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AuRico Gold Inc. Message Board

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  • jack_baron jack_baron Nov 29, 2012 12:12 PM Flag

    Tradeblazer, your thoughts on the price of gold?

    Military spending- is not THE problem. It is arguable, in today’s world and level of international treat from those who want to destroy us as the “great Satan”, that military spending is not high enough.

    “When measured as a fraction of overall federal government spending, national defense funding is 19 percent of the FY 2012 request, compared to an average level of 21 percent since FY 1976.”

    As to the deficit and debt---

    "The US Treasury raised the national debt by more than $24 billion on the day after Thanksgiving, increasing it to the alarming rate of about $211.69 per US household and bringing it to the highest level in history.

    Topping off at $16.3 trillion, Friday’s debt was the highest on US record. The numbers skyrocketed after the Treasury Department took the day off on Thanksgiving, holding off on borrowing for just one day.

    When President Barack Obama first took office in 2009, the national debt was $10.6 trillion. Throughout the course of his presidency, it has increased by $5.7 trillion – the equivalent of nearly $50,000 per household.”

    Gold measures the value of the dollar, not the dollar measuring the value of gold. It seems to me that Obama, Reid, et al are intent on devaluing or breaking the dollar. That prospect is frightening from our country and obviously has significant implications on the price of gold. The fact is, millions will be laid off after the first of the year. The federal deficit and federal debt will be massively increased for FY 2014.

 
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