On January 14th I posted Palm as a stock I’d love to short but couldn’t because I am investing through an IRA. It has dropped like a rock and met my target price of $9.00. I closed it from my Fanatafolio today at a price of $8.45.
Short Date: 1/15/2010
Short Price: $12.84
Close Date: 2/23/2010
Close Price: $8.45
Total Gain: 34%
The soon-to-be currency crisis will cause us to rethink money. The collapse of the U.S. dollar could be our chance to break the chains of our boom-bust cycle and implement sound monetary policy. The opposite is also true. We could replace one broken system with another.
Democratic representative Dennis Kucinich sponsors a bill called the American Monetary Act. On its face, the act would “strip the banks of their privileges and put the money power back into the hands of the people through their elected representatives; it would break the bankers’ secretive monopoly racket, which enables them to pay out billions in bonuses while ordinary people suffer” (mises.org). Looking deeper, the act may get us out of difficult times for the short run but is just another step down the path of big government, less freedom, and more economic toil. Read the article that takes a deeper look at the American Monetary Act at mises.org.
The coming collapse represents both great danger and great opportunity. We have a chance to fix fundamental flaws with the current system but we’ll have to stay alert to avoid supporting a new system that doesn’t work.
I just created a new page called ‘Links’. It holds one link right now. US Debt Clock which is a look into the finances of our country.
