Category: Economics & Investing

J.B.G. was the first of several readers to mention this: Return of the Gold Standard as world order unravels Over at Fierce Finance: FATCA law is little known–but could be tricky Tina B. suggeted this by Ellen Brown: Why QE2 Failed: The Money All Went Offshore Gary North: On the Road to Government Default. (Thanks to John R. for the link.) Headline from England: Age of austerity to continue for decades, warns OBR Items from The Economatrix: UK:  Suicide Rates Rise as Debt and Cuts Take Their Toll 25 Reasons to Buy Gold and Dump Dollars Italy Contagion Fears Knock …

Bernanke: Fed May Launch New Round of Stimulus. It seems that Helicopter Ben is addicted to “quantitative easing”–the Fed’s euphemism for monetizing Federal debt. If they can repeatedly get away with creating dollars out of thin air, then the end result is inevitable: the wholesale destruction of the U.S. Dollar as a currency unit. Reader John T. liked this piece by Jim Willie: The Silver Platter Opportunity Yohay over at FOREX Crunch posted this provocative article: Captain Ben Can Handle the Debt Ceiling D.S. sent this: Derivatives Rules to Help Swaps Market Grow $40.7 Trillion, Citigroup Says. The market for …

Hi-yo silver! Typically, the precious metals are in their summer doldrums in July and August. but not this year. This coming Autumn could get very interesting, depending on financial developments on the periphery of Europe. All eyes are presently on Greece, but Italy, Spain, Portugal, Ireland, and Iceland will probably soon be in the headlines again. I wouldn’t be surprised if silver gets above $55 per ounce. Its a good thing that most SurvivalBlog readers have been buying on the dips. Reggie Middleton warns, over at Zero Hedge: Eighteen Percent of the EU is Literally Junk, Carried as Risk Free …

F.G. flagged this: How bad is it? Pawn shops, payday lenders are hot At The Daily Bell: Ron Holland on the Inevitability of Societal Chaos, How the Elites Will Try to Maintain Control Hardy’s hearty recommendation: The Decline and Fall of the American Empire John R. liked this piece by Mary Beth White: Stupid Choices Equal Bankruptcy (Usually) Pennsylvania family fights US over rare 1933 gold coins. JWR’s Common Sense Tip of The Day: Don’t ever send anything rare and valuable to a bureaucrat, asking for a determination on its legal status. You’re likely to get: “We’s keepin’ this” for …

B.B. pointed me to this, over at Zero Hedge: Retirement Fund Plunder Update: $206 Billion So Far, $62 Billion Left 30 Reasons To Get Out Of Real Estate and Into REAL Assets. (Thanks to Chris D. for the link.) Reader Jay H. kindly sent this link: Gold is best debt-crises defense — just not yet Naughty, Tim! He didn’t stick to the “Continuing Recovery” party line: Geithner says hard times to continue for many Sue C. forwarded this: Dollar likely lower without debt limit progress John R. sent us several great links: Several Inconvenient Truths About the Debt Ceiling and …

Vrenellis, anyone? Swiss Parliament to Discuss a New Gold Franc. US Taxpayers Just Paid $780 Million to Fund the Latest Greece Bailout Tranche. [JWR Adds: For some perspective, do you remember the uproar the $1.5 billion 1979 Chrysler bailout caused? And that was a loan, not a gift.] ‘The Greeks Would Be Well Advised to Exit the Euro Zone’. (Thanks to J.B.G. for the link.) Yishai flagged this, over at the Jammie Wearing Fool blog: Great News: Friday’s Anemic Jobs Number Are Likely Bogus Items from The Economatrix: Oil & Gasoline Prices on the Rise Again Graph:  What Recovery? US …

Michael Z. Williamson (SurvivalBlog’s Editor at Large) sent this: No new $10s, $100s being printed instead Brzezinski: Middle Class Unrest To Hit U.S. (Thanks to S.T. on Philly for the link.) Dennis C. sent us this: World Food Prices Climb on Sugar, Dairy Costs As Plastic Reigns, the Treasury Slows Its Printing Presses Top 10 Most Valuable U.S. Coins Found in Pocket Change Items from The Economatrix: Government Eases Foreclosure Rules For Unemployed Retailers Post Strong June Sales Retail Sales and Jobs Reports Send Stocks Higher Job Outlook Rises as Reports Suggest More Hiring

Loyal contributor F.G. sent this: U.S. banks are now closing faster than they are opening Brett Arends: The next, worse financial crisis Commentary: Ten reasons we are doomed to repeat 2008. (Thanks to John R. for the link.) More FDIC Friday Follies: Three More Failed Banks: Signature Bank and Colorado Capital Bank (both in Colorado) and First Chicago Bank and Trust (Illinois) Three Tea Party-Backed Senators Bet Economic Recovery on Gold Scott E. suggested this from Mines magazine: Sourcing Rare Earths and Critical Minerals Items from The Economatrix: Stocks Sink After Dismal June Jobs Report Silver Bullion Eagle Coins Reach …

Scooby Doo say: “Rutt-row!”: Moody’s Downgrades Portugal to Ba2 From Baa1, Outlook Negative John T. suggested this by Peter Schiff: The rise of the barter economy Tyler Durden reports at Zero Hedge: Planned Job Cuts Increase by 12% in June, Second Sequential Increase. Here is a quote: “Forget new job formation. According to the just released Challenger jobs report, job destruction is starting to be an issue again, after the June report disclosed that “the number of planned job cuts announced by U.S.-based employers increased by 4,297 or 11.6 percent to 41,432 in June.” Europe takes another step closer to …

Courtesy of David N.: Lessons of Argentina crisis ignored in handling of Greece The latest from The Daily Bell: So Many Lost Decades – Why? Items from The Economatrix: Be sure to watch this: Economic Armageddon & You Factories Busier In June After Spring Slump Enough of this Greek Farce, Everyone Knows Default is Coming The Great Misdiagnosis Selling Gold Teeth in Greece to Make Ends Meet Jim Rogers:  Boost Food Production At Any Cost Or “No Food At Any Price”