Archive for May 2011
Walt reports on Cong. Ron Paul of Texas announcing that he plans to push for an audit of the nation's gold supply. Also, Jake reports on probably misleading signals from the Fed that they're not going to continue with Quantitative Easing III, and Gene talks about the likelihood that Wall Street assets are overvalued according to guru Jim Grant.
Jake and Walt talked about President Obama's address to the State Dept. about the "Arab Spring" and noted that the country of Zimbabwe, which has had a history of massive inflation in its past, is now looking at the possibility of returning to a gold standard with their national currency. While a dramatic turnaround, this does make sense, particularly given the huge gold reserves that reside within Zimbabwe's borders.
The IMF announces that core eurozone countries are in danger of debt defaults. Also, Exxon blames high oil prices on "speculators". Walt, Jake, and Gene separate the wheat from the chaff.
The big news this week is the capture of Osama Bin Laden. While we're glad he is gone, Walt, Jake, and Gene raise disturbing questions about HOW he was killed and the way the detail of the story of the operation keep changing. The guys also discuss what this will mean for U.S. involvement in Afghanistan going forward.