Currency

Steve Forbes: Link dollar to gold or face Great Depression II

Influential financial publisher and former presidential candidate Steve Forbes is out with a new warning that the U.S. faces an economic catastrophe due to the Federal Reserve‘s loose dollar policy, and returning to a strict “gold standard” is the only way to avoid disaster.

In Money: How the Destruction of the Dollar Threatens the Global Economy — and What We Can Do About It, Forbes blames President Obama‘s money team for the stagnant economy, high prices, declining mobility and big government.

“[The Fed's] vastly misguided monetary policies are now setting the stage for a new economic and social catastrophe — one that could rival the financial crisis and horrors of the 1930s,” he wrote in the book co-authored by Elizabeth Ames.

Just like many financial conservatives have advised in the past, notably former Reps. Jack Kemp and Ron Paul, Forbes said that economic prosperity can come only if the dollar is linked to gold and not printed willy-nilly at inflated rates.

“The best way to achieve monetary stability: linking the dollar to gold,” he wrote in the book out today. “The Fed should have only two tasks: keeping the dollar fixed to gold and dealing quickly and decisively with panics,” he wrote, according to excerpts provided in advance to Secrets.

Forbes has long been a leading conservative voice on the economy, and his latest book is likely to revive calls for a gold standard.

 

Washington Examiner has the full article

London's Drive To Become The Sharia Finance Capital Of The West

London’s Drive To Become The Sharia Finance Capital Of The West

London is pushing to become the Western capital for sharia finance in spite of the many potential ​dangers​. This past November, London hosted the 2013 World Islamic Economic Forum. Speaking at that event, Prime Minister David Cameron said: “I want London to stand alongside Dubai and Kuala Lumpur as one of the great capitals of Islamic finance anywhere in the world.”… Read more →

Russia signs 30-year gas deal with China

Russia signs 30-year gas deal with China

Russia’s President Vladimir Putin has signed a multi-billion dollar, 30-year gas deal with China. The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making. Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the crisis in Ukraine. No official… Read more →

Mitch McConnell Calls Reid’s  Proposal To Amend the Constitution a ‘Gag Order’

On the Senate floor Thursday, Senate Minority Leader Mitch McConnell (R-KY) called Senate Majority Leader Harry Reid’s (D-NV) campaign finance constitutional amendment proposal a “gag order” that will “muzzle” American’s freedom of speech.

McConnell reasoned that freedom of speech and debate is what drives the marketplace of ideas, not laws. But Reid argued that without laws, democracy will succumb to a “hostile takeover” from the wealthy, like the Koch brothers. Reid said, “[T]he flood of special interest money into our American democracy is one of the greatest threats our system of government has ever faced. Let’s keep our elections from becoming speculative ventures for the wealthy and put a stop to the hostile takeover of our democratic system by a couple of billionaire oil barons.”

An excerpt from McConnell’s speech:

It’s a gag order — a gag order on the American people that we represent. Instead of robust, free-wheeling debates about the important issues of the day, we get bizarre monologues about the Democrats’ latest villains. We get silly, shameful attacks on private citizens. So in one sense, it’s fitting that the majority leader announced today he wants to rewrite the Constitution. I mean, at least you have to give them marks for consistency. They are already muzzling our constituents by blocking amendments. Now, they want to muzzle them even more by changing the Bill of Rights. This is completely out of control. Even if the democratic majority doesn’t like our ideas or those of our constituents, the answer isn’t to take away their constitutionally guaranteed right to speak their minds. The answer isn’t — isn’t — to shut down their representatives’ ability to influence legislation through amendment. The answer, my friend, is to come up with better amendments. Come up with better amendments. The answer is to actually convince people in a free and open marketplace of ideas that you’re right. Why are Washington Democrats so afraid of a free and open exchange of ideas? What are they afraid of? Do they have that little faith in the judgment of the people we represent?

This is a copy of the full article provided by the Conservatives at Truth Revolt

A preview of his (Reid’s) speech:

The Kochs’ bid for a hostile takeover of American democracy is calculated to make themselves even richer. Yet the Kochs and their Republican followers in Congress continue to assert that these hundreds of millions of dollars are free speech. For evidence of that, look no further than the Republican Leader, who has flat out said, ‘in our society, spending is speech.’….I urge my colleagues to support this constitutional amendment — to rally behind our democracy. I understand what we Senate Democrats are proposing is no small thing — amending our Constitution is not something we take lightly. But the flood of special interest money into our American democracy is one of the greatest threats our system of government has ever faced. Let’s keep our elections from becoming speculative ventures for the wealthy and put a stop to the hostile takeover of our democratic system by a couple of billionaire oil barons.

 

The Conservatives at Truth Revolt have the full article on Reid

Media Blacks Out Warren Buffett’s Billion-Dollar Pro-Abortion Efforts

Media Blacks Out Warren Buffett’s Billion-Dollar Pro-Abortion Efforts

Tuesday, Fox News opinion writer Dan Gainor outlined Warren Buffett’s long-time, extensive support of abortion providers and advocacy organizations, giving over $1.2 billion to abortion groups since 2001 and placing a fervent abortion activist at the head of his own charity. Despite Buffett’s billion-dollar efforts to promote abortion, however, the media has almost entirely blacked out the story. Gainor claims that from… Read more →

Breakingviews: Forget the tech bubble

 

Chancellor Merkel outlines German position ahead of EU summit on Crimea

Chancellor Merkel outlines German position ahead of EU summit on Crimea

Chancellor Angela Merkel has said Germany supports tighter EU sanctions on Russia over its annexation of Crimea. This came ahead of an EU summit in Brussels to discuss the bloc’s collective response. Chancellor Merkel used her speech to the Bundestag on Thursday to tell lawmakers that her government supported plans to step up sanctions on Moscow as a result of… Read more →

Ticking Timebomb: Moscow Moves to Destabilize Eastern Ukraine

Ticking Timebomb: Moscow Moves to Destabilize Eastern Ukraine

…Will Conflict Split Ukraine? Indeed, the conflict could ultimately split Ukraine — with the east turning to Moscow and the west to the European Union. If that were to happen, it’s possible the new government in Kiev would lose the part of the country that is most important economically because the coal mines and the steelmaking plants of the east… Read more →

China Begins Trading Yuan Directly with New Zealand

China Begins Trading Yuan Directly with New Zealand

In the latest sign that China is looking to replace the dollar as the international reserve currency, China’s central bank announced today that it would be engaging in direct currency-to-currency trading between the yuan and the New Zealand Dollar. The People’s Bank of China called this a “significant step forward” according to the official Chinese news agency Xinhua. This marks just the… Read more →

U.S., Citing ‘Urgent’ Need, Calls On Hospitals to Improve Disaster Plans

U.S., Citing ‘Urgent’ Need, Calls On Hospitals to Improve Disaster Plans

Federal officials are proposing sweeping new requirements for American health care facilities — from large hospitals to small group homes for the mentally disabled — intended to ensure their readiness to care for patients during disasters. Describing emergency preparedness as an “urgent public health issue,” the proposal by the Department of Health and Human Services offers regulations aimed at preventing the severe disruptions to… Read more →