Mike Holmes has got it right--from the Building Science playbook. The other way is asking for trouble.

Here is a link that might be useful: Basement Insulation

thanks this article is exactly what i wanted to know

http://www.buildingscience.com/documents/primers/plonearticlemultipage.2006-12-05.5229931729/section-2-recommendations/?searchterm=basement%20insulation

Did you have luck installing basement floor insulation? Here's some more info on using reflective insulation to use in basement floors:
http://www.ecofoil.com/Applications/Basement-Floor-Insulation

Reflective insulation in the floor makes Martin Holladay's list of the ten most useless energy-related products.

Here is a link that might be useful: The Foil-Faced Bubble-Wrap Sham