In an unprecedented move, the Fed announced that Ben Bernanke will begin holding “regular press conferences to better explain monetary policy to the US public and financial markets.” Heretofore, Fed Heads have been exempted from having to answer questions from the bourgeoisie. Contrast that with US presidents, who, on a regular basis, have had to
Silver is in the news more than anytime since the it spiked to $50 in 1980. Marc Davis says it’s because silver is a currency in a crisis. Not that silver is a crisis but that it becomes a currency in a crisis.
Further, China, which used to be a major source of silver, is now a huge importer as Chinese citizens have become big buyers.
House Republican leadership is playing games with H.R. 4, which, as originally written, would eliminate 1099 reporting as imposed by Obama’s healthcare legislation. Despite H.R. 4 passing the House by a wide margin, 314-112, Republican leadership altered the bill so that it probably will not be suitable to the Senate, according to Jim Babka who
If there were ever a time for a need for understanding of money, it is now. And, no one was ever better at explaining the complexities of money than Murray Rothbard.
Rothbard’s The Case for a 100 Percent Gold Dollar remains of the best treatises on gold and money. As Paul Carter notes in his review, “Money is the heart of any economy. In fact, it is the very basis of modern civilization itself. Without an effective medium of exchange, society cannot advance beyond a primitive barter system. Things that we take for granted, such as specialization of labor – and its associated advancements in technology – are all enabled by the existence of money.”
The more comprehensive your grasp of the concept of sound money, the greater you chance of surviving the world’s financial crisis.
The cost rebuilding the areas of Japan that were devastated from the one-two punch of the earthquake and the tsunami will be enormous. Fortunately, the Japanese are among the world’s biggest savers, which means that they have the funds to spend and will not have to solicit donations as did New Zealand after the 6.3
The big news among close watchers of silver was the COT report that large bullion banks increased their silver shorts on the COMEX by 3,000 contracts. Ted Butler, known for his analysis of the silver market and COT positions, was “so shocked” that at first he thought there was a mistake. Butler noted that the
H.R. 4 passed the House by a vote of 314-112, which fairly much assures it would pass the House in a final vote. However, a companion bill must pass the Senate before Obama faces the unpleasant choice of whether or not to veto it. Ideally, the Senate needs to pass its version by such a
Gold and silver investors are concerned about the 1099 reporting that was slipped into Obama’s 2,400-page healthcare legislation, and rightfully so. The measure is invasive, burdensome and un-American. It should be repealed, and today there is a major step toward repeal. The House is expected to vote on a bill today to repeal the 1099