Billionaire John Paulson lost almost $1 billion as gold posted its steepest decline in 30 years hitting $1,361 per ounce. The precious metal is no longer seen as a safe-haven asset. Those who decided that it was too early to dump gold for good, lost a lot in the past few days. Billionaire John Paulson lost almost $1 billion of his personal wealth in the past two days as gold price fell to its lowest... 

An interesting article in Forbes entitled “If Alan Greenspan Wants To ‘End The Fed’, Times Must Be Changing,” informs us that the predictions we made long ago about the Federal Reserve are coming true. The author of the article is Nathan Lewis, an economist, former strategist for institutional investors and author of a best-selling book Gold, the Once and Future Money. Our predictions regarding... 

Germany’s central bank is set to reclaim some of its vast gold reserves held in the US and France, a German daily reported. The move follows an audit criticizing Bundesbank for mismanagement, stating the funds had never been “verified physically.” Bundesbank voiced plans to withdraw its entire 450-ton store of gold bullion from the Bank of France in Paris, and a portion of the 1,500 tons currently... 

Owners of wrongfully repossessed houses could now get up to $125,000 as ten major US banks agree to settle federal complaints. This will end a foreclosure review process begun by a 2011 enforcement action. Under the new agreement, those people who had their homes seized and then sold would get the biggest pay offs, while banks who failed to modify people’s loans in light of a change of income would... 

Retiring US Congressman Ron Paul American Congressman Ron Paul has blasted the US ruling establishment as corrupt, bent on promoting wars, undermining liberties, and assassinating those it considers terrorists. Throughout a 50-minute address to the chamber of the US House of Representatives on Wednesday, the retiring Texas congressman questioned not only the fundamental well-being of his nation’s... 

Former money manager Ann Barnhardt, who in November of 2011 made the decision to cease operations of her brokerage firm and return funds to her customers citing “systemic” problems within the entire financial industry, has issued a new warning about the stability of US banks and the safety of individual deposit accounts. The warning, stemming from a recent federal appeals court ruling surrounding... 

A massive trove of gold kept under lock and key five stories below Manhattan at the New York Federal Reserve has been undergoing its first audit in history. It could put conspiracy theories – for example, that the gold is a sham – to sleep for good. According to the official record, the US government keeps billions of dollars in gold stored beneath the New York Fed’s Italian Renaissance... 

On Wednesday, Ron Paul’s bill to audit the Federal Reserve was overwhelmingly passed by the U.S. House of Representatives. The vote was 327 to 98. You would think that a bill with such overwhelming support would easily become law. But it won’t, because Barack Obama and the Democrats plan to kill it. Senate Majority Leader Harry Reid has already said that the Senate will not even consider the bill.... 

A bill introduced by Rep. Ron Paul (R-Texas) to audit America’s central bank, the Federal Reserve, passed the US House of Representatives overwhelmingly Wednesday afternoon by a 327-98 vote. Paul’s ongoing efforts to call for increased transparency in the Federal Reserve have become a hallmark of his tenure in Congress and of his current campaign for the presidency. Rep. Paul is still vying for... 

Federal Reserve Chairman Ben Bernanke testified before Congress this week and warned lawmakers that America’s economic future is landing flat on their shoulders. During a Thursday meeting with congressional leaders in Washington, DC, Chairman Bernanke revealed that the dire dilemma of an “Taxmaggedon” coming to America is not just real but likely to rear its ugly head very soon if Capitol Hill... 

Euro fell against the dollar in the Asian session to erase gains made yesterday. Risk was off again after comments by Federal Reserve Chairman Ben Bernanke disappointed. He refrained from signalling immediate steps the U.S. central bank might take to spur growth in the world’s largest economy. Before Bernanke’s comments , market sentiment was high yesterday as the central bank of China... 

Announcement: Federal Reserve Chairman Ben Bernanke attends a news conference following a two-day policy session in Washington D.C. on Wednesday Europe’s debt crisis poses huge risks to America – while improvements in growth and unemployment are going to be much slower than first thought. Those were today’s dire warnings from the U.S. central bank, although it did note the strengthening in... 

This story from Bloomberg just hit the wires this morning. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval... 

How far does the stock market have to go down before we officially call it a crash? The Dow is now downmore than 2,000 points in just the last 14 trading days. So can we now call this “The Stock Market Crash of 2011″? Today the Dow was down 519 points. Yesterday, an announcement by the Federal Reserve indicating that the Fed would keep interest rates near zero until mid-2013 helped the Dow surge... 

Thats right. The Fed owns NO gold. Zero, zip, ziltch. For those of you who did not watch yesterday’s monetary policy hearing in the house of representatives, you most likely missed this bombshell exchange between Federal Reserve lawyer Scott Alvarez and committee chairman Dr. Ron Paul. My jaw literally dropped when I heard the Fed’s general counsel declare that the Federal Reserve owns no gold....