This from Ed Steer this morning in his daily commentary.

In a story that was all over the Internet yesterday, I see that the Senate has approved legislation to raise the federal government's borrowing limit by $1.9 trillion... enough to enable the Treasury to pay its bills through 2010. As reader S.A. put it yesterday... "Eric Sprott is right, the U.S. dollar is "not a safe haven". It should be a message to you, gentle reader, to buy physical gold and silver with both hands.

As I said in yesterday's column, we are much closer to the end of this liquidation cycle than we are to the beginning, so it's time to think seriously about where to deploy any capital you may have still lying about. Market bottoms, although financially and emotionally painful, are the exact times that one should be making serious investment decisions... while blood is running in the streets.