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STUNNING U.S. GOVERNMENT DEBT INCREASE IN PAST FEW DAYS

As the stock market continues to rise on the back of some of the worst geopolitical, financial, and domestic news, the U.S. Treasury has been quietly increasing the amount of government debt, with virtually no coverage by the Mainstream or Alternative Media. So, how much has the U.S. debt increased in the past few days? A bunch. The surge in U.S. debt that took place over the past two days all started when the debt ceiling limit was officially allowed to increase on Sept 8th. In just one day, the U.S. Treasury increased the public debt by $ 318 billion: […]

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The U.S. Government Massive ONE-DAY Debt Increase Impact

The U.S. Government’s massive one-day debt increase had a profound impact on the amount of money it will have to fork over just to service its interest payment. On Friday, Sept 9th, the U.S. Treasury increased the total debt by a stunning $ 318 billion. Thus, the total U.S. Government debt increased from $ 19.84 trillion on Thursday to $ 20.16 trillion on Friday. We must remember when the U.S Treasury adds more debt to its balance sheet; the government is now obligated to pay additional funds to service the interest on that debt. So, for each increase in U.S. […]

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Song Xin: Increase Gold Reserves And Join SDR.

BullionStar The Chairman of the China Gold Association and General Manager and Party Committee Secretary of China National Gold Group Corporation, the latter being China’s largest gold mining enterprise, is Song Xin and happens to be one of my favorite commentators in China. This gentleman made waves in July 2014 when he candidly wrote on Sina Finance that the People’ Bank Of China (PBOC) should slowly raise its official gold reserves to 8,500 tonnes, more than what the US Treasury claims to hold. The article was published in Chinese but translated by BullionStar to share the views by Song Xin […]

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Russia’s VTB Bank Joins As SGE Member. Chinese Direct Gold Imports Increase

BullionStar Another strong week for gold demand at the Shanghai Gold Exchange – China’s main physical gold bourse. From 19 until 23 October 57 tonnes have been withdrawn from the vaults of the Shanghai Gold Exchange (SGE), according to data released on Friday by the SGE. Year to date 2,119 tonnes have been withdrawn. With a little over two months left in 2015 SGE withdrawals, which capture the amount of Chinese wholesale gold demand, are set to reach more than 2,500 tonnes in 2015, breaking the record of 2013 at 2,197 tonnes. SGE withdrawals have made a spectacular run up this […]

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Top Earners Beware: A Tax Increase to 50% Is on the Cards!

There has been one book after the next on the issue of wealth and income inequality. The latest is Inequality: What Can Be Done by Anthony Atkinson, where he argues this is an issue that cannot be left to the market, but one that requires political debate and action. Indeed, even Republicans are talking about these issues. And Democratic candidates Bernie Sanders and Hillary Clinton are especially hitting it hard (even though Hillary epitomizes the 1%). Books like Capital in the Twenty-First Century by Thomas Picketty delivered a number of broad strokes on the topic. Still, they’ve come at the […]

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