Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
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Congressman Cleaver borrowed $1.35 million a decade ago. It was for a car wash. He got a Small Business Administration loan guarantee. If he defaults, taxpayers pick up the tab. The venture has not worked out. He has paid Bank of America for ten years, and he still owes $1.2 million, plus $300,000 in late [...]
Continue reading →A columnist for the London Telegraph admitted that he had a deadline to meet, but he had nothing much to say. Then he proved it. I doubt his audience had any idea what he was talking about when Ron Paul, the US presidential hopeful, declared that “we are all Austrians now”, but you have to [...]
Continue reading →For one week only, I am making available my book on money. It shows how the fractional reserve banking system creates the boom-bust cycle. It shows how the Federal Reserve was set up to keep this system going. Maybe you have been confused about monetary theory. This book will clear things up. Why am I [...]
Continue reading →David Stockman was Ronald Reagan’s first budget director. He resigned because he thought Reagan’s program would produce a huge deficit. He was right. Reagan is the father of the triple-hundred-billion dollar deficit. He thinks the U.S. federal debt is a disaster. It will produce an economic disaster. Stocks will fall. Bonds will fall. Taxes will [...]
Continue reading →On February 29, Bernanke gave a soothing presentation to a House committee. The stock market dropped a little. Gold and silver dropped like a stone. The media focused on Bernanke’s hint that QE3 will not be necessary, that economic growth is slow. Conclusion: monetary stability. At the same time, the European Central Bank injected $712 [...]
Continue reading →You can get it. You just can’t get it at your bank. How can you get it. At your ATM. It’s cheap. It’s fast. It’s untraceable once you make the withdrawal. No other way. Hide your money outside the country? Nonsense. That has not been possible for 35 years. I wrote about this in 1976, [...]
Continue reading →Some Americans are fed up with the big banks. They are withdrawing their funds and placing them in regional or local banks. They have several reasons. One is new fees. The old standbye, poor customer service, is also invoked. The defection rate for large and medsized banks in 2011 was a little over 10%. That’s [...]
Continue reading →This will cheer you up. Moody’s is planning to downgrade Goldman Sachs and Citigroup. Too bad it’s three years too late. But better late than never. The announcement that 17 banks and securities firms that have exposure to global capital markets will be reviewed for potential rating downgrades by Moody’s Investors Service (NYSE:MCO) has renewed [...]
Continue reading →Before 1992, the Swiss franc was once tied loosely to gold. You could not walk into a bank and exchange Swiss francs for a fixed quantity of gold. But there had to be gold in the central bank’s reserves. It could not inflate at will. Then, in 1992, the Swiss government sold out to the [...]
Continue reading →Real foreclosures that take place on the courthouse steps are a benefit to the community. They get homes occupied. They get paying people shelter. There is enormous hostility to foreclosures. Lenders hate them, because they must write off the losses. People who stopped paying but who live in the houses rent-free hate them. They like [...]
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