Category: Economics & Investing

Hello Mr. Rawles, I’m a newbie to investing in junk silver and no nothing about coin collecting, but some questions at my local coin shop in Calgary, some research on Wikipedia have yielded some information I thought your readers might find useful: 1920 – 1967 Canadian minted coins seem to be the most commonly collected and follow this general rule: Any combination of $1 face value 1920 – 1967 Canadian minted coins contain 0.6 Troy Ounces of silver (said coins have 80% silver content), with the exception of dimes and nickels. In 1967-1968 it appears there were 50% silver dimes …

Those pesky derivatives again: The Next Shoe To Drop: European Insurance Companies – Assicurazioni Generali CDS Explodes. (Thanks to J.B.G. for the link.) Another from J.B.G.: US Ready to Back Bigger EU Stability Fund: Official. John R. sent these two items: EU Outlines Bond Restructuring Plan  Also from John: EU rescue costs start to threaten Germany itself. “The escalating debt crisis on the eurozone periphery is starting to contaminate the creditworthiness of Germany and the core states of monetary union.” Mounting calls for ‘nuclear response’ to save monetary union. (Thanks to J.B.G. for the link.) Dr. Housing Bubble reports: The …

John R. sent this: Currency Crisis! So What Happens if the Dollar and the Euro Both Collapse? [JWR Notes: I predict that both will collapse, but that the Euro will tank first. This will mean a brief upswing in the value of the U.S. Dollar. As I’ve noted before, that brief interim will likely provide a window of opportunity to buy precious metals.] Number of the Week: 492 Days From Default to Foreclosure. (Thanks to John R. for the the link.) Another from John R.: Starve the Beast: Just Bull, not Good Economics. World at a Boil with War and …

Kleptocracy in action: France seizes €36 billion of pension assets. We’re told that this was done to pay off some of their welfare debt. I thought that the French had done away with pissoirs, but apparently they still have a very large one. But of course the French are tres brillant, so I shouldn’t doubt their judgment. Thanks to Pierre M. for this item: Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare’ for Some Marc the former 91B mentioned Chris Martenson’s commentary on Peak Oil: It’s Official: The Economy Is Set To Starve B.B. sent this news item from Oz: Millions …

Lynn G. sent this: Seven Towns Where Land is Free John R. flagged this news item: IMF’s Dominique Strauss-Kahn wants fiscal and reform powers given to Europe Reader B.B. suggested this article: Debt commission co-chairman predicts ‘bloodbath’. B.B. also mentioned a Zero Hedge piece, where Tyler Durden asks: Are Expert Networks About To Be Exposed As The Ringleader In The Biggest Insider Trading Bust In History? Tam over at View From The Porch had some commentary about an article on modern day house squatters: Another step closer to Mad Max? John R. sent this commentary by Lawrence A. Hunter: Save …

The latest official CPI figure: 0.2%. Yeah, right… (After some masterful hedonic adjustments and excluding “volatile” food and fuel–things that matter the most to consumers.) Reader P.T.R. notes: “I noticed that I needed to re-stock some Tang [freeze-dried orange juice powder].  At the store, I noted that it’s now sold in a larger container, so I thought ‘they’re trying to sell more product — the Large Economy Size ploy’.  It wasn’t until I got home and compared it to a canister That I had purchased a couple of years back that I saw the real differences.  The old container held 12.3 …

Doug Kass: Jaw Dropping Prediction For 2011 John R. mentioned this commentary by Jim Willie: QE2 & The Great Misdiagnosis Ireland Unveils Four Year Budget Details, Riots Imminent The Guardian reports: Belgium joins financial markets’ hit list. (Thanks to Bram for the link.) B.B. sent this “desperation measures” news from Ireland: Pension reserve funds to be spent on banks Items from The Economatrix: China, Russia Quit Dollar On Bilateral Trade   Gold Is George Soros’ Biggest Holding   Silver Shortage, A Sign of Manipulation?   Nutting Professor (The Mogambo Guru) 

