Sierra Madre Precious Metals

Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold“.

It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years. Continue reading →

Hedge Fund Boss Warns Politicians Are Spending ‘AT THE EXPENSE OF FUTURE GENERATIONS‘

Hedge fund billionaire Ken Griffin has warned that the ‘surging’ US national debt is a ‘growing concern that cannot be overlooked.’

Griffin, who founded and runs Miami-based hedge fund firm Citadel – which had a key role in the Gamestop share frenzy – sounded the alarm in a year-end letter to investors released this week.

‘We must stop borrowing at the expense of future generations,’ he wrote. Continue reading →

The U.S. is almost certainly on an unsustainable path with regard to the astronomic rise in its national debt, according to a million simulations run by Bloomberg.

Bloomberg reported Tuesday that it conducted a million simulations on the U.S. debt outlook and found 88% of them show borrowing is on an “unsustainable path.”

The findings come after a forecast by the Congressional Budget Office that indicates the national debt will grow to an astonishing $54 trillion in the next decade, the result of an aging population and rising federal health care costs. Higher interest rates are also compounding the pain of higher debt.

Payments are expected to triple from nearly $475 billion in fiscal year 2022 to a stunning $1.4 trillion in 2032. By 2053, the interest payments are projected to surge to $5.4 trillion. To put that into perspective, that will be more than the U.S. spends on Social Security, Medicare, Medicaid and all other mandatory and discretionary spending programs. Continue reading →

This is critical information if you want to understand the trajectory of inflation.

I’ve been talking about this for a long time: higher oil prices are inflationary. And I think 2024 will be the year that people finally start to realize that the inflation monster has not been slayed. Month after month we see these ‘surprise’ inflation numbers showing prices remain ‘stubbornly high’. It’s not stubborn, it’s just stupid policy… and oil prices have a lot to do with it. Continue reading →

In case you thought anybody in Washington was driving this thing, they are not.

It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the previous record, which had stood for 231 years.

In raw numbers, the latest numbers for Q4 2023 show Treasury issued $7 trillion in new debt. For the entire year, it came to $23 trillion. Continue reading →

Last month, the US Senate passed a resolution saying the over 34 trillion dollars (and growing) national debt threatens national security. A few days later, a bipartisan majority of the Senate voted for a 1.2 trillion dollars spending bill. In addition to the usual increases in war and welfare spending, the bill funds gender transitioning for minors without parental consent and red flag laws, which allow law enforcement to seize an individual’s firearms without due process.

Before passage of the latest spending bill, the Congressional Budget Orifice (CBO) released a report predicting that the national debt would exceed the prior record of 106.4 percent of gross domestic product (GDP) by 2028. Interest payments on the national debt are estimated to reach 870 billion dollars this year, more than the government will spend on the military. The CBO estimates that, unless Congress cuts spending (which is highly unlikely), by 2051 interest on the debt will exceed not just military spending but spending on the two biggest items in the federal budget — Social Security and Medicare. Continue reading →

Utah Governor Spencer Cox has signed legislation explicitly empowering the state treasurer to protect state funds with an allocation to physical gold and silver.

Sponsored by Rep. Ken Ivory, House Bill 348 permits – but does not require – the Treasurer to hold up to 10 percent of certain state reserve accounts in physical gold and silver to help secure state assets against the risks of inflation and financial turmoil and/or to achieve capital gains as measured in Federal Reserve Notes. Continue reading →

How much longer will the Biden administration and the mainstream media continue to deny that we are in the midst of a very painful economic downturn? Debt levels have never been higher, delinquency rates are spiking, the commercial real estate market is crashing, the banking industry is mired in turmoil and large companies are conducting mass layoffs all over the nation. Anyone that attempts to claim that the U.S. economy is in good shape is just being delusional. Unfortunately, it is those that are at the bottom of the economic food chain that are being hurt the most.

If you want to know what is really going on with the economy, pawn shops are a great place to look. Continue reading →

The manufacturing and consumer confidence weaknesses of the United States are deeply concerning, particularly considering that all those allegedly infallible Keynesian policies are being applied intensely.

Considering the insanity of deficit spending driven by entitlement programs, the decline in the headline University of Michigan consumer sentiment index in March to 76.5 from 76.9 is even worse than expected. Let us remember that this index was at 101 in 2019 and has not recovered the brief bounce shown by the re-opening effect in March 2021. Consumer confidence is still incredibly low, and a decline in the expectations index fully explains the most recent decline. Persistent inflation, high gas prices, and declining real wages may explain the poor expectations of the average citizen. Furthermore, this poor consumer confidence reading comes after poor control group retail sales last month. Continue reading →