2. The bail out of the Euro is merely printing money backed by no productivity and throwing it into a forever widening and deepening black hole of socialism from which there is NO escape.
3. Obama's primary mission is to create the largest welfare and entitlement state in the history of the world. He intends to accomplish this through the total destruction of capitalism, the total destruction of freedom and liberty, and the subservience to his government of the individual. To these ends he will spend and TAX us into oblivion to a point beyond which there is NO recovery. By all indications, he has already accomplished this goal.
See. This is why I, and Rush, hoped he fail.
The last time Gold soared this quickly was during the Stagflation years of Jimmy Carter.
Those were the years of double digit inflation and unemployment, double digit interest rates AND high oil prices ( I remember the gas lines after price control was instituted ).
That’s as far back as I can remember when I started to be aware of financial matters.
Today is a little different.
* OFFICIAL ( note the caps ) inflation is tame
* Unemployment is high like in Carter’s time
* Interest rates are rock bottom unlike Carter’s time
* Oil prices are high but we don’t have price control (yet) and long gas lines.