As the U.S. Senate moves closer to passing a trillion-dollar spending bill that includes some infrastructure priorities, critics are warning that the public is being taken for a ride.
President Joe Biden and his allies in Congress have actually claimed that the new spending won’t add to the national debt or increase pressures on inflation. Treasury Secretary Janet Yellen pitched the package as an investment in the economy.
It’s certainly true that much of the nation’s infrastructure is badly in need of upgrades. Roads, bridges, pipes, and airports across the country are in poor shape.
But the proposed spending includes lots of things that have nothing to do with actual, physical infrastructure improvements. The Wall Street Journal slammed it as a step toward a Green New Deal.
And it’s not all paid for through budgetary gimmicks, either. The nonpartisan Congressional Budget Office reported on Thursday that the infrastructure bill in its current form would increase federal budget deficits by $256 billion over 10 years.
So as with other forms of government spending, it will be paid for by creating new debt and inflating the currency supply.
Republican Senator Mike Lee of Utah blasted the bill’s fake “pay for” provisions and predicted higher inflation rates ahead.
Sen. Mike Lee: And there are lots of good things in this bill that will help a lot of good people, that are well-deserving. Sometimes when you get so wrapped up in that, it’s easy to lose sight of the fact that the pay-fors are fake. But if we weren’t going to provide real pay-fors, then we should have just seen from them an admission from the outset. We’re not going to pay for it. And instead they said, “It’s going to be paid for.” And then they released it and said, “It is paid for,” only there are some asterisks next to that, some footnotes that reveal that according to a lot of research that’s been done on it, as much as half of the pay-fors are just fake. Rising deficits and the mounting debt that we’ve accumulated is not just a future problem, it’s a present problem. We’re seeing inflation, the likes of which we haven’t seen in decades. And I strongly predict, by the time the latest inflation numbers come out just a week or two from now, we’re going to see that it’s even worse.
Inflation this year has been much higher than the Biden administration and the Federal Reserve had predicted. But in recent weeks a massive disconnect has emerged in the bond market, where yields are falling rather than rising.
The 10-year Treasury yield dipped below 1.2% this week. Perhaps bond buyers are convinced that inflation pressures are transitory and that consumer prices will barely budge over the next decade.
Or perhaps the bond market is reflecting some other reality. Expectations that the Fed will continue to be the largest buyer of Treasuries may be overriding any concerns about inflation and negative real yields.
A surprising lack of inflation fear is also being reflected in the precious metals markets – at least in this summer’s trading.
Precious metals investors will need to keep a long-term perspective through these choppy market conditions. Markets are inherently unpredictable from day to day. But if the goal in acquiring physical bullion is to beat inflation and maintain or grow purchasing power over time, then there are trillions of reasons to keep accumulating.
The government officially owes $28.6 trillion on the heels of a record a record $3.4 trillion budget deficit.
Treasury Secretary Yellen announced Wednesday she would be pursuing emergency measures to raise $126 billion and avoid breaching the Congressionally imposed debt ceiling.
The Treasury’s accounting maneuvers will, for now, avert a disastrous debt default. And, like so many times before, Congress will eventually raise the debt ceiling to enable more Biden administration borrowing
To expect politicians to ever impose meaningful fiscal discipline on themselves is to ignore all recent history. Regardless of whether Democrats or Republicans happen to be in charge at any given time, the spending never stops and the debt always expands.
That doesn’t mean Washington can continue running up red ink in perpetuity without serious consequences. The ultimate consequence may be a currency crisis as the Fed’s own ongoing extraordinary measures of buying up government bonds trigger a slide in confidence in the U.S. dollar itself.
Since Federal Reserve Notes are no longer backed by gold or silver or anything tangible, maintaining their value is literally a confidence game. Of course, having the world’s largest economy and military with global trade conducted mostly in dollars, combined with the IRS’s power to tax in dollars, goes a long way toward bolstering confidence that lots of people will continue to need dollars.
