Western Investors Return to Gold: ‘Push and Pull’ Dynamics – Joe Cavatoni

"IF KAMALA TAKES THE LEAD"

HAHAHAHAHA. NOT HAPPENING, BUDDY

So the price of gold will go down and that’s when I should buy it ?

Carnivore menu for your best health and to save money. Stop eating junk food and plants to get healthy. Cancer feeds on sugar and carbohydrates so Stop it! Watch doctor Shawn Baker and doctor Ken Berry.
Keep STACKING

The more I learn about Versidium, the more I believe in its vision.

This Guy is the Worst in Kitco. What verbiage waffle. Little Room for the Guest to Speak. Prima Donna Dunce

Jeremy is all about me. Talk, talk, talk, "talk to ME!" The audience is of no consequence, it's "we talked" & "talk to me". He adds little to any discussion in addition to hogging the spotlight & being annoying, repetitive, cliched, over the top. Well below the high standard of other Kitco interviewers, especially Michelle Makori.

THE US NATIONAL DEBT WILL NEVER BE PAID OFF!

Every year for the rest of your life, part of your Federal tax bill will be spent to pay the annual interest payment on the National Debt.

This debt occurs, in any given year, when Congress spends more money than they receive in taxes. Every year Congress only pays the “interest” on the National Debt. Congress does not pay for the money they borrow, Congress only pays the interest on the money they borrow. The total amount of money Congress has borrowed and not paid back is the National Debt. Presently it stands at $35 trillion dollars.

So how can Congress never pay back the money they borrow? Because they make the rules on how to pay back money they borrow.

An example: Suppose by July 2023 Congress has spent all the tax money the nation has sent in for taxes for 2023. Suppose an Interstate Bridge bridge falls down in Baltimore, Maryland in August 2023. Suppose a new bridge costs $5 billion dollars. Congress has no tax money, they already have spent all of it by July 2023. So they borrow the money.

Congress tells the Treasury Dept: get me $5 billion dollars. The Treasury has an auction and does all the paperwork and lines up the lenders to provide them with $5 billion dollars. The terms are as follows: the Treasury will pay the lenders 5% interest on the $5 billion borrowed every year for 30 years. On the last day of the contract, the Treasury will return the original $5 billion.

The bridge gets built. Hopefully nothing else will go wrong for the rest of the year or years, like a major Hurricane, or a major earthquake in CA, or a major military escalation in another part of the world, or any major repairs to any infrastructure critical to the nation, or another major epidemic, or an “out of nowhere” terrorist attack, or a recession or depression, etc.

30 years go by and it is the last day of the contract. Congress needs $5 billion to meet the final payment. Problem: Congress does not have $5 billion to pay the lenders. So the Treasury conducts auction (number two) to raise $5 billion, but this time the lenders want 6% interest. Both lenders and the Treasury agree.

Same rules as before except the interest rate is now 6% vice 5%. The Treasury receives the $5 billion and pays off the $5 billion from the original auction. The Treasury will still need to pay $5 billion at the end of the next 30 year period. Congress only pays the yearly interest payment every year for 30 years and the process is repeated again.

Bottom line: Congress never pays off the original loan. Congress only pays the interest on the loan. Congress basically uses an “interest only” credit card every time they borrow money. The original $5 billion loan is never paid off and is just added to the National Debt, which grows larger every year. The only time the US was completely debt-free was in January 1835, during the presidency of Andrew Jackson. Because of all the loans not paid off, America has now accumulated a National Debt of $35 trillion dollars.

In 2024, Congress and the President authorized another $1.9 trillion dollars to be added to the National Debt. It does not matter whether a Republican or a Democrat is elected President – the American taxpayer will pay $1 trillion dollars in interest on the National Debt in 2026.

Bottom line: The only practical way to decrease the National debt is for Congress to spend less than it receives in taxes. The extra money is used to pay off part of the debt. Do you think Congress, the President, and the American people can form a consensus to accomplish this objective?