It's hard to understate just how unprecedented the scale of US fiscal stimulus is at the moment. Not only is the deficit massive for a non-crisis period, but its financing is almost entirely via very short-term issuance, which has never been the case before in a non-crisis time. pic.twitter.com/3mQWWPb7ds
— Robin Brooks (@robin_j_brooks) May 30, 2024
Debt concerns peaked in 1980s; globalization and low rates eased worries until now.
In the late 1980s and early 1990s, concern about the public debt reached its peak. The national debt clock was installed, and Ross Perot ran the most successful independent presidential campaign in the past century focused largely on debts and deficits.
But then China and the… pic.twitter.com/FvkTuNDsRk
— Lyn Alden (@LynAldenContact) May 30, 2024
Gold’s rising global reserve status challenges fiat currencies, notably surpassing the euro.
Gold Overtakes Euro in Global International Reserves
Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies. By the end of 2023 gold surpassed the euro and the… pic.twitter.com/KhM3zqq1Mw
— Jan Nieuwenhuijs (@JanGold_) May 30, 2024