Hungary is in a recession, again. According to the chattering classes, as well as many analysts and financial reporters, fiscal austerity is the cause of Hungary’s slump. Nonsense. Hungary’s recession results from its slumping money supply.
While some members of Congress and Republican presidential hopeful Mitt Romney want to label China a “currency manipulator,” little is said about the Federal Reserve’s role as an interest-rate manipulator.
During the Cold War, national security analysts spoke knowingly about the art of "Kremlinology." This was a technique for understanding Soviet power relations and policy changes taking place inside the leadership compound in the Kremlin.
As concerns over the U.S. dollar and the Federal Reserve continue to grow, U.S. lawmakers are exploring sound money, competing currencies, and the route to monetary freedom.
Bottom line: A roller coaster economy brought to you by Ben Bernanke by his first draining reserves and his then expanding them is the path we are on.
...and the government way.
The cost to America's economy, by destroying savings and price signals, is too great; the power of the Fed must be rolled back, then eliminated.