War Is The Health Of The State - Protecting Yourself From "Financial Tyranny"

Our current monetary system is the root cause of many evils of today. Let’s take war, a topic we discussed in this article, as an example. Without a monetary system that creates currency out of thin air, most of the wars that we have had and still have would simply not be financeable. This system is controlled by a few, who change the rules to their own benefit. And as we have seen they use their privileges to finance wars and to bribe politicians. By holding your wealth in precious metals you are rejecting the current system and also protecting yourself from “financial tyranny”. This includes: capital controls, expropriation, bail-ins, bailouts, negative interest rates, market manipulation on a wide scale and massive paper currency fluctuations.

Vote With Your Feet: Free States Are Happier & Richer

The greater the economic freedom, the wealthier and happier the people. States with more libertarian free market policies enjoy better results: greater median incomes, a more equitable distribution, less poverty, greater success for minorities and immigrants, and higher overall levels of happiness and well-being. In the political rhetoric landscape the battle of ideology is fierce and filled with demagoguery; in the real world the difference in results between competing economic policies are strikingly clear.

The Misguided Paperati & Bifurcated 'Gold' Markets

The gold market seems to have bifurcated: one market for largely paper speculation and high leverage, and another for the purchase and distribution of actual physical bullion. This is a problem because the attitude towards gold among the status quo in the West has become rigidly dogmatic, supported by years of lazy thinking and a determined the campaign of ridicule and propaganda to try and extend the unsustainable. There is going to be a reconciliation of attitudes and realities at some point, and like vast tectonic plates unable to move but building greater and greater pressure, the longer that the status quo and their courtiers try to maintain their modern aristocracy, the more dramatic that change may be when it finally comes.

Yellen Responds To Allegations The Fed Is Responsible For America's Record Wealth Gap

"There have been a number of studies that have been done recently that have tried to take account of many different ways in which monetary policy acting through different parts of the transmission mechanism affect inequality, and there's a lot of guesswork involved, and different analyses can come up with different things. But a pretty recent paper that's quite comprehensive concludes that the -- that Fed policy has not exacerbated income inequality."

2Y Yields Collapse Most Since 2009 As December Rate-Hike Odds Crater

The probability of a rate-hike in December collapsed from 65% yesterday to just 45% today after Yellen's admission that any and everything will keep them on hold as they wait for nirvana to allow interest rates to rise again. This rippled across the Treasury curve and after Tuesaday's record-breaking spike in yields, 2Y yields collapsed 13bps today - the biggest single-day plunge since QE was unleashed in March 2009.

Maxine Waters Congratulates Yellen On Not Hiking Rates, Says ZIRP Is Precisely What "Minorities" Need

"I am pleased the Federal Reserve under the leadership of Chair Yellen has chosen to exercise a prudent and cautious approach to safeguarding our economy by carefully weighing the full range of economic data in assessing whether to raise interest rates.  Moving to prematurely raise rates will endanger the critical economic progress we have made, and threaten any gains minorities have only begun to make on the tail end of this recovery. "

Fed Chickens Out Again, Fails To Raise For 55th Consecutive Time - FOMC Statement Comparison

With a 54-0 record without a rate hike (better than Floyd Mayweather's), and 58 Economisseds expecting no change, 3 a half-pregnant 13bps hike, and 53 expecting a 25bps hike, The Fed was always going to break someone's heart today. Bond yields and the USD were tumbling into the decision, which appeared correct as The Fed chickened out again...

  • **FOMC: NO POLICY CHANGE, 0-0.25% TARGET 'REMAINS APPROPRIATE'
  • **FOMC: GLOBAL ECON,FIN EVENTS 'MAY RESTRAIN ECON ACTIVITY'
  • **FOMC: VOTE 9-1; LACKER DISSENTS, WANTED 25 BPS HIKE

Given the "no hike", it is clear that, as we noted, Goldman is still in charge and Hilsy is still leaker-in-chief. All eyes now on the dot-plots as The Fed desperately tries to regain some credibility, stifle uncertainty, and calmly reassure markets that "we've got your back."

Pre-FOMC: S&P Futs 2000.5, 10Y 2.26%, 2Y 77.5bps, EUR 1.1330, Gold $1118