Friday, July 21st, 2017 MST

Category: Debt

Gold, silver hammered

Gold and silver prices were hammered this morning, gold down $20 at its low, silver down $.60. Both recovered only slightly. It is no coincidence that the metals dropped in what is one of the slowest commodities trading days of the year, tomorrow being the 4th of July with most bullion house traders in the

David Stockman-Everything Will Grind to a Halt in 2017

I’m not fond of recommending videos, especially long videos.  However, this video interview of David Stockman, Budget Director during the Reagan Administration, is well worth the time. Stockman reminds us of problems and developments that are being ignored.  For example, Obama and Congress made a deal years ago to suspend the debt limit until March

Overriding of veto could be good for gold

Congress’ historic overriding of Obama’s veto of the bill that will allow the families of 9/11 victims to sue Saudi Arabia for its alleged role in the terrorist attacks — intentional or inadvertent — has potentially dangerous ramifications for the US but could result in a really positive effect for the price of gold.

Still another debt problem

The official federal government debt now stands just a tad over $19.5 trillion.  Yet few talk about it, and even fewer are concerned. Off-balance sheet liabilities (commitments that have been made but funds not set aside for) are some where north of $100 trillion dollars.  Rarely talked about.