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FYI, India's gold futures market defaulted the other day. Odd that nobody said anything here.

Its odd that nobody has mentioned that on India's metals futures market, GOLD CONTRACTS DEFAULTED the other day as result of failure to deliver. The sellers had to pay a penalty on about 8% of the contracts where they defaulted. I bet next month those sellers are less willing to short it...

Germany's stock market zoomed in the early 20's. Of course in any other currency the shares and profits were worthless. After having their currency go worthless twice in the last 100 years, it explains why the German Bundesbank (equivalent to our Fed) refuses to sell its gold. They will...

Saudi is #1, Russia #2 If Russia were to decide to join OPEC and refuse to accept US Dollars, it would be a game changer.

They need to cut sufficiently that the non-OPEC countries can't fill demand. In the long run they should let the non-OPEC countries deplete their reserves. Whoever has the last oil will make a killing when these other country's reserves run low.

The new GCC Dinar that I think will be needed to buy oil post 2010. They need to still be able to sell oil, but need to make sure what they get in return is money that will hold its value. This would force oil consuming nations to buy GCC Dinar on the open market at whatever exchange rate...

The real tax problem is that we are taxing the wrong thing. Whatever you tax is discouraged. We tax work. So, if rates get raised it discourages people from working and makes additional outsourcing to overseas a profitable move. Is that really what we want?

The Euro is almost as weak as the US dollar. I think a gold backed Dinar will replace the dollar as world's reserve currency within 5 years, mainly out of a total distrust for FIAT currencies as the competitive devaluations take their toll on people's savings. Another possibility would...

Jackson got us out of the debt completely. I agree its an impossible task, now because we are way beyond the point of no return. I don't think the dollar will survive long from here, and I don't think whatever replaces it will be very generous to those still holding dollars, or those owed...

Explain that to your great grandchildren why the US became a second world nation like Argentina or Iceland on a grand scale.

declare all otc derivatives invalid and void, make them illegal, then allow whatever can't survive to fail

It will take 100 years of recession or depression to pay off the debt these fools have run up. Jackson had guts. They endured the depression and paid off the entire national debt. We can't even stop borrowing an extra $2 or $3 billion per day, let alone pay off any debt. What did they...

Maybe they'd be better off just doing healthcare and retirement programs instead of messing around with trying to build cars or trucks?

Personally, I wouldn't trust treasury bonds to be worth anything by the time I retire. By then, the dollars they are measured in won't buy anything in terms of fuel or things that consume a lot of fuel to make, or anything that needs to be imported.

In a deflation, those who borrowed will be unable to repay, and be bankrupted. As a result, those who had lent to them will have lost their capital, and will learn to lend only to those who are likely able to repay. Remember these words well... I believe that banking institutions are...

World reserve currencies have changed before, and when they have, the results have been disasterous for the nation whose currency is no longer wanted. Its no longer an if, but a when, IMO.

As soon as the mining companies start shutting mines, COMEX will default. Any mining company with Copper, Nickel, Zinc as a byproduct is probably losing cash for every ton of ore processed now. There is no point wasting fuel, tires, and electricity at current prices. The shares are...

At least Wilson went to his grave knowing what he had done, and that it was so very wrong. Maybe the next republic will make sound money, owned by the people, and balanced budgets, rather than deficits to the moon allowed by government without limits. Unfortunately Volcker would be the...

All the rest are just as bad and we don't have as far to go to get to ZERO

You are right. Gold is garbage. I'll keep mine though. Let them sell their paper gold till nobody will accept it. The EU and everyone else are out there bashing their own currencies. What else would we expect?