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So, You Think Bank of America’s $16.5 Billion Settlement Will Go to Defrauded Homeowners

Posted on September 3, 2014

bank of america

Perhaps the biggest winners in the largely tax-deductible $16.5 billion U.S. Department of Justice’s recent settlement against Bank of America were B of A itself, public employee pension funds, state bureaucrats and political hacks. Attorney General Kamala Harris declared the settlement “brings help to hard-pressed homeowners and communities in California.” Analysis suggests that the biggest […]

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Pay for Big Bankers Has Fallen Since 2007

Written by Gary North on August 27, 2014

big-bankers

The free market is not alive and well in central bank-protected banking, but it is at least alive. Big banks are cutting back pay scales to employees. William Wright, who runs New Financial, a think-tank, has crunched the numbers on his website. He calculates that disclosed pay at big investment banks has dropped by more […]

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Europe Is Deflating. Keynesians Are Aghast.

Written by Gary North on August 12, 2014

euro-deflation

This gets little publicity. For two years, the European Central Bank has been shrinking its monetary base. Europe as a whole is close to recession, but prices are not falling. Keynesian analysts are fit to be tied. The ECB is supposed to inflate, like other central banks. It isn’t. This Washington analyst has little good […]

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Illegal Marijuana Market Goes to Pot

Written by Gary North on May 27, 2014

marijuana

Pot growers in Mexico are going bankrupt. Prices have fallen 75%. Why? It has been legalized in two states: Colorado and Washington. The price of pot has fallen 75%. This is basic economics. Competition drives down prices. But how? How does all that legal pot in two states get to other states? By car. Someone […]

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Former Fed Employee Is Charged With Felony For Threatening To Kill Boss

Posted on May 10, 2014

federal-reserve-san-francisco

Perhaps we should be more measured with our criticism of the Federal Reserve System. It is an emotional topic for many Americans, and it’s not hard to understand why. The Federal Reserve System is a direct cause of the systematic devaluation of the average citizen’s money and exacerbates the income gap by funneling freshly printed […]

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Quick Observations on Inflation in the 1970′s

Posted on April 24, 2014

money

“Gold bugs” take it for granted that it was no coincidence that the US got hit with stagflation in the 1970′s, because Richard Nixon infamously severed the dollar’s last tie to gold in 1971. Others, however, dispute this connection. So I thought it worthwhile to make a simple case in defense of the gold bugs: […]

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FED Drops Unemployment Target Even Lower

Posted on April 10, 2014

yellen

Federal Reserve officials had a secret video conference call in early March and reached a general consensus that the 6.5% unemployment rate threshold for the first rate hike was outdated, the central bank said Wednesday. A summary of the video conference was included in the minutes of the Fed’s March 18-19 meeting released by the […]

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