Most of you have noticed the recent price action in silver [1] and gold [2]. Typically, the precious metals go through “Summer Doldrums” each year, with light trading and moderated prices. But not this year! One can only ask: if the market this strong in August, then how will it be in November, as the US Dollar Index [3] (USDI) continues to slide? I hope that you took my advice and bought silver when it was recently under $12.50 per ounce. In my estimation even at $14.50 per ounce, silver is still a bargain. As I’ve often written, buy on the dips.
BusinessWeek says huge wave of corporate Bankruptcies coming [4]. (Thanks to GG for the link.)
Rich suggest this: How Safe is My FDIC-Insured Bank Account? [5]
While our politics are disparate, I’m only rarely disappointed by the analysis and commentary presented by Charles Hugh Smith’s Of Two Minds blog. Here is a recent post: “The Royal Scam” by Anonymous Correspondent [6]
Items from The Economatrix:
Postal Service Considers Closings, Consolidations
Tax Revenues Post Biggest Drop Since The Great Depression [7]
Mainstream Media Economic Recovery Propaganda, False Profits and Some Surprises
Do Not Be Fooled: Another Major Economic Collapse Could Be Coming Sooner than Many Think [8]
Prolonged Aid to Unemployed to Run Out By Year’s End [9]
Alabama’s Jefferson County Makes Massive Job Cuts [10] Lays off 2/3s of 3,600 employees because of plummeting revenues.