Jim Rickards, writing for KingWorldNews.com, exposes the risks that the Fed is taking with its second Quantitative Easing program, now aptly dubbed QE2. According to Richards, the Fed could go bankrupt. First, how the Fed could go bankrupt; second, why it will not happen, at least not immediately. The Fed announced that it plans to
Today the financial community awaits Fed’s decision on Quantitative Easing 2, which has become the euphemism for a second round of money creation in another effort to get the economy going. At the end of its two-day FOMC meeting, the Fed will reveal the details (some, at least; all, probably not) of Quantitative Easing 2.
Tomorrow America votes in one of the most divisive elections that I’ve seen. In Arizona, the Democrats started way behind in the polls but made up some ground by going negative. Nearly every Democratic ad I’ve seen has been an attack ad against the Republican candidate. Seeing the Dems gaining, the GOP went negative. It’s
While it is rare deposits in excess of $250,000 result in losses when banks get in trouble, a recent Arizona bank failure shows that it does happen. Last week regulators closed First Arizona Bank, which looks to result in losses of $5.8 million to the bank’s customers who had deposits in excess of the FDIC’s $250,000 insurance maximum.
The common, accepted view is that the printing of still more fiat money will pull the world’s economy out of its malaise. Austrian economic theory offers a contrary opinion. At Grand Canyon University last night, Tom Woods articulated a small portion of Austrian economic theory and why “quantitative easing” will not solve the problem but exacerbate it.
Although Woods’ talk is titled, “The Free Market and the Financial Crisis: Not Guilty as Charged,” I don’t see he can get around talking about nullification. With fedgov determined to ram Obamacare down our throats, nullification may be a major way to resist. By now, we’ve all learned that Obamacare isn’t just about health care, but massive government intrusion into our lives and the economy . . .
Mineweb.com, a South African-based website dedicated to the mining industry, is an excellent source of articles about precious metals. With contributors around the globe, mineweb.com offers wide perspectives. Today’s issue has four articles and a podcast, most of which should be of interest to investors with gold hitting all-time highs and silver hitting 30-year highs.
Many gold and silver investors openly confess concerns about the world’s financial structure, and many Americans express concerns about the banking system. Yet, few Americans fear losing money due to any bank failures.
In an unprecedented move, the US Mint this week raised premiums on its 1-oz Silver Eagles fifty cents per coin. It is not unprecedented that the Mint raised premiums on Silver Eagles. Since being introduced in 1986, Silver Eagle premiums have been increased many times. But, the size of the increase is unprecedented. Past increases
For the CBGA (Central Bank Gold Agreement) year to end September 30, central bank gold sales are estimated to be 6.2 tones, down 96% from their high of 497 tons for the CBGA year ended September 30, 2005, the year for the highest sales under the CBGA. Over the last ten years, central banks sold