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Credit Suisse Says Governments Are Discouraging Gold Holdings – And What It Misses

"In a globalist, technocratic society, civil society arises as a kind of negotiation between the demands of the state and the desires of its citizens. But in reality this is an entirely unequal discussion, as the state intends to impose its demands by force. What Credit Suisse and other firms are missing, however, is that the current arrangement is an unstable one that arrogates more and more power over time to the state. If citizens in various repressive states are hoarding gold, it is because they don't trust government-run currencies. Perhaps they hoard gold as well because taxes are continually rising and because price inflation is out of control." Continue reading →

Continue ReadingCredit Suisse Says Governments Are Discouraging Gold Holdings – And What It Misses

Bernanke Said to Minimize Asset-Bubble Concern at Meeting

"The Fed chairman brushed off the risks of asset bubbles in response to a presentation on the subject from the group, one person said. Among the concerns raised, according to this person, were rising farmland prices and the growth of mortgage real estate investment trusts. Falling yields on speculative- grade bonds also were mentioned as a potential concern, two people said. The 'first line of defense' if bubbles emerge 'needs to be regulatory and supervisory' actions rather than changes in monetary policy, according to Bernanke." Continue reading →

Continue ReadingBernanke Said to Minimize Asset-Bubble Concern at Meeting

Minting Pennies & Nickels Cost U.S. Taxpayers $436 Million Since 2006

"Pennies and nickels have cost more than their face value to mint since 2006, resulting in a loss of at least $436 million to U.S. taxpayers. The CHART OF THE DAY shows that in 2012, the penny cost almost 2 cents to make and the nickel more than 10 cents, according to the U.S. Mint’s annual report released in January. Those prices have almost doubled over the past seven years. American lawmakers seeking a model need not look beyond the Royal Canadian Mint, which stopped distributing pennies to financial institutions on Feb. 4, saving C$11 million ($11 million) annually. The last Canadian cent was minted in May." Continue reading →

Continue ReadingMinting Pennies & Nickels Cost U.S. Taxpayers $436 Million Since 2006

Congress Asks Bernanke For Full Risk Analysis On Fed’s Soaring Balance Sheet

"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 →

Continue ReadingCongress Asks Bernanke For Full Risk Analysis On Fed’s Soaring Balance Sheet

The Herd: Wrong About Alaska, Wrong About Gold

"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 →

Continue ReadingThe Herd: Wrong About Alaska, Wrong About Gold

India bans gold jewellery from Thailand

"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 →

Continue ReadingIndia bans gold jewellery from Thailand

Arizona bill would make gold, silver coins acceptable forms of payment

"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 →

Continue ReadingArizona bill would make gold, silver coins acceptable forms of payment

Copper wire stolen from Sea-Tac runway lighting system

"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 →

Continue ReadingCopper wire stolen from Sea-Tac runway lighting system