In The News Today

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Bill Holter’s Commentary

A Friday dose of Erik for you.

The United States Has No Leg To Stand On (On Ethics)_001

The United States Has No Leg To Stand On (On Ethics)_002

Bill Holter’s Commentary

Do you understand what this means? Please read this thoroughly twice and then sit down with your favorite adult beverage to ponder the ramifications…GOT GOLD?

Goldman Spots A Huge Problem For The Fed
May 15, 2020

Last week, the Treasury shocked the world when it announced that in the current quarter (the 3rd of the fiscal year), the US will need to sell a mindblowing, record $3 trillion (pardon, $2.999 trillion) in Treasurys to finance the US money helicopter.

Treasury issuance 5.4.2020_1

This, after selling $807 billion in the first half of the fiscal year, and another $677 billion in the quarter ending Sept 30.

And since it is just a matter of time before Congress has to pass yet another fiscal package which will be at least another trillion dollars, and up to $3 trillion if the Democrats get their wish, one can say that Guggenheim’s projection of over $5 trillion in debt issuance this calendar year will be wildly conservative.