Owning Gold and Silver Bullion As Financial Insurance is An Important Part of Any Prudent Financial Plan ~ Precious Metals News. Raising the #DebtCeiling Means Jacking Up Future #Inflation. Raising the Debt Ceiling Means Jacking Up Future Inflation. The dramatic failure of the U.S.
Senate’s last-ditch Obamacare repeal effort leaves Republicans so far without a major legislative win since Donald Trump took office. No healthcare reform. No tax reform. No monetary reform. No budgetary reform. The more things change in Washington... the more they stay the same. Despite an unconventional outsider in the White House, it’s business as usual for entrenched incumbents of both parties. Since March, the Treasury Department has been relying on “extraordinary measures” to pay the government’s bills without breaching the statutory debt limit. By October, according to Treasury officials, the government could begin defaulting on debt if Congress doesn’t approve additional borrowing authority. Treasury Secretary Steven Mnuchin wants Congress to pass a “clean” debt limit increase.
Fiscal conservatives hope to tie the debt ceiling hike to at least some budgetary reforms. Trump’s Budget Cut Proposals Declared “Dead on Arrival” by Spending-Drunk Congress. What the Death of the #Penny Means for Our #Money. What the Death of the Penny Means for Our Money. By Stefan Gleason The dollar’s reign as the world reserve currency will come to an end some day.
But before that happens, the penny will likely go into the dustbin of monetary history. U.S. pennies have already been debased – going from 95% copper before 1982 to just 2.5% copper (and 97.5% zinc) since. Now there’s a push afoot in the Senate to junk the penny entirely. All the sound and fury Republican leaders made about repealing Obamacare signified nothing. Supporters of eliminating the penny note that it no longer makes any economic sense to produce them. They argue that few people would care if their purchases were rounded to the nearest $0.05, as is now done in Canada. That’s pretty much true. The decline of the value of the penny toward functional obsolescence is a sad statement about our monetary system. According the Bureau of Labor Statistics’ own historical inflation data, a penny in 1913 (the year the Federal Reserve was created) had the same buying power as a quarter does today. It’s Better to Buy #Gold & #Silver When It DOESN’T Feel Good.
It’s Better to Buy Gold & Silver When It DOESN’T Feel Good. Commodities / Gold and Silver 2017May 24, 2017 - 10:54 AM GMT By: MoneyMetals Mike Gleason: It is my privilege now to welcome back David Smith, Senior Analyst at The Morgan Report and regular contributor to MoneyMetals.com.
David, thanks for joining us again. How've you been sir? David Smith: Very good Mike, it's great to be back. Mike Gleason: Well, before we get into other topics such as the Silver Institute's latest report on the silver market and also the article you wrote for us recently on digital currencies, crypto-currencies, and so forth, I first want to have you set the stage here on where we are and where we've been in the metals markets. Now here we are talking on Wednesday afternoon. David Smith: Well, yeah, and I share the view of people who are pretty worn out by this.
I think as we see this falling away, this ability to manage things so to speak, we're going to see stronger and more sustained upward pricing on the metals. I'd like to say one more thing on this, Mike.