Crimes In Broad Daylight

The International Forecaster
By: Bob Chapman
Our government continues to do its best to suppress gold and silver and commodity prices. Their ham-fisted presence was quite evident this past week and it was only marginally successful. All they accomplished was to make an unnatural correction in a market that could have needed a natural correction. The underlying fundamental factors are still very bullish. The technicals and the long-term charts as well as pro-gold and silver psychology are still in place. The reality is that gold, silver and commodities are still in bull markets and intervention by the President’s “Working Group on Financial Markets” cannot and are not capable of stopping what are going to be the biggest bull markets in history. In both gold and silver bullion and shares the shorts eventually have to cover and that could prove to be one of the biggest bloodbaths of all time and the American taxpayer will get to pay for the losses. What else can one expect with the world financial system collapsing and hyperinflation on the way. Today’s strength in gold and silver have nothing to do with inflation and everything to do with a flight to quality. It has nothing to do with a falling dollar and a great deal to do with a loss of confidence and trust in the G-10. The other factors will add to the fire a bit later. The sophisticated of world finance are starting to realize the US financial system has been run by criminals for a long time. The ringleader of this gang of thieves is the Federal Reserve. That is why S604, HR1207, now attached to HR3996 is so important. It will lead to exposure of what the Fed has been up too for 96 years. These are the people who own the Fed, who have had a revolving door between Wall Street and Washington, particularly our Treasury Department, for many years. They created Fannie Mae, Freddie Mac, Ginnie Mae and FHA. Socialist-Fascist programs initiated by Wall Street to bring great profits to the wealthy lenders and great debt to the American people. Worse yet, there are no longer rules, regulations and laws, because the government regulators at the SEC and CFTC are always looking the other way under government guidance. These agencies absolutely refuse to protect the public against crooks in the fields of banking, ratings, investments and insurance. They are an integral part of the problem. Who in their right mind would take over these agencies instead of letting them fail, as they should have along with AIG, GM and Chrysler? The bottom line is the dollar and every other currency in the world has been falling against gold for six years and almost all general stock market indices have fallen 50% to 80% versus gold for the past nine years. Why don’t CNBC, CNN and the major media tell you that? It is because they are all bought and paid for – that is why. What market couldn’t go up in value with $12.7 trillion at its disposal? This has nothing to do with a healthy economy and everything to do with the Fed creating money out of thin air for its owners and throwing it at the stock market creating the second such bubble in the last 13 years. Do not be fooled readers. This is all just another scam that every American will get to pay for.
http://news.goldseek.com/InternationalForecaster/1260384196.php

An Obvious Question About The U.S. Government Gold...
Given the "robust" inventory of 100 oz. gold bars being reported by the Comex, how on earth is it possible that the U.S. has to keep suspending production of gold eagle and gold buffalo coins due to "a shortage of supply of gold?" The U.S. Mint announced yesterday that it is suspending production of 1 oz. gold eagles and buffalos for the balance of 2009. This is, I believe, the third time this year the Mint has suspended production:

"U.S. Mint now suspends all one ounce gold coin sales due to shortage of physical gold"

Here's the article link: U.S. Supends Gold Eagle/Buffalo Production

As a matter of fact the Gold Bullion Act of 1985 authorizes the U.S. Mint to use U.S. Government gold reserves if necessary:

In the absence of available supplies of such gold at the average world price, the Secretary may use gold from reserves held by the United States to mint the coins issued under section 5112(i) of this title. The Secretary shall issue such regulations as may be necessary to carry out this paragraph”.

It would seem that if the United States has 8100 tons of gold, as reported by the Federal Reserve and U.S. Treasury, then there should NEVER be a shortage of gold with which to mint coins. What gives?

Here is the complete text of Gold Bullion Act of 1985: Where's Our Gold Coins?http://truthingold.blogspot.com/2009/12/obvious-question-abou-t-us-goes-begging.html

A London Silver Trader Challenges The CFTC
The following letter is from a London-based silver trader to CFTC Commissioner Bart Chilton. I wanted to post this letter, which appeared in Friday's Midas report, for those who do not subscribe to http://www.lemetropolecafe.com/. Anyone who follows the gold and silver markets knows about the severe imbalance which has occurred for several years between the size of the short interest in gold and silver futures vs. the amount of physical gold and silver sitting in Comex warehouses. As an example, JP Morgan and HSBC combined (and it's mostly JPM's short) have a short position which represents 199 million ounces. This is nearly 4 times the amount of silver currently listed as "registered," or available for delivery.

In any other instance,with any other commodity, the CFTC (Commidity Futures Trading Commission), which is the Governmental body which regulates commidities trading, has always enforced "market concentration" regulations and restricted the size of the long or short position which can be held by any firm in that specific commodity. There is usually a standard applied which measures the amount of short/long interest in a given commodity vs. its available supply on the exchange. As Ted Butler has been pointing out for years, never in the history of commodity futures trading has the short interest in silver (and gold) come even remotely close to degree of concentration and nominal amount vs. available supply as it is in the silver market.

The issue here concerns the CFTC's refusal to impose the same standards to the silver market which have been applied and enforced in every other commodity market. Why does the CFTC refuse to address this issue in the silver (and gold) market? Bart Chilton represented to Bill Murphy last December that he would address the problem in the silver market. Since that time, a new chairman - Gary Gensler - was installed by Obama. Gensler is a former partner at Goldman Sachs (surprise surprise). He was also part of Robert Rubin's Treasury Department in the late 1990's. The egregious and balantant manipulation in the Comex gold and silver markets is largely attributed to policies implemented by Robert Rubin.

I wanted to post the following letter to demonstrate how blatantly the CFTC is enabling the massive manipulation in the silver market to continue. In my view, there is a very distinct connection between the appointment of yet another Wall Street crook to the CFTC post and the lack of enforcement in gold and silver trading.
http://truthingold.blogspot.com/2009/11/london-silver-trader-shines-spotlight.html

Today is December 10th. By my estimate, the last day of "early" December. Gary Gensler, CFTC Chairman promised a decision on CRIMEX position limits by "early December". Well Gary, spit it out! Either enforce the law, or close the CRIMEX. The future of the financial system needs your response to these "crimes in broad daylight" NOW!

New jobless claims rise more than expected to 474K
WASHINGTON — The number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks.

Initial claims for unemployment insurance rose by 17,000 to a seasonally adjusted 474,000, the Labor Department said Thursday. That was above analysts' expectations of 460,000 new claims.

