It doesn’t matter who is in charge – buy gold

America's politicians have indulged in unedifying squabbling over the US debt ceiling. But when it comes to borrowing, Britain's politicians are hardly models of responsibility. It's up to the markets to regulate government spending – which explains the bull market in gold, says Bengt Saelensminde.

I'd love to be a fly on the wall of Capitol Hill this weekend. The politically charged fight to lift the US debt ceiling is going to have big repercussions for the markets next week.

What's going to happen? Well I think the threat of a market blacklash will keep the politicans in line.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Bengt graduated from Reading University in 1994 and followed up with a master's degree in business economics.

 

He started stock market investing at the age of 13, and this eventually led to a job in the City of London in 1995. He started on a bond desk at Cantor Fitzgerald and ended up running a desk at stockbroker's Cazenove.

 

Bengt left the City in 2000 to start up his own import and beauty products business which he still runs today.