Moody’s is the last of the major credit rating agencies to keep U.S. debt at a AAA rating. Standard & Poor’s cut the U.S. rating and Fitch followed suit last year, citing “the expected fiscal deterioration over the next three years.”
We’ve known for years that the federal government is in a downward fiscal spiral.
The COVID pandemic changed the economy in ways we still don’t fully understand. Jim thinks it pushed us into a new inflation cycle, which was already underway before Trump started imposing tariffs.
The last thing we need is to carry somebody else’s water by starting a potentially catastrophic war where the US has absolutely nothing to gain, but a lot to lose.
Auctions for 30- and 40-year government bonds saw no demand. For a major economy with a historically captive investor base, that’s a significant moment.
Investment demand has been the primary driver for overall Chinese gold demand in recent months, even as price pressure has created headwinds for the jewelry market.
Wilson said that the League of Nations, his pet project, would ensure lasting peace. Instead, it cemented in place the harsh terms of the Treaty of Versailles.
Singapore is also close to 25 percent of the world’s gold mining supply. China, Australia, Indonesia, the Philippines, Papua New Guinea, and Laos are all significant gold producers.
