The Fed's Stealth Tightening
Bud ConradThe Fed is quietly using a new tool to drain liquidity from the economy… and to build itself a huge stash of cash
Bud Conrad
Current Columns and Articles
Now Is the Time to Buy Gold
Bud ConradBud Conrad makes a compelling case for why now is the time to buy gold.
Evidence on Why Gold Is Falling on the Verge of a Dollar Implosion
Bud ConradWhy is the gold price dropping even though the dollar is losing value?
Despite Declining Deficit, Foreigners Aren’t Bailing Us Out, So the Fed Will Keep QE Going
Bud ConradThe basic imbalance driving our economy is the government deficit, which spun out of control as a result of the Credit Crisis of 2008/9. But the sequester, improving tax base, lower interest rate, and elimination of stimulus spending have caused the
Physical Gold vs. Paper Gold: The Ultimate Disconnect
Bud ConradAn analysis of the precious-metals paper market provides insights into gold's recent free fall.
The Coming Crash in the Bond Market
Bud ConradWhy you should avoid Treasuries like the plague.
The Fed Resumes Printing
Bud ConradThe Federal Reserve recently announced important policy changes after its Federal Open Market Committee (FOMC) meeting.
Is Gold Still the Answer for Investors?
Bud ConradThough late to the party as usual, the proverbial man on the street – along with members of mainstream media and Wall Street heavyweights – is finally waking up to the decade-long, 700% increase in the price of gold, joining a growing buzz around the
Foreigners Losing Confidence in Holding US Treasury and Agency Debt
Bud ConradForeign central banks buy US Treasury and Agency debt through accounts at the Federal Reserve, where it is held in custody.
The Coming Currency Crisis
Bud ConradPoor Ben Bernanke. The greatest financial train wreck in history is going to happen on his watch, and it will be mostly his predecessor’s doing.
Has the Fed Started QE3?
Bud ConradThe Fed surprised the market by extending its policy of 0 to 0.25% Fed funds rate to mid-2013. The way the Fed manages to drive rates lower is to buy Treasuries with newly created money – driving the price up and the rates down.
The “Recovery” in Consumer Loans Isn’t Real
Bud ConradThe amount of loans being provided by our banking system is a good reflector of the strength of our economy.
Bernanke Is Making the Crisis Worse
Bud ConradThe Fed is a corrupt and powerful institution, and Chairman Bernanke is making the global crisis worse. His new speech given last week in Europe was terribly misguided and will upset markets as the Chinese and Germans won't ignore his challenges.
Battle for the Budget
Bud ConradRecently the Congressional Budget Office (CBO) published its scoring of President Obama's budget for the next 10 years. It shows a budget deficit of $9.8 trillion. That is just shy of $4 trillion worse than the CBO’s baseline budget, a budget that in
The Taylor Rule: A Tool for Predicting Fed Policy
Bud ConradOn March 3, I heard John Taylor over lunch at the San Francisco Federal Reserve. In his talk he reviewed the government’s bailouts and their effects on our economy. If you aren’t familiar with Taylor, he co-authored, along with Bob Hall, the macroeco
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