G.G. sent this: List of Problem Banks Grows Despite Solid Net Income Is the gold market setting up ETFs for chaos? China, Russia Quit Dollar The Fed QE2 Saga Continues Items from The Economatrix: Silver Shortages Accelerate as Wholesale Supplies Plunge   October New Home Sales Drop 8.1%, Prices Fall   Caterpillar Issues First Note in Chinese Currency   Corporations Show Largest Profits In History Amidst Jobs Crisis  

Fierce Finance reports: Private-label MBS debt looms as huge risk Ireland’s unfolding crisis may be followed soon by Portugal, and then Spain and Italy. That many sovereign debt failures would spell the end of the Euro. If the Euro collapses it might cause a temporary jump in the value of the US Dollar, and a corresponding drop in precious metals (at least in Dollar terms.) That dip may be the last chance to buy silver before it vaults into $50+ territory. Robert Rubin: “US In Terribly Dangerous Territory,” Bond Market May Be Headed For “Implosion” Meredith Whitney sees 5,000 bank …

Record-High Turkey Prices Are Just the Beginning. “Currently, wholesale prices are hovering around $1.09 per pound, the highest they’ve ever reached. This represents a 28% increase over 2009’s prices and a 37% increase over 2008’s. The BHO Administration still claims that inflation is low. Yeah, right. The 2010 list price shows that a standard blue steel Colt M1911 .45 automatic is now $919. (Or $950 for stainless steel.) I can only wonder what the 2011 prices will be. Certainly not lower. For comparison, in the early 1960s a standard blue steel Colt M1911 sold for around $60. But by the …

Countrywide’s Errors Could Cost Bank of America Billions How Bad Could Ireland Get? Iceland Offers Some Clues    Goldseek posted some commentary from Darryl Robert Schoon: Betting In The Endgame Items from The Economatrix: The Horrible Truth Starts To Dawn On Europe’s Leaders   Bullets In The Back: How Boomers & Retirees Will Become Bailout Bailout, Stimulus and Currency War Casualties   Economy Sees Growth, But Unemployment Stays High   Korean Conflict, European Worries Weigh On Stocks  

Roberta X provided a link to the USA National Gas Price Heat Map. You will note that some divisions in price ranges follow state lines. These are created by differences in state gas taxes, rather than production and transportation costs. California is mostly mapped in red and Wyoming is mostly green because of what goes on inside state capitols rather than what goes on in oil fields and refineries. And it is no coincidence that the states with the big, pretentious, and intrusive governments are in the midst of budget crises. (California, for example is nearing default.) These same states …

Deborah B. mentioned that the awesome collection of charts at the National Inflation Association site have been updated. John H. mentioned a newsletter PDF: The Rising Frustration With The Debt Crisis by the imprisoned economist Martin A. Armstrong. His newsletters are produced in his prison cell. Here is a quote from his latest newsletter: “We are rapidly crossing the point of no return….So, either we face the reality of a completely new economic model or we hang up everything now.” Items from The Economatrix: Ireland Denies “Surrendering Sovereignty” Over Bail-out   Economic Implosion Sets the Blame Game in Motion   …

Brett G. sent this: Fed Warns of 4.25 Million More Foreclosures Through 2012 From Russia Expert, a Gloomy Outlook. (Thanks to Siggy for the link.) P.D. flagged: Tent Cities, Homelessness and Soul-Crushing Despair: The Legacy of Decades of Government Debt and Mismanagement of the Economy Inyokern highlighted this one: Ireland fears civil unrest as bank crisis deepens Items from The Economatrix: Home Prices Will Keep Falling   Job Seekers Find Bias Against Unemployed   Jobless Benefits Cost So Far:  $319 Billion US Banks Insolvent If They Face Loan Losses   What’s Really Behind QE2?   ECB Tightens Screws on Ireland, …

Brace yourself for more high inflation, Mervyn King tells George Osborne. $4.00 Gasoline By The End Of 2010?   Our friend Fred C. sent this: “Riceland brand rice in 50 pound bags at my local Sam’s Club in Arkansas was $13.95 in July. Then it jumped to $14.60 in late September. Last night I noticed that the pallet with Riceland rice bags on it had 25 pound bags instead of 50 pound bags, and they were priced at $8.95 each. (The equivalent of $17.90 per 50 pounds.) Gap, Wal-Mart Clothing Costs Rise on `Terrifying’ Cotton Prices China to subsidize food …