Precious metals news

By Peter Schiff
The only thing more ridiculous than S&P’s too little too late semi-downgrade of U.S. sovereign debt was the market’s severe reaction to the announcement. Has S&P really added anything to the debate that wasn’t already widely known? In any event, S&P’s statement amounts to a wakeup call to anyone who has somehow managed to sleepwalk through the unprecedented debt explosion of the last few years.
Given S&P’s concerns that Congress will fail to address its long-term fiscal problems, on what basis can it conclude that the U.S. deserves its AAA credit rating? The highest possible rating should be reserved for fiscally responsible nations where the fiscal outlook is crystal clear. If S&P has genuine concerns that the U.S. will not deal with its out of control deficits, the AAA rating should be reduced right now.
By its own admission, S&P is unsure whether Congress will take the necessary steps to get America’s fiscal house in order...

$50 silver is so close you can feel it. Soon after $50, silver will finally be in open sky territory, and that's where the real fun will begin. Jack Mullen […]

In what is perhaps the 1st decent idea TEPCO has come up with to mitigate the radiation crisis at Fukushima, NHK reports that TEPCO will begin spraying a polymer emulsion […]

S&P appears to have caught this update on the US fiscal situation- Moody's must have been out catching Scary Movie 9. Interesting that America's net 2010 loss was well over […]

Alasdair Macleod of Gold Money's latest examines the anatomy of a short squeeze. If shares of LBS, a London real estate company in the midst of a massive BEAR market […]

Kyodo reports today that radiation at Fukushima reactors No. 1 and 3 has risen to 57 millisieverts/ hr. This level will restrict shift lengths for workers at Fukushima, even with […]

1 oz of Silver? Peter Cooper of Arabian Money is calling for silver to blow past $50 THIS WEEK! In the aftermath of S&P putting US debt on negative outlook […]

S&P have just signed their own death warrant. In an absolute shocker (especially with gold within a stone toss of $1500 and silver nearing $45), S&P has done the unthinkable, […]

The dollar is FINALLY catching somewhat of a bid this morning, as the euro is getting absolutely hammered as a result of Greek default rumors and yesterday's Finland election results. […]

With today's True Finn victory in Finland putting Portugal's bailout in jeopardy, we can only imagine the bailout rage that will surface once it becomes clear that Spain, Italy, and […]

In what is horrible news for Portugal's hopes of a euro bailout, today's Finnish election results are in, with the True Finn party gaining 34 seats. (For those unfamiliar with […]

Stunt Plane Imitating Silver Market Silver immediately shot higher upon the Monday Asian open, already hitting $43.25. Silver's next target is $44, as the shiny metal continues working higher in […]

Silverdoctors reported earlier that Morgan Stanley has decided to flee Tokyo, and we now have reports that the Japanese gov't is not far behind. Sofia news agency is reporting that […]

More evidence the Fukushima disaster continues to worsen. From NHK World: April 17, 2001: Radiation levels in underground water rise The operator of the troubled Fukushima Daiichi nuclear power plant […]

Radiation levels across America continue to increase in air, rainwater, drinking water, milk, and vegetable samples. With no end in sight to the Fukushima crisis, its critical to take preventative […]

Morgan Stanley is following our advice, and getting the heck out of dodge. Reuters reports that Morgan Stanley yesterday defaulted on their $3.3 Billion Tokyo property, the largest default in […]

If any of our readers are still living in Tokyo, it is time to get the heck out of dodge. TEPCO announced today that it will take at least 3 […]

Will China be able to control inflation? Or has the ship already left the station? Our view....the ship's already left the earth's gravitational pull on a non-stop journey to the […]

The University of Texas' endowment fund has made an investment of $1 Billion, or 664,300 ounces of physical gold, Bloomberg reports. This marks a milestone for the gold/ silver bull […]

The situation at Fukushima appears to be worsening again. Kyodo is reporting that Fukushima seawater radioactive iodine levels inside the containment fence rose sharply today to 260 becquerels/cubic cm- a […]