01.16.17- The Federal Reserve and the Destruction of the American Dream
Danielle DiMartino Booth

“Government is a just execution of the laws, which were instituted by the people for their people’s preservation: but if the people’s implements, to whom they have trusted the execution of those laws, or any power for their preservation, should convert such execution to their destruction, have they not the right to resume the power they once delegated, and to punish their servants who have abused it?” -John Wilkes, The North Briton, October 19, 1762

No truer words have ever been penned to the betterment of a people struggling to break free of tyranny. Indeed, John Wilkes is considered by some historians to be the primary source of inspiration for revolutionary colonial Americans given his staunch defense of religious liberty, prisoners’ rights and freedom of the press, rights we hold dear to this day.Read More

01.14.17- Surmount Impending Markets Shocker to Profit & Protect
Deepcaster, LLC

Deepcaster has, from its founding ten years ago, aimed to provide Investors Truth about the Economy and Markets so far as we could determine it. Not an easy job given the deluge of Bogus Official Numbers and Mainstream Media Spin or outright distortion or Censorship.

Fortunately, there are Alternative Sources of Accurate Information.

Well, an examination of the Real Economic Numbers and Key Market Realities today leads to a Startling Conclusion. Soon in 2017 we expect Investors to experience a Great Shocker—a Great Profit Opportunity for the Cognoscenti, and a Threat to the Wealth of the Unknowing. Read More

01.13.17- The Fed Needs Competition, Not Rules
Tho Bishop

In December the Federal Reserve raised interest rates for the first time in 2016, once again failing to meet its own expectations it set the year prior. Unfortunately forecasting failures at the Fed is nothing new, for years it has routinely missed on both rate hikes and GDP projections. While it’s unfair to expect Fed economists to be fortune tellers, crying wolf does have consequences. The markets have learned to take the Fed’s projections with a grain of salt, with Chairwoman Janet Yellen herself having to admit that “forward guidance”, a tool championed by her predecessor Ben Bernanke, has lost its potency.

This reality, combined with the Fed’s unprecedented actions following the financial crisis, has led to ever increasing calls for reforming the institution. Most of the attention has focused on limiting the discretion of the Fed by imposing a rules-based monetary policy. Read More

01.12.17- Three factors will shake up the Federal Reserve in 2017
Michael Gapen

Change is coming. Fiscal policy, trade policy, and regulatory policies are all on the table and up for review in the Trump administration. In addition, we foresee significant changes on the horizon for the Federal Reserve and how it conducts monetary policy.

We see these changes at the Federal Reserve as coming on three fronts. The first is the normal rotation of voters within the Federal Open Market Committee, or FOMC.

While all committee members attend and exchange views at the Fed’s policy meeting, a lesser known fact of the way the FOMC operates is that only a subset of the larger group has the authority to vote on monetary policy. Read More

01.11.17- Black Magic Fraud to be exposed in 2017
– Gold up 300x

Tyler Durden

At the beginning of a new year it would be totally natural to forecast what the likely events and trends will be for 2017. A lot of experts around the world will predict a number of “new” events as if a lot of things will change just because we are entering a new year.

But sadly, I will disappoint everyone and not change direction in any single area that I have been talking about for many years. Trends don’t change because we are in a new year. The principal long term trends take a long time to develop and longer to reach a turning point. Read More

01.10.17- Here’s a unique sign of inflation
Simon Black

I remember the first time I ever saw a $100 bill.

It was back in the early 80s, I must have only been 5 or 6 years old.

My parents took my sister and I to a fancy restaurant, and I distinctly remember a man dressed in a dark business suit a few tables over paying his bill with a crisp $100 note.

He pulled it out of his wallet, slid it onto the table, and walked away.

I was dumbfounded. It was more money than I had ever seen in my young life. Read More

01.09.17- 'Audit the Fed' bill gets
new push under Trump

Tim Brown

The majority of power and influence that exists in our world today lies within the grasp of five wealthy families and their descendants, many of whom were complicit in the creation of the Federal Reserve. That has led to a devaluing of real money, replacing it with fiat currency and untold wars and corruption. Now, Kentucky Senator Rand Paul, along with Representative Thomas Massie, are following in the footsteps of Ron Paul and have introduced legislation that would audit the Fed.

The Hill reports:

Rep. Thomas Massie (R-Ky.) and Sen. Rand Paul (R-Ky.) have re-introduced legislation to "Audit the Fed," after a similar effort stalled in the last Congress. Read More

01.07.17- Grudge Match 2017: Trump vs. Yellen
Dave Gonigam

Looks as if it’s game on — Trump versus the Deep State.

