February 22, 2012
GOLD PRICE NEWS – The gold price climbed nearly 1% Wednesday to $1,736 per ounce as uncertainty over whether Greece would receive its bailout funds helped drive investors into the yellow metal. Stocks and commodities rose alongside the price of gold, shrugging off Greek worries, after People’s Bank of China Governor Zhou Xiaochuan pledged to support Europe. Zhou stated, “Some people had cast doubt or suspicion over the currency, but for the People’s Bank of China, we have always been confident in the euro and its future.” S&P 500 stock futures climbed 4.70 to 1352.40 and WTI crude oil advanced $1.00 to $101.74 per barrel. More...
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NEW YORK (CNNMoney) -- President Obama unveiled a $3.8 trillion budget request Monday that hikes taxes on the rich, spends new money on infrastructure and education, but does little to reform the entitlement programs that pose the biggest long-term threat to the federal budget.
"We built this budget around the idea that our country has always done best when everyone gets a fair shot, everyone does their fair share and everyone plays by the same rules," Obama said in his budget message.
But the budget forecasts a deficit for fiscal year 2012 that will top $1.3 trillion, before falling in 2013 to $901 billion, or 5.5% of gross domestic product. More...
Ron Paul may not be at CPAC event, but his gold standard ideas are thereRon Paul isn’t in attendance at the 2012 Conservative Political Action Conference in Washington, but some of his ideas are center stage.
One of the first panels of the largest gathering of conservative activists was pure Paul: “The Need for a Twenty-first Century Gold Standard.”
The panel’s moderator, Jeffrey Bell, policy director of the American Principles Project, invoked the name of the great Paul when he introduced Jim Grant, the editor of Grant’s Interest Rate Observer.
“I can call him Mr. Chairmen because last fall Congressmen Ron Paul recommended Mr. Grant as his choice, should he be elected as chairmen of the Federal Reserve” Bell said. More...
Featured Commentary:
Are we going to take the fork to the left where we continue the pursuit of a welfare state birthed by FDR in the 1930s, strengthened by LBJ in the 1960s and now being rigorously pursued by BHO? Or will we take the fork to the right and return to the personal responsibility that requires hard work and sacrifice?
Will we continue to provide handouts or instead start offering hand ups for those who fall on hard times? Handouts are creating a dependent class of takers who have no ability to provide for themselves. A portion of our society is totally reliant on the benevolence of a government that steals from the working class – the only class contributing to the greatness of America.
