Money, Banking, and the Federal Reserve
Nice overview of the history of money, and why the Fed has such a negative impact on the economy. From the Mises Institute.
Nice overview of the history of money, and why the Fed has such a negative impact on the economy. From the Mises Institute.
Some shocking #’s in this clip re: financial sector (bank) debt. In the U.S. there’s more of it than total consumer debt. Banks have debt equivalent to 120% of GDP. It’s hot money, and it’s fueling misallocation of capital in countless areas.
Clip starts at 16:00, though the rest of the video is worth a watch. Not just because Lauren Lyster is hot.
So next time you’re wondering why ZIRP is here, don’t. The banks want cheap access to capital, and they own the Fed. Literally.
After reading this piece over at Mises.org, by David M.W. Evans, I’d have to say yes. The climate change models proposed by global warming alarmists aren’t holding up well. The one below is by the “father of global warming”, John Hansen:
Another graph from the same piece, this one based on a 1990 IPCC Assessment report:
Evans’ entire piece is worth a read.
Considering how fraud-ridden carbon markets have turned out in the EU, there is a lot at stake. At least we can be thankful that Goldman and GE didn’t manage to get Cap & Trade passed in the U.S. (yet). What a money grab that would be.
Here’s a relevant personal anecdote: I recently met a guy whose family owns commercial tree farms. They’re making quite a bit selling “carbon offsets” to guilty-feeling individuals and businesses looking to do some greenwashing. He got quite a belly-laugh out of the fact that they would have planted every one of those trees regardless.
Jim Rogers starts addressing the “not very smart” Mr. Bernanke at around the 7:30 mark.