Items from The Economatrix: Quake & Tsunami Blow To Fragile Japanese Economy Regulators Close Small Banks in Oklahoma and Wisconsin More People Sought Unemployment Aid Last Month January Trade Deficit Jumps To $46.3 Billion 21 Signs Of Impending Doom For The 2011 Economy 8 Reasons Why Silver Is The Investment Of The Decade Q.E. Money Printing Negative Feed Back Loop To Hyper-Inflation Oblivion
Five Things Every American Should Do, But Won’t’. John R. suggested this at Zero Hedge: Paul Mylchreest’s Latest Must Read Report: Gresham’s Law Squared – Gearing Up For Game Over Michael Z. Williamson (SurvivalBlog’s Editor at Large) suggest a piece by Charles Krauthammer on the Social Security fraud: Et tu, Jack Lew? Items from The Economatrix: Libya’s Revolt Squeezing World Oil Supplies The Driver For Gold You’re Not Watching Unemployment Rate Falls In 24 States, Rises In 10
JWR, Last week, legendary investor Warren Buffett of Berkshire Hathaway was asked in an interview (cited in blogs and articles now all over the Internet) why he was not investing in gold. Here was his reply: “If you took all the gold in the world, it would form a cube 67 feet on a side, worth $7 trillion. For that same amount of money, you could own other assets with far greater productive power, including: All the farmland in the US, about 1 billion acres, which is worth $2.5 trillion. Seven Exxon Mobil’s (XOM), the largest …
Bank of America says nearly half its mortgages are ‘bad’. (Thanks to G.G. for the link.) Also from G.G.: Number of U.S. Expatriates Doubled in 2010. JWR Adds: I suspect that a lot of these were long-term ex-pats who had heard about the planned increases in the Federal income tax brackets. (Which thankfully were cancelled at the 11th hour.) Tony B. recommended this essay by Seth Lipsky: The Floating Dollar as a Threat to Property Rights Items from The Economatrix: Unrest In The Middle East Continues / Silver Prices Exceed $36 Gold $1,500? The World Is Changing Pocket Money …
21 Signs Of Impending Doom For The 2011 Economy Roy M. sent this: Hoarding Nickels, Collecting stamps? Is this the best investment for America’s working poor? Economist warns of double dip recession if oil hits $140 (Thansk to C.D.V. for the link.) Gasoline cost to jump $700 for average household. January trade deficit jumps to $46.3 billion Items from The Economatrix: People Aren’t Buying Economic Lies Told By The Government Is Buffett Ignorant? Gold on its Way to $6,000? Spiking Oil, Plunging Economy Spiking Oil, Plunging Economy Underwater Mortgages Rise As Home Prices Fall
Coffee Hits New 34-Year High on Supply Fears. (A hat tip to Flavio for the linkio.) Why It’s Not $100 Oil We Should Be Worried About. (Thanks to Sue C. for the link.) Roubini Predicts Oil Will Hit $150 Per Barrel, Traders Betting On $200
Reader Scott M. sent us this: “No Way Out” of Debt Trap, Gross Says: U.S. Living Standards Doomed to Fall Welfare State: Handouts Make Up One-Third of U.S. Wages. (Thanks to Pierre M. for the link.) Will China’s ‘Have-Nots’ Be Next to Rebel? Items from The Economatrix: US Wants To Take Your Dollars And Replace With Coins Financial Dismantling Of The American Middle Class Physical Silver is Really $50 Per Ounce People Of Earth: Prepare For Economic Disaster Bank Stocks Push Indexes Higher; Oil Prices Dip Beyond Libya, Oil Market Warily Eyes Saudi Arabia
James, You will have soon received a flat rate Priority Mail box containing $150 in nickels (inside a thick cardboard reinforcement liner) that I sent you. I sent you those coins for two reasons: One: I should have been a [voluntary] Ten Cent Challenge subscriber, starting from back when I began reading SurvivalBlog in 2008. The nickels cover not only the past three years, but also pre-pay my subscription for the next year, too. Two: Last week my local bank finally cut me off (and other bank patrons, too), from buying more than one roll [of nickels] at a time. …
Reader L.I.Z. sent this: Using new metals in U.S. coins could impact counterfeiting, public safety and a lot more. Collect you cache of nickels now, before their minting composition is debased. Meanwhile in commodity news: Are High Nickel Prices Here to Stay? KAF forwarded this: U.S. sets $223 Billion Monthly Deficit Record John R. recommended this piece by Bob Chapman: The Fed Distorts The Economy With Inflation Items from The Economatrix: Burst of Hiring Could Mark Turning Point for Jobs Factory Orders Up in January, Helped by Airplanes Food and Fuel Bills to Rocket, Warn Ministers and UN …
Jim, Your readers might be interested to know that banks [where I live in California] have started charging a fee for rolled U.S [five cent piece] nickels. I’ve been going to Wells Fargo Bank ever since you wrote about the subject, several years ago, gradually obtaining nickels at cost. Yesterday, I found that they’ve begun charging 7.5% per $100 box. Another local bank, beginning in March, has started charging 10% per roll of nickels. Word is getting out: Gresham’s Law is intact. – Paul B.
