David Stockman — Right On The Money, Economy, Trump and The Warfare and Welfare State — You Have Been Warned — Videos

Posted on April 30, 2017. Filed under: American History, Banking, Blogroll, Books, British History, Business, Communications, Congress, conservatives, Constitution, Corruption, Crisis, Cult, Culture, Economics, Education, Elections, Employment, European History, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, government spending, history, History of Economic Thought, Illegal, Immigration, Inflation, Investments, Islam, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Middle East, Monetary Policy, Money, Money, Non-Fiction, People, Philosophy, Photos, Politics, Rants, Raves, Raymond Thomas Pronk, Speech, Strategy, Talk Radio, Tax Policy, Taxation, Taxes, Video, Wahhabism, War, Wealth, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , |

Image result for david stockman books

Image result for david stockman books

Image result for david stockman books
Image result for david stockman booksImage result for david stockman booksImage result for david stockman booksImage result for david stockman books

Image result for cartoons about david stockman

World’s Greatest Memory and Trump’s La la Land | David Stockman’s Warning

Published on Apr 29, 2017

You can also check out the following:

David Stockman’s Warning
Jim Sinclair
James Turk
Web bot
Silver News
Gold
Bix Weir
RoadToRoota
Road To Roota
Kyle Bass
Realist News
Greg Mannarino
Rob Kirby
Reluctant Preppers
The Next Newss
Info Wars
Maneco64
Mike Maloney
Gold Silver
Eric Sprott
Jim Rickards
David Morgan
Peter Schiff
Max Keiser
Robert Kiyosaki
SilverDoctors
Finance and Liberty
Nomi Prins
Jim Willie
Clif High
Martin Armstrong
Ron Paul
Pastor Williams
Bill Holter
Bo Polny
Jim Sinclair
James Turk
Clif High

Stockman on Trump’s Tax Plan: ‘Borrowing Money Is Not the Way to Prosperity’

David Stockman: National debt is ticking time bomb

David Stockman: Trump doesn’t know anything about tax policy

David Stockman: We’re wasting money on defense

David Stockman on Trump’s wall: I think it’s a stupid idea

David Stockman: Economy is on the edge of ruin

David Stockman: We’ll have a fiscal bloodbath, not fiscal stimulus

David Stockman Trumps Efforts To Drain The Swamp

David Stockman – Trump Will Create A Debt Crisis Like Never Before – 28 Feb 17 | Gazunda

David Stockman – Global Deflation As A Result Of Massive Over-investment – 9 Feb 16 | Gazunda

David Stockman Speaks on Shakeup Expected At The White House. #TheWhiteHouse

David Stockman: We are at peak debt headed for a recession

David Stockman on Trump’s infrastructure spending

RTD News: “A 20 Trillion Ticking Time Bomb…” – David Stockman

David Stockman: We have a massive bubble in the market

David Stockman -Trump Can’t Stop Market Crash Predicts Reagan’s Budget Director

Stockman: U.S. election is Brexit on steroids

[74] David Stockman | One Big Fat Ugly Bubble

David Stockman: Lester Holt was in the tank for Hillary Clinton

Stockman: Janet Yellen is a clueless economist

David Stockman: What the Fed and the Feds Have Done to Us, and How to Reverse It

David Stockman-We Are Nearing the End

[youtube-https://www.youtube.com/watch?v=5exbO-Ros2Q]

David Stockman: Why a Trump Presidency Is Very Possible

What Trump Should Do – With David Stockman

David Stockman Bubbles, Economic Collapse Coming 1

Robert Kiyosaki David Stockman discuss the biggest financial crisis in US history present,future

David Stockman: The US Is Fiscally, Morally, Intellectually Bankrupt

RTD News: “There Will Be No Rescue Out Of Washington This Time” – David Stockman

David Stockman – Conversations with Casey

How Crony Capitalism Corrupts the Free Market | David Stockman

The Forgotten Cause of Sound Money | David Stockman

Stockman: Market Will Not Be Pretty Under Trump

[Ed. Note: To see exactly what this former Reagan insider has to say about Trump and specifically what he believes must be done to drain the swamp, David Stockman is sending out a copy of his book Trumped! A Nation on the Brink of Ruin… And How to Bring It Back out to any American willing to listen. To learn how to get your free copy CLICK HERE.]

As bonds break a three day win streak and the U.S market hitting new record highs with a trifecta of records, CNBC was roaring about what to expect going forward. The Daily Reckoning contributor David Stockman joined Courtney Reagan to discuss what to expect going forward.

After the CNBC host positioned the critiques offered by David Stockman of the Trump administration she asked whether that would continue given the state of the market. Stockman did not mix words beginning the conversation with, “What’s going on today is complete insanity. The market is apparently pricing in a huge Trump stimulus package, when if you just look at the real world out there the only thing that is going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S history.

How much more evidence do these so called traders need? Trump is lost in Twitter-land and he is out of control. He is turning out to be a complete jackass in the Oval Office. Co-President Bannon is off the deep end on terrorism, travel bans, Mexican walls, immigrant bashing and protectionism.”

David Stockman is a former Reagan Administration official who was the Office of Management and Budget Director. He also served as a two-term Congressman from the great state of Michigan. His latest book, Trumped! A Nation on the Brink of Ruin… And How to Bring It Back is out now. It offers his insight and exclusive analysis on exactly what the newly elected president must do in order to succeed in the White House. To get your own FREE copy, CLICK HERE to learn how.

“[They are] having nothing to do with the economic agenda and Trump has got an empty economic bench. He’s got no Secretary of the Treasury, no Office of Management and Budget, no Council of Economic Advisor Chairman. By this time, when I was there with the Reagan Administration, the plan was ready to go and he was going to Congress within a couple of days into February. We have a debt ceiling freight train coming down the road which will hit March 15 and then the cash will start running out and the system will be on edge. All of the continuing resolutions expire in April.”

“They are going to spend the year trying to repeal and replace Obamacare and it will be a fiasco. Nothing is going to happen this year. I don’t even think they can pass the budget resolution. There is going to be no tax action this year. If there is any bill next year it is going to be deficit neutral. Which means it is not going to add $15 to earnings like these crazy people expect.”

“Why would you be trading in this market, with this kind of chaos emerging everywhere at twenty six times trailing earnings? That’s where we are. It is completely crazy and it is only a question of how many more days or weeks that this kind of fantasy land can last.”

David Stockman Market In Text 2

Courtney Reagan then pressed back asking, “At what point do you give in and admit that [Trump] is atypical but maybe he could get things done? I mean, look at all of the CEO’s that Trump has met with.” The former Reagan insider remarked that, “CEO’s come and go with every president. They came in with Reagan, they tell a president what they want to hear. These guys are just selling the song and dance about how many jobs they’re going to create in the next five years. They have no clue.”

“If we have a recession in the next five years, which surely we will, because recessions have not been outlawed and we haven’t had one for ten years. None of this stuff is going to happen. This is meaningless. What is meaningful is that Trump is out of control. This tweeting and getting off track on all of this terrorism stuff. This is a sign that there is going to be no governing coalition and that all of this fiscal stimulus expected by Wall Street is a complete fantasy. It can’t happen.”

Rickards’ Reaction: A Model For Predicting Financial Collapse

Jim Rickards’ reveals the only model you need to safe guard your wealth from the next financial crisis. In this 5-part exclusive framework a former Wall Street and intelligence community insider breaks down his analysis into a model to warm of impending financial collapse. The model is designed to offer the easiest and fastest way to apply hard facts, science and good sound analysis. Sign up for the Daily Reckoning e-letter today and receive your FREE report.

We will NOT share your email address

When CNBC then turned over the camera to a day trader who asked about the positive sentiment that exists within the market regarding Trump and his plan to deregulate Stockman stayed true to message. “Trump is just putting out press releases and the guise of Executive Orders. All of this stuff is going to get litigated, it goes through a rulemaking process, that takes years. So the relief on regulation will be important, but it way down the road and it won’t be that impactful.”

“The second thing, is we’re at 92 months in this expansion already. It is running out of gas. You can’t expect it to run forever. That is seemingly what is priced in by the market.”

“The third thing is, we have a giant debt and deficit problem. The debt ceiling is coming back into play it will be 20 trillion when it freezes in on March 15th. I’ll tell you this, people aren’t paying attention to the fact that Trump will never get a debt ceiling increase through the Congress without a government shutdown. When that happens it is, “bar the doors” because nobody is expecting it. We need to look at the facts, not the hopes.”

