My Dear Friends,
Gold is clearly on its way to $1,650 and beyond. I have told you for many years that there was no PRACTICAL solution to the problems created by OTC derivative manufacturers and distributors namely our beloved “banksters.”
By practical I meant a solution that itself would not cause more dislocations than the problem to which it was applied already has. Now you see political realities both in taxation and quantitative easing.
Friends, there is no practical way out of this problem – none. We are going to inflate and spend as the entire Western world financial/political managers again try to kick the can further down the road.
No further proof is required.
The New York Times
December 6, 2010, 6:26 pm
Deal on Bush Tax Cuts Trims Payroll Levy
By JACKIE CALMES AND DAVID M. HERSZENHORN
President Obama closed in on a deal with Congressional Republicans on Monday to extend the Bush-era tax cuts at all income levels for two years as part of a package that would extend jobless aid for long-term unemployed, cut payroll taxes for all workers for a year and take other steps to bolster the economy, an administration official said.
In announcing the preliminary deal, Mr. Obama said Democrats were holding firm against what he portrayed as Republican attempts to only grant tax cuts to the wealthiest Americans.
“Make no mistake, allowing taxes to go up on all Americans would have raised taxes by $3,000 for a typical American family and that could cost our economy well over a million jobs,” Mr. Obama said at the White House.
Subject: USDX – POG Mathematical Model
We’re back in the upward green channel.
Jim Sinclair’s Commentary
First the President in Afghanistan and now Hillary.
Looks like Wiki-Fall-Out to me.
Cat and mouse: Iranian foreign minister shakes hands with senior U.S. official… but dodges Hillary Clinton
Posted By Josh Rogin
Saturday, December 4, 2010 – 12:11 PM
MANAMA, Bahrain—U.S. Secretary of State Hillary Clinton tried to speak with Iranian Foreign Minister Manouchehr Mottaki twice on Friday, pursuing him both inside and outside the gala dinner here at the Ritz Carlton in Manama. But Mottaki deliberately avoided contact with her both times.
“If he comes to the dinner, I’ll probably see him. But he doesn’t talk to me,” Clinton told The Cable in our exclusive interview just hours before the event.
Turns out she was right. Everybody at the opening dinner for the 2010 IISS Manama Security Dialogue, where Clinton gave the speech, was watching to see if she and Mottaki would trade words. After all, they were seated only five seats apart. Clinton went out on a limb twice to try to make it happen, but the end result was only an unintelligible mutter from the Iranian leader in the general direction of the secretary.