Stock markets were looking better until
late last week. Then the Administration decided to reveal that it was making another big push to let socialists take over America’s health care system. When they made their intentions plain, the markets began to drop. Investors know that there may be greater damage coming to the economy than ever, and are withdrawing funds.
Most just don’t know where to put their money. It’s dropping in value every day, so some have “fled” to gold, thinking it to be a “safe” haven. They may not remember that 60 years ago, it was made illegal to own gold, and it was confiscated. The owners of gold were given a piece of paper with $20.00 written on it in exchange for each ounce they had taken from them. As soon as the Roosevelt Administration had the gold, it promptly revalued it at $35.00 an ounce, pocketing untold billions. Naturally, the value of the $20.00 bills began to plummet, and have been doing so at an accelerating rate ever since.
In any nation, from Babylon to today, nations always end up debasing their currency. The excuses for debasing the currency are a manifestation of childish selfishness. “We need more, now.”, cry the growing hordes of government workers and pensioners. The easiest way to satisfy their cries is to print more money. The results are obvious, and, unfixable; the natural and inevitable results of giving in to the demons of greed that lurk within us all.
