Which brings us back to why silver and gold are skyrocketing to the moon, with no end in sight. Silver blasted through the $45 level and went straight up to $46.20. Gold holding steady at $1505. But the show is just getting started - the globalized economy is now in such a flimflam downward perpetual spiral, that every and any move leads to the same exact outcome. You can see where this is going. Euros, Yen, Pounds, Dollars and Yuan are all in the same basket
Also out today, an excellent article (as always) on ZeroHedge is a must read on Pretend and Extend. If you don't inform yourself, the joke is on you.
And now, back to your regularly scheduled program...
It seems the Fukushima reactors are not the only things in Japan experiencing full meltdown. Reuters is reporting that Morgan Stanley is going to post a $1.7B loss for the year due to "bad bets." Guess
Speaking of boats, you may want to invest in a boat and flee to somewhere radioactive iodine and cesium 137 can't reach you, which according to the latest from Weather Online seems to be nowhere. The forecast for ground level cesium 137 is almost as alarming as the latest findings from the University of Nevada on soil samples taken from the base of the Sierra Nevada Mountains. You many want to put your sunglasses on when viewing the results. If true, Greece defaulting or the EU disintegrating over the weekend will be the least of our worries. This is now a global event on steroids. Xenon 133 for breakfast, anyone? Radioactive nucleotides are very dangerous to your health, no matter how many times you hear it's healthy for you.
It's good to know that there are citizens of this planet that do care about finding out the truth and informing others about the possible dangers. Forbes has a great article on citizens who are taking radiation monitoring into their own hands. After all, would you trust someone who claims to be a Nigerian prince with handling your bank account transactions?
Did you forget about Japan yet? TEPCO is sure hoping so, and just as expected, they are now releasing the real information that is both alarming yet obvious to those who have been keeping a tab on things over there. First up, TEPCO today admitted 520 tons of radioactive water leaked into the sea (not the 11 tons they initially stated). Be sure to read between the lines and then feel if your thyroid is swollen yet. Keep in mind, whatever official number they release, multiply that by a factor of 50 to get the more accurate figure.
Next up, TEPCO today admitted that the nuclear fuel "could be" melting "like lava." So, reading between the lines, nuclear fuel is melting, and has been melting for a long time. You can read more on ENE News.
Other than that, everything is just fine (and shiny). As a reminder, the markets are closed tomorrow and next week many global markets are on holiday schedule. If there is any big news to be announced, it probably will be announced at 3am on Sunday morning when everyone is sleeping. In the meantime, grab a good micro-brewed IPA beer from one of America's 1800 breweries and enjoy.