The Monetary Tsunami Is Coming - By Frank Shostak (2/9/11) PDF Print E-mail
Frank Shostak   
Friday, 02 September 2011 10:18

Mises Daily 

In his speech at Jackson Hole, Wyoming, on August 26, 2011, the Fed chairman disappointed most pundits. He did not promise another massive infusion of fake money, i.e., QE3. I suspect that a strengthening in bank lending is an important factor behind the Fed's decision to postpone the pushing of more money into the economy.

The yearly rate of growth of our measure for banks' inflationary credit jumped to 8.2 percent so far in August from 4.3 percent in July. A visible strengthening in commercial bank inflationary credit, i.e., credit "out of thin air," will provide the "necessary" monetary stimulus. This means that the massive amount of money pumped by the Fed since 2008 (over $2 trillion) is starting to be funneled into to the economy by the banks.

This has long been the hope of the Fed, and the goal of the huge increases in bank reserves that have been created during the downturn. Until recently, these reserves have been stuck in the system — unable to find lenders and borrowers willing to make a deal. This has been a good thing because prices have been held somewhat in check.



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Illusion Of Stable Currency Vortex - By Jim Willie (2/9/11) PDF Print E-mail
Jim Willie   
Friday, 02 September 2011 10:17

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The Largest Bubble in U.S. History - By National Inflation Association (31/8/11) PDF Print E-mail
By National Inflation Association   
Wednesday, 31 August 2011 13:28


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First Federal Reserve Audit Reveals Trillions in Secret Bailouts - By Matthew Cardinale (30/8/11) PDF Print E-mail
By Matthew Cardinale   
Tuesday, 30 August 2011 14:33

ATLANTA, Aug 28, 2011 (IPS) - The first-ever audit of the U.S. Federal Reserve has revealed 16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency’s opaque operations.

"This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else," U.S. Senator Bernie Sanders, an Independent from Vermont, said in a statement.

The majority of loans were issues by the Federal Reserve Bank of New York (FRBNY).



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What's Going On With The Economy? - By Mike Whitney (30/8/11) PDF Print E-mail
By Mike Whitney   
Tuesday, 30 August 2011 14:31

August 29, 2011 "Information Clearing House"

There's a very good post over at Mish's Global Economic Trend Analysis today. ("US in recession right here, right now") Blogger Mike Shedlock makes the case that the economy may already be in recession. It's all matter of whether if one uses the the consumer price index (CPI) or the the BEA's measure of price inflation to make their calculations. There's a fair amount of technical jargon to wade through in the article, but the charts are pretty persuasive and--if nothing else--they reinforce most people's suspicions that the economy is getting worse by the day.

It's too bad we don't have a financial media that's willing to explain what's going on in simple terms, but we don't. Instead, we're deluged with daily datapoints that have little meaning to the average working slob who just wants to know whether he's going to have a job tomorrow or if the company he works for is going to pack-it-in and head for Shandong Province.



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