US National Debt Surges, Gold and Bitcoin Prices Soar
As the US national debt increases by $1 trillion every 100 days, investors turn to gold and Bitcoin, driving their prices to near all-time highs.
- The US is adding approximately $1 trillion to its national debt every 100 days, with the total debt now surpassing $34 trillion.
- Investors are increasingly turning to gold and Bitcoin as hedges against the US dollar's debasement, with both assets nearing all-time high prices.
- Gold prices have reached around $2,081, marking a 6% increase in the last six months, while Bitcoin has surged to $61,000, its highest level since November 2021.
- The surge in US debt is attributed to significant government spending, including military budgets and aid for overseas conflicts, which has cost 9.3% of GDP over the last four years.
- Economists warn that the rapid pace of borrowing could threaten the appeal of US government bonds and potentially lead to a partial government shutdown in March.