The Federal Reserve is owned by “Member Banks” that have now merged into huge brokerage, investment firms; many deemed “Too big to be allowed to fail”. G. Edward Griffin explains: “The Federal Reserve is a cartel- it’s a banking cartel. And like all cartels, it only has one purpose – and that is to serve the benefit of the members […]
» Read more“Today Congress is constantly besieged by minority groups seeking benefits from the public treasury. Often these groups control enough votes in many Congressional districts to change the outcome of elections. And so, Congressmen find it difficult to persuade themselves not to give in to pressure groups. With no bad immediate consequence, it becomes expedient to accede to a spending demand. […]
» Read moreLas Vegas – the gambling capital of the world. Nevada heavily regulates the casinos; requiring a certain percentage paid back to the gamblers. They pour billions into their posh establishments, enticing customers into their casinos and make huge profits – legally. If the public felt the casinos are rigged, they would lose customers, jobs, and billions in tax revenue. “‘There’s […]
» Read moreWhen I finished writing “Whistling Past The Graveyard”, I was furious. The Federal Reserve prints money at will. Theoretically, congress oversees the Fed – the Fed oversees the banking system, and they have our best interest at heart. While both feign good intentions, in practice they are lining their pockets at the expense of Main Street America. Fed Chairman Powell […]
» Read moreFed Chairman Jerome Powell’s recent remarks really infuriated me. He is “Whistling Past The Graveyard”, again trying to deceive the public. Wolf Richter shares some of his recent remarks: “Inflation has come in above expectations over the past few months.” “The expectation is that high inflation readings will start to abate.” “We don’t in any way dismiss the chance that […]
» Read morePundit Bill Bonner’s article, “Money-Printing Means Inflation for the U.S. Economy”, concludes: “It’s inflate or die. And if anyone gets in the way of inflation… the ‘active shooters’ – in both the private sector and the public sector – start gunning for them. Last week, Treasury Secretary Janet Yellen came under fire for saying she might have to raise interest […]
» Read moreAs a youngster, every Saturday we would head to the movies for a double feature of cowboy movies; all for the price of a quarter. Sandwiched between the storyline we saw scenes of cowboys rounding up cattle, herding them toward parts unknown. That was before McDonald’s, and we never saw them marching to the slaughterhouse. We are being herded This […]
» Read moreI recently interviewed Chuck Butler about JP Morgan’s recent admission to five felony counts and $1 billion fine. I asked, “When Is It Going To End?” Right after finishing the interview, ZeroHedge reported: “Goldman Sachs is reportedly on the cusp of settling one of the biggest criminal cases involving a Wall Street bank since the financial crisis: According to a […]
» Read moreAnyone remember when our money was backed by gold? Top of the dollar bill said “Silver certificate”? Today our bills say, “Federal Reserve Note”; called fiat currency. Fiat currency is government IOU’s (political promises). The value of fiat money is based on supply, demand and faith in the issuing government. Adam Smith said, “All money is a matter of belief.” […]
» Read moreAt the local convenience store, my wife Jo handed the clerk a $5 bill and waited for her change; finally asking for it. The clerk said, “We have a coin shortage. We have to round things to the nearest dollar.” Screw that! She dug in her purse, cobbled together the correct change and demanded the clerk give her a dollar […]
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