Reply #62: Gold-buggy, but timely - [View All]

[54anickel]

http://www.321gold.com/editorials/buckler/buckler102204.html

It is crystal clear that the present trajectory of the US government is one which makes fiscal and financial collapse utterly inevitable. And because the rest of the world still relies on the US and its Dollar as the foundation of the global financial system, those clear eyed indivduals know that no nation will escape unscathed from a US financial meltdown, whatever its magnitude.

Is Mr Kerry expected to "solve" these problems? No, he isn't. But a new Administration would at least bring with it the possibility that the world will not be subjected to more of the same. And in addition, a repudiation of the Bush Administration on November 2 would send the rest of the world the message that the present US exectutive branch of government has NOT and is NOT acting in the name and with the approval of the American people.

For the third year in a row, the US government is up against its borrowing limits. And as each borrowing limit has been reached, the fiscal and financial condition of the US has worsened. It has NEVER been as bad as it is now, in the final throes of a US Presidential election. The only question left is whether the wheels will fall off before, or after, the US election.

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Financial debacles are just that, financial debacles. The world does not stop turning, nor does the sun stop shining. People still learn, teach, trade, work, create, and enjoy life. What is going to be sorely hit is not REAL wealth, but merely paper claims to real wealth. When you think about the coming FINANCIAL debacle, think about this. In times of financial strife, wealth returns to its rightful owners. The rightful owners of wealth - real, physical, existing, functioning producer and consumer goods and services - are the ones who create it - NOT the ones who "buy" it by issuing promises to pay which they have no intention of honouring.