The Gold Economy

Mark O’Byrne submits:

Gold

Gold is marginally lower and threading water in most currencies today with markets subdued as the London Stock Exchange and Wall Street are closed for national holidays. It range traded from $1,210/oz to $1,214/oz in Asian and early European trading this morning. Gold is currently trading at $1,213/oz and in euro, GBP, CHF, and JPY terms, at €987/oz, £837/oz, CHF 1,043.64/oz, JPY 110,897/oz respectively.

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Donald Ingram submits:

The U.S. private sector corporate debt, mainly held in risky junk bonds at approximately $1.4 trillion, is facing the daunting task of being repaid or rolled over. Loans that were made during 2005/2007 and that are now coming due. The main problem being the underlying asset collateral has no, or vastly reduced, perceived value except in the minds of those who are continuing the fantasy of mark to make believe.

Compounding this looming problem is the added sovereign debt at risk, starting with Iceland in 2008, then moving to Latvia, Ireland, Dubai in 2009, and now Greece. This wave… Continue reading

Moses Kim submits:

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Tim Iacono submits:

It’s been a while (one hundred days, to be to be exact), but the Wall Street Journal published another in a long running series of sound money commentaries by Money Meltdown author Judy Shelton the other day. Titled The Recovery Starts with Sound Money, just like all the others, this one is sure to be ignored by anyone in the general vicinity of Washington D.C. or any of the regional Federal Reserve offices.