Treasury Secretary Mnuchin Tweets from Fort Knox “Glad the gold is safe.”

WE NEED TO COUNT IT, NOT TAKE A BANKER’S WORD FOR IT.

Is the word of an ex-

Bloomberg

U.S. Treasury Secretary Steven Mnuchin paid a rare official visit to Fort Knox to check out the nation’s gold stash on Monday — while keeping an open mind for future film projects.

“I assume the gold is still there,” the former Hollywood producer quipped to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.” After the visit, he playfully reassured Americans the treasure was still secure.

“Glad gold is safe!” he wrote in a post on Twitter.

Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played by Sean Connery, foiled a plot to contaminate the nation’s bullion.

Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he would be only the third secretary of the Treasury to go inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

Rand Paul argues that it’s time to audit the Fed. I assume that a thorough audit would include counting the gold in Fort Knox.

It is time to defy the critics and pass the Federal Reserve Transparency Act, which would be a momentous victory for accountability and transparency and send the establishment’s head spinning, Kentucky Sen. Rand Paul wrote in an opinion piece in The Daily Caller on Monday.

More popularly known as “Audit the Fed,” the act would “open up the Fed’s agreements with foreign governments and central banks, its discount window and open market operations, its member bank reserves, and its Federal Open Market Committee directives to thorough examination by the people’s representatives — for the first time since its creation in 1913,” Paul wrote.

The act does this, Paul explained, by removing “the restraints on how the nonpartisan, independent Government Accountability Office can audit the Federal Reserve System, requiring the GAO to conduct an audit within one year of the bill’s passage and report back to Congress within 90 days of finishing it.”

Paul said that skeptics have said that since the nation’s central bank is one of the most powerful institutions in Washington, passing such legislation would never be feasible, but the senator credited “grassroots Americans” for making sure that congressmen don’t give up the struggle to make it into law.

The measure has already passed the House and last year missed reaching cloture by only seven votes.

Paul praised those supporting the bill as “concerned Americans who look down the road and wonder how much of our nation’s prosperity and opportunity will be swallowed up by debt or lost in financial crises fueled by artificial market signals and central planners’ economic tinkering.”

Trump is meeting with an ex-bank CEO who wants to abolish the US Federal Reserve

Boise Idaho Tea Party - Save The US Abolish the Federal Reserve

President-elect Trump ought to be meeting with Ron Paul.

Business Insider Australia

As President-elect’s Donald Trump’s transition rolls on, more and more attention is being paid to possible selections for a variety of high ranking positions, and meetings that might help decide these appointments.

On Monday, Trump will meet with John Allison, the former CEO of the Winston-Salem, NC-based bank BB&T and former CEO of the conservative think tank The Cato Institute.

While it is unclear what Allison is being considered for, there have been reports that he is being considered for the Chair of the Securities and Exchange Commission, Treasury Secretary, or a spot as the Federal Reserve Governor of Oversight.

The last possible appointment is interesting given Trump’s statements on the campaign trail have questioned the future of the Federal Reserve’s political independence. Allison actually takes that rhetoric a step further. While running the The Cato Institute, Allison wrote a paper in support of abolishing the Fed altogether.

“I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed,” wrote Allison in a 2014 article for the Cato Journal, a publication of the Institute.

Allison said in the article that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system.

“When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult,” wrote Allison. “Markets do form bubbles, but the Fed makes them worse.”

Allison, in the same paper, also suggested that the government’s practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by “a market standard such as gold.”

Allison also argued for higher capital reserves of up to 20% of assets at banks. On the other hand, he also argued that the government should repeal three of the broadest banking regulations.

“We should raise capital standards, but it is even more important to eliminate burdensome regulations — including Dodd-Frank, the Community Reinvestment Act, and Truth in Lending,” wrote Allison. “About 25% of a bank’s personnel cost relates to regulations. Banks cannot pay the regulatory costs and have high capital standards.”

This is similar to Trump’s desire to roll back regulation — including Dodd-Frank — on financial institutions, though he has back-tracked somewhat on those promises.

It is unclear if any of Allison’s policy views will ultimately become a part of Trump’s plan going forward, but given the unconventional nature of his ideas, the meeting is notable.

federal reserve sunk america

The USA Is An “economic basket case”–So What’s Next?

ReflectAmericasFall

The American Empire is collapsing. The ability of “quantitative easing” to power up anything other than rigged financial markets is waning. How long before the markets weaken and fall is anybody’s guess.

The economy allegedly grew 0.2 percent in the first quarter of 2015, but that number was undoubtedly pulled from an area of someone’s body, that place where the sun never shines. The economy most likely shrunk.

