Keyword: monetary

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  • Citi Economist Says It Might Be Time to Abolish Cash [Link Only]

    04/16/2015 1:53:35 PM PDT · by C19fan · 48 replies
    Bloomberg [Link Only] ^ | April 16, 2015 | Lorcan Roche Kelly
  • More easy money’s on the way

    06/20/2013 6:41:28 AM PDT · by SeekAndFind
    New York Post ^ | 06/20/2013 | Charles Gasparino
    The big story yesterday was supposed to be Ben Bernanke’s signal to the markets about future Fed policy — whether he’ll scale it back, or just go on printing money to keep interest rates super-low and inflate the economy. But that’s basically a false drama, fueled largely by jittery traders who know their life blood could be in danger when the Fed finally starts to raise rates and roll backits “quantitative easing” program of buying massive amounts of bonds to infuse the economy and the markets with cash. No, the real story is that Bernanke — and whoever replaces him...
  • The 1870-1914 Gold Standard: The Most Perfect One Ever Created

    01/04/2013 6:59:58 AM PST · by SeekAndFind · 11 replies
    Forbes ^ | 01/04/2013 | Nathan Lewis
    The most perfect monetary system humans have yet created was the world gold standard system of the late 19th century, roughly 1870-1914. We don’t have to hypothesize too much about what a new world gold standard system could look like. We can just look at what has already been done. Contrary to popular belief, people generally did not conduct commerce with gold coins. Yes, gold coins existed, but people mostly used paper banknotes and bank transfers, just as they do today. In 1910, gold coins comprised $591 million out of total currency (base money) of $3,149 million in the United...
  • Fed Announces Further Monetary Stimulus - Protests Erupt!

    12/12/2012 10:53:37 AM PST · by whitedog57 · 14 replies
    Confounded Interest ^ | 12/12/2012 | Anthony B. Sanders
    The Fed announced further monetary stimulus with $45 billion Treasury purchases per month to on top of $40 billion in agency mortgage-backed securities purchases starting in January. But back to the Fed’s announcement. Richmond Fed President Jeffrey Lacker. dissented for the eighth consecutive meeting, saying he opposed the asset purchase program. Lacker opposed the FOMC’s June decision to extend Operation Twist through the end of the year along with additional asset purchases, saying more bond buying probably won’t quicken economic growth. The Fed’s balance sheet is expected to grow, of course, beyond its current level of almost $3 trillion. According...
  • Paul Ryan Could Make History With Both Monetary And Spending Reform

    08/25/2012 7:08:12 AM PDT · by SeekAndFind · 9 replies
    Forbes ^ | 08/25/2012 | Ralph Benko
    "I’ve been asked if I have any regrets. Well, I do. The deficit is one.” — Ronald Reagan’s farewell address. _______________________ When Ronald Reagan was elected president the Dow Jones Industrial Average hovered around 1,000 (less than 2,800 inflation adjusted) — and had dipped, under President Carter, as low as 759. Unemployment stood at an unacceptable 7+%. The Soviet Union was aggressive, bellicose, and, in the eyes of the Western policy elite, could be but contained, not challenged. At the end of Reagan’s eight years in office, the Dow had tripled in value, on its way much higher. Job growth...
  • American Airlines: Bankrupt Victim of Weak U.S. Dollar Policies

    02/06/2012 6:56:47 AM PST · by SeekAndFind · 7 replies
    Forbes ^ | 02/06/2012 | John Tamny
    As is well known now, American Airlines filed for bankruptcy toward the end of last year. In one certain sense this shouldn’t surprise us given how its legacy competitors did much the same earlier in the new millennium. After that, the origins of our best-known and oldest air carriers perhaps foretold their modern problems in ways most don’t understand today. As T.A. Heppenheimer put it in his 1994 book Turbulent Skies, “Government actions brought forth the first air carriers in both Europe and the United States.” Rather than creations of the private sector, politicians formed notable carriers such as American...
  • Fed decides on $400 billion bond swap (Operation Twist)

