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| 03.20.10- It Was a Wonderful Life
03.19.10- Money Out Of Thin Air: Now Federal Reserve Chairman Ben Bernanke Wants To Eliminate Reserve Requirements Completely?
03.18.10- Geithner other Treasury Officials Demand Secrecy at Public Briefing
Presently the Fed is fighting and pulling out all stops to halt legislation to audit the Federal Reserve, a private corporation, which has managed our monetary policy since 1913, under the Federal Reserve Act. On Monday the Treasury held a media conference for financial reporters and bloggers in which the Fed was discussed. The meeting had some very strange conditions. Read More
03.17.10- Better
to Light a Candle than to Curse the Darkness (Editors Note: One of the perks of editing "the Bear" allows me to post my own rants. I originally published Better to Light a Candle than to Curse the Darkness in August, 2003. When I consider the effect that energy requirements have on humanity, the fact that global energy resources are mostly under the control of the "Dark Side", and, therefore, not under my control, or yours. I get a little worried. - JSB)
In my attempt to determine "motives" I needed to ascertain the true meaning of "real wealth". I have come to the conclusion that besides hard assets, (real estate, factories, machinery, equipment, infrastructure, base metals, precious metals, natural resources, etc.), the only other source of "Real Wealth" comes as a result of human toil. Read More 03.16.10- The Federal Reserve: The Greatest Scam in History (revision C) the Yellen Effect
This resume belongs to a person who went to school, then to university as a student and then back to university. This is the resume of an overgrown school kid who has spent a lifetime acquiring many academic certificates from educational institutions along the way and stayed in the academic world pontificating on whatever took her interest. Now, unless you consider working for the Federal Reserve as a stint in the private sector, this lady has no experience whatsoever in working or running a real business. A mirror image of Ben Bernanke she has never mustered the courage to venture into the private sector and implement her theories for the benefit of an organization battling to survive and grow in the private sector. Read More
03.15.10- Opportunities to Profitably Escape Paper "Wealth" in 2010
"Greece is only the latest in a series of countries that have faced this type of crisis in recent memory. Not too long ago the same types of fears were mounting about Dubai, and before that, Iceland. Several other countries (Spain, Portugal, Ireland, Latvia) are approaching crisis levels with public debt as well. Many have strong ties to Goldman Sachs, and the case could easily be made that default could have serious implications for big US banking cartels. Considering the ties between the Fed and these big banks, it is not outlandish to wonder if the US taxpayer is secretly bailing out the entire world, country by country, even as our real unemployment tops 20 percent. Unless laws are changed to allow a complete and meaningful audit of the Federal Reserve, including its agreements with foreign central banks, we might never know if this is occurring or not." (emphasis added) - Rep. Ron Paul quoted in Casey Research Report, 2/18/10 Read More
03.13.10- And now, for something 03.12.10- The Paper Bubble But what is happening in Gold and what is going to happen in the near term future is a predictable consequence of fiscal and monetary policy. At this stage in time, Gold is simply a rational, undervalued and conservative investment. Cash is king during an economic depression. The problem is that our transactional currency is not real money, it is an illusion and the real bubble of the current cycle. Read More 03.11.10- Foreign versions of our coming crisis
Regrettably, these days it seems that ferreting out the right investment decisions is sort of all macro, all the time. The top-down economic overview is far more important, I think, than the bottom-up fundamental view of any company or stock. Important pieces to that macro jigsaw puzzle are Greece and the United Kingdom, as the U.S. is headed for a variation of the funding crisis, though how severe ours will be remains to be seen. Without a money-printing press -- because it uses the euro, not a currency of its own -- Greece is forced to consider austerity measures to deal with its debt woes. The U.K., on the other hand, is not as bad off as Greece, and it does have a press. Read More03.10.10- The Fastest Growing Export
The explanation is that the fastest growing export of the Western banking industry is fraud. This is not to say that the eastern banking industry is not guilty of this same fraud. Off the top of my head and from what I have see in my travels through Asia, I can think of at least three real estate markets in the Pacific Rim region that are bubbles waiting to burst - New Zealand, Thailand, and Hong Kong. If you study the Central Banking monetary policies in these countries in recent years, you will discover that these real estate bubbles are the architectural accomplishments of their respective Central Banks as well. However, the roots of this global monetary crisis lie with the most influential Central Banks in the world that include the ECB, the Bank of England and the US Federal Reserve. Read More
