Joe Biden and GOP reached agreement to raise the US ceiling to avoid what could have been a catastrophic default leading to financial chaos and social unrest. In simple terms, raising debt ceiling means printing more money. Furthermore, the so called deal only has a validity of 2 years and this drama episode will unfold in the blink of an eye. Politicians are again kicking the can down the street. Excessive money printing will no doubt erode spending power, thus, paving a strong supportive foundation for gold and silver prices in time to come.
