Tag Archives: gold

The U.S. Economy is Built on Papier-mâché and Politicians’ Promises

Thursday, 02 November 2017 05:32

This article was published by The McAlvany Intelligence Advisor on Wednesday, November 1, 2017:

What a perfect definition of the American economy! Papier-mâché is defined as a “composite material consisting of paper pieces of pulp, sometimes reinforced with textiles, bound with an adhesive such as glue, starch, or wallpaper paste.” Add in a dose of political promises that everyone knows cannot be kept – not even close – and we have the American economy.

From a distance it looks pretty good. More than pretty good: to the untrained eye the American economy is setting world records, to wit:

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If Dudley is Right, Then Let’s Pray for the Flooding of the Entire Country!

Tuesday, 12 September 2017 05:37

This article was published by The McAlvany Intelligence Advisor on Monday, September 11, 2017:

Cover of "The Emperor's New Clothes"

Cover of The Emperor’s New Clothes

Taken to its logical conclusion, William Dudley, the president of the Federal Reserve Bank of New York, thinks a flood covering all of the United States would stimulate the economy. Several sources confirmed that this is what Dudley said on Friday in an interview at CNBC concerning the economic effects of hurricanes Harvey and Irma:

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Hurricane Harvey, President Trump Putting More Pressure on Venezuela

Monday, 28 August 2017 05:35

This article appeared online at TheNewAmerican.com on Sunday, August 27, 2017:

Embed from Getty Images

On Friday President Donald Trump once again ramped up sanctions against Venezuela’s Marxist dictator, shutting off his ability to sell new debt or equity in the U.S. financial markets. On Saturday, Hurricane Harvey, the worst hurricane to hit the Gulf Coast in 50 years, has all but sealed Maduro’s fate.

Following Maduro’s installation of his illegal “constituent assembly” in July, President Trump placed sanctions on Maduro himself, freezing any and all of his assets lying within American jurisdiction. A week later Trump added a few of Maduro’s cronies to that list, and on August 9 he added a few more. At the time The New American expressed skepticism that they would have any effect on Maduro’s obstinacy and determination to continue policies that have caused Venezuela’s economy to shrink by 35 percent just since 2014.

On Friday the Trump administration broadened those sanctions to include

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Let Time and Not Sanctions Remove Venezuela’s Marxist Dictator

Saturday, 12 August 2017 05:27

This article was published by The McAlvany Intelligence Advisor on Friday, August 11, 2017:

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The Free Dictionary’s attempt to define the idiom “patience is a virtue” almost perfectly fits the personality style of America’s president:

Fred: The doctor has kept us waiting for half an hour! If he doesn’t call us into his office pretty soon, I may do something violent!

Ellen: Calm down, dear. Patience is a virtue.

One is tempted to change Fred’s name to Donald!

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Additional Sanctions by United States Proving of Little Value in Venezuela

Friday, 11 August 2017 05:39

This article appeared online at TheNewAmerican.com on Thursday, August 10, 2017:

Nicolas Maduro

Nicolas Maduro

The U.S. Treasury Department slapped sanctions on another eight Venezuelan government officials on Wednesday, bringing the total now to nearly 30. This is a partial fulfillment of a promise by the Trump administration to sanction everyone involved in the establishment of the fraudulent Venezuelan “constituent assembly” sworn in on Tuesday.

Included among the eight is Adan Chavez, the late Marxist President Hugo Chavez’ elder brother, who now serves in the new assembly as secretary of its presidential commission.

In making the announcement, Treasury Secretary Steven Mnuchin said,

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A Tipping Point in Texas? It’s Building Its Texas Bullion Depository Bank

Friday, 06 May 2016 10:15

This article was published by The McAlvany Intelligence Advisor on Friday, May 6, 2016:

Description: Newspaper clipping USA, Woodrow W...

Description: Newspaper clipping USA, Woodrow Wilson signs creation of the Federal Reserve. Source: Date: 24 December 1913 (Photo credit: Wikipedia)

A modest bill, getting little press and clothed in innocuous terms, could spell the end of the Federal Reserve’s monopoly on its “federal reserve note” currency. When Texas Governor Greg Abbot signed it into law almost a year ago, he said:

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Texas Contracts to Build Nation’s First State Gold Bullion Depository

Friday, 06 May 2016 05:32

This article appeared online at TheNewAmerican.com on Thursday, May 5, 2016:

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The Texas Comptroller’s Office has begun to receive bids from private contractors interested in building the country’s first state gold storage facility, the Texas Bullion Depository (TBD). When Texas Governor Greg Abbott signed into law the bill providing for it last July, he said it was all about saving fees being paid to store the state’s gold in New York banks:

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Stocks to Fall Further, Say Market Bears

Thursday, 27 August 2015 05:17

This article was published by The McAlvany Intelligence Advisor on Wednesday, August 26, 2015:

View image | gettyimages.com

Marc Faber, the bearish financial commentator from Thailand whom financial talking heads in the media love to hate, really doesn’t care what people think. He’s old enough to know his own mind (he’s 69), and he’s been right often enough that his opinions carry plenty of weight. He’s also a curmudgeon. In his June 2008 newsletter, following the arrival of $600 “stimulus” checks in everyone’s mailbox, Faber wrote this, belittling the idea that much if any of that free money would help stimulate the US’s moribund economy:

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Swiss Issue an Unequivocal Buy Signal for Gold

Saturday, 06 December 2014 06:40

This article first appeared at The McAlvany Intelligence Advisor on Friday, December 5, 2014:

#185920843 / gettyimages.com

Rarely do the precious markets receive such an unequivocal, unblemished, unalloyed buy signal as the one issued by the Swiss when they voted down, 3-to-1, a referendum that would have modestly restricted the activities of its central bank.

