Dear CIGAs,

1. The change is not abrupt. It has been cooking for years.

2. Yesterday the change was set in cement as completed.

3. GM is only the first.

4. From now on rather than public corporate management looking to stockholders, their vision will be towards Washington from whom they will take their clues to act.

5. Finance, having taken over government, now has taken over public industry.

6. It does not matter how you define this in terms of ism.

7. The American Dream is dead.

8. The US dollar is dead.

9. Gold is your only lifeline because investments are over (see Monty’s comments on volatility). I means lifeline in its most literal interpretation.

Note:

Having lived in India for a significant time, I am used to seeing pictures of living people with air brushed or light induced figures of halos over or beside their heads in their public pictures. Please see the front page IBD photo of the US President today.