Gold Closed Today at $1,001.80

My prediction that gold would hit $1,000 per ounce by the end of March came a little early when gold closed today at $1,001.80.

It took nearly 6 months after the 2008 financial panic that gold is finally is starting to glitter.  I was surprised that the price was held so low since the demand for the precious metal is so high.

I still find it hard to purchase gold sovergns, eagles or any other types of coins and must result to carrying large sums of money in the chance the I can find any dealer in town that has a supply I can buy.

How high will go is anyone’s guess. But with this unrelentless printing of fiat money, it will only go higher.  My guess is that once Congress decides on another trillion dollar deficit 2009 budget — which is 6 months late — gold is going way up.

Congress Should Drink Lean One Shakes to Reduce Deficit

Congress needs to go on a diet to reduce deficit spending.  Perhaps they should drink lean one shakes like Sarah Palin did to drop 4 dress sizes.

Just imagine if our deficit was only 1/4 the size of what it currently is, we could go on a shopping spree to rebuild this country and get off oil dependence once and for all.

Yes, Congress needs to go on a diet, and lean one may be our only hope.

When Will Gold Hit $1000? Soon.

I predict that gold will hit $1000 mark by the end of March 2009.  I’m so confident that the dollar is dying with all this deficit and reckless spending by our Government, that Gold may be our last resort to preserving our wealth.

There may be some resistence to pass the $1000 mark, but 2T in bailout money — that does nothing to solve the bankrupt banking system — will serve nothing more as a catalyst for higher prices.

Michael Phelps Bong Picture: A Gold Medal Toker

Olympic Gold Medal swimmer Michael Phelps hit the news today or should I say, the news caught him in a picture taking a hit from a bong.  I don’t want to sound prudent — because in every right I’m just as bad as Michael Phelps — but what he did was wrong.

I’m not going to argue that Marijuana has it’s qualities and perhaps is the “wonder drugs” that God or this planet freely gives to us to cure a wide range of aliments from Glaucoma to Alzheimers; I’m not going to argue that Hemp probably is the most resilient textile product and endless renewable energy resource; but, what I’m going to argue is that because Governments know these facts, they keep the plant illegal.

Thus, the fact that Marijuana is illegal, will drive the market to criminal organizations that trade in the product.  This highly corrupt and competitive market leads to crime and ultimately murder of both innocent and guilty parties.

Even though the argument is often used that Marijuana is a harmless drug, to deliver the product to the end user came with a hefty price attached and legalized Marijuana is the the only solution to endless crime and murder to support the underground infrastructure.

I don’t have a problem with Michael Phelps taking a bong load; but, as all users of the drug, we need to understand that we are indirectly hurting innocent people in the long run.