Yesterday I saw a graph showing how much the US banks have in reserve, and that somehow the Fed is now paying them interest on these reserves. So they are hoarding cash and keeping it from moving through the economy, keeping it from being invested?

This really sucks. And when you look at majors like Barrick, with the worlds largest gold production and gold a very high levels, they are still at a Price to Earnings of just 13:1. This is insanity!

No wonder there is no money for gold juniors like Tyhee. The incipient failure of the US dollar is sucking the life out of everything.

I am not optimisitic about how things will go in the marketplace in Sept and Oct, however gold could do extraordinarily well.

SKELLIG