All those who were hoping global stock markets would surge tomorrow based on a ridiculous rumor that China would revalue the CNY by 10% will have to wait. Instead, China has decided to serve the world another surprise. Following last week's announcement by PBoC Governor Zhou (Where's Waldo) Xiaochuan that the country's excessive stockpile of USD reserves has to be urgently diversified, today we... read more
My Dear Friends, I am writing to you from the Irving Farm Coffee and Internet cafe in Millerton NY. Our internet carrier went down today and is showing no promise of revival in the near future. I have a great coffee and a raisin bran muffin by my side so overall I have no grounds to complain. Gold linked to the dollar today certainly has taken down $1444 for the count on three taps. That... read more
Phoenix Capital Research on 04/06/2011 11:15 -0400 The financial world is entering a massive process of transition though most folks have failed to see it. That process is that of Ben Bernanke being forced to resign and the US Federal Reserve being broken up. I know many people believe the Fed is always going to be in power, but they are wrong. The US Federal Reserve is in fact the third... read more
Last week, the subcommittee which I chair held a hearing on monetary policy and rising prices. Whether we consider food, gasoline, or clothing, the cost of living is increasing significantly. True inflation is defined as an increase in the money supply. All other things being equal, an increase in the money supply leads to a rise in prices. Inflation’s destructive effects have ruined soc... read more
US MARKETS Cycles and booms and busts just don’t happen. They are planned that way. In the late 1990s Fed Chairman Alan Greenspan commented on irrational exuberance and said he hoped the market would cool down. The amount of money and credit he had introduced into the system had a great deal to do with a forming of a bubble. He indicated that on the short-term there was little he could do... read more
LONDON (Commodity Online):Global investment analyst Marc Faber says the best and true currencies available in the world today are not US dollar or Pound, but precious metals such as gold, silver, platinum and palladium. Faber, who is famous for his prediction of the US stock market crash in 1987, said that commodities, especially gold and silver will be the wise investment options for people... read more
By WILLIAM D. COHAN As Americans know all too well by this point, commodity prices — for corn, wheat, soybeans, crude oil, gold and even farmland — have been going through the roof for what seems like forever. There are many causes, primarily supply and demand pressures driven by fears about the unrest in the Middle East, the rise of consumerism in China and India, and the Fed’s $600 b... read more
It is not just the United States that is headed for an economic collapse. The truth is that the entire world is heading for a massive economic meltdown and the people of earth need to be warned about the coming economic disaster that is going to sweep the globe. The current world financial system is based on debt, and there are alarming signs that the gigantic global debt bubble is getting re... read more
Utah took its first step Friday toward bringing back the gold standard when the state House passed a bill that would recognize gold and silver coins issued by the federal government as legal currency. The House voted 47-26 in favor of the legislation that would also exempt the sale of gold from the state capital gains tax and calls for a committee to study alternative currencies for the stat... read more
Global inflation concerns are adding to gold’s luster, with a recent report predicting that Chinese demand for gold as an inflation hedge is resulting in unprecedented physical demand for the precious metal, which will likely push prices higher this year. At the same time, there are signs that gold is expanding its role as an alternative currency. Overnight, the US investment bank JP Morga... read more