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POSTED ON August 2, 2023  - POSTED IN Key Gold Headlines

The debt ceiling deal was supposed to stabilize things for the US government. By suspending the debt limit for two years, Congress mitigated the fear of a US default, but the deal apparently wasn’t enough to paper over the dysfunction in Washington DC.

On Tuesday, Fitch Ratings downgraded the US’s long-term credit rating from AAA to AA+.

POSTED ON August 1, 2023  - POSTED IN Key Gold Headlines

There’s a big problem that pretty much everybody is ignoring.

In just two months since Congress reached a deal and suspended the debt ceiling for two years, the national debt has surged by a staggering $1.2 trillion.

Within a week of the debt ceiling suspension, the national debt cracked $32 trillion and as of July 28, it stood at $32.66 trillion.

POSTED ON June 19, 2023  - POSTED IN Original Analysis

The great anti-federalist Brutus wrote, “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge.”

And here we are.

With little fanfare, the national debt blew past $32 trillion last week.

POSTED ON June 13, 2023  - POSTED IN Key Gold Headlines

Congress “solved” the debt ceiling problem by effectively eliminating borrowing limits for the next two years. But it did nothing to address the underlying problem. And that underlying problem is painfully obvious when you look at the monthly budget deficits the federal government continues to run month after month.

In May, the Biden administration piled another $240.3 billion onto the fiscal 2023 deficit, running it to $1.38 trillion with four months left to go, according to the latest Monthly Treasury Statement.

POSTED ON June 12, 2023  - POSTED IN Key Gold Headlines

The debt ceiling drama ended with fake budget cuts and a shiny new credit card with no limit for the federal government. We can now expect a big surge in the national debt as the US government plays catch up after nearly six months up against its borrowing limit.

So, how might this impact the price of gold?

If history is any indication, it will likely drive it higher.

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