The signal of absolute no confidence in the fiat money, usury-based economy…from Reuters:

Gold vaulted above $1,700 an ounce for the first time on Monday, after the respective pledges by the G7 and the European Central Bank to quell the turbulence in the financial markets did nothing to put investors at ease…

Of course it didn’t, because the ECB if bankrupt, all its money already having gone to shore up Greece and Portugal and there not being enough money in Europe to bail out Spain and Italy.

Going to be an interesting day – in the “Chinese curse” sense of the word.