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FED Drops Unemployment Target Even Lower

Posted on April 10, 2014


Federal Reserve officials had a secret video conference call in early March and reached a general consensus that the 6.5% unemployment rate threshold for the first rate hike was outdated, the central bank said Wednesday. A summary of the video conference was included in the minutes of the Fed’s March 18-19 meeting released by the […]

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Gold Down As Yellen’s First Quarterly Press Release Looms

Posted on March 19, 2014


Gold prices fell on Wednesday as traders circled the wagons ahead of Janet Yellen’s first FOMC press conference later in the day, while a mining executive said everyone is worried over nothing with regards to China’s copper demand. The Federal Reserve chairwoman is widely expected to stick to the tapering plan, but investors will be […]

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Bitcoins, Stage 2: “Bring in the Feds!”

Written by Gary North on February 26, 2014


When you think “Mt. Gox,” think “Enron.” When something this devastating happens to the biggest exchange in an experiment designed by anonymous Japanese programmers, the industry is not going to recover rapidly. Other firms in this industry now have a real marketing problem. The disappearance of the Mt. Gox Bitcoins exchange is a major setback […]

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Mass Deflation Ahead: A Keynesian Fantasy

Written by Gary North on January 31, 2014


Ambrose Evans-Pritchard is a Keynesian journalist. He fears price deflation more than any other economic outcome. He has warned against price deflation for years. Put differently, he fears a recession that will re-price assets in terms of what the public really is willing to pay. He fears a time of pricing in which the price […]

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Pulling the Plug: Taking Delivery of Gold

Written by Gary North on January 28, 2014


In 2011, the University of Texas investment committee took delivery of what was then just under $1 billion worth of gold. It had held the gold in the form of gold futures contracts. Kyle Bass persuaded the committee to take delivery. This video is worth viewing. Bass explains why he recommended this decision. The statement […]

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Yellen Confirmed by Senate; Set to Become Federal Reserve Chair

Posted on January 9, 2014

Janet Yellen

The U.S. Senate confirmed Janet Yellen, a professor emerita at UC Berkeley’s Haas School of Business, as the first female head of the Federal Reserve on Monday. Yellen, current vice chair of the Fed’s Board of Governors, will replace Ben Bernanke when she takes office on Feb. 1. She was nominated to the position by […]

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Inflation: The Economics of Addiction

Written by Gary North on January 4, 2014

Inflation: of all the dangers to the free market economy, historically and theoretically, the greatest is this one, yet it is one of those subjects that remain wrapped in mystery for the average citizen. This elusive concept must be understood if we are to return to the free market, for without a thorough comprehension of […]

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