03.09.10- Jamming The Accelerator
03.08.10- Bernanke Wrongly Calls "Bizarre" Allegations Cited by Ron Paul
"It has been reported in the past that during the 1980s that the Fed actually facilitated a $5.5-billion loan to Saddam Hussein. And he then bought weapons from our military-industrial complex. And also that is when he invested in a nuclear reactor.... 03.06.10- The Global Financial system is Collapsing
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The year was 1946. It marked the inauguration of the last High in America. A Crisis had begun abruptly with the 1929 Black Tuesday stock-market crash. After a three-year financial free fall, the ensuing Great Depression prompted FDR’s New Deal social welfare programs, an enormous extension of government, and expectations for a revitalization of our national community. After the attack on Pearl Harbor, America planned, mobilized, and manufactured for conflict on a level that made possible the colossal D-Day invasion. Two years later, the Crisis mood eased with America’s unexpectedly painless demobilization. Director Frank Capra produced and directed one of the most beloved movies of all-time in 1946 – It’s a Wonderful Life. The movie is a beloved Christmas classic. It is a story of hope, redemption, belief in the goodness of man, and belief in God. 
Up until now, the United States has operated under a "fractional reserve" banking system. Banks have always been required to keep a small fraction of the money deposited with them for a reserve, but were allowed to loan out the rest. But now it turns out that Federal Reserve Chairman Ben Bernanke wants to completely eliminate minimum reserve requirements, which he says "impose costs and distortions on the banking system". At least that is what a footnote to his testimony before the U.S. House of Representatives Committee on Financial Services on February 10th says. So is Bernanke actually proposing that banks should be allowed to have no reserves at all? 
Tim Geithner and other Treasury Department officials held a meeting for reporters and bloggers recently, but under one primary condition: the officials could not be quoted by media, but they could be paraphrased, but only if the official being paraphrased was not noted.
For
the last seven years, I have spent almost all of my time trying to get a
handle on the "big picture". The "little pictures" are
made up of effects, and sometimes causes, but rarely motives. Its funny how
all the "little pictures" don't always coalesce into a greater
understanding until, all at once, the truth becomes blatantly obvious and
undeniable.
Janet L. Yellen appears to be the favourite to replace Don Kohn, the outgoing vice-chairman
at The Federal Reserve Board, an appointment that does not surprise us, however,
her resume is a smorgasboard of academia without even a hint of a proper job.
"Another Reason to Audit the Fed"
Talk of a Gold bubble over the past 6-9 months grows louder and louder. It is comical and a sign of desperation among those losing their grip on the levers of power and influence. I have never seen a bubble so heavily recognized and announced by the very institutional participants who are pouring all their money into it! Will Gold become a bubble? I think it may, which is why I own it. The break out over $1000/ounce last fall has certainly cleared the deck and made it a possibility.
Greece and the United Kingdom are suffering a dire funding problem that is headed for US shores.
Despite the fact that nearly all of the macroeconomic trends I have predicted since 2006 on my blog, 
With the retirement of Fed Vice Chairman Donald Kohn, President Obama now has the right to appoint three Fed governors. Together with the reappointed Bernanke and Daniel Tarullo, whom he appointed last year, that will create a Fed Board of Governors on which five of the seven members are extreme soft-money advocates, and make it almost impossible, even in a crisis situation, for the 12-member Federal Open Market Committee to pull together a majority for anything but the most modest increase in interest rates. Essentially, the throttle will have been jammed open until at least January 2013. It's worth examining the implications of this for the U.S. and global economies. 
On February 24, Congressman Ron Paul (R-Texas), at a hearing held by the House Financial Services Committee, asked Federal Reserve Chairman Ben Bernanke whether he was aware of allegations that the Federal Reserve had been complicit in the Watergate cover-up and in the illegal funneling of billions of dollars in loans to Iraq's Saddam Hussein:
