U.S. Debt Crisis: How We Got Here & Why "Something is Going to Break" | The Gold Spot
The long-standing issue of US debt has been thrust into American consciousness and onto the global stage following staggering pandemic-era spending. Fiscal leaders, domestic and abroad, warn that we're on an unsustainable fiscal path.
The Federal Reserve is the sole source of debt creation, as every dollar it prints is technically borrowed. Unfortunately, even our fiscal czars fail to understand the intricacies of our monetary system, as revealed by a viral gaffe from a top Biden economic advisor. ( Watch here 👉 • Biden's Economic Adviser Tries and Fa... )
The scourge of #ModernMonetaryTheory put the country on the fast track toward a seemingly inevitable #debtcrisis or #currencycrisis. The staggering US debt is attracting rising annual interest payments to the tune of $1 trillion, further straining an already beleaguered budget.
Unfortunately, the fiscal mismanagement is trickling down to impact everyday Americans. Credit card debt is at its highest levels while savings accounts dwindle.
In this week’s The Gold Spot, Scottsdale Bullion & Coin Sr. Precious Metals Advisor Damian White and Precious Metals Advisor Todd Graf explore how we arrived at this debt bubble, how federal debt affects individuals, and how #gold is a solution.
READ MORE HERE: https://www.sbcgold.com/blog/debt-cri...
⭐ RELATED LINKS:
▶️ US Debt Bubble: The Most Predictable Crisis in History?: • US Debt Bubble: The Most Predictable ...
📈 $34 Trillion Visualized: • Visualizing $34,000,000,000,000 U.S. ...
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⭐ @sbcgold Precious Metals Advisors in this The Gold Spot video:
👤 Damian White: https://www.sbcgold.com/about/damian-...
👤 Todd Graf: https://www.sbcgold.com/about/todd-gr...
Jump to:
0:00 - Welcome to The Gold Spot
0:13 - How The US Debt Got So High
1:25 - Biden’s Economic Advisor Fail
2:45 - US Debt Charts
4:30 - Thanks for Watching
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