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What the Budget Deal Means For Gold and Silver

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.


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An actual conversation with an intelligent person

China is not happy with our monetary and fiscal policies which is troubling since we rely on them to buy amd hold and roll over our debt.
Reponse: Ive been hearning that for a while, but really what can they do.? (Snickering) buy Euros?
Yes and that is exactly what they are doing

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To all those that think our dbt to Gdp is fine

Answer this question. How will the US pay the interest on its debt when rates rise and how will the US pay its unfunded liabilities? http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...

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Revised- based on DP input

on final two paragraphs thanks to Chrome and jb.kibs

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The Post World Dream

If it wasn't for the .......


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Wolf explains that there is no alternative to the dollar. I think the production crunch is more or a problem. Many alternatives to the dollar for now. Such as gas, beans, rice, gold and silver. Everyone is constantly fleeing the dollar on a daily basis. The question is when will the man behind the curtain fail to provide for the system with production.

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This is RICH!- The sudden rise in gold prices undermines

confidence in the gold market!!!!
Not the countless massive paper short selling. That must build confidence!

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Many keep saying there was no

Many keep saying there was no chance of default because the US can easily pay the 20 billion a month debt payment...but that is at ZERO % interest. Once a firm debt ceiling would have went into effect, the 10 yr. goes on a moonshot.

Math is a funny thing.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Correct there was no chance of default THIS TIME

But of course the more debt we have and the higher the interest rates go the more likely default becomes
The politicians weren't warning about default to cut spending, they were warning about default to increase spending by raising the debt ceiling.

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Gold Spikes 3% After Debt Ceiling Rises & U.S. Downgrade

Global sales of bullion bars and coins gained 78% in the second quarter, according to the World Gold Council, showing that demand actually accelerated.


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