CRANE’S CORNER
FEBRUARY 11TH
ONE NATION UNDER DEBT


IT’S EVEN MONEY THE PRESIDENT WILL ACKNOWLEDGE ONE OF HIS PREDECESSORS TOMORROW NIGHT WHEN HE UNVEILS HIS STATE OF THE UNION MESSAGE. TOMORROW IS AFTER ALL ABRAHAM LINCOLN’S BIRTHDAY, AND ABE WHO GAVE HIS LIFE, SOME MAY ARGUE IN AN EARLY QUEST FOR EQUALITY IN AMERICA, IS REVERED AND ADMIRED BY THE INCUMBENT WHO HAS SAID 0FTEN, WITHOUT THE LINCOLN ADMINISTRATION THERE WOULD NOT BE AN OBAMA ADMINISTRATION.

THE TWO MEN HAVE SOMETHING MORE IN COMMON THAN THEIR PATHS TO THE WHITE HOUSE. UNDER ABE LINCOLN,IN PART BECAUSE OF THE COST OF FIGHTING THE WAR BETWEEN THE STATES….THE NATIONAL DEBT SOARED BEYOND ONE BILLION DOLLARS FOR THE FIRST TIME.NOW SOME 150 YEARS LATER…AMERICAN I O U’S HAVE SURPASSED 16 TRILLION DOLLARS…A GAIN OF 257 PERCENT SINCE MR. OBAMA TOOK OFFICE IN 2009..WITH THE GOVERNMENT OF CHINA NUMBER ONE ON CREDITOR LIST….THE REST OF THE WORLD KNOWS THIS AND ALSO KNOWS THAT UNCLE SAM WILL PROBABLY HAVE TO PRINT MORE MONEY TO KEEP PAYING THE INTEREST…WHATS MADDENING ABOUT THIS IS THAT PRESIDENT OBAMA WILL PROPOSE MORE PROGRAMS TOMORROW NIGHT THAT WILL COST MORE MONEY THAT WE DON’T HAVE….THERE ARE FEARS THAT AMERICA’S DCEBT MNESS COULD LEAD TO INFLATION AND IT’S CURIOUS TO SEE HOW OUR FORMNER ENEMIES ARE DEALING WITH THIS…UNDER VLADIMIR PUTIN, RUSSIA HAS QUIETLY BEEN BUYING Up GOLD AND DRAMATICALLY PUSHING U- GOLD PRICES...WHEN PUTIN'S PUSH TURNED INTO A RUSSIAN GOLD RUSH...BACK AROUND 1998---GOLD WAS TRADING AT A THEN 18 YEAR HIGH OF JUST HUNDRED FIVE HUNDRED DOLLARS...NOW...RUSSIA WHICH HOLDS THE WORLDS LARGEST STOCKPILE OF OIL...HAD ABOUT 380 TONS OF GOLD,,SINCE THEN STEADYING PURCHASES OF THE PRECIOUS METAL HAVE MADE RUSSIA A MAJOR PLAYER IN THE METALS MARKET..WITH 570 METRIC TONS..THATS MORE GOLD THAN CHINA OR INDIA....AT ALMOST 1700 DOLLARS AN OUNCE THATS ADDED TO RUSSIA'S ENORMOUS WEALTH...AND GIVES IT A BIG HEDGE AGAINST WORLD INFLATION...NOW THE GOOD NEWS, UNCLE SAM IS STILL THE BIG DOG WHEN IT COMES TO GOLD WITH MORE THAN 8400 TONS...THATS COMFORTING, BUT'S ABOUT 2 THIRDS SMALLER THAN AMERICA'S GOLD STOCKPILE DURING THE WORLD WAR TWO YEARS...AND MANY OF US WOULD ALL FEEL BETTER IF THE PRESIDENT TALKED MORE TOMORROW ABOUT CUTTING GOVERNMENT SPENDING THAN ADDING TO IT----WE MAY HAVE THE GOLD NOW...BUT AS THAT MASSIVE DEBT HAS TO BE REPAID THE NEXT PRESIDENTS AND PERHAPS THE NEXT GENERATION ARE SURE TO GET THER SHAFT..

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