My feelings exactly John. When I look at all the reports from the US and see that banks are hording cash, this says alot. This I believe is why stock markets including NOT have taken such a beating. To survive and stay within FDIC regulations, these banks HAVE to maintain a percentage of cash on hand. Well cash is getting scarce around the US, even with the FED printing like crazy and injecting like crazy. When you hear those massive numbers injected into wall street and that these banks are still hording cash and refusing loans, that tells me how bad thing are. These banks were selling as much stocks/assets as they could, probably some of them were naked shorting as well to put cash in their pockets. This has resulted in the ridiculous valuations we have seen in so many companies. As the US situation starts to be understood more, it may take only 1 or 2 central banks to panic and sell off dollars for gold or other tangible assets (silver, other commodities) to start a run on the US dollar. Today was the biggest one day run on the US dollar vs the EURO...this is just the beginning I am afraid. No body wants to see the world's biggest consumer stop consuming and they will try to support the US but when it becomes obvious that the US economy and dollar are tanking, these countries will think of themselves first and make a stampede for the door.

Maybe I am being too bearish towards US but that is how I see it as of now. I do agree with John again that the world will not end though. Other economies will pick up the slack and growth, slower growth will still happen and that is why the ROF will be a great asset to its shareholders.

Cheers,

Glorieux