Currencies rally strong! China is upset with printing of dollars…The UN talks of a new currency…Unemployment rate rises to 9.7% And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! A long Holiday Weekend, that was quite good for yours truly! A great tailgate, a great Missouri Tigers victory, 3 of 4 for the Cardinals, a great end of summer bar-b-que at the Butler House, and a

Chinese business and social culture are generally very subdued and conservative… and above all, respectful. But students at Peking University in Beijing just couldn’t help themselves this week.U.S. Treasury Secretary, Timothy Geithner traveled to China, hat in hand, to allay the concerns of our biggest creditor about the soaring budget deficit and Washington’s loose monetary policy. And by loose, I mean that we are rapidly printing the dollar into worthlessness.

In a speech before the student body, Lil’ Timmy told those gathered that Chinese dollar holdings and investments in U.S. debt were safe and that the U.S. Treasury and Federal Reserve are committed to a strong dollar policy.

Ha! That’s a good one. And the Chinese students let him know it, with a collective belly laugh. I suspect some of them were actually rolling on the floor. And they weren’t laughing with him. They knew he was full of it. I expect

What’s the true cause of inflation? Jimmy Carter underrated? Really? And what makes Von Mises right after all these years? Read on to find out…Thank you (once again) for all your excellent responses on the Obama-Carter connection. When your thoughts and comments roll in, my only lament is a lack of space in which to reply.

Well, that and one other small quibble. Where are all the haters? Surely more of you must think I’m off my rocker, or otherwise dead wrong somehow. Let’s start off with a rare bit of snark just for sport…

The lessons learned from the past…8 years of taking us down…and now a dynamic leader trying to pull it together…and presenting a better picture of America to the world…now, can you or Rush Bimbo do that?

– TD reader NB

Rush who? I’m not up on the guy, as I haven’t paid attention to him since the early ’90s.

After gapping higher on the open over 350 points, the Dow Jones Industrial Average dramatically pared its gains, at one time up only 110 points. The Nasdaq, after opening up 40 points, or nearly 2%, retreated all the way back to negative territory.

The initial euphoria for equities seems to have given way to a more measured analysis of the implications of a federal government that shows no restraint from printing dollars. Many issues that opened higher sold off hard.

WM: Friday’s close: $4.27; today’s open: $5.10; intraday low: $3.51 ABK: Friday’s close: $8.52; today’s open: $10; intraday low: $8.56 UYG: Friday’s close: $21.93; today’s open: $25.00; intraday low: $22.00 URE: Friday’s close: $28.92; today’s open: $31.90; intraday low: $30.24 XHB: Friday’s close: $19.89; today’s open: $22.50; intraday low: $20.50 LEH: Friday’s close: $16.20; today’s open: $17.60; intraday low: $13.60

Trading in UAUA is halted after shares plunged 60%