I must first apologize to my readers for this report being so late this week as the JP Morgan debacle has garnered my full attention. Silver plummeted $-1.471 this past reporting period and gold drove $57.90 into the ground but do you know how they got there?

David Galland, Casey Research writes: For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses.

David Galland, Casey Research writes: For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses.

Although he drank Diet Coke rather than fine wines, preferred chocolate bars to ripe and smelly French cheeses and in front of the Pope was so squeaky cool, modern and arrogant that he checked for messages on his Blackberry (if he really knew how to use a Blackberry), French voters plucked up enough courage to evict the brash, egotistical and hyperactive President Bling-Bling, the so-called Hyper President from the Elysee Palace. After just one term in office this was courageous - the last time it happened was in 1981- but Sarkozy was out. He was finished along with his less-than-respected Italian supermodel spouse, so proud of having been a live-in sex toy of Mick Jagger (or possibly Keith Richards). Whatever her horizontal claims to fame, she was a lousy singer.

Although he drank Diet Coke rather than fine wines, preferred chocolate bars to ripe and smelly French cheeses and in front of the Pope was so squeaky cool, modern and arrogant that he checked for messages on his Blackberry (if he really knew how to use a Blackberry), French voters plucked up enough courage to evict the brash, egotistical and hyperactive President Bling-Bling, the so-called Hyper President from the Elysee Palace. After just one term in office this was courageous - the last time it happened was in 1981- but Sarkozy was out. He was finished along with his less-than-respected Italian supermodel spouse, so proud of having been a live-in sex toy of Mick Jagger (or possibly Keith Richards). Whatever her horizontal claims to fame, she was a lousy singer.

We would first like to give a quick update on the state of fundamental data and policitcal situation before we dive deeper into technical charts and forex setups. French Election With 51.7% of the vote, the socialist Hollande has narrowly won the French presidential election. At the election to the National Assembly due to take place in June, his side should win the majority needed to govern. However, Hollande’s victory makes the battle to contain the sovereign debt crisis even more complex. Hollande largely ignores France’s economic problems; the French economy is likely to drift further southwards. It will also make it even harder for France and Germany to agree a common line. The ECB will continue to de facto finance the peripheral countries by printing money for longer than many had feared.

We would first like to give a quick update on the state of fundamental data and policitcal situation before we dive deeper into technical charts and forex setups. French Election With 51.7% of the vote, the socialist Hollande has narrowly won the French presidential election. At the election to the National Assembly due to take place in June, his side should win the majority needed to govern. However, Hollande’s victory makes the battle to contain the sovereign debt crisis even more complex. Hollande largely ignores France’s economic problems; the French economy is likely to drift further southwards. It will also make it even harder for France and Germany to agree a common line. The ECB will continue to de facto finance the peripheral countries by printing money for longer than many had feared.

Last week I held a hearing to examine the various proposals that have been put forth both to mend and to end the Fed. The purpose was to spur a vigorous and long-lasting discussion about the Fed's problems, hopefully leading to concrete actions to rein in the Fed.

Last week I held a hearing to examine the various proposals that have been put forth both to mend and to end the Fed. The purpose was to spur a vigorous and long-lasting discussion about the Fed's problems, hopefully leading to concrete actions to rein in the Fed.