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Tag Archives: Federal Reserve

Bill Black: Why and how Holder let all the big bank CEOs off the hook (Video)

“Responsibility remains so diffuse, and top executives so insulated that any misconduct could again be considered more a symptom of the institution’s culture than a result of the willful actions of any single individual.” -Eric Holder on why he “could not” prosecute anyone in the top echelons of the big banks. What a guy.

Bill Black is no ideologue. He is someone who is committed as far as I can tell to legitimate justice in massive system of financial fraud we know today as “banking”. No doubt he and I would disagree about the size and power of government generally and probably about the fundamental nature of money itself. However, he helped prosecute the case against bankers during the S&L crisis and he is extremely knowledgeable, not to say was also effective.

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Why you perhaps you should rethink your pro-“Net neutrality” position (Short video)

I have to say that I am all “Net neutralitied” out today. I spent more time than normal in the comments section of a previous post today on the subject and I’ve been reading about the arcane aspects of Net neutrality for a week. Time for a break.

But you know I saw this great little video on the subject on Twitter and I just felt like it deserved a post. The guy appears (like me) to live a lot of his life on the Web. He also (like me) has evolved on the subject of Net neutrality. I think many people have recently as they’ve learned more about what “Net neutrality” actually is.

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Huffington Post: I’m a Liberal Democrat. I’m Voting for Rand Paul in 2016. Here Is Why.

What is interesting particularly to me is that on economic issues Rand Paul is by FAR FAR FAR the most “conservative” of the likely GOP candidates. On other issues I think he just takes a pragmatic and grown up approach. This is a winning combination. Jeb and Christie ain’t going to do it folks. They won’t get elected. Rand has a real shot and he has a chance at winning the presidency in a completely unique way which will totally screw with the political consultant class in DC. And let’s be honest, liberal,or conservative, or whatever, we all want to see those guys get it.

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World Economy Worst in Two Years, Europe Darkening, Deflation Lurking: Global Investor Poll

Indeed. Europe is pretty much in depression. So is Japan. (But so what’s new?) And by the way deflation is not necessarily a bad thing. We had mild price deflation through the most prosperous part of American history between the Civil War and the Fist World War. Things should naturally trend toward being less expensive as innovation increases, delivery streamlined, and competition increases.- Just had to get that in.

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Why Wall Street loves Hillary

For the bankers the main issue is who will keep the current implied bailout regime in place? Who will let the Federal Reserve do what it does without criticism? Who will keep the light from shining on them? Who won’t question the current system of debt piled on debt piled on debt. Who will happily do The Street’s bidding?

Hmmm.

Hey Hillary, you’re “pragmatic.” You look pretty good. Here’s $100 million. Now go knock em’ dead.

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Ron Paul Says: Watch the Petrodollar, PD exports go negative for the first time in 18 years

We’ve written about the petrodollar a number of times. I even wrote 2/3 of a novel around the petrodollar a few years ago. It is important and it is not widely understood.

In a nutshell oil is traded in dollars and only dollars. (Almost entirely, countries have tried to set up side deals without the dollar but for the most part the dollar is where it’s at.) That means if country A wants to buy oil from country B country A better have some dollar reserves. Of course we get to “print” dollars which is nice for us.

The dollar is the world reserve currency. But if that were ever to change, especially if somehow it changed quickly, things would get pretty crazy economically pretty fast, think 2008 times 5. The “good” news is we have a bunch of aircraft carriers on call 24/7 to make sure that doesn’t happen. At least the US thinks it’s sure it won’t happen.

Always makes sense to watch the petrodollar but especially in times like these.

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