Silver Update. A London trader told Eric King that there is a shortage of silver bullion. Eric Sprott has begun buying bullion for his 1.5 billion dollar silver fund. The Canadian Mint has said it will open an allocated silver fund. Hang tight. Gold was driven down by leased gold being sold.
I personally would compare MF Global to the bankruptcy of the Rothschild owned Credit Anstalt bank in Vienna on May 11, 1931. The people of that time were already in a Depression like we are today. But the severe phase of the economic contraction did not begin until the Bank of England devalued the pound four months later on September 21, 1931 so I do not expect a sharp downturn within the next two weeks.
Jim Willie has a PhD in statistics from Carnegie Melon. He has to live outside the USA because he tells the truth about money.
This should be my last blog post until after Christmas.