America will endure until the day Congress discovers that it can bribe the public with the public's money - Alexis de TocquevilleI mentioned twice in November that the Fiscal Cliff would be averted with a last minute deal that would postpone America's budgetary day of reckoning. And of course the clowns in Congress and in the White House once again did not fail to disappoint.
I just came across a fact about that new agreement that you will definitely NOT see mentioned in any of the mainstream media - yesterday's deal included an extenstion of a big tax break for Hollywood: Movie Mogul Tax Break and for Warren Buffet: And For Railroad Owners The latter will benefit Phil Anschutz, Denver's local zillionaire. I guess Buffet's big fundraising dinners for Obama paid off nicely. I'm sure Phil takes care of the The Big O as well.
At any rate, I wrote piece published on Seekingalpha that explains why yesterday's Cliff deal will help grease the set-up for the next big run in gold/silver: "the Fiscal Cliff deal will now lead to a much higher Treasury debt limit ceiling - if not the complete elimination of it, which has been proposed by Obama - and a much higher level of QE. How do you invest knowing this ahead of time?" Here's the LINK
Next on deck will be the dealings over the debt ceiling limit, which was breached in late December. You can be sure that Congress will pass a huge ceiling raise, if not a total elimination of the ceiling, because otherwise they won't get their paychecks and Harry Reid, John Boehner and Nancy Pelosi will have to furlough their limo drivers...