We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
TGR: What should the role of the Federal Reserve be?
DS: To get out of the way and not act like it is the central monetary planner of a $15 trillion economy. It cannot and should not be done.
The Fed is destroying the capital market by pegging and manipulating the price of money and debt capital. Interest rates signal nothing anymore because they are zero. The yield curve signals nothing anymore because it is totally manipulated by the Fed. The very idea of “Operation Twist” is an abomination.
In the meantime learn one truth: in a fiat economy government spending = taxation. The government IS NOT BORROWING. What is bandied about as US Treasury debt is fictive. Under no conditions will the lending community get back in real terms that which they have lent.
The shortfall in Federal receipts is a TAX in the capital markets.
This is but a part of Hyperinflation -- which equals Money Printing.
When the private sector creates money ( by borrowing ) -- you have inflation.
When the public sector creates money ( by printing ) -- you have hyperinflation.
BOTH are capable of exponential price moves in real goods. However, politicized spending, historically, has moved into hyperbolic price moves -- hence the name.
Do NOT be fooled -- they are completely independent phenomena.
Hyperinflation does NOT require drastic price movement -- that is a FINAL STAGE, blow-off phase. The hyperinflation, however, has been going on -- from the first moment the government started printing money to cover its spending impulse.
The reason that hyperinflation is so destructive is that politicians are THE furthest removed from reality of any man on Earth. They don't have to hide in a bunker to prove it.
Take a look at the crazy symbolism evidenced by Putin during his self-coronation. You can't top it for the surreal.
Historically, hyperinflation is a product of wartime desperation: both the Continental Dollar and the Confederate Dollar were hyperinflated into oblivion.
At this time, half of all spending is via printed money.
The result is that ANYONE with dollar denominated assets is paying an ASSET TAX at rates too horrible to contemplate.
Naturally, the MSM (D) has a stream of talking heads spewing happyspeak to the proles.
--the last few minutes --where the investigator breaks the news that the SEC and Fed both were officing inside LEH during the year of its bust-out.
Search LEH LA Times --a couple weeks ago LAT broke a story about the huge $700mm payouts to LEH top execs that last year.
Of course you remember the AIG bonus scandal --like LEH, the final deals were made before the 'blow off' phase --and were huge on both ends of the con --the AIG set-up and the LEH blow-off.
And how best to indemnify LEH perps against criminal prosecutions? Why, put the govt inside the company during the crime, and the prosecution ends up being the defendant --both are the USG --oops, no arrests here!
Soros attended to the same problem --indemnification --by sacrificing a huge 2008 LEH investment (iirc hit $100mm in August, the month before the Bank Panic and LEH bankruptcy), which allowed him to write a rare (Forbes? or FT? i forget --but it's all searchable) article a month or three later lamenting his sudden leap into what he'd been steering clear of. And also the buy-in no doubt put him on the scam steering crew for the crucial phase, so he could evil eye Fuld and others who might waver.
And of course his long loss would've certainly made up short from some offshore identity and address. He leaves no nickel on the table.
It sure made things easy for Obama election, Obamacare, stimulus, and the global world-historical ending of the Dollar-reserve currency.
Wonder how the plan is coming along? The 2010 election threw 'em a loop. But the debt continues apace.
Feeblemind, that's making my head swim. Don't want to believe it, but the author's archive is right there, and i scrolled thru, read some bits and pieces trying to see if he's a headcase or not.
Well, he's not (i read his entire two-part report on the 'hijack' of the Arctic Sea) --he's more like JR Nyquist --looking into the dark corners and trying to connect dots. One can discount half of it, but not the other half --and if he's at least that reputable --when he is using open source mtrl --then why automatically throw out that half that appears speculation?
But surely DHS would support middle America? Maybe the plans are just wargames? i guess we'll find out. Meantime, take a look at this, from the admittedly dubious prison planet site, it analyzes, comments on, what searchably purports to be a Army doc:
Obviously those actions have nothing to do with 'fighting terror". I can only conclude they are training exercises under the guise of fighting terror.
This kind of stuff isn't supposed to happen here, and yet it is, which leads us to you link.
Our perception of what we believe America is, makes us want to reject rules for re-education camps out of hand. It is contrary to everything we learned growing up. It can't be. To believe would be to don the tinfoil hat. And yet the juggernaut of totalitarianism continues all around us. Government agencies are out of control. We see all the anecdotal evidence of our rulers abusing private citizens so it really makes you wonder about things like re-education camps.
Dunno Buddy. I can't embrace this stuff wholeheartedly, but I can't totally discount it either.