The dollar is up against most foreign currencies, the unemployment numbers (as "trustworthy" as they may be) are better, consumer prices are down, and a number of world leaders are talking about how the euro is getting ready to crater against the dollar. Yet as of this moment, gold is up about $15 from yesterday's close (which was up $15 from the day before).
Is the world finally waking up to the fact that the "highest and best use" of fiat currency is as kindling?
Maybe it has to do with the fact that the world has specifically lost confidence in the dollar. Talk like this isn't helping the boys in DC -
Russian President Dmitry Medvedev said Friday he has spoken with Chinese officials about boosting the role of emerging-market currencies and that the Chinese yuan, the Indian rupee and even the Russian ruble should partly replace the dollar among the world's reserves currencies.Sure looks like that super-secret, gotta-keep-it-under-wraps Federal Reserve Monetary Policy is working like a charm... The world quakes in fear at the mighty dollar.
Oh, wait, they're not quaking in fear... they're giggling...
Speaking of burning money...
But make no mistake: we will fight this spill with everything we've got for as long it takes. We will make BP pay for the damage their company has caused. And we will do whatever's necessary to help the Gulf Coast and its people recover from this tragedy.Really?
President Barack Obama, June 15, 2010
"The Coast Guard came and shut them down," Jindal said. "You got men on the barges in the oil, and they have been told by the Coast Guard, 'Cease and desist. Stop sucking up that oil.'"The real kicker is that they were already using these barges, and they were working.
A Coast Guard representative told ABC News today that it shares the same goal as the governor.
"We are all in this together. The enemy is the oil," said Coast Guard Lt. Cmdr. Dan Lauer.
But the Coast Guard ordered the stoppage because of reasons that Jindal found frustrating. The Coast Guard needed to confirm that there were fire extinguishers and life vests on board, and then it had trouble contacting the people who built the barges.
ABC News, July 17, 2010
Sixteen barges sat stationary today, although they were sucking up thousands of gallons of BP's oil as recently as Tuesday. Workers in hazmat suits and gas masks pumped the oil out of the Louisiana waters and into steel tanks. It was a homegrown idea that seemed to be effective at collecting the thick gunk."... as recently as Tuesday..." Hey, isn't that the exact same day when the president said he would do, "whatever's necessary"?
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