Sound Banking

Monday, March 21st, 2011
"American International Group Inc. is trying to force the hand of the Federal Reserve on a large portfolio of subprime-mortgage bonds it wants to repurchase, putting the central bank in the position of weighing taxpayers' interests against those of the government-controlled insurer.
Friday, March 18th, 2011
Larry White gives a lecture on the benefits of Free Banking and the Gold Standard at the Cato Monetary Conference in November, 2010. Watch it here.
Thursday, March 17th, 2011
"I long have believed there are two schools of thought on our current economic crisis and its effect on the federal government’s budget. The first is that the government must stop destroying the dollar, cut back all spending, and give up trying to “stimulate” the economy back to health.
Thursday, March 17th, 2011
"Summarizing an IMF conference, Olivier Blanchard lists nine points. I will make extended comments below the fold. Here is a crucial sentence:
Wednesday, March 16th, 2011
"By 2020, public debt in the United States is set to reach 90 percent of GDP, a line that many economists demarcate as when accumulated debt pushes an economy to the precipice of fiscal demise.
Wednesday, March 16th, 2011
"Financial regulation may be the cleanest test of regulation in general, in the sense that if regulation works anywhere, it should work in the financial sector.
Friday, March 11th, 2011
"The first fact that needs to be noted in answering such questions is that inflation is detrimental to all creditors. The higher prices rise, the lower will fall the purchasing power of the principal and interest payments due.
Tuesday, March 8th, 2011
"Two top Federal Reserve officials on Monday offered conflicting views on the right response to higher oil prices, kicking off what’s likely to be a lively debate within the central bank.
Monday, March 7th, 2011
"Lately, that seems to be the message coming from current and past Fed officials regarding the housing and credit boom in the early-to-mid 2000s. First Ben Bernanke, then Vincent Reinhart, and now Janet Yellen have come out saying it was excess savings by foreigners and failings in the U.S.
Monday, March 7th, 2011
"The Leviathan exploitation of the revenue potential of the money-creation power is a possibility that will be among those to be reckoned with in the constitutional deliberations of the citizen when he considers the possible efficacy of granting independent powers of money creation to government.
Thursday, March 3rd, 2011
"Federal Reserve Bank of Kansas City President Thomas Hoenig said the central bank is “monetizing debt” with its purchases of U.S. Treasuries, a program that he says may spur inflation.
Wednesday, March 2nd, 2011
"In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started.
Friday, February 25th, 2011
"The world's currencies are gyrating, but the strains are being felt beyond financial capitals and corporate boardrooms.
Friday, February 25th, 2011
"The Foundation for Economic Education’s goal from the very beginning was to promote, what Leonard E. Read called, the freedom philosophy. Understanding the principles of economics is a crucial step to understanding why freedom works.
Wednesday, February 23rd, 2011
"Economist Judy Shelton, author of Money Meltdown and The Coming Soviet Crash, recently wrote A Guide to Sound Money as part of her work co-directing the Sound Money Project for the Atlas Economic Research Foundation (www.atlasnetwork.org).
Wednesday, February 23rd, 2011
"China and India blame the U.S. Federal Reserve for their difficulties in maintaining stable prices.
Wednesday, February 23rd, 2011
"About seventy percent of American households own their own homes, and for many their homes represent the majority of their net worth.
Thursday, February 17th, 2011
"In asking whether the recent financial crisis could have been avoided, the crucial fact is that crises of various flavors have occurred for centuries in countries around the world.
Wednesday, February 16th, 2011
"Budget plans seldom have happy as a starting point. Spending proposed by the White House Monday is certainly no exception.
Wednesday, February 16th, 2011
"The Obama Treasury Department‘s new housing reform report comes to the wise conclusion that Fannie Mae and Freddie Mac must be eliminated. The Tea Party and Republicans should be saying, “We can work with this.”

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