Tuesday, February 5, 2013

Suspension of the Debt Ceiling

“But here's the really important point: These two words used by Bloomberg in reporting this event – temporarily suspend – are chilling… These are the exact same two words that Nixon used in his August 15, 1971 speech announcing that he was breaking the dollar's link to gold. “His temporary suspension has now lasted 42 years, which is the key point I am making here. This suspension of the debt ceiling is not going to be temporary. Each time it comes up for consideration, the politicians will just keep extending the suspension again and again. They will always take the soft political option.”

- Source, GoldMoney Research:

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