"We live in astonishing financial times. In its latest reports, the US Fed has let it be known that total Fed lending has climbed above $US 2 TRILLION for the first time. That is a rise of 140 percent - or $US 1.172 TRILLION - in SEVEN WEEKS!! The total includes a $US 788 Billion increase in loans to banks through the Fed and another $US 474 Billion in other lending, mostly through the central bank's purchase of Fannie and Freddie bonds. Here comes the problem. The Fed has refused to identify the recipients of almost $US 2 TRILLION of emergency loans and what the Fed has accepted as collateral!
Bloomberg has sued the Fed under the US Freedom of Information Act, trying to get this information, but the issue is stuck in Federal Court. Somebody out there got this $US 2 TRILLION from the Fed but they are not talking. The Fed, in turn, got some financial paper as collateral, but it won’t say what it is. "

...

"The great deflation has hit the ground economically in a real and direct way. This can be seen from the data on steel and iron ore already given.
When the largest steel maker in the world announces cuts in production of 35 percent in the US and 30 percent in Europe, it does so for a reason. The reason is that it expects total output in the US and Europe to contract by 35 and 30 percent by around June-July 2009. Any fall in total output of 30-35 percent is
great DEPRESSION economic territory. What it shows is that by June-July 2009, about one third of US and European goods producing factories will be standing still."

...

"This comes courtesy of a CNN report which informed Americans about what the sum of all the numerous US bailout packages amounted to so far. The sum so far, according to CNN, is $US 4.28 TRILLION. "

...

"The situation for US job seekers is even worse when discouraged workers (not counted in the statistics) are factored in. That takes REAL unemployment to 11.8 percent, up from 11 percent in September. "

...

"The US global trade deficit in goods remained at a staggering $US 71 Billion for September. A good case can be made that the rest of the world is holding the US economy up with an inflow of goods of close to $US 850 Billion a year while at the same time funding the US current account deficit which also comes close to $US 850 Billion a year."

...

"Any way one looks at it, the fiscal situation of the US federal government is absurd. Nonetheless, this is the REAL situation they face. In fact, it is now so real that there is a climbing danger to the international credit standing of the US. The spectre of US debt default raises its scaly head here. Based upon historic instances when the governments of other nations got themselves into a similar situation, the US Treasury should already have defaulted upon its present debts. That has not happened - yet - but from now on, it must be seen as a clear and present danger."

...

"Since the basic principle in a deflation is that in order to clear the markets, prices have to be lowered, it follows that this applies to governments - which
are NOT exempt from economic law. Therefore, the cost of governments (i.e. taxes) also have to be lowered. If taxes are not lowered in a deflation, they always increase in REAL terms."

....

"But looming above all else is the lack of SOUND money. The tragedy of our modern world is that it has been pushed in stages from the sound money which was the Classical Gold Standard into a credit money system in which only loans from government licensed lenders function as “money”. The quantity of credit money is a function of debts owed. When the debts are paid back, the money deflates.
A Gold (or silver) coin cannot be deflated unless it is physically lost. Nor can it be inflated in quantity without the discovery of new deposits. It is NOBODY’S “liability”. That is why it is sound money."

???

Now that we have had read all this good news, I ask:and a simple question At what price (fiat) would YOU sell an ounce of your Au or Ag?