The number of people continuing to claim benefits fell by 303,000 to 5.16 million, the lowest level since February. The total unemployment benefit rolls have fallen in 11 of the past 12 weeks.

But the so-called continuing claims do not include millions of people that have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government.

About 4.6 million people were receiving extended benefits in the week ended Nov. 21, the latest data available. That's an increase of about 130,000 from the previous week, and is partly due to an extension of benefits that Congress enacted last month.
http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho0Ur96V2TQhsBX19lGwD9CGFKUG0

Damn those little details. The unemployment rolls are not getting better, continuing claims don't even count those still collecting benefits via benefits extensions. Why does the government go to such great lengths to deceive with their "statistics"? Could it be they are in the business of "hiding the truth"? The US Government lie? Not outright, but their statistical reporting methods leave little to be desired.

Administration extends $700B bailout until Oct. 2010
WASHINGTON (AP) -- The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.

The administration insists the bailout fund is still needed to prevent further turmoil in the banking system. In announcing the decision Wednesday, Treasury Secretary Timothy Geithner said extending the program also will help homeowners struggling to avoid losing homes to foreclosures and small businesses having trouble getting loans.

The decision came on the same day the administration acknowledged two key bailout programs lost a total of $61 billion. The bailout of insurance giant American International Group Inc. and the lifeline thrown to struggling automakers each cost more than $30 billion, according to Treasury data disclosed in a report from the Government Accountability Office.
http://finance.yahoo.com/news/Administration-extends-700B-apf-3043495812.html?x=0&sec=topStories&pos=main&asset=&ccode=

"One of the fundamental lessons of the [financial] crisis is that when we underestimate financial risks and focus only on the short term, we set the stage for a future catastrophe," says ECB president Jean-Claude Trichet in an interview with the Belgian press published today.

Sovereign Debt Defaults Likely Over Next Several Years, Says Rogoff
Global markets tumbled overnight amid fresh concerns about the global economy, and more specifically, the prospect of sovereign debt defaults.

Standard & Poor’s lowered its outlook for Spain's debt grade as the country's finances worsened. A day earlier, Fitch cut Greece's long-term debt to BBB+ from A minus, marking the first time in a decade the country has seen its rating pushed below an A grade.Sovereign Debt Defaults Likely Over Next Several Years, Says Rogoff

As Dubai's recent debt crisis shows, more sovereign debt defaults will be likely over the next several years, he says.

The International Monetary Fund will try to prevent any global economic crisis in the near term says Rogoff, a former IMF chief economist. But, longer-term, difficult decisions remain about how to tackle mounting debt among G8 nations. "We can barely have the political will to raise taxes to pay our own debts," which means less money to pay for bailouts of other creditors, he predicts.

"In a couple of years as U.S. debt explodes, as German debt explodes, and they're all going to be pushing difficult levels, they're really going to start thinking. 'Hmm. Do we really want to cast this safety net?' We've got to scale back," says Rogoff, also co-author of a new book, "This Time Is Different: Eight Centuries of Financial Folly." The book outlines how periods of boom and bust are marked by bouts of overspending and mounting debt, whether by consumers, banks or governments -- just like the current crisis.
http://finance.yahoo.com/tech-ticker/article/387122/Sovereign-Debt-Defaults-Likely-Over-Next-Several-Years-Says-Rogoff;_ylt=Avi5Cj95IjpwoL2Br1wwy.S7YWsA;_ylu=X3oDMTE2Nmw3YWZxBHBvcwMxMQRzZWMDdG9wU3RvcmllcwRzbGsDc292ZXJlaWduZGVi?tickers=xlf,EEM,VWO,TIP,GLD,IEV,%5EDJI&sec=topStories&pos=9&asset=&ccode=

Speaking of sovereign credit rating credibility, the U.S. Treasury has $2 trillion in short term Treasury debt which has to be refinanced in the next 12 months. This does not include the net Treasury borrowing that will be required to fund the 2010 spending deficit. Back of the cocktail napkin guesstimate - the U.S. has to borrow an additional $3 trillion next year to fund everything. Does this sound like a recipe for a rally in the US Dollar?

Treasuries Extend Losses After $13 Billion 30-Year Bond Auction
“At these low levels of yield there is just not enough sponsorship to make the debt attractive, especially because more is coming on the longer end,” Jim Caron, head of U.S. interest- rate strategy at Morgan Stanley in New York, said before the sale. Morgan Stanley is one of the primary dealers, which are required to bid at Treasury auctions. “We’ve had two very bad auctions and that may start to change the psychology of the market and signal that it’s time to worry.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=atmWh_C.Afkk&pos=2

Federal budget deficit for November hits $120.3B
WASHINGTON (AP) -- The federal deficit for the first two months of the new budget year is piling up faster than last year's record imbalance.

Economists worry the flood of red ink could push interest rates higher and raise the cost of borrowing for consumers and businesses, a potential drag on the fragile economic recovery.

The November deficit totaled $120.3 billion, the Treasury Department said Thursday. That's less than analysts had expected and down from a $176.4 billion imbalance in October. It was a record 14th straight monthly deficit.

Even with the improvement, the deficit is 5.7 percent higher than the first two months of the 2009 budget year when it hit a record $1.42 trillion. The Obama administration expects the 2010 deficit will set a new record at $1.5 trillion.

In a sign of the recession's depth, the government said individual income tax collections totaled $63.9 billion in November, less than the $70.5 billion the government collected in Social Security taxes and taxes for Medicare and disability insurance programs.
http://finance.yahoo.com/news/Federal-budget-deficit-for-apf-3456582265.html?x=0&sec=topStories&pos=2&asset=&ccode

Dollar rally? Why? Because some fool anticipates some rate hikes from 0-0.25% to 1%? 1.5%?1% used to be considered an extraordinary low rate, and we're going to panic because Ben raises rates to levels that Alan caused massive bubbles with? Any Dollar rally[s] will be because of short covering and little else. I hope you're using these reactions in the Precious Metals to buy at a discount. 'Tis the season...

The US Dollar Is Not A Safe-Haven

"A real recovery requires real savings, real investment, real jobs, and real increases in earnings. As far as we can tell, they do not exist."
-Bill Bonner, The Daily Reckoning

U.S. Mint now suspends all one ounce gold coin sales due to shortage of physical gold!
"The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins. ... No additional inventory will be made available. As additional information becomes available regarding 2010-dated American Buffalo One Once Gold Bullion Coins, you will be notified." So said a memorandum issued Friday to authorized purchasers of U.S. Mint gold coins and reported by Jim Sinclair..

