Tocqueville's Hathaway, Williams of Shadowstats, and Russell opine at KWN

Submitted by cpowell on Fri, 2011-05-20 21:19. Section: Daily Dispatches

5:18p ET Friday, May 20, 2011
Dear Friend of GATA and Gold (and Silver):
The blog at King World News will keep you busy tonight and eager for the reopening of the precious metals markets Sunday night.
The Tocqueville Gold Fund's John Hathaway remarks on the likely acquisition of mining companies by Chinese companies:

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Here Is What Happens After Greece Defaults 

Submitted by Tyler Durden on 05/21/2011 19:49 -0400

When it comes to the topic of Greece, by now everyone is sick of prevaricating European politicians who even they admit are lying openly to the media, and tired of conflicted investment banks trying to make the situation appear more palatable if only they dress it in some verbally appropriate if totally ridiculous phrase (which just so happens contracts to SLiME). The truth is Greece will fold like a lawn chair: whether it's tomorrow (which would be smartest for everyone involved) or in 1 years, when the bailout money runs out, is irrelevant. The question then is what will happen after the threshold of nevernever land is finally breached, and Kickthecandowntheroad world once again reverts to the ugly confines of reality. Luckily, the Telegraph's Andrew Lilico presents what is arguably the most realistic list of the consequences of crossing the senior bondholder Styx compiled to date. 

 

 

 

 

Erapture! Iceland Grimsvotn Volcano Has Erupted, White Plume Ejected 18,000 Feet Into Air, Seismic Readings Across Iceland Off The Charts 

Submitted by Tyler Durden on 05/21/2011 16:18 -0400
Update from ABC7: A no-fly zone has been enacted within a 120-mile radius of the erupting volcano in Iceland.

More:  BREAKING NEWS: Iceland's most active volcano erupting; white plume up to 18,000 feet seen.
And there goes European air traffic once again, with its already stagflationary economy to follow down the drains momentarily. At least depressionary apologists will have something to blame on the Q2 GDP plunge on.
More as we get it. 

Grimsvotn Eruption Video 

Submitted by Tyler Durden on 05/21/2011 22:13 -0400

• Iceland

Ever wondered what a 15 kilometer high pyroclastic cloud looks like? Here is the answer, in its full iPhone cam captured glory. Based on our sources on the ground in Iceland, the "volcanic event is at least as powerful as the Eyjafjallajokull of last year. The eventual effect on air traffic will depend on wind conditions (slow and random at the moment) and actual ash composition which has yet to be determined. Preliminary observation indicates a milder risk for aircraft, but highly uncertain pending further measurements."