For those of you who were up late last night stealing cookies from the pantry, you may have noticed my late entry regarding the pesky Fed. I won’t ask why you were up so late if you don’t ask why I’m not discussing the bankruptcy of America like I promised yesterday. I figure we’re even.
Instead, I would just like to make a quick commentary about the world in its entirety. It seems there is some good news and some bad news (instead of bad news and worse news like I thought it would be). First the good news. It seems not everyone in this world is nutso!
China officially announced that it would enter the gold market. When I say enter the gold market, I mean virtually every aspect of the gold market you can think of. Mining, minting, trading, buying, selling and even assisting companies involved in gold trading. This is such a huge announcement that I don’t even know what else to say about it. Suffice it to say that the geniuses running China are using the morons running America to establish themselves firmly in the realm of fiscal solvency.
So we add China to Germany and Saudi Arabia (plus the others I’m unaware of) in the group of countries which are adding gold to their holdings. The world might not end after all! Let’s all go out and celebrate!
But don’t forget the bad news. The idiots in Washington are still spending trillions of other people’s dollars on worthless crap, the Fed is still encouraging the creation or more worthless paper money, and the United States is still running headlong to an enormous financial collapse which will result in the Greater Depression (and probably the bankruptcy of America).
Hopefully there will be time to get more into this tomorrow…