Loading ...Whatever Drugs you take,
This guy thinks it might be different this time, but good for gold?
I realize we have seen this many times in the past eight years under the Obama administration; extreme media hype over possible conflict between Republicans and Democrats in extending the ongoing debt ceiling problem for another couple of months or another couple of years. In every instance, Republicans feigned attempts to reduce government spending and then rolled over to extend. The entire fight was purely theatrical and likely meant to distract the public.
However, in this instance, certain elements are very different.
With the deadline of March 15th crossed, the clock is ticking on remaining funds and “extraordinary measures” designed to stretch the federal budget until a vote on a debt ceiling extension can take place. Funds are predicted to last perhaps until this fall. Treasury Secretary Steven Mnuchin, a Goldman Sachs alumni, has of course asked congress for a quick vote to raise the ceiling. This is rather counter to Donald Trump’s original position that constant national debt increases are “embarrassing” to Republicans.
Given, it is not Trump’s fault that he inherits the most massively inflated liability bubble in U.S. history after Barack Obama nearly doubled the national debt during his tenure (an incredible feat, to be sure). But, this does not change the reality that the U.S. is far beyond its means to balance the budget or maintain the current level of spending. And, I would remind everyone that the official debt does not even including the trillions in ongoing costs associated with entitlement programs or social security.
With U.S. debt at a breaking point, it would seem prudent to institute considerable spending cuts. Of course, where those cuts are applied may become the excuse needed to drive the debt ceiling debate into crisis this time around.
I am not at all surprised that Democratic senate minority leader Chuck Schumer has recently vowed to throw the debt ceiling talks into disarray if Trump continues to pursue a rollback of Obamacare, the building of the southern border wall, or the defunding of Planned Parenthood. Schumer has specifically warned of a government shutdown designed to prevent the Trump administration from instituting such policies.
So, you can see why this particular debt ceiling fiasco might be different. With Trump in office, establishment elites do have a perfect opportunity to sow fiscal chaos and scapegoat conservatives in the process. Whether they will follow through or not remains to be seen…
http://www.zerohedge.com/news/2017-03-24/watch-these-geopolitical-flashpoints-carefully
Gold usually never responds to geo-political events but could the coming debt ceiling problem be different this time?
If the raising of the debt ceiling stalls and the government shutdown looks like it will drag out for a long time—and-on a separate matter–tax reform looks unlikely to pass in 2017…and if Trumps agenda appears to be failing…then maybe the $ and the stock mkt would start falling…and haven’t we heard for a longtime that “they” want to crash the stock mkt and economy under Trumps watch–[don’t ask me who “they” are cause I dunno]-if all that comes to pass, maybe gold might make a run…as faith in banks and the financial system is questioned. I do not expect a repeat of golds performance like in 2008-when gold collapsed along with paper.
Remember the Koch bros. hate Trumps guts–and they are the real power behind the throne in America via their ALEC entity—and they may want to sabotage his presidency.
In a last-minute effort to sink the Republican health care bill, a powerful network of conservative donors said Wednesday it would create a new fund for Republican 2018 reelection races — but they’ll only open it up to GOPers who vote against the bill.
The advocacy groups helmed by Charles and David Koch have unveiled a new pool of money for advertisements, field programs and mailings that would exclude those who vote for the health care bill they oppose on Thursday. The effort, which they described as worth millions of dollars, is an explicit warning to on-the-fence Republicans from one of the most influential players in electoral politics not to cross them.
The Koch-aligned networks oppose the bill because they think it does not do enough to scale back former President Barack Obama’s health care policies.
ALEC=gold bugs=bind these 4 letters for frontlets between thine eyes!
The KOCH bros rule America–and quite frankly I’m glad–I prefer them to the Nazi-like Left-like Sanders-Hillary–and that black muslim who almost became head of the democratic party–or Schemer–or Pocahontas–ya catch my drift? SEE my next post
AUGUST 1-8, 2011 ISSUE
ALEC Exposed: The Koch Connection
Untold sums of cash poured into ALEC by Charles and David Koch have been an effective investment in advancing their worldview.
By Lisa GravesJULY 12, 2011
This article is part of a Nation series exposing the American Legislative Exchange Council, in collaboration with the Center For Media and Democracy. John Nichols introduces the series.
Hundreds of ALEC’s model bills and resolutions bear traces of Koch DNA: raw ideas that were once at the fringes but that have been carved into “mainstream” policy through the wealth and will of Charles and David Koch. Of all the Kochs’ investments in right-wing organizations, ALEC provides some of the best returns: it gives the Kochs a way to make their brand of free-market fundamentalism legally binding.
No one knows how much the Kochs have given ALEC in total, but the amount likely exceeds $1 million—not including a half-million loaned to ALEC when the group was floundering. ALEC gave the Kochs its Adam Smith Free Enterprise Award, and Koch Industries has been one of the select members of ALEC’s corporate board for almost twenty years. The company’s top lobbyist was once ALEC’s chairman. As a result, the Kochs have shaped legislation touching every state in the country. Like ideological venture capitalists, the Kochs have used ALEC as a way to invest in radical ideas and fertilize them with tons of cash.
