So, it will be 100 years on Dec. 23 since the Federal Reserve was born. The purpose in 1913 was to form a regulatory body to help stem the tide of bank failures in the United States of America. How has it done?
Smart money is still accumulating physical gold and the banks know this and realize that in order to retain clients and income they must offer bullion services and storage outside the still fragile banking system.
The world's economy is in tatters and safe havens are few and far between, says legendary contrarian Marc Faber. The banking crisis in Cyprus has shown that even bank deposits are not safe. So where can a person park their money?
I have always been fascinated by what motivates people. What motivates Tiger Woods to pursue the goal of being the world’s greatest golfer? What’s the motivation driving Warren Buffett to continue purchasing companies instead of retiring in Tahiti?
It has been obvious for some time that banks in many jurisdictions are insolvent and that they are simply too big for governments to rescue. It should come as no surprise that central bankers have been considering how to deal with this problem and that they have resolved a solution.