A yet to be verified story from Rough & Polished, a Moscow based website, reported that China had “confirmed its decision to acquire 191.3 tons of gold auctioned by the International Monetary Fund.” Of course, until official confirmation comes from China, no one will really know if this story is true or not. However, if … Continue reading Why China’s Rumored IMF Gold Purchase, If True, Would Be of Huge Significance
(02-18) 11:44 PST Austin, Texas (AP) -- A software engineer furious with the Internal Revenue Service plowed his small plane into an office building housing nearly 200 federal tax employees on Thursday, officials said, setting off a raging fire that sent workers fleeing as thick plumes of black smoke poured into the air. The alleged … Continue reading Fight Club Becomes Reality: Life Imitates Art
The recently announced IMF sale of 191.3 tonnes of their gold reserves, though it caused an immediate sharp knee-jerk reaction in gold futures markets, will have a negligible effect on the long-term price of gold. Here’s why. In December, 2009 the commercial bullion banks that serve as agents for the leading Western Central Banks were … Continue reading IMF Gold Sales v. the Alchemy of Gold Futures – What’s the Impact on Gold Prices?
There is an inextricable link between our academic system and the failure of citizens worldwide to understand the dire negative financial consequences of the coming second phase of the global monetary crisis. To help you understand the huge gap of knowledge that is missing from all business curricula today that is necessary to foresee the … Continue reading The Key to Surviving the Global Monetary Crisis
In Hong Kong, Mohammed al-Jasser, the head of the Saudi Arabian Monetary Authority affirmed that the US dollar’s role as the world’s reserve currency is coming to an end when he stated, “The dollar is still preeminent in its role as a reserve currency.” We should recall former US Federal Reserve Vice Chairman Alan Blinder’s … Continue reading Saudi Central Banker Confirms that US Dollar is on its Deathbed
Perhaps if the Bank of England, the US Treasury and the US Federal Reserve had not been surreptitiously suppressing the price of gold futures through their puppet bullion banks on Wall Street for decades, I would agree with George Soros that gold was the ultimate asset bubble. Had this been the case, gold’s price would … Continue reading Gold is NOT the Ultimate Asset Bubble
Today, our financial system is so broken that casinos have much more integrity in their business dealings than do our banks. Casinos Actually Have More Cash on Hand The largest casinos in Vegas and Macau have much more cash on hand on a daily basis than most branches of the largest banks in the world. … Continue reading Why Casinos Deserve Our Trust More Than Banks