This refusal to confirm gold’s weakness may force a violent rebound in the price of gold.
Refusing To Confirm Gold’s Weakness
July 16 (King World News) – Otavio Costa: Copper refuses to confirm gold’s recent weakness.
That resilience speaks volumes.
KING WORLD NEWS NOTE: Copper’s Refusal To Confirm Gold’s Weakness May Force A Violent Rebound In The Price Of Gold
I suspect gold is about to remind investors why this remains a well-established secular bull market.
The US National Debt Chokehold
Gerald Celente: During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
At this point in the previous fiscal year, the deficit totaled a little more than $1.3 trillion.
Last week, the total national debt was roughly $39.4 trillion. The last time the federal government balanced its budget was in 2001.
At an annualized rate, the weekly $23.8 billion interest charge is $20 billion larger than the budgets of the departments of commerce, defense, education, environmental protection, homeland security, the Small Business Administration, and the Coronavirus Refundable Credits scheme combined.
The cost of Social Security benefits has risen by $62 billion this year, about 5 percent, because benefit amounts and the number of recipients both increased. Medicare’s costs rose by 8 percent, roughly $58 billion, because more people enrolled and payments for services increased.
The cost of Medicaid services, the healthcare program for low-income households, went up by $49 billion, around 10 percent, because payments for medical services increased.
Social Security, Medicare, and Medicaid budgets will continue to increase in coming years, the Congressional Budget Office (CBO) has said, because the U.S. population is aging…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
“The FY 2026 deficit has now passed the FY 2025 deficit, and it is likely to stay that way for the rest of the fiscal year,” Maya MacGuineas, president of the private, nonprofit Committee for a Responsible Federal Budget, said in a statement earlier this month.
If members of Congress and the administration fail to cut spending and raise taxes, the current budget mess is “likely the tip of the iceberg,” she added. “Social Security and Medicare are within seven years of trust fund exhaustion, and action needs to be taken to prevent across-the-board cuts to both programs.”
Her committee advocates capping the annual deficit at 3 percent of GDP, about half the current level. “More importantly,” she said, policymakers must be “honest with the public about the grave dangers we face by remaining on this unsustainable path.”
TREND FORECAST:
As clearly evidenced by President’s Trump’s One Big Beautiful Bill Act that extends some $4.5 trillion in tax cuts – including permanently locking in many of the 2017 tax cuts for the rich and big corporations – the Republican Party ideology forbids tax increases for the rich and big corporations… while the Democratic Party ideology demands generous social spending and higher taxes for everyone across the board… both rich and poor.
Never shall the twain meet until an existential crisis forces drastic action to pull the country back from fiscal catastrophe.
As interest payments rise with the national debt and federal borrowing soaks up more of the bond market’s capital, businesses will begin to press politicians to show financial responsibility. The corporate community may become a de facto caucus around fiscal responsibility and actively support politicians who preach fiscal sanity.
However, it already is late for that alternative to materialize.
We maintain our forecast that only a financial disaster will motivate politicians to do the right thing and, in the meantime, they will continue to destroy the nation’s tax structure and spending habit.
And as Gerald Celente has said, “When all else fails, they take you to war,” and the U.S. is now at war with Iran, and we warn of a false flag attack that will unite the nation for full-out war with Iran.
Gold & Silver: Just Released!
To listen to Alasdair Macleod discuss what to expect in the coming weeks and months for gold, silver, miners, and oil CLICK HERE OR ON THE IMAGE BELOW.
ALSO RELEASED!
This Is Going To Create Another Massive Wave Of Inflation CLICK HERE.
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This Just Hit A 10-Year High And It Will Help Cement A Bottom For Gold CLICK HERE.
Look At Who Just Warned Gold Shorts Are About To Be Blindsided CLICK HERE.
ALERT: Gold Demand 5,000 Tonnes, But Gold Mine Output Only 3,672 Tonnes! CLICK HERE.
Michael Oliver – Despite Pullback, Silver Coiling To Rocket Higher CLICK HERE.
China Is Buying Massive Amounts Of Gold & Silver And Dumping Dollars CLICK HERE.
Gold And Gold Miners Have A Long Way To Go On The Upside CLICK HERE.
This Signals We Just Saw The Final Bottom In The Silver Market CLICK HERE.
Is This About To Make Gold & Silver Prices Soar? CLICK HERE.
Here Is Yet Another Upside Catalyst For The Gold Bull Market CLICK HERE.
Oil Surging As Gold & Silver Tumble. Here Is What Is Happening CLICK HERE.
Central Banks Expect Gold Price To Soar 32% By June 2027 CLICK HERE.
Michael Oliver – Big Money Watching These Key Levels In Silver CLICK HERE.
Roadmap Exposes Shocking $26,000-$75,000 Price Targets For Gold CLICK HERE.
Turk Warns We May Finally See The Long-Awaited Comex Default CLICK HERE.
Vault Run Continues As Comex Gold Inventory Plunges 30% CLICK HERE.
These Two Prices For Silver & Miners Will Confirm Historic Bottom Is In Place CLICK HERE.
MAJOR UPDATE RELEASED: Gold, Silver, And Black Gold CLICK HERE.
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