Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?This article is part of a 20 article special report on "Metals, miners and money".
"Gold is a beneficiary of lower interest rates," says Daniel Frishberg, host of BizRadio and editor of The MoneyMan Gold & Oil Report.
He explains, "Gold has closed at his highest level in three decades. The precious metals market senses inflation is higher and economic growth slower than the official government numbers.
"With the price of oil at a record high and food inflation in a double digit zooming up, government statisticians will have us believe third quarter inflation was only 0.8%, the lowest level in 40 years.
"The gold market is not buying the government numbers. Regardless of what Federal Reserve Chairman Bernanke says about containing inflationary pressures or what Treasury Secretary Paulson says about supporting a strong dollar policy, the U.S. dollar is being sacrificed to save the banking industry and prevent an economic slowdown and/or housing market collapse or even a recession.
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