August 14, the 117-year old London silver fix will be no more. The fix, which now is set by HSBC, Scotia-bank and Deutsche Bank, has been deemed no longer viable because Deutsche is dropping out and cannot find a buyer for its seat on the fixing body. Critics of the fixing process have for decades
The US Justice Department recently announced–with much bravado–that BNP Paribas, a major French bank, had agreed to pay a record penalty of $8.9 BILLION for transferring money on behalf of Sudan and other countries sanctioned by the United States. The fine is more than triple the amount paid collectively by six other banks for similar
Ron Paul recently interviewed Bill Haynes, CMI Gold & Silver Inc. president, for the RonPaulChannel.com. Ron and Bill discussed the gold industry, the right forms of gold to buy and developments that affect the precious metals market.
by Joe Cobb Harvard professor Kenneth Rogoff wrote in the Financial Times, May 29, that “Paper money is unfit for a world of high crime and low inflation.” He proposed to get rid of paper money. Government paper money. What would people do to make payments?
The Left is making “income inequality” a cause célèbre , even trying to make it a campaign issue for this election cycle. Academicians and theorists present many reasons for why the “top one percent” earn so much more than the middle class, but lost in the discussions is why wealth is created by some people
A precious metals wholesale trader issued a commentary on the metals’ price decline this week. He cited three reasons for the drop: 1) calmer voices about Ukraine, 2) higher than expected durable goods orders, and 3) improved consumer sentiment.
European Central Bank president Mario Draghi recently suggested (again) that quantitative easing would revitalize the Eurozone’s economies. Robert Blumen, physicist and Austrian economics advocate, thinks that Europe’s’ problems are systemic and that the system is unsustainable.
For more than a decade, GATA and others have asserted that the gold and silver markets are being manipulated, offering circumstantial evidence that manipulations are real. Now comes more solid circumstantial evidence that support GATA’s assertions.
A long-time client, who is a financial advisor, sent this: I thought it was interesting that the Christie’s Art Auction brought in a record 745 Million yesterday. A Francis Bacon piece sold for 80.8 Million and keep in mind that same piece sold for 15 Million 10 years ago. Looks like the uber wealthy wants
Central planners and their minions rarely–if ever–admit the failures of their programs. In fact, they rationalize and even support their continuations when the schemes fail, laying blame on “the markets” or someone else’s inability to recognize the brilliance of their interventionist schemes. Martin Wolf, the Financial Times chief economics commentator, recently lamented the lack of