As The Daily Reckoning’s Addison Wiggin pointed out in Monday’s DR, the debt deal has no teeth. “The $2.5 trillion in spending cuts are, in the immutable logic of Washington, not cutbacks at all… but limits to the planned rate of spending increases,” and worse, “…they don’t kick in until 2013. At that time, a new Congress will be in place, unbound by the promises of the current one.”
[Read more...]China to Overtake India as World’s Biggest Gold Consuming Nation
July 29, 2011 By Leave a Comment
Much like how China has surpassed the US in so many manufacturing and economic milestones — and South Africa in gold production — the world’s most populous country is now poised to topple India as nation with the strongest gold demand in the world.
[Read more...]Jim Rogers: The US is the Largest Debtor Nation in History
July 26, 2011 By Leave a Comment
In his latest interview with The Wall Street Journal, famed Quantum Fund co-founder and investor Jim Rogers tells it like it is, as usual. Among other choice snippets, Rogers remarks that the current debt talk negotiations are simply a scam and a charade, and are just trying to get publicity. What follows are a few more, and you can view the entire video clip below.
[Read more...]Shelton: Why Can’t We Just Have Money That Works?
July 25, 2011 By Leave a Comment
Amidst political and economic tension over a potential US debt default, the gold spot price continues near record nominal highs. However, instead of focusing on the gold price – and fretting over a paper currency – Judy Shelton, author and senior fellow at the Atlas Economic Research, asks: “why can’t we just have money that works?”
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FactorShares 2X (NYSE:FSG): For Only the Most Hardcore Gold Enthusiast
Bearish on equities? Bullish on gold? Upset you’re not getting a significant enough return when you’re right about both? Here’s your chance to ultra-capitalize on your belief.
Joshua Brown over at The Reformed Broker has targeted what he sees as the single exchange-traded fund (ETF) that has absolutely “owned” this moment in time. The FactorShares 2X: Gold Bull/S&P500 Bear (NYSE:FSG) ETF is double-long gold and double-short the S&P 500.
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