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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED)
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From: Tommaso10/20/2013 11:54:01 AM
3 Recommendations

Recommended By
Greg from Edmonton
Ms. Baby Boomer
polarisnh

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It's funny how to some people, truth is a form of sarcasm. I guess that was what got Socrates in trouble.

Arguing by way of analogy can be a lazy and misleading way of getting at the truth. But what the U. S. Treasury has been doing for some years is to pay bills by drawing on an overdraft account. But instead of the banker (the Federal Reserve) setting the credit limit, the borrower itself (the Congress) sets the limit (the debt ceiling). Then Congress fights over which bills to pay somewhat like an acrimonious kitchen-table dispute in a family that is drowning in debt.

One solution that no one has the courage to suggest now is to raise taxes.

Also, no one dares to suggest big cuts in military spending.

All that's left is to try to sabotage the Affordable Care Act.

To continue the bad analogy, I find myself in the position of watching a neighbor (or retail chain) go bankrupt and waiting for the yard sale, while I keep my assets intact.

I think that even Warren Buffett, sworn enemy of gold and admirer of Ben Bernanke, feels that it's hard to find any bargains in the stock market.

To drop any analogies, the federal government is, simply, bankrupt. It has given itself a credit extension of three months.

I am keeping about 20% of my net worth tied to gold. Recently took a short term flier on the Swiss Franc via FXF just for fun.
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