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Political & Economic News


US Debt is currently more than triple the US GDP and roughly 13 times greater than in 1980



Germany has got its gold back They must know something we don't "some argue the world's second-biggest bullion reserve "may be needed to back a new deutsche mark, should the euro zone break up."" CNBC

Paper Gold Dilution Hits 294x As Comex Registered Gold Drops To New All-Time Low "physical gold coverage ratio, or the ratio of gold claims to Registered gold, has just hit an all time high of 294 ounces of paper for every ounces of physical" ZeroHedge

Bank Deposits Will Soon No Longer Be Considered Money But Paper Investments "On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs." Economic Policy Journal

IMF gives China's currency prized reserve asset status "The decision to add the yuan, also known as the renminbi, to the Special Drawing Rights (SDR) basket alongside the dollar, euro, pound sterling and yen, is an important milestone in China's integration into global finances " Reuters

Fed Pushes for New Method After Final 1Q GDP Contracted by 0.2% "Now, elements in the Federal Reserve are pushing to make yet another adjustment to the methodology for calculating GDP in the wake of the Commerce Department report. Naturally, these "adjustments" will boost GDP measurements." People's Pundit Daily

Five global banks to pay $5.7 billion in fines over rate rigging "Each will plead guilty to one felony count of conspiring to fix prices and rig bids for U.S. dollars and euros in the foreign exchange spot market. Euro dollar traders at four of the banks described themselves as members of "The Cartel" and used an electronic chat room and coded language to manipulate exchange rates to increase profits" Reuters

Why Is JP Morgan Accumulating The Biggest Stockpile Of Physical Silver? "Since early 2012, JP Morgan's stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great investment." Investing.com

Gold Repatriation and The Monetary Crisis: Austria, Belgium and The Netherlands Want Their Gold Back "These four countries represent the core of the European Union. The EU is located in Brussels and the ECB is located in Frankfurt so the "power centers" (or financial centers) if you will are located within this "block" of countries, let's call them the "Nordic bloc". These four are the strength of the euro, they are the highest rated credits and for the most part they alone dictate policy. Is gold a western currency? Is it an eastern currency? No, gold is the ULTIMATE currency. This theory of a possible European breakup into northern and southern euros has more legs if Russia were to accept the new "Nordic Euro" for trade, but refuse the "Southern Euro"." Zerohedge.com

U.S. pension agency reports $62 billion deficit "it's running a $62 billion deficit almost double last year's shortfall and retirees "are likely to run out of money" in the next 10 years" U.S. Pension Benefit Guaranty Corporation

ECB effectively charging banks to hold reserves "In an unprecedented measure, the ECB cut its interest rate on deposits to minus 0.1% for the first time. A negative deposit rate implies that the ECB will now be charging the region's banks to hold onto their reserves, a situation that may spur banks to ramp up lending." USA Today

US Government Prints 560 Million Banknotes in April 2014 "560 million in $1s, $5s, $20sm $50s and $100s were made last month for a total value of $10.656 billion" Coinnews.net


Links to favorite Web sites

Freely Thinking

Gold Anti-Trust Action Committee

Mises Institute

Freedom Works

The CATO Institute

Daily Reckoning