“Richard Nixon made a lot of bad decisions, but this one was his worst. This one has had long-term consequences far beyond anything he ever imagined. We are now trapped by the Federal Reserve, which buys $1 trillion worth of government debt every year. If it stops, we will get into another major recession. So far, there are few signs the Federal Reserve is going to stop. From 1965 until 1971, foreign governments and central banks could put pressure on the Federal Reserve to stop its expansion of money. All the government or the central bank had to do was order gold at $35 an ounce. That leverage ceased 42 years ago.”
http://www.garynorth.com/public/11406.cfm
(Visited 36 times, 1 visits today)
Related posts:
Investing In a World of Make Believe
The Liefare-Warfare State: A History Of U.S. False Flag Events
In Gold We Trust 2014
Who Are the Real Anarchists?
Fifty Ways to Leave Leviathan
Catherine Austin Fitts: Moral Investing and the Coming Equity 'Crash-Up'
Hubris Isn't the Half of It
CFR Reports on Deadly Viruses That Become the Property of Sovereign Nations
Cuba's Past Could Be Your Future
Debt: Destroyer of Lives, Businesses, and Countries
Governmental Travel Controls
The crypto-currency ecosystem: alt-coins, meta-coins and blockchain-riders
The New Deal Origins of Fannie Mae and the Government-Housing Complex
Doug Casey on Internationalizing Your Cash
The “Domestic Terrorist” You Can Call a Hero