Predictably, they slammed on the brakes at the COMEX: CME Group Hikes Margin Requirements For Comex Gold Futures. But since the physical market for gold is so strong, this move against futures trading will probably cause only a brief drop in the price of gold. The bull will resume his charge. (Thanks to Eli for the link.)
Dennis C. mentioned this editorial: Falling Bank Stocks Offer a Too-Big-to-Fail Wakeup Call
John R. kindly sent a whole raft of links:
Jim Rogers: Bernanke, Geithner Leading Us Into Fiscal Armageddon (Henry J. Reske and Kathleen Walter)
The Best Looking Horse in the Glue Factory (Jim Quinn)
UBS’ Andy Lees On Why The US Economy Is, All Else Equal, Doomed (Andy Lees, by way of Zero Hedge)
The Elusive Abyss (Neil Charnock)
S&P 500 Update – US Dollar Sacrificed (Dan Norcini)
Global Grand Policy Failure: Liquidity Traps and Financial Black Holes (Charles Hugh Smith)
“Europe Is On The Verge Of Collapsing” (Raul de Sagastizabal)
Is This It? Or Can They Fool Us Again? (John Rubino)
Ramifications of a U.S. Debt Downgrade (Greg Hunter)
Did S&P Shoot Itself in the Foot? (Martin W. Armstrong)
The Coming Fiscal Train Wreck — Part I (Dave Cohen)
Reality Finally Hits The Morbidly Obese US Government (Jeff Berwick)
Global Warning-Credit Spreads Widening (Bob Hoye)
The staff of Der Spiegel asks: Is The World Going Bankrupt?
Items from The Economatrix:
JPM Sees Gold at $2,500 By Year End
Fed’s Low Rates are No Fix for Economy or Retirees
Pension Warning Amid Market Turmoil
Gold Price Soars Amid Mounting Fears Over Double-dip Recession