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Source: Operation Disclosure Official | By David Lifschultz, Contributing Writer
Submitted on December 20, 2023
THE DOLLAR, GOLD, SILVER AND TWENTY MILLION IMMIGRANTS
Compliments of The Lifschultz Organization, Founded in 1899
The US financial system continues to deteriorate led by budget deficits of 1.375 trillion dollars in 2022. Total US revenue was nearly five trillion in 2022. 2023 US budget deficit is estimated to be over 1.7 trillion dollars comparing to five trillion in revenue in 2022. It is difficult for the Federal Reserve to maintain discipline confronted with this massive and growing budget deficit and out of fear of the whole ship capsizing they have decided to ease credit to maintain its growth rate of 5.2% in the last quarter next year despite a Fed member walking it back a bit for public consumption. If this US growth rate is maintained it is conceivable that the US could grow itself out of its mess if the US could exercise a modicum of financial discipline. This would require restraint in future growth of expenses below the growth rate at the very least.
Since the Ukraine War is utterly unproductive and wrong-headed as we have already covered in detail there is an expense here that can be eliminated. Also the funding of over 20 million illegal immigrants that the US is now supporting must be ended by their total expulsion. The first remedy would be to outlaw with large fines for any party transferring the funds for illegal immigrants to their families abroad as they are supporting in around half the cases their families in other countries by their US income. If that is cut off they would have to immediately go home to support their families. There would be huge fines for anyone who employs an illegal immigrant. The illegal immigrants would have no choice but to leave and they would be given thirty days to do so or otherwise they would be arrested.
The trade deficit can be cured by ending dirty floats. This is described in the next link in which the correspondence between myself and the then Secretary of the Treasury Robert Rubin is shown. Foreign countries that bought dollars as part of a currency rig would have to sell them over a given time span on the open market to end their artificial competitive advantage. A clean and honest float provides a corrective mechanism for trade deficits.
Robert Rubin Correspondence – David Lifschultz
Those countries who do not cooperate in free trade would be tariffed out of the US. This would wipe out the deficits listed next by creating US trade surpluses. Dirty floats would be illegal.
- U.S. trade balance for 2021 was $-861.71B, a 37.32% increase from 2020.
- U.S. trade balance for 2020 was $-627.50B, a 8.42% increase from 2019.
- U.S. trade balance for 2019 was $-578.79B, a 2.41% decline from 2018.
- U.S. trade balance for 2018 was $-593.08B, a 10.5% increase from 2017.
The 2022 trade balance was minus 945.32B.
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Central banks have been buying gold as the US trade deficit deteriorates. The central banks do not buy silver to my knowledge. The seizure by some central banks of Russian assets is a warning to other central banks that if they do not tow the US line their assets may be also frozen. This also influences the purchase of gold.
Global central banks posted their largest ever annual purchase of gold in 2022 — an estimated 1,083 metric tons. And the buying spree has continued, with 387 metric tons of net gold purchased in the first half of 2023.
The US net deficit position on their foreign account is around 18 trillion and the US trade deficit is nearly a trillion dollars in 2022.
J.P. Morgan stated in his testimony before Congress in 1912, “Gold is money. Everything else is credit.”
A return to the gold standard would be a first step in creating a sound currency. My interest in investing in gold is not to make money but to preserve the value of my work.
I would say gold and silver are both good investments as each has their own positive characteristics at this time but gold is money. The photovoltaic and industrial demand for silver unlike gold gives it an extra boost in rising economies over gold and I agree with you in this. However, gold has other factors as outlined above that make it a positive investment.
I end with the warning of Voltaire:
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Voltaire famously said, ‘Fiat currency always eventually returns to its intrinsic value–zero.’
The United States had half the world GDP in 1945 and was an industrial giant. It is time to bring back all the US industries shipped overseas engineered by dirty floats.
David Lifschultz
THE LIFSCHULTZ ORGANIZATION
DAVID@LIFSCHULTZORGANIZATION.COM
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