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.

It’s been no secret that the prices of gold and silver have been moving upward at a fast clip in recent months. Gold has soared 27 percent so far this year. There has not been a significant drop-off in production, so it’s been evident that an increase in demand has been a part of the force driving the price upward.

Anyone seeking evidence that the standard leftist/socialist dogma may not work well need look no further than two western hemisphere governments, Venezuela and Puerto Rico, as both are now being wracked by financial and social upheavals.

As we have repeated quite often, rising inflation—or, more particularly, the expectation of rising inflation—has historically been perhaps the most important ingredient of all in past precious metals bull markets.