Gold Price Report: RECORD DEBTs vs Gold Value Tail Winds
Hey Daily Coin visitors,
Here is a short video update of how off the rails our collective Record US / Global Growing Debt Levels are getting.
Federal Reserve Chairman Jerome Powell’s hot Nov 13th takes that all we have to do is, “get the economy growing faster than the debt” is akin to saying all we have to do is find pure heroin and avoid the Chinese fentanyl. Meanwhile same day Powell was stammering through a consortium half-truths, the NY Fed had already loaned over $3 trillion in overnight REPO markets since middle September 2019.
Delusional is to wait for yet another financial or potential currency crisis before restructuring this broken road we are on. But that looks like the tactic we’re collectively taking as a species. Hedge accordingly.
Full transcript, a record debt level chart, and more deep-dive bullion info is back on our SD Bullion blog.
This week, I want to take us all back to hear some more US congressional testimony from Federal Reserve Chairman Jerome Powell yet again speaking to US Congressional Joint Economic Committee.
This hearing occurred roughly ten days ago on Nov. 13, 2019.
In this clip, Powell speaks about the unsustainable debt-driven path the US is currently on. With hard Federal Debt now past 23 trillion, a few trillion more than our annual GDP.
There will be no mention of unfunded liabilities or other much promises we have not saved for such as social security, medicare, pension liabilities, unfunded private debts, or other mandatory unfunded government debts. The total of that is currently estimated anywhere from $100 to over 200 trillion, depending on your estimation source.
Without further ado, here is Chairman Powell.