You don’t need a crystal ball to divine the future of the gold market.
Posted by Adam King on June 06, 2011
The birth of a powerful new force in the gold market.
June 06, 2011 – You don’t need a crystal ball to divine the future of the gold market – you just need the daily newspaper and an open mind. Follow the battle over Medicare and you get a very clear picture of where the country is headed.
Medicare exemplifies the deeply rooted sense of entitlement that has grown over the decades into the highly illogical and self-destructive sentiment it is today. “Normal humans don’t relish making informed decisions about things they’re not sure of, and that carry big personal implications,” say the Wall Street Journal’s Peggy Noonan. So we leave it up to the politicians to pull some rabbit out of the hat.
We have grown accustomed to telling our politicians “to go to Washington and bring home the bacon,” says former Senator and co-chairman of President Barack Obama’s debt commission Alan Simpson. But “you can’t bring home the bacon anymore, because the pig is dead.” Small wonder that Ms. Noonan says “It is a long time since I’ve seen such transparent demagoguery, such determined dodging.”
Bubbling up through all the rhetoric is “the first great buzzword of the new decade—‘unsustainable’,” Noonan says. Deficit spending is unsustainable. Quantitative easing is unsustainable. And unfunded entitlements are unsustainable. Yet somehow the American people continue failing to grasp the real implications of the concept.
It’s really quite simple: keep it up and “we are going to near our endpoint as a nation,” Noonan says. And the most bitter pill we must swallow is that “the culture of Washington will kill any serious attempts at reform.”
The message is abundantly clear. We must stop turning to Washington, expecting the government to ensure our way of life will endure. A sea change in American attitude is in the works and when it emerges people by the tens of millions will start taking back their lives.
As reason prevails individual investors will turn to gold en masse to preserve their wealth, creating a demand so powerful that it will redefine the drivers of gold market prices, sending them to once unimaginable highs.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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