Do psychic powers exist? I don't think they do, but that's because for decades all sorts of tests have been run, and when they are done correctly there is no indication that anyone has any sort of psychic ability at all.
That doesn't stop people from believing in them, of course, just as it doesn't stop hundred of frauds from tricking people into that belief... and out of their money.
The How-To series of videos on YouTube just put up a video on "how to read people's [sic] minds", and it's a relatively decent (though somewhat irritating) list of steps you can take to fake your way through a reading. And Randi's Million Dollar Challenge gets a plug in the end! So that's cool.
How many of these tactics do you see so-called "psychics" on TV use? Yeah, all of them. What does that tell you?
Tip o' the wizard cap to BABloggee Steve Ulven.