Friday, October 10, 2008

will we nationalize our banks and end the fiat system?

the market does fear for that "chance" the current makeup of our legislature makes that possibility higher and while it should not be a complete state capture of the nation's banks, even partial ownership of them will rattle traders and investors as history has not provided any evidence that success has resulted. some even has suggested that the entire federal reserve should be abolished and our fiat monetary system has ran its course. i do not see the strength in the gold argument or the reversal of the banking system under state control. most investors share this view and the 18.5% drop in the market this week voiced it opposition. still, the fear and the possibility is there. paul

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