Economics and Investing:
I couldn’t help but notice that the spot price of gold jumped $30 per ounce at the opening bell in Asia on Monday morning. (Which was Sunday evening, Rawles Ranch time.) Get ready for a very scary ride in all of the markets this week! Reader J.D.D. sent this: World Financial Officials Hold Emergency Call to Discuss U.S. Credit Downgrade[JWR’s Comment: “Call in the tailors for an emergency meeting!” cries Les Empereur Sans Culottes.] Four links from G.G.: Two bank closures on August 5th bring total for 2011 to 63 banks. (One of them was inside the American Redoubt.) Marc …