Buy GOLD and SILVER: Massive Government Debt Piling Up: Part Three:
Dateline: Del Mar, CA: Monday, October 07, 2019
FNB is a precious metals industry leader. Each weekday, we post information and financial facts (and opinions!) that relate directly to the financial markets and also that have direct impact upon the daily lives of investors.
In our last session, FNB continued our public debt series. We discussed and turned our attention to the mounting, ever-escalating mountains of government debt. Government debt that piles up, layer upon layer in most of our cities, townships, states and of course federal government.
FNB took a close look at the city of Chicago and its seemingly insurmountable public indebtedness.
In this session, FNB digs a bit deeper into the matter of public debt and how the city of Chicago, Illinois is drowning in its bottomless cavern of: insurmountable debt.
The City of Chicago and its PUBLIC DEBT CRISIS:
The city of Chicago, Illinois has spent the last seventy years digging itself a humongous financial cesspool.
For over seventy years, politicians and their public sector union allies have done everything in their power to bring the city to the place where it sits right now: on the very precipice of total financial collapse.
The city of Chicago now stares down a financial standstill of sorts. The city has relied for so long upon public debt as its primary financial solution. Now, the city finds itself in a place that looks ominous. For the prospect of financial impairment for this city seems more than probable.
The city is in a place where the monies that it collects from ever-expanding tax-revenue schemes simply does not match or in any way come near to meeting its fiscal obligations.
When you combine the fact that ever-expanding tax-revenue does not meet current obligations you have to add to the equation that unfunded, pension liabilities to the public sector employees that its politicians partner with are also growing at exponential levels.
Chicago’s annual pension requirements–these are guaranteed payments–have risen from $ 500 million annually to now well over $ 1,000,000,000.
But that’s not all. The city faces: revenue shortfalls + exponential pension guarantee requirements and now you have to add public school district debt to the pile.
The Chicago Unified School District has been borrowing at an accelerated clip over the last decade. The CUSD claims that its facilities need improvements and maintenance. To meet these capital improvement needs, the CUSD has been on a borrowing and spending spree.
Talk about a recipe for fiscal and political disaster:
Revenue Shortfalls + Ever Increasing Pension Payments + CUSD Spending = ????
How can this boiling pot of financial mishmash end up anywhere but in full fiscal disaster?
In our next session, FNB will address this fiasco through the prism of what reforms could be forthcoming in light of such obvious and ongoing dereliction of duties.
FNB strongly urges all savvy and thoughtful investors to ramp up their physical gold coins, bars and bullion holdings. FNB invites all to visit our website:
FNB invites all that live in or near our three physical locations in San Diego, Del Mar and Scottsdale to stop in and visit and meet one-on-one with our Team of precious metals experts.
FNB posits and strongly asserts that capitalism and the capacity to own, manage and profit from the collective of private properties and/or business initiatives is a driving force that America and its leaders simply must protect.
FNB remains diligent and unwavering in the call for common, average American people to seek out the Safe Havens of gold and silver coins, and gold and silver bullion.
FNB, a national precious metals industry leader and reputable gold and silver coin dealer urges investors, bond-holders, speculators and all who manage and/or oversee their family’s financial portfolio begin now migrating larger allocations into the historical safe harbors of: Gold and Silver.
Founder and Owner,
First National Bullion
For direct consultation with a gold and silver expert contact FNB: