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Former Fed Chairman Greenspan Makes Startling Admission


???The Federal Reserve is not independent!??? — Alan Greenspan

During the weekend, I spoke at the 40th anniversary of the New Orleans Investment Conference and had a great time meeting up with subscribers and signing dozens of copies of ???The Maxims of Wall Street??? as gift books. I even took several subscribers out to dinner at Commander???s Palace.

The New Orleans Investment Conference is largely a gold bug convention, with representatives from dozens of small mining companies exhibiting. It has been a tough couple of years. Precious metals topped out in late 2011, when subscribers to my investment newsletter, Forecasts & Strategies, took profits on our gold and silver exchange-traded funds (ETFs). After that, the mining business has been a disaster.

The fear of rising rates was on the minds of the attendees and speakers. Rising rates mean a strong dollar and more weakness in commodity prices.

I had lunch with former Fed Chairman Alan Greenspan during the New Orleans Investment Conference.

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Read more of former Fed Chairman Alan Greenspan’s startling comments at Eagle Daily Investor.