U.S. Debt Should Double Within 7 Years – Gold Could Soar
The editor of Gold Newsletter, President and CEO of Jefferson Financial, Brien Lundin, said at the New Orleans Investment Conference in 2017 that historically, over the period of an eight-year term by a President, the Federal debt doubles.
If that’s how it ends up this time around, it suggests the existing $20 trillion U.S. debt load will jump to $40 trillion in approximately seven years.
The reality is raising taxes and cutting government spending has no chance of dealing with growing unfunded liabilities, even if there were to be government cuts in spending, which there won’t be. As of now, unfunded liabilities in the U.S. are over $200 trillion. That isn’t a misprint, I do mean estimates are over $200 trillion, with a “t”.
when it smoke clears, it means a major depreciation of the U.S. dollar, which will support precious metals in general, and gold in particular. Lundin concludes that the increase in the price of gold and other precious metals is guaranteed to be the outcome.