It was no great surprise on Monday to see spot gold [1] punch through the $1,600 per ounce level for the first time ever, and spot silver [2] back up above $40 per ounce. But just wait…. If Greece defaults on its sovereign debt, there could be some real fireworks in the metals markets. (And in the credit markets, and the FOREX currencies market…)
Loyal content contributor F.G. sent this news item: Wealthy Britons Prepare To Flee [3]
Central Banks’ First-Half Gold Buying Surpasses 2010 Total [4]. (Thanks to Jeff B. for the link.)
Michael W. sent this: Free seeds helping Americans get by, live healthier [5]
Brain in Michigan suggested this by Bob Chapman: Crisis And Collapse Unfortunate but Inevitable [6].
Items from The Economatrix:
Moody’s Will Cut 7,000 Top-Rated Muni’s if U.S. Downgraded, Reviewing More [7]
Economic Outlook Grim If No Debt Deal Reached [9]
Regulators Shut Two Banks in Georgia, One in Florida [10]
US Debt Standoff Threatens to Turn Crisis into Catastrophe [11]