Make Money Free Again
Two days after Donald Trump became the first American since Grover Cleveland to win nonconsecutive presidential elections, the Federal Reserve announced a quarter percent cut in interest rates. Following this announcement, Fed Chairman Jerome Powell held a press conference where he said that he would not comply with any presidential request that he step down before his term ends in May of 2026.
Powell claimed that the president lacks the legal authority to fire the Fed chairman. So, if President Trump tells Chairman Powell “you’re fired,” Powell could bring suit asking a court to review Trump’s action.
President Trump and Chairman Powell are at odds over President Trump’s desire to require the Federal Reserve to consult with the president before changing interest rates or taking other significant actions… (Continue to full article)
Totalitarianism Begins With A Denial of Economics
The competent economist – when presented with a proposed plan of action – always asks: Is the means adopted suitable for the attainment of the end in view? He critically analyzes the means in question and declares their fitness or unfitness on the basis of logical demonstrations that are unassailable and apodictly true. This peculiar task of the economist is often misapprehended as an expression of his value judgments and an attempt to frustrate the attainment of ends chosen. Thus, the economist is often met with disapproval.
More significant in the history of the science are the several attempts to discredit the economists through a denial of economics as a universally-valid science, applicable for all peoples, times, and places. This is a pernicious attempt because the social, political, and economic consequences tend to be disastrously far-reaching. This article attempts to establish a connection between a denial of economics and the emergence of totalitarianism… (Continue to full article)
We’re Already on Track for a $2 Trillion Deficit this Year
The Treasury Department posted its latest revenue and spending totals this week, and deficits continue to mount at impressive speed.
During October – the first month of the 2025 fiscal year – the federal deficit was more than a quarter of a trillion dollars, coming in at $257.4 billion. Tax revenue in October had totaled $326 billion, but spending totaled $584 billion.
Now one month into the new fiscal year, the federal government is on pace to add more than $2 trillion dollars to the national debt during the 2025 fiscal year. If the economy significantly worsens in coming months – and tax revenues plummet as they do during times of economic trouble – the deficit will be much larger than $2 trillion stock indices, we believe gold has more room to run over the next six to 12 months… (Continue to full article)
Gold surges on Goldman Sachs’ bullish $3,000 forecast amid global uncertainties
Gold prices demonstrated remarkable strength in New York trading, surging $47.40 to reach $2,615.20 for December futures, marking a 1.85% daily gain. While dollar weakness contributed to the precious metal’s ascent, with the dollar index falling 0.51% to 106.257, market analysis reveals that robust bullish sentiment drove approximately 1.36% of the day’s gains independently of currency movements.
This significant upward movement appears to have halted a six-day losing streak and potentially marks the end of a substantial price correction that began on October 31, when gold futures peaked above $2,800 per ounce. The correction had seen prices decline by roughly $261, reaching an intraday low of $2,541.50 last Thursday.
J.P. Morgan Global Commodity Research provides context to the recent market dynamics, noting that gold futures experienced a 7% reduction in open interest last week, largely attributed to substantial outflows of $6.8 billion from gold ETFs… (Continue to full article)
How Much Emergency Cash Should You Keep at Home?
It is the final backup plan for a lot of us in the case of a disaster. A generous supply of cold hard cash to buy our way out of trouble, pick up as many last-minute supplies as possible or to acquire resources that are unavailable to anyone with a credit card in a world where the electricity is out and the internet is down. We frequently talk about having cash for emergencies, but how much cash should you have if the grid goes down?
What will you be able to purchase with your doomsday supply and how long would it last in the first place?
One of our readers made a recommendation the other day to have between $500 and $1000 in cash for your bug out bag and at the time it prompted me to consider again if this amount makes sense. In my personal preparedness plans I have a supply of cash but I am always trying to figure out if what I have is enough or too much… (Continue to full article)
Consumers Are Drowning In Debt As Hordes Of Businesses Fail All Over The U.S.
Prepare your family now Photo by Richelleg/canva
U.S. consumers have piled up the largest mountain of household debt in the history of the world. If the federal government was not almost 36 trillion dollars in debt, the fact that U.S. households are nearly 18 trillion dollars in debt would be making a lot more headlines. Sadly, our entire society is absolutely saturated with debt at this point. Government debt on all levels is spiraling out of control, corporate debt has ballooned to absurd levels, and consumers have been gorging on debt as if there will never be any consequences. Unfortunately, a time of reckoning has arrived, and it is going to be incredibly painful.
Last Wednesday, we learned that total credit card debt has surged to a brand new record high of 1.17 trillion dollars…
Needless to say, incomes have not increased by 8.1 percent over the past year. So our credit card balances are growing faster than our paychecks are, and that is a problem… (Continue to full article)
Over 800 IRS Employees Owe Millions in Back Taxes After Audits Pushed by Ernst
…and the IRS employees DID!
Over 800 Internal Revenue Service employees still owe millions in back taxes despite heavy criticism from Sen. Joni Ernst (R-IA), who is hoping the level of tax waste will be squashed by billionaire Elon Musk , the newly tapped co-leader of the Department of Government Efficiency .
In a letter to the Iowa senator sent on Nov. 8 and shared exclusively with the Washington Examiner, the IRS noted that of the 2,044 employees who reported having balances totaling more than $12 million, 860 employees still have not paid overdue taxes. Only 20 of the 70 employees who “willfully evaded” paying their taxes were removed.
“We haven’t seen a tax revolt like this since the Boston Tea Party,” Ernst said in a statement. “If hardworking Americans dodge taxes, they are faced with steep fines and imprisonment, but it appears that tax collectors in Washington believe those rules are for thee but not for me.”… (Continue to full article)
The Silent Economic Underclass and a Conservative Call for Reform
In the quiet corners of America, far from the clamor of partisan battles and the dazzle of technological innovation, lies an issue that demands our immediate attention. It’s not the latest in digital warfare or the next big tech breakthrough, but rather the plight of an often overlooked segment of our population – the silent economic underclass. This op-ed seeks not just to illuminate this issue but to propose a conservative yet balanced approach to address what might be one of the most pressing challenges of our time.
The economic underclass in the United States isn’t defined by flashy statistics or viral hashtags; they are the working poor, the underemployed, and those trapped in cycles of poverty that seem almost designed to perpetuate themselves. These are individuals whose daily struggles are not chronicled on social media, but are lived out in the grind of low-wage jobs, and in neighborhoods where opportunity is not a given but a rare commodity… (Continue to full article)
One of the main reasons why Americans are in such a foul mood right now is because the economy is in really bad shape and it just keeps getting worse. This is very good news for the Trump campaign, because most Americans don’t want things to remain the same.
Of all government assistance payments in 2022, 56 percent went to the elderly, mostly for Medicare
Americans, living in what is called the richest nation on earth, seem always to be short of money. Wives are working in unprecedented numbers, husbands hope for overtime hours to earn more, or take part-time jobs evenings and weekends, children look for odd jobs for spending money, the family debt climbs higher, and psychologists say one of the biggest causes of family quarrels and breakups is “arguments over money.” Much of this trouble can be traced to our present “debt-money” system.
I remember a German farmer expressing as much in a few words as the whole subject requires; “money is money, and paper is paper.”
