Monday, October 11, 2010

Some much-needed straight talk

Gold closed today at a record high, the dollar is in the basement, China and the world are de-leveraging from the dollar, the Federal Reserve is completely flummoxed and proposing more of the same poison as a cure, and members of Congress of both parties have decided to continue trusting the printing press of the unconstitutional central bank (even rejecting a bill to audit the Federal Reserve "see no evil, hear no evil, speak no evil" style).

And perhaps most amazingly of all, the people of one of the major parties in Connecticut passed this guy up for U.S. Senate in favor of a professional wrestler who is utterly clueless about economics. Honestly, how far are we from a horse sitting in the Senate?  The good news is that Peter Schiff will be more effective in continuing to help private investors weather the storm than he would be trying to teach the fools on the hill anything about basic economics.

Bread and circuses.

The show goes on. At least until the wheels of the joy-wagon go spinning into the ditch. The good news is that you can still see and hear frequent analysis by Peter Schiff here. His video blog is updated pretty frequently, and he will tell you what your clueless congressman or senator won't (or more likely, can't).

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