America's debt bomb

11.2.23 - America's debt bomb

Gold last traded at $1,985 an ounce. Silver at $22.75 an ounce.

$2,000 gold is just the beginning. Here's what might happen next - Sovereign Man

Will gold continue going up? We've already seen a 21% increase this year and it appears that's just the start for this new gold bull. Global tensions, both political and financial, are mounting by the day and are creating the perfect launchpad for soaring gold prices. Now is the perfect time to shore up your portfolio with physical metal.

by Simon Black

Public Law 93-373 was supposed to be so boring that Congress didn't even bother to give it a name.

You know how most laws passed by Congress have some fancy name- like the "Inflation Reduction Act" or the "USA PATRIOT Act" or some such nonsense?

Well, on November 7, 1973, US Senator James Fulbright introduced a very short bill- it was only ONE page- that didn't even have a name. But Fulbright's unnamed bill ended up being one of the most important pieces of legislation in US history.

By the time Fulbright introduced his bill, it had been two years since the legendary "Nixon Shock" of 1971. That was when US President Richard Nixon implemented wage and price controls, and canceled the US dollar's convertibility into gold.

Nixon famously promised the American public that there wouldn't be any negative consequences from his actions. Yet inflation hit 3% the following year, in 1972. Then 4.7% in 1973. Then 11.2% in 1974.