Dollar devalues as US hits debt ceiling, gold boom expected

Written by: Vasantha Cover.Metalnation.org NEWS

[{"selector":"#anim-9bdeacbb-ccf8-4a8e-baef-1361c7e0a4a5","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3ed0ed01-3a69-4290-a0ce-f697cdcb209a","keyframes":{"transform":["translate3d(117.82179%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org 2023 will likely see Wall Street traders rush to precious metals due to inflationary pressures and government default risks. Consumer prices are still 6.5% higher than last year, according to the latest inflation data.

[{"selector":"#anim-5a797a49-7722-42c7-bf75-55d98fc7c0af","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cf3cba5b-dc6e-4c7c-a385-784f3151007c","keyframes":{"transform":["translate3d(117.49175%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org A plummeting stock market pushed the major U.S. benchmarks even lower, while the U.S. dollar fell to just $0.81 of the British Pound and $0.92 of the Euro in the last three months.

[{"selector":"#anim-c3154f83-f598-4b2a-b0f5-d72c19beb12a","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8f644ac-bcd4-472f-b74d-409d592db3d9","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org Genesis Gold Group CEO Jonathan Rose told FOX Business that "a devaluing dollar, inflation, and other federal government monetary policies" are driving gains in the precious metals market."

[{"selector":"#anim-3b5a82bc-cbcf-4e61-bcd4-a412da9b7e73","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0c88d696-bd10-4ac1-9b6a-2c22427cab0e","keyframes":{"transform":["translate3d(115.51156%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org It is clear to everyone that government expenditures have a major impact on our country's economy, and now our government may default on its obligations."

[{"selector":"#anim-3a0ee245-e68a-41ef-889d-3b7fe1cab488","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a6c4e223-d2aa-47fc-b88e-bbf6538db078","keyframes":{"transform":["translate3d(117.49175%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org ". If the federal government defaults on its loans, it will destroy whatever investor faith might be left in the U.S. dollar and weaken it dramatically."

[{"selector":"#anim-bef5bade-3fad-4bd5-a824-5611c7555d06","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-db1d11a4-715f-4fdd-a474-601b46cbf406","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org "This environment creates a strong case for allocating funds to physical precious metals," he added.

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