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Fiat system under pressure

Next week, the public debt in the US is expected to reach $35Tn. That would be about 125% debt to gdp. Over the last 2 presidencies, national debt has increased by $15Tn, and the cost of servicing the debt is roughly $900Bn, or 17% of total US spending. This is quietly (so far) diminishing the trust on the U.S. ability to service its future obligations and perhaps that’s why we’re seeing gold at all time highs. Furthermore, both presidential candidates have announced measures that will increase spending, and potentially decrease receipts, which will increase the deficit and the need to issue more debt. The only reason why the dollar is still holding its value against other G5 currencies, is because the levels of debt on other developed economies is similar to the ones in the U.S., with the exception of Germany. Beware of the fiat currency system.


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