Home Metaverse Is the rise in Bitcoin and gold price foreshadowing further debasement?

Is the rise in Bitcoin and gold price foreshadowing further debasement?

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  • The Treasury General Account (TGA) is maintained by the US Treasury at the Federal Reserve Bank. Used to manage government cash flow and spending activities.
  • It receives various deposits, including tax collections, and makes payments on federal expenditures, a key indicator of meeting its financial obligations.

quick take

  • TGA is falling like a stone. He’s down $50 billion this week and $130 billion this month.
  • Data on Fred is a weekly average and is now reported to have $109 billion left. However, daily statements report that there is only $87 billion left in the account.
  • The new tax revenue has not outpaced the runoff created by Secretary Yellen and Congress to continue spending.
  • What does this mean? The government will run out of funds in a matter of weeks.The FDIC will no longer be able to guarantee deposits and could face a government shutdown.
  • Expect more discussion on raising the debt ceiling, including printing more money and further weakening the currency.
  • Are Gold and Bitcoin sniffing out this potential short-term drop? Bitcoin is up 10% this week and gold continues to hit new highs.
Treasury Statement: (Source: Treasury.Gov)
TGA: (Source: Fred)
TGA: (Source: Fred)

Posts Rising Bitcoin and Gold Prices Presage More Drops? First Appeared on CryptoSlate.

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