Coswil ....

If Uncle Ben is able to get banks out of this he will have his name written in gold letters in the history books. If he fails he will be castigated as the scape goat.{Greenspan should have the blame put on his shoulders}.

Your comment on Greenspan is interesting. You notice that for a number of months now that Greenspan has been very, very quiet. I guess his book tour is over. I think he knew what was coming, and is now happening.

Bernanke is in very difficult straits. I don't know the relationship between the Fed and the US Government (Senate or Congress) but I sense that the Government has some leverage in the positioning of monetary policy. If so, the greed and living off the backs of third world economies is now raising its ugly head.

Canada should not, however, smile smugly. Although it's reduced - and continues to reduce - debt, it is part of a world economy. And those countries who are pulling themselves out of third world economies should also beware. A "diamond studded" standard of living dreamed of by everyone comes with very dangerous implications and responsibilities.

Unfortunately, for the world's most prosperous democracy it is "the worst of times, and the really worst of times". Sorry Dickens. The world will survive, though, including the USA. However, everyone will be shaken and stirred.

A while back, I decided that commodities are the only play in town with regards to equities. Everything else had just too much downside risk. So I've placed most of my investments in junior miners, and specifically McFaulds. I think I have made the right decision.

Snug