Tag Archives: federal reserve

Central banking is financial terrorism

Banking building

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a ... Read More »

House approves Ron Paul’s ‘Audit the Fed’ bill

Audit-the-Fed-Paul-Broun

Former Rep. Ron Paul’s push to audit the Federal Reserve got another boost Wednesday when the House passed the bill for the second time in three years, and by a bigger margin than before. The bill, now sponsored by Rep. Paul Broun, Georgia Republican, was approved on a 333-92 vote, with all but one Republican and 106 Democrats in favor of it. That’s ... Read More »

Germany gives up on getting their gold back

German gold

Germany’s plan to bring back the nation’s gold reserves to Frankfurt by 2020 has fizzled, and instead has for now decided to leave $635 billion of gold in US vaults. Home to the world’s second largest gold reserves, worth $141 billion, Germany only keeps about one third of its gold ‘at home’, the rest is abroad. 45 percent is in ... Read More »

Rand Paul: Audit the Fed or I will hold up nominees

Rand Paul

United States Senator Rand Paul (R-Kentucky) says he plans to hold the appointment of three new likely members of the US Federal Reserve unless colleagues in Congress hold a vote on auditing the Fed. A long-time opponent of the central bank, Paul wrote Senate Majority Leader Harry Reid (D-Nevada) informing him of his plans to stall the nomination process for the new ... Read More »

Fed to taper another $10 billion in QE

Janet Yellen

Janet Yellen’s first FOMC statement is out: Fed tapers another $10 billion/month beginning in April. Beginning in April, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $25 billion per month rather than $30 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $30 billion per ... Read More »

Ukraine’s gold reserves sent to NY Federal Reserve

Gold Ukraine

A curious story, and one which should be taken with a mine of salt, has surfaced out of the pro-Russian newspaper Iskra, which reports – so far on an entirely unsubstantiated basis – that last Friday, in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to ... Read More »

Why banks are no longer needed

Bank

What else can we do with the $1.25 trillion we’ll save by eliminating these obsolete financial middleman parasites? A lot. Technology has leapfrogged the banking sector, rendering it as obsolete as buggy whips. So why are we devoting 9% of our economy to an obsolete parasite?  Financial sector profits now total a staggering 4.5% of GDP (gross domestic product), while ... Read More »

Harvard Economist fears bank runs are coming very soon

Bank run

Former Harvard Professor of Economics Terry Burnham fears starting a “run” on Bank of America after he made public his decision to withdraw $1 million dollars from his checking account as a protest against Janet Yellen beginning her term as Federal Reserve head this month. In an article for PBS entitled Is your money safe at the bank? An economist ... Read More »

Why Germany won’t get it’s gold back from the FED

german gold

What does Germany requesting the return of its gold from the Federal Reserve have to do with you? Glenn Beck argued on his radio and television programs Wednesday that if what he suspects is true, it could bring about an unprecedented financial crash on a global scale. His radio co-host Pat Gray described it as potentially “cataclysmic.” “Subprime crisis, do ... Read More »