US GOVT interest payments will be 1.6 trillion by Dec. 2024If the Federal Reserve keeps rates steady for the rest of the year, that is, they don't pivot, the US Govt will be paying 1.6 trillion dollars just on the interest payments alone by December of this year...
This is a catastrophe unfolding before our very eyes. With so much of the tax revenue being spent just on interest payments alone, the US is going to have to lay off millions of govt workers/ cut funding to many programs or they willl need to borrow many more new trillions of US dollars to keep the " company" operating.
To further complicate matters, the US economy is falling off a cliff, which means tax revenues are going to drop significantly leading to an even greater need to borrow ( print money) to make ends meet.
The Fed is stuck between a rock and a hard place. If they don't cut rates soon , they will cause a depression. But if they do cut rates now, inflation will erupt again causing super hardships on the citizens of the USA.
We are in the early stages of a full blown financial/currency crisis, that will utterly lead to the destruction of the United States..
They will need to print trillions to keep the problems under control. Gold and silver should do very well in the coming weeks/months/years of very high inflation.. Homelessness is going to sky-rocket...Crime and civil unrest are also going to sky-rocket..
We might finally see that moon-shot for gold and silver this year..