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Edmund C. Moy

Market Insider: October 17, 2023

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U.S. Money Reserve

Oct 17, 2023

The U.S. federal debt reached a record high of $33 trillion in September 2023 and is growing rapidly. In conjunction with rising debt, rising interest rates make U.S. debt payments more costly for the government.

“High and rising national debt will mean that more of the budget will go towards servicing that debt with interest payments instead of going towards other priorities. Importantly, a high interest burden also makes it more difficult for lawmakers to borrow more in times of emergency or during a war without significant consequences.”

—Committee for a Responsible Federal Budget

What are the long-term consequences of rapidly expanding and expensive federal debt, and how can consumers shield their portfolios?

Click on the video link below for exclusive executive insights on this topic from Edmund C. Moy, 38th Director of the U.S. Mint and Senior IRA Strategist for U.S. Money Reserve.

Related headlines from around the web:

  • The New York Times: “U.S. National Debt Tops $33 Trillion for First Time”
  • Fox Business: “The U.S. is paying a record amount of interest on its national debt”
  • Reuters: “Gold scales two-week peak with focus of U.S. CPI data”

Protect your portfolio with precious metals today.

Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.

Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.

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