Sp, re. "deflationary factors" I was reciting what Pento wrote "There is currently *no revenue or earnings growth* for American companies and the global economy is flirting with recession. On top of that America faces its own version of austerity come January. *Tax hikes* and *spending reductions* would cut 100's of billions off the fiscal 2013 deficit sending the already-anemic economy into a deflationary depression. With nearly 600 billion less debt for the Fed to monetize, the growth rate of the money supply would contract which would send asset prices and most markets tumbling."
He goes on saying "the government cares about fixing our entitlements, deficits and debt. Once the U.S. stops pretending it is concerned about the debts and deficits, commodity prices, especially gold, will soar."
(I'm assuming most on this board - myself for sure - want what precious metal/s we have to become more valuable). I was trying to as accurately as possible present what seemed like a well reasoned (Pinto) opinion of what could happen and how it could influence precious metal prices. Guess my paraphrasing efforts weren't very good : )