Mineweb reported only two weeks ago, on November 25th, the suspension of sales of American Gold Eagle coins by the Mint - U.S. Mint suspends American Eagle 1-ounce gold coin sales - again, which, at the time, reckoned such sales would be resumed early this month - but in the event, not only is the suspension of the Gold Eagle coin sales continuing, but also now the American Buffalo one ounce gold coin sales have also been suspended, with no new sales now planned until some time in 2010 - although the current sharp fall in the gold price may provide the Mint with a bit of respite from its supply/demand woes.

But supply problems also persist with smaller gold coins, particularly given the enormous demand for fractional sized gold coins following the suspension of the one ounce Gold Eagles. Thus the Mint was forced to issue a second memo on Friday saying "the American Eagle Gold Tenth-Ounce Coin inventory was depleted" and that "inventory for the half-ounce and quarter-ounce coins remains very limited." Following the sale of these remaining gold coins on Friday, the Mint anticipated that it would again offer all fractional sizes by mid-December, but in an allocation process.
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=94091&sn=Detail

"A Bull Market Doesn't End When The US Government Can't Meet Gold Demand."
-Le Metropole Cafe

Japan unveils new $81 billion stimulus package
TOKYO (AP) -- Japan's government on Tuesday unveiled $81 billion of new stimulus spending to keep the world's second-biggest economy from lurching back into recession.

Despite shrinking tax revenue, Prime Minister Yukio Hatoyama and his Cabinet agreed to 7.2 trillion yen ($80.6 billion) in new spending after days of negotiations with coalition partners.

The largesse underlines that the world's biggest economies are still too fragile to get by without government life support even as a recovery from the global recession takes shape.
http://finance.yahoo.com/news/Japan-unveils-new-81-billion-apf-1145780196.html?x=0&sec=topStories&pos=1&asset=&ccode

Obama urges major new stimulus, jobs spending
WASHINGTON (AP) -- President Barack Obama called for a major new burst of federal spending Tuesday, perhaps $150 billion or more, aiming to jolt the wobbly economy into a stronger recovery and reduce painfully persistent double-digit unemployment.

Despite Republican criticism concerning record federal deficits, Obama said the U.S. has had to "spend our way out of this recession" with so many people out of work but insisted he was still mindful of a need to confront soaring deficits. More than 7 million Americans have lost their jobs since the recession began two years ago, and the jobless rate stands at 10 percent, statistics Obama called "staggering."

Congressional approval would be required for the new spending.

"We avoided the depression many feared," Obama said in a speech at the Brookings Institution, a Washington think tank. But, he added, "Our work is far from done."
http://finance.yahoo.com/news/New-Obama-plans-spend-our-way-apf-1476302163.html?x=0&sec=topStories&pos=5&asset=&ccode

More deficit spending? And the Dollar was rising today as a "safe-haven"? Insane! And where did he get the idea we have avoided a depression? Postponed at best. We are actually in the midst of one, but no one dares to admit it.

Bernanke Sees ‘Formidable Headwinds’ for U.S. Economy
Dec. 7 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the U.S. economy faces “formidable headwinds,” including a weak labor market and tight credit that are likely to produce a “moderate” pace of expansion.

“The economy confronts some formidable headwinds that seem likely to keep the pace of expansion moderate,” Bernanke, 55, said today in a speech to the Economic Club of Washington. He said inflation remains “subdued” and might even move lower.

Treasuries advanced as traders pared bets the central bank will increase interest rates before August. Bernanke, in response to a question after his speech, repeated the Fed’s statement that rates are likely to remain low for an “extended period.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=alVKXec_boNE&pos=1

And the Dollar rose today as a "safe-haven"? Bumbling Ben says inflation might move lower? That all but guarantees it will be moving higher soon. Ben "Always Wrong" Bernanke is poor predictor of future market reactions:

(Bernanke's Failed CNBC Predictions From 2005-07)
http://dailybail.com/home/a-movement-by-the-people-to-prevent-the-reappointment-of-the.html

Left-Right Coalition Calls For Fed Audit Before Bernanke Vote
Leaders on opposite sides of the political spectrum joined forces today on a letter to the Senate demanding that Congress mandate an audit of the Federal Reserve Bank before voting to reappoint Federal Reserve Chairman Ben Bernanke for a second term. Although the groups may not agree on all the elements of financial reform, they do agree that the Federal Reserve should be held accountable to taxpayers.

The left-right coalition sent a letter to members of the Senate today includes Campaign for America's Future co-director Robert Borosage, Americans for Taxpayer Reform president Grover Norquist, FireDogLake blogger Jane Hamsher, Eagle Forum president Phyllis Schlafly Campaign for Liberty president John Tate and Center for Economic and Policy Research president Dean Baker.

The letter coincides with the announcement that Sen. Bernie Sanders, I-Vt., is placing a hold on the Bernanke nomination for the reasons cited in the joint letter.

The Federal Reserve took extraordinary actions in the financial crisis, committing trillions of dollars to bolster private institutions, and the letter says that these actions must be reviewed before any decision is made on Bernanke's nomination. Bernanke has opposed a detailed review and has not answered questions from Congress about the trillions of taxpayer dollars the Federal Reserve lent to banks and other private companies.

Bernanke and his supporters have argued that auditing the Federal Reserve would constitute a takeover of monetary policy, but signers of the letter believe this is disingenuous. What is at issue is not monetary policy, but an unprecedented assertion of fiscal authority.

The complete letter follows:
http://dailybail.com/live-beat/left-right-coalition-calls-for-fed-audit-before-bernanke-vot.html

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."
-Thomas Jefferson

Opportunity Knocks

European markets drop as dollar surge continues- AP

Dollar surge my ass! What financial media pundits refer to as a "surge" is nothing more than technical Dollar short covering. The nonsense we were force fed this past Friday afternoon about the "potential now" for the Fed to begin raising interest rates "sooner than later" because of the "sudden turn in unemployment" is pure bullshit. Bets that the Fed will raise interest rates "soon" are going to be bad bets.

