Louis Scatigna, Author of The Financial Physician

The government and BP have been covering up the devastating effects of the oil spill. Listen to this poor man’s story of illness and economic desperation.-Lou

I would not eat any fish or shellfish from the Gulf, would you?

A bold, but true, statement indeed.-Lou

US Is ‘Practically Owned’ by China: Analyst

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.

Gold [XAU=X 1313.3 4.50 (+0.34%) ] hit a new record high Monday and silver [XAG=X 22.02 0.15 (+0.69%) ] rose to another 30-year peak as investors were worried about the dollar weakening further after the Federal Reserve hinted at more quantitative easing last week.

Never has the U.S. Government been so dysfunctional as it is today. The President’s approval rating has plummeted from over 70% after the election to around 40% today due to his radical socialistic agenda. Congress’s popularity makes the president look like a rock star, with their approval rating around 15%. The Congress could not even take care of it’s basic responsibility, passing a budget for the fiscal year starting tomorrow. Fearing total defeat in November, the Democrats avoided legislation or debate on any controversial matters including extending tax cuts. Businesses and individuals move into the fourth quarter uncertain about tax policy, making it difficult to plan ahead. What a disgrace.-Lou

Coming to an ATM near you: Gold!! Can you feel it starting to build? There is no fever like gold fever and it’s starting to spread across the globe. Gold is now a record high of $1,309 an ounce and silver is trading at 30 year highs. Please protect yourself if you have not done so already and add some precious metals to your life.-Lou

‘Gold-to-Go’ taps into gold fever with ATMs

BERLIN — A German firm that installs and manages gold vending machines aims to introduce them into the United States this year as it expands rapidly to take advantage of demand for bullion in times of economic uncertainty.

I have been saying for over a year now that states and cities finances are deteriorating at an alarming rate and defaults and drastic cutbacks are coming. I would avoid most municipal bonds like the plague.-Lou

States Are Poised to Be Next Credit Crisis for US: Whitney

Crippling debts and deficits are about to make individual states the next casualty of the credit crisis, analyst Meredith Whitney told CNBC.

Speaking as her firm, Meredith Whitney Advisory Group, just released a lengthy report on the state of the states, the noted financial analyst compared the looming explosion to the collapse of the financial system in 2008 and 2009.

John Paulson is a smart man who made billions shorting sub-prime mortgage debt. He runs a large hedge fund as you can tell by his speech he is very bullish on tangible assets, including housing.-Lou

John Paulson’s Scary Speech: Double Digit Inflation By 2012, Gold At $4,000

John Paulson scared the pants off of a packed audience at New York’s University Club recently as he warned them of huge changes in the economic environment in the years to come.

Forbes’ Bob Lenzer reports Paulson’s saying:

“If you don’t own a home buy one.”

It seems that the markets are  being levitated until the election for the obvious reasons. Let’s see if Marc Faber is correct about October.-Lou

Marc Faber: The Fed Is Creating Dangerous Bubbles Around The World, And Stocks Will Tank In October

The original merchant of doom Marc Faber has a good, wide-ranging interview with the Economic Times of India.

For US investors, he argues that bullishness has come on too fast, and that the pain we haven’t felt in September has merely been delayed until October and November.

I agree with the basic premises of this article.-Lou

5 Reasons to IGNORE Collection Agencies, The Henchmen of the Banking Mafia

John Galt
Activist Post

I wrote an article a while back titled 5 Reasons NOT to Pay Your Credit Cards. Understandably, many e-mails came in asking, “But what happens if I don’t pay?”

Just as the Mafia has their collections department, so do the banks. A Mafia enforcer might employ a pipe to the knee, threats to your family, or other nefarious means of collecting debts for the boss. Much the same, collections agencies use guilt, the credit rating system, threats of legal action, and many tools of harassment and deceit from their bag of tricks.

Gold yesterday hit a record $1,300 an ounce before the usual suspects pounded it down to prevent a close below the psychological important level. Here is a great article by Greg Hunter on why gold may go much higher.-Lou

Is Gold In A Bubble?

By Greg Hunter

USAWatchdog.com

It would be nice if not only were there no more tax forms, but no more taxes.-Lou

IRS won’t be mailing tax forms next year

WASHINGTON – Don’t look for tax forms and instructions in your mailbox next year. The Internal Revenue Service has decided to stop mailing them because so many people now file electronically.

The Washington Post reports on its website Monday that the IRS expects to save about $10 million a year by eliminating mailing.

More than 96 million people filed their returns through the IRS online service last year, and about 20 million filed paper returns through paid tax preparers.