In an exclusive interview with Kitco News, Congressman Ron Paul (R-Texas) revealed that next year at the start of the newly inaugurated 112th United States Congress, he would introduce a new bill to audit the U.S. gold reserves, which are reportedly stored at the New York Federal Reserve and Fort Knox.

BernankeWhen Fed Chairman Ben Bernanke speaks on Friday at the Fed’s annual meeting in Jackson Hole, Wyoming, Fed-watchers from around the world will be hanging on his every word, phrase, and nuance for clues. They’ll be listening to hear that the chairman knows what’s happening in the economy, and that if things get worse, he has a plan.

money with flagThink you’re scared enough about the economy, the ballooning deficit, and the prospect of ruinous tax rates and runaway inflation to pay for astronomical government debts? If you haven’t read Boston University economist Laurence Kotlikoff’s August 10 article for Bloomberg (“U.S. Is Bankrupt and We Don’t Even Know It”), you probably aren’t.

eggsGovernment is the only institution whose power and budget grow when it fails. A crisis, real or perceived, is considered an “opportunity” for government to expand, as President Obama’s Chief of Staff, Rahm Emanuel, reminded Americans shortly after Obama won the 2008 presidential election.

Housing sales dropped by more than 25 percent nationwide in July, according to the National Association of Realtors, after a federal tax credit for first time home buyers expired in June.