Gold Falls 0.7%, but $40 Trillion US Debt Keeps the Bull Case Alive - Crux Investor
Gold Falls 0.7%, but $40 Trillion US Debt Keeps the Bull Case Alive - Crux Investor
Source: Crux Investor
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DW NOTE
The $40 trillion figure is nominal debt outstanding. The part that actually matters — the trajectory — is the $1.9 trillion deficit this fiscal year, or 6% of GDP. That's not a bull case for gold, it's the reason gold exists: governments printing claims on future value they have no intention of producing.