Wishful thinking? Someone at the Republican National Committee got their basic accounting terminology confused Thursday. An RNC research briefing email about Treasury Secretary Tim Geithner's trip to China was titled "Checking In With The Debtor." The email went on to describe China as "America's Largest Foreign Debtor." If only. China is, of course, America's biggest creditor. The email sent readers to the RNC's Web site, which quickly corrected the error.
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The $7 billion man has the unlikely name of Eric Sprott. He's a Canadian fund manager who recently bid on 191.3 metric tons of gold being sold by the International Monetary Fund. Mr. Sprott hoped to use the $7.1 billion pile of bullion to lure more institutional clients to his recently launchedSprott Physical Gold Trust. But the IMF rejected his offer, not wanting to sell such a large amount on the market. Does such an audacious bid mark the top of the gold market?
