random economic prediction of the week

if obama does decidedly better than romney in tomorrow night's presidential debate, the spot price of gold will increase somewhat dramatically in the following 24-48 hours. the spot price is currently $1776/ounce.

 

...annnnnnnd.... i guess we don't have to worry about the outcome of that prediction...

 

Agree and the reason should be understood by all to help them decide which way to vote.

 

Why would obama winning the debate make the price of gold go up?

 

Trust me the Fed will continue to debase no matter who wins. I predict the price of gold will keep going up until A it backs the dollar again or B the government confiscates it again like they did in 1933.

 

Sways speculation on who may win the election...?

IMO and without going into great detail, unlike many precious metals the "value" of gold is not based primarily on industrial use but, is more reflective of the global economy. With the US making up about 25% and very few other counties making up the vast majority of rest of the world economy and all in near recession with governments pumping unsustainable and unrealistic amounts of currency into their systems (inflation) so investors will flock to gold as a safe haven.

Look at the way inflation is measured now compared to the way it was measured just less then a decade ago (the books are being cooked). Look at the failures of once (recently considered) sound investments. Look at the fear of the general public to invest in said "sound investments". Look at the size and the make of these once "sound investments".

I'm not sold on either of the two debators as both of "their" parties spends cash as if there is no end to it but, with spending (mostly borrowed) continuing to be out of control and dollars, euros & what ever else you want to pick being printed faster then ever, inflation is real (rather or not you are presented the formula used to calculate it) and if inflation is real, gold prices will increase. But, one party in particular wants to spend even more cash and hasn't even had a budget while it "occupied" the White House since the last election.

The U.S. and the rest of the world need to reset their expectations and stop spending. We are choking on our own in-ability to control our spending and as a group are too stupid to react accordingly.

 

I really hate how the media manipulates the news or truth of the news. Polls up and down, who gets polled that makes up these numbers of who is for whom?

 

http://www.wnd.com/2012/11/now-obama-wants-your-401k/