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. 
 
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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.
 
 
Respectfully,
Jena
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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.   
 
 
 
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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.
 
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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. 
 
 
 
 
 
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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. 
 
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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.     
 
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