since President Bush was elected the price has risen to $738.90 an ounce.
2007-09-23 14:00:39 · 15 answers · asked by Sweet Suzy 777! 7 in Politics & Government ➔ Politics
Wow is it really that high now? I remember a couple years ago it was only at around 500.
Man, I wish i invested in that deal.
2007-09-23 14:03:28 · answer #1 · answered by Anonymous · 3⤊ 1⤋
I know , thanks to consumer spending , Oil , and Gold , all in which I invested in when Bush took Office , and everyone went on a spending spree , with new cars , new houses , new everything , while all of them were out digging a hole of debt , I used the low interest rate to re finance my existing home , paid it off , and invested more , So while everyone I know who was out buying ,buying ,buying , and laughing at me ..I know sit laughing at them , they are Broke , in debt , and some are in foreclosure , I am cashing in investments , I have a substantial savings , and I am re investing money too , they will be working until age 65 , or longer , I am retiring at 45 , and living pretty good ....
As far as high prices , As long as people are stupid enough to pay higher prices , the companies will be stupid enough to keep charging higher prices , after all they are in the business to make money ..
Bush has nothing to do with supply ,and demand ,
Too many people have a Champagne Taste while they live with a beer budget ....which is why the housing market is in trouble ..
Same as with Gold , and everything else , The Peoples Lust for material goods , and the Banks Greed have clashed , and this is just the beginning , it is time to pay up for the sins of lust ,and greed , However until it gets real bad I am going to keep cashing in on peoples stupid over spending with extended credit...
2007-09-23 21:34:06 · answer #2 · answered by Insensitively Honest 5 · 1⤊ 2⤋
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2007-09-25 03:50:04 · answer #3 · answered by mmopawncom 1 · 0⤊ 0⤋
I think it's actually not that gold (or oil) has gone up. The dollar is going down; being diluted by printers gone wild. The debt topped $9 trillion a few days back.
2007-09-23 21:35:19 · answer #4 · answered by Anonymous · 1⤊ 1⤋
Did you know, DVD players cost around $300.00 when Bush was elected and now they only cost $60.00.
What does either have to do, with the price of cheese in Wisconsin?
And as to the Gold Standard, we cannot go back to it, even if we wanted to.
The known gold reserves on Earth, not just in the US, but on earth, only have a value of 2.5 trillion dollars.
Thats less then our yearly Federal Budget.
That makes it kind of hard to base our currany on gold, when there is not enough gold on earth, to even back one years federal budget.
2007-09-23 21:10:20 · answer #5 · answered by jeeper_peeper321 7 · 0⤊ 2⤋
Are you buying gold?
The last that I saw, US inflation is still well under 5% per year.
Weren't AOL and Excite selling for about $300 per share back then too? Now they were worth next to nothing.
2007-09-23 21:52:27 · answer #6 · answered by How Big is Your Govt Check 3 · 0⤊ 1⤋
Did you know that in the early eighties, it went up to almost eight hundred?
At one time, it was thirty five dollars an ounce.
It serves as a true reflection on what people think of today's economy.
2007-09-23 21:17:11 · answer #7 · answered by justa 7 · 0⤊ 0⤋
YES! I love it don't you? oh by the way, I bought my gold in 2000 so I'm cool.timing in life is the key! for your information Pres.Bush has no control over the price of gold or the price of oil.sorry to disappoint you!
2007-09-23 21:27:46 · answer #8 · answered by Anonymous · 1⤊ 2⤋
Of course. The dropping dollar has pushed up precious metal prices and the price of oil. Not to mention, everything else.
2007-09-23 21:07:52 · answer #9 · answered by Anonymous · 1⤊ 2⤋
Yes. And do you know that the same thing happened in the late 70's? It ended up dropping like hot coal.
I do believe in the gold standard and wish that we would go back to it, though.
2007-09-23 21:04:04 · answer #10 · answered by Anonymous · 0⤊ 4⤋