Gold Going Bonkers
Thanks to the incompetence of Barack Hussein Obama and the Jews who are running him, the American economy is now collapsing all around us, and along with the American economy the American dollar is becoming completely worthless, nothing but little pieces of green paper. On the other hand, precious metals like gold that are still actually worth something as a medium of international exchange have leaped to unprecedented levels.
The Bloomberg business site reports: "Gold climbed to the highest price ever as the dollar’s slump deepened and on a report that India may buy more bullion for its central-bank reserves. Gold reached a record $1,184.70 an ounce and has rallied 12 percent since Nov. 2, after India said it bought 200 metric tons from the International Monetary Fund. The country, the world’s largest gold consumer, may buy more from the IMF, the Financial Chronicle reported. The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, fell to a 15-month low."
"Gold futures for February delivery climbed $14.30, or 1.2 percent, to $1,181.70 at 10:47 a.m. on the New York Mercantile Exchange’s Comex division. Up for a ninth straight session, the most-active contract is headed for the longest rally since August 1982...In London, gold for immediate delivery advanced $10.64, or 0.9 percent, to $1,180.04 an ounce after touching a record of $1,182.95. Prices may reach $1,200 next week."
This is one of the things that happen when you have an insane government like the Weimar Republic, or Robert Mugabe, or Barack Obama, that simply prints up money as needed without any regard for, or knowledge of, the basic facts of economics.
Gold and silver originally became valuable because they were rare. Casting them into coinage in ancient times made these metals easier to transport and workable for smaller transactions like buying a sausage or having one's sandals mended. If these metals were as common as iron or sand or coal, they would be valueless, because anyone could just pick them up off the ground.
For millennia, all money was coin in gold, silver, and occasionally copper. Paper money did not begin appearing on the scene until the 18th century. The first experiments in it, such as the infamous South Sea Bubble in France in the 1720s, were disastrous and nearly wrecked the European economy, because the rulers of the time thought they could just create value by printing pieces of paper. You would think that 300 years would be enough for the people in charge of nations to learn this basic fact, but apparently not.
Barry is essentially creating not even paper money, just figures on a computer terminal, with his bailouts and stimulus and the Jewish idiot at the Federal Reserve, Ben Bernanke, seems either not to understand or not to care.
Paper currency will soon be worthless at this rate, and so it's no wonder people are beginning to hoard gold and drive up the price. The problem, though, will be this: what use is even gold when society has collapsed and there is nothing left to buy? Americans might want to contemplate taking their paychecks in the form of vouchers for other local goods and services. Or maybe in live chickens.