Interest Rates Continue to Rise - GM files bankruptcy June 2 2009

Marc's Notes:
GM filed bankruptcy today and the market loved it. Go figure.

It will cost taxpayers 40 billion or so to do the filing and YOU and I will pay. Oh well, more money down the rat hole. You are watching your beloved country spiral into socialism. Most of the bailout monies to go the bankers, the unions, the CEO's and overseas investors.
Read the GM notes on its plans. To shutter factories here in the US and move more to Mexico for gosh sakes. Does'nt anyone give a rats behind? Our money used to employ foreigners while Americans lose jobs? What are they thinking?

Expect more bailout money to be thrown everywhere but at you and you can also expect ANOTHER housing bailout in the summer as the current ones won't be enough.

Interest rates worldwide on US Government debt is rising despite their attempts to lower them. The bond markets rule the world and are having their way. They will not be denied. 

Expect more US Government purchases of their own debt in an attempt to drive rates lower, but the more debt they buy (called monetizing) the more the bond traders will raise rates to cover their rears for the inflation which follows all this printed money. Oh the irony of it all.

Gold and silver took a rest today but oil continued up. As investors perceive a recovery (which by the way won't happen) they sell treasuries, causing interest rates to spike, and oil and other commodities to rise in price. 

Hold all positions- Our Obama plays are now in the black and we will wait until we get a few hundred DOW points more to take profits. Ditto with our DXO   and/or   USO  oil trades. They are up big time but me thinks more money is to be made. HOLD but do not add at this time.

Our dividend payers are rising nicely - HOLD and OK to ADD some.

Always add physical gold and silver- see our reference on where to buy below if you need a place to get some or email me.

Tune in tomorrow at noon  PST  89.5 FM or worldwide on the web at www.kvmr.org to hear my interview with (RET.) US COMPTROLLER Mr. David Walker. DONT MISS THIS SHOW!

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All for now. I am waiting for my free bailout money from the FEDS but like you, I ain't holding my breath. ( can you beleive this stuff?)

All the best and I look forward to tomorrows show!

marc