The Blog of goldtracker

Well, I've been a bit silent because I took it easy this Thanksgiving. I hope you did too and that you had a good time with family and friends.

Of course the problem with that is I'm having a hard time getting back into the swing of things. But this too shall pass ;-)

That said, I came across some articles today that I think are well worth everyone's read.

If you read just one article, make it this one:

Bailout-a-Go-Go
by Peter Schiff
 

It is no surprise therefore that both Democrats and Republicans offered healthy "huzzahs" to Henry Paulson's latest bazooka: $200 billion to purchase securities backed by auto, student, and credit card loans. It is hoped that with this transference of risk to taxpayers, lending institutions won't be so cautious, and the credit-fueled American economy can thrive anew. This is unalloyed insanity that can only lead to total ruin.

Paulson stated clearly that he would like the Fed to print as much money as it takes to revive the economy. Unfortunately the only industry likely to be revived by such policies is printing itself. But even this will not help the United States as the majority of our printing equipment is imported from Switzerland.

But what if the root of our financial problem is that American consumers have already taken on too much debt? By trying to force feed even more credit down the throats of already overly indebted Americans, Paulson's plan will only weaken the economy further.

And this article gives a good run down on gold's behavior.

by Bob Hoye

One of the most fascinating aspects of great credit manias is that all six since 1720 have occurred with a senior central bank with the dangerous prerogative of issue. Each bubble was identified by the street as such until our era of asset inflations. Perhaps our financial establishment has been so ignorant of the dynamics of a mania they were unable to make the call in real time.

by John Browne

John offers a clear understanding of why the dollar is performing as it is right now.

And finally this article with it's graphs just might scare your pants off:

by Krassimir Petrov

The mainstream media and Wall Street have reached the consensus that the current credit crisis is the worst since the post-war period. George Soros’ statement that ”the world faces the worst finance crisis since WWII” epitomizes the collective wisdom. The crisis is currently the ultimate scapegoat for all the economic evils that currently plague the global financial system and the global economy – from collapsing stock markets of the world to food shortages in third world counties. We are repeatedly assured that the ultimate fault lies with the Credit Crisis itself; if there were no Credit Crisis, all of these terrible things would never have happened in the economy and the financial markets.

If these things play out, holding physical gold and silver is one of the best positions to be. Right now

has them trading at $781.50 and $9.55. You can use

to track in real time for free the current spot price on the big three precious metals.