On Friday the US Dollar Index broke a very long downtrend line. The catalyst was Friday's Jobs Report where the economy ONLY LOST 11,000 jobs in the month of November. [Never mind the fact that the economy has literally run out of jobs to lose.] The economy didn't gain any jobs in November, it ONLY LOST 11,000. [According to US Government statistics.] Short covering the Dollar was warranted on the breach of the downtrend. There is no fundamental reason on earth for a "surge to the Dollar" to occur. There is absolutlely ZERO reasons to outright be a buyer of the US Dollar here. There are uncountable reasons to to be a seller. And the sellers will return very soon, happy to get a better price thanks to the induced short covering Friday.

The unemployment rate after being "talked higher" since the October Jobs Report in early November miraculously drops from 10.2% to JUST 10% Friday. Euphoria spreads across the financial media like a warm blanket on Christmas Eve. Never mind the false euphoria late this summer when the unemployment rate fell from 9.5% to 9.4% and the financial media heralded "the bottom" in the jobs market...only to see the unemployment number continue to rise in the months that followed. With the way that the government rigs the measure of the unemployed, a 0.2% move in the unemployment number is statistically irrelevant.

Joel Bowman, reporting for the Daily Reckoning:
We've never met a statistic without split-personality disorder. Viewed in one light, for instance, losing 11,000 jobs in a month is relatively dandy for the US economy. It looks, prima facie, as though her job(less) market is bottoming out...that things could soon be on the mend. And lo, her unemployment figure even dipped, down from 10.2% to "just" 10%.

But wait just a minute, we hear those skeptics say. How could this be? How might an economy lose jobs and simultaneously witness a fall in the unemployment rate? Well, those figures don't allow for the people who are simply "defined" out of the workforce. For instance, the number of "discouraged" workers - literally people who have given up looking - increased by 53,000 to 861,000. In other words, more people "left" the official unemployed pool than joined it...even though they didn't actually find a job. Incidentally, that's the most "discouraged" workers since the recession began...which is pretty discouraging.

But why would people stop looking for a job when there's a recovery underway? Don't they watch the news? Good question. Maybe they went home for the holidays to sleep on Ma and Pa's couch...or maybe they're waiting until after Christmas to renew their efforts...maybe they're just fed up with getting knocked back...

Or maybe it's all of the above...

According to the Department of Labor report, the number of long-term unemployed (those jobless for 27 weeks and over) increased by 293,000 over the past month to 5.9 million. Two in five unemployed people now fit into the "long-term" category, up 2.7% from last month.

Statistics, you see, are rarely as straight-faced as they first appear...particularly when they end up on websites ending in "dot.gov."
http://dailyreckoning.com/

The 5-Minute Forecast's Ian Mathias also tosses us Dollar Bears a bone with this note:
We celebrate the jobs scene stepping back from the brink, but there must be some merit in noting that our current state of jobless claims "recovery" is at the same level of the worst - the absolute peak - of the last two recessions. We're also not even halfway back to the pre- crisis norm, nor are jobless claims below a level that would disqualify a double dip, as illustrated in the early '80s.

Clearly then, this "surge to the Dollar" is just another media induced hallucinogenic dose of CONfidence designed to further fool an already buffaloed public into believing everythink is OK.
Well, it's not...

Perhaps Friday's number was just a government lie, a Christmas gift to the "discouraged American":

The report doesn't match up with other jobs data: Today's report will no doubt be a head scratcher for economists as they try to understand how other labor market data could be so divergent. Earlier in the week, ADP reported private payroll losses of 169,000 for November. The Monster Employment Index, which measures online job demand, actually dipped slightly from October's number. "This was a shocking report because the reported payroll data bear little resemblance to any other evidence concerning the labor market, including the ADP survey, which is based on hard data from a much wider sample of payrolls than is the government's survey," says Joshua Shapiro, chief U.S. economist at research firm MFR.

A deeper look behind the jobless numbers
Despite the upbeat report, long-term unemployment worsens
http://www.msnbc.msn.com/id/34280589/ns/business-stocks_and_economy/

This Is Progress? Jobs Data Optimism Obscures Harsh Reality
As of now, more than 15 million people around the country remain out of luck. Beyond the 10% headline number in joblessness, the situation is actually worse. Factoring in people who have stopped looking for work and those in part-time positions who want a full-time job, the "underemployment" rate is 17.2%. In fairness, that was down from 17.5% in October, but it remains a daunting swath of the U.S. workforce struggling to make ends meet.
http://finance.yahoo.com/tech-ticker/article/384684/This-Is-Progress-Jobs-Data-Optimism-Obscures-Harsh-Reality?tickers=dia,spy,qqqq,%5Egspc,%5Edji,gld&sec=topStories&pos=1&asset=&ccode=

Now, considering a "sooner rather than later" increase in interest rates by the Fed. Poppycock! Looking past the fact that the economy has yet to turn the corner higher, see lackluster jobs reality above, consider that the amount of debt the US Government is in the process of issuing, and the thought of higher interest rates must abhor them. Raising interest rates anytime soon will KILL any and all hopes for a recovery, let alone a recovery itself. But stop and consider the effect of raising interest rates on the "costs" of financing the governments NECESSARY and ongoing debt issuance. The Fed and Treasury must be freaking out...

Think about this little factoid gleaned from a recent interview with oft quoted and much respected John Williams of shadowstats.com: If you taxed EVERY worker in the country at 100% of their incomes, and if you taxed EVERY business at 100% of their profits, you still would NOT have enough money to meet the funding needs of the US Governemnt. This is an absolutlely shocking revelation. You can here John Williams interview with King World News here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2009/12/4_John_Williams.html
I strongly suggest you find time to listen to the interview in it's entirety.

Taking this government funding shortfall as fact, why would the Fed raise interest rates, and increase the governments costs to finance their deficit spending? Deficit spending that is already pressured by annual service costs close to $300 BILLION Dollars? Are you kidding? The Fed will hold off on raising interest rates indefinetly for as long as they can. The Fed is no hurry to increase interest rates. The US Dollar will fall a LOT further before the Fed considers defending it with higher interest rates ala Paul Volker in 1980.

The Treasury Department will auction $74 billion in notes and bonds during this coming week. The government will sell $40 billion in 3-year notes on Tuesday, then $21 billion in 10-year securities on the following day. Another $13 billion in 30-year bonds will be auctioned on Thursday. I doubt traders will hang onto this idea that the Fed will raise interest rates "sooner than later" for very long.

