The usual lapdog press said nothing. Hey, would you jeopardize your Hawaiian vacation by pointing out the emperor has no work ethic? Can you imagine what the press would have said if George W. Bush had gone mountain biking when they nabbed the shoe bomber? With an inexperienced, indolent, PC dilettante holding the reins of power, the U.S. is in for a rough ride for the next three years. I hope the dollar gets better and the economy recovers, but I'm not counting on anything from this guy. As Ben Franklin said, "He that lives upon hope dies fasting."
After an unprecedented time in U.S. history, individuals may want the security of something not associated with individuals who are intent on reviving Marxist-Leninist thought. Gold or any other commodity is one avenue. This doesn't mean value will be exactly preserved. Commodities are extremely volatile, emphasis on extremely again.
Democrats in the past have understood that commodities can be a haven for value and have tried to tax or confiscate such forms of value. FDR ordered the confiscation of gold. Carter slapped a "windfall profits" tax on U.S. oil and gas operations making them even less competitive with the Arabs. Obama is trying something similar. Cap and trade is a stealth way to get utilities to collect taxes for Uncle Sam. For now, there is little to stop him, but 2010 is an election year. Should gold remain high or soar, and the dollar remain moribund, these will be shorthand signs people do not trust this President and the errant fiscal course he has vowed to keep.