10 Things That Every American Should Know About The Federal Reserve
What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently,
but unfortunately most Americans don't really think about the Fed much.
Most Americans are content with believing that the Federal Reserve is
just another stuffy government agency that sets our interest rates and
that is watching out for the best interests of the American people. But
that is not the case at all. The truth is that the Federal Reserve is a
private banking cartel that has been designed to systematically destroy
the value of our currency, drain the wealth of the American public and
enslave the federal government to perpetually expanding debt. During
this election year, the economy is the number one issue that voters are
concerned about. But instead of endlessly blaming both political
parties, the truth is that most of the blame should be placed at the
feet of the Federal Reserve. The Federal Reserve has more power over
the performance of the U.S. economy than anyone else does. The Federal
Reserve controls the money supply, the Federal Reserve sets the interest
rates and the Federal Reserve hands out bailouts to the big banks that
absolutely dwarf anything that Congress ever did. If the American
people are ever going to learn what is really going on with our economy,
then it is absolutely imperative that they get educated about the
Federal Reserve.
Buying Gold on the Price Inflation Guarantee
By The Mogambo Guru
I don’t know why, exactly, but perhaps they fear me because I am a cynical, paranoid, gold-bug old man who thinks that the Federal Reserve has turned into an evil institution by creating So Freaking Much Money (SFMM), now so that it can commit the sin of monetizing new government debt by the truckload, increasing the money supply and guaranteeing a roaring inflation that hurts the poor, and hurts the almost-poor, and hurts the not-quite-poor, and (now that I think about it) it hurts everybody, which hurts me personally because they come whining to me to give them some of MY money!
The Next American Oil Boom?
By Addison Wiggin
Seriously.
There are not very many people outside the “Peak Oil” crowd who care — heck, even know — what “decline rates” are.
Yet the “story that isn’t being told” is often where you find the best investment narratives.
“At first,” our resident energy enthusiast kicks us off with just such a tale, “the conservative approach was to estimate that the Marcellus wells would be productive for about two-three years and then the decline curve would kick in.
“Now, after three years of testing in some areas, that window is more like five years.”
After five years? Many operators will go back and refrack the wells. Those five-year wells might become 10-year wells.
Why US Job Creation Heats Up in Cold Weather
By Bill Bonner
“No, we don’t want to go through your new x-ray machine,” we told the TSA guard.
“Whassa matter? It’s safe…” she replied.
“How do you know that?”
“The government said it was safe.”
“Do you believe everything the government tells you?”
“Heh…heh… Okay…” then, turning to no one in particular… “REFUSAL on 11. Male.”
We were out quickly…but the poor old woman behind us had to get up out of her wheelchair…hobble through the x-ray machine…and then they still wanted to feel her up on the other side.
You can’t be too safe, right?
Economic Growth in the New Millennium
By Joel Bowman
“Greek Bailout at Risk as Party Pushes Back,” reports Bloomberg.
“Greece Plunged Into Political Turmoil Over Austerity Measures,” chimes The New York Times.
“Greek government hit by resignations,” adds the FT.
We spilled a good deal of virtual ink in yesterday’s issue casting doubt and aspersions over the validity of the Greek bailout plan. The story, we reckoned, was at best an old one…at worst an irrelevant one. Bailout or no bailout, the Greeks are broke. The rest is merely noise.
Curiously (and to their credit), markets yesterday would not be roused to action, neither by rumour, hearsay or scuttlebutt regarding the imminent, 11th hour deals “struck” between Greek Prime Minister Lucas Papademos and European Central Bank President Mario Draghi.
Instead, they held tight, patiently.
US: Charles Manson energy – by Paul Driessen
“…
gleaming white wind turbines generating carbon-free electricity carpet
chaparral-covered ridges and march down into valleys of Joshua trees.”
This is “the future” of American energy – not “the oil rigs planted
helter-skelter in [nearby] citrus groves,” nor the “smoggy San Joaquin
Valley” a few miles away.US: Our Constitution Is The Best Model A Country Could Have – Investors.com
Our
Constitution is no longer respected as it once was. Nations writing new
constitutions don’t see it as the prototype to be followed. All have
something in common with our president.US: Plutocrat Dems attack Romney as ‘Richie Rich’ – by Ann Coulter
Having
given up on pillorying Mitt Romney for plundering his way to vast
wealth — because, unfortunately, it isn’t true — the NFM (Non-Fox Media)
seem to have settled on denouncing him as a rich jerk.Postwar Rent Controls Mises Daily: by Robert L. Scheuttinger and Eamonn F. Butler
The Fed's Quasi-Fiscal Policies Mises Daily: by David Howden
Time Is Money: Capital and Interest Mises Daily: by Eugen-Maria Schulak and Herbert Unterköfler
Will Currency Devaluation Fix the Eurozone? Mises Daily: by Frank Shostak
Roubini said in Davos, Switzerland, on January 25, 2012, that tight
policies are making the recession in the eurozone worse. According to
Roubini what Europe needs is less austerity and more growth. In
particular, the NYU professor is concerned about the deep recession in
the eurozone's peripheral countries: Spain, Portugal, Greece — all are
on a strict regime of austerity. For instance, in Spain the yearly rate
of growth of government outlays stood at minus 12.4 percent in November
against minus 15.7 percent in the month before. In Portugal the yearly
rate of growth stood at minus 3.6 percent in December against minus 2.5
percent in November. In Greece the yearly rate of growth fell to 2.9
percent in December from 6.2 percent in the prior month.
A visible tightening is also observed in the two major European
economies of Germany and France. Year-on-year government outlays in
Germany stood at minus 1.6 percent in November versus minus 1.7 percent
in October. In France the yearly rate of growth stood at minus 12.4
percent in November against minus 12.3 percent in the prior month.
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