"US Debt Is 3 Times More Than You Think" Warns Former Chief US Accountant

"In a shocking admission for most of mainstream America, the former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the oft-cited figure of $18 trillion, thanks to unfunded liabilities which simply cannot be ignored. As The Hill reports, unless economic growth accelerates, he warns, "you’re not going to be able to provide the kind of social safety net that we need in this country," adding unequivocially thatAmericans have "lost touch with reality" when it comes to spending.

As The Hill reports,

Dave Walker, who headed the Government Accountability Office (GAO) under Presidents Bill Clinton and George W. Bush, said when you add up all of the nation’s unfunded liabilities, the national debt is more than three times the number generally advertised.

“If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms,” Walker told host John Catsimatidis on “The Cats Roundtable” on New York’s AM-970 in an interview airing Sunday.

The former comptroller general, who is in charge of ensuring federal spending is fiscally responsible, said a burgeoning national debt hampers the ability of government to carry out both domestic and foreign policy initiatives.

“If you don’t keep your economy strong, and that means to be able to generate more jobs and opportunities, you’re not going to be strong internationally with regard to foreign policy, you’re not going to be able to invest what you need to invest in national defense and homeland security, and ultimately you’re not going to be able to provide the kind of social safety net that we need in this country,” he said.

He said Americans have “lost touch with reality” when it comes to spending..."

at  http://www.zerohedge.com/news/2015-11-08/us-debt-3-times-more-you-think-former-chief-us-accountant-warns-americans-have-lost-

Russia is putting world peace at risk, says Pentagon chief Ash Carter

"The US defense secretary, Ash Carter, has accused Russia of endangering world order and said the Pentagon was searching for creative ways to deter Kremlin aggression and protect its allies.

Speaking in California after eight days of travel in Asia, Carter also expressed concern about China’s expanding influence and growing military might. But he reserved his strongest words for Russia.

Analysis Sinai plane crash may show price of Putin's military adventurism in Syria

By making an enemy of Isis, the Russian president has put his country’s citizens directly in the firing line

 

Read more

Carter told an audience at the Ronald Reagan Presidential Library in Simi Valley that Russia was undertaking “challenging activities” at sea, in the air, in space and in cyberspace.

“Most disturbing, Moscow’s nuclear sabre-rattling raises questions about Russian leaders’ commitment to strategic stability, their respect for norms against the use of nuclear weapons, and whether they respect the profound caution nuclear-age leaders showed with regard to the brandishing of nuclear weapons,” he said.

His remarks were perhaps the strongest he has expressed about America’s former Cold War foe.

“We do not seek a cold, let alone a hot, war with Russia,” he said. “We do not seek to make Russia an enemy. But make no mistake; the United States will defend our interests, our allies, the principled international order, and the positive future it affords us all.”

The backdrop to Carter’s remarks is the reality that after more than two decades of dominating great-power relations, the United States is seeing Russia reassert itself and China expand its military influence beyond its own shores.

Carter cited several pillars of the international order that he argued should be defended and strengthened: peaceful resolution of disputes, freedom from coercion, respect for state sovereignty and freedom of navigation.

“Of course, neither Russia nor China can overturn that order,” he said. “But both present different challenges for it.”

at http://www.theguardian.com/us-news/2015/nov/08/russia-is-putting-world-peace-at-risk-says-pentagon-chief-ash-carter

Internal paper: German Federal Government prepares for a refugee border storm

"The German security authorities arm yourself for the real thing. In an internal layer pattern are at the border closures Balkans a “storm of borders” and “panic and chaos” expected.

Given the increasing numbers of refugees, the German security authorities are preparing, that the Balkan countries close their borders. This is apparent from the confidential situation report “Illegal migration” of the “Joint Analysis and Strategy Centre illegal migration” (Gasim) present the “Welt am Sonntag”.

This is a “storm of borders” as mentioned scenario. An “impasse” on the Balkan route without European support could “cause panic and chaos among migrants and authorities”.

At Potsdamer Gasim, among other things the Federal Intelligence Service, Federal, Federal Office for the Protection of the Constitution, the Federal Police, the Federal Foreign Office and the Federal Office for Migration and Refugees (BAMF) are involved.

