Obama embraces proven failed policies | CMI Gold & Silver
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Obama embraces proven failed policies

John E. of Phoenix writes:

In approximately one month we got a sample of Obama’s change: The continuation of the Bush-Paulson give away of taxpayer money and pork programs, little of which will have any stimulus on the economy…much more of the same is coming down the road. The expansion of the war in Afghanistan with 17,000 more U.S. troops, and there will be social-religious changes as taxpayer money will be used to fund abortion…has your church made a stand against abortion on demand?

Oh, yes, there will also be taxpayer relief to some (including illegal aliens) that got themselves into financial difficulties by over extending themselves with mortgage finance. Those that were prudent and are servicing their debt obligations will pay for the mistakes made by others. See Forbes article on Community Reinvestment Act.

For a commentary on Obama’s policies, read Tooth Fairy Economics, posted on Ron Paul’s Campaign for Liberty website.

Instead of government spending and the redistribution of taxpayer wealth, why not dismantle our overseas military empire of more than 750 military bases, bring our troops home and have them defend our borders, which would reduce our military-industrial complex to a manageable level. We spend more on defense than all the rest of the world combined.

Then, maybe slash the payroll tax, capital gains tax, taxes on various forms of savings accounts, and then provide big tax incentives for start-up businesses with emphasis on a program of creating basic manufacturing industries.

Then bring back the Glass-Steagall Act, and top things off by eliminating the Federal Reserve. (I’m sure the part of the Glass-Steagall Act that John likes was the prohibition on bank holding companies from owning other financial institutions, prohibitions that were repealed in 1999. That repeal contributed greatly to our financial crisis by letting banks own investment firms that invested outside normal guidelines. The repeal blurred line between banks and investment firms and gave an implicit guarantee, which banks have had since the Great Depression, that the federal government would never let them fail, and that’s exactly where we are today. Merrill Lynch was forcibly rolled into Bank of America with government guarantees. When investors do not have to worry about risks, they make more risky investments, such as collateralized loans, the root cause of the financial crisis. Now, back to John’s comments.)

Oh, sorry I was dreaming again…back to the real world of media cult-like adoration of Obama and failed socialist policy. Speaking of Obama, has anyone seen the “vault copy” of his birth certificate?

Enough dreaming. We don’t want a patriot like Ron Paul with sound economic and social policy with a proven record in politics…we want more of the same NWO globalist Keynesian policy with the captivating persona of Obama… That is why we elected him…right? It had to do with all the fine people with whom he associated and his long proven record in government?…right???… well, of course. (John got a little cynical here!)

Finally, John provided an excellent six minute Youtube Bill Maher interview of Ron Paul, where Paul explains why Obama’s approach to the financial crisis will only make things worse. The video caps off John’s thoughts on today’s political circus. Any wonder why the price of gold is within dollars of its all-time high?

2 Responses to “Obama embraces proven failed policies”

  1. BK Campbell

    I agree with Dr. Paul 100%. However, I would like to point out to the silver investors that when the dollar fails which is not a matter of if but when, gold nor silver will be worth anything until an economy is set up to where money is in play once again. At that time it will be goods that have value. You cannot eat gold or silver and if there is no industry no matter how many uses they may have had before the fall, they will have virtually none after the fall. A quart of whiskey or 5 lbs of rice will be worth more than a sack of precious metal. The money powers will never let paper money fail. Even if it loses 90% of its value they will still be the richest and own the most and therefore have the power. Gold and silver are good investments but only like land is a good investment. Their value will go up as time goes on but they will never again take the place of paper money.

    • admin

      Right, you cannot eat gold or silver. You also do not eat paper dollars. You use them for money, a medium of exchange. As the dollar declines in value, other currencies will rise. Maybe they will be foreign currencies, maybe (probably) two of the other currenices will be gold and silver, which will trade, for a time, parallel with dollars. We will have multiple, competing currencies. If the dollar becomes worthless, gold and silver will have even greater value relative to other goods than they have today. That is to say, the value (price) of gold and silver will rise.


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