Rig for Stormy Weather
The comments above & below is an edited and abridged synopsis of an article by Gary Christenson
The Dow is at an all-time high. Interest rates in the US are yielding multi-decade lows. Trillions of dollars in global sovereign debt have negative yield, and European junk bonds yield less than 10-year US Treasuries. Official unemployment is low. Borrowing is inexpensive. Some say the times are good.
Yet global debt exceeds $200 trillion and is rising rapidly. This won’t be paid back in currencies with 2017 purchasing power. Debt must be rolled over in continually devaluing yen, euros, pounds and dollars. The financial system rolls over maturing debt, adds more, and pretends repayment will not be problematic.
Official inflation statistics say that consumer price inflation is low. However, if you pay for food, health care, college tuition, auto insurance and many other necessities, you know better.
Official US government debt exceeds $20.5 trillion, more than the GDP. The debt has increased exponentially for the past century.
Interest paid on that debt is approximately $500 billion per year and climbing. Congress is influenced by the financial elite and will not operate within a balanced budget, so the US will pay more interest each year.
US government expenditures increase every year. Since annual revenues are less than expenses by a trillion or so, the shortfall is borrowed, thus national debt rises annually and interest must be paid on ever-increasing debt.
Debt and government expenses are excessive and too large for the economy to support. However, they exponentially increase.
In 2018, expect a reversal in stock market prices, and expect gold and silver prices to climb much higher.
Gold and silver will protect your savings, retirement assets and purchasing power from continual currency devaluations, central bank policy errors and excessive government debt.
