joyboy

The End of Gold, Part Two

My my. What vitriolic blather comes forth from pseudo-intellects. Having lived through the 70s and gold close to l000 and inflation out of sight, and c.d.s paying 16% Volker came through. Eventually, interest rates will have to increase. This will break the back of inflation. Gold will drop like a bad habit. We were uncertain then, as now. Deflation will be around for awhile. With mass layoffs and very slow sales, it is inevitable. So called priming the pump may be helpful to some as FDR tried in the 30s. We as a nation will have to endure some economic pain in order to get out of this mess. My regret is my grandchildren will have to pay for this mess in future years with much higher taxes. Socialism anyone? It;s coming.