Intervention Will Not Stop the Dollar's Slide
Bambi vs. Godzilla!  Peter Schiff, 06/27/08
...[T]he United States holds just about 1% of the world’s $7.6 trillion of foreign currency reserves...just 2.5% of the total daily volume of foreign exchange trading. Talk about Bambi vs. Godzilla!...[I]f the dollar is going...Read More >>

Memo to Ben:
Inflation is indeed well anchored - in the ceiling!
Picture's worth a thousand words - from Doug Noland's Credit Bubble Bulletin...Click to View Chart >>

Saudis press United States to put an end to rate cuts
Stelzer, 06/29/08
But...The members of the Fed family who worry most about the stability of the banking system saw meltdown in America’s future if all this talk of interest-rate increases persisted. The Saudis have now extended their influence over oil...Read More >>

Bernanke Fiddles
In the Friday June 27 "The King Report" Bill King cuts right to heart of the matter in the wake of the Fed's recent weak-kneed non-decision. The 'horns' of Bernanke's dilemma grow sharper and more urgent with each missed opportunity to act...Read More >>

An oily deception about the dollar 
Journal Inquirer,  06/20/08
For mistaking symptoms for causes, it would be hard to outdo Connecticut U.S. Sen. Joseph I. Lieberman and Maine Sen. Susan Collins with their proposal to prohibit pension funds and government agencies from investing in commodities...Read More >>

Good Inflation?  Doug Noland, 06/20/08
As should be obvious by now, the current hyper-inflation in energy and food prices risks global chaos...As such, U.S.monetary policy that accommodates $700bn Current Account Deficits and massive speculative outflows to the world is...Read More >>

Taking Money Back
Murray N. Rothbard, posted on 06/14/08
Article originally appeared in The Freeman, Sept 1995. Money is a crucial command post of any economy, and therefore of any society. Society rests upon a network of voluntary exchanges, also known as the "free-market economy"...Read More >>

Fed's Bear Stearns Books Look Prime for Cooking
Jonathan Weil, Bloomberg, 06/18/08
The Federal Reserve is just days away from completing the financing for its bailout of Bear Stearns Cos., after which the central bank will have another big decision to make: how to account for it. Flip through the...Read More >>

Wooden Nickels and Steel Pennies
Dan McLaughlin, 06/18/08
"Don't take any wooden nickels" was an admonition to be careful in your dealings because someone might try to pay you with worthless money...Read More >>
 

Stage II Predicaments
Doug Noland, 06/13/08
...[O]ne can look to spiking energy, food and borrowing costs and make a strong case that Fed reflationary policies have become dangerous and counterproductive. “Despite the unwelcome rise in the unemployment rate that was reported...Read More >>

The Smell of Our Money
Catherine Austin Fitts, 06/12/08
I first met Jim Johnson in the early 1990’s. I was a great admirer of his predecessor at Fannie Mae, David Maxwell. David had recruited Jim from Lehman Brothers to serve as Vice-Chairman at Fannie Mae and then to succeed him as Chairman...Read More >>

The Great Seduction
David Brooks,  06/10/08
The people who created this country built a moral structure around money. The Puritan legacy inhibited luxury and self-indulgence. Benjamin Franklin spread a practical gospel that emphasized hard work, temperance and frugality. Millions of...Read More >>

Dollar and Gold Oral Intervention
Jim Sinclair, 06/10/08
Today four Fed spokesmen indicated coming increases in the Discount Rate. God help the dollar now if the discount rate is NOT raised. God help us all if the Discount Rate is raised. Simply stated, there is NO way for a continuous increase in...Read More >>

Bernanke Jeopardizes Dollar
Axel Merk, 06/10/08
‘The road to hell is paved with good intentions’ is a proverb coined centuries ago, but today’s Federal Reserve (Fed) should take note when it does its own coining. Fed Chairman Ben Bernanke is in a tough spot; despite his best efforts to...Read More >>

Federal Reserve and ECB are in no mood to save us from the consequences of our debt
Pritchard 06/09/08
We are in uncharted waters. The easy trade-off between growth and inflation that so flattered asset prices for a quarter century is over. The monetary lords can no longer shield us from the full consequences of our debts. Nor do they want to...Read More >>

Putting the genie back
Peter Rhalter, 06/08/08
Sometimes the answers to questions turn up in the most surprising places. For instance, last August I asked Midas [Bill Murphy's daily gold and financial market commentary] readers, "Why is it that the $2 billion investment by Bank of America in...Read More >>

Q1 2008 Flow of Funds
Doug Noland, 06/06/08
[D]espite the weak dollar, a rapidly slowing economy, and severe U.S. Credit tumult the intractable dollar “recycling” requirement had ROW [the "Rest-of-the-World] acquiring U.S. Credit instruments at a stunning  [pace] during the quarter...Read More >>

The Financial Tsunami has not reached its Climax:
F. William Engdahl, 06/05/08
Credit Default Swaps: Next Phase of an Unravelling Crisis. The Sub Prime Meltdown is but the Tip of the Iceberg .While attention has been focussed on the relatively tiny US "sub-prime" home mortgage default crisis as the center of the current...Read More >>

After brief pause, MZM surges anew.
 Posted  06/05/08
 To view chart, please Click on Image or Click Here >>



US staring at double-dip recession as calls for higher interest rates grow   Liam Halligan, 06/01/08
By slashing interest rates in the face of rising price pressures, has the world's most important central bank sowed the seeds of a new inflationary era? It's an alarming idea, but one gaining currency all the time. Since the sub-prime crisis...Read More >>