By Michael Maharrey, includes “According to Truth in Accounting’s analysis, the US government’s financial situation has deteriorated over the last year. … Truth in Accounting’s conclusion feels a lot like an understatement. ‘Because the federal government would need such a vast amount of money from taxpayers to cover this debt, it received an ‘F’ grade for its financial condition.’ Can we go with an F-? The only thing that keeps the federal government solvent is the fact that the Federal Reserve backstops the bond market and monetizing the debt.”
Read the full article on: SchiffGold