The QE brand is already tainted and Bernanke will change its name hoping to disguise it but QE3 is on track to satisfy our government’s spending needs where revenue only meets 2/3 of it minus the continued increased payment of interest debt. With few lenders QE is the only tool they have to keep our economy on life support and Gold has already responded as it is now comfortably $1,760 an ounce. When Obama took office it was in the $800 range and in 2000 when Bush was elected less than $300. JPMorgan Chase predicts that Gold may reach $2,500 by the end of the year or triple during the first three years of the Obama administration. It could also be seen as the dollar losing 2/3 or its value although we may not notice it yet.
Taking some blame away from the presidents because they are just impotent puppets in a corrupted system, we can see what has happened to the value of the dollar during the last two presidencies. The damage to our purchasing power has already been done but the consequences are yet to be felt. Brace yourselves because hyperinflation is coming and when the poorest in our nation experience the loss in purchasing power and become unable to feed themselves and their families the riots and looting that we see now taking place in England will be dwarfed in our cities.
These and many more things to come are not predictions they are the obvious consequences of what is taking place in America. For decades our elected officials have prostituted themselves to the Washington lobby and allowed us to be sucked into a financial black hole of which we cannot get out of without first paying dire consequences. It is not just Americans but the entire world is about to enter a new and unknown political and financial territory unaware of what we will find when we finally come out this black hole that we are about to enter.