What is the future of the dollar as reserve currency? In September 2012, Germany gave the U.S. notice of its intention to withdraw massive gold stocks held by the Federal Reserve. The Bundesbank has admitted that 69% of Germany’s gold is stored outside the country. German media have widely reported that almost half of the total reserves, some 1,500 tons, are stored in New York. The report also noted the London’s gold stocks have fallen below 500 tons. Does this repatriation signal something more ominous simmering just below the surface, and should we be concerned? [Read more…]
From December 2007 – June 2010, during the worst period of the recession in the US, in which employment was at an all-time low, the Fed secretly loaned 16 trillion dollars to foreign banks, US banks and corporations.
Ben Bernanke, Alan Greenspan, and other bankers were vehemently opposed to the study claiming it would adversely affect the markets. [Read more…]