Barely a day goes by anymore when even the mainstream media can ignore the inanity of the Obama administration and policies and attitudes that are destroying the U.S. dollar and leading the world back to the brink of economic calamity. Consider this report from this morning on CNBC, quoting a forecast from “Dr. Doom,” Marc
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Before Nixon’s Executive Order on August 15, 1971, it was possible to exchange $35 in American currency for one Troy ounce of gold. His decision basically killed the US gold-standard currency and replaced it with a fiat currency that has no guaranteed convertibility. Ever since then currencies, including the dollar, have had to float in
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What’s Driving The Price? Standard and Poor’s, a well-respected financial services company, downgraded its long-term credit outlook for the U.S. from “stable” to “negative”. This was in response to the U.S. deficit and debt, coupled with skepticism about whether or not policy makers will find an effective way to address these long-term economic issues. Oil prices and
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The real value of the gold standard was explained clearly in an essay by young economist,Alan Greenspan, the man who much later became the Chairman of the Federal Reserve. “In the absence of the gold standard there is no way to protect savings from confiscation through inflation,” wrote Greenspan. Without a gold standard, there is
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Throughout the months since my last post about the delivery practices at FAMC, I have continued to receive emails with requests for help from innocent people who found this blog, who had bought metals from FAMC and have not received them. I have continued to help them, and pray that Bates would correct his ways.
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According to a recent report by Jason Hamlin, the state of Virginia is considering adopting silver and gold as their alternative currency to the dollar. Amidst rumors and predictions of a collapse of the Federal Reserve System, a joint subcommittee may be established to determine if Virginia should proceed. The FED does not back the
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According to Dr. Martin Weiss, Ph.D. on January 12, 2011, “the U.S. Treasury announced that our government added another $80 billion to the cumulative budget deficit in December.” And this appears to be the good news. Because of the tax relief package passed in December by the White House and congress it looks like even
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Gold has reached an all-time high price o over $1,300 an ounce, and there’s no sign that it will stop there. Why is this happening, and how can you benefit from it? As I told initial readers of this blog several months ago, and have been telling my precious-metals clients for years: Gold’s rise was
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This is one of the stupidest headlines I have ever read. It’s like saying, if you can’t afford to fix your house go ahead and do it anyway as long as you can get a loan. That is beyond ridiculous. What the government needs to do is cut spending, pay off the national debt and
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Don’t be surprised, but a growing number of secular financial experts are warning about the Obama administration’s de facto devaluation of the dollar – and the investment implications of it. “As new trillions of dollars are created by the Fed, the dollar is under  ‘stealth devaluation,’” says Richard Russell at DailyCrux. “ In the choice between
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