The Golden Solution to America’s Debt Crisis

Daily Reckoning/James Rickards/09-15-17

Right now, the United States is officially $20 trillion in debt. Over half of that $20 trillion was added over the past decade.

And it looks like annual deficits will be at the trillion dollar level sooner than later when projected spending is factored in.

Basically, the United States is going broke.

…There’s only one solution left, inflation.

PG View: Despite massive and extraordinary efforts totaling in excess of $4 trillion, the Fed has failed to generate even 2% inflation. What does Rickards suggest? “The Fed can call a board meeting, vote on a new policy, walk outside and announce to the world that effective immediately, the price of gold is $5,000 per ounce,” says Rickards. Voila! Massive inflation.

“History shows that raising the dollar price of gold is the quickest way to cause general inflation. If the markets don’t do it, the government can. It works every time.” — James Rickards
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