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October 22, 2009

October 22, 2009 – Gold and silver prices failed to budge throughout most of the trading day, and after three straight weeks of fluctuations in a positive direction. Today’s dormant spot prices could be a sign that investors need more information about our nation’s financial markets, or maybe they just need more impartial information. Propaganda and half-truths have been the norm from most of our appointed and elected officials, who prefer to join hands with big business rather than aid the citizens who granted them their authority.

Just today, the US Treasury Department announced that executives from seven Troubled Asset Relief Program (TARP) banks would have their compensation packages capped. Salaries have been capped at $200,000, with expense accounts and benefits not to exceed $25,000 per employee, per year. However, some leaders of these companies are exempt from this order, including CEOs and CFOs. The heads of these companies are "earning" millions of dollars per year, exhausting company expense accounts, and abusing corporate travel privileges, even though their companies are in billions in debt to the American people.

Bailout Special Inspector Neal Barofsky has lamented the failure of TARP to accomplish its purpose, which was to transform toxic companies into fiscally responsible financial entities. Many household investors have proven to be more responsible with money than corporate heads and US policymakers. Instead of spending needlessly or becoming emotionally attached to underperforming investments, these investors have bolstered their portfolios by adding gold and silver. Gold is presently valued at $1060.80 per ounce, and the Commodities Exchange (COMEX) currently prices silver at $17.57 per ounce, which is an $0.11 decrease today. 

Shannon King

Senior Staff Writer – GoldSilver.org

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