Auguries - February 8, 2013 Auguries - February 8, 2013
Evil And Stupid
Kevin Michael Grace
Gold was up (at press time) $7.70 (+0.5%) for the week to $1,671.80, and silver was up $0.04 (+0.1%) to $31.47. Thursday has been a bad day for gold lately. It fell $7 today (-0.4%), a development Reuters attributed to comments made by Mario “Batman” Draghi, a concomitantly stronger US dollar—and our old friend “technical resistance.”
Recent columns in this space may have given the impression that the United States intends to take no steps to address its fiscal crisis. Nothing could be further from the truth. A great bipartisan effort is shaping up in Congress, one with momentous consequences. For as Stan Evans, that lion of the Old Right, reminded us, “We have two parties here, and only two. One is the evil party, and the other is the stupid party… Occasionally, the two parties get together to do something that’s both evil and stupid. That’s called bipartisanship.”
Read the rest of this article about gold prices and the economy here.