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Cynical Thoughts on the Debt Ceiling Game

Jul 252011
 By , July 25, 2011

Item: The Republicans keep walking out of talks on the debt ceiling adjustment. When they don’t walk out, they insult the President until HE walks out.

Item: Donald trump has advised the Republicans not to pass a new debt ceiling no matter what deal they are offered.

Item: The price of gold went vertical in trading for a full 45 minutes this morning, reaching a new high of over $1,623 before settling back a bit to what was still a new high.  This was the first day of trading after the talks failed over the weekend. In general, any event that weakens the U.S. economy increases the price of  gold futures.

What if this whole charade is a cynical move to manipulate the price of gold to make some people who bundled commodity derivatives even richer? Goldman Sachs for example?

Why not? Isn’t that pretty much analogous to what they did to real estate? Would they pass up a chance to do it with gold when they can receive almost overnight returns?

Be seeing you.

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The Town Scryer is a mixed bag of humor, socio-political observations and ephemera from the perspective of a eclectic Pagan veteran of the counter-culture. Philip Posehn's main blog is at The Town Scryer.

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