Earlier this year, the US Government hit a new milestone. The amount of government debt in the United States has grown to exceed $33.88 Trillion as a result of overspending by elected officials. The growing U.S. government debt is a complex issue with significant implications for American citizens and taxpayers.
The Federal Reserve is part public entity and part private entity that has operated as the central banking system of the United States since the Federal Reserve Act of 1913. The Federal Reserve System, often referred to simply as the Fed has a unique public-private structure that controls the nation’s monetary policy by managing interest … Read moreWhat is the Federal Reserve?
Gold is considered a crucial element in diversifying a central bank’s foreign reserves because it bears little correlation with other assets, such as currencies and bonds.
While many are monitoring the developments in BRICS, the United States continues to hold the largest stockpile of gold reserves in the world by a considerable margin.
BRICS countries continue buying gold at a record pace as dedollarization continues.
Unlike commodity money like gold or silver, which have intrinsic value, fiat money has no inherent value. Its value is solely based on the trust and confidence that people have in the issuing government. If that trust wanes, the value of fiat currency can be at risk and individuals and everyday workers will continue to see the purchasing power of the dollar diminish over the years. It can impact the ability to save for the future and plan for retirement.
Both Florida and Indiana have recently passed laws banning the use of a central bank digital currency (CBDC) as money in those states.
These laws explicitly exclude a CBDC from the definition of money in Florida and Indiana, effectively banning its use as such in these states.
Legislators in Texas are leading the charge against the Federal Reserve’s monopoly on fiat money by offering an option for people to conduct business in sound money.
Physical gold and silver that would support the backing of the digital currency would be stored in a pooled account at the Texas State Bullion Depository.
The Federal Reserve system is comprised of 12 Reserve Banks that were established following the outbreak of World War I in 1914 as a way to manage the cashflow of the country and to prevent future bank runs and other banking crisis’.
The Board of Governors, which is appointed by the President of the United States, is responsible for supervision of the reserve banks and regulating certain other financial institutions and activities.
The US Mint continues to be slow and unable to meet investor demand.
The failures of the Mint and their planchet suppliers have led directly to significant increases in dealer premiums in recent weeks. This week, the lowest dealer premium for silver eagles is more than 60% over spot price.
Some dealers, such as APMEX and JM Bullion are currently selling silver eagles with premiums at over 88% above spot price.
As the impact of the ongoing banking crisis begins to be felt at home, many Americans are shifting their priorities to protect their financial assets.
The shifting of and diversification of assets is likely continue at a rapid pace in the coming months as excess dollars and crypto funds are moved into hard assets like gold, silver, land, ammunition, firearms and stable food in the coming months as smart investors prepare for further economic hardship.