Financial Times/Andrew Edgecliffe-Johnson
“When Roger Williams got his turn at the microphone earlier this month, his question for the bank CEOs lined up before the House committee on financial services seemed an unusual one to put to seven sharp-suited financiers. ‘Are you a socialist or are you a capitalist?’ the Texas Republican asked each of them, from Citigroup’s Mike Corbat to David Solomon of Goldman Sachs. None struggled to assure him of their free market bona fides, but the fact the question was even asked reflected a remarkable change in the discussion about business in Washington and beyond in recent months.”
USAGOLD note: Whodathunk? Now as younger people of voting age embrace socialism (Gallup puts that number at 51%.) some on Wall Street are beginning to get concerned. Those with a positive view of capitalism amount to just 45% in the 18 to 29 year old grouping. These trends if they gain political momentum, and that is the fear according to this Financial Times article, ultimately will translate to higher taxes, more government spending, and looser Fed policies. In the end, opening the floodgates on socialism equates ultimately to opening the floodgates on money printing and, in that context, the floodgates on gold ownership. For those who like to stay on top the trends, this article is a must read.
