A $30 jump in the gold price should put a smile on the face of anyone with a strong position in gold coins.

July 06, 2011 – A $30 jump in the gold price should put a smile on the face of anyone with a strong position in gold coins. But the rebound follows an unnatural decline, and there is a long way to go before gold meets up with its long-term trend.

This is more akin to hitting oneself on the head with a hammer – it just feels good when it stops. I agree with Paul B. Farrell who says in MarketWatch, “We need to fix America’s looming credit default, failing economy and our screwed-up banking system. Now, with a Good Depression.”

Sometimes good is better than great. But how could a depression ever be good? In the words of Warren Buffett, “There’s class warfare all right. But it’s my class, the rich class, that’s making war, and we’re winning.” It’s time for a comeuppance, and we need a really big hammer to bring it about.

Farrell believes the problem is “not the economy, not markets, nor even politics. Yes, our economic pains are real. But they’re just symptoms. Something’s structurally wrong. Since 2000 endless bad news: Greed, deceit, stupidity, corruption, unethical behavior, lack of moral conscience … we lost our soul, our moral compass. America’s character is measured by our net worth.”

Former U.S. Comptroller General David Walker noted a striking similarity between the factors leading to the fall of Rome and the conditions in America today: “declining moral values and political civility at home, an overconfident and overextended military in foreign lands, and fiscal irresponsibility by the central government.”

The thing about depression is that it forces us to take a cold hard look at who is really running this country. When life is OK, we tend to let the status quo have its way. But when things turn ugly, we revert to the spirit of the frontier: we will fight for survival, and we will have no truck with anyone whose greed stands in our way.

We are being called to reinstate that which has made America great. “So pray for a Good Depression earlier rather than later,” Farrell says. “Choose now and we can be prepared for whatever comes. The longer we postpone the inevitable, the more intense the pain will be.”

And the higher the value of gold coin investments will climb.

Kevin Johnson

Senior Staff Writer – GoldCoin.net