“Deep State” is a term that originated in Turkey to describe certain actors within the structure of government who were unseen but who wielded the real power irrespective of who won elections. A few years ago, a retired congressional aide named Mike Lofgren appropriated the term to describe a similar phenomenon here in the United States. Others, including Agora founder Bill Bonner, find it a useful prism through which to view the passing scene.

As you’re likely aware, President-elect Trump has expressed skepticism about the “Intelligence Community” and its claims that Russia “interfered” in the 2016 campaign for purposes of electing Trump. Read More

01.06.17- The Fed’s Playbook for 2017
James Rickards

[Ed. Note: Jim Rickards latest New York Times best seller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis (claim your free copy here) goes beyond the election and prepares you for the next crisis]

Fed forecasting is surprisingly easy despite the sturm und drang of the talking heads. It’s a matter of considering what we know, and what we don’t know, and observing the indications and warnings that presage the unknown.

What we know is that the Fed is biased toward rate increases as long as the economy is growing. This is because the Fed needs to raise rates to 3.25% before the next recession in order to cut them back to 0% when the recession hits; approximately the amount of cutting needed to pull the economy out of recession. Read More

01.05.17- 42 Years of Fractional Reserve Alchemy
Craig Hemke

It has now been 42 years since The Global Bankers successfully alchemized gold through the advent of futures trading so we begin the new year by looking back at how we got into this position in the first place.

To that end, let's start 2017 by going back to 1974.

Over the past few years, you've often heard me reference the HISTORY and FACT of gold price suppression and manipulation. Whenever it comes up in an interview or presentation, it often goes like this: Read More

01.04.17- Nomi Prins: Central Banks and the Artisanal Money Era
Craig Wilson

Financial journalist and bestselling author, Nomi Prins disparages on what the future of the global financial system will look like in what she has defined as the Artisanal Money Era.  In attendance at the Library at the Royal College of Surgeons in London, together with affiliates at Agora Financial’s UK office, she unleashed in depth analysis on central bank policy and what it means for the U.S, Europe and the global financial environment.

While in discussion at the beginning of December she started out by noting, “As long as these the central bank leaders are still in their positions the same or similar policies will continue. They really don’t know what else to do. To abandon them now, particularly when they have not been working, would be an admission. Read More

01.03.17- The Fed’s Troubled Road Ahead
James Rickards

In recent decades, the Fed has engaged in a series of policy interventions and market manipulations that have paradoxically left it more powerful even as those interventions left a trail of crashes, collapses and calamities.

Needless to say, for the past 20 years the Fed has gone beyond its dual mandate of price stability and full employment to engage in full-scale manipulation of markets and the macroeconomy.

On Dec. 5, 1996, Alan Greenspan, then Chairman of the Federal Reserve, gave a speech in which he mused about whether valuations in the stock market reflected a degree of “irrational exuberance.” The irony was that stocks measured by the Dow Jones index doubled in value over the next three years before crashing over 40% from their peak on Dec. 31, 1999. Read More

01.02.17- Forecast 2017:
The Wheels Finally Come Off

James Howard Kunstler

Apart from all the ill-feeling about the election, one constant ‘out there’ since November 8 is the Ayn Randian rapture that infects the money scene. Wall Street and big business believe that the country has passed through a magic portal into a new age of heroic businessmen-warriors (Trump, Rex T, Mnuchin, Wilbur Ross, et. al.) who will go forth creating untold wealth from super-savvy deal-making that un-does all the self-defeating malarkey of the detested Deep State technocratic regulation regime of recent years. The main signs in the sky, they say, are the virile near-penetration of the Dow Jones 20,000-point maidenhead and the rocket ride of Ole King Dollar to supremacy of the global currency-space. Read More

12.31.16- Drifting into fascism
Alasdair Macleod

Most people regard governments and their central banks as forces for the good. Financial crises and suchlike are therefore blamed on capitalism, and people believe our leaders do their best to pick up the pieces from market failures, because they are elected to promote the public good.

The reality is very different, with governments acting not in the interests of their electors, but in the interest of the preservation of the administration. And the size of the administration is proportional to its degree of control over the people, so it and its burden on ordinary people just grows and grows with ever-increasing intervention and micro-management. Read More

12.30.16- The Reason the Fed is Raising Rates, and Why It Won’t Work
Mike Whitney

Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy?  Why is the Fed raising interest rates when inflation is still well below its 2 percent target?

