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MUST WATCH the Continental Convention 2009!!! Increadible! I was crying while watching the opening ceremonies. And the speaches are great. Not all the speakers are great speakers, but the information is fantastic. All the representatives were elected by their States. It's at www.cc2009.us Strangely...
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Does the viability of the Federal Reserve fall along the lines of the Economic Calculation problem? Are there any authors who have covered this concept?
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Hello Lilburne, Thanks for responding. Let me take a satb as answering your questions: "No. Let's say you borrow that money from me. Over the course of the year, you do work for me for which I offer you a $60 salary. On the last day of the year, I don't pay you the $60 in gold; I just deduct...
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George Orwell’s classic 1984 describes “doublethink” as holding two contradictory beliefs simultaneously and accepting both. To do so denies the existence of objective reality. A good example is the belief in economic theories that contradict mathematical facts. Both Austrian and Keynesian...
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How The Federal Reserve Bought The Economics Profession Great read. Obviously, it is easy to compromise journals, academics and intellectuals, if you simply become their largest employer, and you can afford to do that, because you have monopoly power in the market and an army with big guns to back you...
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In WaPo. According to this explanation, the "savings glut" was due to loose monetary policies that caused trade deficits and flooded China with additional reserves of newly printed money. This, in turn, fueled the bubble which caused the recent economic crisis.
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Revealing graph of changes in the C.P.I. since the inception of the Federal Reserve System here.
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In The Case Against the Fed, Murray Rothbard has this to say on page 143: "It should be easy to see why the Fed pays for its assets with a check on itself rather than by printing Federal Reserve Notes. Only by using checks can it expand the money supply by ten-fold; it is the Fed’s demand...
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I've seen the charts which show how the Fed has pumped incredible amounts of money into the banks/economy/whatever. Given this, why are we not seeing price inflation? Is it because the banks are holding on to the money and not letting it all out? Additionally, assuming that the govt continues their...
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is there a figure that would indicate how often and how much money and or credit the federal reserve has created in order to keep banks afloat? would a model of bank that has never needed the federal reserve for bailing out have been the norm?