We are starting to see the chaos in the gold and silver market, and this will likely only speed up in a similar manner to the 1979 gold and silver rally, when prices went vertical.
Gold is up over 87 percent since January 2024 and is knocking on the door of $4,000 an ounce. But even with the rapid price surge, Miller said gold is not overpriced.
The news is that 22 states are fully in recession. Half of the rest are just “treading water,” and the remaining quarter or so are still hanging in there on the positive side.
Gold and silver will not solve every problem. They are not perfect assets. Yet they remain among the very few forms of wealth that cannot be deleted, suspended or rendered inaccessible by policy or programming.
It will depend on how long the budget stalemate drags out, but from a historical perspective, the impact of government shutdowns has been relatively short-lived and contained.
Sadly, human nature seemingly ensures we often use debt unproductively—and not just as individuals. Governments have their own special way of using debt to buy benefits (and votes?) today that future generations will pay for.
