GOLD 0.51% $1,391.7 gold futures

gold, page-61

  1. 6,892 Posts.
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    Interesting but, while the writers were trying to be clever with facts they forgot about common sense and the U.S tax payer who also happens to vote.

    One of the U.S. government’s assets is its ability to tax the U.S. economy for revenue. The national debt -- which includes debt held by the public and money owed to other branches of the government -- is only equal to about six years’ worth of tax revenue.
    If the U.S. devoted a fifth of tax revenue to paying down the entire national debt, it would take 30 years to do it.

    That’s not insolvency."

    So the US government will just magically take 20% of it's tax revenue and pay off the debt in 30 years?

    -This from a government the spends more then it takes in every year?
    -If the US government tries to raise taxes there are riots and politicians don't get re-elected.
    -If the US government tries to cut spending there are riots and politicians don't get re-elected.
    -It might take the US government 20-30 years JUST to balance the budget...let alone start to pay it off and that's if there's no wars and any other money crisis in the US or around the world. concerns there.

    No...I think gold is going up....a LOT.

    If you need to find me I'll be over there...standing next to chicken little looking up with a umbrella made out of gold.
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