Stan Geiger

India's Message

China gets a lot of attention these days. China should get a lot of attention these days. It is the world’s most populous nation. It has the potential to become the world’s biggest economic power. But let’s not forget about India. India is right behind China when it comes to population. India is an emerging economic power, too. And India just issued a big fat vote of no confidence in America.

Unlike our own, India’s government apparently has some excess cash. Recently, that government reportedly chose to invest that excess cash in gold, buying some 200 metric tons of the stuff. India didn’t buy U.S. debt; India didn’t buy U.S. dollars; India bought gold.

I’ll take a brief moment here to pat myself on the back. Not too long ago, I admonished people to ignore the TV hucksters and hang on to any “unwanted” gold. Back then, as I recall, the price of an ounce of gold was about $900. Gold is now trading at $1,100 to $1,200 an ounce.

The TV hucksters are still at it, looking to buy every ounce of gold they can. The price of gold is at an all-time high---nominally. In real terms, however, it’s nowhere close. The inflation-adjusted all-time high price for gold well-exceeds $2,000 an ounce. I’m still not a gold seller. If anything, I’m a gold buyer.

Meanwhile, back at the ranch, India’s choice spoke volumes. And I think, for once, Washington listened.

India made its gold purchase just before its prime minister went to Washington to attend an Obama shindig. You remember the prime minister’s visit, right? Well, maybe you don’t. Maybe you don’t because the shindig thrown for the prime minister was the one the infamous “party crashers” attended.

I’m still not sure that deal was for real. Politicians aren’t above diversionary tactics. The “party crashers” may well have been an Obama White House creation, aimed at drawing attention away from the prime minister’s visit and any comments he might have made. I felt the same way when the Bush shoe-throwing incident occurred. Bush grinned while a guy in the press corps stood up and got two shoes in the air as his crack team of bodyguards stood around scratching ass.

At any rate, accidental or constructed, the “party crashers” got it done. Our geniuses in the national media bit the hook.

After the prime minister’s visit, Obama staged his economic summit meeting with a bunch of douche bags. The president stated we couldn’t afford another big “stimulus” package. Think about that. The greatest credit card user in Washington history said we couldn’t afford something.

Projections say the national debt, barring changes, will top $20 trillion in 10 years. At that point, Uncle Sam will be committed to spending a staggering $700 billion a year on interest alone.

I don’t care from where the wisdom comes. I just want it to come. If my turban-wearing brothas on the other side of the world can slap some sense into Washington, hey, I’m all for it.

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