There is a problem that Illinois faces. There is no actual right for a state to go bankrupt. That does not mean that no state has simply defaulted and never paid. A state hasn’t defaulted since Arkansas in 1933 during the Great Depression. However, that was also not the first state to simply not pay. The Sovereign Debt Crisis of the 1840 was just such a situation. In 1841 and 1842, eight s... read more

The pension crisis is going to be the HUGE issue in 2017. Obama is supporting about a 20% reduction in military retirement benefits. This is how such things are done. It is the way lame-duck Presidents leave office doing the nasty things nobody will admit who has to stand for election. So those on their way out do the dirty work. This is just the beginning. Obama could not get Congress t... read more

With chaos ready to erupt at any moment, this is about to shock the world. Eric King: “Rick, we have the gold and silver markets doing exactly what you said they were going to do when we spoke in 2015. You told KWN readers around the world that they needed to be patient and the bear market hell would come to an end, the gold and silver markets would turn and the high-quality mining sha... read more

Today the man who was bearish on the gold market for 5 years, and turned bullish at the tail end of 2015, told King World News that this will be one of the greatest gold bull markets in history. He also spoke about the big surprise. Eric King: Paul, from a big picture perspective, talk about where we are in the gold bull market.” Paul Wong, of Sprott Asset Management: “People nee... read more

BUCHAREST — If you’ve never been to this town, it is at once Paris on the come and a frayed remnant of Soviet architectural banality. By which I mean, what you see is what you’re inclined to see. I’ve come to this analogy looking out the window of my quaint, Beaux Arts hotel and seeing 19th-century buildings that I might call “ghetto chic” and in need of some care and cash to res... read more

As we head into the final few months of the trading year, we haven’t seen this since the Great Depression. Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness: I will also look at this debate from another angle and it is a play on the stock vs flow thesis that the Fed came up with years ago in analyzing their influence on interest rates from th... read more

With the price of gold and silver surging recently, today top trends forecaster Gerald Celente issued an updated trend forecast for the rest of 2016. Trend Alert: Central Banks Shooting Blanks. Gold Bull Run Go back to the end of August. It was all the business news. Federal Reserve Chair Janet Yellen, speaking at a meeting of leading central bankers in Jackson Hole, Wyoming, boasted that... read more

You saw how China treated Obama at the G20 vs. Putin. The writing is on the wall on the for the dollar and the U.S. If the big Central Banks resort to more QE to keep everything from collapsing, gold will SOAR. If they don’t resort to QE, everything will collapse and gold will soar in a flight to safety… In times of universal deceit, telling the truth is revolutionary act. – G... read more

Bank of Japan Governor Haruhiko Kuroda signaled his readiness to ease monetary policy further using existing or new tools, shrugging off growing market concerns that the bank is reaching its limits after an already massive stimulus program. He also stressed the BOJ's comprehensive assessment of its policies later this month won't lead to a withdrawal of easing. But Kuroda acknowledged t... read more