Let's get the game started with Senator Bob Corker (R-TN) - Interviewed on CNBS this morning - "We are throwing our country's future down the tubes. This bill is terrible." And, "It has more trickery, lower level, more sinister, than even what happened in the House. $189 billion in the hole." And "We're doing exactly the wrong thing and sending the wrong signals to our partners around the world that are funding our debt." And, "This is all about doing something for the President." And "We look at this as one oif the most backwards stepping thing for our country that we have seen in decades and will hurt out country for generations." Class act, ponzi scheme and new entitlement are other words that popped out of his mouth describing this bill. Please listen and heed his words.This is a classic. I love Corker.
Zero Hedge - Post-Lehman Deja Vu As T-Bill Yields Turn Negative - "The last time Bill yields turned negative (in essence investors paying the Government to hold their money for them) was in the days after the Lehman bankruptcy, when the entire world was about to blow up. So why did Bill yield for January maturity just turn negative once again?" For those of you looking for a top, this may be a clue. LOL, NEGATIVE T-Bill rates for goodness sakes.
Mish -Economists Opposing Fed Audit Are On Fed Payroll - This is a classic. We explored this earlier this year when we discovered that all of the economists are on the Fed's payroll as there really is no need for an economist sice they never get anything right. "That list of economists is anything but unbiased. The conflict of interest is clear, loud, and undeniable." Audit The Fed Needs Your Help ... Again! I could not agree more!
The Market Ticker - Since we are on the subject of auditing the Fed has- Oh Oh - Here Comes Cummings (Fed Audit) - "They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC AUDIT." I'm telling ya now, call your reps now while we have a chance to dave our country. this is the first step in getting our democracy back.
Zero Hedge - Dylan Ratigan Discusses The "Audit The Fed" Support Letter - since we appear to be hammering the subject home right now.
naked capitalism - Via Edward Harrison of Credit Writedowns -Marc Faber: “I don’t think that you’ll see gold below $1,000 per ounce probably ever” - Not sure I agree with the "ever" part of this, but I would agree it will be a long time before any meaningful fall. I went and got the vids from youtube for you. This is 1 of 2.
The Pragmatic Capitalist - CONGRESSMAN BRADY ASKS GEITHNER TO STEP DOWN - If you missed it this morning. Timaaay got grilled again. You gotta love it, but that smug ass punk just threw it back. I got the vid again. You should like this one.
And in a really sad note - UGA VII dies "Uga VII, the University of Georgia football mascot, died unexpectedly Thursday morning in Savannah." at least he got one last good whipping of Auburn before he went. RIP you good Dawg. RIP.
Have a great evening and GL trading.