Business

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Introduction

by Ron Paul

This week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply “exchanged notes” about the economy and the progress of financial reform. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed.

Today, credit cards are one of the most important sources of big bank profits. However, a look at the history of credit cards shows that things weren’t always that way.

http://player.vimeo.com/video/125349833

Now that the next and final phase of unorthodox monetary policy, i.e., helicopter money, has had the blessing of both Mario Draghi and Ben Bernanke, and is virtually assured, there are three questions: how to trade it; where will it be implemented first (and certainly not last), and how will it all end.

We covered the first part, how to trade it, late on Friday, courtesy of a Deutsche Bank report titled, don't laugh, "Helicopters 101: your guide to monetary financing"

Euro Pacific Capital's Peter Schiff sat down with Alex Jones last week to discuss the state of the economy, and where he sees everything going from here.

Here are some notable moments from the interview.

Regarding how bad things are, and what's really going on in the economy, Schiff lays out all of the horrible economic data that has come out recently, as well as making sure to take away the crutch everyone uses to explain any and all data misses, which is weather.