Weiner accused Beck and other conservative spokespeople (among them Mark Levin and Fred Thompson) of using "their shows to prey on the public's fears of inflation and socialist takeovers while actively promoting the purchase of gold coins as insurance against this purported government overreach."
So what's the real story here? Let's look at the numbers.
Here's a chart of the US Money Supply (to remind you, the Federal Reserve is charged with managing monetary policy):
Here's a chart of the price of gold in US$ per ounce from 2000 - 2010:
Notice that the two upward trends from 2006 on are eerily similar? Should we really be surprised that a doubling of the money supply would result in the doubling of the price of gold?
The Federal Reserve is literally stealing our money via inflation. An amendment to the Dodd financial reform bill that would have allowed for a full audit of the Federal Reserve failed 37-62. Maybe we should be less concerned with Goldline and more concerned with why our elected officials are allowing an unelected quasi-private entity with zero congressional oversight of their daily operations to continue to victimize the American people.
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