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| Author: | JazzboCR [ Thu Jan 21, 2010 11:59 pm ] |
| Post subject: | to the Gold Bugs... |
I hope that house of cards you're building on the back of super-elevated gold prices doesn't collapse around your ears. It will if what the Wall Street Journal's "house liberal" wants, comes true: http://online.wsj.com/article/SB1000142 ... 96744.html |
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| Author: | Foos [ Mon Jan 25, 2010 12:37 am ] |
| Post subject: | Re: to the Gold Bugs... |
stolen from one of the comments on this article, but he makes a very good point: And my bet is the first to diversify their portfolio will be the Chinese as they will readily trade in their US government IOUs for the US government's gold. That $300 billion is a fraction of the IOUs the Chinese hold from our government. Heck the gold we hold even at today's price isn't even half of what Obama and the Democrats just borrowed to fund their stimulusless package. It is less than the cost of the Democrat induced Fannie and Freddie bailout debacle. Probably won't even fund the total cost of the G(overnment)M(otors) bailout. As usual, Frank's grasp of the obvious is non-existent. He has the standard liberal Democrat's amazing economic common nonsense. |
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