Thursday, August 18, 2011

Thursday cinema & library (updated 200 am HST)

10:47 am (Hawaii) As a nation, the American Dream was noble enough. It didn't work in reality. Families disintegrated. The broken home has become the norm with a 50% divorce rate. It was unattainable. In some twisted, unexpected way, we are being driven back to our roots. Families will open doors to relatives. Grandmothers will live with their grandchildren again. The lack of employment will force at least one parent to be home with the children, where making do will mean much more, and making dough will be literal rather than figurative.

I don't relish future austerity, but my guess is that many of us have gotten used to some form of frugality or another. If it means living on a farm and growing our own vegetables, raising our own food, is that such a bad way of life?

Update 2:30 pm (Hawaii) An amazing climb by gold in the Asian market. Gold hit a new high of 1834, now at 1832. Silver hanging in there at 40.74.

Update 7:17 pm (Hawaii) A few hours away from the world wide web and what happens? Asia has unleashed the dragon — the Golden Dragon. Spot is now $1,842/oz. Brother Turd Ferguson noted that crude is down, market futures are down and it looks like tomorrow might be a "bloodbath." I've come to expect the unexpected after all these years. I pondered re-opening a position in FAZ or AGQ earlier today. I guess what I should've been doing was adding more DGP! Not to be greedy or anything. No. Greed bad. Greed bad.

> "If the dollar is destroyed, all these people who were wise and frugal, they are going to be wiped out. They are going to be left with absolutely nothing. This is criminal — it's the stuff revolutions are made of. ... Prudence will drive people into buying more physical gold. Greed will drive people into gold stocks."
(new) Reggie Middleton: US bank risk stands woefully underappreciated!!! (Aug 18)
(new) Dan Norcini: Silver stuff (Aug 18)
(new) Harvey Organ: We are inches away from DEFCON (Aug 18)
> "Rumours were flying all over the place this morning. We heard that two Italian banks, Unicredit, the largest bank in Italy and Intesa bank were both insolvent."
(new) SGS: Nothing much to say really (Aug 18)
> "Silver ... Received a text today about an 11:00 am (Eastern) raid tomorrow."
(new) Turd Ferguson: Chugging forward (late night update) (Aug 18)
> Charts Gold Dec 8-hr | Silver Sept daily
(new) Bruce Krasting: The Fed bombed the market - I ask, 'Why?' (Aug 18)
(new) Tony Pallotta: It sure looks like 2008 (Aug 18)
> Chart 2008 vs. 2011
(new) Washington's Blog: Amazing science breakthroughs (Aug 18)
John Ellis: The Obama collapse accelerates (Aug 18)
Jesse's Cafe Americain: Gold daily, silver weekly charts (Aug 18)
Turd Ferguson: (am) Like clockwork (Aug 18)
Endless Mountain: The Silver Blog (Aug 18)
Vedran Vuk/Bud Conrad: Is QE3 already in the works? (Aug 18)
Gary Vermeulen: Gold, stocks to move in opposite directions (Aug 17)
Harvey Organ: Gold hits record close at Comex (Aug 17)
Egon von Greyerz: Too late to jump on the goldwagon? (Aug 15)

(new) Bull or Bear Report: Gold +$47! Whaat? Loss in confidence crash (Aug 19)
(new) bigdad06: American Jedi! (Aug 18)
Sean Brodrick: Silver's next surge (Aug 18)
(new*) Reggie Middleton: Potential of a Euro banking crisis (Apr 14)
> Worth another look

Blog commentary
Juan Moment: [Silver] It truly is coming (Aug 18)
Juan Moment: Silver v JPM share price (Aug 18)

(new) Wide Awake Radio: Stock Market Crash 2011 & Bank Runs (Aug 18)
Peter Schiff: All the fools are buying Treasuries (Aug 18)
King World News: Bill Fleckenstein (Aug 17)

Business Insider: Markets demolished (Aug 18)

Alex Jones: Max Keiser: 4th Reich theory (Aug 18)
Kevin Gallagher: Bob Chapman (Aug 18)
Keiser Report: Crimogenic UK (Aug 18)
RT: Coining terrorism (Aug 17)
CNBC: Cramer on Bear Stearns loan (Mar 14 2008)

Metal bling
SGS: Guest post: Now what? (Aug 18)

Cramer vs. Hobbs squabble
What's next? Boxing for Charity?

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