Blood from a Stone
The RTD recently ran a series of articles about the status of the state employee pension system in Virginia. I thought the attempts at reassurance were very humorous, right along with the justification for the high salaries. Public employees: Your futures are being stolen by this crisis, just like everyone else’s. There is no future [...]
Jesse Ventura Interviews Ron Paul
Ventura’s question to Ron Paul: “What was the Fed’s role in this current financial collapse …?” R. Paul’s answer: Ventura TruTv Ron Paul
Fed Steps Up To “Do Our Part”
From the Federal Reserve’s web site: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to [...]
What Do We Call It When An Unelected, Unaccountable, And UnAuditable NGO Engages In “Fiscal Policy”?
“FEDERAL RESERVE BANK OF THE UNITED STATES” (Reuters) – The Federal Reserve’s latest easing program is fiscal, not monetary policy, and does not have much credibility, Philadelphia Federal Reserve Bank President Charles Plosser said on Wednesday. Treasury debt issuance could undo much of the effect of the Fed’s attempt to lower borrowing costs, known as [...]
Dangerous Waters Ahead
Everyone has an agenda, me included. Look for them. They’re embedded in everything you see, hear, and read. You…YOU…have to be informed and stay informed. Take nothing at face value. You…YOU…have to be ready. Remember this guy? http://www.youtube.com/watch?v=VjMTNPXYu-Y&feature=related It’s not just Rahm who thinks that. All of the power players think the same thing: “How [...]
Now It’s Getting Interesting
Irresistible force, let me introduce you to immovable object? Economy in Congress’s Hands As Fed Runs Out of Bullets Ben Bernanke took a lot of flack from politicians ahead of the central bank’s statement on Wednesday. But now after the Federal Reserve chairman downgraded the economic outlook and initiated a Treasury-buying program in an attempt [...]
Called It
You thought my last piece on “Bond Vigilantes” was a joke, didn’t you? NOPE. On Zerohedge today: The Bond Vigilantes Are Here: US Net Notional CDS Outstanding Surpasses Greece For The First Time As the first chart below shows [follow the link to see the charts and the article], of the Top 25 CDS outstanding [...]
This Is Why More Debt Won’t Work
The chart below is “Total Credit Market Debt Owed,” direct from the Federal Reserve’s graphical web interface “Fred Graph.” Anyone can see that the graph had gone parabolic right before the onset of the Great Recession. Anyone can see that this rate of ever-faster accumulation of debt couldn’t continue. And, it didn’t continue, it stopped. [...]
Debt Limit Debate: What’s Really Going On?
Watching TV while eating lunch today inspired this rant. Relevant ideas for your consideration: The budget “cuts” are compounded over ten years, but the debt ceiling raise is just until it gets used up again. So when they talk about “$2 Trillion in cuts and $2 Trillion in debt ceiling increase” what they mean is [...]
Asset-Stripping: A Term To Remember
The principle purpose of banking is asset-stripping. What is asset-stripping? The best way to understand it is this: financial terrorism. It’s really very simple, very insidious, very effective, and it wears a suit. First, it’s important to understand the main operational aspect of banking: counterfeiting. Ooops, did I say counterfeiting? I mean “Fractional Reserve Banking.” [...]
