While the concept of 'independence' among the unelected central bank cognoscenti is as cute as the tooth fairy or santa claus, it is nevertheless defended by those on high as sacrosanct to our very democracy. That is until The Wall Street Journal's editorial board finally had enough of Fed officials joining the 'resistance' against financial reform...
Via WSJ,
Total G-3 Central Bank Control
Posted with permission and written by Craig Hemke, TF Metals Report
Will be leaving for Missouri soon for a speech on tax cuts and tax reform - so badly needed!
— Donald J. Trump (@realDonaldTrump) August 30, 2017
Having in recent weeks boosted his estimate for government shutdown odds to even, or 50%, in a note overnight from Goldman's Jan Hatzius, the bank's chief economists writes that due to the human tragedy from Hurricane Harvey, the odds of a shutdown have been again reduced, back to Goldman's original estimate of 33%.
Authored by James Rickards
Last week featured two unusual stories on gold - one strange and the other truly weird. These stories explain why gold is not just money but is the most politicized form of money.
They show that while politicians publicly disparage gold, they quietly pay close attention to it.
The first strange gold story involves Germany…
The Deutsche Bundesbank, the central bank of Germany, announced that it had completed the repatriation of gold to Frankfurt from foreign vaults.