Interesting Stuff

By Cees Quirijns • March 5th, 2009

After briefly touching $1000 gold has been hit hard, once again. This time around the metal also dropped in price against the euro and most other “fiat” currencies. So is this finally the end of the gold bull market? Nah, I don’t think so.

The banking system of Europe is at the edge of the abyss. A brief story by The Telegraph revealed this last week. The original was almost immediately deleted. A new version was substituted.

Gold has surged to an all-time high against the euro, sterling, and a string of Asian currencies on mounting concerns that global authorities are embarking on a “Zimbabwe-style” debasement of the international monetary system.

After a terrible performance last year, the Baltic Dry Index seems to have bottomed and shows signs of strength. This index of global raw-material shipping cost might provide an interesting clue: China (and other nations) might be making use of today’s low commodity prices to stock up.

Gross domestic product shrank an annualized 12.7 percent last quarter, the Cabinet Office said yesterday. The contraction was the most severe since the 1974 oil crisis and twice as bad as those in Europe or the U.S.

Hilarious video of Dutch private bankers singing out loud: ‘The Rabo is going to do it!’

Interesting stories from around the web

A convincing story that highlights the vulnerabilities of the European Union. Everybody who though this was just a U.S. crisis must have woken up by now. The world financial system is under severe attack and it looks like it’s ready to crumble any time.

Precious metals are still the place to be in these daunting circumstances. Although nothing goes up straight, dips in gold and silver are still worth buying.

For only $3700 a day, less than the cost of 1000 Lattes, you can help this guy survive