I know you aren't big on gold, but you may have been a bit premature in your statement
"In fact, it looks to me like the gold party is over --- finito --- kaput."
I think increasingly there is an awareness of the awful state of the US economy, the world economy, and gold is benefiting. The global debt is astounding and exploding, and there are few safe harbours. Most countries are desperately trying to prop up the $US to keep the party going, and competitive devaluation of currencies with interest rates heading south are still on-going. Low interest rates translate into encouraging more debt. And the FED has made no secret that they are willing and prepared to keep priming the pump, (print more money) to get the economy moving.
Personally, I am positive short term and long term on the POG.
my.voyager.net
As an aside, I listened to a debate, Dem. vs. Rep. about the US budget & debt. The Republican stated that increasing tax has the effect of decreasing the total pile ultimately causing a net reduction in tax receipts. Therefore, the answer is to decrease the tax burden which gets business going and will result in actually collecting more.
I say give me a break! No discussion about the huge and increasing costs of welfare, medicare, pensions, military etc. Some people actually believe that kind of prattle. Using that logic to its fullest would result in no taxes. Great!! No government, no services, no military no education no.........
Phil |
