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Tag Archives: Fed

David Stockman: In Praise Of Price Discovery

I think that it’s funny that David Stockman, Ronald Reagan’s former budget chief, starts his column with this sentence:

“This morning’s market is more erratic than Claire Danes off her lithium.”

Seems a little gratuitously mean. Accurate (?) perhaps but mean. But that is one of the things we like about the guy. His acid.

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What Is Free Banking, and Why Should I Care? (Video)

In some ways “free banking” is a radical idea. In other ways it is deeply conservative (in the best sense of the word). The attached 3 minute video explains the concept well, and why free banking is better than our current centrally planned system.

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The Greater Abomination: Washington’s Lies About TARP’s “Success” Are Worse Than The Original Bailouts, Part I

By David Stockman

 

The mainstream economics narrative is so far down the monetary rabbit hole that the blinding clarity of the chart below has no chance whatsoever of seeing the light of day. That’s because it dramatizes the real truth regarding all the Fed gibberish about “accommodation” and “stimulus”. Namely, that what lies beneath its “extraordinary measures”, such as ZIRP, QE, wealth effects and the rest of the litany, is a central banking regime that systematically destroy savers.  Period.

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