It's odd that gold is falling - now down to $1,533/oz. With this latest bailout being announced, I'd expect the opposite. Perhaps the dollars involved in bailing out Greece (actually, bailing out EU banks) just aren't sufficient to have muvh impact on our money supply and thus the price of gold. Don't worry: There will be more bailouts. From now until 'The End.'
Obama Presses Europe, Pledges Help for Greek Crisis
Published: Wednesday, 8 Jun 2011 | 2:05 AM ET
By: Reuters
President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.
Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.
After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue - a hint that he expects Berlin to help - while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.
"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.
"But it's going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF."
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"So we do see clearly our European responsibility and we're shouldering that responsibility, together with the IMF." With U.S. unemployment at 9.1 percent, Obama has blamed outside forces for impeding the economy, including high fuel prices, the earthquake in Japan and the euro zone crisis.
Full story: http://www.cnbc.com/id/43321461
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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