg of the world’s intractable depression is yet to come.’
“Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” said the annual report of the UN Conference on Trade and Development (UNCTAD).
But what does these grand, scary predictions really mean for us? Bankruptcy? Economic collapse? Apocalypse now? End of the world as we know it?
The UN economists certainly think that a la 2007/2008, we are on the verge of the third leg of the global financial crisis – with prospect of epic debt defaults.
We may soon experience the end of the financial world as we know it … but investors and savers feel fine! Many bond and stock markets, including the S&P 500, continue on their merry way to all time record highs.
Few know, or (it seems) care anymore. As we end yet another week with yet another anticlimactic announcement from the “all powerful” Fed, it is understandable that many of us are feeling some cognitive dissonance when it comes to the real impact of central bank announcements, economic forecasts and political changes.
Bail-In Regime Cometh
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