Wednesday, July 13, 2011

Tradition Walks

As if Bernanke was getting all the publicity, Obama, the drama queen he is, decided to steal the spot light on the day Moodys warns of a US ratings downgrade.  What a day!  Bernanke started it off claiming once again he has no idea why gold has value, but that it sits in his vaults, the largest in the world, because of "tradition".  Then (and I am not sure which happened first) Obama walks out of budget negotiations because some one kept interrupting him.  Obama, you are the with it, man!  Washington fought a war for us, and you can not handle being interrupted.  Patience is a virtue, and what, Obama needed to touch up his short game? 

Bernanke is looking like a doofus, not to mention a hooligan.  Since he knows gold is a reserve, an asset, why is it that he knows nothing about its rising value?  He lies.  He knows very well, as he loans it out.  He sets its price.

Moodys is prepared to downgrade US debt, which is like calling "game over".  Downgrading the US will be downgrading the dollar, and since all money is marked in dollars, the world will be downgraded.  This is one way to exercise some reality into the world, but the right way would be to institute constitutional money.

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