Barbie Relic’s latest:
Updated Tuesday, March 9, 2010
Diverting the blame for “inflation” by Steve Saville
“Prices within any economy are continually fluctuating and large localised price rises will sometimes occur in response to unanticipated shortages of, or increases in demand for, some goods and services, but in the absence of a higher money supply a price rise in one part of the economy will have to be offset by a price decline elsewhere.”
Gold Money: Power to the People by Gary North
“The politicians and their many hired spokesmen – economics professors, newspaper columnists, think-tank intellectuals – dismiss the gold standard because they understand that this system placed a veto power in the hands of individual holders of IOU's from banks. This restrained the banks. This also limited the ability of governments to borrow money in order to defer tax increases.”
Anti-Gold Conservatives by Gary North
“Hostility to central banking on principle has not been a hallmark of mainstream conservatism since 1945. Friedman has been the most prominent economist, and on money, he followed the pied piper of fiat money, Irving Fisher.”
Deathbed of Keynesian Economics Will Be in U.K. by Matthew Lynn
“Britain has the worst of all possible worlds: a stagnant economy, a crippling budget deficit and rising prices. The Keynesian consensus is that things would have been far worse without the stimulus provided by government. And if the economy isn’t pumped up with inflated demand, it will collapse back into recession. If it’s not working, that just proves the stimulus should be even larger. It is the argument quacks always push: If the medicine isn’t working, increase the dosage.”
A Regional Fed President Torpedoes Bernanke by Gary North
“[President of the Philadelphia Fed] Charles Plosser gave a speech hostile to Federal Reserve policy. . . He delivered a speech to the World Affairs Council of Philadelphia on February 17. The WAC has chapters in major cities. It is an important outlet for people in high positions inside the Establishment. His speech is here.”
Government Stimulus, One Year Later by Ron Paul
“Rather than learning the lessons of the past year, the administration is moving full-speed ahead to do even more economic damage. With the stimulus bill set as a precedent and victory declared, another ‘jobs’ bill is in the works. ”
The "Too Big To Fail" Lie (As Applied to US Banks) by Steve Saville
“With regard to the so-called ‘too big to fail’ banks, the correct solution is very simple and requires nothing except the application of basic property rights. The solution is to take away the legal privilege to counterfeit money that the banks currently enjoy, thus putting the banks on a level playing field with everyone else. Not surprisingly, this solution is not up for consideration.”
Central Banks Are On The Defensive by Gary North
sAll over the Western world, central banks are under pressure from their governments to inflate.”
The Government Bubble by Steve Saville (June, 2009)
“The governments of today are giant re-distribution machines . . . . The winners will be chosen by those in power based on perceived vote-gaining potential (the Roosevelt approach) or the misguided belief that the economy can be improved via the government-mandated transfer of resources from A to B (the Hoover approach), although we expect that the biggest winner of all will not be chosen by the government, but will, instead, arise due to the unintended consequences of the wealth re-distribution. We expect gold to be the biggest winner.”
All Roads Lead to Goldman Sachs by Rob Kirby
Goldman alumni don’t quite run the world, but they’re getting close. They are masters at gaming the global financial house of cards.
Are US Taxpayers Bailing Out Greece? by Ron Paul
Not only Greece, but other shaky countries “have strong ties to Goldman Sachs and the case could easily be made that default could have serious implications for big US banking cartels. Considering the ties between the Fed and these big banks, it is not outlandish to wonder if the US taxpayer is secretly bailing out the entire world, country by country, even as our real unemployment tops 20 percent.”
Bankrolling the Incontinent Subcontinent by Gary North
“The theology of the messianic welfare state is being reconsidered. ‘A government need not default’ has always meant, ‘a government can stiff lenders with fiat money.’ Today, that traditional avenue of concealed default has been cut off in Western Europe. The threat of real default has reappeared.”
Monetary Inflation and the Fed’s Exit Strategy by Steve Saville
“We have always been confident in the collective ability of the US Government and the Fed to perpetuate the inflation of the US money supply. The only question in our minds has been: how far will they be willing to go? The answer we have always come up with is that they will at least go as far as they can without causing interest rates to rocket upward.”
Does It Make Sense to Resurrect the Glass-Steagall Act? by Frank Shostak
“The key reason for financial instability is not the repeal of the Glass-Steagall Act as such but the existence of the central bank. It is the central bank that enables banks to practice fractional-reserve banking and thereby pollute the economy with money created out of thin air.”
Bursting Eugene Fama's Bubble by Robert P. Murphy
Eugene Fama, Chicago School economist and father of the efficient-markets hypothesis (EMH), maintains (absurdly) that because bubbles aren’t predictable they don’t exist. Murphy argues that “the United States obviously just experienced a huge bubble in the housing and financial markets. The fact that a lot of people missed it at the time doesn't eliminate its existence — on the contrary, it explains how the bubble got so big.”
Fear Takes the Wheel by Peter Schiff
“If higher U.S. stock prices really did result from an improving U.S. economy, the dollar would be rising in tandem with stocks. However, every time stock prices rise the dollar falls. The best explanation for this dichotomy is that it is inflation not growth that drives both stocks and the dollar. So rising stock prices do not really indicate a bull market in stocks, but a bear market in the dollar.”
Trouble at the Fed by Antony P. Mueller
We need “a different kind of monetary system, one that uses competitive markets in the area of money and banking, and that eliminates the currency monopoly of the state.”
The Bailout of Greece and the End of the Euro by Philipp Bagus
“Each government [of the eurozone] has an incentive to accumulate higher deficits than the rest of [its members], because its costs can be externalized. Consequently, in the Eurosystem there is an inbuilt tendency toward continual losses in purchasing power. This overexploitation may finally result in the collapse of the euro.”
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