Category: Economics & Investing

Sir: I was wondering if you could tell me if it would be wise to buy pre-’65 [United States] silver coins, as I live in Canada. Do you think people would understand their value here? Also, any idea where I would get them? I am not having much luck with Internet searches. Thanks for your time. – Kirk in Canada JWR Replies: To be sure that they are recognizable for barter, you should buy the equivalent Canadian mint circulated coins. These available at your local coin shop. Ask for well-worn “junk” coins that don’t have a numismatic premium price. For …

Jon M. was the first of several readers to send this: Global employment crisis will stir social unrest, warns UN agency Reader M.E.W. forwarded this: Foreclosures sell at 26% discount Danny B. sent us this: Bad Spending Habits, Lack Of Savings Leave Consumers And Baby Boomers In Financial Crisis Thanks to Susan H. for sending this: How risky are uninsured bank deposits? Items from The Economatrix: Peak Gold Is Upon Us Buy Gold Young Man, Buy Gold Economy Gets Lift From Government Aid More FDIC Friday Follies: Regulators Close Small Florida, Washington Banks Aging Work Force Inspires Utility Worker Training

Is The Federal Reserve Out Of Control? Markets Around The World Brace For Impact As The Federal Reserve Powers Up The Printing Presses Reader A.S.W. notes: “I just returned from a Sam’s Club warehouse store in Florida. Their Maker’s Mark brand of toilet paper went up $3 per package. A week ago it was $14 now it is $17. And regarding sugar, the shelves at Wal-Mart and the Aldi [supermarket] were wiped out so I had to get a 50 pound bag at Sam’s. This also went up $3. a week ago it was $25 now it is $28.”s Puru …

Jon M. in England sent this: Are we heading for a replay of 1930s? Agoura Hills and a $280,000 discount on a once million dollar home. B.B. sent this one: 1099 Supply Shock for Gold Buyers. Perhaps its time to switch to fractional gold bullion coins, and VF slabbed $5 and $10 gold pieces. Steven B. forwarded this: Chinese Economy Next Enron: Chanos video Jim Rogers: Gold to Soar to $2,000 an Ounce in Decade. (Thanks to Brett G. for the link.) Mike H. flagged this: House passes bill aimed at Chinese currency. “How dare they free-float their currency? The …

G.G. sent this: Capital controls eyed as global currency wars escalate Reader Danny B. forwarded this: Citi sued by Norwegian central bank Michigan, Florida Lead 34 States With Drop in Household Income Meredith Whitney’s new target: The states David S. suggested this: Politics Versus Gold Items from The Economatrix: World Gripped by “International Currency War” How Realistic is $5,000 Gold? Faber: Accumulate Gold and Keep it as Cash “Gold To Go” Taps into Gold Fever with ATMs Stocks Sizzled in Third Quarter, But Will it Last? Jobless Benefit Applications Drop to 453,000

Norman A. was the first of several readers to mention this: Ben Davies – The World Monetary Earthquake. Here is a quote: “Within a single week 25 nations have deliberately slashed the values of their currencies. Nothing quite comparable with this has ever happened before in the history of the world. This world monetary earthquake will carry many lessons.” B.B. sent this: U.S. Mint says it has run out of Buffalo gold coins Fred D. flagged this: Is Gold Going up or is it Just the Dollar Going Down? Job Experts Lose Jobs! (A hat tip to Jim P. for …

H.H. sent this: European Central Banks Halt Gold Sales Jeff E. was the first of several readers to send this: Banks Keep Failing, No End in Sight From G.G.: Banks Keep Failing, No End in Sight U.S. Economy “Close to a destructive tipping point” Glenn Hubbard Says. (Thanks to John G. for the link.) Merry recommended a Mike Maloney lecture video. Items from The Economatrix: Cold Hard Reality Hits Oregon Supply Squeeze of Physical Gold and Silver May Be Heating Up The Currency Crisis of 2010-2011 A Hazard of Buying Bond Funds Now A Red Alert Threat To The Regime …

KAF pointed us to this: On the Secret Committee to Save the Euro, a Dangerous Divide Mike Williamson sent us this: Slideshow: The Most Taxed States in the U.S. G.G. suggested: Taleb Says Unawareness of Deficit Risk Has Him `Extremely Bearish’ on U.S. The latest from Dr. Housing Bubble: Palms Mar Vista correction. From $740,000 to $540,000 and still overpriced. The Westside of L.A. enters an accelerating correction. Items from The Economatrix: Why QE2 + QE Lite Mean that the Fed Will Purchase Almost $3 Trillion Treasurys and Set the Stage for the Monetary Endgame Banks Keep Failing, No End …

More, more, more MOAB: Bernanke Says U.S. Economic Growth Too Slow Even With Fed Bond Purchases. Gee, if the Fed just buys lots and lots of stocks and bonds, we’ll all be multi-trillionaiares, just like those wealthy Zimbabweans. SurvivalBlog’s Editor at Large Michael Z. Williamson sent this from Zero Hedge: Debunking The Great Myth Of US Consumer Deleveraging, Or Why The US Economy Will End Not With A Whimper But A Bang K.T. mentioned: 15 Bone Chilling Signs That Part Two Of The Double Dip Housing Crash Has Begun Revisiting option ARM data – Bank of America, Wells Fargo, and …

Unemployment Could Remain High Until 2013. JWR Adds: To be more accurate, I would have written: “…Until 2023.” Yale Economist Robert Shiller Warns Seven Years of Economic ‘Bad Times’ in Store for US L.J. sent some more bad news from England: Mortgage lending plummets to 10-year monthly low as housing market remains ‘exceptionally’ weak. From the Wall Street Journal‘s Australian bureau: Silver looks ready to rip. (Thanks to Bob G. for the link.) Russian crop misery spreads to world’s supermarkets. Items from The Economatrix: California Attorney General Asks GMAC to Stop Foreclosures Economy Heading Toward “Catastrophic” Collapse They Are Printing …

The Reality of Inflation Food Inflation: Coming to the USA? Interview: Dr. Marc Faber on the Federal Reserve and Hyperinflation Larry T. sent us this bit of stupidity: In Praise of Inflation. Our Editor at Large Mike Williamson sent this photo link: Those incredible shrinking paper towel packages. Get Ready to Pay More for Tires

B.B. sent this article about the latest $30 Billion expansion to the MOAB: U.S. Bails Out Major Credit Unions Sherman Oaks enters correction phase. $1,200,000 home now selling for $720,000. Tamara (over at the excellent View From The Porch blog) posted a link to an amazing video that shows a labor union hiring minimum wage non-union protestors to picket Wal-Mart for paying minimum wage and being non-union. Warren Buffett: We’re Still in a Recession Despite What Officials Say. (Thanks to Brett G. for the link.) KAF sent this: China Allows Banks to Sell Loans on Interbank Market; 21 Lenders Sign …