Today, the price of gold per ounce jumped nearly $90 on fears of a collapsing economy. Investors and ordinary citizens are rushing out and buying gold in droves. I’m pretty sure that gold can easily reach several thousand dollars per ounce.
The nationalization of debt continues to put downward pressure on equities and a forthcoming collapse of the dollar. No wonder that polls now show Obama leading McCain by +5 when only Monday the rolls were reversed with McCain leading Obama by +2.
McCain who throughout his career has been a strong advocate for deregulation that only brought us to the brink of bankruptcy. Now he changes his life-long position after the stock market drop %10 in two days? The economy is fundamentally strong he says. What planet is this guy from?
Laws written during the Great Depression that were meant to protect us were broken and not enforced by the current Administration. There’s a reason for deregulation: we’re greedy bastards.
So go out and get your gold while you can because if history repeats itself, I’m sure the government will steal it from you (I mean “nationalize it”.)