U.S. Treasuries’ Biggest Overseas Buyer May Sell
Dec. 4 (Bloomberg) -- Speculation that the Japanese government plans to sell $100 billion of U.S. Treasury debt to pay for domestic spending may impede the Obama administration’s borrowing plans.

Japan has been this year’s biggest buyer of Treasuries, which means it has done more to help finance the widening U.S. budget deficit than any other country. Its holdings have risen by $125.5 billion, according to data compiled by the Treasury. The comparable figure for China, which surpassed Japan last year as the largest international investor in the securities, is $71.5 billion -- 43 percent lower.

Japan will inform the U.S. about the possible $100 billion sale, according to a Market News International report yesterday that cited “rumors” from unnamed sources.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aBKGmT4oRCOs&pos=15

Dubai World looks to sell assets in quest for cash
DUBAI, United Arab Emirates (AP) -- Dubai World may unload some assets to raise cash, a senior government official said, reflecting a potential about face for the heavily-indebted conglomerate behind much of Dubai's boom.

Dubai Finance Department Director-General Abdul Rahman al-Saleh did not say which pieces of the company are for sale. However, he emphasized that the assets in question would be Dubai World's alone -- underscoring the government's position that it is not responsible for debts racked up by a company it created and backed during the city-state's boom years.

"Like any company that has commitments, part of getting liquidity is selling some assets. Of course local or foreign assets," he said in an interview aired by al-Jazeera Monday.
http://finance.yahoo.com/news/Dubai-World-looks-to-sell-apf-3557768547.html?x=0&sec=topStories&pos=3&asset=&ccode=&sec=topStories&pos=3&asset=&ccode=

Might those foreign assets of Dubai World include some US Treasuries? [Perhaps even Gold?] Imagine the difficulty the Treasury may face in the not to distant future were foreign governments to begin selling their US Treasuries to raise cash to meet their own local government spending needs. This type of action alone would force an increase in interest rates. I highly doubt the Fed would seek to exacerbate the problem this will cause by raising short-term interest rates. The Fed has said repeatedly that they will NOT raise interest rates for an extended period...and they won't because they can't without destroying the country. What a wicked web they have weaved...

As I research and type this entry this morning, the US Dollar is once again in descent. Much like a stone tossed into the ocean. The Dollar is in big trouble. The US and Global financial systems are on the brink of catastrphic failure no matter what the government officials and financial tv talking heads would like you to believe.

Panic in the Gold market Friday and again this morning should be dismissed out of hand. The price of Gold did not even fall 4% Friday. Gold DOWN $60 certainly looks frightening, but in reality it is a drop in the bucket at these current prices. Go back to Gold at $970. A 4% haircut at that price was $39 Dollars. As price rises, the volatility in Gold in terms of "Dollars" will appear to be very extreme. Focus on the moves in terms of percent to calm any irrational fears about the market you may have. No market goes straight up. The Gold market was quite due for a reaction and consolidation. I alerted you to this possibility in my post on Wednesday, December 2, Like A Hot Knife Thru Butta .

So we have gotten a reaction in Gold. The catalyst was a somewhat suspect November Jobs Report and the currency traders reaction to it. The Dollar broke higher, and Gold got punished. So where do we go from here? Using history as a guide, similar moves up in Gold in 2005 and 2007 suggest a 38% Finonicci retracement is due before Gold adds another 50% to it's price tag. That scenario suggests a swift move to 1104 in Gold. A consolidative move here suggests Gold bounces around in a range between 1200 and 1100 until the realization that the Dollar has no where to go but down reasserts itself. This could last through to the end of the year. A lot will depend on these Treasury auctions this week. Also bear in mind that their is a severe physical delivery issue manifesting itself in the Gold Futures Markets globally. This bears close watching as the bullion banks are staring at $12-15 BILLION losses on their huge short bets against Gold. The CRIMEX goons want/need that real Gold as much as you, I, and the Chinese do. This should help keep a floor under Gold for quite some time.

Jim Willie has an excellent expose of the growing physical Gold Crisis in his latest essay. I encourage all of you to read it in it's entirety.

Gold Nexus for Powerful Struggle Underway for New Global Financial World Order
By: Jim_Willie_CB
The corrupted COMEX and London Bullion Market Assn are the clear battlegrounds for the gold battle. In an open manner, no longer hidden from view, the COMEX is settling gold long futures contracts with Street Tracks GLD shares. Investors in GLD shares should be horrified at shareholder contamination. Clearly, the COMEX does not have much of any gold bullion, yet it operates formally as an exchange to sell gold, and to create a market for gold price discovery. Some call this new redemption developed appropriately a silent COMEX default, and correctly so. It is the early chapter of a COMEX default, presaged last May.

The two-sided fraud deserves mention once more. In time, the Street Tracks GLD (run by State Street, with JPMorgan as custodian) will be exposed as totally corrupt. They are using GLD shares openly now to cover COMEX short futures contracts. They are likely providing GLD bullion to London to satisfy futures contract delivery demands. Evidence painted a picture after London gold delivery stresses occurred at the same time as vast deletions from the GLD bar list, which suddenly reappeared days later. That is burning the candle at both ends of the GLD itself. Eventually my expectation is for GLD shares to sell at a 40% discount to gold price as the lack of gold inventory is revealed. Then later, after lawsuits, the GLD might easily sell at 80% discount. Finally the climax could be prosecution for fraud and all investors will be given 20 cents per dollar versus gold. Who knows? Maybe it will be 30% and 60% and 40 cents per dollar. The trouble for hapless unsuspecting investors is they did not read the prospectus, which permits such misuse of GLD shares. They just might be lazy and qualified sheeple. The Wall Street crowd did effective planning. One must give a tip of the hat to their brain trust. The GLD is a tool to drain gold demand from the public and to supply it to the syndicate. It is one of the most brilliant open ploys in financial history.

This is just the beginning. We are still in the proverbial second inning of this gold explosion. Gold continues to rise because the system is breaking, because almost zero remedy has been completed, because pressures are brought to bear using the same broken tools to fix the problems, because mountains of new money are wasted and paid to failed bankers, because the crisis is ongoing, because the economies are not responding to stimulus, because home foreclosures and job losses continue unabated. Much more government rescue and stimulus comes, MUCH MORE. The Chinese are firmly in control of the gold price. They inch up the gold price systematically in order to release more supply from both the cash desperate and the investment knuckleheads. A big story has hit the press, that HSBC is backing out of the gold storage business. My gut tells me that HSBC might be clearing major bank vault space to hold Chinese deliveries from metals exchanges. The gold price does not merely rise from a weakening USDollar and major currencies. Nations intentionally try to undercut themselves in order to preserve their export economies. The gold price also rises from the gradual removal of shackles that have falsely suppressed the price, as supply has dwindled, replaced by paper gold, and probably tungsten gold too. In the last couple weeks, extraordinary scrutiny has come to the gold delivery system. The process reveals an unspeakable global shortage of gold bullion.