As the CNBC affirmed, it is not clear that the market is just going to drop tomorrow and history will repeat itself, Stockman repositioned. “The market it clearly factoring in a big Trump stimulus and I think anybody down there would admit if it doesn’t happen, if we get zero tax cuts, if we get a fiscal bloodbath in the Washington I am describing – the market is not going to stay where it is today at these absurd multiples of earnings.”

“This is all based on the idea that there is going to be a surge of economic growth and that profits are going to come back from about $89 a share by basis, where they were during the last twelve months, to a potential $110 or $130. My argument is there is not going to be any economic rebound. There is not going to be any profit surge. Therefore the market will be repricing dramatically downward once it is clear.”

Another CNBC analysis asked why – with the positive trends in jobless claims, manufacturing increasing, interest rates at near record lows – would the market not close out the year near record levels? “The market is assuming that profits are going to rebound. That we are not going to have any market dislocation and that nobody is going to be pushing back on Trump. It is hard to understand how people watching the day-to-day action down there could believe that.”

“Everybody is pushing back on Trump, he can’t even get his cabinet approved. He’s going to be bogged down in a Supreme Court fight, he’s going to be bogged down in a fight over a ridiculous travel ban. The idea that there is not going to be pushback is naive. What there is going to be is a train wreck. It is already clear that the people in the White House have no idea what they’re doing and it is only a matter of time before this honeymoon goodwill evaporates and the politicians get down to doing what they do best. Which is to undermine and obstruct anything that might be positive.”

When finally asked whether there is anything positive that would make him turn bullish in the near future he responded affirmably, “No, because Trump is inheriting thirty years of a disaster created by his predecessors. We have to take this $20 trillion of debt seriously. There is $10 trillion more built in under current policy, and that is without a dime of Trump tax cuts, infrastructure or stimulus. There is going to be a tremendous fiscal crisis in the years ahead which will prevent any of the kind of action that the “stimulus junkies” are looking for.

To catch the full interview with David Stockman on CNBC click here. If you would like to claim your own free copy of David Stockman’s bestseller Trumped! Click here to learn how.

Thanks for reading,

Craig Wilson, @craig_wilson7
for the Daily Reckoning

https://dailyreckoning.com/stockman-market-under-trump/

David Stockman

From Wikipedia, the free encyclopedia
David Stockman
David Stockman by Gage Skidmore.jpg
Director of the Office of Management and Budget
In office
January 21, 1981 – August 1, 1985
President Ronald Reagan
Preceded by Jim McIntyre
Succeeded by Jim Miller
Member of the U.S. House of Representatives
from Michigan‘s 4th district
In office
January 3, 1977 – January 21, 1981
Preceded by Edward Hutchinson
Succeeded by Mark Siljander
Personal details
Born David Alan Stockman
November 10, 1946 (age 70)
Fort Hood, Texas, U.S.
Political party Republican
Spouse(s) Jennifer Blei (1983–present)[1]
Education Michigan State University (BA)
Harvard University
Website Official website

David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

Early life and education

Stockman was born in Fort Hood, Texas, the son of Allen Stockman, a fruit farmer, and Carol (née Bartz).[2] He is of German descent, and his family’s surname was originally “Stockmann”.[3] He was raised in a conservative family, and his maternal grandfather, William Bartz, was a Republican county treasurer for 30 years.[4][5] Stockman was educated at public schools in Stevensville, Michigan. He graduated from Lakeshore High School in 1964[6] and received a B.A. in History from Michigan State University in 1968. He was a graduate student at Harvard University, 1968–1970 studying theology

Political career

Stockman’s Congressional portrait

He served as special assistant to United States Representative and 1980 U.S. presidential candidate John Anderson of Illinois, 1970–1972, and was executive director, United States House of Representatives Republican Conference, 1972–1975.

Congress

Stockman was elected to the United States House of Representatives for the 95th Congress and was reelected in two subsequent elections, serving from January 3, 1977, until his resignation January 21, 1981, to accept appointment as Director of the Office of Management and Budget for U.S. President Ronald Reagan.

Office of Management and Budget

Stockman was one of the most controversial OMB directors ever appointed, also known as the “Father of Reaganomics.” He resigned in August 1985. Committed to the doctrine of supply-side economics, he assisted in the passing of the “Reagan Budget” (the Gramm-Latta Budget), which Stockman hoped would curtail the “welfare state“. He thus gained a reputation as a tough negotiator with House Speaker Tip O’Neill‘s Democratic-controlled House of Representatives and Majority Leader Howard Baker‘s Republican-controlled Senate. During this period, Stockman became well known to the public during the contentious political wrangling concerning the role of the federal government in American society.

Stockman’s influence within the Reagan Administration was weakened after the Atlantic Monthly magazine published the infamous 18,246 word article, “The Education of David Stockman”,[7] in its December 1981 issue, based on lengthy interviews Stockman gave to reporter William Greider.

Stockman was quoted as referring to Reagan’s tax act in these terms: “I mean, Kemp-Roth [Reagan’s 1981 tax cut] was always a Trojan horse to bring down the top rate…. It’s kind of hard to sell ‘trickle down.’ So the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory.”[7] Of the budget process during his first year on the job, Stockman was quoted as saying, “None of us really understands what’s going on with all these numbers,” which was used as the subtitle of the article.[7]

After “being taken to the woodshed by the president” because of his candor with Greider, Stockman became concerned with the projected trend of increasingly large federal deficits and the rapidly expanding national debt. On 1 August 1985, he resigned from OMB and later wrote a memoir of his experience in the Reagan Administration titled The Triumph of Politics: Why the Reagan Revolution Failed in which he specifically criticized the failure of congressional Republicans to endorse a reduction of government spending to offset large tax decreases to avoid the creation of large deficits and an increasing national debt.

Fiscal legacy

President Jimmy Carter’s last fiscal year budget ended with a $79.0 billion budget deficit (and a national debt of $907,701,000,000 [8] as of September 30, 1980), ending during the period of David Stockman’s and Ronald Reagan’s first year in office, on October 1, 1981.[9] The gross federal national debt had just increased to $1.0 trillion during October 1981 ($998 billion on 30 September 1981, up from $907.7 billion during the last full fiscal year of the Carter administration[8]).

By 30 September 1985, four and a half years into the Reagan administration and shortly after Stockman’s resignation from the OMB during August 1985, the gross federal debt was $1.8 trillion.[8] Stockman’s OMB work within the administration during 1981 until August 1985 was dedicated to negotiating with the Senate and House about the next fiscal year’s budget, executed later during the autumn of 1985, which resulted in the national debt becoming $2.1 trillion at fiscal year end 30 September 1986.[8] Reaganomics had just begun.

In 1981, Stockman received the Samuel S. Beard Award for Greatest Public Service by an Individual 35 Years or Under, an award given out annually by Jefferson Awards.[10]

Business career

After leaving government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the New York–based private equity company, the Blackstone Group.[11]:125–127 His record was mixed at Blackstone, with some very good investments, such as American Axle, but also failures, including Haynes International and Republic Technologies.[11]:144–147 During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman’s role in managing the investments he had developed,[11]:146 Stockman resigned from Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.[12]

On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman’s guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million of equity it had invested in the business.[13]

Collins & Aikman Corp.

During August 2003, Stockman became CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before Collins & Aikman filed for bankruptcy under Chapter 11 on May 17, 2005.

Criminal and civil charges

On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in “a scheme… to defraud [Collins & Aikman]’s investors, banks and creditors by manipulating C&A’s reported revenues and earnings.” The United States Securities and Exchange Commission also brought civil charges against Stockman related to actions that he performed while CEO of Collins & Aikman.[14] Stockman suffered a personal financial loss, over $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide.

Stockman said in a statement posted on his law firm’s website that the company’s end was the consequence of an industry decline, not due to fraud.[15] On January 9, 2009, the US Attorney’s Office announced that it did not intend to prosecute Stockman for this case.[16]

Web site

In March 2014 Stockman launched a web based daily periodical, David Stockman’s Contra Corner featuring both his own articles and those from leading contrarian thinkers on geopolitics, economics, and finance.

