With Obama's Treasury pick calling out the Chinese on currency manipulation, talks of the dollar falling apart has been louder and louder. Why? Because of our debt.
The U.S. government's spending spree to pay for wars and do loan bailouts are going to cost us. Countries like the Chinese have been buying U.S. debt. However, if the Chinese were to suddenly stop buying U.S. debt -- it would essentially cut our ability to repay our obligations.
This is why I'm buying NYSE: GLD [SPDR Gold Trust]. At 87.98, it's going to be a bargain. If the Dow continues to hit below 8,000 -- the dollar will continue to feel pressure and gold and other metals will continue to spring up as investors flock to metal commodities.
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