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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.
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
In his 5 myths debunked about the Federal Reserve, Mark Hamrick of Bankrate, asserts that the Fed does not print money. He is correct, but he obfuscates the issue. The Bureau of Printing and Engraving prints the paper dollars that we use for money, but paper dollars (and coins) account for only about three percent
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
It’s now been a year since Germany announced that it was recalling gold that had long been stored in New York and Paris. The Bundesbank (Germany’s central bank) said that the purpose of the recall was so that half of Germany’s gold reserves would be stored in Frankfort. At last report, according to the IMF
When I entered the silver bullion business in 1973, few people knew what the Federal Reserve System was and what it did. Still fewer knew it was a central bank, and with little knowledge of what a central bank did. Those that knew the Fed existed knew that it expanded the nation’s money supply, which
In Austrian Economics circles there is currently a debate whether Bitcoin – the most widespread of the new crypto-currencies – is a legitimate currency or just a complex scam. The debate has become some somewhat reminiscent of the inflation vs. deflation arguments of a couple of years ago with each side digging their heels in
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
Here’s an interesting quote from Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Do you know what he is referring to? I would guess that less than one in a
According to Steve Liesmen, investors face a bit of a dilemma in attempting to figure out the health of the economy. Do they believe the falling GDP numbers or the jobs numbers which are relatively steady in light of the GDP problems? The real problem is how to do you glean meaningful information from statistics