“Backwater” and “worsening humanitarian situation”

Security officials have warned that the refugees currently come through the Balkans to Central Europe faster.The “lead time” had “further shortened”. In the case of simultaneous border closures in Macedonia, Serbia, Croatia, Slovenia and Hungary, the “Greek system of revolving door” but would “halt”. The “organized handover” of migrants along the Balkan route would be interrupted, says the Situation Report."

at http://investmentwatchblog.com/internal-paper-german-federal-government-prepares-for-a-refugee-border-storm/

China to Allow Direct Conversion Between Yuan and Swiss Franc

"China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund.

The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making the franc the seventh major currency that can bypass a conversion into the U.S. dollar and be directly exchanged for yuan. The rate will be allowed to fluctuate a maximum 5 percent on either side of a daily fixing, according to CFETS.

“This is an important step in strengthening bilateral economic and trade connections between China and Switzerland,” the People’s Bank of China said in a statement on its website on Monday. The link will help lower conversion costs and facilitate the use of both currencies in bilateral trade, it added.

The announcement, which confirmed an earlier report, comes as the IMF prepares to meet this month to review its Special Drawing Rights. The executive board of the Washington-based institution will gauge whether the Chinese currency has fulfilled the criterion of being "freely usable," after rejecting its bid in 2010. The other major currencies that can be directly converted into yuan are the U.S., Australian and New Zealand dollars, the British pound, the Japanese yen and the euro.

The PBOC this year extended Switzerland a 50 billion yuan ($7.9 billion) quota under the Renminbi Qualified Foreign Institutional Investor program, which allows yuan raised offshore to be used to buy securities in China’s domestic markets. In 2014, the Swiss and Chinese central banks signed a three-year currency-swap agreement that can be used to borrow as much as 150 billion yuan."

at http://www.bloomberg.com/news/articles/2015-11-09/china-to-allow-direct-conversion-between-yuan-and-swiss-franc

We Are Now Witnessing Historic And Unprecedented Action In The War In The Gold Market

"We are now witnessing historic and unprecedented action in the war in the the gold market.

Jason Goepfert at SentimenTrader:  “Gold stocks got his hard again on Friday. The most commonly-cited reason was fear of a looming rate hike, but that’s not necessarily a good reason given recent history…"

at http://kingworldnews.com/we-are-now-witnessing-unprecedented-and-historic-action-in-the-war-in-the-gold-market/

Legendary Pierre Lassonde Says Super-Wealthy Now Buying Massive Positions In The Gold Sector

"...But there are some great companies out there that I am buying a bit more of.  The valuations are already silly and every time they dip down I buy more.  Some of the smartest money — private equity and the super-wealthy — that’s what they are also doing.  They are picking the companies that have solid assets and great management, and as the public dumps the shares at ridiculous valuations, they say, ‘Great, give us more shares.’

A very wealthy African family just bought a 10 percent stake in a company, with more to come because the valuations are so absurd.  So the super-wealthy are willing to put $20 million – $40 million into some of these high-quality companies (as they patiently anticipate a reemergence of the gold bull).  That’s what is happening right now but people are not seeing this on the tape because these massive positions are being accumulated very quietly.” King World News note:  Despite the mainstream media’s seemingly endless anti-gold propaganda, I wanted to thank my good friend, Pierre Lassonde, for letting KWN readers around the world know what is really happening behind the scenes in the gold sector.  The bottom line is that big money is beginning to aggressively enter the gold market and that is how major bottoms are made."

at http://kingworldnews.com/pierre-lassonde-the-super-wealthy-are-now-buying-massive-positions-in-the-gold-sector/

Dr Doom Calls Bubble, adding to Gloomy Calls

"The Federal Reserve has inflated an asset bubble and that`s going to damp market returns, perma-bear Marc Faber, publisher of The Gloom, Boom and Doom Report, told CNBC Tuesday. "Say you`re a young person and you`re just starting to work. So take me in the 1970s. In the US, with 20 hours of work, I could buy the SandP 500. Now you need more than 90 hours of work to buy the SandP 500 if you`re young, with a medium income," Faber told CNBC in an interview. "The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they`ve created a colossal asset bubble. And the returns going forward will be disappointing."

at http://www.marcfabernews.com/2015/11/dr-doom-calls-bubble-adding-to-gloomy.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MarcFaberBlog+%28MARC+FABER+BLOG%29#.Vju23bcze00

Greek Banks' Non-Performing Loans Hit 43%; Only €14 Billion Recapitalization Needed?

