Several readers sent this: IMF calls for dollar alternative [1]. Non-Dollar SDR bonds could replace the US Dollar in some international trade. This may hasten the demise of the US Dollar.
Fiscal Insanity: Here we are in the midst of a recession-cum-depression and the Federal government is swimming is a sea of red ink. They’ve amassed a National Debt that exceeds $45,500 for every man woman and child in the nation. But now Vice President Joe Biden is pushing for a $53 billion Federally-funded high speed rail system [2].
Air Force Dad sent this: Fed’s Warsh Quits; Bernanke Adviser Questioned QE2 [3]
The tightening of the screws: Cash for gold buyers regulated under proposed Washington [State] law. [4] I expect that the “45 Day Hold” provision will push down the buyer’s bids by 10%, to hedge their risk of a declining spot price for gold. So who loses? The private seller. Politicians need to learn about unintended consequences, and when to respect private commerce! Mrs. Asay may be a Republican, but she certainly isn’t one of the libertarian variety!
Items from The Economatrix:
Why Another Financial Crash is Certain [5]
Bernanke Says Unemployment Will “Remain Elevated” [6]
Over at Zero Hedge: The Great Global Debt Prison [7]
Billionaire Fund Manager Tomas Kaplan on Gold [8]