    09/21/2011 11:57:08 AM PDT · by Free Vulcan · 5 replies
    Marketwatch ^ | 9.21.11 | Greg Robb
    WASHINGTON (MarketWatch) — The Federal Reserve on Wednesday, acting in the face of a weak economic outlook, decided to start a program to twist the yield curve by swapping shorter-maturity government securities for longer-dated ones. In a statement, the Fed will buy $400 billion of Treasury securities in the 6-30 year range and sell an equal amount of maturities of 3 years or less. The Fed also announced a new plan to purchase agency mortgage-backed securities with proceeds of maturing securities.
  • The Monetary Reform Act of 201X | Authentic

    07/14/2011 9:22:57 PM PDT · by NaturalBornConservative · 37 replies
    Natural Born Conservative ^ | July 14, 2011 | Larry Walker
    The Two Step Plan to National Economic Reform and RecoveryStep 1: Directs the Treasury Department to issue U.S. Notes (like Lincoln’s Greenbacks; can also be in electronic deposit format) to pay off the National debt.Step 2: Increases the reserve ratio private banks are required to maintain from 10% to 100%, thereby terminating their ability to create money, while simultaneously absorbing the funds created to retire the national debt.These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans...
  • Monetary Reform, Part II | Lending and Interest

    07/04/2011 11:30:11 AM PDT · by NaturalBornConservative · 11 replies
    Natural Born Conservative ^ | July 3, 2011 | Larry Walker, Jr.
    - By: Larry Walker, Jr. -The interest that U.S. taxpayers pay on behalf of the federal government, for the privilege of having money in our wallets, and to cover irresponsible deficit-spending, is only the beginning of our woes. When it comes to our personal credit needs, American citizens are once again shackled and sold down river. With regards to borrowing and lending, we may be able to take a few pointers from Islamic banking. I know what you’re thinking, but just bear with me. Let me make one thing clear, I am a Christian, and I do not agree with...
  • Monetary Reform, Part I | End the Debt

    07/04/2011 11:24:08 AM PDT · by NaturalBornConservative · 5 replies
    Natural Born Conservative ^ | July 3, 2011 | Larry Walker, Jr.
    ~ By: Larry Walker, Jr. ~The rich rule over the poor. The borrower is servant to the lender. ~ Proverbs 22:7 ~Free Our Money - So what’s the problem? You know, you think about it all the time. It’s debt, debt, debt! The way our economy is set up now, the only way it can grow is through incurring more debt, either by government, business or consumer borrowing. Our economy cannot grow without increasing its money supply, and the only way that new money can be introduced, under the present monetary system, is through debt. But growth through debt really...
  • Will Obama subsidize gasoline taxes to increase US debt and redistribute global reserves back home?

    03/08/2011 1:37:37 AM PST · by ExxonPatrolUs · 8 replies · 1+ views
    Biden's Brain ^ | 3/7/2011 | Self
    Every scheme and every so-called compromise King Obama signs off on has but one goal. Redistribute from the rest of the world to US states and US voters via Fed monetary policy. Am I correct?
  • Hilarious Video: Cartoon Bears Explain Lousy Monetary Policy

    11/12/2010 5:09:53 PM PST · by careyb · 15 replies
    The Hope For America ^ | 11/12/10 | XtraNormal
    Absolutely wonderful (some language).
  • The QE2 Binge - Inflation on the Horizon

    11/09/2010 8:25:51 AM PST · by Lucky9teen · 1 replies ^ | 11/04/2010 - 11:28 | Michael Collins
    Don’t these men know the nasty history of central banks which monetize government deficits as the Fed is now doing? The QE2 left New York harbor yesterday, on its voyage to ports all around the globe. Captain Ben Bernanke has promised to shower the inhabitants of such diverse locales as Brazil, India, and China with up to $600 billion of free money. Following his departure, central banks in these countries announced that they did not want the money and will enact regulations to forbid the QE2 to land in their country. (Image) Such is the bizarre state of monetary policy...
  • What the Fed did and why: supporting the recovery and sustaining price stability

