Special Edition: "When You Own Gold, You're Fighting Every Central Bank In The World"

There were a lot of developments over the weekend... and I have five stories that I just don't want to sit on until Tuesday morning... especially a couple of stories regarding gold. So, here's everything I've accumulated up until midnight on Sunday night.

But first, a quick look at the Kitco gold chart up to the London open at around 3:40 Eastern time...

And the silver chart...

I have five stories... all of which are must reads... particularly the last two.

The first three stories are all from The Telegraph in London. The first is a short piece by James Quinn. "High levels of government debt around the world remain the most likely trigger of the next economic downturn, the former chief economist of the International Monetary Fund has warned." The headline reads "Debt levels risk another crisis" and the link is here.

The next is by reporter Liam Halligan... and is a stunning indictment of the G-20 conference in Pittsburg... 'The ultimate result of shielding men from the effects of folly,' said the Victorian philosopher Herbert Spencer, 'is to fill the world with fools'. The headline reads "No reform, just a cosmetic patch for a discredited, flawed regime"... and the link to the story is here.

And lastly from The Telegraph is this piece by Ambrose Evans-Pritchard... "Private credit is contracting on both sides of the Atlantic. The M3 money data is flashing early warning signals of a deflation crisis next year in nearly half the world economy. Emergency schemes that have propped up spending are being withdrawn, gently or otherwise... western central banks will have to 'monetize' deficits on a huge scale to stave off debt deflation." This story is a huge must read as well... and the headline states "Money figures show there's trouble ahead"... and the link is here.

The last two stories are the gold-related ones I mentioned at the beginning. The first is a story of a now-declassified 5-page document from the files of the Central Intelligence Agency... linked here. The story that goes along with it is a must read as well... and is a GATA release entitled "Zero Hedge: The CIA chimes in on gold control; Highlights Historical Gold-to-Foreign Holdings Shortfunding"... and the link is here.

And, as I usually do, I save what I consider to be the best story for last. It's also a GATA release... and there are actually three stories in one here... the bio on Jim Rickards, The Wall Street Journal story he's being asked to comment on in his CNBC interview, and the CNBC interview itself. The bio and WSJ story are must reads in their own right... but I'd listen to the CNBC interview at least a couple of times... and hang on Rickards every word! The GATA release is entitled "Yikes! On CNBC: 'When you own gold, you're fighting every central bank [in the world]"... and the link is here.

Our contemporary brand of socialism has one fatal flaw. It's too expensive. When you try to shower benefits on so many recipients, you eventually must resort to subterfuge. Foremost among those tricks is money and credit expansion. Inevitably, you debase your currency. - James Cook

It will be another interesting day in Comex trading when the New York bullion bank show up for work... unless they show up in London trading first.

See you on Tuesday morning.