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President Obama Announces Operation Enduring Burden

Written by Gary North on September 11, 2014

obama

On the evening of September 10, President Obama delivered a speech on ISIL, as he calls it, which everyone else calls ISIS. Here is his problem. ISIS stands for Islamic State of Iraq and Syria. ISIL stands for Islamic State of Iraq and the Levant. Hardly any American knows what the Levant is. It’s the […]

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Federal Reserve Reports on the Failure of the Federal Reserve

Written by Gary North on September 5, 2014

IncomeMeanMedian

The media are full of stories about a recent article in the Federal Reserve Bulletin (Sept. 2014) on how poor people got poorer, 2010-13, while rich people got richer. The article is titled, “Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances.” What the media systematically neglect to […]

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The Official Counterfeiter: A Cartoon Booklet For Congress

Written by Gary North on July 31, 2014

LockmanFED

Back in 1969, Vic Lockman published a cartoon booklet exposing the Federal Reserve System. Lockman was a cartoonist for Disney. He did not do the final cartoons. He wrote the story lines and provided accompanying cartoons. Then the in-house Disney cartoonists re-drew them. Lockman had been reading my essays on the Federal Reserve. He created […]

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Sandbagging the Dollar

Written by Robert Murphy on July 25, 2014

U.S. Dollar

The problem with the USD being the world’s reserve currency is that it’s a situation where things could unravel very suddenly. So long as most investors think that the dollar will be OK next week, then it will be a self-fulfilling prophecy. But if people start to worry, then there could be a sudden crash […]

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New FED Chair => Recession

Written by Robert Murphy on July 18, 2014

Recession

As I make clear in my recent interview with Tom Woods, I think that Bernanke painted himself (and the US economy) into a corner, then handed the paintbrush over to Janet Yellen. In case I sound “paranoid,” let’s review our history: ==> Paul Volcker took over as Chair of the Fed in August 1979. A […]

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Fed Announces (Tentative) End to Bond Purchases in October

Written by Robert Murphy on July 11, 2014

800px-Janet_Yellen_official_portrait

The recently released Fed minutes contain the following information on their plans to fully complete the so-called taper: [P]articipants generally agreed that if incoming information continued to support its expectation of improvement in labor market conditions and a return of inflation toward its longer-run objective, it would be appropriate to complete asset purchases with a […]

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My Translation of Yellen’s Speech on Bank Regulation

Written by Gary North on July 8, 2014

800px-Janet_Yellen_official_portrait

Janet Yellen gave a speech on July 2. It of course received considerable attention in the financial media. Over the years, I have dutifully provided translations of speeches by the chairmen of the Board of Governors of the Federal Reserve System — that tiny part of the FED that is technically part of the U.S. […]

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Video: How the Federal Reserve System Loots Us

Written by Gary North on July 5, 2014

federal-reserve-system

So, you want to understand how the Federal Reserve works? Here is the best video on the topic. It was produced by the Mises Institute. It covers central banking’s history. Unlike other videos on the Federal Reserve, it does not recommend that money creation be turned over to Congress, which will then produce “safe, reliable” […]

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