My writing has been so negative lately, I thought I would try to be positive for a few moments and see how it feels.
It’s early morning and the bar is about to close, but until it does, all the booze you need to wipe away your pain will continue to flow. There’s no need to worry, Ben “the bartender” Bernanke will hook you up.
On this momentous day, following the lead of Robert Mugabe’s Zimbabwe, Bernanke is expected to drop the discount rate below official CPI and give a final blow to any American dumb enough to consider US dollars a store of value. Forget what you’ve been told, savings are so 1929. I thought this collection of one sided debates between Dr. Ron Paul and uncle Ben would be appropriate.
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Many have long suspected government and central bank manipulation of gold prices, but in this case, as all others, eventually the market overwhelms incompetent bankers. A watchdog group is now claiming that half the American gold reserve has been sold in a failed attempt to end the rally by flooding global markets with excess supply.
If you could trade your credit score for a nicer house, would you? Welcome to the new trend in American real estate. This could be interpreted positively, it would seem to indicate the number of future foreclosures will cause some to overstate the loss to actual revenue for lenders, but I would instead argue it’s more reason to be cautious when using the number of new mortgage applications issued or accepted as proof of some kind of recovery.
(click below to see the rest of this video)
What’s that in the sky? A bird? A plane? No, it’s the price of gold!
It sounds like he’s getting more comfortable. He speaks more eloquently when he’s not angry.
I watched Mad Money with Jim Cramer yesterday and was shocked to see how bullish he appears to be, all of a sudden. In the morning he released a video online saying the Fed is stupid, behind the curve and should be investigated. He also dropped a bomb on America’s largest bank, saying that if Citigroup had to mark-to-market their entire inventory they would probably declare bankruptcy.