By Daily Crux Editor Brian Hunt:
There's just one problem with Barack Obama's "bailouts and free money for everyone" strategy: Eventually, you run out of other people's money. Eventually, the market tells you that you can't spend your way out of debt and recession.
The market in this case is the major downtrend in the U.S. dollar and the major uptrend in gold. Super-low interest rates and Obama's insane policies are driving savings out of the dollar… and into real assets like gold. Which is why gold reached another new high this morning, with spot prices hitting around $1,065.
The great Richard Heinlein said, "
there ain't no such thing as a free lunch," meaning you can't get something for nothing like our politicians are trying do right now. Rising gold prices reflect this fact.
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