I have long maintained that the central bank is an instrument of private mega-banking policy, and that that policy is quite simple: attach to an economy and suck the life out of it like a vampire. This makes the central bank similar to Renfield in Bram Stoker's gothic novel Dracula. Any central bank must be [...]
Interview with Thomas Sowell. About 30 minutes; please follow this link, scroll down and watch:
An interesting piece at Zerohedge this morning discussing the Giffords shooting. I suggest you read the whole thing linked here. It takes a somewhat dim view of the state of politics, public political discourse, and the use of the MSM as a mechanism of control: Legitimate Concerns, Not “Rhetoric”: The primary talking point of the [...]
A few days ago we posted this piece on trade negotiations between India and Iran. India imports 80% of its oil, and buys about 16% of its imported oil from Iran. This is a very important matter for India. The United States is pressuring India to participate in economic sanctions against Iran and that has [...]
India May Settle Iran Oil Imports in Dirham, Yen, Asharq Says < Jan. 1 (Bloomberg) -- India may pay for its oil imports from Iran in yen or the United Arab Emirates’ dirham to avoid straining its relations with the U.S. and the European Union, Asharq al-Awsat said today, citing an Indian official. Iran, India [...]
"We have to do it" came the cry. "It's the end of the world." http://www.youtube.com/watch?v=pD8viQ_DhS4 Guess what? We let them get away with it, and now they're doing it again. It's the ultimate trump card, trumping reason, trumping fact, and trumping consensus. They're going to play this trump card until we make them stop. This [...]
Obama, Bernanke, and Bill Dudley Shredded by Cute Bears http://www.youtube.com/watch?v=UGlX1BDgLBY&feature=player_embedded
The PhD-waving geniuses at the Fed have glanced up from their mathematical models and analytical brilliance and (re)discovered an age-old economic phenomenon: Reversion to the mean. Prices for assets tend to return to "normal" patterns after bubbles and busts. Housing prices in "real" (inflation adjusted) dollars since 1890: in 2004, Greenspan said The Fed couldn't [...]
Here are a few thumbnails; share them with your friends. It makes no sense at all to be paid a few dollars for a day's work when hundreds of billions of those very same dollars are effortlessly clicked into existence at the whim of one man. If I can pay you with money I created [...]
In our previous post we began a report on how the Fed is using its balance sheet to protect TBTF banks and their investors. Now let's dig a little deeper into data recently pried out of the Fed by CONgress, under pressure from...us. Here's another must-read piece, at EconomicPolicyJournal.com, which tracks the bailout of Goldman [...]
What a difference a little disclosure makes. For the remainder of this article, remember this timeline: Bear Stearns crisis, March, 2008. Lehman Brothers bankruptcy, September 15, 2008. TARP, October 3, 2008. AIG Financial Products taken over by Fed and given $85 Billion loan: September 16, 2008. Wikileaks brings us this information via U.K. Guardian from [...]
From the U.K. Telegraph, this wonderful example of how to solve a debt crisis: let the banks fail. As you read this, please understand the "recovery" model that is being put forward, and supported by politicians of all stripes, for the U.S. That model is this: endless free money and bonuses for the banks, and [...]
