How refreshing to see the US Congress stand up [for once] for the will of the people and defeat this obnoxious bailout of Wall Street's Crooked Boys Club. It's high time somebody told Bumbling Ben Bernake and Hanky Panky Paulson to "stick it where the sun don't shine". Now we can expect the stock market to plummet like a stone in the ocean as the PPT pulls their "support" of the stock markets in a pathetic attempt to sway public opinion in the hopes that the people will scream in agony as their 401ks go up in smoke and demand that the "government" do "something" to stop the pain. Suck it up America, what's left of your financial future rests with your resolve here. Do not be fooled by these carpet baggers bag of tricks. Contact your Congressman immediately and DEMAND an accounting of the Federal Reserve, the US Treasury, and the President's Working Group On Financial Markets. It is the cronyism in these three houses that lead to this financial crisis. Do Not let these crooks convince you that they should be allowed to fix the mess they created. All of them should be pushed as far away from the banking system as is possible. In fact, DEMAND that the Federal Reserve either by abolished, or at the very least be placed under crushing regulation. The constitution NEVER intended for the Federal Reserve to exist, and it is time their theft of the wealth of this nation be STOPPED!
And once again the Dollar is up in the face of economic disaster? Yes, but it won't be for long. Never forget, until otherwise, the US Dollar is "still" the reserve currency of the world. With assets being sold globally, it would only stand to reason that the demand for Dollars would rise, temporarily, as people seek "refuge" for their investment cash. The rise in the Dollar IS NOT a flight to quality, it is a flight to refuge. As the dust settles, the Dollar will begin to fall, and Gold will begin to rise as people recognise the TRUTH, and shun the LIE that is the US Dollar.
What if the desperation of the Fed and the Treasury is because the US has sold or leased out ALL of it's Gold? What if the emperor has no Gold? Perhaps we should demand that Congress sanction an audit of the US Gold Reserves. What if the Fed and the Treasury has sold the nations entire Gold Reserve. Imagine the carnage...
Ron Paul - Bailout Fails! Plus: You're Going To Destroy the Dollar! [video]
Congressman Ron Paul gives us his thoughts on the failure of the bailout bill just minutes after leaving the floor.
This is a must see. The man is the VOICE OF TRUTH.
So why isn't the gold price running?
“We have argued for many, many years, as was the case in the late 1960s and early 1970s, the western central banks, particularly the US painted the tape, so to speak, to convey the image that the US dollar is better than gold,” said Murray Pollitt from Pollitt & Co. in Toronto.
“One way or another, the descendents of those bankers are doing the same thing…. They don’t want gold rallying when there are major bankruptcies. They don’t want people to flee into gold. They want them to flee into treasury bills, which is exactly what’s happening,” Pollitt told Miningmx.
The US government bonds are up two points on the day, he said. “They’ve just taken over Fannie Mae… and are throwing more money at the system. And people are buying bonds. It’s breathtaking. They should be buying gold.”
I have posted "weekly" charts of the Yen, Euro, Gold, and Silver. The "big picture" if you will. Weekly charts eliminate the noise of the daily charts and help put these markets into perspective relative to one and other.