Thanks to its privileged position on the world stage, the U.S. has been able to forestall a currency crisis for longer than many sound money advocates would have thought possible. But as the country’s debt rises faster than its GDP and interest rates remain artificially depressed below the inflation rate, the value of the currency has nowhere to go but down.
No emergency accounting gimmicks by bureaucrats or fake “pay fors” by politicians will be able to bail the system out from what’s coming. All they can do is try to keep kicking the can down the road. But the end of the road may be approaching.
Investors need to be prepared for what happens next.
A sharp rise in inflation has already occurred over the past year as a result of expansionary fiscal and monetary policies. While Fed Chairman Jerome Powell assures the recent inflation spike is just “transitory,” the government’s borrowing binge is more aptly described as intractable.
There is no political will to stop the deficit spending or pay down the national debt. And there is no way for officials to maintain their growing debt load other than by inflating the currency supply.
The only question is whether they will be successful in engineering a gradual, orderly decline in the value of the dollar…or whether they will one day lose control as the currency collapses.
In either scenario, gold and silver markets can be expected to perform relatively well. But in the event that the dollar’s decline becomes disorderly, precious metals may be the only asset class that holds up well.
The Dangers of Speaking the Truth Diminish If We Work Together
It’s becoming harder and harder for patriots to ignore the deep suppression of truth that’s happening in America today.
In all of my years in journalism, I have never received as many threats or been attacked by big companies like Google and Facebook as I have in 2021. I’d say that ever since we started covering widespread voter fraud, government-endorsed Pandemic Panic Theater, vaccine cover-ups, Critical Race Theory, and the various Neo-Marxist and Satanic agendas at play, I’ve been targeted more in months than the entirety of my life prior.
Speaking the truth is getting harder with so much censorship and suppression rampant. Prior to 2020, I was not a “conspiracy theorist” or an “anti-vaxxer,” but if there’s one thing the onslaught of exposed lies have taught us in the last 18 months, it’s that we cannot take what we’re told by the “arbiters of truth” at face value. There’s an agenda behind every message, a narrative driving every story, and a series of gigantic cover-ups designed to keep the masses in the dark.
This is why we’re building a network of news outlets that are willing to go against the narrative and expose the truth. We need help. We’re establishing strong partnerships with like-minded news outlets and courageous journalists. Even as Big Tech suppresses us, the honest messages they’re trying to quash are finding their way to the eyes and ears of patriots across the nation. With the help of new content partners like The Epoch Times and The Liberty Daily, we’re starting to see a real impact.
Our network is currently comprised of nine sites:
- NOQ Report
- Conservative Playlist
- Truth. Based. Media.
- Freedom First Network
- Based Underground
- Uncanceled News
- American Conservative Movement
- Conservative Playbook
- Our Gold Guy
Some of our content is spread across all of these sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
I’ve said much of this before. From time to time I reframe this request for assistance by taking the most relevant message of the day and adjusting the story accordingly. We’ve discussed this network in previous articles. Now, it’s time to talk about help. First and foremost, we need financial assistance detailed below. But we could also use more writers who are willing to volunteer their thoughts for the sake of spreading the message. Those who are interested should contact me directly.
As far as money, we’re looking better than we have in the recent past, but we are currently experiencing a gap between revenue and expenses that cannot be overcome by click-ads and MyPillow promos alone (promo code “NOQ” by the way).
To overcome our revenue gap and keep these sites running, our needs fluctuate between $2200-$7800 per month. May, 2021, for example, was amazing and we almost broke even. June, revenue was sluggish at best and we had to make up a big difference out of our pockets. But we’re not just trying to get out of the red. If and when we start getting enough contributions to expand, we will do just that. Very few get into journalism to try to get rich and we’re definitely not among those who do. Our success is driven by spreading the truth, profitable or not.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Time is short. As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our new GiveSendGo. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
We currently operate:
- NOQ Report
- Conservative Playlist
- Uncanceled News
- Based Underground
- Truth Based Media
- Five other conservative news sites
I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
For those who have the means and just want to help keep the mission of spreading a conservative, Christian message to the nation, please consider a generous donation.