Currencies bounce back…  Commodities and Commodity Currencies get hit hard!  China’s recovery a myth? Devaluation in the dollar’s future? And Now… Today’s Pfennig!

The Swiss central bank just cut back interest rates for the franc. World currencies are in a race to the bottom. Only the U.S. dollar seems suiidally determined to remain high…

History tells us that gold is the “ultimate antidote to fiat money” says John Pugsley. He says gold’s dollar price relative to other goods is now higher than the long-term trend. But no one really knows how much the buck has been inflated in recent years. And as price inflation returns “with a vengeance”, the gold bull run should resume.

In 2004, then Treasury Secretary John Snow was traipsing about the globe trying to “talk the dollar down.” Why? In a word: debt. At the time, our debt stood at $7 trillion, with interest payments in fiscal 2003 totaling $318 billion. But now the U.S. national debt stands above $9 trillion, with interest payments in fiscal 2007 adding $1.4 billion a day.

“Ever wondered why your family budgets never seem to work out as planned?” asked Harry Browne in his 1970 bestseller How You Can Profit from the Coming Devaluation.

In 2004, then Treasury Secretary John Snow was traipsing about the globe trying to “talk the dollar down.” Why? In a word: debt.

Learning to truly enjoy bear markets – to lust for them – is not easy.

Now that he’s wearing some sort of do-good government hat, even Hank Paulson is not thinking straight. Regulate in New York and finance goes to Toronto. Regulate in London, it goes to Frankfurt or Paris – and since Toronto, Frankfurt and Paris are run by the same nervous bureaucrat-types, we can reckon soon enough that the entire financial markets will be hosted out of Singapore and Shanghai.