Monthly Archives: August 2012

After the Storm

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“If we look at the economic collapses of the past, (inclusive of their possible knock-on effects, such as hyperinflation and destruction of the currency), from the fall of the Roman Empire to Weimar Germany, to Argentina and Zimbabwe – take your pick – the pattern is extremely similar.  So, let’s have a look at that pattern and ask ourselves if the present situation might not play out much the same, even in order. The reason? Details change in history, but human nature remains the same. The same knee-jerk reactions by people will repeat themselves over and over.”

http://www.internationalman.com/global-perspectives/after-the-storm-the-11-stages-of-the-crash

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Doug French: Separating the Banking Wheat from the Chaff

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“What hasn’t abated is the elevated number of banks on the FDIC’s super secret problem list. After jumping from 76 at the end of 2007 to 252 at the end of 2008 to a high of 888 at the end of the March 2011, the number has stayed stubbornly high, with 772 still on the list at the end of March of this year.  More than 280 banks have been closed since the end of 2009, yet the number of problem banks has increased by 70 since then. The problem banks aren’t getting any healthier, and more banks are getting sicker.”

http://whiskeyandgunpowder.com/separating-the-banking-wheat-from-the-chaff/

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Ron Paul: Inflation is a Monetary Phenomenon

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“For decades the Fed has operated without any meaningful oversight whatsoever, resulting in the loss of savings, loss of purchasing power, and loss of quality of life for all Americans. It causes individuals and businesses to make bad decisions, misallocating their capital because market signals have been distorted. It causes financial ruin by engineering the inevitable boom and bust cycles that so many erroneously blame on capitalism. And it does all this in secrecy, to the benefit of the financial and political classes.”

http://www.thedailybell.com/4088/Ron-Paul-Inflation-is-a-Monetary-Phenomenon

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Reality Check: Do We Really Need To Audit The Federal Reserve?

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“Ben Swann Reality Check takes a look at history and present activities of the Federal Reserve Bank and whether the Fed needs to be audited.”

http://www.youtube.com/watch?v=mqmYRnBVmEo

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Jeffrey Tucker: Mises Can Save the World

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“If they had listened to Mises in 1927, the world might have been saved. There would have been no Holocaust, Gulag, bombing of civilians, prolonged Depression and vast human suffering.  That was then. What can we do now? We can revisit his great work Liberalism, drink deeply from its wisdom and apply it in our time.”

http://lfb.org/today/mises-can-save-the-world/

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Ron Paul’s victory over Bernanke and the Federal Reserve

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“In 2012, discussion about the Federal Reserve is very different. The Fed is a topic that is now openly and thoroughly debated, due in part to its abysmal response to the financial calamity unfolding. Thanks in large part to the efforts of Ron Paul and the grassroots movement he inspired, the public is now aware of and debating the central bank’s actions, while also protesting Fed policies.  The financial catastrophe of 2008 has made the public increasingly mistrustful of the Fed and its covert activities. A poll conducted in 2010 showed that the majority of Americans believed that the Fed should be severely reigned in or abolished.”

http://communities.washingtontimes.com/neighborhood/remnant/2012/aug/13/ron-pauls-victory-over-fed/

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IMF Launches Old-Fashioned Propaganda on YouTube

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“This video, which has just gone up on YouTube, tells the tale of the formation of the International Monetary Fund.  Interestingly, it’s been placed on YouTube by the IMF itself, which has its own YouTube channel. You can read the description of the IMF above.  The newsreel, which must have been put together in the 1940s or early 1950s, sounds like any other Western propaganda of the time. The sonorous voice-over of the narrator telling us what to believe is especially noteworthy – and would be amusing if one didn’t already know how much suffering the IMF has caused.”

http://www.thedailybell.com/4183/VIDEO-IMF-Launches-Old-Fashioned-Propaganda-on-YouTube

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Cracking of the Euro-Elite … The Triumph of Hope?

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“The top Eurocrats, the ones that matter, continue to travel well behind the curve of what is actually happening, in our humble view. Even the Eurocrats at the very top are only now reluctantly coming around to the view that the euro will have to be split asunder. They should have realized this long ago.  Of course, the reason they didn’t is because in their arrogance, they believed that a euro-currency crisis would provide a pretext for a closer and more binding union.”

http://www.thedailybell.com/4166/Cracking-of-the-Euro-Elite-The-Triumph-of-Hope

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Dominoes

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“Each time a domino falls, the member state requires assistance from the remaining member states. When Greece fell into financial disarray and then failure, the other 16 states had to provide the subsidy. When Ireland fell, there were 15. Portugal made it 14. Cyprus made it 13. Now Spain leaves 12 remaining.  As the dominoes continue to fall, the costs are reapportioned among the remainder, which is a shrinking cohort. Wealthy French, Italian, Spanish, Greek, Portuguese, Cypriot, Irish, and other citizens are voting with their feet. The financial flows reflect it.”

http://www.ritholtz.com/blog/2012/07/dominoes/

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Detlev Schlichter: The triumph of politics

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“Since 1971, the number and intensity of banking crises around the world has gone up markedly. Debt levels exploded. The ten years up to the start of this crisis in July 2007 have seen house prices in the US rise ten times faster than over the previous one hundred years.  Look around the world today. Is it a coincidence that all major central banks are at zero interest rates to support bankrupt banks and bankrupt governments the world over?  Bizarrely, it is today the advocates of sound and hard money who are made to explain their atavistic ideas.”

http://papermoneycollapse.com/2012/07/the-triumph-of-politics/

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