Quotes of the Day (2/1/08)
"Public opinion always wants ‘easy money,’ that is, low interest rates."
Ludwig von Mises
"Almost all the fathers of socialism were members of the upper middle class or of the professions."
Ludwig von Mises
"The more ‘adequate’ we make relief, the more people we are going to find willing to get on it and stay on it indefinitely. The more we try to make sure that everybody really in need of relief gets it, the more certain we can be that we are also giving it to people who neither need nor deserve it."
Henry Hazlitt
Now what is the government trying to do? Save us from the excesses of our greed. Hard work and the sense of accomplishment allows people to create wealth and happiness. Being given money debases the drive to work hard and sets a stage for more dependence upon hand outs. This is the continuing evolution of debased currencies and inflation by governments for the benefit of the masses. So the only hard asset that keeps it value relative to the other goods and services is gold and silver.
This is a parallel to the 70's. Gold will continue to go towards the $2000 mark before it is finally tamed to settle back to the new bench mark of $1000. Hang onto your metals and stocks.
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