I look across the 50 acre field from my front porch to the creek lined by tall trees some half a mile distant and I see a deep green sea of corn plants which are near 7ft tall. Thank you, God, for the rain and what may be a bountiful crop this year. I will do your bidding if there is any extra money.
A few years back I was showing my nephew my collection of World War II items in my gun safe where I have some valuables other than weapons. He spotted my gold coins and asked what they were. I told him they were gold and the value had risen from $325 per ounce when I bought them to over $800 per ounce today.
He mumbled something to the effect of, "They do not seem to be doing anybody any good just sitting there."
Stung by his remark, but not fatally, I went about my wonderful life.
A friend who drives a large truck, which he owns, paid me a visit and told me he was having to pay very high interest to his boss who had loaned him $22,000 to fix his truck when it blew its engine, and had already paid him back $15,000 but still owed him $14,000 to get the debt settled. I took him to the bank, my bank and they did a credit check and he did not qualify for any loans from them. I then thought of the gold in the safe which was not doing anybody any good and I gave enough to him to retire his debt.
When President Obama asks the people with money to spend some of it, I sort of see where he is going with this. The money or gold or what have you on the sidelines is not helping. Help the economy, spend some of that loot you have stored up for a rainy day.
Nobodys ship floats when the economic seas have dried up. You can't buy something that is not there though many people have been duped with stocks and other trading devices, can you say derivatives? FaceBook? Global Crossing? Mercury Finance?
But dreams and hopes live eternally along side human greed and stinginess.
Now if gold would only dip to $1,277 an ounce, I am all in!
Jackson Delano Maybolt, President Urban Poverty Law Center
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