Another financial nuclear bomb -> “Automatic Trigger”.

Deadlines for the Congressionally appointed special joint “Super Committee” – which includes 12 members of Congress, “six from the democratic and six from the republican” – to provide a comprehensive debt reduction plan are fast approaching.

November 23rd, the day before Thanksgiving, is deadline for the committee to vote on a draft plan that provides at least $1.5 trillion in cuts to the national debt.

Otherwise, the “Automatic Trigger” will be fired and there will be $1.2 trillion of automatic spending cuts to defense program budgets.

Moody/S&P announced if the politicians can’t come out a deal before 23 Nov, there will be a very high chance to downgrade the nation from AA to A credit ranking as it implied the government is not functioning well for handling financial/debt crises …

Friends, I believe the democratic will reject the deal suggested from republican and vice versa.
It happened in the Aug raise debt ceiling crises, remember?

If US may be downgraded again, there must be panic, there will be a Gold rally.