Gold News

  1. Fed Repo Loans Grow up to $120 Billion Per Night

    Fed Repo Loans Grow up to $120 Billion Per Night

    The private and unconstitutional Federal Reserve's not QE4 repo loan program will expand tomorrow by up to an additional 60% per evening. 

    Today partially via Twitter, the New York Fed announced that it is increasing its temporary overnight repo operations up to $120 billion a day from its original up to $75 billion per night commitment.

    A now near $4 trillion fiat Federal Reserve note balance sheet is not shrinking unlike how the Bernanke and the Yellen proclaimed it would for years.

    The next broken promise of their ilk might just be Yellen's arrogant 'no financial crisis again in my lifetime' statement.

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  2. Bullion Direct Owner Faces 50 Year Prison Sentence

    Bullion Direct Owner Faces 50 Year Prison Sentence

    After filing for bankruptcy in July 2015, now over four years later, a jury concludes that a once successful Bullion Direct had been led by a man who committed fraud for many years on much of the company's customer base.

    Late last week, Charles McAllister (former CEO and owner of the once-popular Bullion Direct website), was convicted in a five day trial by a federal jury for both money laundering and defrauding customers out of millions of dollars.

    Estimates of customer losses on this Ponzi-like fraud are over $16 million in aggregate damages spread amongst thousands of former Bullion Direct customers.

    According to evidence presented, from January 2009 through July 2015, Charles McAllister perpetrated a scheme that falsely represented that many funds obtained from customers would be used to purchase physical

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