GOLDBUGS AMEX Goldbugs Index (GOLD)

[peel+green]

Montanore "We must get rid of the Federal Reserve/Private banker chokehold on our money. They cooked up all the debt via their exclusive access to a printing press."

I'd gained a strong impression that politicians in government had 'cooked up' the debt by running increasing fiscal deficits over several decades and issuing government bonds to balance the books. International trading imbalances have not helped either. The Fed appears to have simply assisted Washington by printing dollars to pay the interest on the debt.

I'm not sure I'd use the word austerity either, but cut backs need to be made in significant numbers and politicians like to be out of office rather than in office when this is done, thus many of them are, I think, completely 'chicken' over doing it seriously.

Asia is buying gold. They don't like the US$ so much these days.