Gold Pressures, page-2

And don't forget the US is close to a civil war, surrounding the approaching debt ceiling.

As a result, the next round of debt-limit brinkmanship could be the most fraught on record — as evidenced by the battle over the speakership. Conservative Republicans have already made clear that they would not pass a debt-limit increase without significant spending curbs, likely including cuts to both spending on the military and on domestic issues not related to national defense.

https://www.nytimes.com/2023/01/07/us/politics/speaker-election-debt-limit-republicans.html

On Thursday, Ms. Yellen began what is likely to be a monthslong process of using the extraordinary measures to delay a default. In her letter, she said that she was initiating a “debt issuance suspension period” that would last through June 5, and that Treasury would no longer be fully investing the portion of the Civil Service Retirement and Disability Fund that is not immediately required to pay beneficiaries. Treasury investments in the Postal Service Retiree Health Benefits Fund are also being suspended.

Ms. Yellen will most likely have to take additional steps if the stalemate drags on. Determining the actual “X-date,” when the United States will not be able to pay all its bills on time, is difficult because it depends on how fast tax receipts are coming in and the performance of the economy.

https://www.nytimes.com/2023/01/19/us/politics/debt-limit-economy.html

Popcorn, anyone?