The Price of Gold and Silver Reflect Little Trust in the Obama Administration

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gold and silver

The chart on display showing the price of gold and silver over the last 25 years or so vividly demonstrates the fact that Americans feel that Obama has created a very unstable economic situation.

As we all know, gold and silver are precious metals, and hold their value stably for long periods of time, unlike paper currency which is subject to inflation. Buying gold and silver is a way of guarding against inflation and an unstable economy, and people tend to buy gold in times of geopolitical uncertainty. During such times gold and silver prices tend to go up, because they have become such precious commodities.

Now, if we look at the diagram in this article we can see that the price of gold and silver had been stable for around 20 years until 2006 (notice that the price of gold and silver fluctuate with each other). After 2006 the price of gold and silver really spiked after the stock market crash, going well into the two-term Obama presidency. The price of gold for example has been stable at around $1000/oz. during Obama’s presidency, whereas it was under $500 during the previous 20-year period.

This is cold hard proof that citizens are feeling uneasy about the economy and that Obama’s policies have been a marked failure.

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The opinions expressed in this commentary are solely those of the author and are not not necessarily either shared or endorsed by iPatriot.com.

Matyas Cserhati

PhD in biology, BSc in computer science. Live and work as a programmer at the medcenter in Omaha. Conservative 5-point Calvinist Presbyterian, and literal 6-day creationist. Also worked as member on the board of the Nebraska Association for Translators and Interpreters, speaks English, Hungarian, German, Dutch and has language certificates in Swedish and Norwegian.

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