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Who Got the $77 Billion That the FED Earned in 2011?

Written by Gary North on March 22, 2012

The headline on MarkeWatch blared: Fed earns $77 billion from balance-sheet explosion. That got my attention. We learned the following: The Federal Reserve and its district banks earned the second-highest amount in its history last year as the central bank profited from increasing its balance sheet to boost the U.S. economy. The Federal Reserve and […]

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Bernanke Attacks Gold Standard, Praises Fiat Money

Written by Gary North on March 22, 2012

Ben Bernanke, Dr. Fiat Money, attacked the gold standard in a speech. He was speaking at George Washington University, which 35 years ago granted Mark Skousen his Ph.D. in economics. Skousen wrote his dissertation defending the gold standard. It was published in 1988, Economics of a Pure Gold Standard. It is clear that Dr. Bernanke […]

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The FED’s Brand New High School Propaganda Course

Written by Gary North on March 14, 2012

The Federal Reserve has written a high school course on how the Federal Reserve is Constitutional and also a terrific thing for the economy. There is no question that the FED is on the defensive. There is no question why: Ron Paul’s constant hammering of the FED. . . . it now appears that the […]

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Banks, Bubbles, and Busts: My New Free Book on Money

Written by Gary North on March 6, 2012

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 […]

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Schizophrenia: Bernanke (Stay Calm) vs. ECB (Panic)

Written by Gary North on March 1, 2012

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 […]

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Geithner Gets a Subpoena: The Fun Will Soon Begin

Written by Gary North on February 20, 2012

The bailouts of October 2008 kept some very rich people keep their money. They did not wind up like employees of Lehman Brothers, which was allowed by the Secretary of the Treasury to fail. The Federal Reserve is now in damage-control mode. Ron Paul has inflicted a lot of damage. This is going to get […]

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Guaranteed Losses for Savers: The New Normal

Written by Gary North on February 17, 2012

Rick Rule, the legendary investor, has some thoughts on the Federal Reserve’s newly announced policy of low interest rates through 2014. My thought here is a reflection on statements by senior US monetary officials and the world’s reaction to them. There are two statements from the Federal Reserve I find interesting. The first signaling to […]

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The Overnight Crash

Written by Gary North on February 16, 2012

One of the facts of the “new normal” is that the holding period for stocks is now down to two months. It was 10 years in the 1970s. The “buy and hold” strategy is defunct. This leads to greater market volatility. Robert Fitzwilliam of the Portola Group has warned: “The system is structured for chaos. […]

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A Federal Reserve President Calls for More Fiat Money

Written by Gary North on February 14, 2012

The president of the Federal Reserve Bank of San Francisco has recommended that the FOMC [Federal Open Market Committee] put the pedal to the metal. There has to be far more monetary stimulus. This is Keynesianism running amok. He made a major speech recently. As a good Keynesian, he sees the trade-off between fiat money […]

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