FED Intervenes: Dollar Falls, Gold Rises

Written by Gary North on December 1, 2011

By now, you know that the Federal Reserve and other central banks promised to supply dollars to help bail out the Eurozone. The FED is going to be the lender of last resort for Europe. The dollar fell. Gold rose. There will be lots more headlines like this over the next decade. This is not […]

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Which Governments Owe How Much to Foreign Banks?

Written by Gary North on November 29, 2011

Each nation’s government owes money to foreign banks. The foreign banks are threatened by a default — an “Iceland event.” The biggest debtor is the USA. If our government defaults, the West’s economy collapses. Which nation is most at risk today of foreign governments’ defaulting? France. France is Italy’s biggest creditor. But Italy is close […]

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