Reasons for owning gold and silver
There are lots of reasons for owning gold and silver. The rising federal debt alone and a government that has abandoned fiscal responsibility could cause interest on the national debt to top $1 trillion in ten years.
According to The Committee for a Responsible Federal budget, interest on the national debt is the fastest growing item in the budget and will rise from $325 billion last year to $928 billion by 2029 — a nearly threefold increase.
Under the Alternative Fiscal Scenario, which assumes lawmakers extend the tax cuts and spending increases passed over the last two years, interest on the debt will exceed $1 trillion in a decade.
During this period, the federal government will spend more on interest than on Medicaid or children by 2020. By 2024, interest on the national debt will match defense spending.
If interest rates rise one point higher than projected, that will add an extra $1.9 trillion over ten years. And, don’t even think about interest rates “normalizing,” meaning interest rates on US Treasuries may return to something like 4% to 6%. That could happen if (when) inflation rears its ugly head.
Finally, the public debt is heading for the stratosphere and will hit 150% of GDP in the 2040s if there is never another recession The 150% of GDP could be attained in the early 2030s if the US economic once again succumbs to a cyclical contraction — as it has nearly two dozen times over the past two centuries.
When investing for the future, remember that gold and silver have been valued in all civilizations for more than 6,000 years. There is no reason to believe that will change any time soon.
Source: https://www.cmi-gold-silver.com/reasons-for-owning-gold-and-silver/
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