Things are not always what they seem. In theory, the Fed’s low interest rates are supposed to have a positive impact on the economy by spurring a credit expansion. But it hasn’t worked out that way. Bank lending has remained stubbornly subdued throughout the post-crisis period. But what hasn’t remained subdued is corporate borrowing (via the bond market) which has exceeded all previous records increasing the probability of massive corporate defaults sometime in the next two years. Read More

12.29.16- The BIGGEST BATTLE in Washington; Trump vs. Yellen
Oliver Donaldson

In my last article I wrote at length about the near-term challenges that are threatening the recent bullish run of the so called “Trump Rally”. These economic factors will probably lead to a correction any time now and it would only be natural that the market would return higher again, as it usually does in a boom and bust cycle. Though this is the usual economic cycle for America, the Trump administration will be challenged even further by one of the most powerful forces in Washington; Janet Yellen and the Federal Reserve. Read More

12.28.16- Which Comes First -
Dow 20k Or $1000 Bitcoin?

Tyler Durden

For 10 straight days, progonosticators have promised that the Dow Jones Industrial Average will break gloriously above 20,000 for the first time in history, proving how great the economy must be (or will be) and leading investors to the next secular bull leg of this miracle of wall street.

So far it hasn't happened... (Dow +11.75% post-Trump)

But halfway around the world, Chinese fears (of capital controls and devaluation) have sparked an exodus into alternative currencies - most notably Bitcoin as it soars towards $1000. (BTC +42% post-Trump)Read More

12.27.16- The Real Reason for Government Banking Solutions
Daily Bell Staff

This is a bad season for banking around the world and especially in Italy where major banks are under water.

Central banks are supposed to protect banks but who really believes that? In the modern era especially central bank protection has often involved government refinancing.

From the point of view of central banking, the health of the whole system is more important than the health of an individual component. That’s one reason why Italy’s oldest bank was just bailed out.

The bank, Monte dei Paschi di Siena, is being bailed out by the italian parliament which has put aside up to 20 billion to ose as necessary. However the parliament dearly hopes it won’t cost so much. Read More

12.26.16- What Is Left To Go Before
The Great Reset?

Jim Sinclair

What is left to go before the Great Reset?

The Great Reset is the milestone economic event that is the final step in the restructuring of the monetary system that functions as real money is intended to.

This system in word and fact is the mechanism the sum of its parts truly functions as:

1.A Store House of value.
2.A Measure of value.
3.A Standard of value
4.A Medium of Exchange. Read More

12.24.16- Why Are Dollar Bills Worth Anything?
Frank Shostak

Why are the dollar bills in people's pockets worth anything? According to some experts, the dollar bills carry value because the government in power says so. Other experts are of the view it is because people are willing to accept it as payment.

To say that the value of money is on account of the government or on account of social convention is to say very little. In fact, what experts are saying is that money has value because it is accepted, and why is it accepted? … Because it is accepted! Read More

12.23.16- The Biggest Threat to the Trump Rally
Michael Covel

As the Dow Jones approaches 20,000 following Trump’s triumph, investors have reached a state of euphoria…

The Dow has scored 15 all-time closing highs since the election.

CNBC reports that ETFs have seen nearly $100 billion in inflows.

One of the Fox Business “analysts” even called for Dow 30,000 yesterday. Read More

12.22.16- Something Wicked This Way Comes
Jim Quinn

I stopped trying to predict markets back in 2008 when the Federal Reserve, Treasury Department, Wall Street bankers, and their propaganda peddling media mouthpieces colluded to rig the markets to benefit the elite establishment players while screwing average Americans. I haven’t owned any stocks to speak of since 2006. I missed the the final blow-off, the 50% crash, and the subsequent engineered new bubble. But that doesn’t stop me from assessing our true economic situation, market valuations, and historical comparisons in order to prove the irrationality and idiocy of the current narrative. Read More

12.21.16- Fed’s Faux Confidence Keeping Stock Bubble Afloat
Peter Schiff

In her rate hike announcement last week, Janet Yellen said the Fed was so confident in the health of the US economy that it was raising the Federal Funds rate by a paltry quarter point. Investors are on board, with a wave of irrational exuberance sending the Dow closer to its 20,000-point milestone. However, the Fed’s decision suggests the need for a strict comparison with its statements last December: a time when a similar expression of economic confidence would prove to substantially miss the mark for rate hike expectations and GDP growth. Read More

12.20.16- The War On Cash And Then
On Gold And Silver

Clive Maund

The global financial system continues to groan under the strain of the accumulated weight of trillions of dollars of debt and derivatives, which have built up to even more fantastic levels than those that precipitated the near collapse in 2008. And thanks to the policy of solving liquidity problems near-term by creating even more debt and derivatives, Quantitative Easing being the most obvious example. However, while the majority consider the situation to be hopeless, there is actually “light at the end of the tunnel.” Read More

12.19.16- Six Steps Trump Can Take Toward Better Monetary Policy
Jesse Felder

Since Nixon severed the final link to gold in 1971, the US dollar has lost more than 80% of its purchasing power, wreaking havoc on ordinary savers, conservative investors, and households on fixed incomes. Today, inflationary monetary policy continues to be a foundational tenet of all presidential administrations as politicians and central bankers have heedlessly been borrowing and printing currency without restraint in order to bankroll today’s bloated and insolvent federal government.

