Elizabeth Warren blames lack of regulation for the latest banking crisis. But she believes that the easy money regime that is really causing the crisis is perfectly fine.
Money proper is not artifice. It is a physical "thing" of value, acquired through labor and emerging out of the needs of individuals, who through voluntary exchanges determine its value.
Like the arsonist who then heroically fights the fire he set, the Fed is increasing its efforts to bail out banks both at home and abroad. This does not end well.
Suppose an addict had the ability to magically create, ex nihilo, his own stimulating drug, as fractional reserve banks can do with money and credit. Would you expect moderation?
Central banks usually don't admit their guilt in the destruction of money, but the Bank of England unwittingly comes clean.
Keynesian economists claim that cutting costs in a business slowdown is counterproductive. As usual, the Keynesians have it backward.
Federal authorities want us to believe that by bailing out Silicon Valley Bank, they have prevented a financial crisis. Instead, we will have a crisis with bailouts.
Central banks usually don't admit their guilt in the destruction of money, but the Bank of England unwittingly comes clean.
With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.
Get beyond the PhDs running the Federal Reserve or the way people treat the Fed with deference. In the end, it is nothing but a legal counterfeiting ring.
