Tehran has dismissed claims that a container intercepted by Israel was carrying ‘hundreds of kilograms of Iranian-made arms’ to Lebanon.
…
Iranian Foreign Minister Manouchehr Mottaki, in a joint press conference with his Syrian counterpart Walid Muallem on Wednesday, dismissed the allegations out of hand.

His remarks were backed by Muallem, who asserted that contrary to Israeli claims, “the ship was not carrying Iranian-made weaponry for Syria or Lebanon,” but was in fact carrying Syrian-made items for consumption in Iran.

“Unfortunately a number of pirates disrupt business activities and frequenting of the ships, these pirates sometimes act in the name of [Iranians],” said the Syrian Foreign Minister.

The debasement of paper money is going to accelerate and the investment demand for gold and silver is ultimately going to go berserk.

Here’s another gold news item, an act of war:

Israeli military attacks and takes over Iranian ship
Wednesday November 04, 2009 09:35 by Saed Bannoura – IMEMC News

An Iranian ship was attacked in international waters in the Mediterranean Sea by the Israeli navy early on Wednesday morning, while apparently on its way to Lebanon.

According to Israeli media sources, no Cabinet meeting was held in advance of the decision to attack the ship, and a small number of Cabinet officials may have given the go-ahead for the attack.

“Con Job in the Financial Markets Continues”,
October 23, 2009

http://tinyurl.com/yz63cpj

Blame Willy Nilly(from Zero Hedge)

Is it possible that gold could move up in value to say $1,400 and at the same time the relative values of the Dollar/Euro/Yen/ Sterling would remain stable (+/- 2%)?

One month ago I would have said that would not be possible. Today it looks like a wild card that could come in.

There is a biblical amount of liquidity available globally at a cost less than 1/2%. In that environment gold is an increasingly attractive asset class. Gold doesn’t pay interest, but neither do T Bills. India just said so. We will see more of this.

Would a move up in the price of gold against the major currencies precipitate policy responses by Central Banks?

more…

At the end of its two-day meeting, the Fed’s rate-setting committee affirmed its plan to keep interest rates at a record low for an extended period in the face of still high unemployment and low inflation.

more…

http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/2009/09/g20_meeting_doing_what_needed.html#P86002068

http://www.huffingtonpost.com/2009/11/04/drunk-frenchman-opens-bot_n_345345.html

Everyone must file this trick away in their memory banks for future reference.

The death of the USA Empire in 2020

http://inpoints.blogspot.com/2009/11/death-of-usa-empire-in-2020.html

Us poor Resonance bong smokers can only imagine how much you would need in gold to have already done well!

Still, hopefully I’ll have my £1 of savings in gold soon and wait to see it double. Even if just to say ‘I told you so’ to all those who tell me it’s a risk and would rather settle for a 3% savings account (and loose money as the pound drops – they don’t get it).