Much has been made of Reuters story how “Iran turns to barter for food as sanctions cripple imports” in which we learn that “Iran is turning to barter – offering gold bullion in overseas vaults or tankerloads of oil – in return for food”, and whose purpose no doubt is to demonstrate just how crippled […]
Posts Tagged ‘gold’
Facts about Libya under Gaddafi that you probably did not know
November 1, 2011Facts you probably do not know about Libya under Muammar Gaddafi: • There are no electricity bills in Libya; electricity is free … for all its citizens. • There is no interest on loans, banks in Libya are state-owned and loans given to all its citizens at 0% interest by law. • If a Libyan […]
The Global Financial System is Ready to Blow
August 22, 2011To understand the mess we are in, it’s important to know how we got here. We begin with the 40th anniversary of Richard Nixon’s announcement that America was suspending the convertibility of the dollar into gold. (at $35 an ounce.) With concerns in the late 60’s mounted over America’s rising trade deficit and the cost […]
Who is buying gold?
August 12, 2011Gold has been soaring in value, and will continue to be a favorite safe haven for countries across the globe. Only 10 percent of the world’s total gold is purchased by the United States, about the same consumption as Turkey. Whereas India currently buys more than 20 percent of the world’s gold, China 18 percent, […]
Richard Russell on Gold Manipulation
April 27, 2011Richard Russell, a long-time gold bug, writes: “The desperate battle to keep gold below $1500/oz. continues. … I’m fascinated to see whether June gold can close above 1500 or whether the anti-gold contingent can manage to knock gold down (again) below 1500. The action is now so blatant that it literally screams of manipulation. … […]
QE quantitative easing same old government fraud
November 16, 2010One day, the king of ancient Babylon summoned his treasury overseer and exclaimed, “I need more money to wage war on those Hittite terrorists! I looked in the great treasure chest and it’s nearly empty. There are hardly any gold coins left,” he thundered. “Oh Light of the Euphrates,” groveled his terrified minister, “we are […]
Quantitative Easing QE2 will break the back of the U.S. Dollar
November 9, 2010Millions of Americans have no idea what Quantitative Easing (QE) is or how it will affect them personally. Quantitative easing (QE) is a monetary policy used by some central banks to increase the supply of money by increasing the excess reserves of the banking system, generally through buying of the central government’s own bonds. Economist […]
The economic effects of Israel invading Iran
June 30, 2010Pravda’s take on warships looming around Iran: Israel will never allow Iran to develop nuclear weapons, and Iran is absolutely determined to continue developing a nuclear program. War between Israel and Iran would not just affect the Middle East – it would have staggering implications for the rest of the globe. 1) The Price Of […]
