"Money, when considered as the fruit of many years’ industry, as the reward of labor, sweat and toil, as the widow’s dowry and children’s portion, and as the means of procuring the necessaries and alleviating the afflictions of life, and making old age a scene of rest, has something in it sacred that is not to be sported with, or trusted to the airy bubble of paper currency."
–Thomas Paine


Jim Sinclair’s Commentary

Commercial loans carried on the books of regional banks are in general not being marked down to a proper value.
When the loan goes bankrupt it can no longer be carried at this false value. This is now starting and in its own way will be many little Lehmans in terms of commercial loans.

The US dollar is no safe haven.


Inflationist likely to be Obama's pick for Fed vice chairman


Over at Zero Hedge, Tyler Durden asks: Is The Federal Reserve Insolvent? (He's warning that monetization is the logical next step. So beware of inflation ahead!)


Doug Casey on Surviving Financial Apocalypse Now


Are Unemployment Benefits No Longer Temporary?


Public Pension Funds are "Going to Vegas"


National Debt to be Higher than White House Forecast, Says CBO




"What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves. If all it be nominally that of ‘society’ as a whole of that of a dictator, whoever exercises this control has complete power over us."
- Friedrich A. Hayek