FED

Edgar Allen Poe vs. The FED

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Ladies and gentlemen, I give you (drumroll please) total outstanding credit versus GDP in the United States from 1929 to 2012: Source: St. Louis Fed
This one chart shows exactly WHY we are where we are, folks. From the moment Richard Nixon toppled the US dollar from its golden foundation and ushered in the era of pure fiat money (oxymoron though that may be) on August 15, 1971, there has been a ubiquitous and dangerous synonym for “growth”: credit. The world embarked upon a multi-decade credit-fueled binge and claimed the results as growth.

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Is Obama’s Black Swan Coming Soon?

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What is a “Black Swan”? According to Wikipedia… The phrase “black swan” was a common expression in 16th century London as a statement of impossibility. The London expression derives from the Old World presumption that all swans must be white because all historical records of swans reported that they had white feathers. After Dutch explorer

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Obama’s Comments Worry Stock Bulls

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Today Chris Ciovacco points to some other indicators that are beginning to turn negative.  Of course, we are coming to the end of the summer doldrums and so we could see a reversal of fortunes as we enter the fourth quarter but we still have to make it through the notorious months of September and October. Remember the ROC has not issued a sell signal yet but just a preliminary warning.

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How the Golden Reset Button Could Drive the Price of Gold to $20,000.

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Rumors have been rife about the treasury minting a single trillion dollar platinum coin to bypass the debt ceiling limitations. But it is probably just a pipe dream because first of all where would they get a trillion dollars worth of platinum? Do you know how many tons of platinum that is? And secondly if

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Trends: Gold Buying to Resume & FED to Double Balance Sheet Again

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Gold Buying- Thomson Reuters GFMS, a leading precious metals consultancy,  has forecast that gold buying by investors will continue at record levels for the remainder of 2012. GFMS produces the benchmark supply and demand statistics for the gold market. GFMS forecasts that investors will purchase 973 tons of gold in the second half of 2012, more than during the wild

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