Debt ceiling, fiscal cliff,,,

来源: hercules007 2012-05-16 20:20:18 [] [博客] [旧帖] [给我悄悄话] 本文已被阅读: 次 (3662 bytes)
Gold has been sold down very aggressively lately. It is the result of unwinding of leveraged positions and a mad scramble for USD cash, it is not a reflection of fundamental changes.
 
 
year-end fiscal cliff
 
 

Here is what confronts Washington......: At year's end, tax cuts enacted under President George W. Bush expire along with a payroll tax holiday for workers. Doctors treating Medicare patients get a 27 percent pay cut, millions of middle-class taxpayers face paying an alternative minimum tax meant for the rich, and automatic spending cuts start to kick in. Also, the $16.4 trillion debt limit will have to be raised to avoid a U.S. default.

(A cliff, indeed, for the US dollar if not handled properly. And even if they can push this cliff down the road this one more time, there will be aother, and another,,,that will surely come knocking.)

Obama: Obama says won't allow U.S. debt ceiling crisis repeat :  http://www.reuters.com/article/2012/05/16/us-usa-debt-obama-idUSBRE84F11720120516

Boener: House Speaker Boehner reopens debt limit brawl :  http://www.reuters.com/article/2012/05/16/us-usa-congress-debt-idUSBRE84E0RY20120516

My bet is that these development will fire up gold price and send it above $2000.

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