The Next Gold Rush Is Here

You have been warned. The Biden – Yellen (BY) nightmare dream team will fulfill our worst fears of deficit spending, debt explosion, and dollar collapse.

Not that a Trump win would have been that much different since the die had already been cast long ago for the final decline of the current financial system.

And the BY duo will be the perfect team to lead the US economy and the rest of the world into perdition. Biden is already an experienced player in deficit spending and massive debt accumulation. And Yellen was there for part of the time printing whatever was required.

BIDEN YELLEN – SEASONED MONEY PRINTERS

Biden served as Vice President from 2009 to 2017. During those 8 years, US debt went from $10.7 trillion to $20t. That is a massive increase of 85% or $9.3t.

When Reagan became president in 1981, US debt was just under $930 billion. It took the combined efforts of Reagan, Bush Sr, Clinton, and Bush Jr 28 years to grow the US debt by $10t whilst Obama and Biden managed to grow it by almost the same amount in 8 years.

What we must remember is that the Great Financial Crisis was supposed to have been resolved in 2009. So there should not have been the same pressure to spend money freely when Obama and Biden came to power. But as good socialists Democrats, they threw frugality to the wind and spent recklessly.

The last three years of their reign, 2014-7 they had Yellen as an accomplice in her role as Chair of the Fed. So this is a team with deep experience in creating money out of thin air.

A REMARKABLE RECORD

When Trump took over in 2017 he had no intention of being outspent or outshone by any previous president. So Trump will have managed to increase the US debt by $8 trillion in just 4 years – a remarkable record!

I don’t believe that anyone back in 2017 forecasted that US debt would be $28t in January 2017, at the end of Trump’s four years. But that was very easy to forecast for anyone who studies history.

Since Reagan became president US debt has on average doubled every 8 years. Thus in an article a few years ago (US debt explosion & Weimar II) I forecasted a debt doubling to $40 trillion by early 2025 and $28t at the halfway mark in January 2021. No genius is required for such a forecast nor teams of analysts or economists with supercomputers.

A brief study of history combined with a simple extrapolation is all that is required. But alas that is much too simple a method to take any notice of.

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