THE TRUTH IS POUNDING ON THE DOOR NOW

There is pathetic, and then there is "patently pathetic" flim-flam on the CRIMEX. Today fell under a new category of "blatant, criminally obvious" flim-flam on the CRIMEX. Look at the chart posted above from kitco.com. This is a snapshot of "fearless criminals" at work. This is a crime being committed in broad daylight infront of the eyes of millions. Where is the outrage?!

Seriously, what fundamental issue changed this morning that would support a blast higher in the US Dollar and a dump of Gold at exactly 8:20AM est? There were NONE!

Friday the markets had to endure the financial news talking heads euphoric reading of another dismal non-farm payrolls report. ONE QUARTER OF A MILLION jobs disappeared from the economy. This was nothing to celebrate. The unemployment number fell ONE TENTH OF ONE PERCENT because the jobs market is so bad over 300,000 Americans gave up looking for work. This is nothing to celebrate.

Be that as it may, this euphoric "reading" of the July Jobs Report scared the crap out of many weak dollar shorts and they covered their bets that the US Dollar was heading lower from multi-month lows hit last week. This week opens with a most revered "Fed Meeting" looming, and the Dollar Shorts convinced that the recession is over and we are "on the road to economic recovery"! And if the recession is over the Fed must be about to signal a rise in interest rates...

So, more weak Dollar Shorts cover their bets that the Dollar will be going lower from here. A rising Dollar pressures Gold. And who's to say the Fed wasn't out there this beautiful Monday morning using some of those Euros they got in their last Dollar Swap with the ECB to buy some Dollars to "prop it up"? Maybe the weak handed shorts had nothing to do with this "sudden rush" into the Dollar at EXACTLY 8:20AM est this morning.

Two stories out over the weekend hardly spell strength for the US Dollar:

Geithner Asks Congress to Increase Federal Debt Limit
Washington -- U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is "critically important" that they act in the next two months.

Mr. Geithner, in a letter to U.S. lawmakers, said that the Treasury projects that the current debt limit could be reached as early mid-October. Increasing the limit is important to instilling confidence in global investors, Mr. Geithner said.

The Treasury didn't request a specific increase in the letter.

"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Mr. Geithner said in a letter to lawmakers.

Mr. Geithner said the that it is "clearly a moment in our history" that requires support from both Democrats and Republicans for the increase.

"Congress has never failed to raise the debt limit when necessary," Mr. Geithner said.

The non-partisan Congressional Budget Office said Thursday the federal government's budget deficit reached $1.3 trillion through the first ten months of fiscal 2009, on track to reach a record high of $1.8 trillion for the 12-month period.
http://online.wsj.com/article/SB124970470294516541.html

This is freakin' outrageous!

"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Mr. Geithner said in a letter to lawmakers.

And the first three letters of the word "confidence" spell what? CON! How does authorizing the US Government to go FURTHER into debt instill confidence? America can not pay it's debt to the World, so if we take on more debt we can? I think I am going to puke...

Deficit grew by $181 billion in July
Bailouts for financial firms and billions in tax revenue lost because of the recession drove the deficit to a record $1.3 trillion in July, according to the independent Congressional Budget Office (CBO).

Tax receipts that have fallen due to the poor economy and increased spending to save car companies, banks and mortgage firms were major contributors to the federal deficit, according to CBO, which provides official budget numbers for Congress. The federal deficit grew by another $181 billion in July.

Falling tax receipts and increased spending on bailouts for auto companies and the financial sector and for the economic stimulus package added to the deficit, according to CBO.

Spending through July of 2009 has increased by $530 billion, which is 21 percent over the same period in 2008. The bailout money for banks, Freddie Mac and Fannie Mae accounted for almost half of the spending increase. Unemployment benefits have more than doubled, Medicaid spending has grown by a quarter and Medicare spending has increased by 11 percent.

Tax revenue for the first three quarters of 2009 has fallen by approximately $350 billion, or 17 percent compared to the same period last year, due mostly to the effects of the recession on payroll, income and corporate taxes. A third of the decline is due to tax breaks in the stimulus, including the middle-class tax cut that President Obama campaigned on during last year's election.

The independent budget scorekeeper has projected the deficit to reach $1.8 trillion by the end of the fiscal year, Sept. 30. The deficit in 2008 reached $455 billion, which was a record at the time.
http://thehill.com/leading-the-news/deficit-grew-by-181-billion-in-july-2009-08-09.html

Is this revelation, mostly overlooked by the financial news media, US Dollar positive news? LOOOOOOOOOOOL! I know, that was a dumb question. Yet the Dollar rose today, and the price of Gold fell.

Stay the course folks, ...THE TRUTH IS POUNDING ON THE DOOR NOW.