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US Debt Interest Costs Skyrocket 87% as New Federal Fiscal Year Begins

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Moody’s lowered its US credit outlook on Friday to “negative,” signaling a possible downgrade in the future. The ratings agency cited ballooning deficits and political dysfunction. Gross interest on Treasury debt securities jumped 87% from a year ago, fresh data showed. Interest payments reached $88.9 billion last month, as the government finances higher deficit spending. […]

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US Credit Rating Outlook Lowered to ‘Negative’ by Moody’s as Shutdown Looms

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“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”   “Continued political polarization within U.S. Congress raises the risk that successive governments will not be able to reach consensus on a

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China Extends Run of Gold Buying That’s Helped Support Prices

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China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices. Stockpiles of gold reported by the People’s Bank of China rose by about 740,000 troy ounces in October, according to official data released Tuesday. That’s equivalent

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“Green Economy” Expected to Boost Silver Demand and Other Silver News

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The green energy revolution is here to stay, and it will likely have significant impacts on the silver market moving forward. Silver is expected to play a significant role as the “green economy” evolves. The Silver Institute recently participated in a panel discussion titled “Silver’s Role in the Green Economy” at the London Bullion Market Association’s

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The Fuse on America’s Debt Bomb Just Got Shorter

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The Treasury is on track to borrow over $3 trillion this fiscal year, 50 percent more than previously estimated by the Congressional Budget Office. Bidenomics, perhaps best defined as the government spending, borrowing, and printing too much money, not only made the bomb larger but also caused inflation, which forced up interest rates. That was the

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Why BRICS Currency Would Outshine the US Dollar

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The BRICS Currency linked to a basket of commodities could offer stability and attractiveness that could outshine established currencies like the dollar. The presence of a stable alternative to the US dollar could lead to a reevaluation of global economic dependencies and power structures. According to Glazyev, the BRICS currency, which is near completion and

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Nation’s Largest Commercial Banker Blasts World’s Largest Central Banker

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Jamie Dimon said, “I want to point out the central banks 18 months ago were 100% dead wrong,” he added, “I would be quite cautious about what might happen next year….” The last time US government bond yields climbed so far, so fast, the nation plunged into back-to-back recessions. The Fed’s record of predicting recessions

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Gold Shows Surprising Strength Despite Sky-High Treasury Yields, Silver Continues to Be Undervalued – Heraeus

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Gold prices continued to shrug off rising rate hike expectations and skyrocketing Treasury yields as they remain near $2000 per ounce, and while silver’s low prices supported coin sales, the precious metal remains oversold, according to analysts at Heraeus. US Mint silver American Eagles “Cumulative sales year-to-date (including the first two weeks of October) were

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