American debt mountain drives gold price up
Thanks to US President Donald Trump, the debts of the USA continue to grow. Taxes are reduced and expenditures increased. If this continues, government debt will double by 2048, according to estimates. Today it already accounts for far more than 100 percent of the gross domestic product. And private citizens in the USA are also becoming more and more indebted.
An investment in precious metals, primarily gold, can help here. At some point this should also become clear to the Americans and drive the price of gold upwards. So it is not surprising that a US Congressman has now presented a bill to remove income tax on gold and silver (Tax Neutrality Act HR 1089).
Stefan Gleason, President of Money Metals Exchange, puts it in a nutshell: "It is unfair to levy a capital gains tax when citizens hold gold and silver to protect themselves from the monetary policy of the FED". Inflation, according to Gleason, is also a regressive tax that harms especially wage earners, savers and pensioners with fixed incomes.
In our country, the purchase of investment gold (coins, bars) is tax-free. If it is held for at least one year, the profit is not subject to any tax. But if you are a little more courageous and want higher profits, you can invest part of your portfolio in gold companies. GoldMining and US Gold, for example, are suitable here.
GoldMining - https://www.commodity-tv.net/c/search_adv/?v=298668 - has assembled a significant number of gold and gold-copper projects, is debt-free and has cash in excess of $9 million. The projects are located in Brazil, in the Northwest Territories in Canada, Colombia and Peru. And in the Athabasca Basin in Saskatchewan, GoldMining has a 75 percent interest in a uranium project.
US Gold - https://www.commodity-tv.net/c/search_adv/?v=298829 - has various projects in the USA, with the Keystone project in the Cortez Gold trend in Nevada being particularly noteworthy. The Copper King project in Wyoming was also intended to ensure the company's success.
Current corporate information and press releases from GoldMining (https://www.resource-capital.ch/en/companies/goldmining-inc.html) and US Gold (https://www.resource-capital.ch/en/companies/us-gold-corp.html).
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