Gold, Oil & Indices (Equity & Bond Indices)

http://www.zerohedge.com/article/us-discovers-nearly-1-trillion-mineral-deposits-afghanistan

"In the meantime, look for gold prices to plunge as the newly uncovered gold deposits are rumored to be "large" enough to once again refill Fort Knox and to push the supply curve three miles to the right."

station,

excellent video !

The Upright Citizens Brigade have put together this hilarious video likening the BP oil spill to an out of control coffee spill in the company's corporate offices. Even Halliburton executives get involved in trying to clean up the mess.
http://www.youtube.com/watch?v=2AAa0gd7ClM&feature=player_embedded watch this..........

Maybe... I think it is not too far fetched that after all BP would call chapter 11. After all a put on BP strike 300bpc was priced at 0.01 in April and now is 0.6 the premium is extremely high so some bet on BP default.

Excerpt from Fortune interview with Oil&gas insider Matt Simmons:
These days, Simmons has been weighing in on BP (BP) and the worst oil spill in U.S. history, following the explosion of the Deepwater Horizon drilling rig in the Gulf of Mexico. As BP struggles to permanently stop the gush of oil, Simmons has been warning that the scale of the spill is much bigger and that there's a larger leak several miles away.

Experts forecast an active hurricane season this year. We know it could disrupt efforts to stop the spill, but how else do you think storms could impact the Gulf Coast?

We've got to stop the gusher first. Then we have to deal with the other issues. There's a lake at the bottom of the Gulf of Mexico that's over 100 miles wide and at least 400 to 500 feet deep of black oil. It's just staying there. And only the lightest of that is what we're seeing hitting the shores so far. If a hurricane comes and blows this to shore, it could paint the Gulf Coast black. We should have been pumping this oil out onto other tankers weeks ago.

What do you think is in store for the future of BP?

They have about a month before they declare Chapter 11. They're going to run out of cash from lawsuits, cleanup and other expenses. One really smart thing that Obama did was about three weeks ago he forced BP CEO Tony Hayward to put in writing that BP would pay for every dollar of the cleanup. But there isn't enough money in the world to clean up the Gulf of Mexico. Once BP realizes the extent of this my guess is that they'll panic and go into Chapter 11.