Michael B. Duff

Why is it that gold is the only bull market where every 2-4% correction brings out the top-callers? How many times did AAPL correct 2-4% in its run from $10 to $300? How many times did the Dow correct 2-4% in its run from 800 to 14,000?

Ah, the glamor of pro gaming — crammed into a house eating rice and sleeping in bunk beds with a dozen other guys.

Remember that the government helped and encouraged the giant banks to get even bigger, and then has hidden their insolvency and shielded them from the free market, and helped them grow even during the severe downturn. In return, the big banks and giant corporations have literally bought and paid for the politicians. Conservatives might call it "socialism" and liberals might call it "fascism" – they are the same thing economically.

These outsize earnings are symptomatic of a disease that is slowly killing the American economy. We are creating so much regulation – over tax policy, health care, financial activity – that smart people have figured out that they can get rich faster and more easily by manipulating rules on behalf of existing corporations than by creating net new activity and wealth. Gamesmanship pays better than entrepreneurship.

“This is our worst day and lowest day,” Ned O’Keeffe, a Fianna Fail lawmaker, said in an interview with broadcaster RTE. “We are sovereign people and blood has been lost over it. It’s sad that the U.K. Chancellor is now offering us money. I never believed I’d see that.”

Video speaks most eloquently for itself.

In plain terms, China has ALL the trump cards when it comes to global monetary/ economic issues. For that reason, its decision to simply ban exports of rare earth elements to Japan during the fishing boat tussle should be seen as a MAJOR warning of how China will conduct its affairs as it continues its quest to become a global super power.