Thursday’s headlines were full of deep drama economic news, including a market crash in Italy [1] 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 [2].)
Stock markets tumble amid eurozone fears over Italy and Spain [3].
Reader John T. recommended this by Peter Schiff: Debt Deal is a Blank Check [4]
“The Outlook for Inflation Is Dire”: Peter Tanous [5]
Eric Sprott: The Real Banking Crisis [6]
Italy Under Fire in Widening Euro Debt Crisis [7]
Eurozone Debt Woes Get Messier [8]
Taxed Out New Yorkers Fleeing State [9] (Vote with your feet!)
Threat of Downgrade Still Looms [10]
US Job cuts at 16 Month High [11]
Gold up $50 per oz. Since Monday [12]
Some more articles, courtesy of John R.:
License to Debase US Dollar Further Jim Willie [14]
Bob Chapman: All The World Economies In Trouble One Way Or Another [15]
Deficit Will Grow While Economy Shrinks [16] (Greg Hunter)
Items from The Economatrix:
Wall Street Stocks Drop 2 Percent (over 500 points) On Economic Fears [18]
Dow Plunges 513, Worst Drop Since 2008 [19]
Oil Falls To Lowest Level In Six Months [20]
The Next Leg Of The Housing Bear Market Has Begun [21]
$2,000 For An Ounce Of Gold Seems Like The Only Bet Worth Making [22]
The Imminent $2.5 Trillion Debt Ceiling Hike Will Unleash A Gold Price Surge To $1,950 And Higher [23]