WORLD TAKES A HARD LEFT TURN - CRAIG R. SMITH
May 07, 2012
Socialism has once again invaded France, spurring the Great Debate: Austerity vs. Fiat Currency.
History has already shown how this debate plays out. We saw this same scenario unfold right after WWI. Germany attempted to print their way out of an economic crisis, while France and England voted for austerity. The result was hyperinflation and a currency collapse for Germany, while France and England's currencies survived.
The only way to keep any welfare nation alive is to continue inflating the currency. Sadly, today this is the political and economic direction of virtually the entire free world, including the U.S.
This news is very bullish for gold long-term. Gold prices will likely fluctuate short term on liquidity needs and a weaker euro, but smart money and big money will buy on the dips.
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