“Global Demand for Oil to Plummet,” screams a recent Financial Times headline.   Huh?  No it won’t.  Who are they trying to kid?

A lot of investors woke up recently to find their money had ‘disappeared’ in Bernie Madoff’s $50 billion Ponzi scheme. And it all happened under the noses of the regulators. Byron King says there are probably many more scammers out there. And the US government is among them. He says this just strengthens the case to buy gold and silver.

The global credit bubble imploded in 2008. And now we are seeing extraordinary efforts to re-inflate it. But Byron King says we can’t go back to the old system now. Investors today need to protect their wealth with gold and cash. But long-term investors should base their strategy on the future scarcity of energy and mineral resources.

First Congress authorized $700 billion — quite a bit more than the entire Department of Defense budget — for some sort of “troubled asset relief plan (TARP).” (Nobody ever really explained it to my satisfaction. Somehow we were going to throw money at a very big problem and fix it.) Then the money flowed like rainwater to Wall Street and a bunch of banks. Then the banks and Wall Street houses continued to pay their insiders’ big salaries and bonuses.