Week in Review

Ron Paul On Money, Inflation and Government

“First, money is not wealth, in and of itself. You cannot create more wealth simply by creating more money. Wall Street bankers cry out for more liquidity, but what is really needed is more value behind the dollar. But the value, unfortunately, isn’t there.”

A Truly Remarkable Day

“First, Ben Bernanke appeared in the U.S. Senate, with former Fed governor Paul Volcker by his side, and announced an incredible turnaround in Fed policy. Yes, he said, he and his fellow Fed governors were very concerned about weakness in the financial sector. And yes, they were very sympathetic to all those people who had high mortgage payments to make and all those people who had bought shares in Bear Stearns and other high-flying investment firms. But he went on to say that the Fed’s primary mission was not to protect people from the consequences of their own mistakes; it was to protect the nation’s money and its credit.”

North Korea warns of pre-emptive nuclear strike against neighbor

“Our military will not sit idle until warmongers launch a pre-emptive strike,” the official news agency in Pyongyang reported a senior military commander as saing, “everything will be in ashes, not just a sea of fire, if our advanced pre-emptive strike once begins.”

The Other Civil War

“Despite the ongoing decline in quality of American education, most Americans are fortunately still aware that a civil war transpired in the United States between 1861 and 1865. What is unfortunately less widely recognized is the fact that another civil war has been going on in this country for roughly the last forty years. I’m talking, of course, about the War on Drugs. For some, the “drug war” is seen as a metaphor or a symbolic war as opposed to a “real” war. I disagree. The War on Drugs involves people with guns, it involves killing and it involves taking prisoners.”

DOW Jones $12,609.42
NASDAQ $2,370.98
S&P 500 $1,370.40
Gold/oz $913.50
Silver/oz $17.76
Copper/lb $3.99
Oil/bbl $106.23
Wheat/bu $991.50
Corn/bu $598.00
Dollar/Euro 1.5742
Yuan/Dollar 7.015
Ruppie/Dollar 39.855
Yen/Dollar 101.505

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