Personal life

Stockman lives in the Upper East Side of Manhattan in New York City.[12] He is married to Jennifer Blei Stockman and is the father of two children, Rachel and Victoria. Jennifer Blei Stockman is a chairwoman emerita of the Republican Majority for Choice,[17] and President of the Solomon R. Guggenheim Foundation Board of Trustees.[18] In 2013, Stockman signed an amicus brief to the Supreme Court in favor of same-sex marriage.[19]

Quotes

  • “[Social Security] has to be means-tested. And Medicare needs to be means-tested […] Let the Bush tax cuts expire. Let the capital gains go back to the same rate as ordinary income.”[20]
  • “The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility. They’re on an anti-tax jihad — one that benefits the prosperous classes.”[21]
  • “I invest in anything that Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries.”[22]
  • “Ninety-two percent of the wealth is owned by five percent of the people.” (Bloomberg TV 2013)
  • “[T]he Republican Party was hijacked by modern imperialists during the Reagan era. As a consequence, the conservative party cannot perform its natural function as watchdog of the public purse because it is constantly seeking legislative action to provision a vast war machine of invasion and occupation.” [23]

Bibliography

  • The Reagan Economic Plan, 1981
  • The Triumph of Politics: Why the Reagan Revolution Failed, Harper & Row, 1986, ISBN 9780060155605
  • The Great Deformation: The Corruption of Capitalism in America, PublicAffairs, 2013, ISBN 9781586489120
  • Trumped!: A Nation on the Brink of Ruin, and How to Bring it Back, 2016

References

  1. Jump up^ “LOSING THE BATTLES AND WINNING THE WAR”. Lexington Herald-Leader. April 7, 1985.
  2. Jump up^ Hunter, Marjorie (December 12, 1980). “Office of Management and Budget David Alan Stockman; Strong Support From Kemp Chosen by House Republicans Views on Economy”. The New York Times.
  3. Jump up^ “News65”. 19 June 1998.
  4. Jump up^ “The Tuscaloosa News – Google News Archive Search”.
  5. Jump up^ “The Montreal Gazette – Google News Archive Search”.
  6. Jump up^ Heibutzki, Ralph (2012-06-04). “Stockman Surprise Speaker at Lakeshore’s Graduation”. The Herald-Palladium. Retrieved 2012-06-04.
  7. ^ Jump up to:a b c William Greider (December 1981). “The Education of David Stockman”. The Atlantic Online.
  8. ^ Jump up to:a b c d Treasury Department’s Historical Debt Outstanding – Annual 1950 – 1999
  9. Jump up^ Office of Management and Budget Historical Tablessee Table 1.1 (Excel Spreadsheet)
  10. Jump up^ “Jefferson Awards”. Jefferson Awards.
  11. ^ Jump up to:a b c David Carey & John E. Morris (2001). King of Capital: The Remarkable Rise, Fall and Rise Again of Steve Schwarzman and Blackstone. Crown.
  12. ^ Jump up to:a b “Collins & Aikman seeks to emerge from bankruptcy,” Bloomberg News article by Jeff Bennett, published in the newspaper The Advocate of Stamford and (identical version, perhaps with changes by the local editor in the common business section for both newspapers) in the Greenwich Time on September 5, 2006, page A7, The Advocate
  13. Jump up^ David Carey and Lou Whiteman, “PE firms find buyer for Metaldyne,” The Deal, Sept. 1, 2006.
  14. Jump up^ Levin, Doris (29 March 2007). “Stockman Outsmarts Self in Detroit”. Bloomberg. Retrieved 19 September 2014.
  15. Jump up^ “Ex-Collins Chief David Stockman Charged With Fraud (Update10)”. Bloomberg. March 26, 2007. Retrieved 2010-08-02.
  16. Jump up^ “Fraud charges dropped against ex-Reagan aide David Stockman”. Chicago Tribune. 10 January 2009. Retrieved 19 September 2014.
  17. Jump up^ About Us Republican Majority for Choice
  18. Jump up^ Trustees, Solomon R. Guggenheim Foundation
  19. Jump up^ [1]
  20. Jump up^ “Why David Stockman Isn’t buying it”. CBS News. March 2, 2012.
  21. Jump up^ Dickinson, Tim (Nov 9, 2011). “How the GOP Became the Party of the Rich”. Rolling Stone. Retrieved 2011-11-10.
  22. Jump up^ David Stockman: I Invest In Anything Bernanke Can’t Destroy, John Carney, CNBC, October 6, 2010
  23. Jump up^ Stockman, David (2013). The Great Deformation — the corruption of capitalism in America. PublicAffairs. p. 688. ISBN 978-1586489120.

External links

United States House of Representatives
Preceded by
Edward Hutchinson
Member of the U.S. House of Representatives
from Michigan’s 4th congressional district

1977–1981
Succeeded by
Mark Siljander
Political offices
Preceded by
Jim McIntyre
Director of the Office of Management and Budget
1981–1985
Succeeded by
Jim Miller
Read Full Post | Make a Comment ( None so far )

American History–Panic of 1893–Videos

Posted on July 13, 2012. Filed under: American History, Blogroll, College, Communications, Economics, Employment, Federal Government, government spending, history, Inflation, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Raves, Regulations, Taxes, Technology, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , |

Murray Rothbard on Economic Recessions

The Panic of 1893 with Lawrence Reed

William Jennings Bryan’s Cross of Gold Speech 

Background Articles and Videos

American Monarchy

The Wizard of Oz and the 1896 Presidential Election

Excerpt from NPR program on the hypothesis that the book, The Wizard of Oz, was based on the 1896 presidential election and the controversy over gold vs. silver as a monetary standard.  It might be noted that the hypothesis is still a matter of controversy.

Murray Rothbard vs  Nationalization pt2 

Anarchism and Terrorism in the 1890s | by Jeff Riggenbach

Read Full Post | Make a Comment ( None so far )

Ron Paul: American Power Structure–Control Banks and Foreign Policy–Videos

Posted on December 23, 2011. Filed under: American History, Blogroll, College, Communications, Economics, Education, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, People, Philosophy, Politics, Raves, Strategy, Taxes, Video, War, Weapons, Wisdom | Tags: , , , , , |

Doug Wead explains Ron Paul’s foreign policy 12/20/11

Ron Paul: Foreign Policy & Israel

SA@The DC – Ron Paul’s Reaganesque Foreign Policy

SA@TheDC – “I Like Ron Paul Except on Foreign Policy”

SA@TheDC – Confronting American Empire

Ron Paul: Come Home America

The Attack of Ron Paul 

Ron Paul on CNN John King “Media is Worried” 

You Like Ron Paul, Except on Foreign Policy

“Will This Strategy Of Pretending Ron Paul Doesn’t Exist Work For The Republicans?” 

War Is Better Than Ron Paul, Say (Many) Progressives

American Spectator Dead Wrong on Ron Paul 

Background Articles and Videos

Ron Paul: American Power Structure Discussion in 1988 (Part 1 of 5)

Ron Paul: American Power Structure Discussion in 1988 (Part 2 of 5)

Ron Paul: American Power Structure Discussion in 1988 (Part 3 of 5)

Ron Paul: American Power Structure Discussion in 1988 (Part 4 of 5)

Ron Paul: American Power Structure Discussion in 1988 (Part 5 of 5)

Read Full Post | Make a Comment ( None so far )

Audit The Federal Reserve System–Videos

Posted on December 21, 2010. Filed under: Banking, Blogroll, Communications, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Raves, Taxes, Video, War, Wealth, Wisdom | Tags: , , , , |

Complete HR 1207 Hearing (1 of 15)

 

Complete HR 1207 Hearing (2 of 15)

 

Complete HR 1207 Hearing (3 of 15)

 

Complete HR 1207 Hearing (4 of 15)

 

Complete HR 1207 Hearing (5 of 15)

 

Complete HR 1207 Hearing (6 of 15)

 

Complete HR 1207 Hearing (7 of 15)

 

Complete HR 1207 Hearing (8 of 15)

 

Complete HR 1207 Hearing (9 of 15)

 

Complete HR 1207 Hearing (10 of 15)

 

Complete HR 1207 Hearing (11 of 15)

 

Complete HR 1207 Hearing (12 of 15)

 

Complete HR 1207 Hearing (13 of 15)

 

Complete HR 1207 Hearing (14 of 15)

 

Complete HR 1207 Hearing (15 of 15)

Read Full Post | Make a Comment ( None so far )

Milton Friedman On Monetary Policy–Videos

Posted on October 15, 2010. Filed under: Blogroll, College, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Resources, Security, Taxes, Video, Wisdom | Tags: , , , , , , , , |

Milton Friedman on Monetary Policy – 1/3

Milton Friedman on Monetary Policy – 2/3

Milton Friedman on Monetary Policy – 3/3

Related Posts On Pronk Palisades

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Richard Ebeling–America’s New Road to Serfdom and the Continuing Relevance of Austrian Economics –Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Milton Friedman–Economic Myths–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

Robert Higgs–The Complex Path of Ideological Change–Videos

Robert Higgs–The Great Depression and the Current Recession–Videos

Robert Higgs–Why Are Politicians Always Trying to Scare Us?–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Paul Krugman–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Liberal Fascism–Jonah Goldberg–Videos

Dan Mitchell–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Robert P. Murphy–Government Stimulus: Repeating the mistakes of the Great Depression–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Paul Craig Roberts–How The Economy Was Lost–The War Of The Worlds–Videos

Paul Craig Roberts–Peak Jobs–Videos

Llewellyn H. Rockwell, Jr–How Empires Bamboozle the Bourgeoisie–Videos

Murray Rothbard–Videos

Murray Rothbard–The American Economy and the End of Laissez-Faire: 1870 to World War II–Videos

Murray N. Rothbard–Introduction to Economics: A Private Seminar–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Econ Talk With Thomas Sowell–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Read Full Post | Make a Comment ( None so far )

Ron Paul–End The Fed–Videos

Posted on July 8, 2010. Filed under: Blogroll, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Homes, Investments, Law, liberty, Life, Links, media, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Taxes, Video, Wisdom | Tags: , , , , , , |

 


“…Synopsis

In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve.

