Muni Bonds as AAA Bank Capital

Written by Gary North on April 25, 2015

bonds

The Federal Reserve System is planning to issue new rules that will allow banks to buy municipal bonds as credit reserves for banks. Follow the logic: banks will supply capital to cities, which will serve as credit for banks. This is modern banking 101. This new arrangement will help provide a floor for cities’ debt. […]

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Taxes: Bad News, Good News

Written by Gary North on April 25, 2015

Tax-Recession

Federal tax receipts are approaching 17.5% of GDP. Whenever the percentage gets this high, a recession follows. That’s the bad news. What’s the good news? The percentage rarely gets above this, and when it does, there is a recession. Receipts fall. This means that the federal government cannot get above 20%. It can borrow to […]

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My Bank vs. The Biggies

Written by Gary North on April 25, 2015

bank-of-the-ozarks

I bank at the Bank of the Ozarks. I have for almost 16 years. The bank bought out a bankrupt Georgia bank a mile down the road from my home. The Bank of the Ozarks has utterly creamed the big multinational banks over the last ten years. So have a lot of other regional banks. […]

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The FBI Betrays a Trust

Written by Gary North on April 25, 2015

FBI

Government bureaucracies eventually betray the public’s trust. Give them enough time, and they will choose self-aggrandizement and nest-feathering over the enforcement of the law. They will get away with this for so long that it will corrupt the founders’ original commitment to moral reform. I grew up in an FBI household. My father never had […]

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Texas Invaded by Foreign Troops: JADE HELM 15

Written by Gary North on April 25, 2015

jade-helm-15

What are U.S. troops doing in Texas? I know. Training. Training to suppress whom? Why? Then there is the matter of jurisdiction. Is there any jurisdiction that has immunity from future invasion? If so, Bastrop County, Texas, is clearly not one of them. It is located close to the capital of the state. The screws […]

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Christian Economics in One Lesson: Chapter 3

Written by Gary North on April 18, 2015

gary-north

The Blessings of Destruction If fire break out, and catch in thorns, so that the stacks of corn, or the standing corn, or the field, be consumed therewith; he that kindled the fire shall surely make restitution (Exodus 22:6). This passage has to do with legal liability. If somebody sets a fire on his own […]

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Yellow Alert! Worldwide Stock Market Sell-Off

Written by Gary North on April 18, 2015

stock-market

Pay attention. In recent months, the U.S. stock market has gone nowhere: up, down, up, down. No pattern. Yesterday, the world’s stock markets tanked. No warning. Wham! No single central bank is responsible. No single central bank can goose the world’s stock markets. No coordinated policy is likely . . . yet. There is no […]

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Banker Says: “Abolish Cash!”

Posted on April 18, 2015

cash

The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, […]

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