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The U.S. National Debt is Completely Out of Control. Oh Well? - Nathan McDonald (01/03/2019)

The U.S. National Debt is Completely Out of Control. Oh Well? - Nathan McDonald (01/03/2019)
By Nathan McDonald 1 years ago 6352 Views 1 comment

March 1, 2019

The U.S. National Debt recently blew past the $22 trillion mark, to the shock and amazement of...

Almost no one.

Although there remains a minority of individuals who are concerned about the exploding debt level, they are a shrinking minority, as more and more people are simply content to drift into blissful ignorance, disregarding the alarm bells going off all around us.

To many, especially the millennial and younger generations, the creation of money is just as mysterious as electricity or the internet. It simply is, and it has always been.

Too few now remember when honest money reigned and governments were forced to be fiscally responsible due to the checks and balances that the gold standard placed on them.

Sadly, $22 trillion is just the start, as the unfunded liabilities that the United States now owes stands at a truly ghastly number, $122 trillion.

And the U.S. isn’t alone. Countless "established" countries around the world find themselves deeply in debt, with no chance of ever "digging" themselves out.

For years, I have pointed out these increasing debt levels. For years, I and many others have been ignored. And sadly, I fear that we have now crossed the Rubicon and there is no going back.

What cannot be repaid will not be repaid. Remember these words.

This is the reality we now live in: a world where debt levels, at least in the short term, simply do not matter… until they do.

We are in one massive shell game, and those playing the game know that it is rigged, but have no choice but to continue with their participation.

To upset this never-ending cycle of fiat money creation would mean to end our current fiscal way of life, sending the world spinning out of control towards a massive financial disaster as the system attempts to right itself.

Make no doubt about it: this would lead to war on a grand scale.

For those who worry about this scenario, you can rest easy, at least for the short term.

The financial elites simply have too much skin in the game, and much to my surprise, they have been able to keep this coyote at bay for much longer than I and many others could have ever guessed.

Although I believe it is too late to correct the disastrous course we now find ourselves on, that does not mean you should simply sit on your hands, waiting for the drop to occur.

Action is needed, and it is needed now more than ever. You will only have yourself to blame if you are caught unprepared, because the warning signs are all around us.

Fortunately, at least some are taking notice.

As predicted, silver, the money of the people, is on the move, once again playing catch up with the yellow metal.

In fact, the accumulation of silver has been so intense in the past few months that the U.S. Mint has had to temporary suspend the sale of Silver Eagles, due to fierce demand.

According to a recent statement by the U.S. Mint, Silver Eagle sales were 2,057,500 ounces in the month of February versus the 942,500 ounces during the same month in 2018. A staggering 118% increase.

Are people finally waking up? Or are these moves being made by a few key players?

As I have written about in a recent article, moves are already being made by those pulling the strings behind the curtain, as Central Bankers and other government entities have begun to rapidly move into gold bullion, causing one of the most dramatic periods of accumulation that we have seen in decades.

The countries partaking in this action know that precious metals and "big guns" are ultimately what will get them through the next financial crisis. A crisis that is not an "if", but a "when".

Hopefully, the "big guns" will not be needed and the precious metals will do the talking, restoring fiscal sanity in a world where fiat money has run amok for far too long.

One can hope. But in the mean time, one can stack.

Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world. He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.You may copy, link to or quote from the above for your use only, provided that proper attribution to the source and author is given and you do not modify the content. Click Here to read our Article Syndication Policy.

Steven Edger 1 years ago at 2:53 PM
Hello Nathan,
I've got a friend and both of us put the Unfunded liabilities of the US at over 200 trillion. Included in those calculations Military pensions, and Health care, All civil servants Pensions, All Medicaid, Medicare Payments, All Social Security payments. I've probably left some out .

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