This putting blame on everybody else infuriates me. And I think I'll get my own editorial to tell you why. As you might guess, I'm fed up with the fact that segments of our society (Humungous Bank & Broker in particular) have set in place a broken financial system that allows them and their best clients, the Gnomes, to simply divide and conquer.

When will We The People learn that we don't need a patchwork quilt of laws, rules and regulations that allow these people to exploit the holes in the fabric. We are not corrupt; the system is corrupt.

We need to understand why the system is broke, and then work amongst ourselves to fix it.

It is broke because Humungous Bank & Broker (JP Morgan, Goldman, Lehman et al) have put in place a financial system that permits them all the advantages of controlling all aspects of financial transactions. And that is flat-out wrong.

It is, pure and simple, a license to print money for them and to cause untold grief for the rest of us. Not only is today's Securities Act unnecessary; it is killing us.

And now people are saying we need more patchwork legislation, more government. So I'll ask one simple question: why? To protect us or THEM?

Don't people get it yet: "Subject to regulatory approval" is not meant to protect anything but the status quo. So, once again I say it: the status quo is killing us. The Banks and Gnomes are getting richer and more powerful, while the rest of the People are growing more restless.

Unless something is done soon, this will end badly.

I say that the solution has been obvious for many years. Break the sell-side bank monopoly control over the capital markets. Understand the difference between a financial service and the trading of capital. Understand the difference between debt and equity, assets and liabilities, debits and credits.

Understand that we need separate regulatory systems for each because the owners of assets have a different axe to grind than the money lenders and financial product sellers.

As it stands, from the time of the securities legislation in the U.S. in 1933 and 1934, the owners of capital have been marched into slavery by the lenders of capital.

The situation is so ridiculous that in order for an owner or manager of capital to be able to exchange that capital holding with that of another, we must allow the banker to hold it, to advise us, to understand our intentions, to watch our transaction initiate, transpire and close, and to intervene secretly in these transactions, and to act as judge and jury when we complain of our losses.

In fact the whole thing is called THE CREDIT RING. What the hell happened to the debit ring?

And now that We The People have been pushed to the brink of the limits of exasperation, and some of us, like the Skillings and the Lays, are failing, people are pointing fingers at OUR corruption. This is mind-boggling.

If you understood a thing about Pavlov's Dog, you'd know that We are not the problem. We have been trained to do the things We do. But We have been mis-trained and mis-led.

To get out of this mess, We need A DEBIT RING. We need to attack the crown jewels of Humungous Bank & Broker by causing changes in the way they want us to be regulated.

They don't want us to attack the whole structure of the Federal Reserve Banking system, so We ought to. They don't want us to change the way they deal with private equity and hedge funds, so We ought to.

It's time for We The People to turn the tables on the Banks and the Gnomes.

Now, to get back to business; the U.S. Jobless Claims and the Productivity numbers are coming out at 8:30am. Gold is off -$13.00. We now we have to deal with THEIR spin. It's time to go to war.