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Convenient Illusions: The 12 Regional Federal Reserve Banks

Written by Gary North on November 5, 2013

In late December 1913, the government of the United States voted the Federal Reserve Act into law. The promoters had a political problem: widespread resistance to the idea of a central bank. So, the designers of the Federal Reserve System — mainly Kuhn, Loeb economist Paul Warburg, a recent German immigrant — created an illusion: […]

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Panhandlers of Inflation

Posted on October 31, 2013

By Richard Ebeling On October 27th, The “New York Times” featured an article on, “In Fed and Out, Many Think Inflation Helps.” It quoted Costco’s chief financial officer as saying, “I’ve always said that a little inflation is good.” Charles Evans, president of the Chicago Federal Reserve Bank, said in a recent speech that, “inflation […]

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No FED Taper Expected This Week

Written by Gary North on October 28, 2013

The experts predicted a taper for six weeks ago. They had predicted this all summer. I kept saying it would not happen. It didn’t. The experts then expressed surprise. Silly experts. The FED is now trapped. It will continue to inflate at $1 trillion a year. If it doesn’t, we will get a replay of […]

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Central Banks: No Cutback in Money Creation

Posted on October 25, 2013

We are at the cusp of another round of global monetary easing,” said Joachim Fels, co-chief global economist at Morgan Stanley in London. Policy makers are reacting to another cooling of global growth, led this time by weakening in developing nations while inflation and job growth remain stagnant in much of the industrial world. The […]

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Conterfeiting: A Federal Monopoly

Written by John Odermatt on October 18, 2013

One sure-fire way to end up being charged with a felony is by competing with a monopoly that is run by the State.  Crimes against the State are always pursued aggressively and punished to the highest letter of the law. Creating copies of the only approved fiat currency ranks at the top of the list. […]

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Bernanke Dodges the Courts . . . Until February 1

Written by Gary North on October 17, 2013

In 2008, Bernanke followed Treasury Secretary Hank Paulson’s lead. He supported a $182 billion bailout of AIG, which was about to go bankrupt. Had it gone bankrupt, it would not have paid Goldman Sachs $22 billion in mortgage insurance. So, AIG got its money, and Goldman Sachs got its money. The payouts to big banks […]

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Yellen to the Rescue?

Posted on October 17, 2013

By Axel Merk While Democrats and Republicans fight with water pistols, the President may be readying a bazooka by nominating Janet Yellen to succeed Ben Bernanke as Fed Chair. You may want to hold on to your wallet; let me explain. Water pistols Our reference to water pistols refers to our assessment that bickering over […]

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“Gravity” in Washington — Not Gravitas

Written by Gary North on October 16, 2013

I went to see “Gravity.” It is one of the great cinematic experiences ever. It is to this generation what “Destination Moon” was in 1950 — and with one of the same scenes: the use of compressed gas to propel a person in space. (See it at 54 minutes.) The movie hinges on a catastrophe: […]

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