ApocalypseTV (4/2/10)

First off, here's the podcast everyone's talking about: Eric King's interview of Andrew Maguire regarding Bears Stern/JP Morgan's long-standing manipulation of the silver market. Adrian Douglas of the Gold Anti-Trust Action Committee comes in at the end to add his take on the scandal. (Unfortunately it can't be embedded, but it's a must-listen.)

Speaking of GATA, the organzation issued, on April Fools Day, a truly hilarious press release in which it offers to sell 191.3 tonnes of gold, an amount equal to that remaining to be sold by the International Monetary Fund, on the IMF's own highly dubious terms -- and do it at $100 less than the spot price. Reading all this makes one wonder whether the IMF, as well as Fort Knox and the New York Fed, contain anything like the gold reserves they claim. (If you'd like a good Gold and Silver Market Manipulation 101 lesson, I'd suggest turning here.) 

-- After selling the gold, GATA will present the buyers with certificates of ownership while continuing to store the gold using vaults in the United States, Britain, France, or India whose locations are known only to GATA.

-- The gold will be audited by auditors chosen by GATA whose reports will be available only to GATA.

-- The gold may be resold through GATA as long as it does not leave GATA's vaults.

-- GATA will use some of the gold sale proceeds to assist developing or financially troubled nations but exactly how much is used for that purpose and what's done with the remainder will be nobody's business.

-- GATA's sales will be structured to minimize any effect on the world gold market and to this end they will be announced only this once.-- For an additional $250 GATA will have a buyer's gold certificate tastefully framed.

-- Buyers of gold in the amount of $100 million or more will be invited to GATA's annual Christmas party.

Purchasers should send certified checks payable to GATA in care of your secretary/treasurer at the address below.

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee

7 Villa Louisa Road

Manchester, Connecticut 06043-7541USA

Nouriel Roubini debates a Vampire Squid about whether China's a bubble and whether Greece's debt crisis will set off a domino effect. (For some reason, the Goldman Sachs man says that Greece isn't a problem? I wonder why?) 

ReasonTV has a good video on Obama's "New Economy." There's always work at the government! 

Finally, MISH has a excellent breakdown of the finances of America's state governments, and how they make Greece look sound and trasnparent in comparison. Sarah Palin's Alaska is Number 1!  

Debt as Share of GDP