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 [...]

Forget about the $50 billion Madoff Ponzi scheme. Forget about the $8 billion Stanford Ponzi schemes, forget about the $3.6 billion of bonuses paid to Merrill Lynch executives after the firm’s failure, and forget about the $200+ millions paid out to AIG executives. The biggest stock market scam of the century is now underway, hatched, [...]