President Obama’s recently passed tax plan, along with the ”fall of the dollar, increasing debt crises, and the deterioration of the G7 nations are all part of a one faulty system. This will force even more investors to turn to gold and silver as their hedge against uncertainty,” wrote Rosanne Lin of Minyanville.com

In a scathing criticism of the newly passed fiscal program, Ms. Lin went on to say that “The inability of Obama’s administration to collect higher taxes will pose a long-term challenge to the American economy.  The government seems incapable of understanding that printing more money while reducing tax collection is a recipe to default.”

She also discussed the deteriorating financial condition of state and local governments in the U.S., and predicted that precious metals will continue to be the main beneficiaries of these problems.