Sunday, October 6, 2024

Moody’s Lowers US Credit Outlook to “Negative”

by Michael Maharrey, Schiff Gold:

Mainstream media pundits and politicians generally act unconcerned about the skyrocketing national debt and ever-growing budget deficits, but somebody has taken notice.

On Friday, Moody’s Investor Service lowered its outlook on US government credit from “stable” to “negative.” This could be a prelude to a downgrade in the country’s AAA credit rating. The agency typically resolves an outlook by either revising it back to stable or executing an actual downgrade within 18 to 24 months.

Sovereign Debt is Eating the World

by Peter St. Onge, Activist Post:

Sovereign debt is eating the world. Lining up a financial crash that could make 2008 look like a picnic.

How did we get here?

In short, governments and central banks deluded themselves into thinking that unlimited deficit spending financed by unlimited money printing won’t do what they’ve done for literally millennia — plunge the economy into stagflation.

They are, of course, wrong. And we’re seeing the catastrophe unfold before our eyes.

How Central Banks Can Use Gold Revaluation Accounts in Times of Financial Stress

by Jan Nieuwenhuijs, Gold Seek:

Because central banks are the root of the modern money tree, they can use entries in their gold revaluation accounts to turn into capital, pay for expenses, or transfer it to their respective Treasuries. In addition, gold revaluation accounts can be used to cancel government bonds held on central bank balance sheets to lower the public debt.

Multiple large central banks are currently operating at a loss while public debt levels are elevated. In this article we will examine how central banks’ gold revaluation accounts can offer solace in these challenging financial environments. Central banks’ accounting rules are but fictional obstacles, as these are self-imposed and can be discarded.

AND SO IT BEGINS

by Jim Quinn, The Burning Platform:

What fool would buy 30 Year US Treasuries when the US is adding $2 trillion per year to the national debt? The US has to issue debt to pay the $1 trillion in annual interest on the existing debt. It is like you running a $50,000 balance on your credit card and adding $10,000 to your balance in order to pay the $10,000 in annual interest on the credit card. This is unsustainable. That which is not sustainable will not be sustained. When they pull back the curtain, will you be ready?

GOLD DEMAND CONTINUES TO SOAR IN CHINA

from Arcadia Economics:

TRUTH LIVES on at https://sgtreport.tv/

Silver Demand in Three Key Sectors Expected to Nearly Double in the Next Decade

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by Peter Schiff, Schiff Gold:

Silver demand for industrial applications, jewelry production and silverware fabrication is expected to nearly double over the next 10 years.

According to a report by Oxford Economics commissioned by the Silver Institute, the demand in these three sectors is forecast to increase by 42% between 2023 and 2033.

Industrial, jewelry and silverware production account for about three-quarters of total silver demand.

Banking Crisis Coming, War Coming, More CV19 Vax Death Coming

by Greg Hunter, USA Watchdog:

Big banks are in trouble, but you are not going to hear about it until it’s too late. Banks are losing deposits at an alarming rate.  Meanwhile, they have big losses on the books because of rising interest rates. This is all causing the biggest liquidity problems since the Great Recession. In other words, the banks need money to cover losses and conduct business.  Record government interest payments mean Washington does not have the money for a bailout. The problem is not going to get better anytime soon, and it is getting worse by the day. You have been warned.

New bombings are taking place in the Middle East, and we are not talking about the Israeli/Hamas war. This bombing is taking place in Syria by the U.S. Airforce. This is to punish and degrade Iran proxies who have attacked American Troops 46 times in the last few weeks. An enemy weapon storage facility was blown up, but further attacks against U.S. forces keep coming. 56 soldiers have been wounded in these attacks. Secretary Lloyd Austin says he does not want “escalation,” but that is exactly what he is getting from Iran.

EU Pushes CBDC-Linked ‘Digital Identity’ for All Citizens

by Frank Bergman, Slay News:

The European Union (EU) is advancing plans to introduce a new “Digital Identity” that will be directly linked to a central bank digital currency (CBDC), a top Euro official has revealed.

The plan was exposed Wednesday on social media by Dutch Member of the European Parliament Rob Roos.

Roos posted a video on Twitter/X to reveal the outcome of a closed-door meeting between top Eurocrats about the plan to roll out the system to the public.

Endgame: Interest On US Debt Skyrockets Above $1 Trillion For The First Time Ever

from ZeroHedge:

Back in July, when we last looked at the unprecedented horror show that is the US budget deficit – and concluded correctly, long before the Q2 Quarterly Refunding Announcement,  that debt issuance was about to explode and yields would soar – we warned that the debt Rubicon was about to be crossed and “US Debt Interest Payments Are About To Hit $1 Trillion.”

Fast forward to today when the endgame has apparently arrived: according to the Treasury’s own calculations, total interest is now over $1 trillion (or $1.027 trillion to be precise).

Bloomberg: U.S. Debt Interest Bill Soars Past $1 Trillion a Year

by John Carney, Breitbart:

The combination of high levels of debt and higher interest rates has pushed the annualized interest cost of government debt past $1 trillion, an analysis from Bloomberg showed Tuesday.

This amounts to a doubling of interest costs over the past 19 months, according to Bloomberg. It is the equivalent of 15.9 percent of the Federal budget for fiscal year 2022.

Bloomberg reports:

Why Are Online Banking Services Suddenly Being Disrupted All Over The United States?

by Mac Slavo, SHTF Plan:

Should we be concerned about all of the problems that are suddenly erupting at our banks?  U.S. banks have been shutting down hundreds of branches, they have been laying off thousands of workers, and as I discussed yesterday vast numbers of customer accounts are being unceremoniously shut down without any warning whatsoever.  If all of that wasn’t bad enough, now endless “glitches” are plaguing our banking system.  For example, the glitch that caused paychecks not to be deposited at many banks on Friday still has not been fully resolved

PBoC in a Hurry to Buy Gold: Covertly Bought 593t of Gold YTD

by Jan Nieuwenhuijs, Gainesville Coins:

The PBoC is in a hurry to buy enormous amounts of gold, indicating it’s preparing for substantial changes in the dollar-centric international monetary system.

Based on information from industry sources and my personal calculations, total gold purchases by the Chinese central bank (reported and unreported) in Q3 accounted for 179 tonnes. Year-to-date the PBoC bought 593 tonnes, which is 80% more than what it bought in the first three quarters last year. Its total estimated gold holdings are 5,220 tonnes, more than twice what’s officially disclosed at 2,192 tonnes.

Central Bank & The Taking of Assets?

by Martin Armstrong, Armstrong Economics:

I will be covering this in detail at the WEC in a couple of weeks. We are getting the same Conspiracy Theories regurgitated and twisted around. People are asking what is real and what is not. Suffice it to say, when you buy shares and leave them at the brokerage house, they remain in THEIR name – not yours. They are in STREET NAME, and that is why I have for years suggested you take delivery the same you would do with gold.