Daily Gold Coin Update
October 15, 2009 - Gold coin investments showed scant movement today, but a growing financial problem for the United States could force precious metal prices upward. Our nation's budget deficit, which is growing at a feverish pace, has been an ongoing problem for politicians and taxpayers alike. Even if our economy is able to regenerate jobs and growth, our nation's budget deficit will more than likely reach an all-time record by 2019. Many analysts fear that our fledgling economy will be unable to produce either, which is why some visionary investors have made gold coin investments. These investors are determined to protect their financial future, since most of our lawmakers are merely protecting their own self-interests. Our budget deficit is only a drop in the bucket of problems that our nation's "leaders" have perpetrated over the years, but it is still an issue which demands urgent attention.
Our fiscal year ended on September 30, and the United States recorded a final deficit of about $1.4 trillion. This figure represents 9.9% of our gross domestic product(GDP) for one year, which is the largest percentage since 1945. The lack of parity between our government's revenue and its spending is mind-boggling. Total government income accounted for 15% of our nation's GDP last year, but spending accounted for 25% of the total tally. This is the largest discrepancy in these numbers in the last 50 years. Our government has refused to slow, pace, or control their spending in any way, and many of our lawmakers have advocated even more spending. White House officials have yet to offer a feasible plan that could allow our nation to reduce the budget deficit and the overall federal debt, and this delayed call to action has left many American citizens feeling abandoned by our government's chronic lethargy. A large number of Americans are anxious that our debt will continue to grow until our leaders run out of IOU slips, at which point the international community may come knocking. Many Americans have increased their gold coin holdings recently, because the global liquidity of coins that have been certified by the Professional Coin Grading Service(PCGS) and the Numismatic Guaranty Corporation(NGC) are a viable way to avoid the treacherous trap of the US dollar's downfall. In addition to the ease of liquidating precious metals, many investors appreciate the complete privacy that a physical gold investment provides.
Senior Staff Writer - Gold-Coin.com