A Furious Ralph Nader Calls Out The Fed As “Tribune To Plutocratic, Crony Capitalism”; Janet Yellen Responds

We have a few really liberal (the American “modern” kind) favorites and Ralph Nader is one of them.

We like him not because he agrees with us on everything, he certainly doesn’t, but he has a moral compass. He has a deeply developed sense of right and wrong. This is something too many in the political world both on the Left and Right simply do not have.

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Perhaps the best 5 minute geopolitical and economics lesson you’ll ever see. From the movie NETWORK

Ned Beatty isn’t totally right here but there’s a good bit of truth in what he says. Regardless below is one of the greatest scenes in all of cinema and everyone should see it.

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Fed To Hold An “Expedited, Closed” Meeting On Monday

I actually look at it as a positive that they announced the meeting for Monday. If they had scheduled a weekend meeting (Remember those weekend Fed meetings in 2008? I sure do.) I’d be more concerned.

Still, I’d love to know what spurred this. I wonder…Could this be why?

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The World’s First Cashless Society Is Here – A Totalitarian’s Dream Come True

I don’t use cash much, but I sure am glad it exists as an option. Governments and central banks however hate cash (they hate gold and silver far more, but they hate cash too) for various reasons.

Fundamentally cash puts just a bit of power into the hands of everyday people. Cash transactions are outside the scope of the big shots. They don’t like that. If the shamans are going to “control” the economy they can’t have anyone operating outside of their control.

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Does the Bell Toll for the Fed?

By Ron Paul

Last week Federal Reserve Chair Janet Yellen hinted that the Federal Reserve Board will increase interest rates at the board’s December meeting. The positive jobs report that was released following Yellen’s remarks caused many observers to say that the Federal Reserve’s first interest rate increase in almost a decade is practically inevitable.

However, there are several reasons to doubt that the Fed will increase rates anytime in the near future. One reason is that the official unemployment rate understates unemployment by ignoring the over 94 million Americans who have either withdrawn from the labor force or settled for part-time work.

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Doubters question ‘strange’ stock market rebound

You can definitely put us in that camp. Seems ever since China started locking away short traders in gulags (not an exaggeration) while the Chinese central bank proceeded to literally buy the Shanghai market to keep it afloat, things have chilled out a bit. In fact many world markets (including ours) have had a nice rally through the often stormy month of October. So now with those pesky “speculators” locked away in a dungeon somewhere and the press thoroughly informed that they had better report official Chinese numbers instead of those oh so annoying “real”

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Citigroup Executive (Who benefited from the bank bailouts) Reviews Book on the Federal Reserve

Love that “Dumbo” is on the back. Not a Federal Reserve note (last time I checked), but basically the same.

Hey, here’s a shock. Robert Rubin loves the Fed! I can’t believe it. It’s not like Robert Rubin has profited handsomely (to put it very mildly) under the central banker planned economy.

Here’s what’s frustrating for many of us in the Fed critic world. So few people really want (to try) to understand money. Money can be a scary thing.

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Global Depression Coming (?) – Even “Powerhouse” Germany and UK Slow “Dramatically”

We added the question mark to the above headline from Zerohedge. We think such a depression is entirely possible, perhaps beyond possible. But regardless there are serious shudders moving through the world economy right now and we are deep into the current “expansion.”

So what happens when a recession happens when we are already starting from a lower baseline? Well, you know what happens. Things get ugly. And this time the geopolitical stakes are higher than they were in 2008.

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The Fed is never going to raise rates (?), Economy facing headwinds from overseas, Job participation rate 38 year low

As we’ve said China is driving things economically right now. The Federal Reserve doesn’t want to say it. It wants everyone to think that though our boat is leaking it is unlikely to leak as much as the rest of the the world’s economic “boats.” And right now that may be true. But we are still taking on water. The Great Economic Experiment post 2008 is failing, as many of the more market oriented have long predicted, and now the American central bank has very few options.

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Fed Should Raise Rates To Loosen Policy

Zero Interest Rate Policy (ZIRP) is failing for the reasons outlined below.

At least before ZIRP was just failing generally. Now we appear however to be feeling the first acute effects of this grand experiment. And that is not good news.

To turn things around, or at least to begin turning things around, rates have to normalize. Which means likely that rates need to go up.

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