Trump Just Said Something about the U.S. Debt that Nobody Wants to Say… And It’s Got Some Americans Very, Very Worried…
Our nation’s president-elect is a businessman who understands debt. In fact, he calls himself “The King of Debt.” So when he talks about the mountain of U.S. debt (currently over $19 trillion!) it pays to listen.
To keep the government running, the U.S. must keep borrowing at faster and faster rates. And, in order for this to be possible, interest rates MUST remain low.
This is why Trump has publicly said that he’s in favor of continuing the Fed’s low interest rate policies, telling CNBC that without them, “We’re going to have some very major problems.”
How Might President Trump Handle the U.S. Debt?
According to Trump, he’d do the same as his predecessors: Print more money.
“People said I want to go and buy debt and default on debt… these people are crazy. This is the United States government… You never have to default because you print the money…“
Printing more money can postpone a national debt crisis – if interest rates remain low. But if rates go up, Trump knows there will be only TWO options:
Option #1: Washington defaults on its debt (like Puerto Rico just did).
Option #2: The Fed creates massive amounts of money to repay the debt, thereby hyper inflating (and rapidly devaluing) the U.S. dollar.
It’s a Catch-22 because neither option will be good for Americans.
What Trump’s Statements Mean for Gold…
Look, in the coming months, Trump will be forced to deal with the U.S. debt – soon to be $20 trillion.
And if the U.S. defaults on the debt or tries to hyper-inflate its way out of the problem, it’s going to make gold extremely attractive to the American public as a way to preserve savings.
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