[HN Gopher] Gold Is Worth More in New York
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Gold Is Worth More in New York
Author : ioblomov
Score : 5 points
Date : 2025-02-13 19:25 UTC (3 days ago)
(HTM) web link (www.bloomberg.com)
(TXT) w3m dump (www.bloomberg.com)
| ioblomov wrote:
| https://archive.ph/5DEdv
| basementcat wrote:
| Is this related to the sovereign default scheduled to happen
| within a month?
| AnimalMuppet wrote:
| Um, what sovereign default scheduled to happen within a month?
| Without some detail (and some supporting evidence), that sounds
| like conspiracy theory drivel. It also, frankly, sounds
| unrelated to the article.
| basementcat wrote:
| The US Federal government reached its limit on borrowing on
| January 21 and is currently taking "extraordinary measures"
| to avoid a sovereign default. There is currently no agreement
| to raise the debt limit in Congress. While there is some
| variability in spending (e.g. natural disasters may cause the
| federal government to spend more money for FEMA aid), the
| sovereign default is expected to occur in about a month.
|
| https://www.voanews.com/a/us-treasury-to-launch-measures-
| tue...
| jddj wrote:
| > Depending on who is doing the research, it is said that
| the US has raised its debt ceiling (in some form or other)
| at least 90 times in the 20th century.[1]
|
| [1] https://en.m.wikipedia.org/wiki/History_of_the_United_S
| tates...
| bwestergard wrote:
| While I would never be so bold as to venture a
| prediction, the risk of a partial default seems elevated.
| No previous administration has voiced the opinion that
| partially defaulting by halting payments from the
| Treasury would be a legitimate exercise of executive
| authority.
|
| "Musk said in social media posts over the weekend that
| his "DOGE team" of enforcers is shutting down some
| payments, claiming that "corruption and waste is being
| rooted out in real-time."
|
| If the Musk team veered into legally legitimate
| transfers, that could spark debate over whether the
| federal government is following through on its
| obligations. Former Treasury Secretary Janet Yellen said
| repeatedly -- during debt-limit standoffs -- that even
| prioritizing some payments ahead of others amounted to
| "default by another name." Trump's first Treasury chief,
| Steven Mnuchin, said in 2017 that "the government should
| honor all of its obligations."
|
| https://finance.yahoo.com/news/musk-moves-treasury-risk-
| deba...
| arduanika wrote:
| Ah, the debt ceiling news cycle. Is this your first time?
| mattnewton wrote:
| I know how many times it's been cried before, but I am
| worried this time there might actually be a wolf.
| epistasis wrote:
| For those interested in broader NYC gold discussion, this recent
| Bloomberg podcast interviews a gold dealer in the NYC Diamond
| District:
|
| https://www.bloomberg.com/news/articles/2025-02-14/gold-pric...
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(page generated 2025-02-16 23:00 UTC)