Richard
It’s generally on the third Friday less it’s a Holiday then Thurs. Heres a calendar.
http://www.marketwatch.com/optionscenter/calendar
SNG
Heres a summary of the plan and it’s not so great especially if your a older adult but too young for medicare. You could wind up paying 5 times more.
Former NIST employee speaks out
Probably everyone here realizes that the official 9/11 story was a pack of lies but I thought I would post this anyway. I though he did a good job. My epiphany was back on Feb ’07.
One Of These Days Master Planners, Pow Zoom, To The Moon!
One of these days these idiots are going to hit a tipping point, and the gold silver bugs will wire transfer all their brokerage accounts to APMX, Amark, Texas Metals etc, and show the schemers what a REAL run is on the Banks. People buying Gold and taking possession is a REAL bank run.
Maddog, Buygold
Roger, yes Spot Silver up 1%. No silver miners should be down. The bums are playing games. Were they hoping the miners would help the general indices?
You know their logic of “equality”. Dow weak PMs strong? lets “blend them”. That’s what they did with the whole USA. Blended us with all the other countries.
Up usual crap
Now scum bidding SM and selling Au after hrs !!!!!
Still not bad closes overall…scum are not winning.
Hey Maddog
Yep. I jumped the gun. So sick of this constant bullshit.
SM down, USD down. We should be doing a lot better, unfortunately there is no rule of law, the criminals run the show and keeping the pm sector down is obviously the most important objective in the criminal world – I really believe that.
They manage it so easily….
Mr Copper
Look what they did to PAAS dn near 3 % on no news and as u say Ag up 1 %.
Looks to me like they are hitting the ETF;s and certain stox…as they may be running out of metal to sell.
Someone/scum has been sitting on GDX for days now.
Yes Mr. Copper
This is the usual horseshit that always hangs around the pm sector.
As usual they hit gold at the close.
COT Report – pretty mild
Buygold/Mr Copper
We haven’t received the usual last hour beat down just yet, although the boyz are hell bent on defending $1250.
U asked and lo it came about..
No way will scum let 1250 in Au or 23.00 on GDX go….just ridiculous slam here…..scum look desperate operating so obviously.
Re Intraday At exactly 3:00 Some PMs went up, At Exactly 3:15 DIA goes up and GLD goes down
Then at exactly 3:41 DIA goes down and GLD inches up. Pretty much same action on some miners BTG AGI CDE AG MUX and others.
Mining Shares Should Be Roaring, Not Performing Normally, Something Real Fishy Going On
Gold Silver Platinum Palladium all up, and look at these few miners barely up. MUX +2.5% GSS +2%, GORO +1.3%, ASM +1.6%? AGI +1%? GLD +.24% with NUGT MINUS?? .50%???
The bums running things changed something. Did those clowns shove our action into the Dow SnP group??? What are we supposed to do now?
That’s odd
We haven’t received the usual last hour beat down just yet, although the boyz are hell bent on defending $1250.
Moggy
Didn’t know you then. Also had a big red white mice about Two feet high win in a gym match have to my brother to give to the hospital but he gave it to his girl friend Gir 🙁 I new once I got out on my own I couldn’t keep them so gave them away.
If I ever get to crochet again I liked snoopy too. I made a christmas stocking with snoopy sleeping on his Christmas decorated dog house dreaming about his red air plane which he had a santa bag being santa.
Ah Yes
Somethings are gone but not forgotton and those that appreciate finer things need to remind those that never experienced anything better that its the human spirit that gets lifted and its not because anyone is better than another its a way to rise above the mundane and commonplace and see a vision of something better …i also remember Christmas & New Years at the Hotel “DEL”in Coronado California and Christmas Parade of Boats at San Diego ..Somethings are worth enjoying and keeping traditions that uplift spirits give joy to living. Christmas in NY CITY is also a good rememberence not experienced would have been a loss.I refuse to let Muslims or anyone else destroy Americas good times…and blow everything up because they hate themselves and what they are …Dont curse the darkness …light a candle…!
Italians say MISIRAB !
stock futures
appears to be rolling over. will the fed come to the rescue again? some talking heads are saying the central banks of the world are buying stocks because bonds don’t offer much return. they are screaming 50,000 dow. if that is truly the case, the world stock markets may indeed double from here. who will be the next buyer? there is no better argument for pm than the buyer of last resort buying. currency will be worthless at a 50,000 dow. stagflation at its grandest.
i still believe we are looking at deflation but never underestimate the stupidity of large groups of central bankers and elected officials.
rno
Ororeef @ 12:28……Goldi
@ Ororeef…The good old days are gone, I’m sorry to say, and what we have to look forward to is a deflationary depression….with hyperinflation of certain items served on the side. That’s why it is necessary to one’s psyche to serve tea in an elegant cup so the mind doesn’t get bogged down in a negative fog. One can still enjoy High Tea at the Breakers when in Palm Beach, it is a daily event…and although cucumber sandwiches are on the menu, tea and crumpets are more interesting.
@ Goldi…Never would I have been able to part with your Snoopy. A dear friend has gifted me with a smaller version of Snoopy hugging Woodstock. It is one of my most treasured possessions.