Which raises the prospect: Are we ready to acknowledge that the emperor has no clothes?

emperors-new-clothes

Paul Craig Roberts

With the advent of jobs offshoring, real median family incomes ceased to rise. The ability of consumers to substitute larger debt burdens for the missing growth in their real incomes was used up by Federal Reserve chairman Alan Greenspan’s policy of expanding consumer debt in order to fill in for the missing growth in consumer income. Today consumer debt levels are too high for consumers to incur more debt. The only element of consumer debt showing an increase is student loans.

The offshored jobs were not replaced with the promised “New Economy” jobs. No one has seen any sign of the mythical New Economy jobs. The “New Economy” is the transformation of the once powerful US economy into a third world labor force where new jobs exist only in domestic non-tradable services (services that cannot be exported) such as retail clerks, hospital orderlies, waitresses, and bartenders. As there are not enough of these jobs to go around, the labor force participation rate has dropped sharply.

The United States is an economic basket case. Washington has given away the US economy to Asian countries with lower labor costs. The owners and mangers of capital have benefited, but the vast bulk of Americans have suffered. As capital’s owners and managers are not sufficiently numerous to drive the economy with their expenditures, the fabled American economy is no more.

So, what happens when an economy is a “basket case?” Standards of living, however you want to measure them, fall. It’s happened before.

My ancestors created their own jobs, such as they were, during the depression years of the 1930s. They were rural folk who sharecropped. So they planted seeds, tilled and weeded the soil, harvested their dinner, turned over half the crop to their landlord, and sold what was left to have a little spending money.

They survived.

Today, that let’s do it mentality isn’t something I see anywhere except among the dwindling number of rural white Americans, who are already accustomed to a hardscrabble existence.

It’s like PCR says, “the fabled American economy is no more.” And without an economy that generates wealth shared by all, there is only more economic pain awaiting us.

CAN THEY SAVE US? NOT LIKELY.
Spider-Man-Captain-America-Iron-Man-Battle-of-New-York

Doom On: 900 McDonald’s Closing as Traffic Drops Precipitously

DON THOMPSON. THE RECENTLY FIRED MCD’S CEO DROVE THE COMPANY INTO THE TOILET IN JUST TWO YEARS.
155221-don-thompson-mcdonald-039-s-ceo

I’m loving it.

McDonald’s went black, a lot of us ain’t goin’ back.

I also see quite a few news stories about shootings, beatings, and murders at McDonald’s. The place is simply too dangerous, when you stop and take a look around at the clientele.

Another factor may be at work. As the poor and working class find themselves with less discretionary income, they may simply be eating cheaper, such as at local burger chains or fixing eats at home, which can save money.

death gif

Fox6

McDonald’s is in even worse shape than we realized. Profits are crumbling, sales are shrinking and guest traffic is declining all around the world. That’s leading McDonald’s to close at least 900 of its restaurants worldwide.

Consumers are defecting for healthier and fresher options like Chipotle, the burrito chain that McDonald’s sold off almost a decade ago.

The world’s largest burger chain announced more depressing results on Wednesday, April 22nd for the first three months of 2015.

The company vows a turnaround plan is coming. It will reveal the “initial details” on May 4th. In a preview of what might be coming, McDonald’s has announced that it’s closing at least 900 struggling restaurants, mostly in Japan, the U.S. and China.

Just how bad is it at McDonald’s? First-quarter profits tumbled by nearly $400 million, or roughly a third. That’s a steeper pace of profit declines than all of last year.

No wonder McDonald’s changed its CEO in late January.

The New World Order Agenda: Put the American Dream Out of Reach

am dream poll

You voted for the Obammunist, you dummy libturds. You got exactly what you wanted–the destruction of traditional America. Yet, you fools thought you wouldn’t be affected? Dream on. If you haven’t lost your jobs yet, libturds, may it happen tomorrow, followed by your house being foreclosed on!

And the youths who supported Obama in massive numbers? Screw you. Live in mommy’s basement for the rest of your miserable lives and then die already.

The American Dream is impossible to achieve in this country.

So say nearly 6 in 10 people who responded to CNNMoney’s American Dream Poll, conducted by ORC International. They feel the dream — however they define it — is out of reach.

Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it’s impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs.

Younger Americans are a cause of great concern. Many respondents said they are worried about the next generation’s ability to prosper.

Some 63% of all Americans said most children in the U.S. won’t be better off than their parents. This dour view comes despite most respondents, 54%, feeling they are better off than their own parents.

Read the rest of the story at CNN.