In Gold We Trust
By Charles Kubach, Mine-Engineer.Com
March 5, 2011
As the state of Utah has proposed legislation to make gold legal tender in Utah (gold and silver coins issued by the US government), does anyone need any more evidence of the population's lack of faith in the current administration's fiscal policies (or better yet, complete lack of fiscally sound policies)?
Our current president is living proof that the true value of a Harvard education is no more than 3.2 cents, and since it costs over $500,000, it is a very bad deal. Of course, there is the bragging right (I graduated from Harvard), that must be why every graduate's parents are paying large sums of money to the institution. A status symbol of idiocy for their offspring.
Currently, gold hovers in the $1,430 to $1,490 range, driving forces appear to be fear of inflation, high energy costs, weak stock market performance, and the silly idea that gold will continue to rise in the face of idiotic economic policies. The normal big user of gold, jewelery manufacturing, has once again perked up demand by 70%, as the demand for gold jewelery has become trendy again. Combine this with the continued interest from investors, and the insatiable Chinese appetite for gold, and this year will be a bullish golden year, for certain.
Even though the US economy shows a few blooms of hope, the idiotic socialistic policies of the current administration are all but certain to snuff out any life of a economic recovery. Just wait until the full effects of his horrendous energy fees and penalties take effect, the cost of energy will double or triple, and hundreds of thousands of jobs will disappear. This will include the carbon tax, following UN mandates to decrease the emissions of CO2, and pay huge sums of money to a UN Slush Fund, to be pilfered and squandered, just like all other monies sent into the UN Black Hole.
Alas, my dear Ulrich, it looks favorable for gold, but as for the economy, a few blooms of hope will face the stark reality of economic drought, brought to us by the Wizzards of Washington. The only hope for the economy is in 2012, when the population will have one more chance to send the bums packing and put those in power that will return to fiscal sanity. In the meantime, gold will rule, as the doomsday metal.
"The Sign of an intelligent person is not the realization of all they know,
but rather the realization of all they do not know."
Charles Kubach 1979
Return To Mining Information Page