    11/04/2010 9:28:26 AM PDT · by Duke C. · 7 replies
    Washington Post ^ | Nov. 4, 2010 | Ben S. Bernanke
    Two years have passed since the worst financial crisis since the 1930s dealt a body blow to the world economy. Working with policymakers at home and abroad, the Federal Reserve responded with strong and creative measures to help stabilize the financial system and the economy. Among the Fed's responses was a dramatic easing of monetary policy - reducing short-term interest rates nearly to zero. The Fed also purchased more than a trillion dollars' worth of Treasury securities and U.S.-backed mortgage-related securities, which helped reduce longer-term interest rates, such as those for mortgages and corporate bonds.
  • RBS tells clients to prepare for 'monster' money-printing by the Federal Reserve

    06/29/2010 5:36:19 AM PDT · by campaignPete R-CT · 12 replies
    UK Telegraph ^ | June 27, 2010 | Ambrose Evans-Pritchard
    Entitled "Deflation: Making Sure It Doesn’t Happen Here", it is a warfare manual for defeating economic slumps by use of extreme monetary stimulus once interest rates have dropped to zero, and implicitly once governments have spent themselves to near bankruptcy. "snip>" Societe Generale's uber-bear Albert Edwards said the Fed and other central banks will be forced to print more money whatever they now say, given the "stinking fiscal mess" across the developed world. "The response to the coming deflationary maelstrom will be additional money printing that will make the recent QE seem insignificant," he said. Despite the apparent rift with...
  • U.S. Unveils New $100 Bill

    04/21/2010 9:00:11 AM PDT · by Thurston_Howell_III · 59 replies · 2,216+ views
    Wall Street Journal ^ | April | DARRELL A. HUGHES
    WASHINGTON—Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke unveiled a new $100 bill equipped with two new security features. The bill will go into circulation Feb. 10, 2011. The Fed, along with the Treasury Department, the Bureau of Engraving and Printing and the U.S. Secret Service, "continuously monitor the counterfeiting threats" for each denomination and redesign decisions are made based on those threats, Mr. Bernanke said.
  • Protectionism Didn't Cause the Great Depression (The Depression's cause was monetary)

    04/09/2010 9:52:32 AM PDT · by SeekAndFind · 23 replies · 547+ views
    American Thinker ^ | 04/09/2010 | Ian Fletcher
    The debate over free trade is riddled with myth after myth. One that keeps resurfacing, no matter how many times it is discredited, is the idea that protectionism caused the Great Depression. One occasionally even hears that this same protectionism -- specifically, the Smoot-Hawley tariff of 1930 -- was responsible in significant part for World War Two! This is nonsense dreamed up for propaganda purposes by free traders, and it can easily be debunked. Let's start by reminding ourselves of a basic fact: The Depression's cause was monetary. The Federal Reserve had allowed the money supply to balloon excessively during...
  • Celente: Bernanke is destroying the US economy [VIDEO from Russia Today]

    12/03/2009 11:32:39 PM PST · by UAConservative · 2 replies · 334+ views
    Youtube (RT) ^ | December 3, 2009 | RussiaToday
    Video interview of Gerald Celente about why Bernanke should not be reconfirmed.
  • Monetary Madness (The early death throes of our Federal Reserve notes)

    09/17/2009 12:48:21 PM PDT · by SeekAndFind · 12 replies · 906+ views
    Men's News Daily ^ | 9/16/2009 | Dr. Mark W. Hendrickson
    China, Russia, et al. are talking about shifting their monetary reserves out of U.S. dollars. Gold has hit $1000 per ounce, even though wholesale and retail prices exhibit a deflationary bias. The United Nations has called for a new world currency to replace the dollar. What’s going on? All of these phenomena are early death throes of Federal Reserve notes. I balk at saying “the U.S. dollar,” because a “dollar” is still defined in law as a certain quantity of silver or gold, whereas the U.S. currency that now circulates here and around the globe consists of nothing more than...
  • Why the Current Policy Prescriptions Cannot Possibly Work

