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
Gold up $50 per oz. Since Monday
Some more articles, courtesy of John R.:
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:
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