GG was the first of more than a dozen readers to mention this article by Robert Fisk (an outspokenly leftist journal list, so take it with a grain of salt.): The demise of the dollar; In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading.
Given the import of the preceding (if it is true), is it any wonder that the USDI is tanking, and the future and spot prices of precious metals are going through the roof? You’ve had plenty of warning and investment encouragement from your editor. Eight years worth, in fact. (I called the bottom, back in 2001.)
Greg F. suggested this: Is The FDIC Killing Short Sales?
Banks brace for Latvia’s collapse; The Baltic states are once again in the eye of the storm after leaked reports that Sweden is bracing for a full-blown economic and political “breakdown” in Latvia. (Thanks to GG for the link.)
Items from The Economatrix:
Most Economically Stressed US States
Treasury to Say Three More Funds to Buy Toxic Assets
HSBC Chief Fears Second Downturn
Roubini: Markets Have Gone Up Much Too Fast
Fiscal Storm in Caymans Set to Spread
Will California Become America’s First Failed State?
Dollar Doldrums
Wall Street Faces Day of Reckoning Over Bear Stearns
US Unemployment Shows Downside of Short-Termist Stimulus Policies
East Taking Over from West in Irreversible Economic Power Shift
Treasury Yields Drop to Lowest Since May as Recovery Falters