Tag Archives: debt crisis

All that Glitters: Gold hits $1600 an Ounce as People Lose Faith in the Western Governments and Western Currencies

As the socialist democrats play chicken with the debt crisis in Washington DC and as the governments of Europe split on how to deal with their debt fiasco its becoming increasingly clear that our western governments have failed in dealing with the financial crisis. As much as the rest of the world is loath to admit it; our western financial mess will tank the world economy when we reach critical mass and sovereign debt begins to be defaulted on. In America, a two party system, it’s a fact that one of the two party’s is entirely dependent on providing ever more extravagant social programs and so if you take spending away from the socialist democrats they have no party left. Democrats have abandoned their principles years ago in favor of a strictly “bring home the bacon” world view and their politics of division means that they now view patriotism and any good feeling about this country as “republican propaganda.” Democrats maintain their supplicants by dividing the nation into controllable voting groups, convincing them that they are a persecuted minority; con their leaders into accepting Democrat legislative protection and then they harvest the vote while never actually solving the problems.

This works great until you have a problem, like the financial crisis, that actually needs a real solution. We need the spending spigot to be turned off, now, and for the foreseeable future. The socialist governments of Europe don’t have the money to pay for their lavish social benefits and are facing default on their ever increasing debt and here in America we’re doing our best to pretend that we don’t have a spending problem at all. The sane people, who remain, around the world, are looking at our government’s failure to solve the financial crisis and they’re turning increasingly to Gold because neither the Euro nor the Dollar seems to be worth much these days. As Western Governments are increasingly revealed as too weak to fix the financial woes of the world: it’s only natural that the world’s wealth will find its way into units of value that are not dependent on government to maintain that value. Hence we’re seeing Gold take off like a rocket, again, as faith in our politicians craters once again. Our elected representatives are unable to take unpopular but necessary actions for the good of the country but instead while away the hours figuring out how to fix the blame on the other party.

The Debt Crisis is like Marley’s Ghost, with chains clanking, and the unearthly groans of the utterly dammed, trying in vain to get our attention. At least Ebenezer Scrooge opened a dialog with the Ghost; he faced the apparition and worked the problem to the salvation of his soul. Our Ghost is, in fact, Franklin D. Roosevelt’s Ghost who now wears the crazy Marxist programs he forged in life; as he watches the nation he lead come apart at the seams because it’s no longer administering the social programs——- the social programs are governing us. As Marley and Scrooge sold their soles to the quest for profit; the Marxist Democrats have sold their soul to redistribution of wealth as a means of maintaining power and extending control over the people. As the Ghost of Roosevelt stands in the center of the Oval Office groaning and clanking its chains while the cancerous programs it spawned threatens to kill the United States: Obama sits in the oval office, oblivious to the cancerous spending, unwilling to compromise with evil capitalists, ghosts of presidents past, or anyone else, because he’s too engrossed on planning yet another vacation.

Sixteen Hundred Dollars for an Ounce of Gold! As the Congress abdicates is responsibility for love of the cowardly McConnel plan and as Obama lays the foundation for blaming the Republicans when the debt talks fail and as the hapless Germans stand alone in Europe for fiscal sanity gold is on a tare. As our governments continue to fail us look for more and more people and organization around the world to turn to gold for wealth preservation. Sixteen Hundred Bucks an ounce with no end in sight! For more on Gold consider this article from Bloomberg.com:
http://www.bloomberg.com/news/2011-07-18/gold-rallies-to-record-in-best-run-since-1980.html