Saturday, September 20, 2008

Government bailout more like government copout!



Well folks the house of cards in the financial markets have started falling and we are in trouble according to all the great thinktanks and politicians. Where were they the past 5 years when people saw this coming?. Polticians and the great financial gurus never see crisis coming. Think about it... the great depression, the 1987 stock market crash, the recession following 911. Now its happened again and what is their answer? To dump 85 billion dollars into failing banks while we already have a deficit approching the trillion dollars mark! WRONG MOVE FOLKS! In a captalistic society we are suppose to let only the companies with a strong foundation survive. These companies were failing due in part to borderline criminal practices of giving loans to anyone who would take it. Sub prime sums it up. Well now all this money they are going to dump into helping these companies will flood the market with even more dollars which will bring down the value of our dollar. Inflation is a sure bet. Gold prices have already risen approx 100 bucks in the past couple weeks and will surely rise further as we see this crisis unfold.


Remeber that all societies built on a currency other than gold or silver for that matter follow exactly the same pattern eventually. They produce a fiat currency(one that cannot be exhanged for gold or silver) and keep producing this fiat currency when the masses realize the fiat currencies buying power is worth less and less as time goes on. As the fiat currency value falls it brings down the economy and the governements solution is always to pump more money into the system by printing more. This will always bring the value down even further. Gold and silver prices always rise in this situation just like they are now. Ive read and heard statements that gold prices will hit over $3000 per ounce in our current financial crisis. I truly believe gold and silver are the secure place to put my money in these terrible times.


Once again are government has done a bang up job.! Hows about cutting all of our congressman and senators salaries or having them use the same type of pension/401k plans we have to use. Ill bet this crisis would not have happened then!

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