Articles
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Debt Ceiling and the pitiable plight of Gold, Silver futures By Rakesh Neelakandan
While the markets brace for another few months of volatility possibly into March, gold and silver prices are expected to be on tenterhooks. While they oscillate between gains and losses, bull fights and bear hugs, investors would face another crisis of confidence.
By Rakesh Neelakandan
Will US default on its debt?
Of course, we cannot say this at this point in time; but if it happens it can usher in a solvency crisis and the resulting issues would add to global uncertainty and risk escalation forcing gold and silver to evergreen highs. This much we know as debt-ceiling debate puts on its trousers before heading to the Capitol.
Obama has said that he considers it not-debatable if the debt-ceiling should be raised or not. Analysis say the issue could well become the next fiscal cliff: a source of contiguous consternation.
“I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they passed,” the president said Tuesday night after the fiscal cliff deal was clinched.
The US government has to pay the bills and it is the collective responsibility of the Congress and government (not government’s alone) to see to it that money to this effect is raised.
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