What are the grave consequences if the U.S. debt ceiling isn't increased and the government defaults? What would the Federal Reserve and the Executive Branch do to prevent default if Congress doesn't act? Topics covered include: What are the potential impacts of a U.S. default on the stock and bond markets, and the overall economyWhat causes the U.S. to have a perennial debt ceiling crisisWhy it is uncertain when the U.S. government would run out of money to meet its obligationsWhat the Biden Administration could do to prevent a defaultWhat the Federal Reserve could do to prevent a defaultGiven the ongoing crisis, should you shift assets from stocks to cash? For more information on this episode click here. Sponsors Use code MONEY10 to get 10% off on your NAPA Autoparts online order. Masterworks – invest in contemporary art Masterworks Disclosure: “net IRR” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold, and past performance is not indicative of future results. See important Reg A disclosures: Masterworks.com/cd  Masterworks’ offerings are filed with the SEC, view all past and current offerings here. Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter. Show Notes The Debt Limit Since 2011—Congressional Research Service 7 doomsday scenarios if the U.S. crashes through the debt ceiling by Jeff Stein—The Washington Post A debt ceiling default would send the U.S. housing market back into a deep freeze by Jeff Tucker—Zillow Why is federal spending so hard to cut? — Recurring debt ceiling fights will only be solved by budget reform by Linda Bilmes—Brookings Debt Limit Default Is Default, Even Under a “Prioritization” Scheme by Richard Kogan—Center on Budget and Policy Priorities Why I Changed My Mind on the Debt Limit by Laurence H. Tribe—The New York Times The Trillion-Dollar Coin Might Be the Least Bad Option by Annie Lowrey—The Atlantic If U.S. again risks default, Fed has 'loathsome' playbook by Ann Saphir—Reuters Related Episodes 169: The Debt Ceiling—What Happens If the U.S. Defaults 416: Your Nation’s National Debt: 5 Things You Need To Know See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why you should allocate a small percentage of your assets to gold. Topics covered include: What is money, and how does gold fit with that definitionWhy central banks bought more gold last year than at any time since 1967Which central banks own the most gold and which are increasing their gold holdingsHow fast is the gold supply growing compared to the U.S. dollar money supplyHow financialization, greater leverage, and contagion risk should motivate us to consider gold For more information on this episode click here. Sponsors Hello Fresh – Use code 16david for 16 free meals with free shipping from Hello Fresh NetSuite – the leading integrated cloud business software suite Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter. Show Notes Central banks load up on gold in response to rising geopolitical tensions by Daria Mosolova—The Financial Times Above-ground stocks—Gold Hub Central bank holdings—Gold Hub Does the Federal Reserve own or hold gold?—The Federal Reserve Trey Reik—LinkedIn M2 and Components—FRED Gold Charts R Us Related Episodes 37: Gold – Without the Hype and Politics 53: Should You Invest In Bitcoin? 59: Is Gold Money? 263: Should You Invest In Gold? 344: Why Should You Care About Shadow Banking? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.