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 It should be repealed, and today there is a major step toward repeal.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
In a piece posted on gold-eagle.com, David Chapman, director of Bullion Management Group Inc., gives a succinct overview of the problems in the Middle East as the revolutionary movements threaten the stability of the world’s major oil producers. He sees the developments being dangers to the dollar, including the possibility of US debt being downgrade
Silver continues to shock the analysts who thought that after the metal’s run to plus $30 a severe correction was in order. Instead, it appears that maybe silver’s move to the downside was only a consolidation. Still, only time will tell, but nothing’s improving on the world’s financial scene and reports of shortages of physical silver abound. So, will silver push to the $40 level, as Gene Arensberg says is a possibility?
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?
A shortage of 100-oz silver bars is developing in the US, and presently buying, while strong, is not what I would call robust. When buying picks up, the shortage will be on us.