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Message: FDIC to be allowed to borrow unlimited funds.

FDIC to be allowed to borrow unlimited funds.

posted on Oct 01, 2008 07:22AM

In the new bill is going to be a provision for the FDIC to borrow unlimited funds from the US treasury.

Everything we're seeing in the last couple of weeks is pointing to massive inflation. That has to be good for gold. I agree with the previous poster that the EURO's hit is temporary.

This is the calm before the next gold rush. It's probable that gold will dip on the news if the new package goes ahead. Of course, if it doesn't... well it's going to send gold up to about $2000 in a big hurry (imho) and there is no bloody way that tdc won't trade way higher if that happens.

Also, I note that I've never seen so much as one add for gold on CNBC or even much talk of it before. Now, you see two or three ads per hour for gold coins (they say they're eagles and selling for 90 dollars... ya maybe 1/10th ounce or plated or something like that?) also "we'll buy your gold" ads.

A lot of uncertainty out there but only thing for sure in my mind is gold over the long term.

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