Why Gold Price Keeps Hitting New Record Highs

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The National Debt in the United States is nearing $34.5 trillion, while household debt climbs to an all-time high of $17.3 trillion, led by soaring credit card debt.

Alex references 1971, when Nixon took the U.S. off the gold standard. Back then, U.S. financial assets stood at $2 trillion; today, they stand at $130 trillion! Despite this massive increase in wealth, purchasing power continues to decline in today's economy with soaring costs.

If rates remain high for too long, the threat of a debt spiral increases for America...

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Sources and supplementary information:

https://www.usdebtclock.org/

https://www.federalreservehistory.org/essays/gold-convertibility-ends

https://www.statista.com/chart/19955/household-debt-balance-in-the-united-states/

#inflation #gold #usdebt #creditcards

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