Democrats Healthcare Crashed Bond Auction Restricts Gold Ownership Interest Rate Rise

[KissMy]

Democrats Health Care Debt Crashed Bond Auction. Interest Rates Rise Bringing Down Stocks That Were Rallying. Obama Has The CFTC Restrict Gold Ownership To Prevent Citizens From Exiting The US Dollar.
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The bond bears were out in force Wednesday and Thursday, as the government auctioned billions more in debt.

Stocks drifted quietly lower Wednesday, but the selling action in the Treasury market was fairly dramatic. The government's auction of $42 billion in 5-year notes went poorly, pressuring an already sagging Treasury market and driving yields higher. Now, The auction Thursday of $32 billion in 7-year notes are also weak.

On Thursday, the Commodity Futures Trading Commission (CFTC) held a day-long hearing to discuss the possibility of enacting position limits in the gold, silver and copper markets.

 

[KissMy]

CNBC - Why the Bond Auction Fizzled: Fears of a 'Fiscal Train Wreck'

The results of today's Treasury auction were a shot across the bow of the government.

And, according to David Zervos, head of fixed income strategy at Jeffries, may be an indication of just how skittish some investors are feeling about the fiscal soundness of the United States, in light of big government spending for health care and other costly programs.

“It’s the health-care realization trade,” Zervos told CNBC, post-auction, from the firm’s trading floor. “We’re coming to grips with the fact that we have a Congress that’s ready to go, and spend.”

Zervos, who worked at the Federal Reserve in Washington, DC last year as a visiting advisor, also characterized the government’s recent initiatives as a “fiscal train wreck” that shows a lack of restraint. He predicted the health-care bill will yield trillions of dollars in debt (marketable).

Investors showed scant interest in the latest round of debt auctions: Depressed demand today in five-year note sales pushed Treasury yields up. The $42 billion sale drew a yield of 2.065 percent, full 10 basis points, or 0.10 percentage points—up from the where the five-year was trading when the results came out at 1 p.m.

Jefferies’ Chief Financial Economist Ward McCarthy agreed with his colleague and told CNBC, “There’s a lot of concern about what’s happening on a fiscal basis. We have enormous budget deficiencies, and Congress and the Administration really have done nothing to address that. In fact, the recent legislation on health care is going to increase our budget deficits by over a trillion dollars.”

 

[tigerbob]

What a tortuous title for a thread.

 

[Paulie]

The position limits are not going to see the light of day. Most who testified shot down the idea.

It won't get any traction.

But thanks for trying to sensationalize the story anyway

 

[uscitizen]

LOL, I doubt if there is enough gold in existence now for all those who think they own some.

 

[Paulie]

LOL, I doubt if there is enough gold in existence now for all those who think they own some.

This doesn't make any sense.

 

[KissMy]

The position limits are not going to see the light of day. Most who testified shot down the idea.

It won't get any traction.

But thanks for trying to sensationalize the story anyway

It does not matter if those who testified disagree or if the people want it. This administration has proven it will go against the will of the people. Just like FDR confiscated Gold in 1933 & limited Gold ownership so it could revalue the currency, this administration has the will & ability to do a similar thing.

"CFTC Eyes Position Limits for Gold, Silver"

Gene Arensberg writes: "the position limits under consideration by the U.S. Commodity Futures Trading Commission will serve only to impede investors in commodities while doing nothing to inconvenience the commercial shorts, who long have been suspected of being in league with the U.S. government in a policy of price suppression."