Most people think of the Fed as an indispensable institution without which the country’s economy could not properly function. But in END THE FED, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don’t realize is that the Fed — created by the Morgans and Rockefellers at a private club off the coast of Georgia — is actually working against their own personal interests. Congressman Paul’s urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America’s economic policy for future generations. …”

http://search.barnesandnoble.com/End-the-Fed/Ron-Paul/e/9780446549196

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (1/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (2/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (3/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (4/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (5/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (6/7)

Ron Paul on BookTV: “End the Fed” – 9/18/2009 (7/7)

Background Articles and Videos

Peter Schiff Full Speech at NYC End the Fed Rally 4/25/09 Part 1/4

Peter Schiff Full Speech at NYC End the Fed Rally 4/25/09 Part 2/4

Peter Schiff Full Speech at NYC End the Fed Rally 4/25/09 Part 3/4

Peter Schiff Full Speech at NYC End the Fed Rally 4/25/09 Part 4/4

1/2) Ron Paul and Barney Frank: Cut Military Spending

2/2) Ron Paul and Barney Frank: Cut Military Spending

 

Related Posts On Pronk Palisades

Books

Fouad Ajami–The Foreigner’s Gift–Videos

Michael Barone–Our First Revolution–Videos

Philip Bobbitt–Terror and Consent–Videos

Patrick J. Buchanan–Churchill, Hitler, and The Unnecessary War–Videos

Ron Chernow–Alexander Hamilton–Videos

Thomas J. DiLorenzon–Hamilton’s Curse: How Jefferson’s Arch Enemy Betrayed the American Revolution – And What It Means for Americans Today–Videos

Joseph J. Ellis–His Excellency: George Washington–Videos

Bruce Feiler–Walking the Bible–Videos

Niall Ferguson–”The Ascent of Money–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Brigitte Gabriel–Because They Hate: A Survivor of Islamic Terror Warns America–Videos

Brigitte Gabriel–They Must Be Stopped: Why We Must Defeat Radical Islam and How We Can Do It –Videos

Jonah Goldberg–Liberal Fascism–Videos

David Goodwillie–American Subversive–A Novel

Victor Davis Hansen–A War Like No Other–Videos

Robert Higgs–Crisis and Leviathan–Videos

Peter Huber–The Bottomless Well–Videos

Donald Kagan–On The Origins Of War–Videos

George Lakoff–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

Michael Lewis–The Big Short: Inside the Doomsday Machine–Videos

Barack Obama Cartoon Concisely Communicates What’s Wrong With Progressive Radical Socialism–Why Do We Need Jobs For?–A Hayek and Mises Moment!

Andrew C. McCarthy–Willful Blindness–Videos

Melanie Phillips–Londonistan–Videos

Melanie Phillips–The World Turned Upside Down: The Global Battle over God, Truth, and Power–Video

James Piereson–Camelot and The Cultural Revolution–Videos

Paul Rahe–Soft Despotism, Democracy’s Drift: Montesquieu, Rousseau, Tocqueville, and the Modern Prospect–Videos

Ayn Rand–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Yaron Brook On Capitalism and Atlas Shrugged–Videos

Roy Spencer–The Great Global Warming Blunder: How Mother Nature Fooled the World’s Top Climate Scientists –Videos

Mark Steyn–America Alone: The End of The World As We Know It–Videos

John Stossel On Ayn Rand’s Atlas Shrugged

Daniel Suarez–Daemon and Freedom TM–Videos

Peter Robinson–Conversations With Authors–Videos

Murry Rothbard–For A New Liberty: The Libertarian Manifesto–Audio Book

Murray Rothbard– What Has Government Done to Our Money?–Videos

Amity Shlaes–The Forgotten Man–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell–Black Rednecks and White Liberals–The Missing Nobel Laureates–Videos

Thomas Sowell–Intellectuals and Society–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Marc Thiessen’s Courting Disaster–A Clear and Present Danger To The American People–President Barack Obama!

Thomas E. Woods Jr.–Meltdown–Videos

Read Full Post | Make a Comment ( None so far )

Inflation–Surprise–Surprise–It’s Back–An Inflationary Depression Arrives–The Obama Depression!

Posted on February 18, 2010. Filed under: Blogroll, Books, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Investments, Law, liberty, Life, Links, People, Philosophy, Politics, Rants, Raves, Resources, Security, Strategy, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , |

U.S. Debt Clock

http://www.usdebtclock.org/

http://www.federalbudget.com/  

   

M3, longer term chart

   

http://www.nowandfutures.com/key_stats.html    

   

Fed Raises Discount Rate – Peter Schiff – 02-18-2010

Meyer Expects Fed to Raise Funds Rate in Middle of 2011

 

McCullough Sees Compression in Treasury Yield Curve

Dollar Spikes, Euro Sinks Amid Fed’s Discount-Rate Move

The Discount Rate

Ron Paul v Ben Bernanke (1.29.2010)

Glenn Beck- February 18, 2010 (Part 3/4)

Glenn Beck- February 18, 2010 (Part 4/4)

Glenn Beck 20091209 Part 4/4

Inflation Nation The Movie Part 1/3 – Dollar Collapse Ft. Peter Schiff Ron Paul Faber Rogers.

Inflation Nation The Movie Part 2/3 – Dollar Collapse Ft. Peter Schiff Ron Paul Faber Rogers.

Inflation Nation The Movie Part 3/3 – Dollar Collapse Ft. Peter Schiff Ron Paul Faber Rogers.

The Federal Reserve explained.

RBS’s Tucci Discusses Fed Exit Strategy, Bank Industry: Video

 

Background Articles and Videos

   

Ron Paul’s State of the Republic Speech (1 of 3)

   

Ron Paul’s State of the Republic Speech (2 of 3)

Ron Paul’s State of the Republic Speech (3 of 3)

   

CONSUMER PRICE INDEX – JANUARY 2010

“…On a seasonally adjusted basis, the January Consumer Price Index for All Urban Consumers (CPI-U) 

rose 0.2 percent, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index 

increased 2.6 percent before seasonal adjustment. 

The seasonally adjusted increase in the all items index was due to a rise in the energy index. An increase 

in the gasoline index was the main factor, and the indexes for fuel oil and natural gas rose as well, 

though the electricity index declined. 

The index for all items less food and energy fell 0.1 percent in January. This decline was largely the 

result of decreases in the indexes for shelter, new vehicles, and airline fares. In contrast, the medical care 

index posted its largest increase since January 2008, and the index for used cars and trucks increased 

significantly for the sixth month in a row. 

The food index increased in January, with the food at home component posting its largest increase since 

September 2008. Sharp increases in the indexes for dairy and related products and for fruits and 

vegetables accounted for most of the increase. …” 

“…Food

 The food index rose 0.2 percent in January. The food at home index increased 0.4 percent, with four of

percent in January, but still has declined over the past 12 months. The index for fruits and vegetables  

increased 1.3 percent due to a 2.8 percent increase in the index for fresh fruits. The index for meats, 

poultry, fish, and eggs rose 0.4 percent and the index for nonalcoholic beverages advanced 0.2 percent. 

The indexes for cereals and bakery products declined in January, falling 0.5 percent, and the index for 

other food at home declined 0.3 percent. The index for food away from home increased 0.1 percent in 

January. Over the last 12 months, the food index has declined 0.4 percent with the food at home index 

down 2.0 percent and the index for food away from home up 1.6 percent.

