All that glitters...

Given the crazy pace of "buy gold now" advertising on TV, it's surprising to me that there hasn't been more widespread gold fraud. I suspect that one day we'll look back on this time and say, wow, how could we have been so gullible. Apparently, at least one large German foundry has found gold ingots stuffed with tungsten. It's a story to watch and it could be the Madoff of 2010.

"German TV station ProSieben finds what appears to be some evocative proof of gold counterfeiting, in the form of tungsten gold substitutes coming to the W.C.Heraeus foundry, which is the world's largest privately-owned precious metals refiner and fabricator."

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• The Senate appears to be close to passing some form of consumer protection to be installed at the Fed. The devil will be in the details.
• Jim Rogers is talking up the US/Japan similarities again. I've been in the camp that says this is one of the more likely scenarios we face....... "It wouldn't surprise me if America doesn't go through a 20 or 30 year period where things just don't go anywhere," he said.
  "If you had said to someone at any point in history that your stock market is going to be 75 percent down from where it was 20 years ago, they would have called the police because they would have thought you were nuts," he said."
• Chilean Quake shifted the Earth's Axis....
• Software to attack art fraud....

Cheers!