The gold price is attempting to adjust to a proper higher price free from interference, based upon supply matching demand. The gold price will rise further from continued debasement of the major currencies. Even now, with the COMEX and LBMA in London, the gold market cannot clear at the current price. There is an extreme shortage of gold bullion in physical supply, due to years of price intervention and replacement by paper gold. Apart from weak or destroyed currencies, the gold price must be higher from basic intervention relief.
http://www.marketoracle.co.uk/Article15513.html

Like A Hot Knife Thru Butta

The US DOLLAR:

"A currency that's depreciating faster than net worth in a divorce court."
- Eric J. Fry, The Daily Reckoning

Gold continues unbridled this evening reaching $1225 at 8:01PM est. as the markets in Hong Kong open. A vote of no confidence in the US Dollar echoes in all corners of the globe as the Mother Of All Short Squeezes tightens it grip on the balls of dem Rat Bastids on the CRIMEX in New York. Excuse me whilst I giggle...

The Big Gold Picture however begs me to pay attention, and not get too cocky over the CRIMEX goons demise. These criminals rise from the dead far too often. The WEEKLY chart of Gold posted above speaks for itself. There is definitely a case to be made that Gold is near an "interim" peak in price. In spite of the potential for a pause in Gold's current rise here, I believe that this leg up will continue to a minimum of 1300 by Spring of 2010.

Gold bottomed in October 2008 at 681. It then rose strongly through the Fall and Winter to peak at 1005 in March of 2009. A move of $324. Gold then consolidated this move in a long pennant formation that broke out around Labor Day at 980. Pennant consolidations often signal a continuation of the present trend and mark the halfway point of the move. Thus if we add 324 to 980 we get a "potential" Top in this leg up in Gold at 1304.

Gold will not "top out" in this leg up before Silver makes a new high above $21. LOL, given the fundamentals supporting Gold, the growing loss of confidence in the US Dollar, and the huge short position on the CRIMEX in Gold, Gold may not "top out" for a long time at a MUCH HIGHER price. But we must respect the technicals, and urge that traders use caution in Gold at this moment in time. Shorting this market, if you haven't noticed already, can be very dangerous. We urge caution for those looking to enter the market long here. Better opportunities most likely lie up ahead. If you insist on shorting this market, may God bless you. Investors...as always, sit back and enjoy the ride.

Gold… Selling is the Hardest Part
By Eric Fry
12/01/09 Laguna Beach, California – Ten years ago, everyone on the planet knew gold was a “Sell.” (Incidentally, everyone also knew that JDS Uniphase and Pets.com were “Buys.”) Investors scorned it. Central bankers sold it. Economists eulogized it. Today, gold is hated less…which causes some gold investors to worry that their favorite precious metal has become too popular for its own good. “Is the gold bull market about to hit a wall?” they ask themselves.

Your editors here at The Daily Reckoning have no answers – especially when money is at stake – but we do have guesses. In fact, we have a lot more guesses than money. And so we would guess that the gold bull market is far from over…very far. But having said that, we would also guess that the risk of a sudden, steep correction is far from zero…very far. In fact, an imminent correction seems like a plausible scenario.

The long-term outlook for gold remains as compelling as ever. This bull market is justified and “has legs.” But the Yellow Dog has run very far, very fast over the last few months.

The pooch might need a rest.
http://dailyreckoning.com/gold-selling-is-the-hardest-part/

Gold: Bullion banks have met their match
By Dan Norcini
...gold which has taken on a life of its own and is showing signs of getting ready to make a run to $1500 and above. The region centered around $1200 is formidable resistance on the inflation adjusted price chart and gold shot right through it this morning (those December $1200 call sellers are fighting like mad to keep that contract from extending its gains above 1200). In conjunction with that, the HUI took out the 500 level so both barrels are now firing in the gold sector. Not to be left on the sidelines, silver made that tough $19 barrier look like a fig leaf this morning as it pushed above that with relative ease, making a new yearly high in the process. While it is early in the week, weekly closes above $1200 in gold and $19 in silver will set both markets up for accelerated moves to the upside next week. We will need to watch things closely as the week progresses therefore to see whether the bulls remain resolute and committed.

One thing appears certain at this point – that move by India a while back to scarf up 200 tons of IMF gold, has changed the dynamics of the gold market permanently. In addition to that, more rumblings out of China related to gold purchases as part of its reserve diversification strategy have put a strong floor of support beneath the market. The Bullion Banks, while not to be underestimated, have met their match as a new bully has come into the sand box who is not intimidated by the plethora of paper gold that they manufacture daily in the Comex pit. This new bully is not enamored with paper money as is the West and wants to own the real deal.

That brings us to the US Dollar which once again has become the whipping boy for the international Forex markets. It has critical support coming in near the 74 level on the USDX. IF that gives way, we are going to be at 72 before you can say, “oligopoly”. It will take a weekly close above 76 to stem the negative attitude towards the Dollar. Interestingly enough, yesterday’s holiday-related release of the Commitment of Traders data showed the speculator category solidly on the NET LONG side of the greenback with the big funds having just this past week moved over to that side after being net shorts since May of this year . Quite frankly, that is a set up for swift leg down if 74 gives way. Not only will be see long liquidation but a rapid move to the short side of the market by these giant funds will crush the Dollar if the technical support levels cannot stem its decline.
http://www.commodityonline.com/news/Gold-Bullion-banks-have-met-their-match-23442-3-1.html

During the last nine years and 11 months, the S&P 500 has delivered a total return of -11%. The gold price has quadrupled.

The Federal Reserve Becomes the ‘Buyer of Last Resort’
By James Turk
November 29, 2009 – While the debate continues whether inflation or deflation will be the dollar’s eventual fate, the Federal Reserve is pursuing a pernicious policy that is insidiously debasing the dollar. This policy has generally been met with indifference, if it has even been noticed at all.

