“When the people find that they can vote themselves money, that will herald the end of the republic”. –Benjamin Franklin.
As we put the Presidential re-election behind us, the final outcome has put into perspective a much clearer picture regarding the price of gold in the foreseeable future. That means the current monetary policies are going to remain the same. With the election over, investors can focus on other issues, such as the so-called “Fiscal-cliff”, a combination of tax hikes and spending cuts that will come into effect on Jan. 1, unless politicians reach a budget deal by December 31, 2012.
In the most recent article I published on SeekingAlpha, I used the phrase gold is a generational buying opportunity. This was written in the context of my own generation, when President Nixon took the U.S. Dollar off the gold standard in 1971. This was a generation ago and the U.S. dollar has collapsed more than 98% since.
After more than 30 years since the ban was lifted off the gold standard, the government printing presses continue their policies to create as much paper money or fiat currency as necessary…to read more click here.