Sound Banking
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Shining a Light on the Fed
Much has been made recently of the plan to audit the Fed (here, here and here). It is a very interesting idea. Given the amount of money ($2 trillion) the Fed sent out in bailout loans, it makes sense that the taxpayers who funded it want to know where the money went. Given the Fed’s…
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Will Congress ever reform the Fed?
“This week’s Senate floor votes on the powers of the Federal Reserve caught my attention. Despite Congress’s bipartisan lashing of the Fed for its performance before and after the financial crisis of 2008, the Fed this week defeated two challenges to its autonomy as a central bank. Granted, Congress’s pummeling of the Fed (recall Bernanke’s…
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“The Relationship Between Inflation and the Budget Deficit in Turkey”
“For Turkey, Metin (1995) analyzed inflation using a general framework of sectoral relationships and found that fiscal expansion was a determining factor for inflation. The excess demand for money affected inflation positively, but only in the short run. On the other hand, imported inflation, the excess demand for goods, and the excess demand for assets…
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“Who got Fed money during financial crises?”
“A Senate vote Tuesday left no doubt: Congress wants to know more about what the Federal Reserve was up to when its asset portfolio grew by more than $1 trillion during the financial crisis. What companies did the Fed help, and on what terms? The Senate voted 96 to 0 for the Government Accountability Office…
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“Euro Crisis Tests Germany’s Ability to Lead”
“At a defining moment for the European Union, its largest country, Germany, appeared divided and its leader absent, raising significant concerns about what kind of leadership Chancellor Angela Merkel can offer as the region tries to stabilize financial markets and shore up its common currency.” Read more. “Euro Crisis Tests Germany’s Ability to Lead” Nicholas…
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The Euro-Crisis: Fear Is Back in Play
“Now, fear is back in play,” said William H. Gross, managing director of Pimco, as the European crisis is sending shock waves into financial markets around the world. There is fear that the sovereign debt crisis could freeze up the euro-zone interbank market, in a replay of the credit crunch of 2007-2008. Several major European…
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Europe’s Political and Economic Crisis
Some interesting news items this week on the European crisis: A “wild week” (Financial Times) “Fears of eurozone sovereign risk contagion to banks, tighter monetary policy in China and surprise intraday selling by electronic trading systems united to deliver the worst week for global equities since the height of the financial crisis.” “For investors, the…
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Another Financial Crisis in the Making
World-wide stock markets plunged yesterday as the ongoing sovereign debt crisis in Europe is worsening. The Dow fell 1000 points–its worst ever intraday drop–before rebounding, but still ended down more than 3 percent (as did the S&P 500 and Nasdaq). Other factors played into this incident as well–a mistaken sell order from Citigroup, unfortunate consequences…
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Spending on Full
On Wednesday, I posted a link to a Freedom Daily article by Jim Powell. It was a very interesting article. I highly recommend it for those who are not aware of the history of Argentina and its fall from prosperity. I also highly recommend it to those who have still not yet grasped the truth…
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Real Banking Reform? End the Federal Reserve
“The next major question that needs to be asked is: How do they know? These are the same politicians whose time horizon goes no further than the next election day, and who pander to the special interest groups that provide them with the campaign contributions and the votes that keep them in office. And these…
-
Shining a Light on the Fed
Much has been made recently of the plan to audit the Fed (here, here and here). It is a very interesting idea. Given the amount of money ($2 trillion) the Fed sent out in bailout loans, it makes sense that the taxpayers who funded it want to know where the money went. Given the Fed’s…
-
Will Congress ever reform the Fed?
“This week’s Senate floor votes on the powers of the Federal Reserve caught my attention. Despite Congress’s bipartisan lashing of the Fed for its performance before and after the financial crisis of 2008, the Fed this week defeated two challenges to its autonomy as a central bank. Granted, Congress’s pummeling of the Fed (recall Bernanke’s…
-
“The Relationship Between Inflation and the Budget Deficit in Turkey”
“For Turkey, Metin (1995) analyzed inflation using a general framework of sectoral relationships and found that fiscal expansion was a determining factor for inflation. The excess demand for money affected inflation positively, but only in the short run. On the other hand, imported inflation, the excess demand for goods, and the excess demand for assets…
-
“Who got Fed money during financial crises?”
“A Senate vote Tuesday left no doubt: Congress wants to know more about what the Federal Reserve was up to when its asset portfolio grew by more than $1 trillion during the financial crisis. What companies did the Fed help, and on what terms? The Senate voted 96 to 0 for the Government Accountability Office…
-
“Euro Crisis Tests Germany’s Ability to Lead”
“At a defining moment for the European Union, its largest country, Germany, appeared divided and its leader absent, raising significant concerns about what kind of leadership Chancellor Angela Merkel can offer as the region tries to stabilize financial markets and shore up its common currency.” Read more. “Euro Crisis Tests Germany’s Ability to Lead” Nicholas…
-
The Euro-Crisis: Fear Is Back in Play
“Now, fear is back in play,” said William H. Gross, managing director of Pimco, as the European crisis is sending shock waves into financial markets around the world. There is fear that the sovereign debt crisis could freeze up the euro-zone interbank market, in a replay of the credit crunch of 2007-2008. Several major European…
-
Europe’s Political and Economic Crisis
Some interesting news items this week on the European crisis: A “wild week” (Financial Times) “Fears of eurozone sovereign risk contagion to banks, tighter monetary policy in China and surprise intraday selling by electronic trading systems united to deliver the worst week for global equities since the height of the financial crisis.” “For investors, the…
-
Another Financial Crisis in the Making
World-wide stock markets plunged yesterday as the ongoing sovereign debt crisis in Europe is worsening. The Dow fell 1000 points–its worst ever intraday drop–before rebounding, but still ended down more than 3 percent (as did the S&P 500 and Nasdaq). Other factors played into this incident as well–a mistaken sell order from Citigroup, unfortunate consequences…
-
Spending on Full
On Wednesday, I posted a link to a Freedom Daily article by Jim Powell. It was a very interesting article. I highly recommend it for those who are not aware of the history of Argentina and its fall from prosperity. I also highly recommend it to those who have still not yet grasped the truth…
-
Real Banking Reform? End the Federal Reserve
“The next major question that needs to be asked is: How do they know? These are the same politicians whose time horizon goes no further than the next election day, and who pander to the special interest groups that provide them with the campaign contributions and the votes that keep them in office. And these…
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