    08/08/2009 7:30:11 PM PDT · by sickoflibs · 6 replies · 870+ views
    Mises Institute ^ | 8/7/2009 | Thorsten Polleit
    The Cause of the Disaster: Are governments doing enough to fight this financial and economic crisis? Is it a good thing that central banks have cut interest rates essentially to zero and have increased the base money supply dramatically to support the financial sector? Will depression be prevented if governments across the world run up huge deficits in an attempt to strengthen demand, production, and employment? To answer these questions truthfully, we need to diagnose the causes of the debacle and then formulate the proper way out of it. The diagnosis can be stated in just one sentence: Governments have...
  • *****Fed planning 15-Fold Increase in US monetary base*****

    03/20/2009 10:11:56 AM PDT · by givemELL · 59 replies · 2,702+ views
    Market Skeptics ^ | March 20, 2009 | Eric deCarbonnei
    "The fed is planning moves that would more than double its balance-sheet assets by September to $4.5 trillion from $1.9 trillion. Whether expressing approval or concern over the fed’s move, most commentators fail to understand the real magnitude of the projected expansion of the US monetary base because they don’t take into account the amount of dollars circulating abroad......................The fed’s planned balance sheet expansion results in a 15-fold increase in the base money supply. 262 Billion = US monetary base as of September 2008 (minus dollars held abroad) 3,818 Billion = projected US monetary base in September 2009 (minus dollars...
  • Bank of the United States

    02/28/2009 9:10:30 AM PST · by nateriver · 13 replies · 418+ views
    FRU ^ | 02/27/09 | Kempion
    Is a Central Bank, governed by “The People” the answer to our country’s financial woes? “If we scrap the current monetary model, the Federal Reserve System, and re-establish the Bank of the United States we can not only get out of debt but we can also generate enormous revenue while not levying any federal taxes.”
  • UK officially nationalises more Banks!

    02/19/2009 10:29:21 AM PST · by Errant · 3 replies · 278+ views
    YouTube ^ | 19 Feb 2009 | FeverIAm
    See Link for Youtube Video. His name is Mike. Good information on latest UK and other countries economic problems.
  • Trilateral Plan to Corner World Gold Market?

    12/10/2008 7:11:22 AM PST · by Sammy67 · 33 replies · 1,170+ views [Editor's note: members of the Trilateral Commission and companies with Commission representation appear in bold type.] Since 1973, this writer has made inquiry as to the location and ownership of the vast stores of monetary gold (400 oz., .999 pure bars) in the world. There has not been a formal audit on Fort Knox, for instance, since the Eisenhower administration. Official statistics on gold holdings are often contradictory. Getting plain answers from any Central Bank in the world, including the Fed, is virtually impossible. This paper points out a pattern of manipulation that has been clearly observed by many...
  • Rubin's poisoned chalice

    05/21/2008 6:26:36 AM PDT · by OpusatFR · 12 replies · 115+ views
    AsiaTimes online ^ | May 21, 2008 | By Henry C K Liu
    More than two years after the October 1929 stock market crash and in the depth of the ensuing depression, a commission originally established by the Republican-chaired Senate Banking and Currency Committee to prepare the party's official defense for the upcoming presidential election finally began in March 1932 to examine the causes of the market crash and to recommend reforms to prevent future recurrences...SNIP... The implosion of Rubinomics It was Robert Rubin, special economic assistant to Clinton and later Treasury secretary, who worked out what has come to be known as Rubinomics, the strategy of dollar hegemony through the promotion of...
  • Financial Services Committee Hearing-“Monetary Policy and the State of the Economy”[Ron Paul]

    02/29/2008 4:34:19 PM PST · by BGHater · 7 replies · 141+ views ^ | 27 Feb 2008 | Ron Paul
    Mr. Chairman, A topic that is on the lips of many people during the past few months, and one with which I have greatly concerned myself, is that of moral hazard. We hear cries from all corners, from politicians, journalists, economists, businessmen, and citizens, clamoring for the federal government to intervene in the economy in order to forestall a calamitous recession. During the boom, many of these same individuals called for no end to the Fed's easy credit. Now that the consequences of that easy money policy are coming home to roost, no one wants to face those ill effects....
  • 'Nimble' Monetary Policy Is Needed, Fed's Kohn Says

