US Budget Deficit Increases

I thought some of you would be interested in this. Please remember the forum rules against political commentary. Don’t make me regret posting it.

https://www.cnbc.com/2018/10/15/us-...illion-in-fiscal-2018-as-spending-surges.html

 

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I think the Saudi issue might help silver prices but hurt everything else. Time will tell.

 

Not a political response at all, since none is needed. Both party's spend like drunken sailors, just on different stuff.

Kick the can down the road should be our new national motto.

 

Just goes to show you, tax cuts do not translate to decreased spending.

 

We're screwed. Just a matter of how long till it hits the fan, and who can blame the most.

 

Check out the debt clock:
http://www.usdebtclock.org/

Now over 21.6 Trillion.

 

I'm buying silver but it has backfired. The US is punch drunk but the other countries are partying like it is 1999. Meanwhile, precious metals drop as the dollar rises.

 

I would advocate to continue to buy when cheap like this. It cannot last indefinitely.

Always try to buy assets when no one else wants them. It was true of stocks in the 70s, farmland in the 80s, and IMHO somewhat true of pm today. A slow accumulation at these prices are a hedge and I do not think people will regret it in the future.

Boy, I sound like a pm bull now, huh? Don't tell @longnine009 . He thinks I am a pm permabear.

 

If your pragmatic, these may be the "good times" before the correction. Think positive!! I'm buying classics when I see value, as if there's no tomorrow.

The dollar still has relative value! Enjoy!

JMHO

 

As I don't really need money now, I'm willing to wait. It hasn't been a good investment though.

 

During the recent recent price downturn, I didn’t add any gold. The major dealers who offer AGE deals on eBay have been MIA. Nothing but absurd premiums.

 

Yet the American People still have faith........that's what this currency is based on. In God we trust, and the US Gooberment........Me too on this. I have faith in such. It's carried on till now, and I think it will do so in the future.........other than that, gather up your gold and silver, brothers and sisters............

 

There are only two ways to wipe out this debt. And paying it off ain't happening. I'll leave it to you to figure out what the other one is.

 

In reality you are correct, but we don't live in that anymore and the FED (not political at all) has other plans. They control the Treasury(again, not federal) but a group of very super wealthy Rothschild, Icahn, Bernstein, type will do what is best for them.
They have changed the Mark to Market Rules since the last collapse. Thus, the next time they PRINT, they will hide it in Private Bank accounts that dont have to report those losses.
There is also a Jubilee, but they would never take the loss. All this debt, and any bank losses now fall on the public, not the banks, thus the reason we don't hear about Bank troubles anymore, they will never have them again, again, another rules change that makes it the public's debt, not the banks. So, not only did they get bailed out by us, but now move forward creating the same problems they have no responsibility for.
It is amazing how stupid and gullible the public is in today's world. And by the way, in the next crisis, the Gov't, thru the banks has the rights to pull your money directly out of all of your accounts to pay for the debt. Leaving all billionaire as they were, but you, with 50K in the bank will lose half, if they so choose. Your bank account isnt yours anymore, you just dont know that rule changed.
And the FDIC 250K promise ! Has .03c for every dollar they insure. That will be your return, .03 on the dollar

 

Hey Chris,

How you been? I can still be the permabear

Why are you thinking silver is cheap here. Below is a chart of Ag prices for the last 100 years or so and it is neat because it is ADJUSTED for INFLATION so all is in 2018 dollars. Silver has only been at $14 or above for basically only a handful of years during that period. Now with inflation still low, Silver demand flat, and Demand for Lead Zinc and Copper rising (which of course means more silver produced as a byproduct). I am just not seeing Silver cheap here. PLUS, there is a huge amount of Silver sitting around collecting dust in ASE's and Zombucks from the Stacking ERA. I don't think I would call it cheap until it hits around 10 bucks.

 

My view today is PT is the best buy. Many reasons in my mind for this. Next I would say silver, and last gold. I did my own analysis a while ago and my numbers were saying $18ish is a fair value for silver.

All wonderful points, but I am not sure copper maintaining, (biggest primary driver of silver byproduct), maintaining with China bank issues.

So, all in, I am simply viewing a good long term time to accumulate a pile. PT would be my preference, but cheap premium silver and gold coins I am pulling the trigger when I run across them. If silver dropped to $10 that would be great, but premiums would bump up like they always do for 6 months.

Just my opinion right now for a very small proportion of my portfolio. I very well could be wrong of course.

 

Source?

 

Good point. The only deposit haircuts I have ever heard of, (besides simple monetary inflation), was Cyprus, and that was because they knew large amounts of deposits were in the ownership of Russian mafia/oligarchs.

 

They are never going to pay it anyway, so what is the point?