Any one who knows anything about economics knows that gold is used as a hedge against a failing economy.
During the past several presidential elections one of the biggest supporters of the democratic party and President Obama has been George Soros the founder of moveon.org a pac dedicated to electing Dems.
Yesterday I saw a video promoting gold and the direction they are expecting for it gold currently trades around 1720. an ounce with projections for next year of 2000. plus. Many times on financial shows they will use prominent financier as indicators of trends. George Soros along with John Paulson were the people they used to demonstrate the strength of gold. Soros has increased his gold holdings by 49% and is still buying.
Makes me wonder if Soros is supporting the president for personnel gain because if the economy goes south gold will rise significantly. The one who are truly hurt during hard times are the lower middle class and the poor. The wealthy put themselves in a position where they can profit on the hard times.
I don't know Soros's intent but if someone who is in favor of Pres. Obama's policies is buying gold it is not a very good sign.
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"The wealthy put themselves in a position where they can profit on the hard times."
ReplyDeletei agree. this is true no matter which of these 2 parties are in power. i believe money has bought them both, and the rest of us are outa luck. my gold holdings are on my ring finger. lol