June 06, 2011 – The new gold bullion rush will begin when the American people have an epiphany, when en masse they understand the seriousness of the economic crisis and become willing to do whatever is necessary to survive.

The Wall Street Journal’s Peggy Noonan suggests we may already be there. “The American establishment has finally come around, in unison,” she writes, “to admitting that America is in crisis, that our debt actually threatens our ability to endure, that if we don't make progress on this, we are going to near our endpoint as a nation.”

Ms. Noonan’s assessment of the threat is dead on, but has the American establishment really come around to admitting it? Then why all the fuss over someone questioning how much aid we can afford to give to tornado victims? That is exactly the sort of tough questions we need to be asking. The well is dry, and there is no rain in sight. So what is holding things up?

According to Ms. Noonan the people “saw the crisis coming before most politicians did,” yet the preponderance of discourse on the subject reveals a profound disconnect between the world we perceive and reality.

“There are data demonstrating that people like government programs but not government costs,” Ms. Noonan says. “Many people feel they've personally played by all the rules and will reject any specific cuts or taxes that will put new burdens on them.”

We are accustomed to a better state of affairs, a time when we told our elected officials “to go to Washington and bring home the bacon,” as former Senator and co-chairman of President Barack Obama's debt commission Alan Simpson said. But “You can't bring home the bacon anymore, because the pig is dead.” Yet we keep asking for things that we can no longer afford.

I contend that we will have to be down for the count before we bounce back. It’s just our “Rocky” way of doing things. But we will bounce back, filled with a renewed sense of self- dependence.

With that will come a broad acceptance that only gold will preserve our wealth. The surge in individual demand will transform the gold bullion market and send prices soaring to previously unimaginable heights.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org