Banks at Risk, Gold Lower

Taskeo Mines on watch list shows strength.
Gold for December delivery closed down 70 cents at $680.90 an ounce on the New York Mercantile Exchange





Gold/XAU Ratio 4.67

http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2007/IO+August+2007.htm
see this link for Bill Gross August comments and subprime mortgage problem--remember his comments July 24--see my post for that date. While in Jackson Hole 2 weeks ago I was at a meeting ofr the College of Surgeons PAC. I had a casual conversation with a banker from Knoxville Tn--he indicated that the subprime mess was just the tip of the iceberg and that when all of this is over a lot of financial people will go to jail.