In case you missed it, President Obama was out and about yesterday pitching $250 rebate checks for Medicare prescription-drug coverage. At the same time, gold prices were roaring ahead, hitting a record-high $1,245 an ounce.
So let me ask: Is there a link between the government doling out even more budget-busting benefits to the elderly and the skyrocketing gold price?
Or look at a new Treasury report to Congress indicating that theU.S. debt is expected to soar to nearly $20 trillion by 2015. How about that? Do you think this latest mind-blowing multi-trillion-dollar debt projection might have something to do with the soaring gold price?
And don’t forget that the Congressional Budget Office just increased its Obamacare cost estimate by $115 billion. That brings the total cost to more than $1 trillion in the first ten years. Think there might be a gold connection?
Big-government spending, big-government borrowing, and an ultra-easy-money Fed for as far as the eye can see. And gold prices shooting to the moon.
Do you think there might be a connection? Maybe? It’s called cause and effect folks.
Here’s another question: What follows trillions in spending and borrowing?
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