Economics and Investing:

Citibank Buys $1Billion in Gold From Venezuela. Maduro’s cash-strapped regime is so desperate for revenue that they’ve agreed to pawn 1.4 million ounces of gold, which amounts to $714 per ounce. – H.L.

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The Fed has been horribly wrong about nearly everything they have forecast and most of the policy actions they have taken as both a central bank and a regulator for the past twenty years.

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Items from Mr. Econocobas:

U.S. GDP Gained A Sluggish 0.2% In First Quarter 2015

US Homeownership Rate Drops To 1983 Levels: Here’s Why

America’s Student Debt Pain Threatening a Corner of Bond Market

Guess Who Predicted The Failure Of QE

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