The Reason Why CNBC Loves Bitcoin So Much

Yields Are Rising Due To Higher Inflation

Rising nominal bond yields continue to weigh on gold, even though yields are rising due to higher inflation, not stronger economic growth. In fact, nominal yields are rising more slowly than inflation, so real yields are actually collapsing. This is extremely bullish for gold!

The Rise In Oil Prices Is Just Starting!

The price of crude oil is closing in on $80 barrel, trading above $79 for the first time in 7 years. But if you look at a chart this move is only just getting started. The parabolic move higher likely won't kick in until we take out $150 per barrel. That might happen as soon as 2022.

Growth Is Slowing Rapidly

Yesterday the Atlanta Fed slashed its forecast for Q3 GDP from 2.3 percent to 1.3 percent. Back in June its forecast for Q3 growth exceeded 7 percent! Growth is slowing rapidly just as consumer prices are rising substantially. Stagflation is already a reality. I dare the Federal Reserve to taper. Buy gold!

The U.S. Has No Ability Or Intention Of Ever Repaying The Debt

The reason a failure to raise the Debt Ceiling will lead to a default on the National Debt is that the U.S. has no ability or intention of ever repaying the debt. It will only borrow to keep the Ponzi scheme going until lenders wise up and dump their Treasuries and U.S. dollars.

Inflation In New Cars

Despite reporting falling sales, General Motors (GM) reported that average selling prices rose to $47,467, a 20 percent increase over the past year. That's ten times the Fed's official 2% inflation target. If prices rise another 20 percent this year, the average new General Motors (GM) car will set you back $57,000. Thanks to the Federal Reserve.