Economics and Investing:

Entschuldigung, but doesn’t this sound a bit inflationary, for the U.S. Dollar?: Audit: Fed gave $16 trillion in emergency loans to foreign banks.

Worth reading: How Capitol Hill Is Pushing the U.S. Economy to the Edge. (Thanks to Sue C. for the link.)

Chris H. suggested this: Gold shines, but silver is the moneymaker.

Economics Professor: “[We’ll Have] a Never-Ending Depression Unless We Repudiate the Debt, Which Never Should Have Been Extended In The First Place” (Thanks to John R. for the link.)

K.K. sent this: Silver Update: Caught in the act, “The Comex is a completely and utterly corrupt market.”

Gold, Silver Surge After John Taylor Predicts Gold to Hit $1,900 By October

More grim economic news, courtesy of John R.:

A New Surge in Job Layoffs (Dave Cohen)     

“It’s A Cash-Flow Problem”: The Ever Broker US Consumer Increasingly Relying On Credit Cards For Daily Staples

Jim Rogers: Fed Will Launch QE3 by Q3

Greece: Looking for the ‘right’ place to crash (Kurt Brouwer)  

China urges U.S. to boost confidence in debt, dollar  

Items from The Economatrix:

Get Ready For a 70% Marginal Tax Rate

Moody’s Warns Could Cut Five States Tied to US Credit

The Collapse of Paper Money and the Vertical Move of Gold

Gary North:  The US Debt Ceiling Show Baloney

Sales of Existing US Homes Fall, Partly Due to Cancellations