Saturday, July 22nd, 2017 MST

Category: Federal Finances

Gold is a port in the debt storm

Clearly a reckless Federal government is good for gold – or more accurately, our collective can kickers in Washington DC are very bad for the dollar.  Contrary to the disinformation campaign of Wall Street, and their Federal Reserve sponsored economists, gold is not a bubble. Central banks are now net buyers of gold, and not because of tradition, as Mr. Bernanke would have you believe.

Fed holdings of US treasuries top China’s

Federal Reserve holdings of US treasuries now exceed China’s, with the Fed owning $1,108 billion and China owning $896 billion, according to data released last Thursday.  Japan holds another $877 billion.  By June, according to one analyst, the Fed will have accumulated $1,600 billion in treasury issues,  a number likely to match China’s and Japan’s combined holdings.  Just how did the Fed come to own all these securities?

Moody’s warns on US credit rating; Standard & Poor’s warns B of A and Citibank.

A recent Financial Times noted that the proposed overhaul of US financial rules threatens the credit ratings of Bank of America and Citibank. Standard & Poor’s, one of the world’s top two credit rating agencies, says that as proposed, the rules would make it less likely that the banks would be bailed out by taxpayers if the bank ran into trouble again.

Zimbabwe defaults; US raises debt ceiling limit

In moves that should have surprised no one, last week Zimbabwe defaulted on debt repayments and the United States raised its debt ceiling limit to avoid defaulting. Zimbabwe owed Caledonia Mining a mere $3 million. Because the debt was in US dollars and could not be printed (at least not by the Zimbabwean central bank),

US debt outlook worsening

In announcing that Ben Bernanke would be reappointed to a second four-year term as Federal Reserve chairman, the White House admitted that the US debt situation continues to worsen. The Congressional Budget Office (CBO) says the US debt outlook is worse than what the White House says. The White House projected that over the next

The Insolvency of the Fed

Back on July 24, 2008, I penned a post titled The Sad History of Paper Money, in which I noted that money not redeemable in either gold or silver is printed until it is worthless. Now mises.org has posted an article titled The Insolvency of the Fed that starts Since August 15, 1971 the US dollar

How to sink America

As this is written, gold is trading at about $924 and silver $16.60, posting decades-high prices. Meanwhile, the dollar is suffering on the FOREX markets. Much of the blame for the dollar’s woes, and the reason for the metals’ climbs, is laid at the feet of the subprime lenders, the subprime mess having been spread

GAO head reveals just how bad our fiscal situation is

Most gold and silver investors are drawn to the metals because of concerns about the dollar. But, do most gold and silver investors know just how bad the financial situation really is for the United States government? Probably not, says David Walker, the Comptroller General of the United States and head of the General Accountability

Page 8 of 9« First...56789