RE: RE: Is Gold about to breakout? The Tea Party group won't pass another QE
Congress doesn't have a say (direct official say) in QE. QE is monetary policy, congress controls fiscal policy. US fiscal policy is screwed in part because the republicans want to oust Obama. The republican party doesn't mind gambling with middle and lower class jobs. As Romney says, the waiters serving him at a $50,000/head dinner are hurting. (Of course if they win in November, Romney will expand fiscal policy because it is the right thing to do.)
...gold will get more of a boost from 1.) European money printing to hold Soverign bankruptcies at bay
The ECB doesn't have a QE toolbox but yes if they increase monetary union and introduce QE then it should be good for gold.
2.) Oblaghblagh meddling in the Middle East / Iran
I'd be more worried about a republican president doing that! I thought Obama was "feckless and lacking in courage" because he hasn't meddled enough? Doesn't Romney want to arm the Syrians rather than use diplomacy? Doesn't he support Israel attacking Iran? But maybe these are just things Romney says at the time - they rarely seem to match what he does.