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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 [2]. (Thanks to Sue C. for the link.)

Chris H. suggested this: Gold shines, but silver is the moneymaker [3].

Economics Professor: “[We’ll Have] a Never-Ending Depression Unless We Repudiate the Debt, Which Never Should Have Been Extended In The First Place” [4] (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.” [5]

Gold, Silver Surge After John Taylor Predicts Gold to Hit $1,900 By October [6]

More grim economic news, courtesy of John R.:

A New Surge in Job Layoffs [7] (Dave Cohen)     

“It’s A Cash-Flow Problem”: The Ever Broker US Consumer Increasingly Relying On Credit Cards For Daily Staples [8]

Jim Rogers: Fed Will Launch QE3 by Q3 [9]

Greece: Looking for the ‘right’ place to crash [10] (Kurt Brouwer)  

China urges U.S. to boost confidence in debt, dollar [11]  

Items from The Economatrix:

Get Ready For a 70% Marginal Tax Rate [12]

Moody’s Warns Could Cut Five States Tied to US Credit [13]

The Collapse of Paper Money and the Vertical Move of Gold [14]

Gary North:  The US Debt Ceiling Show Baloney [15]

Sales of Existing US Homes Fall, Partly Due to Cancellations [16]