US Debt | The Gold Standard #2107

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The Problem with the US Debt

Relative to the size of the national economy, the US debt is larger than at any time since the end of World War II. Debt is a problem that has no end in sight and is expected to climb from 75% of the Gross Domestic Product to over 120% by 2040. The burden of out-of-control debt increases the risk of financial crisis including a severe devaluation.

In this episode of The Gold Standard, Dave Deno and Ken Russo, Sr. VP of the Midas Gold Group, talk about the national debt and the urgency for you to safeguard your wealth. Ken explains how history has shown what happens to civilizations that continue down the path of runaway spending, excessive printing, and debasing of fiat currency. Fiscal irresponsibility has brought down the most powerful empires that have ever existed.

Why Does the US Debt Matter?

Ken Russo explains how the experiment has failed. Soon they'll have to come up with some other plan. Is a digital currency an alternative to national currency? It's a startling question with staggering implications.

• Rising federal debt reduces our flexibility to plan for and respond to an urgent crisis
• Growing interest costs make it harder to invest in the future
• Citizens face emerging and ongoing challenges that will require resources to keep going
• Borrowing more reduces options for the next generation. Your grandchildren and their children are going to be struggling with the untenable debt load which we created for them.

Fiscal Responsibility is About Preparedness

What will be the next major test that our nation faces? Will it be an economic downturn, a national security threat, or some other crisis? There’s no way of knowing, but we must prepare, and preparation starts at home. The bottom line, each of us must do what we can to protect our buying power. That’s the message Ken Russo wants everyone to hear. Physical gold and silver is the most reliable form of money. It will always be there when you need it.

What Steps Can You Take to Prepare for the Coming Storm?

Our government must address the fiscal challenges and put our debt on a sustainable path. Being fiscally responsible is the only way we can get ahead of the problem and start planning proactively. We will not get out of debt by issuing more debt which has been the course of action for decades. As Ken Russo points out early in the discussion, Ronald Regan adopted a national debt of $900 Billion. President Biden inherited $28 Trillion. The government continues to spend more than it brings in. For this reason, people must act now to protect their wealth from the corrosive effects of inflation.

Remember, it is not too late to start taking steps to preserve your buying power. For 11 years, the Midas Gold Group has protected clients and is the top veteran-owned precious metals dealer.

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