Must Read: War and Inflation

"Boom Goes Interest" Expense

Housekeeping: Happy Father’s Day. This is a great read in Classic James Grant Fashion..Enjoy

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Note: GoldFix Working Vacation

We will be off from proprietary analysis and podcasting all next week after almost 4 years building GoldFix out. But it will be a working vacation.

We intend to do 2 longform articles of importance.

1. One will be a thorough analysis of this VAT situation in Silver hoping to put it to bed once and for all; or if not, at least help people frame the discussion properly. That research is ongoing. (CPM/Silvercorp analysis re-attached at bottom)

2. The other post will be an in depth coverage of the IGWT report which had too many good pieces and video interviews to view and prioritize. (Also re-attached at bottom)

Daily Posts: You will be taken care of

There will be 2 posts daily for Premium and 1 more for Founders. The content will be research curation of interest to us all in Metals, Inflation, BRICS, and Geopolitics, that catch our eye.

There will also be a daily free post sent on anything we personally read and/or is newsworthy

Cheers!

War and Inflation Contents:

1. Grant’s Summary: “The guns of interest rates”

2. [Background: A Senator Wants More Military Spending]

3. [Grant’s Has a Problem With This]

4. [We’ve Played This Game Before]

5. [The Result Will Be Sacrifice or Inflation]

6. [More Spending No Longer Means Better Military]

7. [Where did the First $7.4 Trillion Go?]

8. Grant’s History Lesson

   1. [The Last Cold War]

   2. [The Peace Dividend Wasted]

   3. [The War of 1812’s Gold Standard Worked]

   4. [Civil War: No Gold and No Standards]

   5. [From Prudence to Profligacy]

9. [What if We were really at War?]

10. CPM Report

11. IGWT Report

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Grant’s Summarized

Excerpted from Grant’s Interest Rate Observer

Jim Grant’s Topic for Discussion:

A new defense-spending push, overlaid on free-flowing entitlement and “inflation-reduction” outlays and on the so-called energy transition, would threaten the public credit. “Guns or butter?” posed the politicians of the 1960s. “Both” turned out to be the inflation-instigating answer, as it might be again.

Re the “defense-spending push”:

The Proposed Rearmament Bill… a 55 billion bump up in spending this year—fiscal 2025—and a rate of rise beyond next year that would boost “military spending from a projected 2.9% of our national gross domestic product this year to 5% over the next five to seven years.”