Do You Really Think This Can End Well? We do occasionally run into someone who doesn’t understand our beef with the Federal Reserve. You would think having destroyed 96 percent of the dollar’s purchasing power since it went into business in 1913 would be reason enough to be dissatisfied with the Fed. Not to mention […]
A Trillion Here, a Trillion There… A Bloomberg story begins with this headline: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit. A trillion here, a trillion there, and pretty soon you’re talking about real money. That phrase, adapted from a quote attributed to the late Illinois Senator Everett Dirksen sometime in the 1960s, […]
Audit the Fed Washington is a land of hypocrites. You probably don’t need any convincing but let me give you one example because it is relevant today. In 2010, Congressman Ron Paul’s bill to audit the Federal Reserve had 320 sponsors in the House of Representatives. No surprise that it had so many sponsors. Their constituents were […]
The Fed is on the Razor’s Edge We enter 2019 on the financial razor’s edge. One wrong move, one little slip by the Federal Reserve, and the money supply and price inflation could explode. That’s not just my view. I’m citing the views of a former chairman of the Senate Banking Committee. In a Wall Street Journal article this week, former […]
Trump Criticizes Fed, Chairman Powell It’s not hard to see that confidence in the Federal Reserve is collapsing. Usually the Fed quietly booms and busts the economy for its own reasons and escapes unnoticed for it, like a thief in the night. But President Trump has changed that, unleashing a firestorm of criticism on the Fed and Chairman […]
Another Hike So, President Trump’s objections notwithstanding, the Fed raised interest rates once again on Wednesday. That’s its fourth rate hike this year. The Fed does not seem to realize the stress the US economy is under: stress from stock market volatility, political uncertainty, trade wars, threatened hot wars, growing deficits, big debt, global de-dollarization, […]
Thanks, Fed! 2018-12-11 Researchers at the Federal Reserve know what they have done to the Millennial Generation, and it isn’t pretty. But don’t expect them to stop. Ryan McMaken at the sound money, free market Mises Institute has examined a new Fed report on how the Millennial Generation is doing at this stage of their […]
Debt, Debt, and More Debt Here’s the headline: US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High. A New York Fed report says that “that total household debt rose by $219 billion to reach $13.51 trillion in the third quarter of 2018—an increase of 1.6 percent, up from a rise of […]
Dragging Gold Down It’s been a pretty bloody few weeks in the oil trading pits. From the high at the beginning of October of almost $77 per barrel, the benchmark price of West Texas Crude fell to around $55 this week. A sell-off of that magnitude in any market is a big deal. It’s a […]
Consumer Goods Prices are on the Rise President Trump says the Federal Reserve is “the biggest threat” to his presidency. He is afraid the Fed will create a new recession. “I think the Fed has gone crazy,” he said last week. The stock market is noticeably nervous about the Fed as well. But the Fed may […]
Sometimes I like to share the views of others, views that deserve serious consideration. One of those views is that the Federal Reserve is about ready to tank the stock market. Although there are some, not all of those who believe this think the Fed is about to drive a stake through the heart of […]
7 Week High for Gold This Week We had a 7 week high for gold this week. Although Friday saw some pull back on profit taking, it was still a good week for gold. Gold finished out the week just short of $1,260, but climbed as high as $1,270 mid-week. It was not such a […]
Shining Week for Gold as Dollar Index Is at Year Low The dollar index is at year low this week. The last time it was this low was June of last year, and it’s currently in a two week losing streak. Gold was up all week, and closed the week just shy of the $1,270 […]
Quiet Mid-Week, But Gold Added on Last Week’s Gains With a rally this week, gold added on last week’s gains. The week opened at $1,234 and closed at $1,253. Silver opened the week at $16.15 and closed at $16.54. Although metals were trading fairly quietly during the middle of the week due to lack of […]
A Cryptocurrency Backed By Gold? Sure Makes Sense, Doesn’t It? Cryptocurrencies like bitcoin have experienced massive rallies recently as a possible, alternative safe haven investment. Are Gold and Cryptocurrency forming a New Relationship? Naturally, a cryptocurrency such as Bitcoin brings inherit fears of instability and raises questions from investors. This being mainly because the “currency” […]
Gold Prices Are Down Right Now – It’s a Prime Time to Buy When metals are low, it’s a perfect time to buy, and gold prices are down right now. This could be an important, new price bottom before the next rally. If you have been waiting for the right moment to get in, this […]
How Are Global Tensions Going to Affect Gold? Gold had some pull back at the start of the week, but closed out the week making back some gains. However, going forward, there are global tensions going to affect gold, most likely. Although lately gold has at times been fairly quiet on the volatility trade, there […]
Gold Retreats after Fed Raises Rates a Quarter Point This week gold retreated from its rally following the Fed announcement Wednesday that lifted rates a quarter point. Gold still looks safe long term, however, and made back some small gains Friday as the dollar index experienced some weakening. The dollar index strengthened Wednesday following the […]
Gold Is at 7 Week High on Weak Dollar Index, Nearly Reaches $1300 This week, gold is at 7 week high on weak dollar index (among other driving factors). Gold prices started out the weak with a rally climbing over $1,290, however it pulled back some on Thursday and Friday. The dollar index was up […]