Movement in the direction of sound money is badly needed, and even without abolishing central banking, there are several steps that the Trump administration can take toward improving monetary policy. Read More

12.17.16- Why The Fed Is Tilting At Windmills
Jesse Felder

“My reason is now free and clear, rid of the dark shadows of ignorance that my unhappy constant study of those detestable books of chivalry cast over it. Now I see through their absurdities and deceptions, and it only grieves me that this destruction of my illusions has come so late that it leaves me no time to make some amends by reading other books that might be a light to my soul.” -Don Quixote

I grew up surfing in Southern California. Sure, I played baseball and basketball like most other boys along with a lot of soccer but these never really captured me like surfing did. I was eight years old when I first stood up on surfboard and rode a wave to the beach at Latigo Point and from that moment I was hooked. There was truly something magical about harnessing the power of Mother Nature for nothing other than the pure joy of essentially walking on water. Read More

12.16.16- Even After Rate Hike, People Still Don’t Believe the Fed
Tho Bishop

It finally happened. The Fed raised interest rates a quarter of a percentage point for the first time in 2016, after forecasting four rate hikes a year ago. The decision was highly anticipated following the market’s surge post-Trump election (Paul Krugman’s biggest miss since the success of the internet).

Of course this still leaves interest rates down three quarters of a percentage point from last year’s projection, which may be why many aren’t buying the Fed’s forecast of three rate hikes in 2017.

As Bloomberg reports, the bond market sees the Fed overplaying its hand again: Read More

12.15.16- The Fed and Dow 20,000 Plot
a Collision Course

Greg Guenthner

The Dow Jones Industrial Average tacked on another 114 points to close Tuesday trading at 19,911.

The big, round number is now staring us right in the face.

The feeding frenzy could happen as early as tomorrow as the Dow sneaks within reach of its highly anticipated 20K milestone. But now that the Big Board’s climbing higher up the bean stalk, these 1,000 points moves just don’t pack the same punch.

If you’re the thrifty type, feel free to just dust off one of your old caps instead of buying a new one. With some minor alterations, you can squeeze a lot more mileage out of ‘em: Read More

12.14.16- Money Under Fire
Chris Martenson

A reminder of the great wealth transfer underway

Today we welcome a cohort of new readers visiting PeakProsperity.com for the first time. This article is to give them our best grounding in the massive wealth transfer underway.

Our hope is that our longtime readers will likely benefit from a revisitation of the fundamentals, as well.

One serious predicament we face is that the current leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about it is that the situation is easy to understand. Read More

12.13.16- And Now, for Something Entirely Different: Mrs. O’Leary’s Cow
Jeff Thomas

In 1871, a large portion of the city of Chicago burned to the ground. The Chicago Tribune attributed the fire to a cow owned by a Mrs. O’Leary. The Tribune stated that the cow kicked over a lantern as she was being milked, burning the barn and much of Chicago.

Whether the story is accurate is of little concern. (Somebody always has to be found to take the blame for catastrophe.) Whatever started the barn fire in Mrs. O’Leary’s neighbourhood, a seemingly minor event resulted in a major conflagration. Read More

12.12.16- Greenspan's Disastrous Legacy
David Stockman

It was nearly 20 years ago to the day that Alan Greenspan delivered his famous “irrational exuberance” speech. Little did he know how far it could go. Even less has his disastrous legacy been accorded the condemnation it so richly deserves.

At the time he mused publicly about the possibility that the Fed’s prodigious money printing during the first nine years of his tenure might fuel an excess of animal spirits in the stock market, the NASDAQ 100 stood at 850.Less than 40 months later the index peaked in late March 2000 at just under 4600. Read More

12.10.16- No Surrender in the Fed’s
“War on the Markets”

Bill Bonner

BALTIMORE – People never intend to bring disasters upon themselves. But they sometimes put themselves in situations in which disaster is the only way out.

