The US Dollar Goes Up AND Gold Goes Up, Too
Think about this. Many people that vote in the US expect a president to "manage" the economy. They don't understand that that is not possible (read Hayek's _Fatal Conceit_ in addition to _The Road to Serfdom_). Some people elected a president that said before he was elected that he did not know anything about economics (and expect him to manage the economy). More recently he said that we cannot expect to spend our way out of this economic situation. And, just the other day, he reversed himself and said that we are going to have to spend our way out of this economic situation. Insanity, theft and con jobs are ruling in the US. Who in their right mind would want shares of USA incorporated, shares being the US dollar, particularly since the US government expects to spend an additional 1.5 trillion dollars this fiscal year that they don't have. Where are they going to get those dollars from?
This is rare, panicky dollar/gold action.
After an 8-9 year bull market in gold and silver a few people are just starting to wake up, just starting to get what is happening; that a financial/economic system can only take so much debt. That there is a price to be paid when governments add even more debt to an amount that is too much to begin with. A government fiat token can not be created without that amount of debt being created first either by the treasury or the central bank. When all kinds of financial instruments and government "money", "currencies", and other financial instruments start failing; that the last resort is atoms of gold, silver, farm land, oil, etc.
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The US government has to roll over, refinance (because the US Treasury is broke) over 2 trillion dollars of debt. Plus, it has to finance an about 1.5 trillion dollar deficit in this coming fiscal year. Who is going to buy over 3.5 trillion dollars worth of debt from the biggest, baddest, record breaking, incredibly irresponsible debtor in the world?
The rest of the world's economies are having a tough time, therefore there simply are not enough savings in the world to buy US debt like there used to be. It looks like it is time for the Fed to play "make believe" "let's pretend", accepting I.O.U.s from the US Treasury, putting them on the Fed's books as an asset beefing up their "reserves", allowing them to create more US dollars out of thin air and sending them over to the US Treasury in return for their debt. It's fantasy time, in a big way, for the Fed and the US Treasury. The more dollars they create, the more **value** they steal that is stored in existing dollars. What a huge scam/heist, which is the whole point to having a central bank to begin with.
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"The U.S. is third worlding."
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Time Magazine gives Ben Bernanke the Person Of The Year Award. No kidding. A man with no banking experience, no financial market experience and no business experience. The text on Time's web site about this award is completely mindless. That should reflect who reads Time. That is as dumb as giving Obama the peace prize as he increases war spending. Insanity rules out there. Ya can't make this stuff up. Truth is stranger than fiction.
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U.S. already $292 bln in the red this year - CBO
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Wait till most people wake up to this fact. "There is no rush like a gold rush.". Amongst a few, panic is setting in. When "money junkies" control a government, watch out!