Uncle Sam Embarrassed
“Trump’s Downgrade” Dear Reader, Today we’re going to cover issues like why ChatGPT’s creator wants your eyes, how the precious metals market is doing, the issues between crypto and the U.S. government and why China corners an important market. But first, Brian Maher will tell you about how the United States recently got a downgraded credit rating because of the projected fiscal deterioration over the next three years. Not to mention the repeated down-to-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills. Let’s dive in… | | | News: Brian Maher – Uncle Sam: Deadbeat The United States Treasury presently appears before the credit markets, on its knees, empty cup in hand. During the present quarter it expects to borrow over $1 trillion — to merely keep it in funds. During the next quarter it expects to borrow an additional $852 billion. These are borrowings so staggering they are usually associated with economic crises. Meantime, it’s projected that interest payments on United States government debt will exceed $1 trillion within the next two quarters. Is this the manifestation of fiscal responsibility? We really doubt it… ⇒ Read More Here | |
Politics: Chris Campbell – In Worldcoin We Trust Already, some 2 million people have scanned their eyeballs for money, mostly in Latin America, Afrida, Southeast Asia, and Europe. With the rise of AI, digital ID to differentiate humans from bots will become more and more popular. The digital revolution is underway. But that doesn’t have to spell doom for your privacy. ⇒ Read More Here | |
Retirement: Sean Ring – Monthly Asset Class Report “Commodities were rocking like a New Orleans brothel during Holy Week.” The commodities complex was up 7.7%, a staggering number for the month. And what’s more, gold and silver participated in the rally. Yesterday, gold again breached the $2,000 level, and silver is just under $25. Both shiny metals look strong. ⇒ Read More Here | |
Markets: Dave Gonigam – “What We’d Like You to Do Is Destroy Your Entire Business Model” Well, no wonder Coinbase couldn’t escape getting sued by the Securities and Exchange Commission. The SEC went after Coinbase in June, accusing it of trading in at least 13 crypto assets the agency considers “securities” and thus under the SEC’s purview. This week, Coinbase CEO Brian Armstrong told the Financial Times that before filing suit, the SEC asked the company to halt trading in all cryptos apart from Bitcoin. ⇒ Read More Here | |
America: Ray Blanco – China Looks To Corner Another Metal Market Our trade war with China added another chapter this week. Unlike with our ongoing Chip War with the People’s Republic, this time they’re looking to press the advantage in an area they’ve already built a big lead… Rare metals. The U.S. is desperately trying to play catchup in that area, with China controlling a majority of the market for many of the metals needed for clean energy solutions, like EV batteries and solar panels. ⇒ Read More Here | |
That’s all for today, we’ll be back tomorrow with what our editors have been looking at this week. There’s still time to ask anything you want addressed before tomorrow and we’ll address as much as we can. You can email us here with any questions or feedback. We look forward to hearing from you! Looking forward to your financial future, | | | | | |
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Keep a civil tongue.