Tag: government

Chris Powell: Governments Are LYING about Their Gold Activities while Mining Companies Cower

Chris Powell: Governments Are LYING about Their Gold Activities while Mining Companies Cower

Your browser does not support the podcast player element. DOWNLOAD MP3 Mike Gleason: It is my privilege now to welcome in Chris Powell, Secretary-Treasurer at the Gold Anti-Trust Action Committee, also known as GATA. Chris is a long-time journalist and a hard money advocate and through his tireless efforts at GATA he is working to expose the manipulation of the gold and silver markets. Through GATA’s work over the years some important revelations have come to light, which quite honestly should concern everyone. It’s great to have him back with us. Chris, good to have you on again and, how are you? Chris Powell: Oh, very good, Mike. Glad to […]

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Government Insolvency Gets Harder to Ignore

Government Insolvency Gets Harder to Ignore

Several U.S. states and the federal government are hopelessly insolvent. It’s something many bullion investors have known for years. The real question is when this reality will pierce the mainstream illusion that deficits, and the crushing pile of debt which accompany them, don’t matter. That moment drew closer last week when ratings agencies downgraded Illinois state bonds to one notch above “junk” status. S&P and Moody’s dropped the state’s creditworthiness rating to BB+/Baa3 – the lowest ever for a U.S. state. Illinois currently has $14.5 billion in unpaid bills and a government deadlocked over forming a new budget. That stack of bills represents a whopping 40% of the state’s operating […]

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Another Potential Government Shutdown… Oh My!

Another Potential Government Shutdown… Oh My!

The U.S. Congress runs up against their self-imposed borrowing limit once again this week. During the last tussle over the borrowing cap in October 2015, Congress agreed to schedule this week’s political theater to occur well after last Fall’s elections. They didn’t even bother to guess how much additional headroom would be needed. They just suspended the debt limit altogether. Neither Democratic nor Republican leadership wanted voters focused on borrowing and spending when they went to the polls. Government employees can count on eventually getting paid for any time they are furloughed. When the show is over, most in Congress will agree to saddle taxpayers (and their kids) with a […]

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