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A big bank here just limited the purchases of gold to 25 ounces per family (not even per person!) to avoid 'speculation' so they say. Sad state of affairs really.

http://market-ticker.denninger.net/ If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today. It appears that the German Government has just plain had enough of the crap that the banksters...

You have to understand, the European banking system is totally interconected as a siamese twin. Add to that the fact savingsrate in most of Western Europe stands between 15% and 20% and you know why banks have everyone and everything by the balls. Germany guarantees every single penny of...

Hugh Hendry recently stated he could start to believe in inflation when governments would start to ban shortselling as one of the catalysts.

Mon, May 3 2010BERLIN, May 18 (Reuters) - German Finance Minister Wolfgang Schaeuble plans to ban short-selling from midnight, coalition sources told Reuters on Tuesday http://www.reuters.com/article/idUSBAT00546220100518 Let's see if there is any truth in this.:)

Good post. I would like to add it's not that uncommon for paper currencies to come under severe distress during certain cycles in society. France, which has a standard of living quite high these days according to most international reports, defaulted on it's debt 7 times these last 400...

How do you think JP would define gold today?

"Gold is money and nothing else." JP Morgan 1912

The US should allow California to default and provide a bottom to the Euro fall.

George Soros on Bubbles: 'When I see a bubble forming I rush in to buy, adding fuel to the fire.' http://blogs.ft.com/money-supply/2009/11/02/introducing-the-theory-of-reflexivity/

That's what they said 3 years ago.

You think the Euro has some rally potential here? I have rarelly witnessed such bearish sentiment on anything really comparable to the darkest hours of 08 where pundits were convinced all banks would be government owned within 24 hours.

The price of gold hit record highs over the week of May 10-14, attracting the attention of many retail investors. But this precious metal is no safe haven. As an investment, gold has never been more popular. And, for individual investors, that's part of the problem. Encouraged by TV and...

The US could save the Euro by allowing a couple of states to default. That should take some pressure of the Euro.

The Euro is the 2nd most issued currency in the world accounting for about 30% of all foreign reserves. If you want to disregard it's weakness versus gold as irrelevant be my guest. By the way, nice sell off in USD gold as well yesterday. This 0.10% drop is bound to make a few longs...

You can read Rogers take on the IMF here: Abolish the IFM and the World Bank! http://www.beeland.com/abolish_the_ifm_and_the_world_ba.htm (I've had some acces problems with the safety of this site so be sure you have anti virus before you enter, it seems fixed now but still...)

Jim Rogers said many times the IMF will go bankrupt and its actually a good thing.

How about the ECB raising rates to defend the Euro...

'We have created a new 10000 Trillion Dollar rescue package to calm the markets.'

It's up in Euro's.