Frequent content contributor Cheryl N. flagged an article at WorldNetDaily: 1930s Bank Runs Are Back. Speaking of banks, a recent Market Oracle article notes that Wachovia will soon close its wholesale lending unit and henceforth will lend only to bank customers, not brokers. Meanwhile, Bank of America’s purchase of Countrywide that supposed to close this quarter may not happen after all. B of A says it will not guarantee the Countrywide debt.
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The latest from Ultra Nanny State Britannia: Now there are 1,000 laws that will let the state into your home
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Matt in Tennessee recommends checking out this energy plan from a Big Oil Baron, T. Boone Pickens. As has been the case, irony aside, the oil people have been the first in the renewables market. Anyway, this plan is most revealing and is on a huge or macro scale what you propose and promote on an individual or micro scale. Good stuff!
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In his most recent e-letter, veteran economist Howard J. Ruff recommends divesting from precious metals exchange traded fund (ETF) investments and substituting physical metals that are held in your personal possession. He cites some shady business practices by Barclays, the owners of the Silver ETF (SLV), in particular, as cause for concern. It seems that there is not nearly 1-for-1 equivalent storage of physical ounces of silver versus electronic shares. I strongly concur that there is no substitute for having tangible precious metals stored securely at home, preferably in a hidden wall or door cache. (Such as a Rawles “Through the Looking Glass” cache.) OBTW, in anticipation of the unlikely event of a home invasion burglary, you should store a smaller quantity of silver coins in a separate cache, so that you can “toss a bone” if the bad guys hold a gun to your head.