"Only €14 Billion Recapitalization Needed?
  
On November 1, I noted Greek Banks Need €14 Billion Recapitalization Following Latest Stress-Free Tests.

My comment was "Greek banks did much better than expected in the latest ECB stress test (undoubtedly stress-free). The ECB's adverse scenario shows Greek banks only underfunded to the tune of €14 billion."

Greek Banks' Non-Performing Loans Hit 43%

Reader Lars from Norway just emailed regarding recent interview in Germany with former Greek finance minister Yanis Varoufakis that strongly suggests that €14 billion recapitalization number is pure fantasy..."
at http://globaleconomicanalysis.blogspot.com/2015/11/greek-banks-non-performing-loans-hit-43.html#XOs2rOCF8qeEjPSV.99

Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead

"Why won’t the American people listen to the warnings?  David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985.  These days, he is running a website called “Contra Corner” which I highly recommend that you check out.  Stockman believes that a global “debt super-cycle” that has been building for decades is now bursting, and he is convinced that the consequences for the U.S. and for the rest of the planet will be absolutely catastrophic.  His findings are very consistent with what I have been writing about on The Economic Collapse Blog, and if Stockman is correct the times ahead of us are going to be exceedingly painful.

But right now, most people don’t seem to be in the mood to listen to these types of warnings.  Even though there is a mountain of evidence that the global economyhas already plunged into recession, U.S. stocks had a great month in October, and so most Americans seem to think that the crisis has passed.

Of course the truth is that the stock market is not an accurate barometer of the economy and it never has been.  Back in 2008, almost everything else started to go downhill before stocks did, and the same thing is happening once again.  In a recent article, Stockman explained that stocks are surging to absolutely ridiculous levels even though corporate earnings are actually way down…

At this point, 75% of S&P 500 companies have reported Q3 results, and earnings are coming in at $93.80 per share on an LTM basis. That happens to be 7.4% below the peak $106 per share reported last September, and means that the market today is valuing these shrinking profits at a spritely 22.49X PE ratio.

And, yes, there is a reason for two-digit precision. It seems that in the 4th quarter of 2007 LTM earnings came in at 22.19X the S&P 500 index price. We know what happened next!

Why do so many refuse to see the parallels?

This crisis is unfolding so similarly to 2008, and yet most of the “experts” are willingly blind..."

at http://theeconomiccollapseblog.com/archives/former-reagan-administration-official-warns-that-financial-disaster-is-dead-ahead

Chinese Warships Dock In Florida As Ash Carter Waves "Big Stick" Around In South Pacific

"Earlier this week, 10 members of the Association of Southeast Asian Nations and eight other countries, including China and the US held a summit to discuss defense and security in the South Pacific. Officially, this was the result:

Unofficially, Beijing and Washington reportedly couldn’t get past China’s Spratly sandcastles, which a US destroyer visited late last month in a show of force thinly disguised as a “freedom of navigation” exercise. Here’s WSJ: 

High-level defense talks crumbled over growing territorial disputes in the South China Sea, as the U.S. sought to show strength and assert its role as a counterweight to China.

“We couldn’t reach a consensus,” said Malaysian Defense Minister Hishammuddin Hussein at the conclusion of the Asean Defense Ministers Meeting Plus, which brings together 10 members of the Association of Southeast Asian Nations and eight other countries, including China and the U.S.

Mr. Hishammuddin denied that the rivalry between the U.S. and China was disrupting regional diplomacy, but behind the scenes other officials said the U.S. and China had been the main obstacles to any agreement.

“The Chinese lobbied to keep any reference to the South China Sea out of the final joint declaration,” said a senior U.S. defense official accompanying Defense Secretary Ash Carter at the meeting here.

