Odds ‘n Sods:

I noticed that spot silver dropped a full dollar per ounce on Tuesday, and spot gold was down about $30 per ounce–both moved by short term gains by the US dollar in international trade. Buy on “dip” days like these! As I’ve said before, I think that gold will outperform silver in the next run-up. Get out of dollars and into tangibles. But remember what Doc Sweeny calls The Five Gs. (GGGGG.) Get right with God and then acquire your guns, groceries, and ground before you buy any gold. Be advised: You can’t eat gold, and Krugerrands make very expensive projectiles for a Wrist Rocket.

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We just got alarming news that the London Interbank Offered Rate (LIBOR) rate spiked this week, tripling to an all-time high of 6.875%. The LIBOR is the benchmark rate at which banks loan money to other banks. The spikes illustrates the absolute peril that the credit collapse has created, and the unprecedented level of distrust between banks. It will be interesting to see what this higher cost of inter-bank borrowing has as it trickles down to credit card interest rates and Adjustable Rate Mortgages (ARMs). It is conceivable that monthly ARM payments could double. The global credit market has just suffered the equivalent of a massive myocardial infraction. Dr. Bernanke is greasing up the defibrillator paddles now…

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Eric found this at The Globe and Mail: Credit cards to ‘implode:’ analyst

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Gary flagged this Time magazine op-ed piece: Let Risk-Taking Financial Institutions Fail. Gary’s comment: The derivative threat has finally hit the [mainstream] news. I thought that you wouldn’t be surprised, since you saw it coming.

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Reader “Stamps” mentioned a nonprofit organization that will send you free seeds with just a self addressed stamped envelope. They pick randomly from what they have available. Most are seeds that people harvest and donate to this project.