Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Difference between Today and 1980

with 3 comments

1980 Vs. Today
  • The Federal Reserve’s key lending rate was in the teens, today it’s around zero percent.
  • Gold had just been retired as a currency.  Today, gold is being accumulated by nations as a currency diversification.
  • By 1980, bubble mania had set in and gold was being purchased to profit. Today, it still isn’t understood or held by most investors. Those that are buying, are buying not to lose.
  • The U.S. government was trying to tame inflation. Today, economist are worried about deflation and are advocating for more inflation.
  • Paul Volcker was in charge at the Federal Reserve and today, it’s “Helicopter Ben,” need we say more.
  • By the early 1980’s, after 204 years, the United States had an official deficit of around 1 trillion dollars. The last trillion added to the deficit only took 7 months.
  • In 1980 there are stories of gold shops that had lines that stretched outside the doors. Today, Americans are lined up outside “We Buy Gold” stores to sell gold. Sure there are gold commercials on news stations, but the massive public participation needed to fuel a bubble isn’t there. When “Cash for Gold” is running ads on Super Bowl Sunday, that’s a sign that the public is completely ignorant of the gold bull market, remember Cash for Gold is a company that buys gold from the public. In fact, CBS did a report recently that showed the public not only selling gold, but selling it for 10 cents on the dollar to companies like Cash for Gold.
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3 Responses

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