A senior Philippine defense official said China had opposed any declaration that included mention of the South China Sea disputes, while the U.S. had opposed any declaration that omitted it..."

at  http://www.zerohedge.com/node/516063

The Unsuspecting Public Is Being Led Into Immense Financial Destruction

"Today a 50-year market veteran warned King World News that the unsuspecting public is being led into immense financial destruction.

November 4 (King World News) – John Embry:  “Well, as I remarked to you last week, Eric, about the huge buildup in the commercial – i.e. bullion bank — short interest on the Comex in gold.  I said that we were either going to see a commercial signal failure, where the shorts were overrun, which is a very rare event, or we were going to experience a prodigious selloff as the shorts would force the longs to dump their positions.  It didn’t take long to find out the outcome…"

at http://kingworldnews.com/the-unsuspecting-public-is-being-led-into-immense-financial-destruction/

18 Numbers That Scream That A Crippling Global Recession Has Arrived

"The stock market has been soaring, but all of the hard economic numbers are telling us that a major global recession is here.  This is so reminiscent of what happened back in 2008.  Back then, all of the fundamentals were screaming “recession” by the middle of that year, but the equity markets didn’t respond until later.  It appears that a similar pattern is playing out right now.  The trade numbers, the manufacturing numbers, the inventory numbers and even the GDP numbers are all saying that a very significant economic slowdown is happening, but stock traders haven’t gotten the memo yet.  In fact, stocks had an absolutely great month in October.  Of course just like in 2008, stocks will eventually catch up with reality.  It is just a matter of time.  The following are 18 numbers that scream that a crippling global recession has arrived…

#1 According to the biggest bank in the western world, British banking giant HSBC, the world is already in a “dollar recession“.  Global GDP expressed in U.S. dollars is down 3.4 percent so far in 2015, and total global trade has fallen8.4 percent.

#2 In September, Chinese exports were down 3.7 percent compared to one year ago, and Chinese imports were down a whopping 20.4 percent compared to a year ago.

#3 Demand for Chinese steel is down 8.9 percent compared to a year ago.

#4 China’s rail freight volume is down 10.1 percent compared to last year.

#5 In October, South Korean exports were down 15.8 percent from a year ago.

#6 According to the Dutch government index, a year ago global trade in primary commodities was sitting at a reading of 150 but now it has fallen all the way down to 114.  What this means is that less commodities are being traded around the world, and that is a very clear sign that global economic activity is really slowing down..."

at http://investmentwatchblog.com/18-numbers-that-scream-that-a-crippling-global-recession-has-arrived/

Chinese jets training with missiles fly by disputed South China Sea waters near Vietnam in new response to US warships

"China's military released photos of navy planes training with missiles in the South China Sea, a move experts say is aimed at protesting the patrol of a US warship in waters Beijing claims to have sovereignty over.

The photos, released by the navy's official website on Saturday, showed fighter jets training while armed with missiles. The jets belonged to the South Sea Fleet and the training was carried out from an airstrip in the South China Sea, it said.

The navy did not name the airstrip, but military experts said it was on Woody Island in the Paracels. They also said the exercise was Beijing's latest response to the US guided-missile destroyer USS Lassen sailing within 12 nautical miles of Subi Reef last Tuesday. Subi Reef - located 600km from Woody Island - is one of seven reefs and rocks in the Spratlys chain on which China has built artificial islands..."

at http://www.scmp.com/news/china/diplomacy-defence/article/1874799/armed-chinese-fighter-jets-train-over-disputed-waters

Burn it, destroy it: Pressure builds on Blair over Chilcot report as it's revealed ministers were told to destroy key evidence on eve of conflict which showed Iraq War was ILLEGAL

"Tony Blair was rocked last night by a new crisis over Iraq after it was revealed that Ministers were told to ‘burn’ a secret document which said the war was illegal.

The Mail on Sunday has learned how Downing Street descended into panic on the eve of the war when Attorney General Lord Goldsmith told Mr Blair the conflict could be challenged under international law.

The Prime Minister was horrified, and Ministers and officials who had a copy of Goldsmith’s written opinion were told: ‘Burn it. Destroy it.’

