Its funny to watch how the mainstream media has spun this "debt ceiling crisis." First we learn that there is a crisis: the gov't could default on its loans like so many families have in the past few years (heck, past few decades, really!) because of overspending. The consequences? . . . something terrible, certainly. A lowering of the country's credit rating, devaluing of our bonds and currency, senior citizens, disabled persons, soldiers and any others who rely on the gov't for their daily bread will go without for at least a month. Upsetting, at least, and possibly enough to lead to a stock market panic. Well, the two sides fought mightily down to the wire. The media took especial care to show how tense things got. The president even WALKED OUT OF A MEETING!!! But, when the dust settled, the two sides found common ground for the good of the country. Obama signed the bill to raise the debt limit and saved the day. or did he??? As many of you probably already know, he most certainly did not save the day. He only delayed the inevitable currency collapse. It is as if a family with maxed out credit cards simply called the credit card company and asked to raise the limit. Instead of taking a hard look at the budget, they simply said, "Well, maybe we'll do something about our spending next year." and went on with business as usual. Not only will we STILL DEFAULT, it will be an even more spectacular default than what we were facing. The devaluation of our bonds and credit rating will be even more severe. The market panic and inflation that will follow? Even worse. So those of you with plenty of gold--it is a day to celebrate. The gov't has ensured that your investment will be worth even MORE on the day when the worthless fiat currency finally collapses.
You know, it's a bittersweet thing. I wonder just how long it will be before our government faces the facts and let's the correction take place. You are correct... he did nothing to save the day. I'm sure he doesn't want to take the fall for the inevitable downgrade in the standards of living we must face, though. No president will want to do this. It almost seems like something the American people will have to speak up on and demand from the government? In a democracy? How crazy would that be? Everyday I feel better about my silver. Unfortunately, I cannot do much with gold at this point. I could exchange my 80 or so ounces for a couple ounces of gold but that's it. Either way, it feels better than having a wallet full of green toilet paper.
