Saturday, April 30, 2011

Obama's War against Seniors and the Poor

If you haven't seen silver lately, you have been sleeping while it has doubled over the last 9 months or so.

This is interesting in several ways. Traditionally I'm a trend follower, but I purchased silver as insurance against rampant government stupidity. As a trend follower, this would have been a great trade since the price broke out in late 2010 and has been rising ever since. As an insurance policy, it's also performing well given Obama's war against seniors and the poor by promoting fiscal irresponsibility at the Federal level and allowing the Fed to monetize on the run debt to benefit banksters. Those in low and fixed incomes are being trashed right now by these policies. Sadly, these low and fixed income Americans will likely re-elect the very man that is screwing them over because they were publicly educated. Very Machiavellian.

At some point this insanity will end, either by choice or by force (bond market blowup a la Greece). Until then, stores of value (precious metals) will continue to perform well. I'm really trying to find some reasons to sell my holdings, but can't find any, so here I sit watching the greatest country in history lie, cheat, steal, and defraud its way into complete lawlessness. Pretty sad to watch.

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