The gold/silver ratio just rose through its previous post April high.
http://goldprice.org/gold-silver-ratio.html
This chart doesn't include today's prices.
At the same time, September silver futures took out last week's low while gold is near new highs.
The gold/silver ratio is a good indicator of the economic cycle. It reached a low around 16 during the peak of the 1980 inflation and a high around 100 during the early 1990s banking problems. The recent low of 32 in late April is the low for this cycle so far. The rise to 46 has been fairly rapid and should be taken as confirmation of financial stress and overall deflationary conditions.
The behavior of silver at this juncture is very critical in my view. The safe haven properties of the US dollar, bonds, and gold were seen yesterday and that is normal but silver was also up, although weaker. At the same time, oil continued to get smashed.
Stocks have been able to recover the 1130 level this morning and may thus stabilize for awhile.
One last note - looking at the long term gold silver ratio at the bottom of the link above shows us how hugely inflationary QE2 really was.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.