Richard Russell: The Koreas’ situation has and will continue to support some safe-haven investment demand for gold and silver.

The point & figure chart below of GLD brings the gold picture up to date. GLD formed a “high pole” to the 138 box. A bullish upside breakout would come at the 140 box, a bearish breakdown would come at the 128 box. The fact that GLD has retained most of its gains following its 138 high is bullish. If I had to bet, I’d bet on an upside breakout.

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Executive Summary: How to Protect Your Portfolio from the Economic Insanity

Investors should be gravely concerned about the future of their portfolios, according to a newly released report from Bullion Management Group Inc (BMG). The reason? Because today’s fiscal and monetary policies have set the stage for a wrenching period of currency devaluation, portfolio destruction and potentially devastating inflation.

“How to Protect Your Portfolio from the Economic Insanity” notes that today’s financial policymakers are displaying a dangerous absence of common sense. The report, authored by noted bullion expert Nick Barisheff, seeks to educate mainstream investors about the powerful but often unnoticed riptides affecting the global economy and, by extension, the health of their portfolios.

Beginning with an explanation as to why we are experiencing one financial crisis after another, this report offers investors a carefully researched but easy to understand look at the inner workings of our deeply flawed economy. In doing so, it manages to shed new light on three of the most pressing issues affecting investors today.

Three pressing issues explained

Why the global debt crisis is far more dangerous than it appears;
Why monetary policies are driving the global economy to the brink;
How investors can protect their portfolios from the inflationary storm.
Government debt is already a global problem, but government denial may be the bigger issue. Japan’s debt is already twice its GDP, and will grow even larger in 2010. Britain’s net debt will reach 56 percent of GDP in 2010, while Spain, Italy and Portugal are facing massive fiscal deficits. “Official” US government debt is already 90 percent of GDP, and that number will soar as trillion-dollar budget deficits become the norm for the next several years. Yet little is being done to solve the problem. If America’s fiscal policies aren’t changed, its debt-to-GDP ratio will soon rise to the same level as that of Greece and Portugal. These are extraordinary times.

The protection of wealth

….read more HERE