Apparently the Federal Reserve is not the only entity threatened by gold. Central banks in Europe are restricting the sales of precious metals, presumably threatened by the fact that citizens are increasingly abandoning the devalued paper currencies and preserving their wealth by purchasing gold and silver.

While America's President shrinks from facing the demographic catastrophe lurking a decade or two down the road for Social Security, Medicare, and public pensions, there is evidence in Germany that such a debacle might be avoided — and a glimmer of hope in France. Last year French President Nicolas Sarkozy raised the retirement age in his country from 60 to 62 — for which he endured weeks of demonstrations and a lessening of his popularity. 

Italian authorities vowed a few days ago to send home more than a thousand Africans who invaded the isle of Lampedusa after leaving Tunisia and Libya to seek fortune in Europe. The latest pronouncement from Italy, London's Telegraph reported, came after the detained illegal aliens set fire to the facility in which they were housed.

The announcement by Kaspar Villiger (left), Board Chairman of UBS (Union Bank of Switzerland), that CEO Oswald Grübel had resigned on Saturday caught many by surprise, partly because just the day before he had said he had the board’s complete support. According to Villiger, “The Board regrets Oswald Grübel’s decision. Oswald Grübel feels that it is his duty to assume responsibility for the recent unauthorized trading incident.” He added: 

Since France passed legislation earlier this year banning the Islamic burqas, or face-veils, from its streets, the law has engendered a wave of protest. Now, in a show of opposition against the ban, an Islamic Frenchwoman, Kenza Drider, has decided to launch a bid for the French presidency. “When a woman wants to maintain her freedom, she must be bold,” she asserted.