Number of banks on FDIC problem list now 702 at end 2009. No surprise there for me.

In 2009 appearently there was a surge in allocated bullion accounts at the expence of unallocated accounts. Allocated accounts are accounts where bullion is owned by costomer and registered in there name while with unallocated gold you are a unsecured creditor of the account holder.

With allocated gold you are charged storage but with unallocated gold you are not. Personally I would wonder if I am not being charged storage because the account holder did not actually buy my bullion but just took my money hahahahahahahahahaha. It would seem perhaps that has crossed other investors mind also.

According to the COT the commercial traders had cut there short position to the lowest levels since mid July on a % basis of open interest. No surprise there for me.

Reported that the EU is drafting a E20 billion bail out of Greece. Yep it is there debt but the problem of the other banks who financed it hahahahahahahahahahahaha. Germany and France's banks have huge exposure to Greek debt. If Greece defaults then both Germany and France will have to bail out these banks anyways most likely. To me the easiest solution will be to bail out Greece so it can pay its debts coming due and thus kick the can down the road a little further.

Mass layoffs surge in January and the highest since July 2009. So much for that job stabilization nonsense they were talking about back in Novemeber and December. I wrote as much and said that no employer willingly lays off people just before the holiday season and to wait till the new year. Well again there is no surprise for me in these numbers.

Finally it has been annouced that the TOCOM is extending its trading hours in Sept. It would seem to me that the TOCOM is expecting an increase in metals trading around that time and does not want to miss out on any of the action.

All in my honest opinion of course.

F.F.