1. Gold, silver and commodities by Paul van Eeden

2. Economics Bubble was built on debt Not enough debt has been eliminated More bankruptcies ahead Recovery needs capital Capital is savings Savings rate will, and has to, increase There is still a long way to go

3. Inflation Inflation is an increase of money supply Inflation is not an increase in prices Prices can increase without inflation Inflation always causes higher prices

4. Money Supply Physical coins and notes are money Bank account balances are money Nothing else is money Money can be nothing less Money supply = Notes and coins in circulation Aggregate of all bank account balances

5. Actual Inflation Rate Average past 12 months = 8.32%1970 to 1979 average = 8.32%

6. Gold

7. Nickel

11. Lead

13. 2009 = $0.54

14. Zinc 2009 = $0.55

15. Copper 2009 = $1.20

16. Silver

17. Thank you Paul van Eeden www.paulvaneeden.com