Sculpin, before I was robbed I was somewhat more optimistic regarding the ability of people to dismiss greediness for example, to aid in the betterment of mankind.. After that event I am more tunnel visioned in that I have trouble thinking populations will behave that well, particularly when rioting, violence and public property is destroyed in protest to austerity measures. I’ve mentioned before that someone said that the criteria of civilized behavior is the postponement of immediate rewards for larger ones later. Furthermore I expect violence to occur when people are starving. Starvation becomes into play after only five missed meals.

With the Euro cracking, right now cash is better than gold to buy bread, so the US dollar is up, and gold usually falls when the dollar rises. All metals & commodities are falling & Edelson is good at technical analysis and thinks gold could go down to $1440, Silver $26, perhaps lower; oil to $85 and the Dow down to 12,000 as well. (and the Can. dollar could follow the oil decline)

“Plus, always keep in mind that at the beginning of a crisis like we have now in Europe, investors want cash above all else. That’s all going to change soon, because the world’s central banks despise runs to cash ... they despise falling asset prices ... and they absolutely abhor disinflation or, even worse, outright deflation. So that means that central banks are soon going to start printing massive amounts of money again, flooding the global economy with trillions of additional dollars. And when they do, you could just as easily see gold and silver bottom out and begin the next legs up in their bull markets.

I believe that’s not too far away. But it’s likely we will see further declines first. My models tell me that we are not yet at asset price levels that would send central banks into panic mode, forcing them to stop with their money printing.”

My conclusion is that populations are too used to government assistance and most support the notion that heavier taxation of the wealthy would quickly solve all their problems. I think all the money printing to stave off a deflationary depression has not worked and has only delayed the process. Worse it has caused inflation in foodstuffs, commodities such as copper, farm prices etc. and is heading to an inflationary depression, which is worse that a deflationary one for in the latter, at least a potato was cheap.

So by giving Greece more money you merely delay the natural result of the root causes and in the meantime postpone and add to the problem.

I believe the only solution from the debt trap will be that all the financial insolvent debt countries, i.e. most of the world, will collapse all at once, and a ("new") pegging will occur. The only peg around is gold! So the POG now could be $5000 but by the time it happens, with more money printing it may be $7000.

In spite of the huge influence on our shares I don't think many are interested in the subject so I'll let it go at that.