One thing is for sure. Pretty much none of it is finding its way to “Main Street.” Many QE dollars have however found their way into the bank accounts of those who were already rich. Read More
Indeed we don’t. But we are so conditioned to the idea that the cost of renting money fundamentally should be determined by a central bank that most don’t think anything of monetary policy. When the economy tanks, the Fed’s supposed to ease, when the economy gets too hot it’s supposed to raise rates. This is what we were all taught in our macroeconomics courses. Makes sense…I guess.
Actually not at all. These fluctuations, the business cycle, are created by the world’s central banks.
And we learn more about the most powerful woman in the world.
Indeed. End the Fed.
Sounds so radical doesn’t it? Isn’t the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesn’t blow up?
What if I told you that it doesn’t smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has “blown up” multiple times under the Fed regime? The world is worse for having the Fed in it.
The Federal Reserve just grows and grows. Born in 1913, 100 years later it sits atop world finance the unrivaled master of what it surveys. And the master likes to know whats going on in his kingdom.
The 0% interest rates of the past 5 years have made the wealthiest people in America and the world much wealthier. At least in (fiat) dollar terms.
This in an interesting take on why Reid moved when he did. From one of the best connected people in politics, Ron Paul. (He does have a son in the Senate.)
This isn’t a surprise. There is no way she would have been considered for the top job at the Fed had she been for an audit.
But we must keep the pressure on and we are thankful that Senator Vitter raised the issue.
I was just at a conference in Downtown Manhattan and things are good there. My hotel (which thankfully I didn’t have to pay for) was modest but cost a sum far beyond what one might pay for a comparable room in another large city in the US. A beer pushed 11 bucks. Everything was more expensive because the money printed by the Fed practically spilled out onto the street around the part of town I was staying in.
The further one gets from the Federal Reserve spigot however, the more austere the world gets. Remember, each dollar printed by the Fed reaches the guys in New York and DC first – while prices are relatively cheap. By the time these debauched dollars reach the rest of the country prices are rising and the dollar buys less.
When Ron Paul called for ending the Fed, this is one of the chief reasons why.