The already weak economy of Iran faces additional pressure after the European Union banned all oil imports from Iran effective July 1. The EU actions support a U.S. directed effort to embargo Iranian oil and sanction the Iranian banking system, effectively freezing Iran out of the international financial system. The moves by the United State [...]
Gold and Silver Blog
Fed Chairman Bernanke’s statement that “gold is not money” seems to be an increasingly lonely position. No less an authority than Alan Greenspan, his predecessor at the Federal Reserve, directly contradicted Bernanke by calling gold a “currency.” In remarkably candid language, Greenspan spoke in Washington about the Euro ‘Breaking Down’, the European banking crisis and [...]
Gold and Silver Blog
Steve Forbes, CEO of Forbes Magazine, said the U.S. should return to a gold backed currency to prevent further debasement of the U.S. dollar. Mr. Forbes joins a growing chorus of intellectually honest Americans who view the Federal Reserve as the greatest danger to the American economy and way of life. The quest to preserve [...]
Gold and Silver Blog
It is ironic that one of the most eloquent proponents of a gold standard did the most to ensure that we will never have one. Alan Greenspan’s 1966 paper entitled “Gold and Economic Freedom” expounded on the role of a gold backed currency in protecting wealth against inflation by restricting the amount of money that [...]
Gold and Silver Blog
Ron Paul said today that the creation of a sound U.S. currency, “backed by gold or some other commodity respected by the market” was the most important first step to create new jobs and encourage capital investment in America. In an article published on the Ron Paul website entitled “The Keys to Economic Growth”, Ron [...]
Gold and Silver Blog
Rep. Ron Paul, during a Subcommittee hearing on problems at the US Mint, linked the shortage of gold and silver coins to the “huge debasement” of the United States currency. The remarks came during a hearing by the House Financial Services Subcommittee on Domestic Monetary Policy, entitled “Bullion Coin Programs of the United States Mint: [...]
Gold and Silver Blog
