At this point it is important to address the implications to our subscribers of the "fiscal cliff." Remember that our representatives have been revealed as active shareholders in the purchase of stocks that drive our economy. When Jamie Dimon was being questioned by the committees, it was instructive to learn that the very inquisitors owned many of the stocks under surveillance. Speaking of conflicts of interest! Seemingly forgotten has been the activities of Gov. Jon Corzine and MF Global with the missing hundreds of millions of dollars, which apparently have gone up in cigarette smoke. The elites are not about to rock and sink the boat. It might be a pleasant surprise to see them finally get down to the business of the nation in addition to their own interests. How refreshing it would be for both parties to join in reducing the budget deficits before the possibility of a holiday catastrophe? The pressure is on for our re-elected president and the lame duck Congress to avert a Black Swan. Any move short of reconciliation might not only risk another recession, but also question the viability of the American economic system. The question arises, in the long term, will these conciliatory measures work or are they destined to be short-term Band-Aids? Our national debt is at least $16 trillion. Could it be this increasing shift to soft money may be too little and too late? After all, you can blow up a balloon only so much before it bursts. Close to 23 million people are unemployed in this country and about half of our citizens don't pay federal income taxes. If we are believers in hard currency such as gold and silver, then the printing presses will be turned on even stronger to attempt to satisfy our soaring debts and artificially boost the economy. However, there may be another side to this story. Could it be that the proponents of entitlement have voiced their feelings in this recent election? The majority of the American people may well be in favor of priming the pump to satisfy their lifestyles. We have become a nation of debtors. Between mortgage, student loan and credit card debts the average citizen owes more than $50,000. To a certain proportion of our nation, free and easy fiat money may well be the way to go in the short term. Eventually, the piper must be paid. We may have to face one day that the party is over. Our large creditors such as the Chinese are already looking to diversify away from U.S. debt and the dollar. Our critics have felt that our patience with precious metals positions are not buy-and-hold, but buy-and-hope. So far, our long range charts signal gold and silver are in a continuing bull market. This is sometimes obfuscated by a concentration on the short-term tactical decisions. The technical picture reveals the opposite.