Several Lebanese financial institutions with alleged ties to the Hizbullah terror organization were part of a massive scheme that funneled hundreds of millions of dollars in criminal proceeds through the United States, prosecutors charged on Thursday. AFP reported that a criminal complaint in a New York federal court targeted the Lebanese Canadian Bank and two […]
The Small Business Lending Fund was cleverly named by its authors last Congress. Since its implementation, however, it would appear a more appropriate name would be the Bailed Out Bank Refinancing Fund. When Barney Frank and other supporters proposed the SBLF, it was believed banks would leverage the fund leading to hundreds of billions in […]
What is America? What is this country fundamentally about? By and large, pundits and politicians on the right and the left don’t seem to get it. Some come close, but there is a widespread failure to explain why the Founders established this republic. On this date in history, two of the clearest expressions of the […]
Winter has turned to spring and spring has turned to summer, but Congress and the White House are still debating how to handle the limit on our national debt. In the 1830’s, however, President Andrew Jackson set about an even more daunting task: paying the debt off entirely. America accomplished that feat in 1835, and […]
The US is indebted mainly to …well.. Americans. Still, foreigners hold about 47 percent of the national debt, with China and Japan owning the biggest chunks, but not the majority. The U.S. owes somebody a whole pile of money. You knew that, right? Years of deficit spending have run up the national debt to a […]
The White House has said that unless Congress gives it the green light to lift its $14.3 trillion debt ceiling by Aug. 2, it will default. That would mean lawmakers have about a month to decide whether or not to approve raising the borrowing limit, right? Wrong. In reality, they have about nine days when […]
The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt. (Bloomberg) — Lee Sachs, chief executive officer for AlliancePartners and former assistant U.S. Treasury […]
(Salt Lake City) Gold and Silver are now legal tender in Utah due to the rapidly fading dollar. Utah house voted today 47-26 to approve gold and silver as legal tender. The Utah bill would recognize Federal Gold and Silver coins as legal tender. The Utah bill would also set up a committee to study changes […]
Gold prices surged last week to a new all time high of $1,463.70 per ounce, while silver prices soared to a new 31-year high of $39.785 per ounce. Silver is now up 129% since NIA declared silver the best investment for the next decade on December 11th, 2009, at $17.40 per ounce. The gold/silver ratio […]
As Heritage expert J.D. Foster, Ph.D. noted in his January 2011 paper “Congress Has Time and Options on Debt Limit“, Congress had time to discuss how it wants to proceed on the debt limit. Secretary of the Treasury Timothy Geithner’s letter of April 4, 2011 estimates that the Federal Government will not reach the statutory debt […]
