fedDuring this 30+ minute interview, Jason asks G Edward Griffin about when things really started to go badly in the US and if 1913 marked a key historical point?
Griffin says the US Constitution was flawed and yet the US prospered for many, many years until collectivism started to massively accelerate during the Woodrow Wilson era.
Jason then asks Griffin about Keynesian Economics and if deflation will be allowed for a long period of time?
Griffin says there’s a big, important ideological battle going on now between collectivism and those who oppose it.

  • To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.
  • The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market

Full FOMC Statement below:

BernankeThe pre-Fed period of the American Economy is pretty stable. Two spikes occur due to wars that we know disrupted the economy—and they’re pretty small, considering.
Interest declines to a lower level when the government was paying down its war debt. Things remain stable until the creation of the Fed.
After that, we get a rise, a protracted fall, an incredible and truly massive rise, and an endless freefall.

The 2008 crisis saw the Fed use some of its tools, but not all of them.
The Fed’s most powerful tools, gold revaluation and money printing, were never employed in that crisis.
QE4, if used to fund government infrastructure spending, can be inflationary, but if the next crisis is severe, only gold revaluation will work to end it.

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  • Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market 
  • Even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run
    (Translation: ZIRP is here to stay)
  • Fed to maintain accommodative financial conditions
  • Somehow no rate hike is now algo bearish for PMs as Gold & silver instantly knocked lower on the release…

Full FOMC statement is below:

20121003_grant_0

Our favorite Fed-basher, Jim Grant was back on CNBC’s Squawk Box for another brilliant interview discussing the fall-out from the Fed’s disastrous economic policies.  

“If companies can’t fail that means somebody else can’t start. You’re looking at a petrified forest rather than dynamic capitalism,
 
Behold “The fruit of heavy-handed government manipulation & price control no matter what ‘famous-blogger’ Ben Bernanke says

Grant’s leaves the CNBC shills nearly speachless once again:

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The Fed-induced money-printing has spawned the biggest stock market bubble in history. The is not going to end well – for anyone.   I asserted back in 2003 that I hoped Alan Greenspan lived long enough to see his name live in ignominy.   But he’s been given a chance to cover up his crimes.
It looks to me like Grandma Yellen – that witless idiot who looks like she’d be more comfortable with a set of knitting needles in her lap than fielding softball questions from a captive media – will be the one of who bears the burden of wearing  the collapse the is coming.

Fed monkey

The Federal Open Market Committee (FOMC) statement released on Wednesday was notable for deferring interest rate rises to some unspecified time in the future.
It appears the Fed is boxed in, and raising the Fed funds rate would probably only serve to increase excess reserves. If so, the Fed would have to shell out interest payments to the banks at a rate it really cannot afford, given its own balance sheet is geared over 70 times. Markets seem to be slow to understand this problem: if the Fed is unable to raise interest rates (i.e. the Fed funds rate) the dollar itself is at risk.

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The Creature from Jekyll Island’s G Edward Griffin joins Reluctant Preppers for an excellent interview discussing the blueprint for Ending the Fed once and for all.
Is it even possible?
G Edward Griffin’s full MUST LISTEN interview is below: 

Dimon

The Shadow of Truth hosts Rob Kirby for an incredible discussion about the insidious, omnipresent forces behind what has evolved into continuous, non-stop global financial markets intervention by the Central Banks.  
Or is it really the Central Banks?
Who is the real “Wizard” behind the curtain??

torch fire

The Federal Reserve exists for the sole purpose of enriching big banks…The Fed does whatever it takes to keep a yacht filled of failed executives and their friends unimaginably rich.  If this requires an economy of 300 million people to be blow-torched, then a blow-torching is what that economy will get.John Titus, “Bailout Films” and “Best Evidence”

20121003_grant_0

Our favorite critic of the Federal Reserve, Jim Grant was back on CNBC to provide his perspective on Janet Yellen & the Fed preparing to hike interest rates. 
Grant unleashes another epic rant against the Fed, and ‘the virus of radical monetary policy‘. 
Full must see interview is below: 

gold

What is not often covered in the media are the audits of the US official gold reserves stored at the US Mint, which is the custodian for 95 % (7716 tonnes) of the stash – also referred to as deep storage, and at the Federal Reserve Bank Of New York that safeguards the remaining 5 % (418 tonnes).
The lawful owner of the US official gold reserves is the US Treasury

Part one covered the most recent records I could find published by the US government, in this post we’ll examine more historical records and approach this matter from a more critical angle.