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Ditching Before The Fiscal Cliff

Fred1666 Wrote: Dec 08, 2012 7:08 AM
Relatively speaking, very few people own gold. I have similar questions. It seems to me the only value gold has is the value our faith gives to it. If the economy collapses like I think it could, how do we use gold to pay the electric bill or the cell phone bill? Who will mint the gold coins into usable currency? This is not the Great Depression era. We are a nation of about 300 million mouths to feed where criminals are better armed than most law abiding citizens. And with what will we pay those who keep us safe? Who will answer the phone when we call 911? Do we expect them to not have self interest? I think gold is a great hedge against inflation but I am not sure it is such a great hedge against collapse.

Turn on the TV and this is what you'll hear: The US budget is heading for a fiscal cliff. If a deal isn't reaching in Congress by the end of this year, a combination of automatic tax hikes and budget cuts will sink America into economic depression. There is no escape.

Of course, my readers know that the fiscal cliff is merely an example of the piper having to be paid. The problem isn't the bill, but that we ran it up so high in the first place. Any deal to avoid the cliff...

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