Energy 

The energy index rose 2.8 percent in January, its ninth consecutive increase. The index for energy  

commodities increased 4.9 percent, with the gasoline index rising 4.4 percent. The index for household 

energy rose 0.5 percent in January. The fuel oil index increased 6.1 percent and the index for natural gas 

rose 3.5 percent, while the electricity index declined 1.1 percent. Over the past 12 months, the energy 

index has risen 19.1 percent, with the gasoline index up 51.3 percent but the index for household energy 

down 3.5 percent.

All itmes less food d and energy

The index for all items less food and energy declined 0.1 percent in January after rising 0.1 percent in 

December. The shelter index declined 0.5 percent. The index for lodging away from home fell 2.1 

percent, while the rent index was unchanged and the index for owners’ equivalent rent declined 0.1 

percent. The index for new vehicles fell 0.5 percent, its second consecutive decline, and the index for 

airline fares turned down in January, falling 2.5 percent after increasing in each of the past six months. 

The indexes for household furnishings and operations, for apparel, and for recreation all decreased 0.1 

percent in January. In contrast, the medical care index rose 0.5 percent. The index for medical care 

commodities rose 0.7 percent and the medical care services index advanced 0.5 percent. Also increasing 

was the index for used cars and trucks, which rose 1.5 percent in January and has increased 12.9 percent 

over the past six months. The index for all items less food and energy has risen 1.6 percent over the past 

12 months.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.6 percent over the last 12  

months to an index level of 216.687 (1982-84=100). For the month, the index increased 0.3 percent prior 

to seasonal adjustment. 

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.3 percent 

over the last 12 months to an index level of 212.568 (1982-84=100). For the month, the index increased 

0.4 percent prior to seasonal adjustment. …” 

http://www.bls.gov/news.release/pdf/cpi.pdf  

 
Current Consumer Price Index
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ave
2009 211.143 212.193 212.709 213.240 213.856 215.693 215.351 215.834 215.969 216.177 216.330 215.949 NA
2008 211.080 211.693 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 215.303
2007 202.416 203.499 205.352 206.686 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 207.342
2006 198.3 198.7 199.8 201.5 202.5 202.9 203.5 203.9 202.9 201.8 201.5 201.8 201.6
2005 190.7 191.8 193.3 194.6 194.4 194.5 195.4 196.4 198.8 199.2 197.6 196.8 195.3
2004 185.2 186.2 187.4 188.0 189.1 189.7 189.4 189.5 189.9 190.9 191.0 190.3 188.9
2003 181.7 183.1 184.2 183.8 183.5 183.7 183.9 184.6 185.2 185.0 184.5 184.3 183.96
2002 177.1 177.8 178.8 179.8 179.8 179.9 180.1 180.7 181.0 181.3 181.3 180.9 179.88
2001 175.1 175.8 176.2 176.9 177.7 178.0 177.5 177.5 178.3 177.7 177.4 176.7 177.07
2000 168.8 169.8 171.2 171.3 171.5 172.4 172.8 172.8 173.7 174.0 174.1 174.0 172.2
Get more Historical Data from InflationData.com
Consumer Price Index- All Urban Consumers- Not Seasonally Adjusted – (CPI-U) – Base Period : 1982-84=100
Note: NA means data has not been released yet. Effective January 2007 the BLS began Publishing the CPI to 3 decimal places.
However, InflationData.com is still the only place to get Inflation Rates calculated to 2 decimal places.
http://inflationdata.com/inflation/Consumer_Price_Index/CurrentCPI.asp

Producer Price Index News Release text

   

Transmission of material in this release is embargoed until                         USDL-10-0206
8:30 a.m. (EST), Thursday, February 18, 2010

Technical information:      (202) 691-7705  *  ppi-info@bls.gov  *  www.bls.gov/ppi
Media contact:              (202) 691-5902  *  PressOffice@bls.gov  

                            PRODUCER PRICE INDEXES - JANUARY 2010

The Producer Price Index for Finished Goods rose 1.4 percent in January, seasonally adjusted,
the U.S. Bureau of Labor Statistics reported today. This increase followed a 0.4-percent advance
in December and a 1.5-percent rise in November. In January, at the earlier stages of processing,
prices received by manufacturers of intermediate goods climbed 1.7 percent, and the crude goods
index jumped 9.6 percent. On an unadjusted basis, prices for finished goods moved up 4.6
percent for the 12 months ended January 2010, their third consecutive 12-month increase. (See
table A.)

http://www.bls.gov/news.release/ppi.nr0.htm

    

Exploding Inflation & Higher Interest Rates Coming

    

“…It’s been forecast by everyone but those beating the Obama Democratic drums. Even today, many pundits were saying that inflation wasn’t going to be much of a concern but then Thursday afternoon, Ben Bernanke & Boys raised the Discount Rate from .50% to .75%! This is the opening salvo of interest rates that might have to reach DOUBLE DIGITS to contain the massive printing of money that’s been going on.    

 

The Federal Reserve decided Thursday to boost the rate banks pay for emergency loans. The action is part of a broader move to pull back the extraordinary aid it provided to fight the worst financial and economic crisis since the 1930s. The move won’t directly affect borrowing costs for millions of Americans. But with the worst of the financial crisis over, it brings the Fed’s main crisis lending program closer to normal.    

The Fed decided to bump up the so-called “discount” lending rate by one-quarter point to 0.75 percent. The increase takes effect Friday.   

The central bank said the action should not be viewed as a signal that it will soon boost interest rates for consumers and businesses. Want to bet? Record-low borrowing costs near zero are still needed to foster the recovery, it said. The Fed repeated its pledge to keep interest rates at “exceptionally low” levels for an “extended period.” But with unemployment still near double digits, and demand for loans remains weak, many ordinary Americans and small businesses have found it difficult to borrow. …”   

http://www.articlesbase.com/economics-articles/exploding-inflation-amp-higher-interest-rates-coming-1876816.html   

    

Glenn Beck- February 18, 2010 (Part 1/4)

Glenn Beck- February 18, 2010 (Part 2/4)

Will Bernanke Spark Inflation?-Leslie Marshall-America’s Nightly Scoreboard 2-10-10

Related Posts Pronk Palisades

President Obama Wrecking The United States Economy By Massive Government Deficit Stimulus Spending: The Result: 30 Million Americans Desperately Seeking Full Time Jobs and Over 38 Million Turn To Food Stamps–Over 13 Million Are Children–The Obama Depression–No Hope, No Change! 

   

Food Stamps Hit Record Of 38,200,000 Americans Needing Assistance–Everbody Hates Food Stamps–Until You and Your Children Are Hungry

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

   

Presidential Oath Takers and Oath Breakers–Stopping The 20 Million Mexican Illegal Alien Invasion of the United States! 

 

Cloward Piven

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America 

   

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

   

Federal Reserve System

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

The Coming Inflation and A New Money Supply Backed By Real Estate?–Free Enterprise To The Rescue?

Richard Fisher–Inflation and Debt: The Interaction of Fiscal and Monetary Policy –Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos 

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

Murray Rothbard– What Has Government Done to Our Money?–Videos

    

Ludwig von Mises Institute

Tom Woods and Murry Rothbard on Keynesian Predictions vs. American History–Lessons President Obama Never Learned–Videos

Our Enemy, Inflation–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Murray Rothbard–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Thomas E. Woods, Jr.–Videos

   

Read Full Post | Make a Comment ( 2 so far )

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Posted on August 6, 2009. Filed under: Blogroll, Communications, Economics, Education, Employment, Energy, Fiscal Policy, Law, liberty, Monetary Policy, Taxes, Technology, Video | Tags: , , , , , , |

Updated September 9, 2015ben_bernanke

NEWSHOUR | Bernanke, On The Record, Part 1 | PBS

NEWSHOUR | Bernanke, On The Record, Part 2 | PBS

NEWSHOUR | Bernanke, On The Record, Part 3 | PBS

Central Banking after the Great Recession – A Conversation with Ben Bernanke

The Chairman Part 1

The Chairman Part 2

Quantitative Easing Explained

60 minutes Ben Bernank Interview December 5 2010

Monetary Policy and the Economy: A Conversation with Ben S. Bernanke, introduced by George W. Bush

How Does Monetary Policy Affect the U.S. Economy? Ben Bernanke & Elizabeth Warren (2013)

CNBC: Ron Paul’s question makes Ben Bernake’s voice quiver

Bernanke Speaks on Economy (Part 1) – Bloomberg

Bernanke Speaks on Economy (Part 2) – Bloomberg

Bernanke Speaks on Economy (Part 1) – Bloomberg

Bernanke Speaks on Economy (Part 2) – Bloomberg

Bernanke 1: Oversight , Financial Infrastructure, Boom Mentality, Great Depression, Recession 2010

Bernanke 2: Capitalism broadly construed has been enormous success, Mark-To-Market

Bernanke 3: Deflation, Inflation, Stimulus, G20 Focus on Global Reach of Crisis

Bernanke 4: Systemic Risk Authority, Stress Testing, Princeton vs Fed Res

Ben Bernanke Interview Part 1

Ben Bernanke Interview Part 2

Ben Bernanke Interview Part 3

Ben Bernanke Interview Part 4

Ben Bernanke Holds Q&A Session

Ben Bernanke at Princeton

The Fed Under Fire

DeMint Amendment to Audit Federal Reserve Blocked by Senate Leadership

Alan Grayson: “Which Foreigners Got the Fed’s $500,000,000,000?” Bernanke: “I Don’t Know.”

