"In a letter penned by the Chairman of the House Oversight & Government Reform Committee, Jim Jordan, says that he is 'troubled by the corresponding effect that the Federal Reserve's expanding portfolio could have on current and future economic growth' and has asked the Fed what its 'future plans to unwind the [$3 trillion and rising at $885 billion per month] portfolio' are." Continue reading →
"My message lately has been very simple: buy low. And do it now. The essential formula for investing, as you know, is to buy low and sell high. So easy to say, so hard to do. It takes real mettle to be a successful contrarian, and it's precisely because so many investors are so nervous about our market today that it's a buyer's market. Let me digress for a crucial, relevant sliver of history." Continue reading →
"Widely followed investment broker and gold bull Peter Schiff challenges gold bear Tom Kendall of Credit Suisse." Continue reading →
"In a fresh clampdown, India has officially banned the import of gold jewellery from Thailand. The authorities suspect that Indian importers are misusing the duty free pact with Thailand to import bullion from the South East Asian nation. The commerce ministry has recommended suspension of gold jewellery imports from Thailand in view of the increasing imports from the country. For some time now, the government has been looking to bring down imports of the precious metal into the country and has added several stages of import duties." Continue reading →
"It used to be the main exchange currency in Europe, but soon after WW1 governments ditched it. Now, amid turbulent financial times and economic woes, gold is fashionable once more, as RT's Peter Oliver explains." Continue reading →
"Arizonans who fear the federal government will make their folding money worthless may soon be able to substitute privately minted gold and silver coins. The measure is crafted to get around a provision of the U.S. Constitution which bars states from minting their own coins. But supporters also note it says that states cannot 'make any thing but gold and silver coin a tender in payment of debts.' That, they contend, permits states to recognize coins minted by others. Crandell said the ultimate bottom line is a lack of confidence in the dollar -- or at least the real value of the dollar, what with the Federal Reserve Bank continuing to print new money." Continue reading →
"Thieves stole 1,000 feet of copper wire last week from the lighting system that helps planes land in low visibility at Sea-Tac Airport. The FAA said the wiring was taken from the approach light system for Runway 34L. It’s part of the runway’s Instrument Landing System. There have been no flight delays as a result. Work is under way to replace the wiring. The system is expected to be back online early next week. There was no indication if there are any suspects in the case." Continue reading →
"You may not be able to get a letter from the U.S. Postal Service on Saturdays, but you will be able to get fashionable new apparel. The cash-strapped post office plans to release a 'Rain Heat & Snow' clothing and accessory line. CNN reported that the Postal Service is teaming up with Cleveland-based Wahconah Group, which will design the clothing and accessories. The Rain Heat & Snow line should have something available for men by spring 2014, CNN said. A women's line also is being planned. CNN said the fashion line will be sold in department and specialty stores." Continue reading →
"The U.S. Postal Service is set to announce that it will discontinue Saturday mail delivery in a cost-saving measure that is expected to save the agency up to $2 billion per year. According to the Associated Press, package delivery will continue six days a week, but regular mail will be limited to Monday to Friday delivery. The changes are slated to take place in August. Under the new plan, Saturday delivery to post office boxes will continue and post offices that are currently open on Saturdays will remain open." Continue reading →
"A depressed Florida man shot his wife and two children before killing himself after closing his hot air balloon business and facing losing his job as a Federal Aviation Administration (FAA) inspector because of automatic budget cuts known as 'sequestration.' A source told CBS News that 45-year-old Carlos Zuniga was depressed in the weeks before he shot his wife 43-year-old wife, Michelle, his 14-year-old daughter, Lauren, and his 11-year-old son, Stefan. Carlos Zuniga then killed himself. Stefan Zuniga died at Jackson Memorial Hospital’s Ryder Trauma Center on Thursday morning. Both the wife and the daughter were in critical condition." Continue reading →