BTH,
The new Congress will attack Bernanke and the Fed. I think Paul/Demint/Johnson will try to shut down the government when the debt ceiling bill comes up in a few months. I would say that there is a 90% chance that they will try to do this. Paul will probably introduce legislation to eliminate the Fed. This won't get very far, IMO. But there will also be legislation to change the Fed mandate and eliminate the mandate to reduce unemployment. An attack on the Fed will not be bullish for equities.
Rand Paul understands what Bernanke is doing and he (Paul) doesn't like it. If it were Paul alone, I'd say his efforts wouldn't get very far, but with Demint and Johnson on his side, this could get dicey. (shades of 1995 and the Gingrich Congress???)
All these shenanigans will probably be bullish for gold (and commodities?), although I'm not a gold bug.
Bladerunner
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