Peter Schiff calls Ben Bernanke a Liar

Ben Bernanke was Wrong

“Bernanke is an idiot” – Jim Rogers on Bloomberg 2008.01.18

Background Articles and Videos

 

Ben Bernanke

“…Ben Shalom Bernanke[1] (pronounced /bərˈnæŋki/ bər-NANG-kee) was born on December 13, 1953. He is the Chairman of the Board of Governors of the United States Federal Reserve. Bernanke succeeded Alan Greenspan on February 1, 2006. He was ranked the 4th most powerful person in the world in an annual ranking by Newsweek in 2008.[2]

…”

http://en.wikipedia.org/wiki/Ben_Bernanke

Milton Friedman: The Purpose of the Federal Reserve

Milton Friedman: The Purpose of the Federal Reserve

Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

Related Post On Pronk Palisades

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Mark-To-Market Accounting Rules Driving Banks To Bailouts–Change The Rules–Fed Chair Bernanke Explains!–Videos

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Obama Depression–Yes We Can!–Hyperinflation–Hope Not–Double Digit Inflation Likely in 2012!

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

Read Full Post | Make a Comment ( 18 so far )

The Federal Reserve System Expanded–Are You Kidding–How About Disbanded and Shut-Down For Incompetence–End The Fed–Videos

Posted on June 18, 2009. Filed under: Blogroll, Books, Economics, Employment, Energy, Foreign Policy, Homes, Investments, Law, liberty, Links, Politics, Quotations, Rants, Raves, Regulations, Talk Radio, Taxes, Video, Wisdom | Tags: , , , , , , , , , , , , |

Federal_Reserve_entrance 

 

“True, governments can reduce the rate of interest in the short run. They can issue  additional paper money.

They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity.

But such a boom is bound to collapse soon or late and bring about a depression.”

~Ludwig von Mises, Omnipotent Government, page 251

The Federal Reserve System is a private banking cartel that sets the price of money, serves as a lender of last resort, regulates member banks, and is the central bank of the United States responsible for the setting and the  implemenation of monetary policy, the expansion and contraction of the money supply with the goal of general price level stability.

The Federal Reserve fueled the housing bubble by expanding the money supply and keeping interest rates too low for too long.

The Federal Reserve failed to adequately regulate banks in particular large banks.

The Federal Reserve deserves a large portion  of the blame for the current financial crisis and recession.

Screw up big time and now the President proposes to expand their role.

Give me a break.

President Obama is bought and paid for by the large Wall Street financial institutions and the banking cartel and will do anything they want.

Thei Federal Reserve System’s  incompetence has destroyed trillions in wealth and transfered more wealth from the American people to those to big to fail in the form of bailouts–the crime of the century.

Terminate the tyranny of the banking cartel and abolish the central bank–the Federal Reserve System.

End The Fed! 

 

President Obama Announces Financial Regulation Reform

 

Dr Yaron Brook of the Ayn Rand Center for Individual Rights on Glenn Beck show June 18 2009

 

How Abolishing the Fed Would Change Everything

 

Obama’s Financial Overhaul

 

Experts discuss effect of Obama financial plan

 

Inside Look – Reforming Financial Regulation – Bloomberg

 

In-Depth Look – Obama Set To Overhaul Financial Regulation – Bloomberg

 

In-Depth Look – Obama’s Regulation Overhaul – Bloomberg

 

In-Depth Look – Impact Of Obama’s Regulation Reform On Banks – Bloomberg

 

Obama’s Regulation Reform

 

The Fed Has Increased The Monetary Base From $850 Billion To $2.2 Trillion!

 

Financial crisis: Gov’t regulation creating crony capitalism

 

Gingrich warns Obama moving towards political dictatorship

 

Greenspan: Why do we need a Central Bank?

 

Ron Paul on Federal Reserve, banking and economy

 

Bubble Economics

 

Peter Schiff Vlog Report 18 june 2009

 

June 2009: OBAMA GIVES THE FEDERAL RESERVE EVEN MORE POWER!

 

 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck009

 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck

 

Jim Rogers on CNBC: ABOLISH THE FEDERAL RESERVE!

 

Why the Meltdown Should Have Surprised No One

 

 

A Recipe for the Next Great Depression

 

End The Fed: Final Cut

 

“The interest of the capitalists are scarcely ever represented in monetary policy.”

~Ludwig von Mises, The Theory of Money and Credit, page 414

 

 Eccles Building Constitution  Ave.

Background Articles And Videos

Eccles Building Boardroom

 

Federal Reserve System

“…The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act (signed by Woodrow Wilson), it is a quasi-public and quasi-private (government entity with private components) banking system[1] that comprises (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) twelve regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. Since February 2006, Ben Bernanke has served as the Chairman of the Board of Governors of the Federal Reserve System. Donald Kohn is the current Vice Chairman (Term: June 2006–June 2010).

…”

http://en.wikipedia.org/wiki/Federal_Reserve_System

Board of Governors of the Federal Reserve System

http://www.federalreserve.gov/

Summary Of Obama Financial Regulation Plan

“…WASHINGTON -(Dow Jones)- A summary of President Barack Obama’s regulatory plan, “Financial Regulatory Reform: A New Foundation.”

For the regulation of financial firms, the proposal:

–Creates Financial Services Oversight Council, which would coordinate activities among regulators, replacing the President’s Working Group.

–Ensures that any financial firm big enough to pose a risk to the financial system would be heavily regulated by the Federal Reserve, including regular stress tests.

–Gives the Fed oversight over parent companies and all subsidiaries, including unregulated units and those based overseas.

–Says the Treasury will re-examine capital standards for banks and bank-holding companies.

–Tells regulators to issue guidelines on executive compensation, with the goal of aligning pay with long-term shareholder value, including a re-examination of the utility of golden parachutes.

–Creates a new bank agency, the National Bank Supervisor, and kills the Office of Thrift Supervision. The new agency will look over national banks, including federal branches and agencies of foreign banks.

–Forces industrial banks, non-bank financial firms and credit-card banks to become more traditional bank holding companies subject to federal oversight.

–Kills the SEC program that supervised Wall Street investment banks.

–Requires hedge funds, private-equity funds and venture-capital funds to register with the SEC, allowing the agency to collect data from the firms.

–Subjects hedge funds to new requirements in areas such as record keeping, disclosure and reporting. The oversight would include assets under management, borrowings, off-balance sheet exposures.

–Urges the SEC to give directors of money-market mutual funds the power to suspend redemptions, and take other action to strengthen regulation of money-market mutual funds to prevent runs.

–Beefs up oversight of insurance by creating an office within the Treasury to coordinate information and policy.

–Kicks off a process by which the Treasury and the Department of Housing and Urban Development will figure out the future of mortgage giants Fannie Mae (FNM), Freddie Mac (FRE) and the federal home-loan banks. …”

http://online.wsj.com/article/BT-CO-20090617-712735.html

 

Obama’s new financial regs – worse than we imagined

Rick Moran 

“…Hey kids! Let’s create a brand, spanking, new federal bureaucracy to protect consumers of mortgages, credit cards, and other financial instruments from their own stupidity!
  
That’s just one of the nanny state goodie being proposed by the Obama administration to address what they say were the causes of the financial meltdown.  
The plan seeks to overhaul the nation’s outdated system of financial regulations. Senior officials debated using a bulldozer to clear the way for fundamental reforms but decided instead to build within the shell of the existing system, offering what amounts to an architect’s blueprint for modernizing a creaky old building.
 
The White House makes its case for this approach in an 85-page white paper that describes the roots of the crisis. Gaps in regulation allowed companies to make loans many borrowers could not afford. Funding came from new kinds of investments that were poorly understood by regulators. Big firms paid employees massive bonuses, while setting aside little money to absorb potential losses. 


