In the first presidential debate, both candidates portrayed themselves as innovative problem-solvers pursuing creative avenues to “grow” the American economy. Interestingly, GOP nominee Mitt Romney did not mention his party’s most creative idea, laid out at the Republican National Convention in Tampa, Fla.,: creating a national monetary commission “to investigate possible ways to set a... read more

In recent months there has been a lot of incorrect speculation that because Iran has been shut off from the petrodollar, SWIFT-mediated regime, its economy will implode as the country has no access to the all important greenback and can thus not conduct international trade - the driving factor behind the international sanctions that seek to topple the local government as Iran dies an economic d... read more

It was fascinating to read the comments of ‘Mr Gold’ Jim Sinclair this week about gold heading for $3,500 to $12,400-an-ounce as a result of a shift in spread management by the bullion banks (click here). He used to run one so knows exactly when and why these banks are likely to slash their short positions and go fully long in the precious metal. However, a consideration of the famous... read more

What if there was a financial system that would eliminate the need for the federal government to go into debt, that would eliminate the need for the Federal Reserve, that would end the practice of fractional reserve banking and that would dethrone the big banks? Would you be in favor of such a system? A surprising new IMF research paper entitled "The Chicago Plan Revisited" by Jaromir Benes a... read more

World War III is under way. It is not about nukes in Iran or terrorists in Afghanistan, or oil in Iraq. In the end, it boils down to food and the destruction of Everyman's net worth – in other words, money. World Wars occur because the moneychangers deprive Everyman of his ability to provide for himself and his family. The so-called Arab Spring is a case in point. It began, if you remembe... read more

Most Americans have no idea what a tremendous advantage the United States possesses by having the primary reserve currency of the world, and most Americans also have no idea how close the U.S. dollar is to losing that status. For the past 40 years, the vast majority of all global trade (including the buying and selling of oil) has been done in U.S. dollars. That is still the case today, b... read more

A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States - the economy that I am talking about has a GDP that is more than two trill... read more

The Fed policy's first-order effect is to issue hundreds of billions in "free money" to banks; the second-order effect is to destroy the rule of law in the U.S. Let's start with a few questions about the proper role of the Central State and Central Bank: why should they bail out private banks? The answer boils down to something like this: "If the private banks absorbed the losses that are ri... read more

Following a major miss in July consumer credit which declined by $3.3 billion (since revised to a -$2.5 billion decline), it was only natural that August would be the opposite, and see a rebound over consensus. Sure enough, the August total consumer credit number came in at $2.73 trillion, an increase of $18.1 billion from last month [4], on expectations of an increase by $7.25 billion. Why did... read more

The Gist These precious metal stocks were originally on my radar in August. European Central Bank President Mario Draghi stated in July the ECB was prepared to do whatever it takes to preserve the Euro. This advanced the EU currency versus the dollar and created a reflationary trend which sparked a rally in precious metals. I was bullish on silver and gold before, yet with the latest perf... read more