Oct
3
Treasury Suspends Sales of Gold Coins
Filed Under News
Bloomberg
U.S. Mint Suspends Sales of American Eagle Gold Coins
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As for promises and plans of Barack Obama and John McCain — be it for national health insurance or middle-class tax cuts — they are going by the wayside. For the US is as bankrupt as Lehman Brothers, with this difference: Uncle Sam can still borrow from abroad because foreigners see many juicy U.S. assets they would like to take off our hands with their hoards of ever-cheapening U.S. dollars.
About one thing we may be sure. The U.S. deficit and national debt are going to soar. The credit rating of the United States, as this nation of non-savers has to borrow abroad to save its banks, and their banks, is going to fall. We are going to be a poorer nation and people.