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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.18

-0.5%

Oct 31 4:00 PM EDT

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From: Tommaso	5/19/2012 3:00:42 PM
	2 Recommendations Read Replies (2) of 29622

There are several routes to national bankruptcy for the United States. 1. Repudiate all or some of the national debt. 2. Let the Fed continue to create money to buy the debt until the currency loses most of its value. 3. Have the Fed restrict currency growth and raise interest rates. This would soon raise the interest due on the debt to something approaching the entire GNP, and force option # 1. 4. Some combination of all three. The time is past to raise taxes enough to service the debt, and Congress won't even try to do that. A massive capital levy would be necessary and that would require a dictatorship. Abolition of Social Security and Medicare also seems unlikely. The whole system needs to be reset, with a constitutional limit on money creation by the government. Owning gold is among the few options for individual citizens, who may risk finding themselves branded or criminalized for doing so. The only precedents in the U. S. for the current fiscal situation are the Continental Congress and the Confederate States of America. The Greenback era seems cautious, even reactionary in comparison with what we have right now.

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