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Tag Archives: Debt Ceiling

Political Theater: SchiffGold Friday Gold Wrap July 23, 2021

Pop some popcorn. It’s time for some political theater. Congress is gearing up for another debt ceiling fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharey gives you a preview of the next big Washington DC blockbuster production, complete with some debt ceiling history and an explanation as to why we shouldn’t need one. Maharrey also covers retail sales, inflation and the latest movement in the gold market.The SchiffGold Friday Gold Wrap podcast combines a succinct...

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Brace Yourself for Another “Debt Ceiling” Fight

Here we go again.The clock is ticking down to another US debt ceiling battle.The Congressional Budget Office projects Uncle Sam will run out of money this fall, likely in October or November. “If that occurred, the government would be unable to pay its obligations fully, and it would delay making payments for its activities, default on its debt obligations, or both,” the CBO said in a statement.In 2019, Congress suspended the debt limit for two years. That suspension ends on July...

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US Government About to Bump Up Against Debt Ceiling Again as Spending Continues Unabated

US Treasury Secretary Steve Mnuchin said the Trump administration and congressional leaders are getting closer to a deal to raise the debt ceiling.Meanwhile, the US budget deficit is has increased by 23.1% year-on-year through the first nine months of fiscal 2019.Mnuchin wants Congress to go ahead and raise the debt ceiling before the August recess because analysts now think the government will hit its borrowing limit earlier than expected.According to a report by , a study by the...

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Easy Street Is Paved With Gold: Schiff Gold Friday Gold Wrap July 12

Jerome Powell took center stage this week and the Federal Reserve chair didn’t do anything to dampen expectations of a rate cut. That sent both stocks and gold higher. The yellow metal pushed back above $1,400 after tanking in the wake of last Friday’s June jobs report and stocks swooned. Everybody seems to love Easy Street. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down what the Fed chair said and didn’t say. He also debunks the “there is no inflation”...

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China’s Raging Against Dying Of The Light (Or Why Peak Employment Is Imminent)

Authored by Chris Hamilton via Econimica blog, China's working age population is clearly defined as those aged 16 to 50 years old for females (55 for "white collar" females) and 16 to 60 years old for males.  China mandates retirement at these outer age limits.  Perhaps of some interest should be that this working age population peaked in 2011 and has been declining since.  This decline will continue indefinitely as China has a collapsing childbearing population (detailed HERE), net...

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How The Fed Destroyed The Functioning American Democracy And Bankrupted The Nation

Authored by Chris Hamilton via Econimica blog, I hope this article brings forward important questions about the Federal Reserves role in the US and I openly admit this is by no means a comprehensive article...it simply attempts to begin a broader dialogue about the financial and economic impacts of allowing the Federal Reserve to direct America's economy. Against the adamant wishes of the constitutions framers, in 1913 the Federal Reserve System was Congressionally created.  According to the...

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The Dollar Funding Shortage: It Never Went Away And It’s Starting To Get Worse Again

Very quietly, in the last few weeks, cross currency basis swaps (CCBS) related to the dollar have reversed their rise and started moving deeper into negative territory… again. This might not be of much interest to buyers of global equity markets at this point, but it is signalling ominous signs of growing funding stress in the financial “plumbing”. As Bloomberg notes   “cross-currency basis swaps, which money managers and corporate treasurers outside the U.S. can use to borrow in dollars,...

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Key Events And FX Week Ahead: Central Banks Send Markets Into A Coma, Someone Say Something New Please!

European politics returns with a bang this week, when not only will attention be focused on Austria to see if the right wing Freedom Party joins the People's Party in a historic governing coalition, in an embarrassing blow to Europe's establishment, but also whether Catalan President Puidgemont will (again) fomally - and this time clearly - announce whether he has declared independence as Spain's PM Rajoy demanded last week. Elsewhere, EU leaders meet on Thursday to discuss the progress of...

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“The Democrats ObamaCare Is Imploding” Trump Tweets Hours After Cutting Off Obamacare Subsidies

It was an early morning for a seemingly excited, insomniac Donald Trump, who shortly before 6am tweeted on the topic of the night, namely the late Thursday elimination of subsidies to health insurers, which took place just hours after the president signed an executive order to designed to draw people away from Obamacare coverage markets. "The Democrats ObamaCare is imploding. Massive subsidy payments to their pet insurance companies has stopped. Dems should call me to fix!" The Democrats...

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White House Reveals What It Wants In Exchange For Keeping “Dreamers”

On Sunday night, the White House revealed that it is seeking more funds from Congress to fund Trump's wall along the U.S.-Mexico border, more resources to hire thousands more immigration officers, cutting the number of new legal immigrants and generally demanding a steep price for legislation under consideration to help so-called Dreamers. According to the WSJ, "the White House documents, sent to congressional leaders in both parties on Sunday, amount to a lengthy wish list of longstanding...

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