It has increased approximately 70 percent over the last year. Indeed, the increase over the last month has been astonishing to watch.
This is an indication that investors in the United States and globally lack confidence in the U.S. dollar. The insane levels of deficit spending in Congress, and the national debt we have accumulated, are at fault.
It seems the market is telling us that something bad is going to happen. It would be difficult to conclude otherwise.
Well I certainly don’t want another Great Depression. The national debt certainly isn’t helping things and it must brought under control. The pols in Washington know the solution but for a variety of reasons fail to stop the spending.
As we have said for years, Fred, things are going to have to get pretty desperate before they do anything.
The deficit spending is enabled (as surely as anyone enables an alcoholic) by the Fed creating money out of thin air to buy the debt. Thereby they steal the value of your real savings and earnings. The Fed is an engine of legal theft.
The fact that the Fed is organized crime on a massive scale is worse than the fact that it spits in the face of the Constitution, which decreed gold and silver money. Article 1, section 10: “No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts.”
It is interesting, J. Sobran, to see the powerful institutional forces all militating in favor of retaining the current system, in spite of the obvious…