India bought gold to boost reseves today to meet needs for IMF standards.
The big news is the European banks with the the break up of Lloyds and RBS, Royal Bank of Scotland. UBS in Switzerland report a continued loss in investment dollars and thier shares tumbled. The truth is that USB is accurately reporting what is going on in the banking industry and the US bansk are not.
US banks are really in the same bad shape as Europe but the bail out money is giving the illusion that there is no problem but the bad asset problem has not gone away.
Maybe this spill is really being started by Europe and it will impact the US into Thanksgiving.
If the S & P cannot hold 1032 soon, we may have to sell but will still give it a chance.
Barry Rosen, Fortucast
Professor Elam 
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