The Two Mikes again benefited as will our listeners from a discussion with Ira, www.ourgoldguy.com
During our talk, Ira made it clear that the economic downturn that Americans now find clawing to the very bottom of their wallets and purses is entirely the result of deliberate actions taken in the past year by the Biden Administration.
Of the multiple disasters it has imposed on the American economy, the administration’s demolition of the country’s energy independence is the vital cog in producing our developing economic nightmare.
While Biden and his gang claim that inflation is at an annual rate of 7-percent, anyone who uses energy knows that it is significantly higher than that, as does anyone who shops for groceries, takes an occasional meal in a restaurant, or seeks to buy a used car.
Ira reminded us that the U.S. economy is a fossil-fuel driven economy and will be for quite a long time into the future.
He also noted that the world’s central bankers appear to believe that inflation is still rising quickly, given that in 2021 nation-state governments purchased 20-percent of all gold products in order to create a safe haven for themselves — gold is now within ten-percent of its all-time high — as well as to try to stabilize their economies in the face of the ongoing depreciation of the U.S. dollar.
As long as Biden’s war on energy independence continues inflation will continue to rise; the administration intended from its inauguration to fuel inflation and knew from day one that it would never be “transitory”.
The next big attack on the U.S. economy is likely to be the raising of interest rates by the Federal Reserve, and/or another batch of insane spending bills that will add to a national debt that now stands at $30 trillion dollars.
Please listen to the entire show.
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