Ten days later, with the invasion just days away, Goldsmith did a U-turn and said an attack could be justified. Among those who were told to ‘burn’ their copy was Defence Secretary Geoff Hoon, who flatly ignored the order..."

at http://www.dailymail.co.uk/news/article-3298498/Burn-destroy-Pressure-builds-Blair-Chilcot-report-s-revealed-ministers-told-destroy-key-evidence-eve-conflict-showed-Iraq-War-ILLEGAL.html#ixzz3qMhP9muZ
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Shanghai Gold Exchange Withdrawals

"Shanghai Gold Exchange withdrawals were 56.98 tonnes of gold during the week ended October 23, 2015.

Total gold withdrawals on the Shanghai Gold Exchange year to date are 2,119 tonnes.

Through week 43, withdrawals on the Shanghai Gold Exchange were running 28.1% higher than last year.

Hong Kong gold kilobar withdrawals pass 658 tonnes in 2015.

Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) delivered 56.98 tonnes of gold during the week ended October 23, 2015. During prior trading week ended October 16, 2015, the SGE withdrawals were 53.414 tonnes of gold.

Year to Date Weekly Shanghai Gold Exchange Withdrawals Through October 23, 2015

COMEX Hong Kong Gold Kilobar Withdrawals Through October 28, 2015

The Chicago Mercantile Exchange futures contract for Hong Kong Kilobars has experienced withdrawls of an average of more than five tons of gold a day since it began in mid March earlier this year. As of October 28, 2015, over 658 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate over1,200 tonnes of gold a year.

China Updates its Gold Holdings

In July 2015, China announced their first update to their official gold holdings since 2009. The People’s Bank of China announced that their gold holdings had climbed from 1054 tons to 1658 tons, making China the fifth largest gold holding nation in the world..."

at http://investmentwatchblog.com/shanghai-gold-exchange-withdrawals-were-56-98-tonnes-of-gold-during-the-week-ended-october-23-2015/

German Investigation Blows Wide Open Huge Scale of NSA European Spy-Ops Read more: http://sputniknews.com/europe/20151030/1029335346/german-investigation-into-nsa-european-surveillance.html#ixzz3qLjMuXsO

"A special investigation into the extent of mass surveillance carried out by the US National Security Agency (NSA) within Germany has unveiled a huge list of targets wanted by the US agency, including many European governments and companies.

German Chancellor Angela Merkel is under enormous pressure to reveal how much she knew about the country's co-operation with the US National Security Agency in spying on industrial and diplomatic targets.

In an effort to distance herself from the spying scandal after it was alleged she knew about her own government's co-operation with the NSA, despite publicly criticizing it, she called for an independent inquiry under leading judge Kurt Graulich who was called on to scrutinize a list of targets handed to the German Federal Intelligence Service (BND) by the US.

The first report from Graulich raises serious allegations against the United States, suggesting that the intelligence-sharing agreements between the NSA and BND have been broken and that the extent of the NSA program was much broader than the German Government would allow. Many of the targets, he found, were against the interests of Germany and its European partners.

According to Der Spiegel newspaper, Graulich investigated 39,000 keywords used by the NSA in a period from 2005 to March 2015. These included search terms — known as selectors — with which the NSA crawled international communication..."

at http://sputniknews.com/europe/20151030/1029335346/german-investigation-into-nsa-european-surveillance.html#ixzz3qLjRP6AV

Tsipras 'ashamed' of Europe's handling of refugee crisis

"Greece's Prime Minister Alexis Tsipras has expressed regret over the way the issue of refugee crisis has been handled in Europe.

Tsipras told the Greek parliament on Friday that he was ashamed to be the prime minister of a European Union member state, which has been shirking its responsibility for properly dealing with the crisis.

“I feel shamed as a member of this European leadership, both for the inability of Europe in dealing with this human drama, and for the level of debate at a senior level, where one is passing the buck to the other,” Tsipras said.

He added that the 28-member bloc has been hypocritical in its approaches toward the refugee issue.

