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June 10, 2011 / Hal (GT)

It’s Friday! Don’t trample anyone on the rush out the door.


Friday looks to me like a precious metals take down kind of day. Lear Capital’s ExactPrice widget is currently showing gold’s spot price at $1,532.10. Not the low of the day, but not far off and it looks to be heading lower into the close.

Silver is at $36.19. A number of folk I’ve seen today think it looks fishy. Time will tell.

In the mean time, here are the links I gathered today.

Gold meanwhile, continues to move up in a classic bullish channel. From Peter Grandich. Worth reading and see the graph.

China ratings house says US defaulting: report <- I understand the thinking here but to me this is more a shaking of the tree to see what falls out.

Eric Sprott – We’re Headed Over a Cliff, Be Wary of Paper Assets <- I’ve been wary for a number of years now. Nothing has changed. But he’s right, I believe.

Meet The Squatters: Here Are The Millions Of Americans Who Live Mortgage-Free For Up To 5 Years And Counting <- thanks to @JWnFL for the heads up on this.

This tweet for Laura Gross is worth checking out:

Tragic Loss of Our Middle Class: “Few understand physical #gold is real money” – http://ow.ly/5eRIL

Ed Steer’s Gold and Silver daily is always a stop for me, and I would suggest it for you too. In today’s post, Fed Managing ‘Orderly’ Rise In Gold: Jim Rickards, there is this very telling graph

“The Devaluation Against Gold Is The Inflation“ <- great interview with James G. Rickards.

A perfect, three-stage Cartel raid of the gold Comex. <- Turd Ferguson has some thoughts on today’s COMEX action.

Silver in China could turn out to be the new gold<- I will re-iterate something I’ve noted in the past. China’s culture is geared toward silver in a big way when it comes to seeing this metal as currency.

Gold Bulls: Sluggish and Tired For Now <- Analysis from Kira McCaffrey Brecht

The Global Shift in Capital <- Expected Returns is a frequent read of mine. Here’s a snippet from Moses’s post:

Now we are faced with a debt crisis that is going to hobble us for years. While we pick up the pieces, Asia will pass us by. When this happens, Americans have a choice: we can either sulk about lower wages abroad or we can strive to compete globally. The world is changing so quickly and there is no time for complacency.

Don’t stick around for the third and final step….. <- Dollar destruction.

Roger Wiegand: Gold Rally Only Beginning

The Bankruptcy of Corporate America <- I can’t say I disagree:

Corporate America is bankrupt on levels which are difficult to describe; morally and spiritually bankrupt, not just in the pathologies that guide corporate goals and behaviors, but in the Potemkin shell of free enterprise they present to the world in ceaseless propaganda, and in the manner in which they have cut America loose from their corporate souls.

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