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GOLD BREAKS RECORD HIGH: Climbs Again Amid U.S., EU Economic Recovery Farce (Guest in PDT)
Throw it at the Wall (Street) and see what sticks. That’s probably the most accurate way to describe government attempts to extract an economic recovery out of the craw of recession.
Most recently, American and European taxpayers were enlisted to underwrite the bailout of Greece in an effort to stem the fear of a bankruptcy domino effect. Didn’t work. Instead, investors again ran for shelter in gold, driving it to an unprecedented $1,231 an ounce this week.
So, why won’t the global market stabilize? Economist and Swiss America CEO, Craig R. Smith, is available for interviews to explain, saying it all boils down to unrelenting uncertainty.
“Look, placing assets in markets that can drop 900 points in a matter of seconds,” says Smith, in reference to the recent computer-glitch stock exchange dive, “is not really an investment. It’s a ‘bet.’ Last week the vulnerable world financial markets reminded investors that paper markets rely on confidence, while gold creates confidence.”
And confidence is something in extremely short supply, not to be replenished by the Obama administration’s $1.5 trillion stimulus flop, “Cash for Clunkers” comedy, fruitless Fannie and Freddie funding or any other desperate measure levied in the past year and a half.
Making it even worse, says Smith, is that political power, once again, is overriding sound economic sense, as the reckless borrow-and-spend mentality that got us into this mess—the same that buried Greece—has Congress flirting with yet another stimulus package before November elections.
“Well,” says Smith, “the big-fish investors are betting that our politicians will do just that—trigger another stimulus this summer to fool the little fish into reinvesting in stocks during a make-believe recovery . . . all for the sake of winning reelection. That’s why the big investors are buying more gold.”
So, while the White House keeps saying, “Pay no attention to that double-digit unemployment behind the curtain,” where are we really headed? Stifling inflation? Crippling taxes? Obscene interest rates? More unemployment? Call Special Guests for an expert projection. Ask for an interview with Craig R. Smith.
NOTE TO PRODUCERS: During your show, Smith will offer, FREE, Swiss America’s latest Special Report, The Incredible Shrinking Dollar: How to Fight Back, along with his company’s Gold 101 DVD. They’re both available just by calling 800-289-2646.
THE FOLLOWING ARTICLE MAY BE USEFUL FOR SHOW PREP:
http://www.reuters.com/article/idUSTRE6495XB20100511
ABOUT YOUR EXPERT GUEST CRAIG R. SMITH:
Craig R. Smith is an author, commentator and popular media guest because he instantly engages audiences with his common-sense analyses of local, national and global trends. Serving as CEO of Swiss America for more than 25 years, Craig understands that Americans want solid answers to the tough questions and that real leadership begins with servanthood. Craig's most recent book is Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil, which he co-authored with WND columnist Jerome R. Corsi.
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