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:
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.
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.
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.