Comment: What free market are you talking about?

The Fed's QE to infinity is a massive market intervention. If by "free market" you're referring to the fact that global central banks are "free" to manipulate markets, you would be right. The Chinese yuan is slated to become the new world reserve currency and they're buying the gold to back it. I should say the Fed, Wall Street and US multinationals are supplying the Chinese gov't with capital to buy gold.

If Iran closed the Straits of Hormuz, which is unlikely, there would be a temporary spike in U.S. gasoline prices, which illustrates the need to maximize U.S. domestic production. And there may be an oil glut resulting from a temporary closure of the Straits, but China has locked in a $50 dollar per barrel price so their oil consumption would continue to increase.

If you watch the Wall Street hacks who host market shows on CNBC, they all claim to be free market disciples. And the business model of Too Big To Fail and Too Big To Prosecute banks, is based on systemic fraud. So the free market is a market free from the rules of capitalism and rule of law, which is nothing more than organized crime. What we need is a competitive, capitalist market economy based on the rule of law. Check out my post titled "Morals, Ethics and the Role of Gov't in a Capitalist Economy". http://www.standupforyourrights.me/?p=917