Marc Faber, editor of The Gloom, Boom & Doom Report, sees short-term opportunity for stocks but long-term drops.     read more

Did you know that you are involved in the most massive Ponzi scheme that has ever existed?  To illustrate my point, allow me to tell you a little story. Once upon a time, there was a man named Sam.  When he was younger, he had been a very principled young man that had worked incredibly hard and that had built a large number of tremendously successful businesses.  He becam... read more

Brazil's middle class is outraged over corruption and the feeling that none of the country's new prosperity is trickling down to them. With the economy stagnating, the country urgently needs reforms. The Hotel Glória was once Brazil's finest establishment. Heads of state stayed in the magnificent building when Rio de Janeiro was still the capital. But the hotel lost its lus... read more

There was a lot of backing away from gold on Monday. Goldman Sachs kicked it off by cutting its end-2013 and 2014 gold-price views, its first gold cut since April, to reflect the new post-Fed world reality. Goldman expects a stronger economy and less accommodative monetary policy,... read more

Gold’s bull market is intact and prices will reach a new high as declines in bonds and equities boost demand and investors seek insurance against economic and political risk, according to Schroder Investment Management Ltd. Bullion tumbled into a bear market in April and is heading for the worst year since 1981 amid concern the U.S. Federal Reserve will taper stimulus and as some investors l... read more

Banks face another global financial crisis worse than 2007-8 warns the normally conservative Swiss-based Bank of International Settlements as a $10 trillion central bank bond mountain leaves them perilously exposed to higher interest rates. The Federal Reserve recently triggered a global tightening of interest rates with hints it may start to wind down its money printing as soon as this Sept... read more

Gold climbed $15.50 or 1.21% on Friday and closed at $1,294.00/oz. Silver reached a high of $20.121 and finished up 2.19%. Gold and silver were both down on the week -6.93% and -9.07% respectively. Gold has fallen another 1% this morning and remains at its lowest level since September 2010. While gold rose over 1% on Friday, it recorded its worst weekly performance - down nearly 7% - sinc... read more

Here is a reprise of an article in which I take a closer look at the Gold Act of 1933 and the devaluation of the dollar against gold to recapitalize the banks. As you may recall at the time the government withdrew gold from circulation it was the sovereign currency, and essentially 'owned' by the state, even while it was used by individuals as money. This time gold has no official standin... read more