It is noteworthy that spot silver [1] and gold [2] prices have remained fairly solid near their six-month highs, despite the IMF’s saber rattling move of announcing 403 metric ton sale of gold [3].: This is evidence that wise investors have not been fooled by all the governmental and bankster blustering and that they will continue to shelter more of their assets in tangibles.
“The Other Jim R.”: flagged this must see: video link: ‘Worst economic collapse ever’ [4]. (Don’t hold back, Mr. Celente, tell us how you reallllly feel!) For those readers that don’t have a fast Internet connection, Matt B. mentioned that there is a transcript of the interview [5] at the Russia Today web site
Thanks to G.G. for sending this from Wall Street Journal – Europe: We’re Heading Toward a Global Weimar; Things are grim, but he who masters green tech will be a superpower. [6] A key quote: “The global banking system is thus on the brink of bankruptcy. So the worst-case scenario is the most likely scenario: a collapse of the banking system followed by world-wide inflation.”
E.L. suggested listening to An Interview with Ambrose Evans-Pritchard [7] in Don McAlvany’s latest podcast.
MPS in Alabama flagged this New York Times editorial: The Worst-Case Scenario [8]. MPS had this droll comment: “The plot summary of your novel has been appropriated.”
Courtesy of Jeff in Alaska: Large U.S. banks on brink of insolvency, experts say [9]
Larry T. sent this: Revealed: The true horror of everyday life in Zimbabwe [10]
Items from The Economatrix:
US Unemployment Climbs to 32-Year High [11]
Where Do All the Gold ETFs Get Their Bullion? [12]
A Pension Deficit Disorder [13]
Banks Agree to Foreclosure Moratorium [14]
Wave of Bad Debt Swamps Companies [15]
Silence is Golden (The Mogambo Guru)
Doug Casey on 2009: Another Year of Shock and Awe [16]
European Bank Bailout Could Push EU into Crisis [17]
Ireland to Take Control of Banks, While Plans for Fortis are Rebuffed [18]
As Vacant Office Space Grows, So Does Lender’s Crisis [19]
Stimulus Still Can’t Help Wall Street [20]
Stimulus Puts $13 in Weekly Paychecks [21]
Caterpillar CEO Contradicts Obama on Stimulus
Europe’s Industrial Base May Never Recover from Crisis [22] “European Commission warns EU states running out of money for rescue packages”
US Family Net Worth Down 20%
[23]
Senator Schumer’s “Pork” Comment Draws Ire [24]