Lynn G. mentioned this disturbing article about the bankrupt city of Vallejo, California: Broke Town, U.S.A. John R. suggested this: Egon von Greyerz: “A Hyperinflationary Deluge Is Imminent”, And Why, Therefore, Bernanke’s Motto Is “Après Nous Le Déluge” Utah House Passes Bill Recognizing Gold, Silver as Legal Tender. (A nice gesture and a good start, but what we need to do is abolish the Federal Reserve and reinstitute a Constitutional bi-metallic currency system for the nation.) Reader C.D.V. sent several inks: Investors Are Seeking Safety in New Harbors: Dollar, Once a Favored Refuge, Loses Ground to Yen, Franc US Standard …
C.D.V. sent this: The Future of Food Prices: What Will Food Cost in 2015. “The current prices in your grocery store don’t presage an approaching storm. But that’s exactly what’s coming, says Bill Lapp, president of Advanced Economic Solutions, a consulting firm in Omaha, Nebraska, and the former chief economist for ConAgra Foods.” Kory P. sent this update on his local chicken feed prices: Nutrena Premium Layer feed last year was $9.99 per bag Nutrena Premium Layer feed two months ago was $10.79 per bag Nutrena Layer feed (no longer premium) is presently $12.49 per bag World Food Prices Increase …
“I Get It Now.” A beginners to guide to investing in physical silver. (A hat tip to CRW for the link.) In Price of Farmland, Echoes of Another Boom J.B.G. sent this from from The Daily Mail: Petrol prices could hit £2 a litre if Libya turmoil escalates, warns Government minister. (At the current exchange rate this works out to about $13 USD per gallon.) Items from The Economatrix: As Silver Touches $34.90 US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production Silver Still In Backwardation / Small Silver Deliveries China “Attacks The Dollar” …
Charley S. pointed me to an opinion piece in The New York Times on the silver market by William D. Cohan: A Conspiracy With a Silver Lining. We are witnessing a market that is so hot, and that has taken so many mainstream market pundits by surprise that they finally realize that it is time to mention alternative media sources like Silverseek, 321Gold and Seeking Alpha. I’ve been quoting and linking to these site since 2005. All that I can say to the mainstream media is: “Well, better late than never!” Here’s a thought to ponder: How many times does …
State Worker Retirements Soar Across the Country Gonzalo Lira: The Dollar, and The Next Ten Days. “The next ten days will be key: Will the dollar spike up? Become the safe haven of everyone fleeing from the world’s troubles? Or will the dollar nosedive, the first big step down in its death spiral?” James Turk – The Dollar Collapse Will Shock the World G.G. suggested this piece by Michael Pento: It’s Taps For the Still Weakening Dollar Items from The Economatrix: February Retail Sales Rise In Most Categories Oil Jumps Above $102 Bernanke Sees 200,000 Hit to Jobs …