Central Banking
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“Dallas Fed Chief Not Keen on Buying Long-term Securities”
“Fisher said a more pressing problem is that recent fiscal and regulatory policies are not necessarily conducive to economic growth – a message he hears from many business contacts. “The prevailing sentiment is that politicians and officials who craft and enforce taxes and rules have been doing so in a capricious manner that makes long-term…
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“Ron Paul: Financial Reform Solved Nothing”
“Just pretending that we can continue with the same monetary policy, the same Federal Reserve system, and all these guarantees sort of concedes that we’re going to have another bubble. If we have regulations and plans for how we distribute these assets later on, it just says that nothing has changed. That’s another reason why…
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“Fed leaders had varied views on August policy action”
“Federal Reserve officials were divided at their Aug. 10 meeting over whether they should resume purchases of Treasury bonds and what impact the move could have on the nation’s economy, according to minutes released Tuesday. In the end, the Fed’s policymaking committee elected to reinvest money from maturing mortgage securities in government bonds by a…
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The Contemporary Relevance of Robert Taft
“For a conference this coming weekend, I’m reading a fascinating series of radio debates between Senator Robert Taft and Representative T. V. Smith that took place during the late 1930s. In the final installment, Taft is summing up his concerns about the New Deal. At one point he says the following, much of which could…
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Ron Paul Questions Whether There’s Gold at Fort Knox
“Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it’s “a possibility” that there might not actually be any gold in the vaults of Fort Knox or the…
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The Recovery is Artificial
“The stimulus is causing an artificial rebound in the economy that cannot be maintained, says Jerry Jordan, former president of the Federal Reserve Bank of Cleveland.” Watch it here. “The Recovery is Artificial” Jerry Jordan MoneyShow.com, August 19, 2010.
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“Fed Off’ls at Jackson Hole Discuss Tough Policy Challenges”
“Federal Reserve policymakers and many of the world’s other top central bankers are gathering Thursday for their annual retreat and symposium in the shadow of the Grand Tetons. They are also meeting in the shadow of looming economic and financial problems, which seem to be defying the stimulative efforts of both monetary and fiscal policy.…
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“Fed Asks Court to Stay Discount-Window Ruling”
“The Federal Reserve has asked a U.S. appeals court to stay a ruling that it must disclose documents regarding borrowing from its discount window and other “last resort” lending programs during the financial crisis. “The stay is necessary to permit the board to consult with the Department of Justice regarding an appeal to the Supreme…
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Is There a Government Bond Bubble?
“YES, there is a government bond bubble. And it’s huge. Uncle Sam and his counterparts in the EU and Japan are broke and are, almost surely, going to print vast quantities of money to cover their enormous spending obligations. The printing presses are already working full time. The Fed, for example, has increased the monetary…
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Why QE Could Trigger a Collapse of the Dollar
“A week ago, the Federal Reserve initiated a new program of “quantitative easing” (QE), with the Fed purchasing U.S. Treasury securities and paying for those securities by creating billions of dollars in new monetary base. Treasury bond prices surged on the action. With the U.S. economy predictably weakening, this second round of quantitative easing appears…
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“Dallas Fed Chief Not Keen on Buying Long-term Securities”
“Fisher said a more pressing problem is that recent fiscal and regulatory policies are not necessarily conducive to economic growth – a message he hears from many business contacts. “The prevailing sentiment is that politicians and officials who craft and enforce taxes and rules have been doing so in a capricious manner that makes long-term…
-
“Ron Paul: Financial Reform Solved Nothing”
“Just pretending that we can continue with the same monetary policy, the same Federal Reserve system, and all these guarantees sort of concedes that we’re going to have another bubble. If we have regulations and plans for how we distribute these assets later on, it just says that nothing has changed. That’s another reason why…
-
“Fed leaders had varied views on August policy action”
“Federal Reserve officials were divided at their Aug. 10 meeting over whether they should resume purchases of Treasury bonds and what impact the move could have on the nation’s economy, according to minutes released Tuesday. In the end, the Fed’s policymaking committee elected to reinvest money from maturing mortgage securities in government bonds by a…
-
The Contemporary Relevance of Robert Taft
“For a conference this coming weekend, I’m reading a fascinating series of radio debates between Senator Robert Taft and Representative T. V. Smith that took place during the late 1930s. In the final installment, Taft is summing up his concerns about the New Deal. At one point he says the following, much of which could…
-
Ron Paul Questions Whether There’s Gold at Fort Knox
“Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it’s “a possibility” that there might not actually be any gold in the vaults of Fort Knox or the…
-
The Recovery is Artificial
“The stimulus is causing an artificial rebound in the economy that cannot be maintained, says Jerry Jordan, former president of the Federal Reserve Bank of Cleveland.” Watch it here. “The Recovery is Artificial” Jerry Jordan MoneyShow.com, August 19, 2010.
-
“Fed Off’ls at Jackson Hole Discuss Tough Policy Challenges”
“Federal Reserve policymakers and many of the world’s other top central bankers are gathering Thursday for their annual retreat and symposium in the shadow of the Grand Tetons. They are also meeting in the shadow of looming economic and financial problems, which seem to be defying the stimulative efforts of both monetary and fiscal policy.…
-
“Fed Asks Court to Stay Discount-Window Ruling”
“The Federal Reserve has asked a U.S. appeals court to stay a ruling that it must disclose documents regarding borrowing from its discount window and other “last resort” lending programs during the financial crisis. “The stay is necessary to permit the board to consult with the Department of Justice regarding an appeal to the Supreme…
-
Is There a Government Bond Bubble?
“YES, there is a government bond bubble. And it’s huge. Uncle Sam and his counterparts in the EU and Japan are broke and are, almost surely, going to print vast quantities of money to cover their enormous spending obligations. The printing presses are already working full time. The Fed, for example, has increased the monetary…
-
Why QE Could Trigger a Collapse of the Dollar
“A week ago, the Federal Reserve initiated a new program of “quantitative easing” (QE), with the Fed purchasing U.S. Treasury securities and paying for those securities by creating billions of dollars in new monetary base. Treasury bond prices surged on the action. With the U.S. economy predictably weakening, this second round of quantitative easing appears…
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