The Case For Gold
Although this article was written in January 2002, Meyer's points are even more relevant today. The subject of money is rarely discussed by the press or Wall Street, and it is not taught in school. But money – real money – is the most overlooked yet most important issue confronting our welfare.
Investors are obsessed with financial assets and smitten with an almost blind faith in the Federal Reserve, and they ignore the analysis of money, the basis for all their financial assets. This is a fatal flaw, since the foundation of all their financial assets is terminally ill.
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Without a doubt, President Obama has clearly targeted higher income earners for tax increases, but he has vowed to not impact other wage level earners.
However, House Majority Leader Steny Hoyer, a Democrat from Maryland, says "that thinking may have to be reconsidered."
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BP today announced that, by mutual agreement with the BP board, Tony Hayward is to step down as group chief executive with effect from October 1, 2010.
This must be a real blow to BP to lose one if it's smartest guys. BP chairman Carl-Henric Svanberg said: "The BP board is deeply saddened to lose a CEO whose success over some three years in driving the performance of the company was so widely and deservedly admired."
Silver value today is at a critical juncture in history. The current fundamentals of supply and demand are about to spur an explosion in silver prices after building pricing pressure over the last 60 years… and it's going to blow soon. Your financial future depends on tapping silver value today.
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It's a story not being told by the mainstream media, but Erskine Bowles, President Obama's debt and deficit commission co-chair, offered an ominous assessment of the nation's fiscal future last Sunday, calling current budgetary trends a cancer "that will destroy the country from within" unless checked by tough action in Washington.
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The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).
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Ten Stories In The News That The BP Oil Spill Is Overshadowing
The mainstream media is running a 24 hour news cycle focusing purely on the BP oil spill, a disaster that is being intentionally hyped in order to sell cap and trade legislation and moves to nationalize big business.
More on So, What are You Missing with all the BP Oil Spill News?
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“Earlier this week, the Bank of England Governor, Mervyn King, irked US authorities by pointing out that even the world’s economic superpower has a major fiscal problem – ‘even the United States, the world’s largest economy, has a very large fiscal deficit’ were his words. They were rather vague, but by happy coincidence the International Monetary Fund has chosen to flesh out the issue today… The IMF analysis is fascinating… the really interesting stuff is the detail, and what leaps out again and again is how much of a hill the US has to climb.” Conway discusses US gross debt as a percentage of GDP; the rising cost of extra healthcare and pensions; and the alarming amount of new debt it has to issue in coming years in order to keep on functioning. All in all, the US needs 12% of GDP lopped off its structural deficit. That’s $1.7 trillion, or almost all of Britain’s annual economic output. Because the dollar is the world’s reserve currency, the US has been able to keep borrowing at low levels throughout the crisis. This means the US has yet to feel the market strain, and also means the US has yet to face up to the public finance disaster that could come if it doesn’t handle the problem. While the US is not Greece, it could head in that direction if it does not start making efforts to cut the deficit. The upshot would be a dollar collapse, and a possible hyperinflation. The US has time to deal with its problems, but not forever.
More on US Faces One of Biggest Budget Crunches in the World – IMF
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