“These are hypocritical, crocodile tears which are being shed for the dead children on the shores of the Aegean. Dead children always incite sorrow, but what about the children that are alive who come in thousands and are stacked on the streets? Nobody likes them,” the Greek prime minister stated..."

at  http://presstv.ir/Detail/2015/10/30/435600/Greece-EU-Tsipras-refugee-crisis

Ban Ki-Moon Condemns The American Stand On Syria, Endorses Putin's

"Authored by Eric Zuesse,

In an interview with Spanish newspapers that was published October 31st, U.N. Secretary General Ban Ki-Moon condemned U.S. President Barack Obama’s demand that Syrian President Bashar al-Assad be removed from office, and Moon said: “The future of Assad must be determined by the Syrian people.”

Here is the entire quotation:

"The future of President Assad must be decided by the Syrian people. Now, I do not want to interfere in the process of Vienna, but I think it is totally unfair and unreasonable that the fate of a person [diplomatese here for: U.S. President Barack Obama’s demand that Assad be removed from the Presidency of Syria] to paralyze all this political negotiation. This is not acceptable. It's not fair. The Syrian government insists that Assad should be part of the transition. Many Western countries oppose the Syrian government’s position. Meanwhile, we lost years. 250,000 people have been killed. There are 13 million refugees or internally displaced. Over 50% of hospitals, schools and infrastructure has been destroyed in Syria. You must not lose more time. This crisis goes beyond Syria, beyond the region. It affects Europe. It is a global crisis.”

The U.N. Secretary General is here implicitly blaming all of this - lots of blood and misery - on U.S. President Obama, and on the “many Western countries” who ally with him and have joined with him in demanding regime-change in Syria.

The position of Russia’s President Vladimir Putin has been, and is, to the exact contrary of Obama’s: namely, that only an election by the Syrian people can determine whom Syria’s President should be. The U.N. Secretary General is here agreeing with Putin, and rejecting Obama’s demand, that the matter be determined instead by non-Syrians, and by non-democratic means (which is basically like George W. Bush did in Iraq, and like Barack Obama did in Libya)..."

at http://www.zerohedge.com/news/2015-11-01/ban-ki-moon-condemns-american-stand-syria-endorses-putins

China has unveiled its first domestically built passenger jet, a major milestone for the Communist nation as it pursues a decades-old dream of having its own civilian aviation sector to compete with Airbus and Boeing.

"The 39-meter-long (128 feet), narrow body aircraft was towed out of a cavernous production hall on Monday and shown off to representatives of government and industry in a characteristic show of pomp.

“The rollout of the first C919 aircraft marks a significant milestone in the development of China’s first indigenous aircraft,” Jin Zhuanglong, chairman of China’s Commercial Aircraft Corp. (COMAC), which built the plane, told gathered officials.

Workers spent a year assembling the jet and its unveiling marked the culmination of a seven-year effort to reduce China’s dependence on foreign aviation giants, specifically Airbus from Europe and Boeing from the United States.

At the ceremony, China’s civil aviation chief, Li Jiaxiang, said “a great nation must have its own large commercial aircraft.”

http://www.dw.com/en/china-rolls-out-first-homemade-plane/a-18820899..."

at http://investmentwatchblog.com/china-has-unveiled-its-first-domestically-built-passenger-jet-a-major-milestone-for-the-communist-nation-as-it-pursues-a-decades-old-dream-of-having-its-own-civilian-aviation-sector-to-compete-with-a/

With ZIPR, NIRP and infinite QE, gold and silver should be much higher. Infinite manipulation by the Fed takes full credit for low gold and silver prices

"The last honest Fed chairman explains:

Paul Volcker: Gold Was the Enemy

“Gold was the enemy to me because that was a speculative vehicle while I was trying to hold the system together. [The speculators] were on the other side.”

Then and now, the gold price is viewed as the inverse price of the confidence in the system. If gold is high, it usually means something is amiss. In Volcker’s time, the high inflation and budget deficits of the 70s propelled gold from a low of $35 before 1970 to a high of $668 in 1980.

http://www.theepochtimes.com/n3/1299447-paul-volcker-gold-was-the-enemy/

The Fed must keep the dollar strong even as the economy weakens and US gets deeper into the war in Syria. So the mythical rate hike must always be kept imminent..."

at http://investmentwatchblog.com/with-zipr-nirp-and-infinite-qe-gold-and-silver-should-be-much-higher-infinite-manipulation-by-the-fed-takes-full-credit-for-low-gold-and-silver-prices/