–> Return of the Gold Standard as world order unravels. As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train.

–> Italy's borrowing costs soar.

–> The emperor has no economy. Corporate profits are up, consumer income is down.

–> Moody's downgrades Ireland debt to junk status.

–> Armor Holdings pays fine for 'bribing UN official'.

–> Moody's to review US triple-A debt rating ~ may cut the US AAA debt rating, citing the "rising possibility" the US could default on its debt obligations. US Fed chief Ben Bernanke has said a default would cause a "major crisis".

–> 15 Food Companies That Serve You Wood.