Category: Economics & Investing

Steve C. chalked up this one: Social Explosion Concerns in Greece Following Election Pierre M. sent: Debt crisis: Greek government will be forced to seek third bail-out B.B. suggested this: Thanks Obamacare: 83% of Doctors Surveyed Say They May Quit Spanish short-term debt costs reach alarm levels. (Thanks to Sue C. for the link.) Items from The Economatrix: Europe on the Brink as Greek Crisis Comes to a Climax City By City, Here’s Your Guide To The Painfully Slow Economic Recovery Signs Of US Weakness Mount As Confidence, Output Fall Payrolls Climb In 27 US States, Jobless Rate Rises In …

Mr. Rawles, This is a response to Patrick S. letter concerning Canadian Nickels. I previously sent a post to you on the topic of sorting Canadian pennies and there was an excellent response related to Canadian nickels. Since then there has been a development in that the Canadian government has discontinued issuing new pennies. To this effect, I no longer bother sorting pennies.  In the spirit of your recent post concerning the possibility of bank holidays in the US (which I believe will could happen in Canada), I keep every penny I find regardless of if they are debased or …

Ed H. sent this: European press: Hollow victory in Greece. Meanwhile we read: Euro crisis far from over, stock analysts warn. (In essence, the EU is just forestalling the inevitable.) Michael H. sent this: Get Ready for the Coming Social Security Fight The global addiction of central banking stimulus – Contagion spreads to Spain as 10-year edges to 7 percent. Life in a perpetual quantitative easing world. Mike in Pennsylvania suggested this: Bank: We’re defaulting, but don’t you dare F.G. sent this: Chaos: Spanish Coal Miners Fire Homemade Rockets at Police to Protest Austerity File under Caching and OPSEC: Ashland …

James Wesley: I am Canadian and would like to know if you could possibly tell me what year(s) of nickels would be advisable for me to purchase. These would be for investment in the future as barter or monetary trade. Thanking you for your informative blog site. Is there anything comparable in Canada that you are aware of ? I would be much obliged for the information. Thanking You – Patrick S. JWR Replies: The situation with Canadian nickels is much more complicated than with U.S. nickels. Here is some background: In the States, just about the only commonly-circulating nickels …

‘People need some way out’: Bartering takes hold in austerity-wracked Greece. (Thanks to Brad S. for the link.) More derivatives drama: How shock waves will hit US if Greece drops euro. The CDS exposure will be enormous. Marc Faber: ‘100% Chance’ of Global Recession Bill M. spotted this: Investors tout ‘condemnation’ for housing fix. Eminent domain, seriously? What socialist claptrap! Is Silver Currently Riskier Than Gold? Andy Sutton: From Frying Pan to Fire Items from The Economatrix: The Euro’s Collapse Is Not Just About The Euro Lloyd’s Preparing For Euro Collapse John Galta–Report From Greece:  Limited Capital Controls Implemented Velvet …

Bill Whittle discusses entitlements, the debt, and the inevitability of credit downgrades, higher interest rates, and hyperinflation: I’m Talking To You James K. highlighted this news item in McNewspaper: Worst-case scenario is ugly if Greece leaves the Euro Reader Sue C. sent us this: Countries across world gird for Greece turmoil G.G. recommended this article in Der Spiegel: Desperate Greeks Withdraw Money from Accounts Strong ties between JPMorgan, Senate Banking Committee. JWR’s Comment: The Senate committee members must be “…shocked, shocked to find that gambling is going on…” at JPMorgan. Diana V. flagged this: Hong Kong Exchange to Buy London …

Now we can see who benefited from all that “stimulus”: Private Jobs Down 4.6 Million From January 2008; Federal Jobs Up 11.4%. (Thanks to Pierre M. for the link.) Joe G. sent this: U.S. Home Sales to Foreigners Rise as Low Prices Draw Investors: These numbers are mind boggling: US Federal Deficit Totals $844.5B Through 8 Months. (Thanks to G.G. for the link.) Mary F. sent this: Dread and Uncertainty Pervade Life in a Diminished Greece Items from The Economatrix: The Euro Is Doomed Gary North:  George Soros Warns EU Going Down In Three Months Data Points to Soft US …

The Two Worlds of 2012: Will We Have “Inflation” or “Deflation”? Europe Brings Out The “Capital Controls” Bazooka U.S. Derivatives Probe Eyes Bank Control of LCH.Clearnet Pierre M. sent this: Italy ‘may need bailout’ – The Irish Times Items from The Economatrix: Fed Says US Wealth Fell 38.8% in 2007-2010 in Housing S&P Says US to Avoid “Fiscal Cliff,” Risks Remain Moody’s Cuts Cyprus Sovereign Rating Two Notches Fall In May Retail Sails Driven Entirely By Lower Gas Station Spending

JWR, My wife and I have been discussing which type of physical silver to buy to get out of dollars, but we are unsure of where to start.  On your blog and in your books, you expound on the benefits of pre-1965 coinage with its 90% silver content, and we have looked at buying these coins in bulk from Northwest Territorial Mint.  While perusing that site, we also found that they sell one troy ounce Silver Eagles struck by the US Mint that are .999 pure silver.  There are pros and cons to both the pre-1965 coins and the Silver …

To follow-up on a previously-mentioned piece: Firearm-friendly towns in Idaho lure gun makers. (Thanks to Mitch C. for the link.) Peter Schiff Back on Capitol Hill Reader Tom K. found a Deloitte study that shows some insights on America’s true debt situation: America’s Debt Crisis: New research reveals five unexamined risks Pierre M. suggested: Damning Evidence in the MF Global Case B.B. sent this: Driven by gold and silver prices, thieves target coin collections Global Financial System, A “Dead End of Historic Proportions” Items from The Economatrix: Greece Warned as “Beyond Repair” The Euro’s “Guilty Men” Are Now Steering Europe …