a dose of the runs

So 'our' government has bailed out private company Northern Rock, and in the US the Fed cuts the interest by 1/2%. And the markets are all cheered up again.

The magic of digital 'money' comes to the rescue again, interfering in the market and just storing up bigger problems for the future.

The greedy sheep queueing outside provincial banks can go back to sudoku and consumption, in the US all the thicko christian tossers in Wall Street can start dreaming of big bonuses again, and M3, the measure of money that's the most important yet is no longer quoted by the US government, can keep on growing exponentially, or perhaps inflating is a better word.

But there's a little clue that despite all this fluff a few shrewder and less communistic investors are on the ball. Silver is going up up up. And gold. The sensible money is getting out of paper and property and into precious metals. Let's hope we remain contrarian for a bit longer, and get still get gold and silver at reasonable prices, because the real crash is now even more likely to happen. This is what happens when lefties run governments on both sides of the Atlantic, and think they know better than the markets.

In the long run the market is ALWAYS right. Just watch ...