For the times, they are a changin. – Update

I wrote the original article below on Jan 24th 2008.
Since then the FED has reducted its interest rate to 3%
encouraging even more people to borrow money, i.e. credit
which the FED says had crunched.

Smell something fishy?

POI: Gold went to $931 on 30th Jan (now at $907.9 1-Feb) 

Credit Crunch / Northern Rock etc, =
Bad loans (lobbox),
Lack of credit (lobbox and guffaw),
Lack of cash (yeah right, hence M3 flushed!)
Lack of cheap credit (guffaw).

What do we see?
ECB pumping HUGE quantities of cash into the system.
Fed making historical borrowing rate cuts!!!
Share values fluctuating wildly on a frequent basis
Gold jumping to $909/oz despite huge share gains.
Food prices of staples increasing sharply.
China has a meat supply problem
US debt never been higher.

Thoughtful of the US “authorities” to have all those camps ready, looks like there going to be receiving some guests soon.

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UPDATE…:

I’m glad someone agrees, and thanks to SpideredNews for bringing this to my attention:

http://www.youtube.com/watch?v=lIkaGZDx2a4
— sorry I’m a wordpress technoclutz. I don’t know how to embed YouTube here, so you have to DIY —

Mike Gasior – “Fed Up” – on the Fed – late Jan 08.flv

Mike Gasior discusses the actions being taken by the Federal Reserve and U.S. Government in response to the weakening economy and volatile financial markets. Mike thinks they’ve all lost their mind and everything they are doing is dead wrong and explains why.

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