It’s time to buy the dips. . .
. . . not in stocks but in gold and silver. Actually, it’s been the right move to buy dips in the metals since 2016. But now the reasons for buying are evident.
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Category: Federal Finances
Gold and silver prices explode
Gold and silver prices have exploded. Gold’s up $390 since its March low, silver up $10.60. Silver’s gain is 87% versus gold’s 26%. This is what was supposed to happen being that the GSR (gold silver price ratio) topped 100. Silver has still more catching up to do.
David Stockman’s Contra Corner
I read many articles and newsletters about topics that may affect the gold/silver markets. The one I never miss is David Stockman’s Contra Corner. Stockman was Budget Director during Ronald Reagan’s first term. Below is the start of his blog post for Thursday, December 19, 2019. “The Turbulent Twenties begin 13 days from now. It
A solid year for the metals
2019 was a solid year for precious metals, with gold up $231 (18.5%) and silver up $2.40 (16.4%) since this time last year. Still, not much attention has been paid to the metals on the financial networks.
Debt ceiling increases
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
- Category
- Debt
- Federal Finances
Reasons for owning gold and silver
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.
Spending, and still more spending
Both parties are happy with the spending deal reached Tuesday night between the Trump administration and the Pelosi-controlled House. The Trump administration will see defense spending going to $750 billion while the Dems (and, admittedly, some in the GOP) will see an equivalent increase in domestic appropriations.
Why a gold standard is not a good idea
Herbert Hoover’s name is generally held with derision because he is blamed for the Great Depression. However, here’s one HH statement that all should agree with: “We have gold because we cannot trust governments.” Basically, a gold standard fails as a monetary system because the government is involved.
Student debt crisis
The U.S. student load system is broken. Borrowers currently owe more than $1.5 trillion, an average of $34,000 per borrower. Over two million of them have defaulted on their loans in just the past six years, and the number grows by 1,400 a day. The federal government now acknowledges that taxpayers stand to lose $31.5
Federal budget deficit widens
In the first seven months of this fiscal year, the federal budget deficit grew 38% over the same period last year. The Treasury ran a $541 billion deficit from October through April, compared with $385 billion during the same period a year earlier. Part of the increase was attributable to a shift in the timing
- Category
- Economic Crisis
- Federal Finances