President Biden says that only $6 trillion of the $8 trillion infrastructure spending over the next decade will be borrowed. However, The New York Post suggests it will be more, particularly because Biden’s expanded child tax credit is supposed to expire within a few years, but Democrats intend to make it a permanent policy and baby boomers coming of age are projected to push the Social Security and Medicare programs to new levels. In a cover story titled “Debt Bomb: Dems plot this week to blow a hole in federal budget for generations,” the Post further suggests the Democratic spending spree is just getting started and Biden “still has $3 trillion in leftover campaign promises covering Social Security, healthcare, higher education and other issues.” It extrapolates that if his entire agenda is enacted, the national debt held by the public “which was just under $17 trillion before the pandemic – would reach $44 trillion a decade from now.”
With the national debt continuing to swell, the Fed indicating an end to non-existing interest rates and the dollar coming under increased duress from a variety of wannabe world reserve currencies, there can be no doubt that the stock market and other popular financial instruments will begin to falter and continue to suffer from now on. That’s assuming that we don’t crash the entire economic system by failing to increase the debt ceiling and defaulting on our responsibilities, which would exponentially increase the danger to everything already mentioned. In addition, it would increase unemployment and further the possibility of recession.
As has always been the case in such circumstances, physical precious metals will typically continue to increase in value as other financial instruments continue to fail. At the end of last year, Bank of America projected that gold would achieve $3,000 per ounce, by the end of 2021. In spite of its lackadaisical performance so far this year, gold and other precious metals might possibly the best investment vehicle available and today’s lower prices are just an added enticement. Call the precious metal experts at American Bullion, to explore the many ways available to protect your wealth, retirement, and legacy. Many of these negative factors are manifesting themselves daily. Don’t get caught without a chair when the music stops.
Call American Bullion now at (800) 531-6525 or (800) GOLD-IRA.