A Spending Freeze ?

Chuck Butler of Everbank is writing another gem here, which only makes me more clear on why I own gold AND why I encourage others to own gold AND why they in turn tell their family and friends to own gold and silver! A spending freeze? Wait and watch what happens to the precious metals after this promise on a spending freeze becomes hollow. Here's Chuck from two days ago:

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Well... What have we here? Is this for real? OK, I know I have your attention now... Did you see that the U.S. Gov't has proposed a spending freeze? WOW! I mean, after you've spent $1.9 Trillion (that's already in this year's budget) what more could you find to spend money on? I find this laughable, But, a good sign at the same time.

Yes, look for this announcement at the President's State of the Union address, tomorrow night... A 3-year spending freeze... Of course, that doesn't include defense spending... Which I guess is a good thing, considering we're fighting two wars right now... So, on one hand, I find this laughable, because before health care was deep sixed by the people of Massachusetts last week, there's no way the President would have made this announcement of a spending freeze... On the other hand, though... It's the first sign, that maybe, just maybe, spending can be lassoed in and brought under control... Of course, that's a long and winding road, that leads me to your door, but... You've got to start somewhere!

Of course, what will the President do if the economy does experience a double dip like I've said I believe it will? You know darn well that there will be calls for more stimulus spending... Then what's a President to do? Well, maybe he won't say, "watch my lips, no more spending"... HA!"

You are so right Chuck! A gold coin in your hand - that is the only item that can protect you from monetary madness. Buy gold! That is your true inflation hedge!