Monthly Archives: April 2014

Bud Conrad’s latest commentary at Casey Research looks closely at the decline of the US dollar as the world’s reserve currency.

“After World War II, the dollar became the world’s preeminent currency. Convertible to gold at $35 an ounce, it was the backbone of international trade. Foreign central banks used it to back their own currencies.

Nixon removed the dollar’s convertibility to gold in 1971, rendering its value dependent on prudent management by its issuer. That issuer, of course, is the Federal Reserve—which conjures dollars into existence to support the US government’s spending habit.

The Fed has issued a lot of dollars since 1971, and even more since the financial crisis of 2008—thanks to Washington’s exploding debt levels. And it’s only going to get worse, as even the Congressional Budget Office (CBO) admits in its own forecasts.

What’s more, CBO debt estimates are notoriously overoptimistic; so while they are daunting, reality will likely be worse.”

Read the Full Commentary Here

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A new opinion piece at MarketWatch rips into the corrupt policies of the Federal Reserve. Al Lewis cites recent analysis that estimates the Fed’s inflationary policies have cost American savers more than $750 billion since the 2008 financial crisis. Last year alone, savers lost more than $120 billion in purchasing power. What’s one of the best ways to protect your savings? Physical gold and silver.

“Our financial system is so corrupt you might say that a fish rots from the Fed.

How else can one describe a regime that punishes savers and rewards borrowers and speculators for years on end? Our central bank is essentially taking billions of dollars a year from average Americans, who are still struggling to get by in a bombed-out economy, and it is giving it — yes, giving it — to the very banks that helped cause the 2008 financial crisis in the first place.”

Read the Full Piece Here

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Interested in learning about the best ways to buy gold and silver?
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As Western financial media continues to downplay the importance of gold investment, Asian demand for the metal remains strong. China may have surpassed India as the world’s largest gold consumer last year, but Indians are still desperate to find ways around their government’s strict import tariffs on the yellow metal.

It’s no surprise that Indian gold smuggling has skyrocketed in the past year, but here is one of the most unusual stories we’ve yet heard. An Indian man had twelve gold bars surgically removed from his stomach this past week. It gives a whole new meaning to the old phrase, “You can’t eat money!” If only Americans were this committed to their gold consumption…

Read the Full Article Here

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!