Surely some loans were made by criminals. The laws are already in place to deal with them. But how can you close a “gap” in the stupidity of the borrower? Never fear, the government is here!
 

The government would create a new agency to protect consumers of mortgages, credit cards and other financial products.


We welcome our ACORN overlords. …”
 
“…The problem, of course, is vastly expanding the mandate of the Federal Reserve – to give the quasi-independent agency regulatory power not answerable to Congress. If you’re a company and have a complaint about how the Fed is regulating your business, I wish you good luck and bon chance. You will get no satisfaction from our lawmakers. 

 http://www.americanthinker.com/blog/2009/06/obamas_new_financial_regs_wors.html

More Perspective – Geithner Calls for Financial Regulation Overhaul – Bloomberg

Another Look – Geithner’s Plan for Financial Overhaul – Bloomberg

The Founding of the Federal Reserve

 

The Future of Austrian Economics


 

 

How the Federal Reserve works. Part One

 

How the Federal Reserve works. Part Two

 

How the Federal Reserve works. Part Three

 

How the Federal Reserve works. Part Four

 

How the Federal Reserve works. Part Five

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 1/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 2/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 3/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 4/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 6/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 7/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 8/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 9/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 10/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 11/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 12/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 13/13

 

 

Related Post On Pronk Palisades

 

Yaron Brook–Videos

Peter Schiff–Videos

G. Edward Griffin–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

Liberal Fascism–Jonah Goldberg–Videos

Frederic Bastiat–The Law–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Ludwig von Mises–Videos

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

White House Memo: Carbon Dioxide Is Not A Pollutant and A Cap And Trade Program (Carbon Dioxide Tax) Serious Economic Impact –The Smoking Gun Video!

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

US Federal Government Fails Stress Test–Insolvent: Time Has Arrived For Downsizing–Departments and Subsidies To Be Eliminated!

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

The 12 Trillion–$12,000,000,000,000 Crime of The Century: The Decline and Fall of United States of America By Radical Socialist Spending–Look Before You Leap!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

 

 

This is a nightmare for those who value free, independent markets. And it might get worse yet. Interpreting these broad goals will be the job of federal regulators who may take the opportunity to impose even more draconian restrictions. …”

 

 

 

Some of those “causes,” according to this piece by Binyamin Appelbaum and David Cho of the Washington Post, are remarkable for the ideological basis on which they have been analyzed:

Read Full Post | Make a Comment ( None so far )

End The Fed–Videos

Posted on April 27, 2009. Filed under: Blogroll, Economics, Politics, Rants, Raves, Regulations, Resources, Security, Taxes, War | Tags: , , , |

 

 andrew_jackson

end_the_fed

Both the Tea Parties and End The Fed rallies continue across the country. 

The American people understand that the Fed by expanding the money supply will in time result in significantly rising prices or inflation.

Inflation is a hidden tax on all Americans.

End the Federal Reserve System now.

The failure of the Fed to regulate banks or depository institutions and an easy money policy resulted in the financial crisis and recession we are now experiencing.

How Abolishing the Fed Would Change Everything

 

 Inflation in Recent Monetary History

 

 

END THE FED

 

Money, Banking and the Federal Reserve

 

End the Fed

 

Peter Schiff on Fox BN End The FED Rally in New York 24 04 2009

 

 Raw Footage:End The Fed Rally NYC Peter Schiff Part I

 

Raw Footage:End The Fed Rally NYC Peter Schiff Part II

 

End The Fed Now !!!!!!!

  money

 

Join the Second American Revolution

 

we_the_people

 

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Millions of Rightwing Extremists To March On Washington D.C. Fair–Celebrating Independence Day Tea Parties and Chanting “Extremism in the defense of liberty is no vice!” 

 

Please Spread The Message of Liberty

liberty_bell1

 “Proclaim liberty throughout the land to all its inhabitants.”

 Let Freedom Ring 

Background Articles and Videos

 

End The Fed

http://www.endthefed.us/projects/repeal_the_fed/

 

Nationwide Crash: End the Fed

Posted on April 21st, 2009 by J. Nick Puglia in Upcoming Crashes

This Saturday, April 25, Federal Reserve Banks around the country will again come under siege from protestors.  Recall that this past November saw similar protests and included a memorable speech from Congressman Ron Paul at the Houston Rally.

Crasher Morgan Ashcom gave a nice summary of the DC Rally in November which featured several notable speakers including Gary Franchi from Restore the Republic and fellow Crasher Adam Kokesh from Iraq Veterans Against the War.

Ron Paul has 55 co-sponsors for HR 1207, which would require a complete audit of the Federal Reserve. A similar measure, S. 604, is in the Senate.

Now, more than any time in recent memory, people are becoming aware of the Fed. The Fed’s nature compels rational Americans to oppose it.

http://bureaucrash.com/2009/04/21/nationwide-crash-end-the-fed/

 

Crime of the Century – END THE FED!

 

 

The Founding of the Federal Reserve

 

 The Federal Reserve – Forgotten History

 

FEDERAL RESERVE – AMERICA’S GREATEST ROBBERY pt 1

 

FEDERAL RESERVE – AMERICA’S GREATEST ROBBERY pt 2

 

New Education Tools for End The Fed Rallies

http://www.jbs.org/index.php/freedom-campaign/4780

 

Related Posts On Pronk Palisades

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

Creature from Jekyll Island: The Federal Reserve System–Videos

Read Full Post | Make a Comment ( None so far )

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Posted on March 20, 2009. Filed under: Blogroll, Employment, Investments, Music, Politics, Rants, Raves, Resources, Taxes, Video | Tags: , , , , , , , , , , , |

Glenn Beck alerted the American people to what is happening with the U.S. Treasury and Federal Reserve:

Glenn Beck’s ‘One Thing’: 03-19-09

 

 

Federal Reserve Monetizes U.S. Debt While Americans Cry over AIG Bonuses. Glenn Beck

 

Peter Schiff 3/18/09 – Schiff Report Video Blog


 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck

 

Jim Rogers “America is out of control” demise of the dollar

 

Jim Rogers the Dollar is Doomed 23 Mar 2009

 

Voices of Freedom: Ron Paul, Peter Schiff, and Jim Rogers school Obama, Bush, Bernanke, and Paulson

 

LOL

It’s not AIG. It’s the GOV…

Fed to pump another $1 trillion into U.S. economy

“The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.

The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

The idea was to encourage more economic activity by lowering interest rates, including those on home loans, and to help the financial system as it struggles under the crushing weight of bad loans and poor investments.

Investors responded with surprise and enthusiasm. The Dow Jones industrial average, which had been down about 50 points just before the announcement, jumped immediately and ended the day up almost 91 points at 7,486.58. Yields on long-term Treasury bonds dropped markedly, and analysts predicted that interest rates on fixed-rate mortgages would soon drop below 5 percent. …”

“…Since last September, the Fed’s lending programs have roughly doubled the size of its balance sheet, to about $1.8 trillion, from $900 billion. The actions announced on Wednesday are likely to expand that to well over $3 trillion over the next year.

Despite a trickle of encouraging data in the last few weeks, Fed officials were clearly still worried and in no mood to cut back on their emergency efforts.

Fed policy makers sharply reduced their economic forecasts in January, predicting that the economy would continue to experience steep contractions for the first half of 2009, that unemployment could approach 9 percent by the end of the year and that there was at least a small risk of a drop in consumer prices like those that Japan experienced for nearly a decade.

The Fed rarely buys long-term government bonds. The last occasion was nearly 50 years ago under different economic circumstances when it tried to reduce long-term interest rates while allowing short term rates to rise.”

http://www.iht.com/articles/2009/03/18/business/fed.php

 

Monetary Policy Rebooted

Francis Cianfrocca

“…The Federal Reserve announced a momentous shift in policy yesterday. Its import was easy to miss because, as always with the Fed, it was written in a jargon only superficially resembling English. But its intention is to take actions that will deeply shift the policy landscape, probably to a much greater extent than Congress’s various stimulus plans.

The Fed announced an American version of what has been called “quantitative easing,” or QE. The Japanese have done this before, and the British got into it a few weeks ago. You can think of it, with no loss of accuracy, as inflation.

QE is what monetary authorities resort to when policy interest rates go to zero, which is where they are now. If you can’t reduce the price of money any further, you simply increase the amount of money. The Fed will be monetizing (purchasing) about $750 billion in mortgage-backed securities and about $300 billion in straight Treasury debt.

