If Europe ever does get its act together we could see crude move to $120 to $130 a barrel. That would mean $5 a gallon gasoline at the pump. This is going to be a massive tax on consumers for which the government gets no benefit.

Not sure I understand the meaning of this. Over 50% of what we pay at the pump goes directly in the Gov.'s coffers.

I recall a year ago tonight, ECU was at $1.20 ($24 in AUM dollars) Gold was about at $1,400 and we were all exicted!!!!!

Sooner or later, things will have to change. Who knows maybe it will be 2012.

A special thanks to GWR, for his excellent leadership and accurate postings. We are fortunate to have such a hard working president.

A good New Year to all, health and happiness.

Later