What the Budget Deal Means For Gold and SilverSubmitted by Smaulgld.com on Fri, 10/18/2013 - 07:23
The Farce Continues
The United States Congress ended its impasse yesterday and as predicted came to a last minute deal to raise the debt ceiling. This was characterized by the media as averting default. There never really was a threat of default as there was enough money to pay the interest on the U.S. debt, but all sides (the President, the Democrats and Republicans) acted as if that was what was at stake.
The real issue was about how much discretionary spending the government wants and can afford. Yesterday Congress voted for all of it.
A Continuation of Dysfunctional Monetary and Fiscal Policies
The Dollar, Gold and Silver
China Calls for a De-Americanized World
Foreign creditors could care less about the politics between the President, Republicans and Democrats. What they heard during the debt ceiling debate was that the United States can only pay its creditors if it borrows more.