This is not a radical idea though many will try to characterize it as such. 100% reserves for banks is actually quite a “conservative” idea.
With 100% bank reserves the credit addicts will scream and holler. The bankers will scream and holler. (Often they are one and the same.) Our economy however would be healthier.
The United States is supposed to be the place where entrepreneurs can flourish. It’s supposed to be a place where if one has a dream, is willing to hustle, and meets the needs of the market, one can grow a business. This is the “land of opportunity.” Carve something out of the earth. Build something to the sky. Grow. Work. Create. Fail. Try again. Succeed. America.
First of all, end the Fed. Just had to say that. End it tomorrow. It is the source of the modern boom and bust cycle, extended the Great Depression, inflated the tech and housing bubbles, and has extended the Great Recession. (Some of its crimes.) Now “Mr. let’s end Glass-Steagall and blow up the world with derivatives” is unofficially throwing his hat in the ring for Fed Chairman. People of the world rejoice, a new dawn is breaking!
Texas wants its gold back from the New York Federal Reserve Bank. Now they are about to abolish the sales tax on gold and silver. The state still has huge amounts of oil. It has a thriving high tech sector and plenty of open space. The climate is generally good, though a bit hot in the summer. Ron Paul lives there. Overall Texas has got a lot of things going for it and if it’s an early (re)adopter of sound money* it will only make the Lone Star State that much more attractive.
Why would anyone live in New Jersey?
It’s good that the New Hampshire Republican made at least a brief stop at Goldman Sachs. How embarrassing would it be if the head of the most important banking trade group wasn’t a Goldman alum?
I once almost literally stumbled into a Tesla dealership. I was walking back to the Metro after a lunch meeting somewhere in Downtown Washington DC when I looked over and in the bottom floor of a mirrored glass building were 2 Teslas and a salesman.
If one wants to learn how to become a top notch crony capitalist, one could do worse than mentoring under Al Gore. In 2000 Al Gore was “worth” (I hate the term) $1.7 million dollars. Now, 12 years later, after parlaying his name and connections in the name of environmental responsibility, he is worth $200 million.
What can I say? The guy is right. He’s right almost all of the time, and on this point he is especially right.
It is good to be a billionaire, from Chicago, who has raised lots of money for the president.
Could the gold cascade of recent weeks be the result of a massive move by one player?
