"America is in no condition to endure an economic downturn, yet a downturn is coming, almost as surely as night follows day. When the next crisis unfolds, I expect the Fed to quietly ask the Chinese central bank to revalue gold, by announcing a major gold buy program. This would allow China’s currency to become a competitor with the dollar. Equally importantly, it would allow the Fed to hide[...]
Tag: government debt
Missing Money: What Government Accounting Really Looks Like
by Jeff Desjardins For some time now, the Government of the United States has been effectively checking through their couch for loose change. Anything helps, even if the debt owed is a staggering $17 trillion. Not only is the United States continuing to spend quite frivolously, sometimes they don’t know where the money is going. A thorough review of Uncle Sam’s accounting presents some[...]