    11/28/2007 5:33:48 AM PST · by shrinkermd · 14 replies · 158+ views
    Wall Street Journal ^ | 28 November 2007 | BRIAN BLACKSTONE
    <p>A top Federal Reserve official said Wednesday that recent financial turbulence has undone some of the improvement seen in previous weeks, and repeated the need for "nimble" monetary policy to address economic risks.</p> <p>The remarks, by Fed Vice Chairman Donald Kohn, suggest that interest rate reductions remain on the table even though policymakers adopted a neutral view of growth and inflation risks at their last meeting.</p>
  • Gold and Economic Freedom

    10/28/2007 3:35:40 PM PDT · by MadDoctorD · 23 replies · 106+ views
    The Objectivist Newsletter ^ | 1966 | Alan Greenspan
    An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other. In order to understand the source of their antagonism, it is necessary first to understand the specific role of gold in a free society. Money is the common denominator of all economic transactions. It is that commodity which serves as a medium...
  • Senate Panel Indicates Readiness to “Squeeze China” Over Currency

    07/27/2007 5:04:44 AM PDT · by Lou L · 4 replies · 211+ views
    Peace and Freedom ^ | July 27, 2007 | John E. Carey
    Senate Panel Indicates Readiness to “Squeeze China” Over Currency “A country builds its military strength on the back of its economic development.  The West has dealt China a hand with all aces.”By John E. Carey Peace and Freedom July 27, 2007On the eve of a landmark visit to China by U.S. Treasury Secretary Henry Paulson, the U.S. Senate’s Finance Committee voted 20-1 to force China to raise the value of its currency.The Bush Administration opposes the legislation.But that is no matter.The president is weak, with some of the lowest approval ratings for any president, and the 20-1 committee vote indicates that...
  • Hope for Europe?

    08/05/2005 1:31:33 AM PDT · by F14 Pilot · 7 replies · 568+ views ^ | August 5, 2005 | By Richard W. Rahn
    Europe is in crisis. It is depopulating because of birthrates well below replacement. Weighted down by oppressive taxes and onerous regulations, the economies of the major European nations are barely growing. Pessimism reigns. Yet there are the little flickers of light in the form of bright and energetic young people pushing constructive change, and increasing public recognition from some European leaders that the present course is unsustainable. In times of crisis, some nations find a Ronald Reagan, a Winston Churchill or a Margaret Thatcher. If one looks closely at the increasing political divisions in France, Germany and Italy, it is...
  • FOMC Raises Federal Funds Rate 25 Basis Points to 2.25%

    12/14/2004 11:16:34 AM PST · by RWR8189 · 41 replies · 2,275+ views
    CNBC | December 14, 2004
    In the fifth tightening of US monetary policy in as many meetings, Alan Greenspan and the Federal Open Market Committee (FOMC) raised the Federal Funds Rate target 25 basis points to 2.25%, as expected. More...
  • FOMC Raises Federal Funds Rate 25 Basis Points to 2.00%

    11/10/2004 11:16:10 AM PST · by RWR8189 · 19 replies · 2,171+ views
    CNBC | November 10, 2004
    In the fourth tightening of US monetary policy in as many meetings, Alan Greenspan and the Federal Open Market Committee (FOMC) raised the Federal Funds Rate target 25 basis points to 2.00%, as expected. More...
  • WSJ: Let's Talk Taxes

    09/08/2004 6:00:01 AM PDT · by OESY · 5 replies · 707+ views
    Wall Street Journal ^ | September 8, 2004 | R. GLENN HUBBARD
    ...[I]f John Kerry rolled back President George W. Bush's tax cuts, as he has promised, would more jobs be created? ...Tax policy can play a significant role in encouraging -- or discouraging -- entrepreneurial risk-taking. It is startling how many entrepreneurs starting a business are subject to the individual income tax (as sole proprietorships, partnerships, or S corporations). Because entrepreneurship is a risky undertaking, prospective entrants evaluate possible after-tax returns from success and failure in deciding whether to start a business. The income tax weighs in because the government is not an equal partner in success and failure. While the...
  • FOMC Raises Federal Funds Rate 25 Basis Points to 1.50%

