Suspension of postings

Dear Readers,

I am sorry that I am currently unable to continue posting.  Serious demands are now being made of my time, which has unfortunately pushed this free service down in the priority stack.  I thank you all for your kind support, emails and comments.  I look forward to returning as soon as I can.

with kind regards,
Nils.

Gold price suppression easier than Libor manipulation.

The total amount of gold ever mined from this planet is approximately 160 thousand tons:  nine trillion dollars worth. Libor manipulation affected at least 800 trillion dollars worth of investment products.

Repetition of MF Global failure

See "For investors and customers, PFG is MF Global all over again...".  Trust in the US financial system, and in segregated investor accounts, is further eroded.  See also "Penson brokerage warning" and "Don't let another MF Global ruin you".

Steve Keen on solving debt crisis

Steve Keen explains how elimination of debt is needed to solve the financial crisis, in this RT.com interview:  Keen proposes that it would be better to inject stimulus funds into individuals to reduce their debt, instead of into financial institutions which are not lending those funds.

Gold's importance might be promoted

The Bank of International Settlements (BIS) is considering upgrading gold's status as a capital asset from tier three to tier one.  See Peter Krauth's article, which I acknowledge.

Gold is eternally reliable money

Gold wire spirals stored wealth 3300 years ago.  See "Massive gold trove sparks archeologicial dispute" (sic), from Der Spiegel.

Keynesian economics self destructs

Many people, in their hearts, know that the solution to too much long term unsustainable debt is not to spend more.

A strong case for Greek default

The documentary "Hot spots:  Greece"offers the best argument for allowing Greece to default that I have seen. 

European Union unfit to oversee unified banking union

Greece hid their true level of debt to join the euro currency zone.  European Union authorities accepted Greece's application despite hidden Greek debt.

JP Morgan no longer distinguishes speculation from hedging

JP Morgan no longer recognises the difference between hedging and speculating.  Poor US taxpayers thus back JP Morgan's market speculation.