Dear Chief Secretary, I’m Afraid There Is No Money

by Gary North

The new British government’s Chief Secretary to the Treasury, David Laws, walked into his new office. On the table there was a note from the previous secretary.

“Dear chief secretary, I’m afraid there is no money. Kind regards – and good luck! Liam.”

US Dollar Falls Below Canadian Dollar

Canada’s dollar was worth more than the U.S. currency for the first time since July 2008 on the back of the rising price of crude oil and the prospect of higher interest rates.

National Debt Will Bring Cutbacks, Tax Increases That ‘Aren’t Even Imaginable’

American leaders have sounded the alarm for years about the red ink on the government’s books, but now the problem of mounting national debt is worse than it ever has been before with potentially dire consequences for taxpayers.

Chavez Devalues Venezuela’s Currency

Venezuela President Hugo Chavez has devalued the Bolivar by half to allow for more government spending to stimulate their depressed economy.

CHINA: “The world does not have money to buy more US Treasuries”

Deputy governor of the People’s Bank of China referred to the overall situation globally. Be prepared for a currency crisis.

The Fed’s Money Monopoly

by Ron Paul

Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s false sense of security in the financial system. This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry under the misguided reasoning that more government could have stopped faulty lending practices, when in actuality it caused them. This bill would also greatly increase the powers of the Federal Reserve, which too many in Congress still see as savior rather than perpetrator in this mess.

END THE FED…. Then What? – The Transition to Sound Money

by Jake Towne

“Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.”

In this talk I will first address what the goal is – as one must always begin with the end in mind. Then I will briefly discuss several transition ideas that are already present in literature, describe possible issues with each, and then spend the remainder of the time outlining my proposal

Beijing Officials Urging Gold, Crude-Oil Purchases Amid Pullback

HONG KONG – China should use the shockwaves created by the Dubai crisis as an opportunity to buy gold and oil, senior Chinese official

The Truth Behind China’s Currency Peg

By Peter Schiff

During President Obama’s high profile visit to China this week, the most frequently discussed, yet least understood, topic was how currency valuations are affecting the economic relationship between the United States and China. The focal problem is the Chinese government’s policy of fixing the value of the renminbi against the U.S. dollar. While many correctly perceive that this ‘peg’ has contributed greatly to the current global imbalances, few fully comprehend the ramifications should that peg be discarded.

Rand Paul: The Emperor’s New Currency

By Rand Paul

We don’t collect enough taxes, so we have to borrow it. We are under a serious circumstance in our country and we have to do something serious to reform the system. Its not enough to just elect a different guy to go up there. You have to fundamentally change the rules of the system.

Its not that the Emperor has no clothes…it’s that the Emperor has NO money.

Schiff Report: Gold & Silver Surge, Dollar Falls, Obama in Asia

Peter Schiff

People can be growing poorer as their stock acounts are rising higher. Gold prices are raising faster than stock prices, dollars are actually losing value. In terms of purchasing power the dow is really losing money.

“The sooner we stop pretending that spending borrowed money constitutes a legitimate economy. The sooner we can get to the root causes of our economic imbalances and of our problems and start working to solve them”