Europe’s economy remains in the doldrums, and central planners there are hinting at fundamental Keynesian moves to weaken the euro, which, in their thinking, would stimulate growth in the eurozone by making European goods cheaper on the world market and foreign goods more expensive for Europeans.
For years, reports that China’s banking system is at risk mostly have been ignored. Now, though, investors are listening as Chinese officials have admitted to problems in the Chinese banking system and its economy. From March 14’s Financial Times: China warning on defaults sparks fears over growth Bad debts on rise * ‘Lehman moment’ concerns
So wrote Gillian Tett in Friday’s Financial Times. Mr. Tett started his piece by noting that Nigeria’s central bank had announced that it would convert almost a 10th of Nigeria’s $43 billion reserves from dollars to renminbi. Tett went on to acknowledge that only 0.01 percent of the world’s central bank reserves are now held
In The Federal Reserve under attack like never before, I noted that when I started in the silver bullion business in 1973 few people knew what the Federal Reserve was and what it did. That was not always the case. Before the Fed was instituted in 1913, the United States had had two central banks,
The World Financial Crisis of 2008 now seems a long time ago and not worthy of discussion, except at the academic level where professors can point to the power of central banking. After all, didn’t the Fed solve the crisis by buying assets, many of which that were worthless on the free markets, with freshly
How is it that almost every mainstream economist is continually proved wrong in their predictions, that almost every prescribed course of action has led to a continual decline in the future economic prospects for the average American? The answer lies in the fact that economics has long since stopped being a field of scientific inquiry
Investors spend a lot of time trying to make the right investment moves; however, there are “mixed signals” that cause making the right decisions difficult if not impossible. Many of the mixed signals come from the Fed’s intervention in the financial markets, which are populated with malinvestments kept alive by the Fed’s manipulations of interest
There is no great challenge to being successful when you have the sole legal right to create new money. On the other hand, convincing the American people and Congress to go along with such a scheme through the creation of a third central bank, the Federal Reserve, was no small task. But with that task
When the Fed announced that it would not immediately begin reducing (tapering) its “asset purchases,” that was a watershed moment, and it will have tremendous impact on the gold and silver markets in the years ahead. For decades, Keynesian economists have asserted that governments can manage economies by deficit spending and money manipulation. Basic to
Larry Summers shocked — and gratified — the investment community when he asked not to be considered as the next chairman of the Federal Reserve. Stock indexes around the world rose on the news, with the belief that money will continue to flow freely around the world. Gold and silver prices did not respond immediately.
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