$3,500 Gold

I already live in these hills, so please do not head for them.

Currently gold is selling in the low $900s per oz., up from $250 or so earlier in the decade. A recent tidbit of news suggest that the price of the precious metal will skyrocket. As part of the Bush administration's tragic, socialist tap dance, which the New York Times reports may include partial nationalization of banking, the Federal Reserve Bank announces yet another sharp increase in the monetary base. Howard S. Katz just e-mailed me that there has been a 68% increase in the monetary base over the past few weeks.

The inflation of this cycle may turn out to be much worse than that of the late 1970s. The inefficiencies in the economy are greater and there has been a much longer period of withdrawal of commodity production in response to low prices in the 1980s and 1990s. Howard calls this the "commodity pendulum".

Gold has already demonstrated an ability to anticipate inflation. The problem is exacerbated by the Fed's decision to encourage foreign central banks to monetize American debt. The global liquidity excesses of a few years ago are transforming into an inflation stoked by the banking system's addiction to easy money. The shortages will get worse as the old, new and future liquidity slosh through the system over the next few years, bidding up prices.

I'd say head for the hills, but I already live there and I want to keep the traffic down.

Robert P. McCulloch Denies St. Louis Truth Squads

I just received the following denial from Robert P. McCulloch. I had previously written to him about accusations that he was threatening to arrest critics of Barack Obama:

>A recent report on KMOV-TV completely distorted what I and others said about potential campaign ads. We simply said that if the ads were false we would say so. Period. The statement was immediately morphed into something sinister starting with the KMOV lead in to the story and continuing through various blogs and radio talk shows.
As a result, many people were left with the mistaken idea that I threatened to take action against those who criticize Obama. To clear the record, let me state unequivocally:

RUSSELL KINSAUL (KMOV-TV) lead in- "The Obama campaign is asking Missouri law enforcement to target anyone who lies or runs a misleading TV ad." THIS STATEMENT IS ABSOLUTELY FALSE.

DRUDGE and LIMBAUGH (by way of something called Gateway Pundit) – "[McCulloch and Joyce] are threatening to bring criminal libel charges against anyone who levels what turns out to be false criticisms of their chosen candidate for President." THIS STATEMENT IS ABSOLUTELY FALSE (never mind that there is no such animal as criminal libel)

GOV. MATT BLUNT – "What Obama and his helpers are doing is . . . abusing the justice system and offices of public trust to silence political criticism with threats of prosecution and criminal punishment." THIS STATEMENT IS ABSOLUTELY FALSE.

Various local talk radio hosts continued to spread the above falsehoods without bothering to check the facts or even ask me for clarification.

Neither I nor any other person made any of the above statements. Nor did I or any other person say anything from which a responsible journalist could infer or surmise that we said or even intended the above. The mere fact that my statement of

". . . if they’re not going to tell the truth then somebody’s got to step up and say wait a minute that’s not true. . ."

becomes:

". . . threaten[ed] to bring criminal libel charges…"

clearly demonstrates the need for someone to step up and call out those who intentionally distort or ignore the truth.

For 25 years as an Assistant Prosecuting Attorney and the Prosecuting Attorney, I have worked diligently to protect the freedoms of all people in our community. I have always done my very best to earn and retain the trust of the people of St. Louis County and the metropolitan area I serve. I HAVE NEVER BEEN, NOR WILL I EVER BE, AFRAID OR HESITANT TO STAND UP AND SPEAK OUT ON ISSUES IMPORTANT TO THE PEOPLE OF MY COMMUNITY.

What the radio talk show hosts and their cohorts, Matt Blunt, Matt Drudge and Rush Limbaugh, et al, must realize is that they are not the only people in this Country who enjoy the freedoms and rights of the 1st Amendment. The Rights apply to all people-including me.


Robert P. McCulloch

Prosecuting Attorney

St. Louis County, MO

Lawless in Chicago: Obama Breaking more Laws

Newsmax's Ken Timmerman reports that the Obama campaign has broken the law more than 2,000 times by allowing individuals to contribute above the $2,300 limit.

Timmerman points out that:

"On Aug. 31, for example, the Obama campaign filed a report listing a single donation from a Debra Myers in “Rancho Palos Verde, Calif.,” for $28,500 – more than 10 times the amount the law allows per election. Although Debra Myers is identified as a physician, only two individuals with that last name have a listed phone number in Rancho Palos Verdes (the city’s name actually does have an “s” at the end). Neither is a Debra or a “D” Myers, or a physician...

"...hundreds of other individual donors have given to the Obama campaign far in excess of the legal limit, a Newsmax analysis of campaign finance records shows.

Read the endless list of specifics of the Obama campaign's law breaking here .

Obama was understating when he said "change you can believe in". His lawless supporters believe in tens of thousands of dollars, not just "change".

Nancy Razik Effects Change

Nancy Razik is one of the "One Million Moms". She just forwarded this e-mail about their successful campaign to eliminate pornography from American Airlines.

>October 8, 2008

American Airlines says your action influenced change
Dear Nancy,
Earlier this week, we asked you to contact American Airlines and encourage them to take measures to filter pornography from their in-flight Internet service.

Within hours, American put out this press release:
Based on the feedback of our customers and employees, American Airlines is working with Aircell to implement technology to filter pornographic content over the Gogo inflight Internet service.
Because of the overwhelming number of emails sent to American Airlines, it has taxed their system. Therefore, we have thanked them on your behalf. However, if you still wish to contact them, please use their online form.


Thank you for taking time to contact American Airlines. You are making a difference!
Sincerely,
Donald E. Wildmon, Chairman
OneMillionMoms.com
P.S. Please forward this to your family and friends!


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