Jason Farrell

John Mauldin had a few choice words for the Fed, Janet Yellen and the proponents of central banking in a thirty minute interview with Steve Forbes released yesterday.

“Its almost statistically impossible to be as bad as central bankers are at predicting the future,” John Mauldin told Forbes. “Yet we’re supposed to trust them… it doesn’t end well.”

Mauldin said that if he were Yellen he would “begin to taper… allow rates to rise something near the more natural rate. When you artificially hold interest rates low… that is theft!” He also said he is still bullish on gold in the long term, and shed some light on his buying habits.

“I believe gold is… central bank insurance… I do have some, I buy some every month.” Mauldin said. He purchases gold for his grandchildren every month and stashes it in offshore “neutral facilities” for safekeeping. He believes gold will have more value in twenty years than “putting 100 dollars a month into a savings account,” citing sagging interest rates due to central bank activity.

Jason Farrell

For The Daily Reckoning

Ed. Note: Gold may be making some interesting moves soon, and Greg Guenthner is covering it in real time in the Rude Awakening. It’s jam-packed with some of the most in-depth analysis you’re likely to find, including 5 “Rude Numbers” to watch as this end-of-year rally progresses. Don’t wait. Sign up for FREE, right here.

You May Also Like:


The Wreck of the Monetary Hesperus

David Stockman

For 73 months running, the Fed has lashed the money markets to the gross financial anomaly of zero interest rates. Never before in the history of the world has any central bank dared to hand out so much free money for so long. David Stockman has the scathing report… and how it will splatter into a world of hurt…

Jason Farrell

Jason M. Farrell is a writer based in Washington D.C. and Baltimore, MD. Before joining Agora Financial in 2012 he was a research fellow at the Center for Competitive Politics, where his work was cited by the New York Post, Albany Times Union and the New York State Senate. He has been published at United Liberty, The Federalist, The Daily Caller and LewRockwell.com among many other blogs and news sites.

Recent Articles

Not Yours To Give

David Crockett

One day in the House of Representatives a bill was taken up appropriating money for the benefit of a widow of a distinguished naval officer. Several beautiful speeches had been made in its support. Then Col. David Crockett arose, and spoke on the both nobility of charity and why it has absolutely no place within the government. Read on...


How the American Dream Can Make You 14-Times Your Money

Chris Mayer

Most U.S. citizens subscribe to an idea called the American dream - working hard on a level playing field so you can "get ahead" in life. But that's not what the original "American dream" was all about. As Chris Mayer explains, that term originally referred to a completely different, yet equally important goal. Read on...


The Idea of America

Bill Bonner

America is a country like no other. Comprised of people from all corners of the globe, America exists solely because people chose to become Americans. But what does that mean? And how does it influence the concepts of liberty and freedom Americans feel so entitled to? Bill Bonner explains...


The Rights Trap: Constricted By a Sense of Entitlement

Harry Browne

People tend to believe they are endowed with a few specific "rights" - property, liberty, happiness, etc. Unfortunately, as Harry Browne explains, rights only exist in theory. In practice they don’t accomplish much - no matter how much people may discuss them. Read on...


Tricked on the Fourth of July

Gary North

British North America was likely the freest society ever seen on earth, as long as you were not a slave of African descent. The Fourth of July isn't worth celebrating unless one wants to cheer an unnecessary revolution that ushered in more tyranny and taxation than existed before that revolution's "success".


Demographic Dilemma

Genevieve Lefranc

Our economy, consumer society, and retirement programs are all in jeopardy in the face of a looming demographic dilemma. Read on to learn about the dire situation with pensions and social security, and what you can do to protect yourself...