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.
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.
Blogs
(new) Louis James: Doug Casey - We're exiting the eye of the storm (Aug 18)
> "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)
> Charts Silver daily | Gold-Silver ratio monthly
(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
> 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) What QE3 will look like (Aug 18)
(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)
King World News: Eric Sprott: Price of silver should be $110 to $120 today (Aug 18)
King World News: Ben Davies: Expect $2,100 gold by end of December (Aug 18)
voxOnox: Did Chavez just spark Gold Powder Keg? (Aug 18)
Zero Hedge: Cue panic as Fed lends $200 million to Swiss National Bank (Aug 18)
Turd Ferguson: (am) Like clockwork (Aug 18)
SGS: Sprott selling gold, buying silver now (Aug 18)
Zero Hedge: Homes have never been more affordable (with one footnote) (Aug 18)
Endless Mountain: The Silver Blog (Aug 18)
Michael McKay: Don't swallow the Fed's $16 trillion suicide pill (Aug 18)
SGTbull07: World markets melt, silver holds, gold explodes - the people awaken? (Aug 18)
Vedran Vuk/Bud Conrad: Is QE3 already in the works? (Aug 18)
Tom Cullis: Why market will fight Fed on gold (Aug 18)
J.W. Jones: Are gold and S&P 500 behaving logically or irrationally? (Aug 18)
SGS: Is Venezuela getting ready for TSTHTF? (Aug 17)
Gary Vermeulen: Gold, stocks to move in opposite directions (Aug 17)
Zig Lambo: Frank Holmes: Gold fighting for deflation, not inflation (Aug 17)
Golden Truth: High crimes at SEC: Time to fire and prosecute Mary Shapiro (Aug 17)
Harvey Organ: Gold hits record close at Comex (Aug 17)
Gary North: Too many emergency meetings in Europe (Aug 16)
Egon von Greyerz: Too late to jump on the goldwagon? (Aug 15)
Vlogs
(new) Bull or Bear Report: Gold +$47! Whaat? Loss in confidence crash (Aug 19)
(new) Realist News: Eric Sprott dumping some gold to buy silver? Yes (Aug 18)
(new) bigdad06: American Jedi! (Aug 18)
(new) WE Pollock: Global breakdown crisis - From extremity to core (Aug 18)
Realist News: Chavez wants his gold from US, England (Aug 18)
LibertarianRealist: Physical precious metals beat Wall Street's scammy ETFs (Aug 18)
LibertarianRealist: Physical precious metals beat Wall Street's scammy ETFs (Aug 18)
Sean Brodrick: Silver's next surge (Aug 18)
ScrapGoldBusiness: Something big is going on - financial panic? (Aug 18)
Christopher Greene: 'Buy the dip' if you want to lose your life savings! (Aug 18)
Pastor Dowell: Gold is right on the heels of platinum! (Aug 18)
Pastor Dowell: Fractional reserve banking understanding (Aug 18)
Al Korelin: Marshall Berol sees gold stocks lagging behind spot (Aug 18)
Al Korelin: In the field: Majestic Gold's new China mill (Aug 18)
New World Next Week: Kids for cash, flash robs (Aug 18)
Hit the Bid: Stock market has been broken. Ron Paul for prez (Aug 18)
stowmaker1945: Chavez to nationalize gold industry, withdraw gold reserves from US (Aug 18)
Endless Mountain: The Silver Log - Dow project, inflation, price update (Aug 18)
New World Next Week: Kids for cash, flash robs (Aug 18)
Hit the Bid: Stock market has been broken. Ron Paul for prez (Aug 18)
stowmaker1945: Chavez to nationalize gold industry, withdraw gold reserves from US (Aug 18)
Endless Mountain: The Silver Log - Dow project, inflation, price update (Aug 18)
quietman1k: House of Rothschild vs. US Presidents (Aug 18)
(new*) Reggie Middleton: Potential of a Euro banking crisis (Apr 14)
> Worth another look
Blog commentary
The Vet: Why the JPM COMEX silver scam will last forever (Aug 18)
Juan Moment: [Silver] It truly is coming (Aug 18)
Juan Moment: Silver v JPM share price (Aug 18)
Audio
(new) Wide Awake Radio: Stock Market Crash 2011 & Bank Runs (Aug 18)
Peter Schiff: All the fools are buying Treasuries (Aug 18)
Peter Schiff: All the fools are buying Treasuries (Aug 18)
King World News: Bill Fleckenstein (Aug 17)
Peter Schiff: Hyperinflation, gold and the true economy (Aug 16)
Reports
CNBC: Is this Lehman again? No, but it sure feels like it (Aug 18)
CNBC: Behind the selloff: Stocks are pricing in 'worst-case scenario' (Aug 18)
CNBC: HP offers to buy autonomy, outlook disappoints (Aug 18)
CNBC: Is this Lehman again? No, but it sure feels like it (Aug 18)
CNBC: Behind the selloff: Stocks are pricing in 'worst-case scenario' (Aug 18)
CNBC: HP offers to buy autonomy, outlook disappoints (Aug 18)
Business Insider: Markets demolished (Aug 18)
Ekathimerini: Austria kicks up fuss about Finnish collateral deal with Greece (Aug 18)
CNBC: World Gold Council: Demand still strong - but changing (Aug 18)
WSJ: Fed eyes European banks (Aug 18)
Natural News: FDA pushing to allow paid drug company shills to fill advisory positions (Aug 18)
Business Insider: Things in Europe are so bad, junior bankers must fly coach (Aug 18)
Globe & Mail: Think gold may lose some lustre? Eric Sprott sees a silver lining (Aug 17)
Guardian: If Assad falls, the region's alliances unravel (Apr 11)
Video
Alex Jones: Max Keiser: 4th Reich theory (Aug 18)
Kevin Gallagher: Bob Chapman (Aug 18)
Keiser Report: Crimogenic UK (Aug 18)Fox: Schiff: The worst is yet to come for markets (Aug 17)
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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