Happy Friday before President’s Day. Today is options expiry for gold, so the bear raid in gold we’re seeing today shouldn’t be too surprising. Next Friday is silver options expiry, so we can expect silver to feel the pain on into next week.
In honor of President’s Day, I present this snapshot of President Lincoln …
I’m sure it’s historically accurate.
Here are some stories you may find worth reading this weekend …
1. The Gulf of Mexico swallows the equivalent of a football field of Louisiana land every hour — about 1,900 square miles since the 1930s. With levees pushing sediment flow past the river’s mouth, Louisiana can’t fortify itself against the sea by creating new land. Read more.
2. America’s aging water infrastructure is leaking, and the plumber just came in with an estimate: $1 trillion, payable over the next 25 years. Right now America’s leaky pipes and broken taps waste about 6 billion gallons a day, or 14 percent of America’s treated water. Read more.
3. We are now burning 10 times as much energy as a century ago to provide the goods and services we consume. Human energy consumption has passed the 500 exajoule threshold.
4. Much to the disappointment of the world’s supervillains, global markets are surging. Read more.
5. Visualizing Obama’s 2013 Budget Proposal (many charts).
See also, a “Choose Your Own Adventure” version of “So, What Would Your Plan for Greece Be?” Read more.
7. There are 3.88 official unemployed per job opening. You have to think that counting the unofficial unemployed, it’s much higher. The good news is the trend is improving. Read more.
8. Bank of America is a criminal enterprise. Read more.
9. Gold and Silver Eagle Bullion Sales Slower After Brisk January. For the month of February 2012 to date, the US Mint has recorded sales of 835,000 of the one ounce American Silver Eagle bullion coins. The sales total compares to 6,107,000 ounces worth of Silver Eagles sold during January 2012. In the year ago period of February 2011, the US Mint had recorded sales of 3,240,000 ounces. Read more.
10. You know, this Mexican-Iranian silver conspiracy is enough to make Rick Santorum shit the bed. Read more. Yes, that was sarcasm, folks. But with Mr. Santorum, it’s hard to tell sometimes.
11. China’s latest power-grab is in the resource-rich Arctic. Read more.
12. Citigroup says Peak Oil is dead. Well, I guess that settles it then. I mean, being such an unimpeachable, non-conflicted source and all. Read more.