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Politics : View from the Center and Left
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To: Steve Lokness who wrote (103919)2/11/2009 7:07:39 PM
From: Bread Upon The Water  Read Replies (2) of 542004
 
Thank you.

I do follow the price of gold very closely and am invested in a precious metals fund. I keep remembering the 70's when gold went from $200 to $800 an ounce in a relatively short time period (because inflation was rampant from fighting two wars--the war on poverty an the VN War) The equivalent today would take it from about $900 to over $3500 an ounce.

I really don't want to see that happen as it must mean that inflation is rampant and the stimulus has failed.

I become very suspicious when the government stopped publishing the M3 figure which was indicative of how much money was in circulation. Why would they do that unless that was an unfavorable figure?

I've also read that there is a mechanism in place to let the government confiscate any physical gold you own under some kind of emergency provision. And that FDR actually invoked this in the the 30's.
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