Months earlier, polls showed that the “Save Our Swiss Gold” initiative was likely to pass, but massive publicity campaigns and moves by Citigroup to cash in on it caused a huge shift in public sentiment, with the final vote on Sunday, November 30 defeating it by a 78-22% margin.

The Swiss, being a direct democracy, are known for referendums, voting on an average of five of them every year, with most of them failing. But this one caused rejoicing among observers and Swiss National Bank (SNB) officials that likely put in a bottom in the gold market. Had it passed, the referendum would have required the SNB to

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Swiss Bank Referendum Fails, Franc Drops

Friday, 05 December 2014 06:25

This article first appeared online at TheNewAmerican.com on Thursday, December 4, 2014:

Banknotes of the Swiss franc

Banknotes of the Swiss franc

The Swiss voted down the initiative “Save Our Swiss Gold” on Sunday, November 30, by a margin of three to one, rejecting efforts to shore up the Swiss National Bank’s (SNB) balance sheet. Switzerland, a direct democracy, entertains an average of five such referendums every year, and most of them fail. This initiative would have required the SNB to boost its gold bullion holdings from its current eight percent level to 20 percent over the next five years. It would also have required the central bank to repatriate its foreign-held gold reserves, while prohibiting it from ever selling any of those reserves in the future.

When first proposed, speculators bought the Swiss franc cheap, hoping to sell it dear if the initiative passed. Investors in gold were holding their breaths as well, noting that

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Federal Reserve Notes Soon to Become Irrelevant in Oklahoma

Monday, 09 June 2014 14:07

This article first appeared at The McAlvany Intelligence Advisor on Monday, June 9, 2014:

Republic of Hawaii Banknote for 20 gold dollar...

Republic of Hawaii Banknote for 20 gold dollars, 1895. (Photo credit: Wikipedia)

Something that the lamestream media missed entirely happened on Wednesday, June 4, in Oklahoma: the governor signed into law a bill affirming what is already guaranteed to each state in the US Constitution: that gold and silver coin are legal tender. Historians looking back may recall that day as the day the Federal Reserve’s hegemony over money ended.

Article I, Section 10, the U.S. Constitution states simply that

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Oklahoma is the next state to Affirm gold and silver as Legal Tender

Friday, 06 June 2014 08:55

1907 Double Eagle, Liberty Head, Obverse

1907 Double Eagle, Liberty Head, Obverse (Photo credit: Wikipedia)

On Wednesday, June 4, Oklahoma joined Utah, Texas and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the state. On the surface this seems almost silly: affirming a right that already exists in Article I, Section 10 of the U.S. Constitution. But it is much more than that.

Senate Bill 862 which Oklahoma Governor Mary Fallin signed into law this week says:

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Controversial Harvard Professors predict high inflation and defaults for the US

Friday, 17 January 2014 11:51

The two Harvard professors who made themselves famous, and then infamous, are at it again, now predicting that America will soon be forced to

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As Bitcoin prices increase so do concerns

Saturday, 30 November 2013 04:53

With the price of a single Bitcoin exploding by 4000% just since January and by 400% in the last month, concerns about its legitimacy as a viable internet money that could effectively serve as an alternative to central banks’ currencies are increasing.

The Bitcoin has morphed from an internet algorithm to legitimacy beginning in August when

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Treasury Refuses to Sell Its Gold Even in the Event of Default

Friday, 04 October 2013 12:02

It took more than six months for the Department of the Treasury to answer Utah Republican Senator Orrin Hatch’s questions about how the Treasury would respond to a government shutdown or the failure of the Congress to raise the debt limit. But its response is revealing:

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House Bill Offered to Study “Real World” Effects of Fed Policy

Friday, 27 September 2013 11:19

In anticipation of the upcoming 100^th anniversary of the Federal Reserve on December 23^rd, House member Kevin Brady (R-Texas) and Chairman of the House’s Joint Economic Committee, decided back in March to offer a bill to create a commission to

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Trayvon Martin was no innocent

Sunday, 21 July 2013 15:23

On Friday President Obama, in an informal briefing in the Rose Garden instead of the usual press room of the White House, reiterated his earlier statement that Trayvon Martin, the victim in the Sanford, Florida shooting in February 2012, “could have been my son.” Said Obama:

You know, when Trayvon Martin was first shot I said that this could have been my son. Another way of saying that is Trayvon Martin could have been me 35 years ago.

And then he expanded on his remarks

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Central Banks’ bubble is bursting, sending markets down worldwide

Thursday, 13 June 2013 11:42

When the Japanese stock market lost more than 6 percent of its value on Wednesday in a massive selloff, pundits jumped on the move to try to explain what happened, and what it all means. Evan Lucas, a market strategist at IG Markets, wrote:

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This is an amazing admission.

Monday, 29 April 2013 08:14

[To] conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game.

We found this out in recent months, when

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Gold, Germany and the worldwide recession

Wednesday, 24 April 2013 06:40

It’s unnerving and yet comforting when a worthy such as Bill Bonner agrees with me. What’s more likely is we’re both singing off the same sheet of music. In Monday’s newsletter Bonner titled his entry “The Recovery That Never Happened,” and I agree. Whatever green shoots (remember green shoots, the ever hoped-for, greatly anticipated but never sustained recovery from the Great Recession?) appeared have withered away, leaving the US, Germany and the world with

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