Why Aren't Gold Prices Rising? Understanding the Fed, BRICS, & US Overspending | The Gold Spot
As the House of Representatives succumbs to infighting over the speakership, it's easy to overlook the central issue at stake: government overspending. Many view the slim majority held by Republicans as the sole safeguard against another spending spree from the Biden admin.
Last week, US debt shot past $33 trillion and another approved spending bill only enables the relentless printing-spending cycle. Countries around the world are embracing de-dollarization as the government’s inability to exercise fiscal discipline is deteriorating the US reputation as a reliable economic partner.
With mounting economic pressures, many investors have expected stronger performance from gold and other precious metals. Unfortunately, gold prices have remained relatively stagnant. It’s important to keep in mind that the Federal Reserve’s strict interest rate policies often delay the negative effects of weak markets.
While the government batters the economy at home, the BRICS nations continue to ramp up their threats against US hegemony. The rise of a potential gold-backed BRICS currency would directly rival the dollar, and the recent inclusion of OPEC countries such as Saudi Arabia and the UAE further alienate the US.
Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Founder Eric Sepanek and Advisor Quentin Spillane explain why gold prices are down, why the BRICS nations are still a threat, and where investors can look to protect their wealth.
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Links to our FREE Exposure Reports:
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🛢️ Petrodollar Report: https://www.sbcgold.com/petrodollar-report/?utm_source=rumble&utm_medium=video&utm_campaign=gspot_rmbl
🏦 CBDC Report: https://www.sbcgold.com/free-report-digital-currency/?utm_source=rumble&utm_medium=video&utm_campaign=gspot_rmbl
📈 See Live Gold and Silver Spot Prices:
https://www.sbcgold.com/charts/
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