A curious Ministry of Finance (MoF) report circulating in the Kremlin today says that the Central Bank of Russia (CBR) has “accepted for protection” 3 million ounces of gold worth over $3.5 billon from US banking and financial services giant Citigroup along with a further nearly $100 billion in cash. According to this report, 1.4 million ounces of this now protected gold in the vaults of the CBR... 

The United States is reported to be working with the International Monetary Fund (IMF) on a backup plan to rescue the Greek economy as economists throughout the world queue up to criticize the latest bailout plan as totally unworkable. The sheer folly of the latest bailout plan for Greece was summed up last week by Finland’s Minister for Foreign Affairs Timo Soini who said that, in agreeing... 

As gold broke below the psychologically important level of $1,200 an ounce late in December of 2014, the mainstream financial media burst with headlines like this one from Marketwatch, “Gold’s Safe-Haven Role is Over“. The Noble prize winning economist from The NY Times, Paul Krugman, penned a wicked missive on the ‘barbarous relic’ by invoking Keynes and the absurdity...