Thank You Obama....

[Pudfark]

Gold Flies Above $1,600 as Default Anxiety Persists

Read more: http://www.foxbusiness.com/markets/2011 ... z1STR2yIBE

Old Pudfark sez: " Inflation is the Terminal Tax on the poor and the bullet in the head to economic recovery. "

[fatman]

I thought a mate was being a bit of a dick when he bought a heap of gold back when it was low $700's a few years ago he the one laughing now though

[nicolas10]

I bought some a while ago back when it was under 1000$ an ounce. Smartest thing I'd done in a long while.

Nic

[Pudfark]

Old Pudfark sez: " Gold is a sound investment/inflation fighting tool....until....you go swimming with it.... "

[callmeslick]

historically speaking, gold has hit $2500 per oz, corrected for inflation, a couple of times, once during 1980, I believe. So there is room to go up, should the loons prevail and no debt ceiling raise is approved.

[HappyHappy]

You mean to get knuckled under by the Communists
under the leadership of Obama and Pelosi!
Cut spending! Cut give away programs!

To HELL with Obama and his communist minions.

HH

[nicolas10]

It always give me a chuckle when people give the price of gold "corrected for inflation".

WTF?

Nic

[Pudfark]

Very well stated Nic....

How's that inflation help them poor folks, Slick?
Should the minimum wage be increased to $20 an hour?
That oughta really help with job creation...

[nicolas10]

WTF?

Very well stated Nic....

[callmeslick]

It always give me a chuckle when people give the price of gold "corrected for inflation".

WTF?

Nic

because the true value of currencies, world-wide, is no longer tethered to gold. Like any commodity, you have to correct, to be accurate. Gold is just that, at this stage, a commodity.