Tag Archives: Pretense Of Knowledge

Ron Paul: Fed’s Yellen Dangerous For The Economy

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“What does former U.S. congressman Dr. Ron Paul think about Janet Yellen as the Fed Chair? Kitco News caught up with Paul at the Metals & Minerals Conference in San Francisco, where he is a keynote speaker, to discuss monetary policy, gold and the US dollar. ‘It’s easy to be a critic if you don’t believe they should exist,’ Paul says in response to his criticisms of the Fed. Having Yellen as the next chair, Paul says not much will change. ‘If anything, it’ll be slightly worse because she is a very aggressive inflator…I think she’ll be dangerous to the dollar and she will not revive the economy.'”

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Economist Recommends ‘E-Dollar’ That Loses 5% Of Its Value Per Year

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“‘If you care at all about the future of this country, one of the things you need to realize is we need to solve the demand side so we can get back to the supply side issues that are really the tricky thing for the long run,’ he said. ‘The way to solve the demand side issues that is the most consistent with not messing up our supply side is monetary policy and making it so we can have negative interest rates.’ At the moment, e-dollars are still only a theoretical concept, but Kimball is hopeful that they could be put into action in the near future. He believes that if a government bought in, it could be using an electronic currency in three years and reap the benefits of it soon after.”

http://www.businessinsider.com/electronic-currency-2013-11

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Census Fakery and Banana Republics

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“In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington. The decline – from 8.1 percent in August to 7.8 percent in September – might not have been all it seemed. The numbers, according to a reliable source, were manipulated. And the Census Bureau, which does the unemployment survey, knew it. Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy.”

http://www.thedailybell.com/news-analysis/34766/Census-Fakery-and-Banana-Republics/

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Meet Two Economists Who Can Ruin Your Retirement

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“Messrs. English and Wilcox are two of the most important economists at the Federal Reserve. Their work greatly influences the Fed’s policies … and they recently presented their latest findings at the International Monetary Fund’s annual research conference.  Essentially, English and Wilcox’s new research argues that the Fed should start reducing the size of its money-printing programs in the next few months. But at the same time, the economists recommend that the Fed should offset that tapering with extremely dovish guidance on interest rates. More specifically, they suggest that the Fed should promise to keep rates close to zero until 2017!”

http://thesovereigninvestor.com/2013/11/18/meet-two-economists-can-ruin-retirement/

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The Manufacturing Index Reverses, Falls

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“The New York Federal Reserve Bank’s latest survey indicates a slowing of the regional economy. This was not expected by economists.  This is a major reversal. It took place across the boards.  This could be a temporary fluke. But this is November. This is the month preceding the Christmas season. This should be a time of increasing demand. It isn’t in the New York City area — the heart of America’s financial center.”

http://teapartyeconomist.com/2013/11/18/manufacturing-index-reverses-falls/

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Monetary Madness

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“In the Forked Tongue category, wannabe Fed chief Janet Yellen has now eclipsed Fed Chairman Bernanke for the first prize.  In her testimony before Congress this week, she says little or nothing about the 2008 debt crisis, federal deficits, European debacles, fiscal cliffs or any others which were among her predecessor’s favorite excuses for the unprecedented money printing she vows to pursue.  Nor does she talk much about a weak economy.  Instead, her new rationale is that, although the economy has improved, it hasn’t quite improved ‘enough.'”

http://www.moneyandmarkets.com/monetary-madness-56217

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What Janet Yellen Will Host and Why

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“During her confirmation process, Yellen will give a spirited defense not only of money printing but of her own moral probity and will be clear that she views her life as one sanctified by public service. Whether she has devoted her life to a ruinous enterprise will not be discussed. Certainly the larger game will not be revealed. But hidden behind the policy discussions and concern over employment is the surety that Yellen will start her term by continuing to print vast gouts of money. This money will find its way into the stock market just as intended, continuing to create mountainous stock market averages and then eventually an equity mania.”

http://www.thedailybell.com/news-analysis/34752/What-Janet-Yellen-Will-Host-and-Why/

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Yellen Signals Continued QE Undeterred by Bubble Risk

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“‘I don’t see evidence at this point, in major sectors of asset prices, misalignments,’ she said during her confirmation hearing to be the next Fed chairman. ‘Although there is limited evidence of reach for yield, we don’t see a broad buildup in leverage, where the development of risks that I think at this stage poses a risk to financial stability.’ Yellen signaled her determination to use bond buying to strengthen the economy and drive down the nation’s 7.3% unemployment rate.  As benchmark U.S. stock indexes rose to records, she sought to dispel concerns from senators that the central bank’s policy is pumping up the values of equities and housing to an extent that jeopardizes market stability.”

http://www.bloomberg.com/news/2013-11-14/yellen-says-it-s-imperative-to-promote-a-strong-recovery.html

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Bill Bonner: Capitalism and Sex Slavery

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“We interrupt the debate scene at Cleere’s pub to wander down to the coast to the little tourist town of Baltimore.  It is a tiny and mostly forgotten relic today. But what a story it has to tell: one of the most remarkable stories in Christendom. For it was the only town in England, Scotland, Wales or Ireland that was ever attacked by Moors.  Why? They wanted more.  Imagine the shock to poor Joane Broadbrook. She awoke early on the morning of June 20, 1631, to discover her roof was on fire and troops of the Ottoman Empire were breaking down her door.”

http://www.bonnerandpartners.com/capitalism-and-sex-slavery/

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Bill Bonner: Is QE Broken?

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“Forget about tapering off. Instead, think of tapering on.  How about this as a possibility? With no more ginned-up earnings from ultra-low interest expenses… no boost to top-line revenues from rising consumer spending… and no pricing power – corporate America’s earnings begin to fall.  QE or no QE, stock prices fall. The Fed panics. It will be confronted with dropping asset prices and disinflationary (possibly deflationary) consumer prices. It will have to find a way to modify QE so that it does put dollars directly into the economy. Second, this new push – if it comes – may well send stocks soaring again. There’s nothing like free money to make investors happy. Third, the entire project is doomed.”

http://www.bonnerandpartners.com/is-qe-broken/

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