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June 9, 2010 / Hal (GT)

Tracking today.


Okay. I’ve got a mess of links for you today that came across my desk in relation to the gold market. A very impressive day that saw a big jump and a big fall. Though as I am looking at the free desktop app ExactPrice, the yellow metal is currently rising higher again and is at $1,241.20.

This is a must view Chart from Dan Norcini: The Declining Trust In Paper Assets

Dan has more to say about that action today in gold here: Hourly Action In Gold From Trader Dan

The following two links I found via Peter Grandich’s blog, an absolute must follow site.

Have you wondered how much money we’re giving to bailout the Euro? US Cost Of Euro Bailout Will Only Be $100 Billion

More from this Louis Scatigna’s site: Laffer: Tax Hikes and the 2011 Economic Collapse

Eric King has a couple of things you must read: John Williams – Solvency Crisis

These notes were from John Williams today:

– 5.9% M3 Annual Decline Deepest Since Early-1930s Banking Crisis

– Post-World War II Record Drop in Inflation-Adjusted M3 Signals Intensifying Business Contraction

– Renewed Recession Will Set Stage for U.S. Solvency Crisis and Severe Inflation Threat

And: Global Trend Change!

You are about to read one of the single most important pieces of this year. China to be the engine of inflation going forward? From the NY Times, China helped many global companies lower costs and prices. “But this may be the beginning of the end of an era.”

David Engstrom at Lear Capital has two must reads: China Moves Again to Buy Gold

You probably won’t hear about it in the press as this latest move is a bit more clandestine than an outright purchase on the open market.  According to a Reuters report today, China is about to close a deal with Hugo Chavez to obtain proper permits to begin mining for gold in Venezuela.

Inflation Update from the Jim Rogers Camp

HRN: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

Jim Rogers: In my opinion, yes, of course it is.

You also should check out Casey’s Daily Dispatch: Just Dropped In to See What Condition My Condition Was In. It deals with debt.

And speaking of debt: U.S debt to rise to $19.6 trillion by 2015

June 8 (Reuters) – The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.

That’s it for today. Catch’ya later.

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