The War Between the States was supposed to be quick and decisive. The glorious histories of the war were already written – at least in the minds of the combatants – by the time of the First Battle of Bull Run. Read More

12.09.16- Inflation Is Not About Price Increases
Frank Shostak

There is almost complete unanimity among economists and various commentators that inflation is about general increases in the prices of goods and services. From this it is established that anything that contributes to price increases sets in motion inflation.

A fall in unemployment or a rise in economic activity is seen as a potential inflationary trigger. Some other triggers, such as rises in commodity prices or workers’ wages, are also regarded as potential threats.

If inflation is just a general rise in prices as the popular thinking has it, then why is it regarded as bad news? What kind of damage does it do? Read More

12.08.16- Cracks in the Bond Market
Ryan McMaken

Foreign USTreasury Bond dumping continues, and even accelerates. China and the Saudis are selling USTreasurys in a near panic. Foreign central banks liquidated a record $375 billion in USGovt debt in the last 12 months. An American disaster lies in the making from debt saturation, debt overload, and debt dumping. It is all denied by the Washington mouthpieces and the Wall Street handlers, as they lie. The USGovt debt default is within view, dead ahead.

One month ago in October tally, the USFed update of Treasurys held in custody revealed a frightening picture of foreign sales, big sales, even accelerated sales. The total amount of custodial paper had fallen to $2.805 trillion, the lowest since 2012. One month later, foreign central banks continued their relentless liquidation of US debt paper, as measured by the same custody account. Read More

12.07.16- The Problem Is A Single Central Bank…Not A Single Currency
Steve Saville

The euro-zone appears to be on target for another banking crisis during 2017. Also, the stage is set for political upheaval in some European countries, a general worsening of economic conditions throughout Europe and widening of the already-large gaps between the performances of the relatively-strong and relatively-weak European economies. It’s a virtual certainty that as was the case in reaction to earlier crises/recessions, blame for the bad situation will wrongly be heaped on Europe’s experiment with a common currency.

The idea that economically and/or politically disparate countries can’t use a common currency without sowing the seeds for major problems is just plain silly. It is loosely based on the fallacy that economic problems can be solved by currency depreciation. Read More

And Now, for Something Entirely Different:
Fake News equals Fake Markets…

Bill Holter

Growing up in the 1960′s, I can still remember hearing and reading about Russian propaganda. While I am certain some of what the Western press reported was “spun”, even a 10-year-old could see through much of what Russia was trying to portray to its people.

Fast forward to present day, we seem to have switched places. The current mainstream media reports defy nearly any and all logic on a daily basis. Reporting has obviously been very poor for many years and it really did not matter what the subject was. Economics, finance, geopolitics, home grown politics, it has not mattered, logic has been turned on its head. I could go through example after example but would now require a book …or more likely a “series” of books. Read More

Who’s On Deck at the Fed?
Lance Gaitan

You may remember that in early September I wrote about the Federal Open Market Committee (FOMC) – basically, the Fed officials who vote on monetary and interest rate policies, which govern a massive part of our economy. They try to guide our economy through the booms and busts of business cycles (how well you think they do that probably depends on how your portfolio looks).

These all-but unknown folks have their hands on the levers of the economy, so I took a look at the FOMC voting member backgrounds and asked: what qualifies these people to decide if savers get punished with lower interest rate payments or borrowers get access to loans with reasonable repayment terms? Read More

12.03.16- Trump: what dangers does he face
from Globalists?

Jon Rappoport

As I keep emphasizing, Trump achieved two great things in his campaign for the presidency: he stopped Hillary Clinton from occupying the Oval Office, and he ran against big media, helping to further destroy its reputation.

From here on, we shall see.

How many compromises will the new president permit? How many will he seek? To put it another way, how many covert victories will arch-Globalist David Rockefeller and his associates pile up? They are, of course, aware that Trump has promised to kick the can of Globalism down the road, stop the excesses of “free trade,” and bring stolen jobs back to America. What actions will they take against Trump? Read More

12.02.16- Abolish Corporations
Daily Bell Staff

Don’t Lower Corporate Taxes. Abolish Them … Lowering the corporate tax rate appears to be all the rage. Donald Trump has promised a cut to 15 percent from 35 percent in the U.S., and British Prime Minister Theresa May has pledged to make the U.K.’s corporate tax the lowest in the G-20, which would mean taking it lower than Trump intends to … Now that business-friendly governments appear to have some leeway, they should go back to the old idea of eliminating corporate levies and just taxing personal income and consumption. Bloomberg

Bloomberg is suggesting in this article that corporate taxes should be abolished because corporations will make more money and that in turn will benefit their workers and society generally. Read More

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