A one-time limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act has uncovered some eye-popping corruption at the Fed and the mainstream media is barely even covering it.  It turns out that the Federal Reserve made $16.1 trillion in secret loans to their bankster friends during the financial crisis.  You can read a copy of the GAO investigation for yourself right here.  These loans only went to the "too big to fail" banks and to foreign financial institutions.  Not a penny of these loans went to small banks or to ordinary Americans.  Not only did the banksters get trillions in nearly interest-free loans, but the Fed actually paid them over 600 million dollars to help run the emergency lending program.  The GAO investigation revealed some absolutely stunning conflicts of interest, and yet the mainstream media does not even seem interested.  Solid evidence of the looting of America has been put right in front of us, and yet hardly anyone wants to talk about it. (Read More.....)

If you really want to find out what someone is all about sometimes all you need to do is to shut up for a while and let them talk. The truth is that the mouth always eventually reveals what is in the heart.  Most politicians and world leaders are highly skilled at "filtering" what they say to the public, but even most of them will eventually break down and tell us exactly what they are thinking.  Posted below are 31 of the most ridiculous quotes from politicians, celebrities and world leaders so far in 2011.  Some of the quotes are very funny but others are very troubling.  The sad reality is that the more you listen to politicians and world leaders the more you realize that they really are quite clueless.  When I was growing up I assumed that those in positions of power actually did know more than the rest of us, but unfortunately the opposite seems to be true in many cases.  We really do have a bunch of idiots and morons in positions of power around the globe. (Read More.....)

Is the recession over or is the economic downturn just beginning?  Barack Obama and the Federal Reserve have been busy proclaiming that the U.S. economy is back on track, but the sad truth is that our economic problems look like they are about to get a whole lot worse.  Without oil, our entire economy would shut down cold.  Thanks to the chaos in the Middle East, oil is absolutely exploding in price.  In fact, the price of oil in the United States went up more than seven dollars today.  The global price of food has risen to record levels over the past 12 months and it is projected to continue to rapidly increase throughout all of 2011.  This is going to hit struggling families all over the globe very hard.  Meanwhile, thousands of manufacturing facilities and millions of good jobs continue to flee the United States.  The gap between the wealth that we consume as a nation and the wealth that we produce as a nation continues to grow.  We have attempted to fill this gap with asset sales and with massive amounts of debt, but that is a game that cannot last forever.  When we come to the end of every single month, we are poorer as a nation and we are deeper in debt as a nation.  From "sea to shining sea" we have become a nation that is flooded with red ink. (Read More.....)

Is the world approaching a devastating global economic meltdown?  Right now there are a large number of factors that are creating economic stress points all over the globe.  All of the crazy money printing that the Federal Reserve and other central banks have been doing is putting inflationary pressure on agricultural commodities, oil and precious metals.  Massive floods, horrific droughts and extreme weather patterns all over the globe are ruining crops and creating food shortages.  Some nations are now actually hoarding food, and in other nations rising prices have sparked food riots.  The price of oil has been moving back towards $100 a barrel, and if it stays at a high level for an extended period of time that is going to have very serious consequences for the global economy.  In addition, the growing sovereign debt crisis could erupt again at any time.  Half a dozen nations in Europe are on the verge of insolvency, Japan's national debt is now well over 200 percent of GDP, and the global financial system is growing increasingly concerned about the exploding national debt of the United States.  The truth is that the entire world financial system is a house of cards balanced on a razor's edge and it could come down at any time. (Read More.....)

Even though most of the potential contenders for the Republican presidential nomination in 2012 have not formally announced their intentions yet, the truth is that the race has already begun.  Just look at all of the Republican politicians that have scheduled visits to Iowa.  Potential candidates are gearing up their campaigns and it should be one of the most interesting primary seasons in ages.  But is there anyone in the field that is really that much different from George W. Bush and John McCain?  Is there anyone that is not just going to trot out the same tired old ideas?  Is there anyone that would actually do something substantial about government debt?  Is there anyone that actually wants to shut down the Federal Reserve?  Is there anyone that would actually work to restore our civil liberties?  Well, the truth is that most of the potential Republican candidates are virtual clones of George W. Bush and John McCain.  There are very few in the field that offer any hope whatsoever.  But there is one man that does stand out as being very different.  His name is Ron Paul. (Read More.....)

