The extremely optimistic assumptions on which both of the recent International Monetary Fund's 'World Economic Update' and 'Global Financial Stability Report' are based are such that, given all the attendant circumstances, I do not place much weight on either of them. Here is a summary of what the reports have to say and why I have come to that conclusion. Words: 625

Is it OK for gold to go down? Those invested in gold would prefer it doesn’t, but a rational answer must be “Yes.” Trees don’t grow to the sky and few assets monotonically increase in value for lengthy periods. Gold is no different. It has had a remarkable 11-year run but is this run over? Is gold just another bubble?.... Words: 1122

When the financial crisis of 2008 hit, many shocked critics asked why markets, regulators, and financial experts failed to see it coming. Today, one might ask the same question about the global economy’s vulnerability to cyber-attack. Indeed, the parallels between financial crises and the threat of cyber meltdowns are striking. [Let me explain.] Words: 885

We are in a number of crises: the sovereign crisis, a banking crisis, an economic crisis and a social crisis. The first three crises together are guaranteed to bring down the world economy because they are not just in one country, they are worldwide....A social crisis will develop leading to even more social unrest. All of these factors are why this will ultimately lead to a hyperinflationary depression - the most serious depression the world has ever experienced - and why investors have to focus on protecting their wealth.

I don't think it's any stretch [of the imagination] to say that we are now facing a coordinated economic slowdown the likes of which we haven't seen since 2008 and, frankly, something has to give — and my belief is that it will be stock prices! Here's why. Words: 710

I don't think it's any stretch [of the imagination] to say that we are now facing a coordinated economic slowdown the likes of which we haven't seen since 2008 and, frankly, something has to give — and my belief is that it will be stock prices! Here's why. Words: 710

"The entire financial system is in collapse. It’s not about the Greeks, Spanish, Italians, English, Americans, the Chinese, it’s about everybody. That’s what we’re looking at, and...I believe a tidal wave entrance into gold will happen when there’s a real collapse and catastrophe that they can’t paper over anymore. When does the crash point happen? No one can tell, but all of the cards are in place for the house of cards to collapse.”

It’s incredible that the Mayans forecast 2012 would be the end of a major era. It looks, today, like we are standing on the eve of massive changes in the world that will have consequences for a long, long time to come. The scene is already set....the euro will collapse, and...other major currencies will collapse. The consequences of these (eventual) collapses will be horrible because we will have a hyperinflationary depression.

How does Greece — an economic basketcase — compare to Germany — an economic powerhouse? The infographic below answers that question. Take a look.

Dark...financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere. Indeed, the global economy in 2013 could be a very difficult environment in which to find shelter.