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October 5, 2009







October 5, 2009 – Our government’s heralded stimulus plan is in full swing, and today’s gold and silver prices were elevated slightly during morning trading hours, as news broke over some beneficiaries’ ill-gotten gains. Former Treasury Secretary Henry Paulson claimed in October of 2008 that all nine financial institutions that received $125 billion in government aid were sound. By definition, an entity in need of aid is not sound, but the most recent revelations surrounding the bailout do not take this fact into account. Rather, Special Inspector General Neil Barofsky’s new report stated that the whole effort was questionable. Every dollar that those conglomerates received is a testament to that fact, and many Americans fear that corporate profits will again fade once these stimulus funds are exhausted. Some investors are looking to gold and silver as a privately-held investment, in the face of mounting distrust over the stability of our major financial markets. 

Barofsky’s report, available in full at Money.CNN.com, calls the entire bailout program into question, and many investors are concerned that the Obama administration’s intervention with the financial markets could have a long-term, detrimental effect on the American way of life. Some economists feel that precious metals could act as a safe-haven, wealth preservation vehicle over the next few years, or at least until people think that the economy is moving in the right direction. Investors who are interested in gold and silver prices are encouraged to visit www.GoldPrice.net, where active spot prices for investment-grade precious metals are always available. The active gold spot price is $1004.70, and silver is trading at $16.29 per ounce on the Commodities Exchange(COMEX). 

Shannon King

Senior Staff Writer – GoldSilver.org

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