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July 5, 2011 / Hal (GT)

Precious metals start week in strength.


Since markets opened Sunday night Gold and Silver have been declaring strength. This morning they showed it. Right now ExactPrice is showing gold at $1,515.90 and silver is at $35.56 on it’s way to $36.

Jim Sinclair had this to say about the action today:

The summation of today in gold is that it certainly looks like $1650 is much too low for a realistic price objective.

This video has been making the rounds:

Boomers need to prepare for the 3-D hurricane <- ht to Peter Grandich. This is an interesting read. Essentially things are unsustainable in our country.

Down on the Fourth of July: the United States of gloom <- This is an interesting read. There’s some statistics that left me wondering. It doesn’t paint a good outlook by Americans.

7 reasons U.S. needs a Good Depression now <- It’s a commentary. I agree. In fact I’ve been saying the same thing since before 2008 in regard to facing our problems instead of kicking them down the road. Here’s a snippet:

No, do not raise the debt-ceiling. You heard me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A debt addict. Time to detox. Deal with the collateral damage before it’s too late.

Got Physical Silver? <- Laura Gross twittered this article and it just reminds me again how amazing silver is and how important it continues to become to our tech centered world.

Theater Of The Absurd: Greece Has Already Missed Its June Budget Target <- Also from Laura’s feed. Does this really surprise anyone?

Gold a lifeboat which will not be sunk <- Good info.

Asian “bargain hunters” boost gold, German court told Greek bailout “economically wrong” <- I was watching the Asian market open up Sunday night with ExactPrice and this was obvious.

The Surprising Truth about the Volatility of Gold & Silver Mining Stocks <- this in an intriguing read.

Turk – Commencement of QE3 to Send the Dollar Into Oblivion

If the Dollar Were Backed by Gold An Ounce Would be Just Under $10,000

Now Playing: Cognitive Dissonance and Wishful Thinking <- Interesting read.

Bon Voyage to QE 2, Hello QE 2.5! (not really, if you like your currency to be strong!) <- From Eric Harding on Lear Capital’s great blog:

Fed’s purchases over the next year will likely be at least $300 billion. That’s half the size of QE2 — even if QE3 never takes place. Think of it as QE2.5.”

Zimbabwean Workers: Chinese Companies ‘Take Us As Slaves’ <- looks like China is in for some employment pain.

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