While Chinese residents were lining up in front of banks and currency exchange kiosks, desperate to convert as many of their Yuan into dollars as the government will permit, Americans were likewise busy exchanging their own paper currency, so greatly in demand in China, into gold and silver.
The US has reportedly put its troops in South Korea on the highest alert ever to deter “any provocation coming from North Korea,” following Pyongyang’s latest underground nuclear test. The order was announced by Curtis Scaparrotti, the head of US military deployment in South Korea, who was visiting the Osan airbase, which is jointly run by Washington and Seoul. The US has more than 28,000 troops deployed in South Korea which has remained technically at war with its northern neighbor since the 1950-1953 Korean War ended in an armistice, not a peace treaty.
Earlier today, when Bank of America said that "panic is building" in the market and asked, rhetorically, "how bad could it get", it listed what it thought are the five core pillars in the bailed out bank's wall of worry:
Jonathan Broder makes a very strange claim in an article on the Saudi-Iranian rivalry:
The president has yet to take a side in the Iran-Saudi conflict, leaving the U.S. without the trust of either country and unable to influence the Middle East’s growing sectarian divide.
By EconMatters
The Mining Industry Approach