James Turk: Get ready for another U.S. government default

By James Turk Free Gold Money Report Wednesday, April 15, 2026 In 1933 the U.S. government defaulted on its debt by not repaying the gold it owed. In 1965 it allowed its central bank to default on the silver it owed. These two precious metals are the money of the American Constitution. They defined the dollar as an amount of precious metal weight. Linking the currency to a precious metal is wise and prudent monetary policy. Adherence to it limits the quantity of dollars that can be issued relative to the weight of metal in the U.S. Treasury's vaults, thereby preventing debasement of the dollar's purchasing power, generally called "inflation."  ... Dispatch continues below ... ... ADVERTISEMENT ... Bullion Star Opens in the U.S., Selling and Vaulting Gold and Silver Bullion Star is now open in the United States, offering gold and silver bullion at extremely competitive prices with free delivery. Bullion Star also offers customers a year of free vault storage along with free delivery as well as storage in its secure precious metals vault in Dallas, Texas. Storing precious metals is challenging. Homeowner's insurance seldom covers precious metals, and safe deposit boxes offered by banks are neither insured nor covered by the government deposit insurance. Bullion Star's vault is an independently run, Class III UL-rated vault with uncompromising surveillance and round-the-clock security. With Bullion Star you can transact and store your metals securely and confidentially. Your bullion is fully insured against all risks at full replacement value. Bullion Star uses five audit methods to verify the existence and correctness of your stored bullion. For more information, please visit: https://www.bullionstar.us/ Unfortunately, common sense and cautious banking practices were abandoned with predictable results. The two defaults followed when new debts generated by banks caused the quantity of dollars to rise until they became too large relative to the weight of metal backing them, at which point confidence in the currency broke. What was $35 per ounce of gold in 1971 is now approximately $4,800. Today's fiat dollar is not tied to precious metals, severing the link to a primary constitutional principle that imposed indispensable discipline on U.S. government spending and the banking system. In the absence of that discipline, the U.S. government is living beyond its means, which means everyone else is living below theirs. ... ... For the remainder of the analysis: https://www.fgmr.com/get-ready-for-another-us-government-default/ * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png