• Here’s a story we have told before, but with gold hitting so many all-time highs lately, it is one that deserves to be told again. It’s Washington’s paper money counterfeiting scheme! It begins with a serious economic crisis that is fast approaching.  Here’s a snippet from Fred Hickey (The High Tech Strategist) from April 2, 2024.  It raises alarms as it highlights just how fast things are spinning out of control.  In just the last 20 days, he writes, US government debt increased by $168 billion.  That is equal to the entire US deficit in 2002!   This unrelenting gusher of red ink ensures that something like a “Crack-Up Boom” is fast approaching today.   That is the name the great free-market economist Ludwig von Mises coined to describe the last stage of a currency breakdown:  The Crack-Up Boom.  In German, it is “Katastrophenhausse,” a catastrophe boom. Because we think our friends and clients will need to know very soon, from […]

  • Washington is squirting red ink out from every pore.  The budget year is half over, finishing with a deficit of more than a trillion dollars.   This will end badly. We have been sounding an alarm in these posts about US debt and the fear that it would get away from us.  A few recent examples: Another Ominous U.S. Financial Update Time to Take a Look at the U.S. Fiscal Situation! Uncle Sam’s Credit Score Keeps Falling We believe the price of gold is confirming that Washington’s debt is every bit as bad as we have said. Our opinions don’t have the force of law, but to us the US national debt is a matter of criminal negligence.  Washington has been indifferent to the debt as it grew, and now it is too late:  the national debt has gotten away from us! From the Wall Street Journal:  The Congressional Budget Office reported Monday that the federal budget deficit for the […]

  • Lew Rockwell Says “Let’s Do Everything we can to end the Fed…” “The power to create money is the most ominous power ever bestowed on any human being. This power is rightly criminalized when it is exercised by private individuals, and even today, everyone knows why counterfeiting is wrong and knavish. Far fewer are aware of the role of the federal government, the Fed, and the fiat dollar in making possible the largest counterfeiting operation in human history, which is called the world dollar standard. Fewer still understand the connection between this officially sanctioned criminality and the business cycle, the rise and collapse of the stock market, and the continued erosion of the value of the dollar.” Those are the words of one of the most important champions of sound money in this age.   Lew Rockwell has been extraordinarily effective in the fight, on the front lines of the battle, and always in key positions.  He was a former […]

  • First the NY Times!  Now Chase Bank? If you aren’t panicking about the US debt picture, you may not be paying attention! Now even the most establishment of establishment figures are starting to show signs of panic, Including the most establishment banker of America’s most established bank. Jamie Dimon is the chairman and chief executive officer of JPMorgan Chase, the largest bank in the US.  They like him a lot.  He’s been in that role since 2005, a job that has made him a billionaire.   Maybe Dimon isn’t panicked, but he sure is worried that we are at the brink. “It is a cliff. We see the cliff. It’s about 10 years out.” The US national debt is currently more than $34 trillion.  Throughout its history, US debt has averaged 30 percent of total US economic output. Today, it is 123 percent, more than four times the average. It is more than the entire annual productivity of China, Japan, […]

  • It’s an easy story, the future of the US dollar.   So easy in fact, that we think we can tell it in three simple pictures. First of all, the US is the biggest debtor in the world, the biggest of all time.  Take a look at the first picture from Visual Capitalist: The US is the world’s biggest debt by far, responsible for more than a third of the world’s $97 trillion national government debt.  It can’t pay this debt back in an honest, reputable way. Now the second chart, this one from Wolf Street.  It calls this chart Debt out the Wazoo!  That couldn’t be more accurate: It depicts how fast US debt has been growing, especially since 2020.   And it is not slowing down.  Washington ran the biggest monthly deficit in history in November, $317 billion in a single month.   How come so much red ink?  Was there a massive shortfall in tax revenue?  No.  […]