(CNSNews.com) -- An economic analysis sponsored by the National Retail Federation (NRF) shows that a Value-Added Tax (VAT) would damage economic growth and kill hundreds of thousands of jobs. The study showed that a large reduction in federal spending would be better for the economy.
The NRF study was conducted because President Barack Obama's Fiscal Commission, which is scheduled to issue its first report soon, ... (more)
The trouble with chasing performance is that you often join the party too late. Yet gold continues to defy the odds and if the great and the good of the investment world are to be believed, the gold price has further to go.
Last week, the analyst rated the most accurate forecaster of the gold price said the precious metal would keep rising.
Jochen Hitzfeld, an analyst at UniCredit, the Italian bank, has been rated by Bloomberg, the news agency, as the most accurate... (more)
Goldman Sachs expects the dollar to plummet following another round of quantitative easing and has raised its forecast for the gold price to $1,650 per ounce within the next 12 months.
Much of the content of the latest Fed statement, released on September 21, echoes the central bank's previous post-credit crunch pronouncements: there is still too much slack in the economy, interest rates are still going to be near-zero for an "extended period," and the Fed will continue to use payments from its Treasury purchases to buy yet more Treasuries.
But this recent statement uses a new turn of phrase that should have Americans very upset. The Fed says that ... (more)
Global markets are heading for an “important turning point” as interest rates begin to rise within about three months and the U.S. dollar gains, according to investor Marc Faber.
Investors should buy stocks and sell cash and bonds because governments are continuing to print too much money and may create a new “credit bubble,” Faber, publisher of the Gloom, Boom & Doom report, told reporters during a forum in Seoul today.
“Instead of interest rates going down, they c... (more)
Libertarian icon and perennial FBN’s Freedom Watch guest Rep. Ron Paul visited the program once again to talk pleasantries with host Judge Andrew Napolitano– namely, the imminent threat of revolution and Soviet-... (more)
Gary North of Lewrockwell.com wrote an excellent, if not inflammatory, piece on Ellen Brown titled "Cheerleader for Hitler's Economics." In the piece he details how Ellen Brown advocates Hitler's economics, namely a total fiat money standard where the government can print up money at will to sate whatever desire it pleases.
This is part of so-called "greenbacker" economics. It's extremely dangerous because it's enti... (more)
Here is Ellen Brown's response to Gary's article, she doesn't really address anything.
For the record, I have nothing against Ellen nor Bill Still, I don't know either, I just completely disagree with their economic theories and think their solutions are just as bad as the current fiat system, if not worse. I think embracing fiat money and saying it can be printed at will is promising someone something which doesn't exist.
Does fiat money help the government?
Absolutely, it helps it steal wealth from the private sector so they can waste it on social engineering and bombs for killing foreigners, but that doesn't mean it creates even a dime of wealth.
While perhaps Gary's article was a bit inflammatory, I do think having the correct economic theories are very important (and good intentions count for nothing).
In her response, she says basically lets all work together because we have a common enemy, that's all fine and dandy, but I do think when someone is advocating a wrong theory, such as gold is somehow evil and controlled by the bankers but fiat money is wonderful and 'of the people,' the truth needs to be discussed.
These issues are absolutely paramount. I think, to a large extent, the liberty movement has already won the war and the most important issue now is what system will replace this one when it collapses. Fiat money creates fascism, there is no "limiting" its power nor having the government "only print so much." - Chris, InfoLib
It was on the looming fiscal crisis of the Federal government. There will be no easy way to avoid it, he said. Congress has to decide what spending to cut. This means that Congress must decide which special-interest groups to alienate. Then it must decide which taxes to raise. Who... (more)
This is very interesting, he says Bernanke signaled they are not going to hyperinflate, I highly doubt this is the case but it's interesting none-the-less.
WSJ: “As the U.S. economy struggles and flirts with the prospect of deflation, some central bank officials are publicly broaching a controversial idea: lifting inflation above the Fed’s informal target…. Both inside and outside the Fed, though, such an approach is co... (more)
If you still have a job and you can put food on the table and you still have a warm house to come home to, then you should consider yourself to be very fortunate. The truth is that every single month hundreds of thousands more Americans fall out of the middle class and into poverty. The statistics that you are about to read are incredibly sobering. Household incomes are down from coast to coast. Enrollment in government anti-poverty programs sets new records month after month after month. H... (more)
Just vote for democrats or demopublicans or whoever, that'll fix everything.
NY Fed President William Dudley's outrageous statements today closely conform to recent pronouncements from other Fed officials and confirm that a massive round of dollar devaluation is poised to begin.
Seemingly overnight, the Fed appears to have altered its mandate, ditching its former goal of "price stability" in favor of "moderate price inflation." While no one is under the illusion that the Fed has kept prices stable over the last century, it used to be t... (more)
JPMorgan has reopened an underground gold vault in New York that was mothballed in the 1990s, in the latest sign of the soaring appetite for bullion...
Many commercial banks dismantled their vaults in the 1980s and 1990s. But now they are rushing to build: JPMorgan recently built a vault in Singapore, while Deutsche Bank and Barclays Capital are considering opening new vaults i
