Goldseek is a regular stop on the web for me and Rick Ackerman is a must read. I don’t subscribe to his services so only know him through his Goldseek appearances. He’s all about making money, not about making political hay. IMO his analysis is very reliable. Today he points out the enormity of the debt problem and the futility of the bailout.
…even using very conservative numbers, we must reckon the implosionary force of the derivatives markets as being at least a 15-digit sum (i.e., $100,000,000,000,000) [100 trillion]. Stack that up against Congress’ $700 billion bailout plan and you begin to see why the mega-rescue cannot work.
And here’s one from August 2006 for those who want some “I told you so” evidence. Note the prices of the Dow, oil and gold in the upper left corner.