Covering the Economy: Hoarding Gold and Ammo

In a redux of the controlled hysteria in the days before Y2k, some people are stashing essentials in case civilization, as we know it, disintegrates. Here are some story ideas:

Stashing Gold at Home
NEWSWEEK is reporting “with prices setting new records, the worried wealthy are piling up ingots in home safes.” Read the story here.

Gun shops are NOT suffering through the tough times.
Apparently, President Obama is the best gun salesman we’ve had in the last 50 years. Gun shops are NOT suffering through the tough times. LA Times is reporting FBI background checks on prospective gun owners increased 8% since the election.
Had conversations with two people this weekend who are shoring up their cache of guns and ammo. They plan to be ready to ward of looters and protect their families if social structure unravels. And, they are still not confident the new President won’t cave into the far left and restrict their rights.

Obama’s Tax on Ammunition
Fueled by one of those politically-motivated email hoxes, another of my friends is stocking up on ammo. “You haven’t heard that Obama is going to raise the price of ammo 500%?” he asked. He believes President Obama has included an ammunition tax hike on ammunition in the omnibus spending bill.

The Orlando Sentinel reports: “Most in demand is handgun ammunition, including 9 mm and .45-caliber for semiautomatic pistols and .38-caliber for revolvers. Clerks at local Walmart stores.. say those sizes, along with .22-caliber, are on back order at the chain’s warehouses.”

Go by your local gun shop. I bet the sign out front will tell you to stock up before the price goes up. and, indeed, some ammo is in short supply.

Real Cause of Ammo Price Hikes

The reason for ammunition prices going up may have less to do with Obama, or the economy, and more to do with metals prices.  MSNBC wrote about this last June.

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