Federal Reserve

Establishment starting to recommend holding cash, which benefits bankers.

Evidence of widespread price-fixing in the gold market.

"Switzerland’s WEKO said its investigation, the result of a preliminary probe, was looking at whether UBS, Julius Baer, Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui conspired to set bid/ask spreads."

How? The government creates cartels then punishes members when they act like cartels.

1975 memo from Fed Chairman Burns to President Ford explains the motive for central banks depressing the value of gold.

"And the threat, according to Burns: "liquidity creation of such extraordinary magnitude would seriously endanger, perhaps even frustrate, out efforts and those of other prudent nations to get inflation under reasonable control." Aside from the gratuitous observation that even 34 years ago it was painfully obvious how "massive" liquidity could and would result in runaway inflation and the Fed actually cared about this potential danger, what highlights the hypocrisy of the Fed is that when it comes to drowning the world in excess pieces of paper, only the United States should have the right to do so."

The same is true today.

Wall Street suicides blamed on grueling pace, not guilt or corruption.

Janet Yellen's forecasts about the poor recovery have been more accurate than most, but she's terrible about forecasting anything else.