DEBT DEAL= HIGHER INTEREST RATES SHORTLY AND HIGHER GOLD PRICES EVENTUALLY

I predict the US debt ceiling bill now passed will unleash Biden for an orgy of new spending which has to be funded by the Treasury auctions.

The buyers of those auctions- largely American money market funds- will have a field day forcing up the interest rates (and therefore their profits), and the Treasury will have to pay. As a preview of what happens …