How's gold doing dash? Is it at $40,000/oz yet?
Gold -- glad you asked. Dropped down from a peak over $1000 to about $870, where it found support and it's now at $903/ounce, seems to be creeping back up.
Silver's at $17.31, peaked around $21 and fell back, it's creeping up as well.
Canadian dollar was stronger, about .98 CDN for 1 USD, now it's down to about 1.015 to 1 USD, and rising again.
The public seems to have responded to a number of recent actions by the Fed and Paulson -- granting the Fed huge new powers. Scary stuff -- road to socialism and all. Fed is bailing out banks right and left. 93 anonymous banks bid for bailout funds from the Fed, using SIV's and other garbage as collateral. 93! Watch out for bank failures and runs on banks, the reserve requirements have been really reduced. A lot of banks are insolvent.
Fed's actions are designed not to solve anything, but to delay systemic collapse. My personal theory as that the hope is to delay economic collapse until after the 2008 elections. Special interests are afraid of Obama because he might capture the hearts of the public, and receive a voter mandate. In that case he won't be controllable. Powers that be behind the political arena love it when candidates are 50% popular -- ideal is 50% love 'em and 50% hate 'em. Then they need the support of the special interests to stay in office.
If they get too popular, they don't need such support, and they're wildcards -- out of control. Who knows what they might do then? Maybe really change how things work? Fix it so the system can't be gamed so easily? That's what the special interests fear.
I think this situation was a joke that backfired. A sort of Hobson's choice. Ok, you've got the white guy who represents the status quo -- endless trouble in Iraq, probable bombing of Iran -- more of the same old hash. And you've got a woman, first in history there. And you've got a black guy -- another first. What a joke played on the public! And all three are controlled by the same behind-the-scenes special interests.
Clinton & McCain are perfect, they're both loved + hated -- more 50/50. But Obama? He might become another Kennedy. Too well liked. I figure that's why Clinton can't throw in the towel -- her masters demand she keep trying while they assist from behind the scenes.
And on the other side, these people are pressuring the Fed + Poulson to keep the economy together until after the elections -- just in case. If the economy tanks, they lose a McCain victory because everyone will blame Bush/Republicans for the mess. If they can just hold out long enough, McCain can win.
If the economy tanks, the democrat wins. Ok, so that had better be Clinton (according to their thinking) because she'll be controllable, and maybe Obama won't be.
Meanwhile to ensure a Republican victory, Bush really wants to bomb Iran and embroil the US in another disasterous middle east situation -- "Can't change horses in mid stream, can we?" Scary stuff.
Me? I'm voting for Ron Paul, as crazy as that sounds.As far as I'm concerned all three "viable" candidates are identical, puppets under the control of the same anti-American forces. Voting for Ron Paul isn't throwing away my vote, because I don't really care
which of the other three win. I'd be trhowing away my vote if I
didn't vote for Ron Paul.
Yeah, I'm spouting woo alright. We're watching history unfold before our eyes. Current events are unprecedented, but it's so easy to just turn a blind eye to them. Nevermind, just get back to World Of Warcraft.
-Dave
