Barack Obama and Tim Geithner’s recent ramped-up rhetoric towards China as a “currency manipulator” indicates the Obama administration may show more aggression towards China than Bush. From the owner of the Petro-Dollar no less, and as the Federal Reserve has openly confessed to manipulations in the FOREX (foreign exchange) markets since 1961, this is both hypocritical and privately probably more amusing to America’s central bankers than anything else.  FULL ARTICLE

Ever-higher doses of government intervention will not solve the trouble brought about by government intervention in monetary affairs. Any attempt to do so would increasingly erode what little is left of the free societal order – already greatly damaged by the consequences of a government-sponsored monetary regime. FULL ARTICLE

Despite the powerful attempts of governments to eradicate gold’s role in monetary affairs, the free market price has risen continuously.  Today, although the possibility of global depression act as a head wind, the existence of an “above market” premium for fabricated gold, may foretell a major threat to the credibility of paper currencies, a major U.S. dollar devaluation and a consequent strong rise in the price of gold in the months ahead.  FULL ARTICLE

Peter Schiff on the Economic Crisis that’s coming our way.

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One of the few things more troubling for an economy than government intervention is government intervention driven by panic. Time and again, history has shown that when governments rush to engineer solutions to pressing problems, unintended difficulties arise.  FULL ARTICLE

In my humble opinion, physical gold at today’s price is dirt cheap financial insurance and physical silver is super dirt cheap. One word of caution though: please do not expect to get rich by saving gold or silver. However, in the long run these silly feeble-brained Keynesians are barely able to think ahead more than a week these days, try thinking 5, 10 years gold and silver will protect your purchasing power. The paper Dollar, the paper Euro, the paper Whatever will not.  FULL ARTICLE

The purpose of the following is to argue that the “gold standard,” as understood by most of the public, did not cause or worsen the Great Depression as current FED Chairman Ben Bernanke has based many of his papers, speeches, and, to a large extent, his entire career on. In our contemporary times, I do believe this blame must be firmly rejected and monetary policy should, at the very least, be debated in a national forum. Indeed many other economists, such as the Friedman family, Anna Schwartz, Alan Greenspan, and Jeffrey “Shock Doctor” Sachs, have all propagated this lie.  FULL ARTICLE

It appears to be a perfect storm shaping up, although it not yet outside the grasp of short-term government manipulation, especially if there is the hint of a panic, or “gold fever” developing. The price of gold and silver are both up as both metals are in (temporary for now) backwardation, but the price does not have a high degree of relevance. All eyes are on the gold basis will probably drive the price which you can learn about by reading the below mini-series. FULL ARTICLE

Backwardation is the sign of a very tight market, and a market that will be tight for sometime into the future – either 1) current supply is very tight, 2) future supply is projected to be very tight, or 3) there is a severe distrust in counterparties – that the short positions can deliver the goods on time per the contract, or vice versa that the long positions will not have the cash. FULL ARTICLE

When the price of gold finally skyrockets, the State, of course, will most likely crack down, blame, and seek to suppress the gold “speculators.” However, it is important to note that actually what will occur is NOT the price of gold skyrocketing. The grams of gold one holds in their pocket before and after this event will not change at all.  Same with the dollars you own. What is actually occurring is the PLUMMET in the value of exchange of the dollar and other fiat currencies for goods and services .  FULL ARTICLE