4 April 2008 - 15:51Market Commentary 4/4/08

Well another day another worthless dollar. Today’s employment report was grim and was worse than expectations. The good news is that yesterday’s non manufacturing ISM was better than expected but again still the 50 reading which means and equal number of participants saw growth as saw decline. The dollar apparently received a big push this week from a hair brained scheme to have the Federal Reserve oversee all the financial and insurance regulators. This would be a complete disaster if it is implemented and shifts even more responsibility from our elected public servants to the network of private banks which have gotten us into this morass we currently find ourselves in. If we give these big banks even more power and literally make them above the law it will not be good for anyone. Except for the bankers and their shareholders of course. We need to be closing the Federal Reserve and making Congress coin money as they are mandated to by the Constitution. Not give more power to the institutions who have eroded the value of our money and as a consequence stolen the wealth of America over the last 100 years. However those morons who want to avoid a bloody nose today in favor of a decapitation tomorrow will probably get their way and instead of looking the problem straight in the eye today will defer. By allowing the people who have created the problem to expand it and make them above reproach as well in the process. The misplaced confidence in the Federal Reserve and the misconception that they are a federal agency like the SEC will likely be the downfall of America. This institution along with the criminal income tax hasbankrupted America and is bringing it to it’s knees now. So that the North American Union and eventual world government will be happily accepted by it’s citizens.