The Mountain of Debt
Why they’ll have to crank up the money printing!
The mountain of debt is not just big. It is ridiculously large! Unpayably huge!
It is unpayable unless the authorities inflate the currency to near worthlessness. Unfortunately, that seems to be the preferred alternative for central banks that find themselves in a debt squeeze like ours.
From a New York Federal Reserve Bank press release:
TOTAL HOUSEHOLD DEBT REACHES $17.06 TRILLION IN Q2 2023; CREDIT CARD DEBT EXCEEDS $1 TRILLION
The Fed, which drove this bubble of unsustainable debt with the misleading signals it sent to businesses and consumers from decades of interest rate suppression, is now driving this debt mountain into crisis territory. That is because, having hiked interest rates 11 times since March 2022, debtors are beginning to find that higher interest rates are eating them alive.
At the same time, the Fed’s inflation has raised the price of consumer staples to a new plateau.
Although few of them had that much, Americans used to believe that they needed $1 million to fund a comfortable retirement, according to a Yahoo! Finance article. But now thanks to the depreciation of the dollar, the piece reports that Americans now believe they will need $1.9 million:
A million bucks isn’t what it used to be. It was once thought a retirement savings milestone, but 401(k) plan participants now believe they’ll need nearly twice as much, according to a Schwab Workplace Financial Services survey.
The problem is much bigger than higher consumer prices and credit card debt. Government borrowing faces the Fed’s higher interest rates as well. In fact, US debt will rise by $5.2 billion — every single day for the next decade!
We have an idea for you. How about liberating yourself from the failing monetary system, one that will have to massively inflate the currency to make nominal payments of its debts? How about protecting yourself with money that can’t be printed?
Actually, it is a time-tested idea, one that has protected the wealth of people throughout the centuries and from reckless government and their mountains of debt everywhere around the world. Gold and silver are the world’s preferred money in times of government failure and monetary crises.
Remember, they can’t just print more gold and silver! Speak with a Republic Monetary Exchange precious metal professional today. Don’t procrastinate. Behind the curtains, things are moving very fast!