Tag: Federal Reserve - Page 2

The Fed is Destroying Your Savings

July 15, 2024September 23, 2015 Steve MacDonald

Steve Lonegan, Director of Monetary Policy for American Principles in Action and head of the Fix The Dollar Project, gives us a monetary history of the US and explains how the Fed is destroying your savings and why you need to do something about it.

Just in time for the national election: This needs to go VIRAL

November 17, 2024July 16, 2012 Steve MacDonald

Sign up to stay updated about a new film by the incomparable Tom Woods of the Ludwig Von Mises Institute and author of “Meltdown”. Get an idea of what it’s all about: http://youtu.be/SH0VMYF190s

You’re going to want to watch this….

September 26, 2018April 10, 2012 Steve MacDonald

A movie with a revolutionary, true, good, strong message, for a change. From Silver Circle, the Movie: “The problems of the world lay heavy on many shoulders. We hope to bring even just a tiny sliver of hope. Knowledge is power and we are spreading plenty of it…. ” [jwplayer mediaid=”21187″]

So, Obama knew that the financial meltdown was NOT just Wall Street’s fault???

September 26, 2018January 24, 2012 Skip

Conventional wisdom / street knowledge is that Wall Street and their crazy and risky financial instruments was not solely to blame for the financial crash from which we are still picking our way out of (even as Obama keeps erecting more and more obstacles in that pathway). Over at The EnterpriseBlog, James Pethokoukis (a highly respected economics journalist) plucks 11 “stunning revelations” from a formerly secret document that Larry Summers (former head of Obama’s economic advisors, and was advising him during the campaign). The 11th was what caught my eye (James takeaway followed by an actual quote from the Summer’s document):

11. The financial crisis wasn’t just Wall Street’s fault.

A significant cause of the current crisis lies in the failure of regulators to exercise vigorously the authority they already have.

Not to take away any shame or malfeasance by Wall Street, this is a stunning admission from someone who became “the Obama Administration’s economic insider”. This statement can also be placed not only on the Wall Street regulators but also the two GSEs (Government Sponsored Entities) Fannie Mae and Freddie Mac. Obama’s main thrust has been to advocate and regulate more rules by government over the financial sector. Yet, little has been admitted by the Obama Administration (and other Democrats like Barney Frank) in terms of Government malfeasance. But then again, to do so would undermine Obama’s own philosophy and core belief – how could the Progressive State be allowed to “guide” and regulate the lives of all of us if it itself cannot regulate itself? What is the sense of adding more and more regulations if the State (e.g., the Feds) could not even credibly enforce what was already on the books? If that last question holds true, Obama and the rest of his pathetic pack of Progressives have only a chasm of platitudes instead of a valid political philosophy. If true, on what basis can they credibly state:

“trade your individual freedom for our equality enforced upon all – after all, we know better!”

Quick Summaries after the jump:

Ben Bernanke Tossed Under The Bus

September 26, 2018November 19, 2010 Steve MacDonald

If you are unsure why government is too big and why the Fed must be audited and then dismantled –You Have To Watch This. (H/T Big Government.com)

Carol Is Still Batting .980

September 26, 2018July 2, 2010 Steve MacDonald

Carol “98%” Shea Porter surprised several people when she offered to co-sponsor HR 1207, the Audit the Fed Resolution. The bill, sponsored by Republican Ron Paul would require an audit of the not so independent “independent” central bank.

The hobgoblins who run the Fed were not interested in an audit for obvious reasons. As the manipulators of monetary policy they were and are responsible for trying to manage the boom bust cycle or more appropriately (and more likely) causing it. But they were still part of the government, so for Carol to step up and make even a token gesture was unexpected.

Or was it?

Drop Dead Fed

September 26, 2018June 30, 2010 Steve MacDonald

In the most recent issue of National Review Gary Wolfram, Professors of Economics and Public Policy at Hillsdale College wrote this in regard to Mises and Hayek’s Austrian business-cycle theory.

""This theory emphasizes the role of the interest rate in bringing together the plans of producers and consumers. The interest rate is the price of loanable funds — in effect, the price of money — and, like the price of any good or service, it gives producers information about consumers’ behavior and the actions of other producers. For example, if consumers wish to save — to put their money in banks, which lend it out — they will increase the supply of loanable funds, putting downward pressure on the interest rate. Producers can then borrow that money cheaply and invest in capital goods such as machinery, factories, and housing — which they can use to create goods for consumers to buy in the future with the money they have saved. Thus do producers and consumers arrive at the equilibrium interest rate, which matches producers’ plans to invest in capital goods with consumers’ desire to save.