Wednesday, June 17, 2015

Politicians In Texas Have Been Infected By The Gold Bug

This article describes some of the crazy things that elected officials in Texas, including its past and present governors, have been doing to protect Texans from the federal government.  They believe that the federal government is destroying the value of the dollar (which has been increasing in value) and they want the federal government to return its share of gold to Texas.  It would then issue a currency that is convertible to gold.  This might have been a funny episode on the Colbert Report but unfortunately it is serious. Glenn Beck scared the hell out of his talk radio audience by predicting Armageddon and telling them to buy gold as a protection.  That helped to drive up the price of gold and Beck probably unloaded his share prior to the steep drop from the peak that he helped to create.  That was great for Glenn Beck but it has not been good for the gold bugs that he incited.  Many of them live in the Lone Star state and they get elected to high office in Texas.  "Hook 'em Horns!"

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