An economic revolution is coming — a revolution which will be peaceful if we are wise enough; compassionate if we care enough; successful if we are fortunate enough — But a revolution which is coming whether we will it or not. We can affect its character; we cannot alter its inevitability -
E.g., Jim Sinclair interviewed by James Turk YouTube
$Gold October closed lower on Friday and the low-range close sets the stage for a steady to lower opening when Monday's night session begins trading.
TI Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term.
First resistance is the 20-day moving average crossing at $1369.00. Second resistance is August's high crossing at $1432.90.
In effect, if we know what to look for, the world is on a Gold Standard now -
The price of gold is telling us that the Fed Ponzi is running at full tilt and that the ravages of having such a destructive mechanism at the heart of the economy are unraveling.
Because even with all that effort, the trend of the price of Gold is still higher and at some point the ability to keep it down will fail and then;
The Senate overwhelmingly ratified the deal Wednesday evening, 81 to 18, with more than half of Senate Republicans voting yes.
A few hours later, the House followed suit, approving the measure 285 to 144. Eighty-seven Republicans joined a united Democratic caucus in approving the measure, allowing Congress to meet a critical Treasury Department deadline with one day to spare.
The more fiat$ they print backed by only paper and air -
- the higher the Price Of GOLD will GO -
The Senate has apparently cobbled together a deal that will end the government shutdown and boost the debt ceiling -
history often repeat itself -
Price of gold after the 2011 debt ceiling deal was struck:
the debt ceiling extension agreement on August 2nd 2011, gold surged another 17% in 15 trading days after the agreement was reached.
From August 1st to August 22nd, gold rose from $1,619/oz to over $1,900/oz.
Why did gold rally, when the threat of a default was gone? It's because the statutory debt ceiling is more a target than any real cap on debt.
On August 3, 2011 the national debt of the United States surged $238 bln.
It was the largest one-day increase in the history of the United States, sending the debt to GDP ratio over 100% for the first time since World War II.
In a day, 60% of the new debt ceiling clearance was already gone. On August 5, Standard & Poor's lowered the credit rating of the United States from AAA to AA+.
The Budget Control Act of 2011 allowed the debt ceiling to rise in three incremental steps. The first was a $400 bln increase that began with presidential certification of the BCA. The second $500 bln increase occurred on September 22, 2011 and the third increase of $1.2 trillion on January 28, 2012 gave us a debt ceiling of $16.394 trillion.
There was a brief suspension of the debt ceiling between February and May of 2013 as part of the No Budget, No Pay Act of 2013. When the debt ceiling was reinstated, it had to be raised to the current $16.699 trillion level to accommodate debt accumulated during the suspension.
So here we are, butted up against the debt ceiling once again. And I don't know of anybody that's surprised by this reality.
Whatever the deal is that ultimately gets signed by the President, we'll have our new debt 'target'. And sure as God made little green apples, we will one day meet and exceed that 'target' as well.
How can the Gold Price Could Double Overnight in a Major US Dollar Devaluation Crisis!
history often repeat itself -
how the banksters 666 cult print more money to themselves and plunder the People slave fiat$ get less and less value - the robberies will continue of the People - the Rathscild cult nwo making sure about 666 continue - Gold will GO HIGHER -
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