MAYBE WE COULD RUN THE WORLD ON HOT AIR?

An interesting perspective on fuel (and other) price rises...

"The system and its apologists are desperate to keep this obvious truth hidden from the public, or at least to keep the public confused about it. For example, last week, U.S. Treasury Secretary Henry Paulson said that 'a weaker dollar cannot be blamed for soaring oil prices.' This is on par with saying that 'heavy rain cannot be blamed for flooding in the Midwest.'

Proof – and this is where that pesky 'reality' thing really gets in the way of a good lie – is that gasoline prices have hardly changed in terms of real money. A gallon of gasoline today costs about $4.10 in American fiat money, but can still be had for less than a quarter-ounce of silver. [Currently 18.37 per ounce and rising]. A silver quarter from 1964 or earlier contains nearly a quarter-ounce of silver, and, despite fluctuations in the price of the two commodities, will usually buy roughly a gallon of gas. This situation has changed little in decades."

--Glen Allport

AMERICA BARELY MEETS A MARGIN CALL

And this is just the first of hundreds - thousands - of moneyshifts, most of which the paying public will never even hear about until their shares in the US (i.e. the dollar) are worth pennies, before the freeprinting currency reaches its intrinsic value and surviving US banks are nationalized.

There is blood in the water, as the sharks begin to eat their own...

The transaction is all the more odd in that Bear Stearns' purchaser J.P. Morgan is the world's largest holder of derivatives!

Foreign investors are withdrawing their support of the currency...

For a view of where all this may be headed, see the Weimar experience...

BTW, the current derivative nominative total is over 500 TRILLION dollars...

And The Street on Welfare...

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