Economics and Investing:

Thursday’s headlines were full of deep drama economic news, including a market crash in Italy that looked like La fine del mondo come lo conosciamomeowner. Concurrently, the recent drop in silver has widened the silver-to-gold ratio 42.4-to-1. (Meaning: The cost of one ounce of gold currently equals just over 42 ounces of silver.) So this a great time to go to your local coin shop and perform a ratio trade: Ask them to swap your 1-ounce gold coins into bullion silver coins. (For readers in the U.S., pre-1965 mint date 90% silver Quarters are recommended.) Even though you’ll have to pay a dealer’s commission–so you’ll only get about 40 ounces of silver in trade for a Krugerrand–I believe that you will be making a wise move. In fact, I predict that two years from now, when the silver-to-gold ratio has narrowed to 20-to-1 (or lower), you will thank yourself. (Or perhaps thank me, and buy a subscription.)

Stock markets tumble amid eurozone fears over Italy and Spain.

Reader John T. recommended this by Peter Schiff: Debt Deal is a Blank Check

“The Outlook for Inflation Is Dire”: Peter Tanous

Eric Sprott: The Real Banking Crisis

Italy Under Fire in Widening Euro Debt Crisis

Eurozone Debt Woes Get Messier

Taxed Out New Yorkers Fleeing State (Vote with your feet!)

Threat of Downgrade Still Looms

US Job cuts at 16 Month High

Gold up $50 per oz. Since Monday

Some more articles, courtesy of John R.:

Gross US Debt Surges By $240 Billion Overnight, US Debt to GDP Hits Post World War II High 97.2%, Official Debt Ceiling Increase Only $400 Billion  

License to Debase US Dollar Further Jim Willie   

Bob Chapman: All The World Economies In Trouble One Way Or Another   

Deficit Will Grow While Economy Shrinks (Greg Hunter)

Items from The Economatrix:

Ron Paul Exposes The Deficit “Plan” Lies:  “Cuts Are Illusory, Not From Current Amounts Spent But From Projected Spending Increases”

Wall Street Stocks Drop 2 Percent (over 500 points) On Economic Fears

Dow Plunges 513, Worst Drop Since 2008

Oil Falls To Lowest Level In Six Months

The Next Leg Of The Housing Bear Market Has Begun

$2,000 For An Ounce Of Gold Seems Like The Only Bet Worth Making

The Imminent $2.5 Trillion Debt Ceiling Hike Will Unleash A Gold Price Surge To $1,950 And Higher