REPORT: Two commodities expected to boom as US hits debt ceiling, dollar devalues

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:

Ongoing inflationary pressures and increasing risk the federal government could default on its loans will likely see Wall Street traders rush to precious metals in 2023.

The U.S. hit its $31.4 trillion debt ceiling on Thursday, after the latest inflation data showed consumer prices still 6.5% higher on an annual basis.

Meanwhile, gold and silver jumped roughly 15% and 21%, respectively, the last three months, as plummeting stocks pulled the major U.S. benchmarks even lower, and the U.S. dollar slumped to just $0.81 of the British Pound and just $0.92 of the Euro.

Fox Business quoted Jonathan Rose, CEO of Genesis Gold Group, who warned in an interview, “The primary driving force behind gains in the precious metals market are a devaluing US dollar, inflation, and other federal government monetary policies.”

“Anyone can see that government spending is a major problem for our country’s economic health, and now our government is at risk of defaulting on its bills. If the federal government defaults on its loans, it will destroy whatever investor faith might be left in the U.S. dollar and weaken it dramatically,” Rose added.

“This environment creates a strong case for allocating funds to physical precious metals,” he suggested.

Robert Kiyosaki, a successful entrepreneur, investor, public speaker and author, tweeted last week, “Bitcoin, Gold, Silver, and oil moving up in price. Good news for those that know inflation is permanent…now systemic…not transitory. Bad news for the uninformed, poor, middle class… anyone who believes Biden cares about them and their families. Biden does not care about you.”

To get more information about this article, please visit FOXBUSINESS.COM.

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  1. I cannot believe that we the people is allowing this. I hope every Biden lover burns in hell right along with Biden and his administration. Anyone who voted for this fool should be ashamed of themselves

  2. The problem is the Fed – you know that (not) Federal (not) Reserve private institution that controls the money supply? They are responsible and their years of QE – quantitative easing – that kept printing more and more money. It’s not about the current administration. The Trump administration wracked up trillions of debt too. Look it up. The only real solution as Dr Ron Paul, former Congressman has been saying for years is to (audit) but ultimately disband the Fed. It’s criminal. After that then the IRS should be next. There was no tax collection before the creation of the Fed in 1913.


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