E Pluribus Unum

I can't figure out why there isn't more on this on the blogs. Distracted by other domestic events maybe?

By the way, the link in the post just goes to the Telegraph's main page.

Thanks for the heads up. Fixed the link.

As for why there wasn't more news on it, I think it's because we're obsessed about the three people killed by alligators so far this month.

First things first!

P.S.

Where did gold close today?

Gold corrected down to below $700. As I (ahem) predicted. Expect a rise within a week or two, maybe sooner.

Interesting quote from a Telegraph article on gold:

An American metals guru has warned that gold could crash within hours or days after a speculative "blow-off" last week to a 26-year high of $727.75 an ounce.

Peter Grandich, publisher of the closely-watched Grandich Letter, told The Daily Telegraph he expected gold to plummet up to $150 an ounce after reaching the most extreme levels of speculative excess he had ever seen.

"I think there will be a very short, sharp correction of 10 to 15pc, in the worst case reaching a floor of around $575 an ounce," he said.

"In the long-term I'm still very bullish on gold because I think the US dollar is dying and I don't see what can replace it. But the latest rise is quite simply unsustainable."