Gold surges 2%, enters bull market on Comex.
By Myra P. Saefong and Barbara Kollmeyer
“The federal government runs out of credit sometime in October, which will force a federal debt ceiling confrontation between President Obama, who doesn’t want to negotiate, and the Republicans, who may use this to push for additional cuts and defund Obamacare,” he said.
“This will coincide with the end of the federal government’s fiscal year (September 30), of which Congress will struggle with either passing another continuing resolution or its first budget in five years,” he said. “And if there are no significant budget cuts, a second round of sequestration cuts begins on January 1, 2014.”
Read the full piece at Market Watch.
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