Though it has only very briefly brushed against the $21-an-ounce mark, the silver price today reversed course from last week when the white metal was down for the first time in six weeks.
- Silver Price Today Moves on New Inflation Numbers and Overseas Tensions
- Bank Insurers Bet It All at the Deal Table... With Your Money
- Prepare Now for When the New MyRA Becomes "TheirRA"
- Time to Buy These "Out of Print" Assets
Here's a story about a bank that failed, got rescued, was resuscitated, and made its private equity investors more than 100% on their money, all the while costing the FDIC around $5.9 billion.
It's not a story about a failed bank... although it is.
It's not a story about how smart the bank's private equity "rescuers" were... although it is.
It's not a story about how the FDIC is such a great savior of banks.
Or that that moral hazard exists manifestly because the FDIC is a tool (not as in a tool used to fix something) that lets banks run hog-wild... although it is.
This is a story about how nothing has changed and why another bank crisis is coming... Full Story
In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA."
Something immediately felt wrong about the proposal... but I couldn't put my finger on it.
So I researched the new MyRA and found details to help you understand just how it works.
From the Editor: We've been tracking this threat for years, ever since Keith Fitz-Gerald brought it to your attention back in January 2010. Today, Resources Specialist Peter Krauth weighs in on some recent developments in this story, because three of the commodities he covers can protect you. The Fed can't print these things... Here's Peter:
Central banks may have foolish policies, but central bankers are no dummies.
They know exactly what they're doing. They even comprehend a few of the implications, too.
Which is why it's interesting that some American central bankers have suggested doing away with the debt ceiling altogether.
Famed investor Marc Faber recently said, "The question is not tapering. The question is at what point will they increase the asset purchases to say $150 [billion], $200 [billion], a trillion dollars a month."
Faber expects the Fed's current QE4 to become "QE4-ever."
That could mean years of money printing and ultra-low rates.
Even bond king Bill Gross recently chimed in his latest monthly outlook that "The United States (and global economy) may have to get used to financially repressive - and therefore low policy rates - for decades to come."
Either way, don't depend on the Fed to save you. You can save yourself