Author: James Wesley Rawles

Jim, A reader wrote in and was posted with a letter called Converting Precious Metals Exchange Traded Funds (ETF)s to Physical Metals. This is pretty good advice but I would consider one change. I would not invest my IRA or 401k into ETFs or mining stocks as they are too volatile. Like his idea that investing in food companies wouldn’t feed his family like physical food, investing in ETFs and mining stocks guarantee nothing as far as actually getting any money out if things fall apart. Rather, what I recently did was convert them to physical metals. The IRS allows …

GG sent us this editorial by Nouriel Roubini: The worst is yet to come: Unemployed Americans should hunker down for more job losses. Jeff B. spotted: Taxpayers on hook as some bailed-out firms prove frail; With CIT in bankruptcy, U.S. is faulted for investing in weakened companies As Needlenose Ned Ryerson said (repeatedly): “Watch out! The next step’s a doooozy.” (For some background, see: Dollar Falls to 15-Month Low as Fed’s Support Draws Skepticism.) Meanwhile, at the risk of mixing movie metaphors, it’s Hi-Yo Silver, Away! Items from The Economatrix: Stocks Post Modest Gains on Rise in Commodities Factory Production …

Jim, I send this respectfully to those delusioned Exchange Traded Fund (ETF) investors. Just like the people of earth believing the world was flat, it will become common knowledge that ETFs are just a vehicle for investors and not for those who believe in the metal. It is proven in the ETF prospectus that most are backed with the same faith as our Federal Reserve Notes. Both are still good for trading for profit now but when TSHTF at least your dollars can be used as tinder. You will never be shipped a single ounce of precious metal from an …

GG suggested this commentary by Ambrose Evans-Pritchard: China has now become the biggest risk to the world economy Reader “Gravy” sent a link to an interesting animated map on changes in unemployment rates. Mr. D. sent a link to a National Pravda Radio news story: Joshua Kosman, Predicting The Next Credit Crisis. And on a similar note, GG sent this from The New York Post: Book: Spike in PE-owned firm defaults ahead Items from The Economatrix: Irish Government to Pay Immigrants to Go Home Have Prices Already Risen Too Much, Too Soon? Karl Denninger: Better Late Than Never Economists Fear …