Obama: No balanced budget

[Charles_Main]

@ Dirt: You said invest in PM's. Maybe we should have thought about that before we inflated our Dollars back when they were still exchangeable to foreigners for $35/oz gold, and foreigners called on it. Now, the likelihood that we have any significant amount of gold left in our reserves is probably nill. An audit would be nice. But it's not happening.

I am not sure why investing in PMs would be so great, Sure they have done very well lately, but historically gold gains about 4.5% a year, which usually does not even keep up with inflation.

 

[Paulie]

I am not sure why investing in PMs would be so great, Sure they have done very well lately, but historically gold gains about 4.5% a year, which usually does not even keep up with inflation.

Gold has always been a historic hedge against inflation. You do realize that roughly the same amount of gold today, buys the same amount of most goods it bought decades ago? That's because it DOES keep up with inflation. Always has, probably always will.

 

[Charles_Main]

Gold has always been a historic hedge against inflation. You do realize that roughly the same amount of gold today, buys the same amount of most goods it bought decades ago? That's because it DOES keep up with inflation. Always has, probably always will.

It just keeps up with inflation, so I see you point, but I am still not sure how the US investing in it right now would help, but then I never claimed to be an economist.

 

[editec]

I only wish the goverment had invested in oil futures a year ago.

We'd be out of debt by now.

 

[Dirt McGirt]

It just keeps up with inflation, so I see you point, but I am still not sure how the US investing in it right now would help, but then I never claimed to be an economist.

I agree with Pauly that we might have missed the boat on PMs. But investing in PMs a while back would have served as a safety net just in case other countries decided to do a mass currency dump on the dollar.

 

[Wow]

No it sure hasn't

Did you notice that NATO and the UN had planned to invade Afghanistan in 2001?

The media did a real hatchet job on Bush because he was trying to attack terrorism.

Maybe these reporters forgot about 911?