Chris D. suggested this: Fed’s $16 Trillion Dollar Secret Slush Fund Props Up Our Way Of Life. The enormity of this secret bailout is staggering. The math on this is pretty simple: If you double the money supply, what can you expect to happen to the purchasing power of the currency? Hmmmm? Get ready for inflation and higher gold prices.The National Inflation Association (NIA) reports:” Currently, the U.S. ‘officially’ has 261 Million ounces of gold. If U.S. money-$13.5 Trillion in M3- were backed by “U.S. gold”, there would be over $51,724 Dollars for every one ounce of gold.” (So, after the $16 trillion in new “from thin air” money….)
Jim Rogers: “Get Ready for the Next Financial Crisis”
Jeff B. sent this video from Tacoma, Washington: An Elaborate Welfare Housing Project.
Memphis Board Delay’s School Year Start Indefinitely in Demand for City Funds
SurvivalBlog’s Editor At Large Michael Z. Williamson suggested this: Coal-fired power plants may have to close or cut operations
Yishai mentioned this over at Lew Rockwell’s blog: Gasoline at 20 Cents a Gallon. (If you pay in silver coins.)
Items from The Economatrix:
Preparing For The Worst As Debt-Limit Talks Drag On
Impasse Over US Debt Limit Sends Stocks Lower