North Korean finance chief executed for botched currency reform.

North Korea has executed a senior official blamed for currency reforms that damaged the already ailing economy and potentially affected the succession, a news agency in South Korea reported today.
Had Mr Nam-gi done this in the US he would have been rewarded with taxpayer funded bonus and many offers for his book titled, "I’m Doing God’s Work".
Source: guardian.co.uk
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In The News Today Posted: Mar 22 2010 By: Jim Sinclair Post Edited: March 22, 2010 at 1:51 pm
Filed under: In The News

Dear CIGAs,
I am preparing to leave for Tanzania today. Please consider these thoughts as I will be in the air for nearly 19 hours.

There is NO way the debt disaster is going away. There is no way that the US dollar is a store house of value.

The US and Great Britain have the most serious debt problems and it is still growing. Gold will trade at $1650 and above. According to Martin the action of the gold price is a perfect setup cycle wise for a major April – October rally.
Seasonality does not now exist in gold, but it does exist in gold trader’s minds.



Lipsky Says Debt Challenges Face Advanced Economies (Update1) By Joyce Koh
March 21 (Bloomberg) —

Advanced economies face “acute” challenges in tackling high public debt, and unwinding existing stimulus measures will not come close to bringing deficits back to prudent levels, said John Lipsky, first deputy managing director of the International Monetary Fund.
All G7 countries, except Canada and Germany, will have debt-to-GDP ratios close to or exceeding 100 percent by 2014, Lipsky said in a speech today at the China Development Forum in Beijing. Already this year, the average ratio in advanced economies is expected to reach the levels seen in 1950, after World War II, he said. The government debt ratio in some emerging market nations had also reached a “worrisome level.”
“This surge in government debt is occurring at a time when pressure from rising health and pension spending is building up,” Lipsky said. Stimulus measures account for about one-tenth of the projected debt increase, and rolling them back won’t be enough to bring deficits and debt ratios back to prudent levels.
Rising public debt could lead governments to seek to eliminate it through inflation or even default if they fail to carry out fiscal measures in time, Mohamed A. El-Erian, co-chief investment officer at Pacific Investment Management Co. warned earlier this month. Nassim Nicholas Taleb, author of “The Black Swan,” a book arguing that unforeseen events can roil markets, said March 12 he is concerned about hyperinflation as governments around the world take on more debt and print money.
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IMF: Debt Situation "Grim" for Wealthy States- NY Times



Here is a real Economic Indicator: Box makers wait for signal of economic growth


Stocks Fall on Worries Regarding Greek Debt Return


The Four Cities that Best Weathered the Recession (As if the "recession" were in the past?)


Germany and France Split Over Solution to Greek Debt Problem


When Credit Falls and Equities Rise, Stock Investors Beware

Bernanke Suddenly Worried about "Too Big To Fail"- Dow Jones
New US Tax Laws Push Out Foreign Banks- SwissInfo
Don't worry be happy...The resession is over right...Really...
Unemployment Soars in US Metro Areas- Reuters
US MBA Grads Flocking to Asia for Jobs- MSNBC
Study: Shopping Rules Have Changed for Americans- Charleston Post and Courier