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When It’s “Greece Time” in America

Posted on July 4, 2015


By Jared Dillian I was watching the 6 o’clock news and saw images of closed banks in Greece and people lined up at ATMs. I’m sure you did, too. This must seem surreal to most people because it seems so remote. But put yourself in these people’s shoes for a second. You have money in […]

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Helicopter Money and the MSM

Posted on June 6, 2015


by David Stockman It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier? Well, yes there are. They spread this lunacy from the […]

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The Digital Revolution vs. Inflation

Written by Gary North on May 30, 2015


There are constant debates over whether we are in an inflationary or a deflationary environment in the United States. I argue, and I have been arguing for a decade, that we are in a mildly inflationary environment with respect to consumer prices. Obviously, with respect to the monetary base, we have been in a wildly […]

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Muni Bonds as AAA Bank Capital

Written by Gary North on April 25, 2015


The Federal Reserve System is planning to issue new rules that will allow banks to buy municipal bonds as credit reserves for banks. Follow the logic: banks will supply capital to cities, which will serve as credit for banks. This is modern banking 101. This new arrangement will help provide a floor for cities’ debt. […]

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My Bank vs. The Biggies

Written by Gary North on April 25, 2015


I bank at the Bank of the Ozarks. I have for almost 16 years. The bank bought out a bankrupt Georgia bank a mile down the road from my home. The Bank of the Ozarks has utterly creamed the big multinational banks over the last ten years. So have a lot of other regional banks. […]

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Banker Says: “Abolish Cash!”

Posted on April 18, 2015


The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, […]

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Big Bank Bust: Layoffs

Posted on April 1, 2015


Top European and U.S. banks axed 59,000 jobs last year as they restructured and cut costs, with headcount expected to shrink further in Europe as bosses strive to improve profitability that has been hit hard by tougher regulation. Lenders have also sold or shut businesses to narrow their focus to avoid falling foul of regulators […]

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Free Market Money vs. FED and Greenbacks

Written by Robert Murphy on March 12, 2015


For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity monies have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver. Unfortunately, […]

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Subprime Auto Loans Take a Hit

Posted on March 5, 2015


by Wolf Richter Wells Fargo, which originated $30 billion in auto loans last year, has for the first time put a cap on subprime auto loans, limiting the dollar volume of subprime loan originations to 10% of its total auto loan originations. The New York Times reported that the bank, “according to people briefed on […]

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