July 24, 1998, was an epic day for the global financial system. Federal Reserve Chairman Alan Greenspan stood before Congress’s Banking and Financial Services and testified. This article and the next part will focus on these two testimony excerpts concerning derivative regulation and the gold market. FULL ARTICLE

The US economy as we know it has collapsed. This has happened before, twice, and history is repeating itself again. This is the Third Depression the United States has suffered, and it will be the worst. FULL ARTICLE

If the world population widely understands the above and begin to both acquire the physical metal and clamor for the restoration of gold and silver as honest money, governments and central bankers could very well lose what is amounting to a stranglehold over the global economy. The world would realize that central banks are not needed whatsoever.  FULL ARTICLE

He’s back and in denial in a March 11 Wall Street Journal op-ed headlined: “The Fed Didn’t Cause the Housing Bubble.” He lied, the way he did throughout his career and for 18.5 years as Fed chairman. How else could he have kept the job, be knighted in the UK for his “contribution to global economic stability, wisdom and skill,” then afterwards be extolled by the Money Trust he enriched. FULL ARTICLE

Contrary to Greenspan, we can conclude that it is not long-term rates as such that fueled the bubble but the loose monetary policy of the Fed.  We can also conclude that the so-called savings glut in emerging economies had nothing to do with the last economic boom or the current economic crisis.  The only institution that can set in motion the expansion of money and a false boom is the Fed. FULL ARTICLE

Last week the Federal Reserve finally made clear what should have been obvious for some time – the only weapon that the Fed is willing to use to fight the economic downturn is a continuing torrent of pure, undiluted, inflation. The announcement should be seen as a game changer that redirects the fury of the financial storm directly onto our shores FULL ARTICLE

Last weekend, Ben Bernanke took an unprecedented gamble for a sitting Fed Chairman: he granted a long-form interview to 60 Minutes, America’s most watched news program. There can be no doubt that the interview came about as the result of a coordinated strategy between the Obama Administration and the Federal Reserve. But was the decision to offer the public a rare look at the inner workings of the central bank an act of resolution or desperation? FULL ARTICLE

In his eighteen year term as Fed Chairman, Alan Greenspan orchestrated the greatest expansion of speculative finance in history. Through it all, he presented himself as a disinterested economist, as a scientist quoting the laws of physics. He wasn’t. FULL ARTICLE

Ron Paul [R-TX] on February 26, 2009 introduced HR 1207, a bill to audit the Federal Reserve. For those who are not aware, the Federal Reserve is America’s quasi-private central bank and is currently not audited in any form or fashion that could be construed as meaningful or effective.

In the short 446-word bill found here, Representative Paul outlays the plan to enable the Comptroller General of the GAO (Government Accountability Office) to audit the Federal Reserve system before the end of 2010.  Per the Federal Reserve, “Monetary policy is exempt from audit by the Government Accountability Office.” - (page 15/146)  This audit should also include an audit of the Federal Reserve’s gold holdings. Continue reading →

Wouldn’t it be great to work for a company that “makes money”? This is, of course, exactly what the FED does. The FED, in effect, prints money out of thin air and buys US Treasuries debt obligations from its “primary dealers” companies like Goldman Sachs and JP Morgan Chase FULL ARTICLE