700Bail outRules for the fed bail out of 125B to banks. You got to love it. Feds idea of controlling the rediculous amounts of money bank directors and financials managers get is going to be monitored by themselves. This is so far beyond stupid I cannot believe it. Half these a$$holes should be fired rather than given a bonus. I moved money away from all funds a couple years ago, not because of a financial crisis but because I couldn't stand the obscene amounts of money the bank CEO's and fund managers were paying themselves. I was seeing a 6-8% return on an investment that should have returned 12-14%. It was and still is insane. Some mining companies are not much better. These turkeys are not worth half what they get paid in most cases. I still think that if they want to lay claim to these big pay packages they should also share is the losses and pay it back when they screw up. 70% of their bonus package should be held in escrow for 10 years. on the 11th year they can then receive what ever amount that is supported by the 10 year average gain of the fund or related investment. Could be 0 - 100%. Its to easy for accountants to get creative when they run their bonus on an annual basis.
i guess until the general investor - joe public starts taking action against these crooks nothing will happen as it appears our government representatives are being to well rewarded to give a $hit.
Gold just keeps looking better. I know its being manipulated like crazy but we have to hope that sooner or later this is going to come to and end. Maybe Nov. 10th. It remains the only real money in the world so sooner or later has to take its rightful place. I have faith in the central banks of the countries involved with the bail outs fighting amongst themselves before long. Who knows some of them may already be sneeking into gold knowing that no matter how much they put into the system the US debt is just to many trillions to deal with. It amazes me that the Chinese and Petro Nations are not moving more of their US$ to gold before it become half the value it is now. Hell, half may look good a year from now. I know they don't want to devalue the dollars as they are hoping this thing is going to settle down. Somehow the US owing over 11 trillion doesn't sound like something that will settle down.
Since gold hit 1034 in March nothing has improved.
YRI will remain one of my backstops and right now its as close as you can get to stealing legally.