Well gold is pushing above $1200 and it is reported that cash and ETF settlement from the comex wearhouse is being pushed while those who insist on physical delivery are having great difficulty in getting the metal.

Sounds very close to a default to me. Perhaps that is why the US mint has once again suspended certain gold coin sales.

The finacial system is getting worse and worse.

On a lighter note it was reported that the CEO of Kinross is not looking for mining opportunities in China, Indonesia, Venezuala and PNG. This is because they are appearently politically and finacially too risky.

Meanwhile GM car sales in China just surpased those in the US and foreign investment continues to pour into China, the largest gold mine in the world, Grasberg, operates in Indonesia along with many other mines.

Perhaps someone should tell him that he has a major operating mine located in RUSSIA hahahahahahahahaahahahahahaha.

All in my honest opinion of course.

F.F.