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Craig Hemke at Sprott Money: Social Security deficit will be monetized
12:43p ET Monday, June 11, 2018
Dear Friend of GATA and Gold:
Since the U.S. government is not likely to have the political fortitude to cover the projected Social Security and Medicare revenue deficits with tax increases or benefit reductions, the TF Metals Report's Craig Hemke writes today that the deficits will be monetized, leading to more devaluation of the U.S. dollar. Against devaluation, Hemke writes, the monetary metals already are offering outstanding protection in places like Brazil and Turkey.
Hemke's analysis is headlined "The Volcano of Debt" and it's posted at Sprott Money here:
https://www.sprottmoney.com/Blog/the-volcano-of-debt-craig-hemke-gold-an...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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