Why is Gold Going Through the Roof?

Gold is going through the roof because the already unpayable US debt is, too!

After all, if there is no hope for US debt at $34 trillion today, how about when it reaches $141 trillion in 2054?  And that is where the Congressional Budget Office says we are headed!

$141 trillion is a lot of money!  How does a national government even begin to pay the interest on a debt that big?  You know the answer:  money printing!

Former Federal Reserve Chairman Ben Bernanke was both candid and shameless about it just a few years ago:  “The US government has a technology, called a printing press, that allows it to produce as many dollars as it wishes at essentially no cost.”  

Look, from 2024 to 2054 the annual deficits will average 6.7 percent of GDP.  That is almost double their average over the last half-century!

By 2054 the deficit will hit 8.5 percent of GDP.

Says the CBO, apparent master of understatement, “Such large and growing debt would have significant economic and financial consequences.”

Among its other effects, it would slow economic growth, drive up interest payments to foreign holders of U.S. debt, heighten the risk of a fiscal crisis, increase the likelihood of other adverse outcomes, and make the nation’s fiscal position more vulnerable to an increase in interest rates.

When we want to print something, we have to buy inkjets, make sure there is plenty of paper in the printer and hit Control P.  Today the Fed’s legalized money printing is mostly digital.  It’s so easy now!  They don’t even have to cut down all those trees for paper like they used to do!  They must be environmentally friendly!

Make sure you have plenty of US gold coins, Maple Leafs, Krugerrands, other favorite coins, and gold bars!  And don’t forget the silver – bars and coins!  You’ll need it!