Steve Jobs and the Beauty of Capitalism

Below is an article from Jeffrey Tucker of the Von Mises Institute paying homage to Steve Jobs and the beauty of capitalism.  Steve Jobs was a true visionary who will be sorely missed. 

 

http://mises.org/daily/5613/Steve-Jobs-and-the-Beautification-of-Capitalism

Another Currency Disapointment

Several weeks ago, during a seminar, I mentioned that the Swiss Franc was probably in the best shape of all the currencies in circulation because of its particulary vigilant Central Bank.  However, the Swiss National Bank has recently decided to peg the Swiss Franc to the Euro, thus leading to a devaluation.  The world's last safe haven currency is no more. 

 

Please read below.

 

http://www.fgmr.com/swiss-national-bank-gives-up.html

 

Respectfully,

Jena

Gold Falls After Central Bank Intervention

The latest news of the central banks intervention by way of injecting dollars into the banking system has caused gold to fall to $1775.  This has given equities a boost, and as a result investors are steering away from traditional safe-havens like gold. 

 

However, I believe this drop in gold is merely a hasty reaction to the news.  In the longterm, this could have an inflationary outcome, which of course, would be bullish for gold.   

 

 

 

http://www.marketwatch.com/story/gold-drops-below-1800-after-central-bank-move-2011-09-15

Headlines from the United Kingdom

Here in the United Kingdom, my hotel provides a complimentary edition of the morning paper, The Independent.  As I was perusing it this morning over breakfast, several headlines caught my eye, mainly those concerning the debt ceiling crisis in the United States, and the ever oppressing austerity measures imposed by the reigning party in the United Kingdom.  Here is a sampling of some of the headlines from today's The Independent newspaper.

 

Any Reduction in America's Credit Rating Will Affect Every Person In The Planet

 

Unions Threaten An Autumn of Discontent

 

Prepare For University Places Chaos, Admission Chief Warns

 

UK Set for Low Growth as the Mood Darkens

 

However, one writer looks past the doom and gloom of the economic downturn by looking at today's challenges with an alternative point of view.  Mary Ann Seighart, in her article entitled Ideas for the Age of Austerity, writes of the certain satisfaction one can achieve by making money go further.  Gone are the days of excesses, overspending, and chasing after the latest fashion.  It can feel liberating to let go of such things.  Although this is somewhat of a 'forced austerity', perhaps this is a way of teaching responsibility to our collective global society.  Yes, the economic forecast is indeed dire, but we must adjust our expectations accordingly and accept the fact that our days of prosperity are over.  Ms. Sieghart's article is linked below.

 

http://www.independent.co.uk/opinion/commentators/mary-ann-sieghart/mary-ann-sieghart-how-austerity-is-changing-us-2329615.html

Bankruptcy Threatens Our Municipalities

Central Falls, Rhode Island may face bankruptcy if police and firefighter retirees won't agree to give up 50% of their pension.  Unfortunately, this seems like a harbinger of things to come. 

Below are two articles about the sad state of Central Falls. 

 

 

http://dailyreckoning.com/bankruptcy-from-greece-to-rhode-island/

 

http://articles.cnn.com/2011-07-21/us/rhode.island.pensioners_1_retirees-pensions-social-security-benefits?_s=PM:US

 

 

Gold Is Still Moving Right Along

Despite the fact that summertime is usually a weak time for gold, it shows no evidence of slowing down. 

 

http://www.guildinvestment.com/2011/07/21/more-fuel-for-the-gold-rush-of-2011/

Deflation and the Gold Price Trajectory

Bill Bonner, frequent contributor to the Daily Reckoning website, predicts gold is going to go much, much higher, but not before a brief deflationary period. Also, Mr. Bonner cites an article from the NYT which concerns another crisis we'll confront when funding runs out for jobless benefits, etc.     

 

http://dailyreckoning.com/deflation-and-the-gold-price-trajectory/

Ron Paul to Ben Bernanke: Is Gold Money?

Yesterday, an awkward moment between Ron Paul and Ben Bernanke occurred as Paul asked Bernanke a blunt and direct question:  Is gold money?  Below is an article from the New York Sun recapping this exchange. Also included is a video clip.

 

http://www.nysun.com/editorials/when-gold-isnt-money/87421/ 

Gold Rises to a New Lifetime High

Amid concerns of the threat of additional quantitative easing, the downgrade of Irish debt, and the continual loose monetary policy, gold has reached an all time high.  At this moment, on July 13th, gold has climbed to a new record of $1586.00 per ounce.

 

Yesterday, Trader Dan Norcini wrote that gold had indeed broken out and was poised to take on its all time high. 

 

http://traderdannorcini.blogspot.com/2011/07/gold-breaks-out-ready-to-take-on-its.html   

How To Deal With a Flash Mob

As I'm about to embark on another trip to the United Kingdom soon, I've been warned to look out for rioting and mobs in London.  Although there have already been many protests there that have turned violent, they've seemed to happen between my trips over there. Yes, so far I've been fortunate.  However, I'm always vigilant, but as the economic climate continues to become more grim, it's best to be prepared for any eventuality.  Austerity measures and budget cuts continue to remain unpopular within many European countries, and these general feelings of discontent and unrest can quickly escalate into violence and mobs running out of control.  Furthermore, social networks make it easier for people to organize themselves quickly into a rabble intent on destruction and hostility.  

 

Not only have there been riots in Greece, England, and Egypt, but there is more and more evidence of this happening here in the United States.  Recently, alarming mob activity has happened in Peoria, Illinois, and Philadelphia.  Fernando Ferfal Aguirre, who authored a book called Surviving the Economic Collapse, addresses these events on his blog in the link provided below.  Mr. Aguirre, who lived through the economic collapse in Argentina, provides some very helpful tips on how to protect yourself against a flash mob.  This is well-worth reading, especially for those who live in or travel to major metropolis areas.

 

Jena Eison 

 

http://www.themodernsurvivalist.com/?p=1439