    08/10/2004 11:15:32 AM PDT · by RWR8189 · 66 replies · 2,965+ views
    CNBC | August 10, 2004
    In the second tightening of US monetary policy since May of 2000, Alan Greenspan and the Federal Open Market Committee (FOMC) raised the Federal Funds Rate target 25 basis points to 1.50%, as expected. More...
  • Time may be right to end Bryant's criminal case

    08/05/2004 5:38:59 AM PDT · by Hawk44 · 7 replies · 338+ views
    Rocky Mountain News ^ | 08/05/2004 | Scott Robinson
    Second thoughts. After more than a year, Kobe Bryant's young accuser is now rethinking her decision to seek criminal prosecution of the NBA superstar, at least according to her lawyers, who appeared on Good Morning America Wednesday. Who can blame her, and what took her so long? From the outset, the evidence available for a criminal trial against Bryant has been underwhelming at best. His accuser isolated him by room assignment, snuck around to his room knowing he was more than a little interested in her, and then willingly participated in activities more appropriate to longtime lovers than to new...
  • FOMC Raises Federal Funds Rate 25 Basis Points to 1.25%

    06/30/2004 11:19:20 AM PDT · by RWR8189 · 61 replies · 690+ views
    CNBC | June 30, 2004
    In the first tightening of US monetary policy since May of 2000, Alan Greenspan and the Federal Open Market Committee (FOMC) raised the Federal Funds Rate target, from its 46 year low, 25 basis points to 1.25%. More...
  • The Gangsters (Barron's Columnist Says Abolish the Fed)

    08/24/2003 3:57:49 PM PDT · by shrinkermd · 2 replies · 251+ views
    Barron's ^ | Monday 25 August 2003 | Gene Epstein
    <p>WHAT'S NOT TO LIKE ABOUT those two white knights of economic intervention known as Monetary and Fiscal Policy?</p> <p>Monetary Man, in service to Alan Greenspan's Federal Reserve Board, has lowered the overnight interest rate to such a point that short-term credit is practically being given away. And with exquisite timing, Fiscal Man, first knight to the federal government's power to tax, spend and borrow, has cut taxes to get us all to buy more, while the government is helpfully pitching in by spending a lot more on its own.</p>
  • Federal push ousts the CEO at Freddie Mac

    08/23/2003 4:25:15 AM PDT · by snopercod · 14 replies · 279+ views
    The Seattle Times ^ | August 23, 2000 | Martin Crutsinger, Associated Press
    WASHINGTON — The chief executive of Freddie Mac and the corporation's general counsel are being replaced at the request of federal regulators as an investigation continues into the embattled mortgage giant's accounting practices. Armando Falcon, the head of the Office of Federal Housing Enterprise, said yesterday that based on a review of the conduct of senior Freddie Mac officials, he had recommended the removal of Freddie Mac Chief Executive Gregory Parseghian and General Counsel Maud Mater. Falcon said in a statement that he had concluded that the two officials "should be replaced." He said federal regulators would work with the...
  • IMF selects India as FTP member

    06/29/2003 9:46:52 PM PDT · by MACK_DADDY · 5 replies · 167+ views
    SIFY NEWS ^ | Saturday, 28 June , 2003, 18:27
    Mumbai: In view of its strong balance of payments and comfortable foreign exchange reserves position, India has been selected for the first time by International Monetary Fund to become a member of its Financial Transaction Plan. Accordingly, India has contributed US dollar 205 million to the FTP, thus turning from a debtor into a creditor to IMF. The decision to select India as a member of FTP from September-November 2002 quarter sends a strong signal of the country's strength and the resilience of its external sector to the international community, an RBI release said in Mumbai on Saturday. The IMF...
  • Greenspan the Great!

    07/17/2002 4:09:07 PM PDT · by n-tres-ted · 10 replies · 226+ views ^ | July 17, 2002 | Jude Wanniski
    <p>When I tuned in Tuesday morning to catch Fed Chairman Alan Greenspan's testimony before Senate Banking, right off the bat I watched you gurgling about how he was the greatest central banker in the history of civilization!! The reason you chose this moment to smother him with wet kisses on his nether body parts, you said, was because you were leaving the Senate this year and probably would not have the privilege of genuflecting before him again. I turned green and looked around for a bucket.</p>