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Hi, this is Retirement Guy with the Money Minute brought to you by
CheckBook IRA. The Congressional Budget Office, the CBO, just released the
latest figures on the amount of money that the US Government has spent.
We've got another $1 trillion budget deficit for another year. So that's
four years in a row of running $1 trillion deficit each year. That's over
$4 trillion for the last four years.
Now that's money that we had to borrow. The problem is no one's lending. So
we had to print it up. It's a little complicated, but if you do much
research about the Federal Reserve, you realize they're not federal any
more than Federal Express is, but they're a group of banks and they just
issue IOUs or notes. That's what a Federal Reserve note is. They just print
them up, and they in turn loan them to the federal government so they are
able to keep spending money without raising your taxes.
Somebody's going to pay, probably our kids and our grandkids. By spending
that $1 trillion a year, that is going to cause rampant inflation. Gasoline
has already double since the current administration took office. If you've
been to the store at all, you know things are going up. Or like my wife was
saying, she went to the Dollar Store, and things are still a dollar. But
instead of getting 16 ounces, you only get 12 or maybe you get 10. So
they're changing the packaging.
Inflation is out there for anybody that can actually come down from their
ivory tower and take a look around. So in this Money Minute really what
we're saying is with the CheckBook IRA you have the opportunity to protect
your retirement. One of the things that people are recommending is buying
gold and silver and actual physical coins. There are other videos we've
made on why physical coins are better.
It gives you an opportunity to hold your retirement together while these
crazy people just keep printing money and spending it. You're going to need
to take care of your retirement because Social Security might not be there.
You've worked hard for your retirement.
Anyway, give us a call. We'll try to help out. Hopefully, this Money Minute
has helped you. This is Retirement Guy from CheckBook IRA. Happy investing.