Do You Hear the Bells and Buzzers Going Off?
They are saying “Buy More Gold!”
It’s not good when you get three stories like this all lined up in a row, all at once on a major new site.
It’s like getting three cherries in a row on a Las Vegas slot. Except that it’s not a jackpot. Quite the opposite. Still, bells and alarms should start clanging and you need to take notice.
The other day all three stories lined up on the Drudge Report. First of all, higher interest rates are costing the US Treasury a lot of money. This story details that the Treasury spent $89 billion in interest payment to bond holders just in the month of March. In case you wonder how much that is per minute, a Yahoo News headline spelled it out for us: “At $2 Million Per Minute, Treasuries Mint Cash Like Never Before.” The financial press can spin it as a good thing that investors are getting interest income, but it will all be paid for by higher inflation since the government continues its wild deficit spending.
Speaking of inflation, next came the news from Business Insider that even people with six-figure incomes can’t seem to get ahead. “Inflation is scrambling Americans’ perceptions of middle-class life,” it said. The story reports that things that used to bc a part of middle-class America life appear to be ending. Half of Americans don’t plan on taking a summer vacation because of the higher cost of living, while 38 percent says they wouldn’t be able to handle an unexpected expense of $1,000 or more.
While we’re digesting all that, we get more news that makes clear that the dollar isn’t what it once was. What was it once? Once in was as good as gold. No more. Today only gold is as good as gold, as China has figured out: China Is Buying Gold Like There’s No Tomorrow first appeared on the New York Times webpage. It reports on what we have called the biggest financial megatrend of our age, de-dollarization: “In March, the People’s Bank of China added to its gold reserves for a 17th straight month. Last year, the bank bought more gold than any other central bank in the world, adding more to its reserves than it had in nearly 50 years.” (Update: New numbers just in for April: China has now been adding to its gold reserves 18 months in a row!)
So there you have it, three back-to-back stories that are all related. The Treasury is spending like crazy to borrow money it needs to stay afloat, the middle-class is in the crosshairs of the inflation squeeze, as it always is, and the world is turning to gold, as it always does.
Ding! Ding! Ding!
We think the way things are lining up, you should be hearing alarm bells. This is the time to make sure you have all the gold and silver you need for the crisis that is now underway. A Republic Monetary Exchange precious metals professional can help you construct a portfolio for safety and profit.