No. 527: SPECIAL COMMENTARY Update on U.S. Fiscal, Monetary, Economic Conditions and Outlook for U.S. Dollar, Gold and Silver

(SGS Subscription required) • $25 Million Shy of New Debt Ceiling, U.S. Treasury Holds $16.1 Billion, About One Day’s Worth of Regular Operating Cash
• Since Onset of Expanded QE3, Fed Has Monetized 73% of Net Public Treasury Debt Issuance, Should Hit 100% by Mid-July
• Fed Locked into Quantitative Easing for Foreseeable Future by Economic Woes, Banking System Difficulties and Treasury Borrowing Problems
• Narrowed Budget Deficit Forecasts Reflect One-Time Accelerated Tax Receipts, “Dividend” Payments and Overly-Optimistic Assumptions, Economic and Otherwise
• Developing Washington Scandals Could Impair U.S. Dollar
• General Outlook Has Not Changed

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