In the wake of the first 2024 presidential debate, investors are taking a sober look at the state of the economy and the future of the US dollar. We’re far up the debt stream with no plan in sight to paddle toward recovery.

In this week’s The Gold Spot, Scottsdale Bullion & Coin Founder Eric Sepanek and Sr. Precious Metals Advisor Steve Rand discuss the politics of debt, the biggest threat to USD, and why a solution isn’t around the corner.

The Worst Presidential Debate Ever?

Voters were anxious in the run-up to the first presidential debate given the tensions surrounding the 2024 election. After the spectacle, however, those nerves have shifted to nausea.

Instead of a results-driven discussion about the nation’s most pressing issues, we were treated to two hours of finger-pointing and name-calling. This comes when the United States is reaching one of the most pivotal moments politically, economically, and culturally in the country’s history.

The BRICS Unite Against the Dollar

President Biden and former President Trump were able to sneak a few economic talking points between personal attacks but nothing that rises to the occasion. Right now, the US dollar faces its most serious threat: the BRICS nations.

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This collection of rapidly growing economies is creating an economic block (possibly with its own BRICS currency) to topple the US dollar. Despite this grave threat, very few in the political class – on the left or right – is making a peep about it.

“This could be the biggest shift in economic history.” – SBC Founder Eric Sepanek

The Modern Monetary Theory “Solution”

It’s tempting to sweep this under the “politicians-will-be-politicians” rug, but there’s a more nefarious force at play. As we’ve discussed before, our financial elites have been running the Modern Monetary Theory (MMT) experiment at our expense.

Under this misguided framework, debt is an asset and spending has no consequences. This explains the massive $34 trillion national debt and why nobody wants to talk about the BRICS: The Federal Reserve is playing with Monopoly money.

The Bipartisan Debt Agreement

Tragically, adding to the debt seems to be the only thing Democrats and Republicans can agree upon. Every president seems to raise the debt higher than the previous, adding more velocity to the debt spiral. President Trump approved $8.4 trillion of spending during his term, and President Biden is pitching $7.4 trillion budget for 2025.

The International Monetary Fund (IMF) is actively warning that the debt burden could have dire domestic and global economic consequences. Even prominent voices from the private sector are sounding the alarm. Jame Dimon, the J.P. Morgan-Chase CEO, called the debt bubble “the most predictable crisis.”

While it’s easy to place the burden squarely on the shoulders of politicians, we the people share some of the blame. The truth is nobody wants to be reminded of the debt crisis or hear comprehensive solutions, let alone suffer the austerity measures that would be necessary.

Ross Perot – the last presidential candidate to talk seriously about debt – effectively committed political suicide. It turns out debt isn’t a politically expedient subject when bragging about your golf handicap will drive views.

No Solutions = A Lot of Problems

During the 2024 presidential debate, both candidates made it perfectly clear that they have no plans (or desire) to tackle the debt problem. They’re relying on inspiring messaging and stage antics to win over the American people instead of concrete solutions.

“Hope without a plan is hopeless.”

Unlike the government, the private sector can’t print its way out of debt. As the national debt increases, so does the burden on individuals and businesses. Savvy investors are already looking for ways to shore up their wealth from the incoming deluge of inflation and devaluation.

The MMT Playbook

Financial literacy is essential for making wise and timely investment decisions. Unfortunately, the government has kept its economic inner workings under wraps…until recently. At Scottsdale Bullion & Coin, we’ve been warning about the rise of MMT and its consequences.

We’ve put together a comprehensive report explaining everything investors need to know about this highly influential and controversial fiscal theory. Request your FREE COPY of the MMT Report today to secure your financial future.

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Modern Monetary Theory, the Catalyst to the Next Financial Crisis?

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