Got any chapstick?

[shinnosuke]

You know what really chaps my backside? For years...well, I'm old, so for years and years, people around me have pointed to Europe as this Utopian society where everything is so well-regulated and the health care is cheaper than dirt and how America should follow that good example, and we would if only the Constitutionalists would shut up and get out of the way, or not the Constitutionalists any more, the Birchers, yes it's the Birchers who need to have their mouth stuffed with a rag, well, wait, most youngsters don't know anything about the short, heroic life of John Birch, and so mission accomplished, but it's not so much the Birchers these days, it's the evil, nasty, racist Tea Party who are preventing us from just merrily enjoying life like the Europeans. And what gives the Europeans all the great goodies provided by their benevolent masters? Why higher taxes, of course, but, you know, it's for the common good. You stingy Americans can pay a bit more, especially if you have been ripping off your fellow Americans and somehow make over $250,000. Just the sound of that number is malicious. Let it drip off your tongue. Two hundred and fifty thousand!!! How dare you make that much. So, yes, taxes, that's the ticket. Raise 'em and we're in paradise. Well, taxes may not cover everything so we may need to print an itsy-bitsy little tiny bit more money on the printing presses down there at the central bank, but I'm sure nobody will notice and life will be so grand. Backing, you say? Well, what do you mean backing? Backed with gold? Preposterous! Gold is a barbarous relic.

So the savants of the western world have printed enough paper to fill the Pacific Ocean, with no concern about gold backing it up for years and years and years. Until now. What's this rumbling I hear? The lazy Greeks? The no-good cowardous sex-crazed Italians? (Psst, wanna buy an Italian WWII military rifle? Only dropped once, my friend.) Now it seems that if we are going to loan the worthless Club Med Sourthern European countries any more money, we'll just tag on one little condition. Please put up your sovereign gold as collateral. There we said it.

After studiously ignoring that gold is money, despite what The Bernank says, now all of Utopia is doing a 180. Well, bless their pointy little heads.

http://www.zerohedge.com/news/ecb-doesn%E2%80%99t-rule-out-%E2%80%9Cpiigs%E2%80%9D-gold-collateral-gold-backed-eurobonds-sends-gold-soaring

In case you were wondering why gold's up this morning...

[shinnosuke]

And Ron Paul is 100% vindicated, as are all the Austrian economists, but all the media and even most "conservative" talk show hosts can say is that he is extremist, or that he has good ideas but will never get elected.

[Oakair]

In case you were wondering why gold's up this morning...

Don't forget that great jobs report

[Verbane]

After studiously ignoring that gold is money, despite what The Bernank says, now all of Utopia is doing a 180. Well, bless their pointy little heads.

Their heads are pointy so they can dig into the sand better