After yesterday’s meteoric rise (or bounce, as you might have it) one would think everything is fine now. What exactly is different Monday from last Friday escapes me; was anyone doubting that the G7 or G20 countries would throw whatever paper/electronic money at the problem as deemed necessary?

Only Iceland it seems is of insufficient resources to pull a rabbit out of the proverbial hat. Iceland is seeing serious problems. Residents there are desperate for foreign currency. Stores cannot even buy stock for the shelves. The value of the Krona has plummeted and still possibly a short from here.

Let me guess. Not too many Icelanders had gold coins in the closet or burgeoning accounts at GoldMoney.com. But then again, why would they, the barbarous relic that.

There is an interesting article in Barron’s online that, due to a glitch of some kind, didn’t make the print version; you can read it, and I suggest you do, it’s called Golden Opportunity.

What Barron’s is talking about is what the financial newsletters I discuss here have been talking about for years. That is, gold is a store of value. Other currencies may have their day in the sun but eventually all paper currencies lead to the toilet. The Icelandic Krona, the darling of currency traders not so long ago, is on the heals of the Zimbabwe dollar as I write.

Yet gold is nearing a new high versus the Swiss Franc.

The U.S. Government would rather you shun gold and silver and buy a few bank stocks. Harry Schultz and Richard Russell I don’t think would agree.

We all know where Doug Casey stands, don’t we?

Check out The Casey Report to help you understand and profit in this ongoing crisis.

And no, it’s not over yet.