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Queen QE: Yellen’s Nomination Pushes Up Stocks

Written by Gary North on October 10, 2013

The stock market’s reaction to the announcement that Janet Yellen is, as expected, Obama’s nominee to be Chairman of the Board of Governors sent stocks higher. Then they fell back. Then they rose. They closed higher. Yellen is a dove. She is more of a dove than Bernanke. This means that QE3 is likely to […]

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Rothbard on the FED: He Told Us So

Written by Gary North on October 9, 2013

The news that President Obama will nominate Janet Yellen as Chairman of the Board of Governors of the Federal Reserve System should remind us of the disaster that the Federal Reserve is and has been. It was not quite 100 years ago that the Federal Reserve Act was signed into law by President Wilson. This […]

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Jim Willie Is Dead Wrong About a Bond Market Collapse in 2014.

Written by Gary North on September 27, 2013

It is important that analysts who say that something huge is coming provide coherent evidence for such an event. Let me offer a recent example of an analyst who failed to do this. In an article by Jim Willie, whose subscription-based newsletter is the improbably titled Golden Jackass, we learn that the Treasury bond market […]

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QE3 is a Huge Subsidy to the Top 10%.

Written by Gary North on September 26, 2013

The Federal Reserve System’s policy known widely as QE3 is a massive subsidy of the rich at the expense of the middle class. This is the conclusion of Stephen Roach, who for years was chief economist for Morgan Stanley. He calls this policy destabilizing. He says this: the FED “is courting an increasingly treacherous endgame […]

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The Larger the Deficit, the Greater the Default

Written by Gary North on September 25, 2013

Americans are told the following from their youth. “What goes up must come down.” “You can’t get something for nothing.” “There are no free lunches.” “What goes around comes around.” “The bigger they are, the harder they fall.” This is Austrian School economic theory. When they are old enough to vote, they are told this. […]

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