Tuesday, August 9, 2011
Barack Obama Says The US "Will Always Be a AAA Country"
On August 8th Barack Obama responded to the downgrading of the United States credit rating by declaring:
"This is the United States of America. No matter what some agency may say, we have always been and will always be a AAA country."
This seems like a highly delusional statement, and quite an arrogant one at that. Just because your country is the United States, that doesn`t mean that your country is immune from self-destructive and irresponsible behaviour. The US can no longer get away with borrowing money it will never be able to pay back, the US has been given a wake up call that there are consequences for their short term financial policies. But hopefully the American people won`t hold onto their delusional ideas that American can do no wrong, hopefully they will become informed of where the US dollar is headed and prepare themselves accordingly.
For those of us who refuse to delude ourselves, gold remains a comforting option and silver remains a highly exciting option in the coming days when the dollar will suffer greatly.