Fed Decision Today on Interest Rates and QE Extention 12:30EST

Author: goldnews | Filed under: Central Bank News, Forex News, Precious Metals News *Watch here Bernanke’s LIVE Press Conference at 2:15EST:

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The Federal Reserve today will finish off their two day interest rate meeting and will likely be the first decision to adequately settle the question of whether or not the Fed will extend their quantitative easing program due to end in June. Today will also be the second time in history the Fed is holding a press conference, as Chairman Ben Bernanke will be at the plate against an exclusive list of reporters throwing soft balls.
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PIMCO Head Predicts Default for Greece, Other Europeans

The head of the world's biggest bond fund predicted that Greece and other European economies would default on their debts to resolve their problems.

 

 

 

Bill Gross Just Set The Date For Operation Twist 2 And QE3

Just out from Bill Gross:

Spiegel Revisionism 101: "It Will Be Germany's Fault If Euro Fails" 

Submitted by Tyler Durden on 06/22/2011 11:17 -0400

Up until this point, Spiegel has been relatively objective in its coverage of the Eurozone implosion (unlike Handelsblatt, which we still await to apologize for losing all of its readers millions if not billions for urging them to invest in Greek bonds because it is their patriotic duty). That is until today. In an opinion piece, Henrik Muller writes that "if the Euro fails, Germany will be responsible" lamenting that it "may seem absurd that Berlin is perceived abroad as 'euro Nazis' rather than as a benevolent leader. But should the common currency fail, Berlin will be to blame."

Federal Reserve 'Embeds' Employees in Banks

Wednesday, June 22, 2011 – by Staff Report

The Regulator Down the Hall ... Fed and Comptroller of Currency Bolster the Ranks of Staffers 'Embedded' at Nation's Biggest Banks ... Memo to employees at big Wall Street banks and securities firms: Be careful what you say on the elevator. You might be surrounded by regulators. As part of a push to prevent another financial crisis, the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency are increasing the number of examiners who go to work every day at the companies they regulate. Much like reporters assigned to a military unit during war, these regulatory "embeds" get unprecedented access to financial firms such as Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley. – Wall Street Journal
Dominant Social Theme: Regulators always get it right.
Free-Market Analysis: Is there any justification for this? The dominant social theme "embedded" in the above article is clear: More efficient regulatory endeavors will reduce the kind of financial crises that have been prevalent throughout the history of modern capitalism. Only more and better government regulation is the answer.
Of course, the regulatory answer to big businesses excesses has not worked in the past and there is no reason why it will work in the future. Every regulation is actually a price fix that further distorts the marketplace and transfers wealth from producers to mere distributors.
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At King World News, Pierre Lassonde explains how to avoid panic

 

 

International Forecaster June 2011 (#7) - Gold, Silver, Economy + More
By: Bob Chapman, The International Forecaster

Austerity Is Good By: Gary North

Gold Falls in Dollars – But Sterling Price Hits New High, Greeks Hoard Bullion "Just Like in WW2"
By: Adrian Ash, BullionVault

Appeals brief for Liberty Dollar examined by WorldNet Daily

 

 

IMPORTANT Hearing on Auditing the US’ Gold Stock Thursday

Author: goldnews | Filed under: Economic News, Political News, Precious Metals News On Thursday at 2:00 EST, the Monetary Policy Committee in the House, headed by Chairman Dr. Ron Paul, will inquire into auditing the Treasury’s gold reserve. Dr. Paul has introduced legislation known as the ‘Gold Reserve Transparency Act of 2011′ (officially H.R. 1495), that will be the topic of discussion at the committee, and is designed to require a full and thorough audit of the Treasury’s gold. Read the rest of this entry »