As the US Federal Reserve meets today to decide whether its next blast of quantitative easing should be $1 trillion or a more cautious $500bn, it does so knowing that China and the emerging world view the policy as an attempt to drive down the dollar.
The Fed's "QE2" risks accelerating the demise of the dollar-based currency system, perhaps leading to an unstable tripod with the euro and yua... read more
Submitted by Mike Krieger of Kam LP
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up home... read more
10/20/10 [Ed. Note: The following is an extract from the October edition of Dr. Faber’s indispensable monthly newsletter, The Gloom, Boom and Doom Report.]
No matter what central bankers and the cheerleading, mostly useless academics who surround them pronounce in their self-created aura of infinite academic “delicacy and refinement”, under the auspices of the Fed they will do prec... read more
How can we end the Federal Reserve System? Prior to 2008, this question would have been entirely hypothetical. It is still entirely hypothetical, because the Federal Reserve System is in charge of monetary policy; the Congress of the United States is not. Certainly, the voters of the United States are not. Nevertheless, I wish to indulge myself in a completely hypothetical speculation. I w... read more
I think that my readers will agree that there is a desperate need for some fresh thinking about money in the U.S.
Many respected analysts worry that the expected action by the Fed to apply a new bout of QE after the coming elections is fraught with danger.
Fiat money in the US is in an advanced stage of decomposition and when money rots, the whole social, economic and political structure... read more
