US$ took one heck of a smack down in yesterday’s trade falling as much as 80 points with a continuance happening the day Bernanke speaks to Congress, US$ trade is down another 20 points this morning at 82.179 after going as low as 80.100, Treasuries are all being supported by the overseas bankster class with the 30 year flat but Notes/Eurodollars higher. Energy Sector is slowly climbing with Crude Oil trading at $85.95 up 94 cents guiding the rest of the sector into the same direction. Gold is down $9.90 with the trade at $1,623.10 after being hit down to $1,613.60, Silver is holding better with the trade down only 4.3 cents at $29.450 after its low of $29.155 was hit, Base metals are following Silver’s range and are slightly flat in trade. All Grains/Softs/Meats are trading higher against the dollar’s fall, Paper markets are all recovering as we expect when Ben Bernanke steps up to the microphone in front of Congress today to tell us how wonderful the banking system is and how they have to print more money to bail out Europe because of the systemic risk overvalued/overprinted debt instruments have created. The lack of responsibility is amazing, the only way out of this situation is to continue to print more money which in turn guarantees hyper inflation when one uses that currency for non-CPI products …. Like Food/Clothing/Energy ….. We expect a continuance of printed US$ currency therefore we will continue to expect much higher prices within the Earth extracted commodities till the newer currency with a limited amount of print is backed by some ratio of Gold attached to it, like the ones that the BRICS nations are designing right now. China has a 5,000 year history in paper currency (fiat), we’ll have no choice but to follow their lead. But first, we’ll be forced to follow the printers lead into hyper-inflation. IMHO, the only way to protect ones purchasing power is to hold the physical metals (outside the system) and have a few positions in commodities for liquidity purposes till things go right …. Stay Strong!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….