The rats are fleeing the burning tenement of Wall Street. First, Greg Smith from Goldman Sachs who resigned in horror over the the firm's alleged disregard of any ethical limitations upon their ability to separate their clients from their money. Then today, an anonymous insider at another large bank comes out making numerous allegations about rigging off the silver and financial markets. We have no evidence to base any conclusions as to the veracity of these allegations, but certainly we have seen numerous Wall Street clients end up in the poor house.

Surprise, surpise, just when you thought the bad guys at MF Global and their network of enablers had won, the MF's Trustee in Bankruptcy turns up another $685 million, which just a few days ago seemed all but lost. Perhaps they found it in John Corzine's filing cabinet, or maybe it was in the supply closet along with the records of all that other money they haven't been able to find. Or perhaps some of the banks who were holding these funds decided it just wasn't worth the bad PR. Either way, FSN is always skeptical of coincidences. Especially now, when the global collapse is perhaps switching into high gear, and we're going to get a sample of those weapons of mass financial destruction that Warren Buffet has been losing no sleep over. 

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Direct download: Chris_Duane_03-15-2012.mp3
Category:general -- posted at: 10:05 PM
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Don Watkins and I discuss the unsustainable state of America's Entitlement Society. It is clear that the system is going to collapse; we are certainly at the height of corruption when half the population is allowed to live at the expense of the other half. The geometric growth in entitlement programs and expenditures is also mathematically unsustainable. Therefore, people need to be educated about entitlements, which actually make society more poor and ensure a lower standard of living for everyone. 

The alternative to enlightening and raising the population's consciousness will be far worse than ending entitlements programs. While there is certainly a core of individuals who physically or mentally cannot participate in society, the extra wealth created by the elimination of the parasitic class would more than make up for the loss of entitlements. Before the advent of leviathan government, who's sole purpose was to take care of an ever increasing portion of the populace thereby insuring it's own perpetuation, it used to work this way in America.

Please fill out the subscription box at KerryLutz.com to instantly receive your free Financial Survival Toolkit & weekly gold and silver newsletter.

Direct download: Don_Watkins_03-15-2012.mp3
Category:general -- posted at: 4:34 PM
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Barry Stuppler, veteran precious metals investor and dealer said back in October that Platinum was a screaming buy. For good reason. Platinum's price had dipped below the price of gold, for only the fourth time in the post WWII era. Of course the Platinum market is extremely small compared to others, but it is an extremely important industrial metal that also has some investment attributes. Sure enough, Platinum closed out the year at around $1400 and in no time at all has surpassed gold. Platinum has been the best performing metal so far this year. Today, Thursday, 3/15/2012 it's at $1674 per ounce.  

There's a number of factors adding to Platinum's rise. Labor unrest in South Africa (the largest producer), increased auto sales, jewelry demand in Japan, and the Canadian Mint's reintroduction of Platinum Maple Leafs. If these factors continue in force, we could see record increases in Platinum prices and for that reason Barry believes it has a golden future. 

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Direct download: Barry_Stuppler_03-15-2012.mp3
Category:general -- posted at: 2:47 PM
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