The more you read the news today the more likely you are to get really mad.  The world is becoming an incredibly crazy place, and at times the amount of bad news that is coming out can seem almost overwhelming.  Everywhere you look, the poor are being oppressed, our politicians are making stupid decisions and evil is on the march.  The America that so many of us grew up deeply loving is literally being ripped to shreds in a thousand different ways.  Unfortunately, those in power have not had any real answers for us in decades.  The Democrats don't have any real answers, the Republicans don't have any real answers and the Federal Reserve sure as heck does not have any real answers.  In fact, it seems like almost everything that our leaders actually do "accomplish" only makes things worse.  The vast majority of Americans are quite busy being entertained by "bread and circuses", but meanwhile our country is literally falling apart. (Read More.....)

Many people have been stumped as they have attempted to find a coherent theme in Barack Obama's economic policies.  But the truth is that what the Obama administration is trying to do is not that difficult to figure out.  Just like so many other previous administrations, the Obama administration is motivated by self-preservation.  All of Barack Obama's economic policies are designed to produce a short-term economic burst that will help him win the next election in 2012, and the Federal Reserve has been cooperating every step of the way.  Perhaps the Federal Reserve is motivated by self-preservation as well.  The American people are becoming extremely disenfranchised with the Federal Reserve, and so those inside the Fed likely realize that they better get the economy on track or face even more scrutiny.  In any event, Obama and the Fed are working together to do whatever they can to improve the short-term economic situation.  Unfortunately, everything that they are doing is making our long-term economic problems even worse.  But Barack Obama and the Federal Reserve are not really concerned with what is going to happen down the road.  What the Obama administration and the Federal Reserve are concerned about is protecting their rear ends in the here and now. (Read More.....)

Have you ever wondered how in the world you can explain complicated topics such as the Federal Reserve, fractional reserve banking and the creation of money in a way that your family and friends will actually understand? Well, the other day I was made aware of an amazing new 30 minute animated documentary entitled The American Dream. Considering the fact that this column is called "The American Dream", that definitely got my attention, and when I sat down and watched the documentary I was absolutely amazed. What Tad Lumpkin and Harold Uhl have done is that they have created a very funny, very entertaining 30 minute cartoon that does an excellent job of explaining how our financial system really works and why the Federal Reserve is bad for America. (Read More.....)

Why does it seem like major establishment news outlets come out with the exact same talking points so often?  This time, the mainstream media in both the United States and in the UK are placing blame for an economic collapse that hasn't even happened yet on the Tea Party movement and on opponents of the Federal Reserve.  Of course it is completely and totally ridiculous to even think for a moment that the Tea Party could be responsible for our current financial problems.  The Tea Party is still basically brand new, and even though they gained a a number of seats in Congress during this past election, they still have far, far less power than the establishment Democrats or the establishment Republicans.  The notion that the Tea Party could be responsible for plunging the entire globe into a devastating economic depression is absolutely hilarious.  But that is exactly what some major mainstream media outlets are actually suggesting. (Read More.....)

Today there is a great debate in the economic community about whether we are going to have crippling deflation or unprecedented inflation in the years ahead.  For decades, a never ending spiral of debt has fueled the almost unbelievable prosperity that Americans have enjoyed.  We have lived way beyond our means, and in the process we have piled up the biggest mountain of debt in the history of the world.  Now, the fourth branch of the U.S. government (the Federal Reserve) has a  decision to make.  Will the Federal Reserve allow the U.S. economy to deleverage, thus setting off a deflationary nightmare worse than the Great Depression, or will the Federal Reserve attempt to crank up the debt spiral one more time by flooding the U.S. economy with another giant wave of paper money? (Read More.....)