Central Banks Leading New Gold Rush

Russia, India, Saudi Arabia and the Philippines follow Soros and Paulson into the metal.

So far in 2010 Russia has increased its gold holdings by 2.8 million ounces, $3.6 billion at current prices. Total holdings by the Putin government total almost $30 billion. Saudi Arabia and the Philippines have disclosed new gold buying in 2010, plus India, Sri Lanka and Mauritius bought gold in 2009.

http://www.forbes.com/2010/09/10/barrick-gold-mining-markets-china-india.html?feed=rss_business_commerce

The Muni Bond Crisis Has Officially Begun

This is just the beginning. Collectively US states continue to face massive budget short-falls in spite of massive Federal Aid. According to the Center on Budget and Policy Priorities, US states are expected to run deficits of $144 billion and $119 billion in FYs 2011 and 2012 respectively, unless they can cut spending further or raise taxes dramatically to close these gaps.

Remember, the muni bond market is $2-3 trillion in size, so we’re not talking about a minor issue here.

http://www.kitco.com/ind/Summers/sept092010.html

Nervous Americans want easy access to their cash

People are bailing out of bank certificates of deposit and parking their cash in checking and savings accounts that earn little or no interest but also don't exact penalties for early withdrawal.

It's another signal of how nervous Americans are about their finances as the U.S. economy struggles. Consumers are stuck with few options to make their money work. The Standard & Poor's 500 is down 0.5 percent for the year, one big reason why people have pulled a net $145.3 billion out of mutual funds in the first eight months of the year, according to Lipper Inc.

http://seattletimes.nwsource.com/html/businesstechnology/2012861707_apuscashjitters.html

Silver at $21 an ounce this September

Soon after briefly touching a nearly 30-month high of $20.04 an ounce early in the trading session Tuesday, silver dipped as low as $19.68. The white metal managed to make a bid back up to its earlier highs, scratching $19.90 before falling back down to a close of $19.82 an ounce on the COMEX.

http://silverinvestingnews.com/4082/silver-at-21-an-ounce-this-september.html

Confiscation of Private Retirement Accounts: US Departments of Labor and Treasury Schedule Hearing

On August 26, the US Department of Labor issued a news release:

It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.” The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration. I don’t like speaking in tabloid-style terms, but the unstated agenda of these hearings, as I understand it, is to push for the US government to eventually nationalize (confiscate) all assets in private Individual Retirement Accounts (IRAs) and 401K plans!

http://www.libertynewsonline.com/article_301_29362.php

5 Doomsday Scenarios for the U.S. Economy

1. Housing's Mini-Bubble Pops
2. You Break the Economy
3. Toxic Assets Return
4. Europe Falls Apart
5. Debt Finally Catches Up to Us

http://finance.yahoo.com/family-home/article/110581/5-doomsday-scenarios-for-the-us-economy

How Hyperinflationary Hell – and Commodity Heaven – Will Happen (Before the End of 2011!)

How Hyperinflation Will Happen---enlightning list:

http://www.munknee.com/2010/08/how-hyperinflationary-hell-and-commodity-heaven-will-happen-before-the-end-of-2011/

Gold Will Go To $5,000 and the Dow To Above 27,000 by 2015

A MIX of good and bad news...VERY OPTIMISTIC...

http://www.munknee.com/2010/08/gold-will-go-to-5000-and-the-dow-to-above-27000-by-2015/

More than 400 US Banks Will Fail: Roubini

Even if the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the "critical list" are likely to go bust, according to renowned economist Nouriel Roubini of Roubini Global Economics.

http://www.cnbc.com/id/38986777