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As if hanging on to your hard-earned money is not difficult enough, now comes another issue that investors/taxpayers have to face. That is, state and local governments openly admit to $1.4 trillion in unfunded liabilities ($11,000/household), while the Federal Reserve estimates the number to be $4 trillion ($32,000/household).
The below graph is a downward sloping bullish graph for the price of gold. Often times, such formations break out to the upside. Gold is now making its fourth attempt at bettering the top downtrend line, which is where breakouts often occur.
There was a time when going to work for a major U.S. corporation set Americans on a path to the middle class with secure retirements. No more.
The US Federal Reserve and the European Union’s central bank recently announced plans to inject massive liquidity into their respective money markets. However, the Fed denies that its buying is another quantitative easing program while the ECB admits that it is.
Not seen in the news, but the national debt rose $621 billion in the 4th quarter. That’s at an annualized rate of nearly $2.5 trillion.
Not only have central banks added to their gold holdings, so have gold-backed ETFs.
In 2018 the Fed imposed four rate hikes, and stocks were virtually flat for the year. Actually, in the fall of 2018, stocks took a huge tumble.
Few Americans are aware that our federal government does not have a limit on how much money it can spend. It was not always that way. Prior to 1939, Congress had to approve every purchase made by the Treasury. It was then that Congress imposed a debt ceiling, which was watched closely by all. Fiscal
There are lots of reasons for owning gold and silver. The rising federal debt alone and a government that has abandoned fiscal responsibility could cause interest on the national debt to top $1 trillion in ten years.
