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Today should have been profit-taking time. The selling is surprisingly subdued. Perhaps this afternoon. There's an outside chance oil and copper are indicating a bottom to this recession.

They weren't morons - just sociopaths. AIG is the Enron of the financials. CDS mispricing was a scam that based on insuring bundled guaranteed-to-fail instruments.

Most of the AIG and Citi Tarp $'s are going into settling credit derivatives that should never be honored because the whole CDS scheme was a gigantic fraud to begin with. AIG and Citi are paying off those who were insured against losses on investments they got at cut rates and that were...

Maybe it isn't but because the American mythology survives there's always the possibility that we'll see a revival now that the theft of the nation is becoming so transparent.

True, there are plenty of looming disasters, but these possibilities are already largely factored in and they might be resolved in less-than-disastrous ways. We might see a Gov't guaranteed buyout of Chrysler and GM by Ford or some other variation on the investment banks theme (shareholders and...

Over 1000 tons. Definitely a powerful driver but the ETF total value still only represents a very small % of total portfolios. I don't think an unwinding is likely; investors see gold as diversification rather than salvation.

Exactly. There will be no capitulation precisely because everybody's waiting for it. It's never that easy. When this market reverses it will be 40% through its reversal before even the wiseguys realize it's for real. Forget TA; the number one rule is that the market never does what the...

Nice call. Hope you went in @ 889.0 . It was there for what - 3 minutes?

Pandit sez $8B before credit losses. We'll see. It's quite possible we've seen the bottom. Next few days will tell. So much money out there the world could turn on a dime. Information networks could facilitate unprecedented reversal.

Maybe. Should move more than that if POG isn't going to hold > 930. Good chance Gold will start drifting back up to 970.0 then move through 1000.0 again in next 10 days.

Maybe Canadian banks will come for them - at 2 cents on the dollar.

Obama started the week waffling around, but finished the week much in agreement with McCain. McCain isn't champing at the bit to resume the Cold War, but he plainly sees that Putin is. Now that the Russians are back on their feet they're ready to make a try at taking back the empire they...

Multiculturalism only works if everyone is dedicated to the common good; in the West, multiculturalism consists of factions fighing one another for priviledge. Western nations are losing their semse of identity and along with that their sense of purpose in being nations and their most...

All true; and consider this: The Soviet Union collapsed because it was bankrupt; today Russia is making a major comeback and probably wants to recover the empire it lost when it went broke. Everything's in Russia's favor right now and they know it. The U.S.'s professional forces are...

Yes and almost certainly.

CNN commentators claimed that Obama wrote the speech. I suspect that he hires speech writers to keep his message simple; his own thinking is too sophisticated to be accepted by the public. Obama's been outed as a thinker. He's doomed.

Obama listens, but how much does he accept. Obama seems to be a very sophisticated individual capable of making his own judgements. I wasn't much of an Obama fan before today but after hearing his speech addressing the uproar about his pastor I'm convinced this guy is far and away the most...

Quote from stu: Stu: Then accordingly, "Designer" / God does not have any direct observations and that fact has never been contradicted by observations. Santa has rational alternatives whilst ID / God does not.. +1 for Santa. Hans: I'm saying that the Santa explanation can be...

So, anyway... the real issue is that there is a rational alternative to Santa as a magical explanation for the appearance of presents under the tree - namely that Santa's a fabricated explanation and that presents appear under the tree by way of Mom and Dad and Gramma and Gramps, etc. ; this...

Only God can make P = 42.0 .