COMMODITY TRADE MANTRA: Gold Prices to Soar on Fears of a Highly Overdue Currency Collapse
By: Christine von Liederbach
September 8, 2020
Article in Commodity Trade Mantra
Why are gold prices soaring? Have gold prices peaked or is there more to this rally than has been seen till now? Is the US Dollar on the verge of a collapse? Read further to find an answer to all your questions…
The problem with being the envy of the world is that it changes your behavior. You start believing that you are very special for reasons that are not grounded in reality
. You start believing that bad things
happen only to other people and nations
because they are not as special as you. You can do anything you want — borrow and spend as much as you like — and nothing bad will happen to you. This behavior in turn starts to undermine the core reasons why people trusted your country and currency to begin with
. – Market Watch
This is what is now happening to the U.S
. In 2020 the ratio of U.S. debt to the output of the economy (debt to GDP) is likely going to exceed 120% (and might be as high as 130%).
You can blame the coronavirus pandemic
for some of that, but the national debt has been going up steadily. The U.S. has run huge budget deficits in bad times and in good, long before the virus.
In 2000, U.S. debt was $6 trillion — a 30% debt to GDP ratio.
It was $14 trillion in 2010 and $23 trillion in 2019, increasing $1 trillion a year while the U.S. economy was booming. Or maybe this is why the economy was booming. The U.S. was charging $1 trillion a year, year after year, on its national credit card to buy things
and to engineer this growth. To read this article and carts in its entirety, click here.
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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.