Independent News and Politics

If you’ve got a bunch of money in the stock market, the rise in the Dow Jones Industrial Average might actually be good news for you.

For the rest of us, the technical movements behind this recent surge paint a much bleaker picture of what’s going on.

The primary mechanism driving equity prices at the moment is the continued fall of the dollar.  At this time, gold is testing prices near $1100 per ounce and oil is back up over $80 a barrel for the first time since the great crash first undid runaway inflation.

For workers, anything short of a huge payraise is actually turning out to be a pay cut.  As the cost of living continues to ramp up, people continue to lose jobs and the government continues to run up our debt.

In a few months, as the incentives and stimulus spending is exhausted, we will also face a new round of mortgage crisis as option-ARMs mature and commercial real estate continues in its downward spiral.

Hold on tight, this economic ride isn’t over yet.

The Federal Reserve has long been suspected of directly manipulating gold prices, but they’ve been able to deny this activity due to the secrecy that surrounds all of their monetary policies.

In response to the looming threat of a Congressional audit of the central bank, the Fed is now fessing up to some manipulations in the gold market.

Will the unlikely alliance of Ron Paul and Barney Frank deliver the votes needed to reveal what “our” bank is really up to behind the scenes?

Stay tuned, more news on the Federal Reserve audit is on the way.