The paper dollar is now the single most important source of systemic risk to the financial system, the world economy and the security of the American people. Continue reading
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Money
Brazil, Russia, India, China and South Africa, collectively known as the BRICS nations, are moving forward with their plan to unseat the US dollar from its throne as the global trade currency and to replace it with a Chinese denominated “super-sovereign” international currency. Continue reading
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Ron Paul’s congressional committee will hold a hearing to examine how the Federal Reserve bails out European banks. In his opinion, the bailout will come at the expense of American citizens, in the… Continue reading
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Courtesy of Julian Phillips
The use of the SWIFT system to rein in Iran, may be a mistake by the U.S. China will react, I feel.
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Detlev Schlichter addresses the Adam Smith Institute Tuesday 22nd November, 2011. He argues that the present financial crisis is far from over; generally misunderstood and misrepresented, it is far from being a ‘crisis of capitalism’. Continue reading
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by Eric Townsend
Through its misguided policies, the US has been exporting inflation to the rest of the world, raising prices all over the globe. The US is not experiencing inflation yet, because of… Continue reading
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CNBC’s Rick Santelli says there are a lot of myths out there that deficits are OK. Continue reading
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Image via Wikipedia
Apparently, the first order of business in post-Kim Jong-Il… Continue reading
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What IS money? Few people, and that includes most economists, actually know. This leads to all sorts of confusion and the disasters of incompetence that are happening in Europe and elsewhere.
Ideally, today’s troubles… Continue reading
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“Right now what the Federal Reserve is doing is ruining an entire class of people in America,” Rogers said. “The people who saved and invested for the past 10, 20, 30 years are now being ruined because interest rates are [too] low.” Continue reading
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Depression, Germans are terrified of hyperinflation, having experienced one in the 1920s that is still etched into the German psyche Continue reading
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Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession. Continue reading
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Since the Federal Reserve began to telegraph QE-2 a year ago, the US’s MZM money supply has increased by roughly $1trillion, buoying the price of gold. In turn, many central banks in other countries that peg their currencies to the US dollar were forced to expand their money supplies, in order to keep their currency exchange rate on an even keel with the massively inflated US dollar. Continue reading
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A tongue and cheek look at paying of the US budget deficit by taxing everything. Continue reading
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August 15 marked the 40th birthday of the US dollar as a completely fiat currency. On that date in 1971, Richard Nixon announced the closing of the gold window. According to him, this was necessary to protect the US dollar from attacks from ‘international money speculators.’ Continue reading
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Gold, with the world in turmoil, is experiencing a renaissance as an investment class. It shines in the current climate of chronic uncertainty: the Eurozone is in a vise, and the US dollar is gradually losing its status as the world’s leading currency. Continue reading
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