Although the Fed is private it is still an instrument enacted by the US Government in the first place. It was set up privately so as to be independent in the legal sense.
I have formed the view over many years that the Fed could not care less about the interests of the people of for that matter the Government. For a good idea you only have to read Edgar J Hoover, the top cop who controlled six presidents. The US system and culture is alien to and within itself to outsiders. With guns and their manufacture they have never stopped being the shoot out cowboys of their early days.
The US will default and the bs they sprout when talking of a strong dollar is just that. The US monetary system will implode. When? dunno but soon and no later than end of 2013 in my view. However things can change fast and have picked up the vibe that monetary problems in Europe are being componded by cash withdrawals. It would not take much for a run on the banks and then a long bank holiday. The overall possibilities are rather scary in my view.
Worth having a read of Nadler on Kitko today, and as he is putting it down you can be sure he and his family will be accumulating on all the dips that they can create. And that is my real point, the Benanke's and his ilk, their families will all be buying physical at every opportunity. The paper market is more than likely their creation to achieve just that. For those not familiar the history of the Rothschild's is good foundation material. Currently worth 300 trillion and you can bet a bit of physical in that corner.
No one can tell me that the traders, short, long and with their giant computers are really in the know. They are the mere servants of the big guys and are the ones who will suffer the huge paper losses to come.
Now this is just a wild Saturdy rant cause I am passionate about the subject and pleased I have physical silver and have had too many stubbies this afternoon.
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