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In this month of: The Acamar Journal

Sovereign Debt = Sub-Prime Debt

At the PDAC mining conference in Toronto last week, I thought the turnout was less than last year. This made sense, as by March 2009, investors had lost their shirts and were desperate for information on how to get their money back. Complacency has now set in with this year-long market rally. read the full newsletter

Paper Money and Gold

In 1705, John Law submitted a proposal to the Scottish Parliament that a new bank be set up that issued interest bearing notes to replace gold and silver coins as currency. He believed that public confidence alone was the basis of public credit and would allow bank notes to replace gold. read the full newsletter

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Insight of the Day

 

 

        

 

 

Recently Profiled

Economic and Market News

Crisis Awaits World's BanksNY Times
IMF: Risks to Global Economy "Up Sharply"CNN Money
You Dont Recover from a Debt Crisis With More DebtGlobe and Mail
Prepare for Monster Money Printing from the FedTelegraph (UK)
Saudi Arabia Doubles Gold HoldingsGulf In the Media
Gold: The Eternal CurrencyAsia One Business
US Cities on Verge of BankruptcyCNN Money
Is Europe Heading for a MeldownTelegraph (UK)
Greeks Line Up to Buy GoldBusiness (Australia)
Gold Buying Frenzy in ChinaCommodity News (India)
Germans Lead Gold Rush FrenzyFinancial Times (UK)
A Pressure Cooker Waiting to ExplodeThe Groenewegen Report
Video: Gold Prices Will Plummet to $ 800The Street.com
Investing for the worst case scenarioPaul Ferrall/CBS Marketwatch
A Large Steel BoxRichard Russell
Poll: 93% of Respondents Believe Gold Will Fall in PriceCommodity Online (India)
IMF: Sovereign Debt Could Trigger `New Phase' In Crisis Wall Street Journal
Squashing the Goldman Vampire SquidGuardian (UK)
Empires Fall Quickly and Without WarningNiall Ferguson
Japan Could Become BankruptEast Asia Times
Americans Blame Bush for EconomyPolitico
BIS: Sovereign Debt Crisis at "Boiling Point"Telegraph (UK)
Must Read: How Wall Street Ripped Off Main StreetRolling Stone
Britain Could Lose AAA Rating in 12 MonthsIndependent (UK)
US Push on YuanChina Post
Obama 'Playing with Fire' over YuanChina Daily
Gold Stock RecoveryAdam Hamilton
Eurozone Risks "Sovereign Debt Explosion"Telegraph (UK)
Moodys: US Could Lose AAA RatingNew York Times
75 Years of Funny MoneyNational Post
Cracks Appear in EuroGlobe and Mail
Soros Doubles His Investment in GoldBBC
China's Monetary Tightening Won't Affect Gold DemandChina Post
Sovereign Defaults, Painful AusterityBloomberg
Berkshire's Munger: 2012 is Tipping Point on Road to RuinCBS Marketwatch
Wall St. Helped Hide European DebtNew York Times
Foreigners Dump US BondsABC News
Economic Landmine: Half of Commercial Real Estate 'Underwater'BusinessWeek
No Gold Rush for Paulson's FundNew York Times
China's Military: Retaliate by Dumping US BondsReuters
Dr. Marc Faber: We are all DoomedCNBC
Bullish HUI TechnicalsAdam Himilton
Corruption in Washington and America's FutureIndependent (UK)
UK Economy 'Lies on Bed of Nitroglycerine'Telegraph (UK)
Central banks and FXKhaleej Times (Dubai)
Gold: $ 2,000 in 2010?Commodity Online (India)
LSE Prof Warns of Massive US Dollar CollapseTelegraph (UK)
Commodities Supercyle to Continue in 2010Gary Dorsch
China Currency PegPeter Schiff
If Countries Fail, Who Will Save Them?Telegraph (UK)
UK Debt Crisis Possible in 2010: Morgan StanleyTelegraph (UK)
China, Gold and CivilisationTelegraph (UK)
We're Running Out of Gold: Mining CompaniesYahoo News
Which Big Country Will Default First?Prudent Bear
Jim Rogers Says Roubini Wrong on Gold BubbleBusiness Intelligence Middle East
Why Gold Could Still Triple From HereJosh Lipton
Video: Jim Rogers on the US and ChinaYahoo Finance
Video: Roubini Predicts a Dollar RallyWealth Daily
Goldman Sachs Magic Trick (Video)MSNBC
Wall Street's Naked SwindleRolling Stone
China: Real Estate Bubble?Stratfor
$ 5,800 Gold?CBS Marketwatch
IMF: China to lead Asia with 8.5% Growth in 2009China Daily
US $ No Longer Safe HarbourSprott Asset Mngt
US $ Set to be Eclipsed: World Bank PresidentGuardian (UK)
Half of German Top Managers Given the BootSpeigel (Germany)
Interview: Goldman Sachs CEO BlankfeinSpeigel (Germany)
Video: Future of the US DollarCNBC
US May Face 'Armageddon' in US BondsCNBC
China: From Trade Surplus to Trade DeficitCBS Marketwatch
HSBC bids farewell to US Dollar SupremacyTelegraph (UK)
Nassim Talib: Bernanke Should Not be Allowed in WashingtonGlobe and Mail
Gold Stocks Still CheapAdam Hamilton (Zeal)
China Pushes Masses into Gold and SilverMineweb (South Africa)
Former NY Governor: "Fed is a Ponzi scheme" (Video)Youtube
Video: Peter Schiff Was RightYoutube
Gold and Gold Stocks are the Best BetsPeter Schiff
Yuan for the RoadChina Daily
Congressman Kirk: China to Buy $ 80 Billion in GoldFox News
From 2007: Gold to $ 3,400Times Online (UK)
John Embry: $ 1,500 Gold and HyperinflationThe Gold Report
Hedge Fund Manager Invests $ 5.5 Billion in GoldTelegraph
Schroder Investment: Gold May Rise to $ 5,000Bloomberg
More News

Warren Buffett, Chairman, Berkshire Hathaway:  

Fiscally, we are in uncharted territory. Because of this gigantic deficit, our country’s ‘net debt’ is mushrooming… no one can know the precise level of net debt to GDP at which the United States will lose its reputation for financial integrity.”