Gold and Silver buying Panic in Europe.

A $1 Trillion bailout of Europe is in place and has begun, but for some reason Europeans aren't too confident in it. They are panic buying Gold and Silver for security believing that measures will fail. Basically they are anticipating a collapse of the EU economy.

Earlier we noted that the Austrian mint was on its way to depleting its gold reserves following "panicked buying" from Europeans, who now openly fear the demise of their currency. Now, courtesy of Slim Beleggen, we understand that the situation in the silver market is just as bad and has also spilled over to Germany: the contagion is no longer one of sovereign debt, but of precious metal physical inventory. The primarily silver focused (but holding gold as well) Kronwitter precious metal online retailer is not only not accepting any orders, but has entirely taken down its website.

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We just went mainstream...

After yesterday's plunge even big economic websites are going survivalist..

Today, millions of Americans say that they believe that the United States is on the verge of a major economic collapse and will soon be entering another Great Depression. But only a small percentage of those same people are prepared for that to happen. The sad truth is that the vast majority of Americans would last little more than a month on what they have stored up in their homes.

Read more: http://www.businessinsider.com/20-things-you-will-need-to-survive-when-the-economy-collapses-and-the-next-great-depression-begins-2010-5#ixzz0nG5hBfGE

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Financial dive...

Well in case you were in a bubble today or bunker....the stock market briefly dove some 900 points before recovering and closing a mere 300 points down. The cause is actually under investigation.

Was it the bankers sending a message to congress not to break up the banks?
Was it a trader pressing the wrong button?
Fear over the Greek financial situation and possibly all of Europe?
Possible cyber attack?
....or have people started to realize debt based currency and life style might be a bad idea?

Regardless, it shows just when everything seems to be heading in the right direction something can trigger a reversal. Hurricane season starts next month...lets start getting ready now.

Water supply week is next week (yes I made that up)...let's get started. I'll post some articles about getting that aspect covered.

Scouts Out!
-T


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Pending Oil disaster...

Being in Florida, everyone is aware of the approaching oil slick to our coastline. The location of where and time line of when is purely up to mother nature at this point. A professor at the University of Florida is worried about the east coast of Florida more than the west.

Media reports said Y. Peter Sheng, coastal and oceanographic engineer at UF, believes the six-day ocean current models released by the National Oceanic and Atmospheric Administration reveal that the slick "could get caught in what's called the 'Loop Current' 35 miles south of the slick, which flows through the Florida Straits and becomes the Gulf Stream."
According to Sheng, Florida's west coast from Big Bend to Cedar Key could be spared while eastern coastal beaches are threatened.

Obvious impact to fisheries is already being felt in some gulf coast areas as fishing has been shut down and local seafood has ceased coming in. At a minimum the result to Floridians could be the same...possibly for an extended period. The economic cost could be staggering. The Gulf economy is ~ $2.2 Trillion. 83% of all US shrimp come from the gulf...56% of all oysters. Tourism is of course a huge aspect...

The impact to Florida and Floridians is as of yet unknown. Job losses? Increase costs (seafood is a given), increase in other prices are possible if shipping lanes are diverted or cut off. Frankly. folks..this is one crisis I hadn't planned for....and I need to ponder the possibilities more.

On a side note the financial markets are reacting badly to the debt crisis in Europe...I surprised no one has realized how bad it is here...



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