And here comes the taper? (Maybe?)
These guys never stop. I respect that about JP (in the way that I respect the Empire in Star Wars) and there is something to be said for an idea so disruptive that it attracts the sharks at JP.
I think Ron Paul would agree with me that the Fed has been doing a pretty good job of destroying the dollar all by itself. Bitcoin could be a watershed however.
The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.
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.
Where do modern economic bubbles come from? They come from the world central banking system, chiefly the Fed, the prime mover of crony capitalism.
“The Fed is exporting this lunatic policy worldwide.”
Ah yes, JP Morgan. Friends and frenemies with this White House. Jamie Dimon is held up publicly by the administration for a few days in an orchestrated PR move, then Dimon flies back to New York, he and his company in the clear. Dimon was never going down. JP Morgan certainly wasn’t.
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.