“Difficulties strengthen the mind, as labor does the body.”
~ Seneca
It’s coming.
No, not doom and gloom.
A “new economic golden age.”
From the American Dream lived and won to delivering blessings to the masses…
Scott Bessant is the man to do it.
He’s Trump’s new pick to run the US Treasury.
Axios reports on why you shouldn’t be too skeptical:
Trump’s Treasury pick to tout “new economic golden age”
“Scott Bessent, President-elect Trump’s pick for Treasury, will tell the Senate Finance Committee at his confirmation hearing Thursday that he sees “a generational opportunity to unleash a new economic golden age that will create more jobs, wealth and prosperity for all Americans.
“I was born and raised in the South Carolina Low Country,” Bessent is planning to tell the committee in his opening statement, shared with Axios. “My father fell into extreme financial difficulty when I was young. When I was 9 years old, I started working two summer jobs and I haven’t stopped working since.”
“My life has been the ‘only in America’ story that I am determined to preserve for future generations.”
He’s truly lived the American Dream, but can he do it for a country…
For the US dollar?
Bessant, who’s made a career out of witnessing George Soros’s big bet on the devaluation of the British Pound, is making the US dollar his number one priority.
He’s worked in several hedge funds, winning his biggest bets, using the same kind of billion dollar trade he saw Soros pull off years earlier.
Yet, all the data points toward overwhelming federal debt, interest payments, and skyrocketing social security costs weighing the world economy down.
Bessant, and the rest of the Trump entourage have serious work to do before they can pull off a “new economic golden age.”
But maybe, they won’t have too.
Maybe a new golden age will simply come because of sound money’s natural attractiveness.
Inflation isn’t going away.
Neither are higher yield curves.
Yet, gold prices keep on rising…
Bloomberg reports:
Gold Gains After US Inflation Data Boosts Rate-Cut Optimism
“Gold climbed to the highest in a month after a surprise slowdown in US inflation revived expectations for Federal Reserve rate cuts this year.
Bullion traded at over $2,700 an ounce after the consumer price index — which excludes food and energy costs — rose 0.2% following four months of 0.3% gains. That signaled US officials may have room to ease policy sooner than previously thought.”
Gold keeps pushing over $2700.
As I write this, it’s at $2,716.
And, I’m willing to bet it will keep rising.
Dave Skarica predicted this last year…
He predicted interest rates dropping and gold shooting up.
He predicted volatility.
He predicted uncertainty and chaos coming during a “peaceful transition of power,” which equals serious wealth protection for those holding gold, and gold stocks.
You can see what’s happening, and what will most likely happen with prices in the near, and long-term. For gold (and your savings account) that is…
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