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Keynes, Lenin, and Hyperinflation

Written by Gary North on September 25, 2014

keynes

In 1919, John Maynard Keynes became an international figure of considerable influence because of his book, The Economic Consequences of the Peace. It was a critique of the Versailles Treaty’s imposition of reparations payments on Germany in the aftermath of World War I. In that book, Keynes made the following observations. Lenin is said to […]

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Walmart Bank: Free Checking — No Overdraft Fees

Written by Gary North on September 24, 2014

walmart-banking

Walmart is about to give traditional banks a run for our money. For a $9.95 a month fee, if you don’t have $500 in the account, you will be able to get free checking — no extra fees. The banks have been cleaning up on overdraft charges and bounced check charges. In 2013, they pulled […]

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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

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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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