From Rick D.: Inflation Creates Run On Argentine Coins
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David in Israel, one of our foreign correspondents, and a rabbinical student sent us this comment: “It is interesting that you mention the shmita (the jubilee or yovel in Hebrew is a 49 year cycle where sold property is returned and slaves freed) a seven year cycle where all debts are forgiven, and at the end of the year that we let our fields lie fallow. The day of the 777.68 point Dow drop, the largest point drop in history, hit on the exact day that the shmita cycle and the year 5768 ended and all debts were forgiven. Whether coincidence or our Creator giving us a little wink, you will have to decide.”
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A hat tip to OSOM for this piece to add to the rather thin ‘Good News’ file: New developments in efficient solar power.
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The latest news and commentary from Cheryl N., our Economic Editor: Dow Sinks 514 As Recession Warnings Grow Louder — Oil Sinks To 16-Month Low ($66.75/barrel) — Fed To Pump $540 Billion More Liquidity — World Recession Likely Says [UK PM] Brown — Fed Tries To Prevent “Great Depression II” — Pound Tumbles as BoE Admits Recession — More Euro Banks May Fail Says IMF — 41 States Report Increased Monthly Job Losses — CDO Cuts Show $1 Trillion Corporate-Debt Bets Toxic — A Little Thing Called Inflation (The Mogambo Guru) — Asian Markets Down After US Rout; Nikkei Down 7%
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A comment from reader Mike: “I have secured a ‘mining claim’ in Washington state. It can be easily used as a retreat when TSHTF. The cost is $100 per year, [with a lease administered by] the BLM.” Mining claims have been mentioned a couple time before in SurvivalBlog, such as this letter, but we plan to cover this in greater detail soon.