Gold hits new high at $1616.89 on debt worries (Breaks $1620)

Reuters ^ | 7-24-11 | Sonali Paul

[Atlas Sneezed]

Gold hit a fresh high at $1616.89 an ounce on Monday on growing worries over talks to raise the $14.3 trillion debt ceiling and avert default.

Markets are on edge with politicians nearing an August 2 deadline to raise the debt ceiling.

[Atlas Sneezed]

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[sanjuanbob]

Any good rivers in California to pan for gold?

[television is just wrong]

well from what I understand there is no gold in fort knox anyway so our money value is negotiable, not on any gold standard or anything like that.

[Terry Mross]

This is the government run press crying “wolf”.

[Bean Counter]

[MeneMeneTekelUpharsin]

So what?

[Atlas Sneezed]

So what?

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Ask Reuters why they thought this was important enough to report.

[Munz]

Obamaa’s fear mongering ..

[Munz]

I think this is the people and countries buying in response to Obama’s ineptitude.

[sten]

hong kong market opens... gold spikes as they buy
US market opens... gold drops as we sell

this has been going on for almost 2 years

yup, this should really help America

[sten]

for the mentally challenged, let me help you out

when gold rises in price, other commodities will also rise in price. think cotton, oil, corn, etc

welcome to the deflation of the dollar and continued inflation of prices

they want $10/gal gasoline... and it’s on it’s way.

they are just trying to have a ‘managed’ decline. if the dollar collapses too quickly, then it’ll waake up the frogs in the pot. keep it on a slow boil, and they won’t wake up until it’s too late

[MeneMeneTekelUpharsin]

Let me help YOU out and we won't even discuss mental aptitude. I meant what I wrote, "So what?". What are you and all of the other hotheads going to do about it? This insane, out-of-this world circus has been going on for years and no one has enough support to do anything about it. It's not going to happen. So, posting how high gold went, how much inflation is affecting the economy, blah, blah, blah, ad nauseum is not going to change a thing.

I am so tired of this whole charade with no solutions. The public education system is a microcosm of society as a whole. Almost nothing is done in school to teach children proper thinking, skills, values, procedure, etc. because liberal parents simply will not tolerate it. So, if YOU took over, you wouldn't even be able to govern the people, they'd hang you. So if you can't fix it at the bottom where people begin, how do you plan to fix it where the action is?