Long time gold mining fund manager Frank Holmes updates us on his views on the gold mining industry as well as for the airline industry for which he created a new ETF, namely the U.S. Global Jets ETF (NYSE-JETS). Frank also fills us in on prospects for the BRICS countries, in particular China and surrounding countries on which Frank's China Regional Fund is focused. All of Frank's topics will be discussed in the context of an increasingly turbulent and phony global capital markets environment.

Michael Oliver joins me to discuss the current market conditions and possible equity and debt meltdown. Michael has been doing some very interesting and important work in tracking the biggest bubble in the world, namely the sovereign debt markets. His structural momentum work looks ominously similar to the pre-1987 crash when the bond vigilantes rendered the Fed impotent.