gold news

 everything is spiking together on one hand you have stocks hitting new records you've got real estate hitting new records you've got precious metals hitting new records but at the same time there's also records that are in things that are not as good such as federal debt levels and now we're paying $1 trillion just to cover the carrying costs on the Federal Credit Card federal debt takes $1 trillion it doesn't go to anything except for debt servicing costs you've got this great American debt bomb

absolutely eclipsing the Sun and inflation has been so high for so long that the average American family is paying $79 more per month than they did two years ago for groceries just to feed their families case in point since I released the Great American debt Bomb Video which was in March 29th 2022 the federal debt since then has ballooned by5 trillion it was at 30.5 trillion March 29th 2022 and it's in increased down to 35 trillion you guys know I had an article published by the US Congress

and it was entitled America's pass the point of no return When was that do you remember it was exactly that article was published on August 9th 2011 that's how long I've been talking about all this stuff people are coming along now talking about it because it's in the focus now but I've been telling you that it's been on the way this entire time and I'm telling you now how it's all going to play out and it's not good but since I published America's pass a point on return on August 9th

2011 the federal debt has risen from $ 15 trillion to $35 trillion it's increased by $20 trillion since I was warning about this debt bomb it will explode it's from CNBC debt held by the public boosted by large deficits is going to reach its highest level ever in 2029 and then it will continue to grow reaching 166% of GDP in 2054 and remaining on track to increase thereafter I have a big problem with that whole word solid because right now we're at a new record 1 minute from now 1 second from now we're at another new

record you say in 2029 it'll be a new record it's going to be a new record in 2024 and 2025 and 2026 every second we have more debt than we've ever had that's not changing and that is still the same problem I was talking about since 2011 so what we have now is this major Detachment between asset values and economic realities and in that there's a lot of risk and Chaos this is from Investopedia new signs of weakening economy heightened concerns about high interest rates a trio of economic

reports came in below expectations raising the prospect that high interest rates are seriously slowing the economy manufacturing activity was lower than expected construction spending was lower and more people filed unemployment claims the increasingly gloomy Outlook raised the possibility that the Federal Reserve would lower its Benchmark interest rate in the months ahead at a faster Pace than previously anticipated now keep that in mind when we talk about the report that came out this very morning

but first I want to continue on that construction spending fell in June for the second month in a row The Institute of Supply management shows that manufacturing activity is declining for a fourth month in a row in July the 20th decline in the last 21 months and Industry struggles may be affecting workers too because 249,000 people filed for unemployment for the first time the most since last August the Department of Labor said there's other problems too look at the balance of trade or the operating deficit of the

federal government you've got records in state debts corporate debts Municipal debts more homelessness than ever longer lines of the food banks than ever spiking Auto repossession and a decline in the amount of overseas Investments that Americans hold meanwhile and what I forgot to mention a few videos ago when we were talking about China is that they are not only digging up the most gold out of any country in the world they're also importing the most gold out of any country in the world and no gold leaves

Chinese Shores that's what every country should be doing just so you know but look at how much money they're making if you go back to when I've been talking about this they were buying gold at what $1,800 an ounce by the ton and they just kept buying in 22200 2400 just buying more and more gold which is all increased in price every move they made they've got a profit on that and a lot of these countries that are going to be developing the brics currency are going to be part of the brics currency they're

loading up on gold to back this currency that they're going to have meanwhile while we're not buying and importing gold and holding gold the majority of our economy 70% 70 is consumer-driven it's you buying stuff that's 70% of the economy rather than making things and selling them for a profit we're just spending money and that's how our economy functions the more you spend the better the economy is if you look at the velocity of money you can see that the activity of the currency is actually

falling so while this is all happening at once the econom is weakening but all the indicators are screaming higher the good and the bad screaming higher the wealth effect increases people feel wealthier so they spend more money as your stocks are doing well you're going to feel wealthier you're going to spend more money as your real estate increases in value you're going to feel wealthier so you'll spend more money you'll feed into this consumer-driven economy and there's more job baning right now than

there has been as far as I've ever seen and I attribute that to the fact that we have a federal election within a month and they don't want the economy to be weak leading up to that the ones in charge or the Democrats they want to make the economy look strong they want to show that the stock market is going up even though underneath the surface there's all sorts of problems with the economy that are not being addressed but we're all just looking at the unemployment rate and we're looking at

the stock market and that's implying that oh the economy must be strong this is going to be an issue because the reality has a way of always eventually coming out even if it takes a long time to get there here's a chart of monetary creation and yes we're going to have way more money created big time and that's going to mean things like real estate and stocks can increase in value seemingly nominally because it looks like it takes more and it does take more US dollars to buy the same thing so you can say wow my

grandfather's house was $40,000 now it's worth $400,000 and you say wow what a great investment and it actually didn't increase in value as much as it just takes more dollars to buy the same thing now but between the monetary creation and they're going to be lowering rates pretty aggressively both of those are really good for the stock market and asset values really bad for the dollar but all this currency de basement is going to play out exactly like this I encourage you to think of every single

penny that gold prices increased it it was never an increase in the price it was a requirement of more US Dollars needed to buy that same asset so if gold prices go up $10 an ounce it just means that it takes 10 more dollars to buy the same thing it did the day before when this weakening dollar which will be exacerbated even more by lowering the rates will mean inflation across the board in Venezuela had the best performing stock market in the world best performing gold prices in the world because their current Cy died as their

economy fell apart this just came in this morning inflation rate at 2.4% in September topping expectations jobless claims are the highest since August 2023 my premise is that when the mud hits a fan a lot of things are going to be changing in value for the worse but I believe that gold prices and precious metals will hold up because the big underlying problem is the debasement and the devaluation of the US dollar currency which will play into higher gold prices there will be a time to get out of your gold mining

stocks take your profits cash out and then invest that in things like the Magnificent 7 but that is not yet and I'm keeping a close eye on it this is one of the things I'm watching for and I know that if you subscribe to this Channel or if you subscribe to my stock pick newsletter you're going to be talked through the whole process as that happens I'll give you plenty of warning and my best estimates right now we have a couple of years left before we have to worry about it but I'm keeping an eye on

it so that's why you subscribe to the channel but I believe that gold prices are just getting started and now they've been noticed I noticed them you noticed them ages ago now everybody else is noticing them just like the debt levels that we were talking about since 2011 you still got years of gold climbing in my opinion and silver will do even better it's already doing better than gold percentage wise and no matter how high the stock market goes no matter how high real estate goes it'll fall from

from a higher height stock market can go up 300% it'll just come down 300% Plus at some point in the future