They’ve purchased mortgage paper before (last December), but the Treasury debt purchases are new. And the bond market’s reaction to the news was electric, as interest rates fell sharply, particularly for the 10-year note. Inflation-sensitive commodities like oil, gold and copper also shot up 5% or more in price, and are holding those gains this morning. The news is also a mild positive for the stock market, which can benefit from inflation.

What is Fed Chairman Ben Bernanke really trying to do? He wants to unfreeze the “credit crunch” that is making it too expensive or even impossible for U.S. consumers and businesses to borrow money, which was the trigger for the current recession. The Fed directly controls only the shortest-term interest rates. But consumer purchases (including mortgages) and business investments are sensitive to longer-term interest rates. QE is the Fed’s way of trying to reduce real interest rates in the 2 to 10-year range of the spectrum.

This is also the biggest experiment in monetary policy in history. Milton Friedman is known for having explained the genesis of the Great Depression in monetary terms. Bernanke, a close student of the early Depression, is determined to prevent the wicked asset deflation of 1930-32 that ruined so many lives. At what cost? Well, the Fed’s balance sheet just grew by $1.15 trillion: it’s now 50% bigger than it was a day ago. That’s a scary amount of inflation. …”

“…What no one really knows yet is the exact linkage between the formation of new money, and the formation of new credit. Bernanke and his Fed are gambling that a giant pulse of monetary inflation will reignite private lending. We can only hope they’ve pointed their fire hose at the right problem.

For every lender, there’s a borrower. The Fed will succeed if the problem in credit markets is the reluctance of lenders to write new loans. But if the problem turns out to be a lack of demand for credit, then all we’ll get out of this is stagflation.”

http://www.commentarymagazine.com/blogs/index.php/cianfrocca/59211 

I will add more to this post Monday.

I need to do some more research.

Consider this a heads-up!

This is not good for it will devalue the dollar and could lead to inflation if the Federal Reserve does not quickly reduce the money supply and raise interest rates once inflation rears it head starting in 2011.

This is truly a dangerous game and if your timing is off will lead to hyperinflation.

The Federal Reserve Chairman understands this but is currently more concerned about deflation and a even worse recession in terms of duration from two to four years and unemployment rates exceeding 10%.

Both fiscal policy and monetary policy are scaring people and this in and of itself is enough to prolong the return of consumer and business confidence.

President Obama is proving once again he is One Big Awful Mistake America.

President Obama neither understand nor really cares about the financial crisis and his only concern is the establishment of his radical socialist agenda in the United States by remaining in power.

The President will say and do anything to make this a reality.

While the Fed Chairman is on the side of free markets, it is an open question whether monetary policy alone can counter the fiscal irresponsibility of the Obama administration.–massively huge deficits and stimulus bills. Instead I am afraid the Federal Reserve is prepared to enable socialism in America by purchasing US Treasury bond and notes used to finance the massive deficits for the next four or eight years. This is madness for it is printing money and will result in hyperinflation. Speculation is already starting again in oil, where actual demand for oil has declined. The investment banks are at it again! Enough is enough. Are there an adults in Washington D.C. or just mad fools?

Also, the potential for the biggest tax increase in US history in the form of dramatic increases in the general price level will happen in 2011 on top of Obama’s own huge tax increase.

Inflation rates exceeding 10% would hurt low income and those on a fixed income the most and would wipe out any tax decreases obtained from lower tax rates or earned income credits.

This would be an economic disaster of the first order and would result in a jobless recovery and stagflation, high unemployment rates (over 10%)  and high inflation rates (over 10%)–a repeat but only worse of the Carter years–call it Obama’s 1010 Depression!

Join the second American Revolution before it is too late.

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! Revised and Updated

Beck Speaks to the 21st Century Thomas Paine

Beck found and interviewed the creator of the hugely successful viral video “The Second American Revolution.” It is a must-see, my friends.

 

Background Articles and Videos

 

Dallas Fed’s Fisher: The Fed Should Staunchly Resist Monetizing the Debt

Richard Fisher, president of the Dallas Fed, says “from time immemorial any central banker worth his or her salt has been genetically unable to tolerate inflation.” That means, among other things, never, ever voting to monetize the debt: …” 

http://economistsview.typepad.com/economistsview/2005/10/dallas_feds_fis.html

 

Monetization

Monetization is the process of converting or establishing something into legal tender. It usually refers to the printing of banknotes by central banks, but things such as gold, diamonds and emeralds, and art can also be monetized by Standby Letter of Credit brokers. Even intrinsically worthless items can be made into money, as long as they are difficult to make or acquire. Monetization may also refer to exchanging securities for currency, selling a possession, charging for something that used to be free or making money on goods or services that were previously unprofitable.

Debt monetization occurs when a nation’s central bank (e.g. the Federal Reserve in the United States) buys government bonds. [1] If a government’s expenses exceed its tax revenue, if nothing is done the government will draw resources (capital) out of the private market. Since there is a limited amount of capital available in the market, there will be less available to fund business growth if the government takes out a substantial portion. If the debt is monetized, the capital is thereby returned to the private market.

Excessive debt monetization can be inflationary, which in some eyes can be seen as a flat tax because the ultimate result is that the government acquires additional funds and the currency decreases in value.[citation needed] However, monetization helps the government temporarily to meet its short term commitments at the beginning.[citation needed] On the other hand, some degree of debt monetization is useful for increasing the money supply, to keep up with increased production or economic growth.

Hence it is a primary tool of the Federal Reserve in managing interest rates. Excessive debt monetization has the drawback of increasing the twin deficit. That is, when government financing is increased, along with interest rates and foreign capital, the trade deficit also goes up along with the budget deficit.[citation needed]

http://en.wikipedia.org/wiki/Monetize

The David Copperfield School of Economic Recovery

By Michelle Malkin  

“…The Federal Reserve performed another empty magic trick yesterday to the tune of $1 trillion.

While the Kabuki Theater of AIG outrage played out in Washington, the Fed was pulling its David Copperfield School of Economic Recovery routine. They’ll be printing up a trillion buck and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government. Voila:

The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.

The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

The illusion melts: …”

http://michellemalkin.com/2009/03/19/the-david-copperfield-school-of-economic-recovery/

 

The David Copperfield School of Economic Recovery, Pt. II

By Michelle Malkin  

Now what?

Last week, the Obama administration brought us a $1 trillion Federal Reserve magic trick hatched by the David Copperfield School of Economic Recovery — printing up a trillion bucks and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government.

Today, hapless, truth-challenged tax cheat Treasury Secretary Tim Geithner officially unveils another $1 trillion magic trick. Instead of letting failed banks fail, we’ll have another desperately massive and massively desperate attempt to prop them up through a “public private partnership investment program.” Eager to get the still-unfolding Bonus-gate behind them (see “Geithner Aides Worked With AIG for Months on Bonuses” and “AIG paid over $218 million in bonus payments”), Team Obama leaked details of the plan over the weekend. World stock markets were up this morning, full of audaciously blind hope.

Geithner ’s WSJ op-ed this morning lays out some of the details he failed to deliver when he first unveiled his non-plan plan a month ago: …”

http://michellemalkin.com/2009/03/23/the-david-copperfield-school-of-economic-recovery-pt-ii/

 

The Chairman Part 1

http://www.youtube.com/watch?v=odPfHY4ekHA&feature=related 

The Chairman Part 2 

http://www.youtube.com/watch?v=e0zY8o0laZY

Ron Paul: Quit bankrupting this country & MONITOR THE FEDERAL RESERVE

 

Market 2 Market- FX: Helicopter Ben
 

 

Ron Paul tells Bernanke you can’t reinflate the bubble 2-25-09

 

CNBC: Ron Paul’s question makes Ben Bernake’s voice quiver

09

 

Money, Banking & The Federal Reserve ( part 1 of 4 )

 

Money, Banking & The Federal Reserve ( part 2 of 4 )

 

Money, Banking & The Federal Reserve ( part 3 of 4 )

 

Money, Banking & The Federal Reserve ( part 4 of 4 )


 

Bernanke Speaks on Economy (Part 1) – Bloomberg

 

Bernanke Speaks on Economy (Part 2) – Bloomberg

 

Related Posts On Pronk Palisades

Geithner’s Government Gamble–Vampire Vulture Ventures–Heads The Vermin Win–Tails The American People Lose!

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

Mark-To-Market Accounting Rules Driving Banks To Bailouts–Change The Rules–Fed Chair Bernanke Explains!–Videos

Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! Revised and Updated

Read Full Post | Make a Comment ( 7 so far )

Liked it here?
Why not try sites on the blogroll...