Retirement Lifestyle Advocates
While every currency in the world is presently a fiat currency, this is a relatively new development in the slowly evolving world of currencies.
Over the first six months of the fiscal year, Federal Government spending totaled $3.6 trillion, up from $3.3 trillion from the same period last year.
Gold rallied 6.61% to new all-time highs, and silver advanced nearly 9% on the week.
The Dow Jones Industrial Average declined 7.86% last week, while the Standard and Poor’s 500 fell more than 9% in what was a very difficult week for stocks.
February’s job cut total is a 245% increase from January, when 49,795 job cuts were announced.
Economic challenges impacting our core consumers obviously means inflation.
At approximately $3000 per ounce, all the gold held collectively by the world’s central banks is worth about $3 trillion.
There are many economic data points that point to a recession this year.
All-in-all, consumer debt in the United States is now more than $18 trillion.
The deflationary pain will be more bearable if the credit card user voluntarily quits spending money they don’t have.