Just listened to Bernakes speach to congress about the 700B bailout.

Long n short is that they haven't gave him anything yet, but looks like they will start with 200B or so as part 1 of the 1 - 2 punch.

If they go ahead with this, US debt will reach 11Trillion, nearly 40K of debt for every man, woman and child in the US.

My Long and short term opinion is that everything is screaming for the gold hedge. Anyone else listen to that broadcast?

They made alot of comparisons to the 30's when they took simialar actions...congress is very gunshy about the proposal of price fixing and said it prolonged the depression in the 30's...Looks like a bleak future for the markets, gold not included as it is the haven.

I'd Love to hear comments.

my two cents

sw