Gold price depends on American tax cuts for the rich – gold prices can reach a new high this year as Bush vetoes any increase in tax by Democrats for the rich
Marla Guthrie
Feb. 3, 2007

A new class has been created – the Hedge fund folks – the no care class that has to worry about nothing!

Extra liquidity has slipped into Asia making Indians and the Chinese rich. The second reason for gold to rise in price is the fact that Indian and Chinese have a tremendous appetite for gold and silver. With inflation running high and wages rapidly increasing, the Chinese and Indian household bought gold like never before.

The oil rich Shiek’s of the Middle East are worried about their money being confiscated by the Western banks in the name of terrorism. They also bought gold to safe guard their wealth from the whims of the Western Governments and Financial Institutions.

All that continues now. The reason is the stalemate between the Republicans and the Democrats. According to Washinton inside sources, President George W. Bush and Capitol Hill Democrats vow to erase the federal budget deficit within a few years. When it comes to the steps needed to keep it from coming back -- reducing benefits and raising taxes -- neither side is budging. It is again a lot of talk but little action.

Gold is attractive as long as budget deficit is going to go up and tax cuts are going to stay in place for the rich.

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