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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 409.23

-1.0%

Jan 7 4:00 PM EST

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From: gold$10k	3/4/2007 10:58:06 PM
	of 29622

On "60 Minutes" tonight, the 2nd segment was about how the Comptroller-General of the United States, David Walker, having given up on spurring politicians in Washington to action, has been touring the U.S. to make his case directly to the citizenry that government overspending is moving the country towards bankruptcy. No one disputes his figures as he argues that some combination of higher taxes and lower entitlements (primarily Medicare and Social Security) is necessary to avoid disaster, but no politician wants to be seen favoring any of that. This is no surprise to any of us who see that the path of least resistance is to inflate the debt away which will eventually drive the price of gold to the moon. Of course, that possibility is not mentioned on TV.

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