Weimar Republic

It is a grim ritual being performed across America's heartland. Foreclosure sign. US debt misery looms over White House race There were 1.7 million foreclosures in America in the first eight months of 2007 Wednesday lunchtime and in the lobby of the Sheriff's Justice Centre an auctioneer, lawyers, bank representatives and prospective buyers are gathered for the latest foreclosure sales.

GoldSeek Radio has done a wonderful interview with gold trader and mining executive Jim Sinclair in which he explains the worldwide financial crisis as the result of derivatives gone haywire. Sinclair also argues that central bank responses to the derivatives disaster will inflate the world's money supply far beyond any point where it might be reduced again when the crisis has passed. This, Sinclair suggests, can end only in hyperinflation.