Louis Scatigna, Author of The Financial Physician

I have been talking about Fed and it’s debt monetization for a long time and here is the horrible truth. The Federal Reserve is printing dollars as fast as they can type on a keyboard and then buying most of the Federal debt being issued. The Fed recently admitted that they have bought European debt as well (what an outrage). Japan and China are now shunning our bond auctions and are net sellers of U.S. debt. Get ready for inflation like you have never seen before in your lifetime. Got Gold?-Lou

WSJ: Fed Buying 61 Percent of US Debt

Here is a chapater that was edited out of my book “The Financial Physician: How To Cure Your Money Problems and Boost Your Financial Health”.-Lou

What Wealth Really Is

THE AILMENT

When people build wealth, they can become myopic. As they acquire more money, their vision can narrow and they can lose sight of everything else, especially the bigger picture. They can become so involved in getting rich that all they think about is making money and it’s all they want to do.

Gun Sales and Gun Stoaks are Soaring

Americans have been buying guns at an incredible pace. Just last week Ruger, the fourth largest gun manufacturer announced that they sold one million guns between January 1 and February 29th and were forced to suspend new orders.

Ruger CEO Michael O. Fifer said that despite the company’s continuing efforts to increase production, the incoming order rate exceeds Ruger’s capacity to rapidly fulfill the orders. The temporary suspension is expected to last until the end of May. Read Article here.

Listen to this week’s “The Financial Physician” radio show on XM Talk 168 and wobm am 1160.-Lou

Listen Here

This exchange between a Congressman and Timothy Geithner will make you “uncomfortable”. The dollar’s future is dire indeed.-Lou

Tax preparation season is in full swing so I thought I would bring you the following article on why people get audited.-Lou

Why the IRS Picked You to Audit

So it took six months to determine that MF Global CEO and former Senator and Governor of New Jersey Jon Corzine authorized the theft of customer funds to pay JP Morgan. This is a crime of the highest order and he should go to jail but he won’t. You see if you are a person that reaches the heights of Governor, Senator and friend (and fundraiser) of the President than you are given a pass. The real culprit here is JP Morgan who rumor has it threatened Corzine with an early death if he did not make payment of money owed. MF Global could have declared bankruptcy two days earlier and left JP Morgan as an unsecured creditor but instead stole the money from customers leaving farmers and other commodities investors holding the bag. Welcme to finance in the 21st century.-Lou

The main reason many people fail financially is because they are irresponsible with money. Couple financial irresponsibility with financial illiteracy and you have a recipe for financial failure. The first chapter of The Financial Physician covers financial illiteracy in America, here is excerpt from Chapter 2: Financial Irresponsibility.-Lou

BEING FINANCIALLY IRRESPONSIBLE

THE AILMENT 

When we hear the term “financial irresponsibility,” we tend to think it means not paying our bills on time, buying stuff that we can’t afford and really don’t need and taking on too much debt. Yes, financial irresponsibility is that, but it also is much more. Let me give you an example: