"There are no words to express the magnitude of what is brewing on the horizon. As each story unfolds, the mind is provoked to extrapolate the losses to infinity. This is what massive leverage and derivatives of derivatives can do to a thoughtful person's psyche. So if you are laboring under the delusion that the FED has any fix, quick or otherwise, in the form of 25 or 100 or even 525 bps of rate slashing, kindly disabuse yourself of that grandiose, naïve, delusional, horribly-misguided thought immediately. There is not a central bank on the face of the earth that can undo this debacle by flooding the system with more cheap money, but Gold is sure hopin' that they'll give it a try, eh? Meanwhile, we'll let this read: There is not a legion of central banks on the face of the earth, etc. And even if there were, the outcome would still be the same, i.e., there is no turning back now. Let the repricing continue..." Joan McCullough 8/1/07