Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich? Continue reading
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Author Archives: Paul Craig Roberts and Dave Kranzler
Our house of cards
As John Williams (shadowstats.com) has observed, the payroll jobs reports no longer make any logical or statistical sense. Ask yourself, do you believe that retailers responded to the very disappointing Christmas season by rushing out in January to hire 46,000 more retail clerks? Continue reading
US resorts to illegality to protect failed policies
In a blatant and massive market intervention, the price of gold was smashed last Friday. Right after the Comex opened on Friday morning 7,008 paper gold contracts representing 20 tonnes of gold were dumped in the New York Comex futures market at 8:50 a.m. EST. At 12:35 a.m. EST 10,324 contracts representing 30 tonnes of gold were dropped on the Comex futures market. Continue reading
Interest rate puzzle
One of the biggest puzzles in the financial markets this year has been the considerable fall in interest rates, despite the Fed’s program of tapering or cutting back the Fed’s bond purchases known as Quantitative Easing. A year ago, when Fed Chairman Bernanke announced the possibility of tapering QE on May 22, 2013, the 10-year Treasury yield was 2.03%. The yield quickly moved up close to 3% after Bernanke’s taper comments, forcing the Fed to retract or “clarify” them. Since January 2014, however, when the Fed actually began tapering, the 10-year yield has steadily declined from over 3% to it’s current yield of just over 2.5%. Continue reading
More on Belgium’s purchases of Fed Treasuries
In response to our account of the mysterious large rise in Belgium’s Treasury purchases, The Fed is the great deceiver, it was suggested that the transaction would show up on the Fed’s balance sheet. However, the Fed is under no obligation to show the transaction. Continue reading
The Federal Reserve is the great deceiver
Is the Fed “tapering”? Did the Fed really cut its bond purchases during the three-month period November 2013 through January 2014? Apparently not if foreign holders of Treasuries are unloading them. Continue reading
The Federal Reserve has no integrity
As we documented in previous articles, the gold price is driven down in the paper futures market by naked short selling by the Fed’s dependent bullion banks. Some people have a hard time accepting this fact even though it is known that the big banks have manipulated the LIBOR (London Interbank Overnight Rate—London’s equivalent of the Fed Funds rate) interest rate and the twice-daily London gold price fix. Continue reading
Why is the Fed tapering?
On January 17, 2014, we explained “The Hows and Whys of Gold Price Manipulation.” In former times, the rise in the gold price was held down by central banks selling gold or leasing gold to bullion dealers who sold the gold. The supply added in this way to the market absorbed some of the demand, thus holding down the rise in the gold price. Continue reading
