While present official numbers remain quiescent at below 2%, we strongly believe the seeds of future inflation have now been laid via virtually unlimited currency creation by various central banks around the globe.

All in all, these spending proposals, combined with those already approved, could bring total spending for the current budget year to around $8 trillion—by far the highest level ever recorded in America’s history.

These moves were the first serious interruption to the bull market, which had not encountered a serious decline since the election of November, 2016. Since general market moves have been one of the most reliable historic indicators of precious metals market moves, we take a close look at these developments.