The inflation/deflation debate focuses only on the ‘quantity’ of dollars and completely fails to address an equally important monetary facet, the ‘quality’ of the dollar. The Federal Reserve is debasing the dollar by purchasing inferior assets of poor quality. These assets are mortgage-backed securities issued by federal agencies like the insolvent and for all practical purposes bankrupt, Fannie Mae.

These are assets neither the banks nor other investors want. If there was a demand for these assets, the Federal Reserve would not need to buy them. Instead of acting in its historical role as the ‘lender of last resort’, the Federal Reserve has on its own expanded its mandate to become the ‘buyer of last resort’.

By purchasing mortgage-backed securities, the Federal Reserve is debasing the dollar.

According to its latest report, the Federal Reserve now owns over $1 trillion of mortgage-backed securities, which is 45.6% of all assets owned by it. One year ago mortgage-backed securities were only 0.6% of the Federal Reserve’s total assets.

The Federal Reserve is very highly leveraged, much more than most banks. It is carrying $2,157.0 billion of debt on $52.8 billion of capital, giving it a leverage of 40.8-times more debt than capital. The mortgage-backed securities it owns are 19-times greater than the Federal Reserve’s capital, meaning that if the true value of these assets is 5.3% less than their book value, the Federal Reserve’s capital is depleted, effectively making it another insolvent institution.

Given that Fannie Mae is itself insolvent and most other mortgage generating federal agencies are not far from perilously sliding down to that same dire financial condition, it is reasonable to assume that the true value of these mortgage-backed securities is less than 94.7% of their book value. Consequently, the Federal Reserve is therefore – on a strict accounting basis – insolvent. It remains liquid because banks continue to provide it with funding and because people continue to accept in commerce and use without question the Federal Reserve’s liabilities, i.e., the paper currency it issues. But for how much longer?

On December 3rd, Federal Reserve chairman Ben Bernanke will be center-stage at the Senate for his re-confirmation hearing for another term. What should be center-stage and examined closely, however, are this professor’s chalk-board theories that he is using in his untried and untested experiments to solve the ongoing financial crisis.
http://www.fgmr.com/federal-reserve-buying-mortgage-backed-securities-debases-the-dollar.html

Don't miss Bumbling Ben's inquisition before the Senate tomorrow. My guess is it will appear more like an episode of Perry Mason than a Senate confirmation hearing. Expect the Dollar to miraculously catch a bid going into the fray in support of the foolhardy captain of our listing economy. Equities will be in the red, and the price of Gold will taunt him mercilessly as the Senators take turns holding the high priests feet to the fire.

Senator moves to block Bernanke confirmation
By Jeannine Aversa, AP Economics Writer
On 9:19 pm EST, Wednesday December 2, 2009
WASHINGTON (AP) -- Irked by the Federal Reserve's bailout of Wall Street, Sen. Bernie Sanders of Vermont said Wednesday that he will seek to block the Senate from confirming Ben Bernanke to a second term as chairman of the nation's central bank.

For now, the move isn't expected to derail Bernanke's confirmation, but it could slow down the process.

The maneuver by Sanders, an independent, comes on the eve of Bernanke's confirmation hearing before the Senate Banking Committee.

"The American people are disgusted with the greed and recklessness of Wall Street .... People are asking why didn't the Fed intervene at the appropriate time to stop the casino-type activities of large financial companies," Sanders said in an interview with The Associated Press.

Lax oversight by the Fed as well as other banking regulators has been blamed for contributing to the worst financial crisis since the 1930s.

Sanders told the AP he placed a "hold" on Bernanke's nomination. The Senate would need to have 60 votes to override Sander's maneuver to move forward with a vote on the nomination. Bernanke probably has sufficient support to overcome that procedural hurdle.
http://finance.yahoo.com/news/Senator-moves-to-block-apf-1472558191.html?x=0&sec=topStories&pos=1&asset=&ccode=

The Ultimate Safe-Haven Is Gold

“The real problem with government is not the deficit. The real problem with government is the amount of our money that it spends.”
-Milton Friedman

Gold broke higher overnight from a tall consolidative ascending triangle at 1180. This breakout projects to 1222, and would appear likely as this short consolidation worked a bit of the froth out of the market up at this level. Silver appears to be still held in check under 19...a break above 19 in Silver may well launch all the Precious Metals to points unknown.

[As I was finishing up this post, Silver PLOWED through 19 at 11:18AM est. Hang on!"

I fully expect all the Precious Metals to grind higher into Christmas as fund managers clamour for the metals to show exposure to the best performing sector of the year on their year end statements. The safe-haven status of the Dollar may have been proven benign last Friday, as traders quickly dumped it on strength for the safety of Gold as events unfolded in Dubai. 75 on the US Dollar Index would now appear as formidable resistance.

Dubai Panic Provides Stress Test for Gold
By: Rick Ackerman, Rick's Picks
Gold’s spectacular swoon on Friday provided fresh evidence that a red-hot bull market is in no imminent danger of cooling off. The initial plunge was orchestrated by bullion bankers and other promiscuous borrowers of gold when some unsettling financial news out of Dubai triggered a misbegotten panic into, of all things, dollars. Smelling blood, gold shorts pulled their bids when it looked as though the dollar was about to soar. Alas, the buck barely got off the launching pad before gravity re-asserted itself with a vengeance. The rally was so short-lived and feeble that it will have significantly diminished the dollar’s bizarre status as a “safe haven.” That in turn will make it harder in the future for the central banks of Europe, Japan and the U.S. to kick off an inevitable dollar-support operation with some “news” annnouncement designed to promote a short squeeze. Conversely, gold’s powerful, market-driven surge will now be even more difficult for officialdom to suppress, since Friday’s rebound was so swift and steep as to purge all doubts that bulls are overwhelmingly in charge.

The day is surely coming when financial panic seeks a safe haven, not in U.S. dollars or Treasury paper, but in bullion.
http://news.goldseek.com/RickAckerman/1259564460.php

Dubai Woes Give China Chance to Buy Oil, Gold: Report
BEIJING (Reuters) - Dubai's debt crisis could be China's opportunity to snap up gold and oil assets, a senior Chinese official said in remarks published on Monday.

No Chinese banks have yet reported exposure to debt from Dubai World, a flagship firm that last week said it was seeking to delay debt payments by six months. Some Chinese real estate and construction firms have limited exposure to projects in the emirate, state television reported this weekend.

