How The Fed Has Failed America, Part 2

fedNo new business can borrow Fed money for zero interest. The only entities that can borrow the Fed’s free money are banks and other financial parasites.
The truth is the Fed incentivizes and rewards the most parasitic, least productive sector of the economy and forcibly transfers the interest that was once earned by the productive middle class to the parasites.   Though the multitudes of apologists, lackeys, toadies, minions and factotums of the Fed will frantically deny it, the inescapable truth is that the nation and the bottom 99.5% would be instantly and forever better off were the Fed closed down and its assets liquidated.
The only way to eliminate the financial parasites is to stop subsidizing their skimming and scamming, and the only way to stop subsidizing the financial parasites is to shut down the Fed.

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FOMC Minutes Answer Eric Sprott’s Questions Regarding Source of US Gold Exports!

Bernanke-Dimon-Fed-TunnelAhead of today’s FOMC statement (and in light of Eric Sprott’s 2nd installment of Do Western Central Bankers Have Any Gold Left?), we thought it a good time to recall a conversation between Alan Greenspan and others made at a December 1992 FOMC meeting in which key secrets were revealed regarding manipulation of the gold market by Western Central bankers.

As The Doc discussed with Eric Sprott in our recent interview, the US exported $4 billion in gold in December.   Eric pointed out that $4 billion is 2.5 million ounces of gold exported in a single month, when the US produces 8.8 million ounces annually.  Eric asked rhetorically where 2.5 million ounces of gold were coming from.
Courtesy Former Chairman Alan Greenspan and the minutes from a Dec 1992 FOMC meeting, we just may have the answer for Mr. Sprott… [Read more...]

Jim Sinclair: If Bernanke Leaves, the Jig is Up & A Monetary Mushroom Cloud is on the Horizon!

Jim Sinclair sent an email update to subscribers this afternoon regarding media reports that Fed Chairman Ben Bernanke will step down and retire when his current term expires in January of 2014.

Sinclair states that like former Chairman Alan Greenspan who retired immediately preceding the collapse of the housing bubble leaving Bernanke holding the bag, if Bernanke steps down a year from January, it will indicate a monetary mushroom cloud of EPIC PROPORTIONS looms on the immediate horizon and Bernanke has no tools to prevent it. [Read more...]