The “branding” of modern central banking started in the United States in the early 1980’s under then-Federal Reserve Board Chairman Paul Volcker. Facing worrisomely high and debilitating inflation, Volcker declared war against it – and won. In delivering secular disinflation, he did more than change expectations and economic behavior. He also greatly enhanced the Fed’s stand... read more
Fractional reserve banking is unlike most other businesses. It's not just because its product is money. It's because banks can manufacture their product out of thin air. Traditional commercial banks essentially create money through a well understood and time honored pyramiding of loans. Depositors who understand that their deposits are thereby placed at risk choose their banks... read more
Amman: Robert Mundell, an economist and a 1999 Nobel Prize winner, and current professor at Columbia University and advisor to the Chinese government, has called for a new global currency, saying that the dollar era had “gone with the wind”. He calls for a new international “cocktail or basket of major world currencies”.
Mundell who was visiting Amman last week, said that the... read more
Sales of the American Eagle silver bullion coins remain on track to set a new annual record this year. May sales, however, were down more than 15% from April.
Meanwhile, May sales of American Eagle gold bullion coins fell nearly 67% from April, U.S. Mint figures showed as of Sunday.
May sales of American Eagle one-ounce gold bullion coin sales were 61,000 ounces in May, up from 49,000 oun... read more
Turk: “Gold has now risen two weeks in a row, Eric, and with the strong showing today, maybe it will end this week by scoring three in a row. That would be a very positive development. The really important point is that gold and silver are steadily moving further away from the low made on Monday, May 20th, as evidenced by their short-term moving averages.
You will recall th... read more
Hedge funds raised bets on a gold rally by the most in two months as the U.S. economyexpanded less than previously estimated, boosting speculation the Federal Reserve will maintain the pace of stimulus.
Speculators raise... read more
Leeb: “The developed world remains desperate to keep gold down as long as they possibly can, and to keep silver down as well. Gold is a threat to the developed world. Of course you don’t sell 400 tons of (paper) gold for no reason, in an asinine fashion.
You don’t watch your COMEX inventories draw down. There are so many signs of desperation....
“The West is get... read more
Bullion banks have massively scaled back their short positions in gold and silver during the recent price crash and are now well positioned to profit from a rally in precious metal prices, according to the latest TF Metals Report.
It concludes: ‘The Bullion Banks have now reduced their net liability in gold by over 75 per cent and, in silver, by over 83 per cent… all since the game-chang... read more
Larsen E. Whipsnade, aka W. C. Fields
As a card-carrying curmudgeon, I have always been a fan of W. C. Fields. His pessimistic view of the human race and its foibles rivalled that of H. L. Mencken, another favorite. In 1939 W. C. Fields wrote and starred in “You Can’t Cheat An Honest Man.” Wikipediadescri... read more
We are rapidly approaching the end of cheap resources. The wealth of most Americans could get wiped out during the next decade due to commodity inflation. Focusing on your real purchasing power is critical. As this brief documentary discusses, what is it that makes gold so special? Merely a "tradition" as Bernanke would have us believe, or sound 'money'?
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