Mint: U.S. bullion coin demand still at ‘unprecedented’ levels

"Demand for U.S. gold and silver bullion coins is still at 'unprecedented' high levels almost two months after an historic sell-off in gold released years of pent-up demand from retail investors, the head of the U.S. Mint said on Wednesday. His comments are likely to allay concerns among some traders that frenzied buying by mom-and-pop investors since mid-April after prices plunged to two-year lows had started to fade. Their interest has helped prices recover to above $1,400 an ounce, providing key support to prices after institutional investors fled the futures market and exchange-traded funds." Continue reading

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Former ‘Plunge Protection Team’ Official: Expect More Government Theft

"Look, we are in a world where every major industrialized government doesn’t have the funds to deliver on the promises they’ve made to the public. So they are going to reach for the public’s cash in different ways....Some of it is through higher taxes. Some of it is what I would call ‘expropriation,’ although taxation and even inflation are a version of that. I think what we saw in Cyprus, a really overt expropriation, we are going to see that come in lots of different forms (going forward). Some of it will be obvious like Cyprus. Some of it will be subtle like Portugal, but what’s sure is that it’s happening.” Continue reading

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What Don’t We Understand at This Point About Economics and Unemployment?

"The employment-population ratio has barely changed in three years, showing that 58.6% of U.S. adults over age 16 had a job as of April. Forget the unemployment rate. The employment rate – the percentage of adult Americans who hold a job – has barely budged in the past three years. It's hovering near its lowest level in three decades, and it's unlikely to improve when the Labor Department releases its May jobs report on Friday." Continue reading

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U.S. States Push to Bring Back Gold Standard

"More than a dozen states have introduced laws to recognize gold as legal currency. If the bill gets the governor's signature, Arizona will be the second state to legally consider gold as legal tender. Supporters of going back to the gold standard say the system is preferable to the Federal Reserve and Ben Bernanke's monetary policies. On the 80th anniversary since the Gold Standard in the U.S. was abolished, RT Correspondent Liz Wahl reports on the rush get back to gold." Continue reading

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Lies the IMF Tells

"The International Monetary Fund has published a scathing internal self-assessment of its bailout of Greece three years ago. It isn't pretty. The IMF underestimated the damage that fiscal austerity would do to the Greek economy in its earliest rescue of the nation in 2010. It was too slow to promote a write-down of the nation's debts to more sustainable levels. And it was compromised by a sometimes unwieldy partnership with major European institutions in what became known as the 'troika.' The IMF could have handled its 2010 bailout of Greece quite a bit better, a staff review found." Continue reading

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The Problem of Leviathan

"The Internal Revenue Service, already under fire after officials disclosed that the agency targeted conservative groups, faces increased scrutiny because of an inspector general's report that it spent about $50 million to hold at least 220 conferences for employees between 2010 and 2012. The report by the Treasury Department's inspector general about conference spending is set to be released Tuesday. The department issued a statement Sunday saying the administration 'has already taken aggressive and dramatic action to reduce conference spending.'" Continue reading

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Former Mexico president calls for marijuana legalization

"Ex-president Vicente Fox says Mexico should legalize marijuana to steal business back from violent drug cartels — and when it’s legal, he’s in (as a grower). 'Once it is legitimate and legal, of course, I do some farming. I can do it myself,' the conservative former leader said from his ranch in San Francisco del Rincon. Fox, a former Coca-Cola executive who was president from 2000-2006, surprised many when he was among early voices in Mexico calling for illegal drugs to be legalized, seeing it as the only way to break the cycle of violent crime. 'Mexico should become an authorized producer, and export marijuana to places where it is already legal,' argued Fox." Continue reading

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Stockholm’s unrest stoked by unemployment

"Although the social democratic government did succeed in creating more affordable housing by the mid-seventies, little else went to plan. Middle-class Swedes moved out, and when the country in the past decade welcomed hundreds of thousands of asylum seekers from Iraq, Afghanistan, and Somalia, among others, the apartments they were allocated were often in areas like Husby. Housing segregation is often named as one of the reasons it takes the average immigrant to Sweden years, not months, to find work. Even among the second generation, many say they rarely make it to a job interview." Continue reading

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Bill Bonner: Fed’s policies are bringing poverty

"The Panic of 1907, before all these 'protections' were put in place, was over in 3 months...followed by full employment. The Crash of 1921 took longer - about 18 months - but when it was over anyone who wanted a job could find one. But now, we've been in the Great Correction for 5 years. Millions of people have given up; they're no longer even looking for work. And suicide has replaced car accidents as the number one threat to working-age Americans. You want to reduce the rate of suicide? Eliminate the barriers to saving, capital formation and employment." Continue reading

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