China's $2.27 trillion in foreign exchange reserves are mostly parked in U.S. treasuries, despite calls from some in China to invest the reserves in oil and other natural resources that the fast-growing Chinese economy will need in future.

While the impact of the Dubai crisis on the global economy and on China was not known yet, it would last a while at the very least, Ji Xiaonan, who chairs the supervisory board for big state-owned companies under the State Council's state assets commission, told the Economic Information Daily.

"That could give China a buying opportunity to put some forex reserves into gold or oil reserves," Ji was quoted as saying by the paper, which is widely read by Chinese officials.
http://abcnews.go.com/Business/wireStory?id=9202792

Exit Equities for Cash, Bonds or Gold?
By: Peter Cooper, Arabian Money
A strong correction in financial markets would therefore seem unavoidable as the liquidity shock of the stimulus shots wears off. Last Friday the global markets showed a microcosm of what to expect in a big sell-off.

The dollar rallied, bonds rose sharply and oil and gold sold off. But it took only a matter of a couple of hours for a sharp fall in the gold price to attract new buyers and almost restore the price. It seems equity sellers took their dollars and immediately bought gold.

In that case investors cashing out of equities might be well advised to follow this new trend. For in a world where the ability of governments to repay debt starts to be called into question, or actually stalls in the case of Dubai World, then holding wealth in any currency is an issue, and the ultimate safe haven is gold.
http://news.goldseek.com/PeterCooper/1259564640.php

Madmen, Gamblers, Alcoholics, the US Dollar and Gold
by Ron Hera
The notion that a central authority, even one equipped with sophisticated computer models, can successfully substitute a mathematically-based view from on high for the individual judgments of millions of businesses, entrepreneurs, and consumers across countless regions and industries is not merely the height of hubris but quite simply mad. Fundamentally, it is entrepreneurs deploying private capital, not bankers or economists that create the products, services, business, and jobs that make up the economy. Whether for the sake of social welfare or for the purposes of monetary policy, intervention in the free market invariably distorts the distribution of wealth, causes a net reduction of wealth for society as a whole, and misdirects entrepreneurs into activities eventually revealed as uneconomic. Perhaps the best argument for the futility of central bank monetary policy is that of Federal Reserve Chairman Ben Shalom Bernanke, Ph.D., who said to graduates of the Boston College School of Law on May 22, 2009:

“As an economist and policymaker, I have plenty of experience in trying to foretell the future, because policy decisions inevitably involve projections of how alternative policy choices will influence the future course of the economy. The Federal Reserve, therefore, devotes substantial resources to economic forecasting. Likewise, individual investors and businesses have strong financial incentives to try to anticipate how the economy will evolve. With so much at stake, you will not be surprised to know that, over the years, many very smart people have applied the most sophisticated statistical and modeling tools available to try to better divine the economic future. But the results, unfortunately, have more often than not been underwhelming. Like weather forecasters, economic forecasters must deal with a system that is extraordinarily complex, that is subject to random shocks, and about which our data and understanding will always be imperfect. In some ways, predicting the economy is even more difficult than forecasting the weather, because an economy is not made up of molecules whose behavior is subject to the laws of physics, but rather of human beings who are themselves thinking about the future and whose behavior may be influenced by the forecasts that they or others make.”

Mr. Bernanke’s comments are not remarkable only for their clarity and candor, or because they are a stark admission of the failure of central bank monetary policy, but because they echo the founding principles of the Austrian school of economics. In fact, Mr. Bernanke provides excellent reasons for the repeal of the US Federal Reserve Act. Despite common misconceptions of economics as a branch of mathematics or as a hard science, economics is in fact a social science, similar to psychology. For example, when we speak of economic incentives we are referring to the manipulation of human behavior through artificial means to achieve policy objectives such as increasing consumer spending, just as pairing the sound of a bell with the introduction of dog food will produce dogs that salivate at the sound of a bell when no food is present (of course the salivation response can eventually be extinguished if no food is provided for an extended period of time).
http://www.financialsense.com/editorials/hera/2009/1130.html

The Catastrophic End of Market Manipulation
By Bix Weir
Market manipulation is very easy to implement with computer trading programs that execute millions of transactions back and forth in a matter of seconds steering markets wherever the programmer points his mouse. With no market oversight from the SEC or CFTC and an unlimited checkbook at the Federal Reserve the power to rig markets with computers is awesome.

To understand the full scope of manipulation funds available to Obama’s economic team it helps to understand how much money the government/FED has pledged in its various programs...many people believe it was only the $700B TARP funds but according to the FDIC the number is closer to $14 TRILLION as of 1st quarter 2009:

A Year in Bank Supervision: 2008 and a few of it’s Lessons

The real fraud here lies within the insider trading and "front running" of all this money at the point of execution for the huge market orders. The New York Federal Reserve executes these trades through their banking cabal conspirators called "Primary Dealers". By knowing the FED moves ahead of time and actually making the trades for the FED these insider banks have massively goosed their profits.

This year we have witnessed first hand the problem with planned economies and free market manipulation. Tim Geithner, Lawrence Summers and Austan Goolsbee have tried to inflate a contracting economy by using massive manipulation and deception across all markets and have failed miserably. What they have done is further transferred the wealth of our nation from the poor and middle class to the rich bankers that caused the mess in the first place. What they will see very soon is the “blowback” from their market manipulation project with the total destruction of our global economic system.

The Obama Administration Economic Team should be tried in court by a “jury of their peers” for the high crimes of Free Market Manipulation and may god have mercy on their souls.
http://news.goldseek.com/GoldSeek/1259617704.php

What is left of the value of a one-dollar bill?
Chinese-American named Won Park has found the answer.
http://www.investmentpostcards.com/2009/12/01/what-is-left-of-the-value-of-a-one-dollar-bill/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+wordpress%2FVYxj+%28Investment+Postcards+from+Cape+Town%29

How much do you know about the “Greeks”?
No matter what the investment, an investor needs to know and fully understand the potential risks of the investment prior to committing capital to that investment. In the options market, the Greeks define and quantify the risks of your position before you commit to the investment. Understanding the Greeks is a must for proper risk management. Further, the Greeks can also help you identify and select not only the proper strategy to fit the opportunity you selected, but also which specific options to use to create that specific strategy.

Today you need to watch this complimentary seminar covering the Greeks…
http://www.ino.com/info/36/CD4077/&dp=0&l=0&campaignid=9